Samenvatting van de lessen International trade in het 2e jaar Bedrijfsmanagement. Het vak International Trade die ik heb gevolgd zijn gegeven door meneer Bolleire en meneer Van Beveren. Deze lessen en het examen zijn in het engels gegeven, dus het volledige document is ook samengevat in het engels.
LESSEN MR. BOLLEIRE ................................................................................................ 8
0. CHAPTER 1: GLOBAL MARKETING ................................................................................... 8
1. International business ............................................................................................................................. 8
1.1. Views on international business............................................................................................................ 8
2. Globalization vs. localization ................................................................................................................. 10
2.1. Glocalization ........................................................................................................................................ 10
3. The global marketing concept................................................................................................................ 13
3.1. Global marketing: definition ............................................................................................................... 13
1. CHAPTER 2: INTERNATIONALIZATION IN THE FIRM ........................................................ 14
1. Should we internationalize? .................................................................................................................. 14
1.1. Should we internationalize? Depends on 2 crucial dimensions ......................................................... 14
1. SME’s vs LSE’s ........................................................................................................................................ 18
2. A model for international selection ....................................................................................................... 19
2.1. Determinants for the selection of foreign markets ............................................................................. 19
3. Socio-cultural factors ............................................................................................................................. 32
3.1. What is culture .................................................................................................................................... 32
3.2. Classification of culture ....................................................................................................................... 32
3.3. Levels of culture .................................................................................................................................. 35
3.4. Elements of culture to be researched ................................................................................................. 36
3. Investment modes ................................................................................................................................. 51
3.1. Acquisition or Greenfield?................................................................................................................... 52
6. CHAPTER 7 – ADAPTING THE MARKETING MIX ............................................................. 53
1. Place (distribution) ................................................................................................................................ 53
1.1. Determinants of channel decisions ..................................................................................................... 53
1.2. Structure of the channel ..................................................................................................................... 54
1.3. Managing distribution channels .......................................................................................................... 56
3. Price ...................................................................................................................................................... 62
3.1. International vs. domestic pricing ....................................................................................................... 62
3.2. Factors influencing pricing .................................................................................................................. 62
3.3. International pricing strategies ........................................................................................................... 64
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, 3.4. Product line pricing ............................................................................................................................. 65
4. Promotion ............................................................................................................................................. 67
4.1. standardization vs localization ............................................................................................................ 67
4.2. The product-communication mix ........................................................................................................ 68
4.3. Factors influencing communication .................................................................................................... 69
4.4. Communication tools .......................................................................................................................... 70
LESSEN MR. VAN BEVEREN ...................................................................................... 72
7. CHAPTER 1 – INTRODUCTION TO INTERNATIONAL TRADE ............................................. 72
1.1. Remark 1 ............................................................................................................................................. 72
1.2. Remark 2: can we maintain growth in a sustainable way?.................................................................. 73
1.3. Remark 3: since ca. 2016, we see a renewed increase in protectionism ............................................ 74
2. Why international trade? ...................................................................................................................... 75
2.1. Again, why international trade? .......................................................................................................... 76
3. World Trade ........................................................................................................................................... 77
4. Belgium’s status..................................................................................................................................... 79
4.1. Reasons for choosing an open economy ............................................................................................. 79
1. What is globalization? ........................................................................................................................... 81
2. Drivers of globalization .......................................................................................................................... 82
2.1. Declining Trade and Investment Barriers ............................................................................................ 82
2.2. Role of technological change .............................................................................................................. 82
3. Trade policies & agreements ................................................................................................................. 83
3.1. The 6 main instruments of trade policy .............................................................................................. 83
4. The emergence of Global Institutions .................................................................................................... 84
9. CHAPTER 3 – STRATEGY OF INTERNATIONAL BUSINESS ................................................. 86
1. Strategy and the firm ............................................................................................................................. 86
2. Cost pressures & pressures for local responsiveness.............................................................................. 87
3. Choosing a strategy ............................................................................................................................... 88
3.1. Global standardization strategy .......................................................................................................... 89
