Commerce Exam > Commerce Videos > International Business II - Overview, Business Studies (BST), CBSE Class 11
International Business II - Overview, Business Studies (BST), CBSE Class 11 Video Lecture - Commerce
FAQs on International Business II - Overview, Business Studies (BST), CBSE Class 11 Video Lecture - Commerce
| 1. What is the importance of studying International Business? |  |
Ans. International Business is important because it allows businesses to expand their market reach, gain access to new resources and technologies, and increase their profitability. It helps businesses understand the global marketplace and adapt to the challenges and opportunities presented by international trade.
| 2. What are the key factors to consider when conducting international business? | |
Ans. When conducting international business, key factors to consider include cultural differences, language barriers, legal and regulatory frameworks, political stability, exchange rates, and market potential. These factors can impact the success or failure of an international business venture.
| 3. How does international business contribute to economic growth? | |
Ans. International business contributes to economic growth by promoting trade and investment between countries. It leads to the creation of jobs, increases productivity, and stimulates innovation. It also enables countries to access new markets and resources, which can drive economic development and raise living standards.
| 4. What are the challenges faced by companies in international business? | |
Ans. Companies face several challenges in international business, such as cultural differences, language barriers, legal and regulatory complexities, political instability, foreign exchange risks, and intense competition. They also need to navigate logistical challenges, adapt their products and marketing strategies to different markets, and build relationships with local partners.
| 5. How can companies mitigate the risks associated with international business? | |
Ans. Companies can mitigate risks associated with international business by conducting thorough market research, developing a solid international business plan, seeking legal and financial advice, establishing strong relationships with local partners, diversifying their markets, and hedging against foreign exchange risks. They should also stay updated on political and economic developments in the countries they operate in.
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