PART 2 : Essay: 15 pis
In your own words please discuss the ff;Essay: 15 pis
1. International laws play a vital role in the international business. Explain their
regulatory measures and their implications in protecting the rights of the international
market
- International laws are designed to provide nations as much coverage as
possible with their own international economic operations while also increasing
overall economic gains from trade and interaction with other nations.
International law have three regulatory measures: party choice autonomy,
conference and organization and lastly treaties. It have implications for
international human rights treaties and tribunals, as well as the "right to
democracy," the definition of sovereignty, and the general efficacy of
international law.
2. Discuss and describe the political environment and its implication in the international
business operations
- Political Environment forms the basis of business environment in a nation.
Government policies that are consistent and efficient will have a good influence
on companies, and likewise. Changes in government frequently result in policy
changes. By doing business overseas, there is typically a significant amount of
uncertainty/implication, which is referred to as political risk or sovereign risk.
This political risk id defined as the probability of some political events that will
changes the prospects for the profitability of a given investment.
3. Discuss the different approaches in interpreting one’s culture,
- Culture is relative, it is not right or wrong. We simply perceive the world
differently. Culture is about group with a collective phenomenon of shared
values and meaning. It is not also inherited, it is derived from our social
environment. We are not born with it we learned and acquire as we grow.
Metaphors is one of the different approaches n interpreting one’s culture it is a
representation of the contemporary culture fundamental ideals. Second is
stereotypes any form of cultural affiliation, including citizenship, religion,
gender, ethnicity, or age, might be related to it. Stereotypes may either be
good or bad. Lastly is an idiom reflects ideals of the country they are a part of.
We can form opinions about people based on their cultural manifestations. As
a result, cultural idioms, such as those found in every topic, play an essential
role in our lives.
4. Discuss the risk management mechanism
- A risk management system is the method in which a company controls its
people, tasks, interactions, and procedures in order to accomplish its values
and goals. The public domain is also a part of international risk management.
5. Why is it important to identify the economic structure of a country in understanding
the political structure of a country.
- Economic structures also determines the performance or efficacy of formal
institutions. Economic structures regulate the efficiency of analysis and
identifying, national development, economic mobility, and the direction of
political culture, all of which influence performance of the economy.