3.2. Localization strategy ............................................................................................................................ 90
3.3. Transnational strategy ......................................................................................................................... 90
3.4. International strategy .......................................................................................................................... 90
3.5. The evolution of strategy .................................................................................................................... 90
10. CHAPTER 4 – MANAGING THE SUPPLY CHAIN ............................................................ 91
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,1. What is SCM .......................................................................................................................................... 91
11. CHAPTER 5 – TRANSPORT MODES, INTERMEDIARIES AND DOCUMENTS IN
INTERNATIONAL TRADE ..................................................................................................... 101
1. Modes of transport ............................................................................................................................. 101
1.1. Modes of transport ........................................................................................................................... 101
1.2. Multimodal/Intermodal tranport ...................................................................................................... 102
1.3. Containers (ISO) ................................................................................................................................ 103
1.4. Other uniform dimensions ................................................................................................................ 106
2. Transport documents .......................................................................................................................... 113
2.1. Bill of Lading (B/L) ............................................................................................................................. 113
2.2. Inland waterway Bill of Lading .......................................................................................................... 116
2.3. CMR-Consignment note .................................................................................................................... 116
2.4. CIM-Consignment note ..................................................................................................................... 117
2.5. Air Way Bill (AWB) ............................................................................................................................. 118
3. Other documents in International Trade .............................................................................................. 121
3.1. Import & export license .................................................................................................................... 121
3.2. Certificate of Origin (COO) ................................................................................................................ 121
3.3. Export Health Certificate ................................................................................................................... 121
3.4. Phytosanitary Certificate (PC) ........................................................................................................... 121
3.5. Inspection Certificate ........................................................................................................................ 122
3.6. Invoice ............................................................................................................................................... 122
13. CHAPTER 6 – RISKS IN INTERNATIONAL TRADE ........................................................ 123
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,1. Risk of non-payment ........................................................................................................................... 123
1.1. Risk before delivery of the goods ...................................................................................................... 123
1.2. Risk after delivery of the goods ......................................................................................................... 123
2. Political risk ......................................................................................................................................... 124
3. Currency exchange rate risk ................................................................................................................. 125
3.1. How to handle the risk ...................................................................................................................... 125
4. Transport & logistical risk .................................................................................................................... 126
4.1. How to protect against this type of risk ............................................................................................ 126
4. Documentary collection (D/C) ............................................................................................................. 133
4.1. Typical transaction ............................................................................................................................ 133
4.2. Letter of Credit vs Documentary Collection ...................................................................................... 134
5. Open account ...................................................................................................................................... 135
5.1. How does it work?............................................................................................................................. 135
1. Introduction ........................................................................................................................................ 136
1.1. Activities in international transport .................................................................................................. 136
1.2. International trade ............................................................................................................................ 136
2. What are incoterms ............................................................................................................................. 136
2.1. Distribution of costs .......................................................................................................................... 137
2.2. Distribution of risks ........................................................................................................................... 137
2.3. Division of tasks ................................................................................................................................. 137
2.4. What are incoterms NOT ................................................................................................................... 137
3. Incoterms – group 1............................................................................................................................. 138
3.1. EXW – Ex Works (+ named place of delivery) .................................................................................... 138
3.2. FCA – Free Carrier (+ named place of delivery) ................................................................................. 139
3.3. CPT – Carriage Paid To (+ named place of destination) ..................................................................... 139
3.4. CIP – Carriage and Insurance Paid to (+ named place of destination)............................................... 140
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, 3.5. DAP – Delivery at Place (+ named place of destination) ................................................................... 140
3.6. DPU – delivered at Place Unloaded (+ named place of destination) ................................................ 141
3.7. DDP – delivered duty paid (+ named place of destination) ............................................................... 141
4. Incoterms – group 2............................................................................................................................. 143
6. Incorrect usage of Incoterms ............................................................................................................... 147
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