International Business – Navigating International Trade Regulations

International Business

Pharma Health, a UK-based company, is known for its significant contributions to the pharmaceutical industry. Section A: Short Answers (20 Marks) Attempt any 4

1. What is international business, and how does it differ from domestic business?
2. Explain the concept of globalization in the context of international business.
3. What are the risks associated with conducting business in foreign markets?
4. How can companies manage political risk when entering new international markets?
5. How do trade barriers affect international business operations?
6. What is the impact of emerging markets on global business strategies?

 Section B : Case study (60 Marks)

Case Study 1: Market Entry Strategy for a Tech Start-up (20 Marks)

A U.S.-based itech start-up, Innovate Tech, has developed a revolutionary new smartphone app that it believes has global market potential. The company is considering expanding into the European market, specifically targeting countries like Germany, France, and Italy. Innovate Tech must decide on the best market entry strategy, whether it be through exporting, licensing, a joint venture, or direct investment. The company must also consider the cultural, legal, and regulatory differences in each target country, as well as the potential for intellectual property risks.

Questions:

1. What factors should Innovate Tech consider when choosing a market entry strategy for Europe?
2. How can Innovate Tech mitigate the risks associated with intellectual property in foreign markets?
3. What are the potential advantages and disadvantages of each market entry strategy for Innovate Tech?

Case Study 2: Managing Cross-Border Mergers and Acquisitions (20 Marks)

Eco-Friendly Brands, a European consumer goods company known for its sustainable products, is expanding its production to a developing country to take advantage of lower labour costs and tax incentives. The company is committed to maintaining high ethical standards and CSR practices but is facing criticism regarding potential exploitation of cheap labour and environmental impact in the new location.

Questions:

1. How can Eco-Friendly Brands ensure that its international operations adhere to the same ethical standards and CSR practices as in its home country?
2. What are the potential risks and benefits of moving production to a developing country from an ethical and CSR perspective?
3. How should Eco-Friendly Brands communicate its ethical and CSR efforts to stakeholders, including consumers and NGOs, to mitigate criticism?

Case Study 3: Navigating International Trade Regulations (20 Marks)

Pharma Health, a biotech company based in the United Kingdom, has developed a new drug that has the potential to revolutionize the treatment of a common chronic condition. The company is eager to expand its market reach and is considering exporting the drug to the United States and Japan. However, Pharma Health is navigating complex international trade regulations, including differing drug approval processes, intellectual property rights, and trade agreements.

“Pharma Health, a UK

Questions:

1. What steps should Pharma Health take to understand and comply with the drug approval processes in the United States and Japan?
2. How can Pharma Health protect its intellectual property rights when entering these new markets?
3. What are the implications of current trade agreements between the UK and the target markets on Pharma Health’s export strategy?

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