Trends In Global Business EnvironmentEach question need to have 300 words (no more / less than 300 words)Need to have 10 peer-reviewed academic articles must be cited in the report and using the...

Trend in Global Business Environment
What trade theories support the recent rise of China and India on the global stage? Explain your views in detail
The economy of India and China are growing rapidly at a fast pace. Both the country’s GDP has shown a remarkable growth of 4.1% and 8.1% respectively. It is due to the liberalization policies of both countries and the recent allowance to FDI – Foreign Direct Investment that is helping both these countries to utilize their resources for development of the trade and nations. The rate of GDP growth is not even for all the sectors. In 2003-2007, India’s GDP growth was around 8.6% but it was not sustainable. The export has doubled within a period of three years while software technology exports have doubled in two years. Although there has been huge foreign direct investment of around $21 billion made yet the growth of exports to GDP is very low compared to China. Certainly, the upliftment of the restrictive trade policies on licensing, foreign investments and production which were tight was replaced with free trade agreement in 1991. Yet for a massive growth India has to execute for large scale structural changes and planned economic reforms. India has a large manpower which is much younger than that of China. To boost the economy India needs capital intensive manufacturing industries on a large scale combined with labour intensive workforce. The ultimate bottleneck for India is the shortage of power sectors. In comparison China is six times larger than India. China’s trade is third largest in the world whereas India’s is less than 1% of the global trade. Certain sectors in China are protected by its government from import competition. China expends three times more infrastructure than India. China is also a hardware manufacturer. Due to China’s reduced tariff policy domestic firms face stiff competition from foreign players. Presently, China’s domestic consumption is 36% compared to India’s 60%. Hence, China has to rely more on its domestic consumption to stabilize its growth.
Name four elements of culture and briefly indicate why they are important when marketing products and services internationally.
The four basic elements of culture are language, custom, symbol and values. All these four elements combined to form the culture of a society. Culture is a way of life and hence a means for a living. These four elements can be used in marketing of products and services. The first is language in which very crucial for effective communication in marketing of products and services. If the language is not understandable by the intended customer, then the sale of the goods and services might fail. Hence, organizations having its branches in multi nations must have the training and technology to communicate in the language of the country in which they operate. For example Unilever is a company which provides the name of the country at the beginning of its brand name in which it operates. The second element if customs. It is also known as the norms or the standards or the principles for behaving. There are two types of norms which are formal and informal norms. In an organization there are certain principles set by the hierarchy beyond which the employees of the organization are restricted. These norms are for controlling the activities so that it doesn’t goes out of track. The other is the informal norms which the employees must follow while communicating with the customers so that the customers are happy with the product and services offered. The third element which is symbol depicts the gestures which must be followed within an organization for marketing of its...