International Business

Major Difference Between GATT and WTO

The General Tariff and Trade Agreement (GATT) was signed in 1947 to facilitate foreign trade, liberalize policies and abolish tariffs. GATT is a multilateral agreement that regulates international trade between several nations of the world. The key goal is to substantially reduce tariffs and eliminate certain trade barriers. In 1995, however, the GATT was replaced …

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WTO – World Trade Organization

The WTO or World Trade Organization is a body comprises of governments controlling international trade among nations. WTO began its operation on 1st January 1995 under the Marrakech Agreement, which was signed on 15 April 1994 by 123 nations, to replace the General Tariff and Trade Agreement (GATT). It is the world’s biggest multinational business …

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Types of International Business

There are number of ways for internationalization / globalization of business. these are referred as foreign market entry strategies. Each of these ways has certain advantages and disadvantages. One strategy for a particular business may not be very suitable for another business with different environment. Therefore it is quite common that a company employs different …

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Problems in International Business

There are many Problems in International Business. The restraining forces slow down the progress of companies that take up International Business. The restraining forces are : First Main Problem in International Business is Culture: The culture of the nation and the companies should have an international vision. The long term perspective of companies should be …

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Main Difference Between Domestic and International Business

Main Difference Between Domestic and international Business are as follows :   S.No International Business Domestic Business 1. It is extension of Domestic Business and Marketing Principles remain same. The Domestic Business Follow the marketing Principles 2. Difference is customs, cultural factors No such difference. In a large countries languages likeIndia, we have many languages. …

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International Business

The Technology era since the last two decades is bringing a fundamental shift in business around the globe. The national economies are opening up and allowing cross border trade and investments. Technologies are helping to reduce distances and improve business. Business is a medium of growth for any country. When a business grows internationally country’s …

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