INTERNATIONAL BUSINESS – LAWS AND PRACTICES
STUDY MATERIAL
PROFESSIONAL PROGRAMME
INTERNATIONAL BUSINESS ? LAWS AND
PRACTICES
MODULE 3 ELECTIVE PAPER 9-5
ICSI House, 22, Institutional Area, Lodi Road, New Delhi 110 003 tel 011-4534 1000, 4150 4444 fax +91-11-2462 6727 email info@icsi.edu website icsi.edu
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? THE INSTITUTE OF COMPANY SECRETARIES OF INDIA
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INTERNATIONAL BUSINESS - LAWS AND PRACTICES
Today globalization has dramatically re-shaped the markets and has changed the way business is being done. One has to keep pace with the customer's requirement and has to bring in services and products as per global standards. International trade has become a vital component of development strategy, which can be used as an effective instrument of economic growth. Moreover the establishment of institutions like World Trade Organisation has ushered a new era of global economic co-operation reflecting the widespread desire to operate in a more open multilateral trading system. Participation in international trade has become necessity for all countries and as well as companies for growth.
Thus it becomes important for professionals to acquire knowledge and skill to help work in international companies and in global environment. Having updated knowledge of international business laws and procedures becomes key requisite for professionals. So, in this study broad aspects related to international business environment, export management, FDI policy, FTP policy, international trade theories, international trade bodies like WTO, UNCTAD, international logistics and supply chain etc. has been discussed in detail. Added emphasis has been laid on strategic alliances, foreign collaborations and joint ventures abroad, to enable the students to discharge efficient services and to tackle practical situations.
In this study every efforts has been made to give a comprehensive coverage of all the topics relevant to the subject. At the end of each study lesson a brief about the lesson have been given under the caption `Lesson Round Up' as well as questions have been given under the caption `Self Test Questions' for the practice of students to test their knowledge.
This study material has been published to aid the students in preparing for the INTERNATIONAL BUSINESS ? LAWS AND PRACTICES paper of the CS Professional Programme. It is part of the education kit and takes the students step by step through each phase of preparation stressing key concepts, pointers and procedures. Company Secretaryship being a professional course, the examination standards are set very high, with emphasis on knowledge of concepts, applications, procedures and case laws, for which sole reliance on the contents of this study material may not be enough.
Therefore, in order to supplement the information/contents given in the study material, students are advised to refer to the Suggested Readings mentioned in the study material, Student Company Secretary, Business Dailies and Journals.
In the event of any doubt, students may write to the Directorate of Academics in the Institute for clarification at academics@icsi.edu.
Although due care has been taken in publishing this study material yet the possibility of errors, omissions and/ or discrepancies cannot be ruled out. This publication is released with an understanding that the Institute shall not be responsible for any errors, omissions and/or discrepancies or any action taken in that behalf.
Should there be any discrepancy, error or omission noted in the study material, the Institute shall be obliged if the same are brought to its notice for issue of the corrigendum in the e-bulletin Student Company Secretary.
There is open book examination for this Elective Subject of Professional Programme. This is to inculcate and develop skills of creative thinking, problem solving and decision making amongst students of its professional programme and to assess their analytical ability, real understanding of facts and concepts and mastery to apply, rather than to simply recall, replicate and reproduce concepts and principles in the examination.
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SYLLABUS
ELECTIVE PAPER 9-5 : INTERNATIONAL BUSINESS - LAWS AND PRACTICES
Level of Knowledge: Expert Knowledge Objective: To acquire specialized knowledge in International business, law, procedure and practices.
Detailed Contents:
1. Introduction ? International Business - Nature and Scope, ? Globalization - Meaning, Levels, Merits, Limitations and irreversibility of Globalization ? Need to go global ? Internationalization Decisions (entry modes) ? SEZ features
2. International Business Environment ? Meaning of Environment ? Dimensions - PEST to STEEPLE ? Internal Environment and External Environment ? SWOT Analysis ? Various approaches to Assess competitiveness including Michael Porter's 5- Forces Model ? Global Competitiveness Index
3. Multi National Enterprises (MNEs) and Foreign Direct Investment (FDI) ? Meaning and Characteristics ? Role of MNEs in host economy ? Trends in Global FDI ? Trends in FDI with reference to India ? Issues with MNEs - Taxation, Restrictive Trade Practices, Currency, Jurisdiction and Technology Transfer
4. Foreign Trade Policy and Procedures ? Introduction to Foreign Trade Policy ? Institutional Framework for Export Promotion ? Export Incentives and Facilities ? EPZ/FTZ/100% EOUs ? Quality Control for Exports ? Export Prospects for Select Products and Services ? INCO Terms iv
? International Commercial Arbitration-Shipment and Post Shipment Finance ? SEZ-Incentives and Benefits ? Method of Realizing Export Payments and Ensuring Guaranteed Export Payment ? Central Excise Clearance Formalities ? Customs Regulations and Clearance Formalities for Exports & Imports ? Duty Draw Back Claims Procedure ? Foreign Trade Financing - Export & Import ? Foreign Exchange Risk Management ? International Credit Management ? Warehousing ? Instruments of Trade Policy and India's Trade Policy 5. International Trade and Regional Economic Integration ? Theory - Mercantilism, absolute advantage and comparative advantage ? Trends in Global Trade ? Trends in India's Trade ? Types of Regional Economic Integration - Free Trade Area, Custom Union, Common Market, Economic
Union, Monitory Union and Political Union etc. ? Trading Blocks- ASEAN,SAFTA,SAARC,NAFTA,EU 6. Institutional Environment ? Pre WTO Scenario, difference between GATT and WTO ? Trade Related Institutions - WTO and UNCTAD ? WTO - Basic Principles, various agreements, Functions and Areas of Operations, Dispute Settlement
Mechanism (rules and procedures) ? IMF, IBRD, ADB ? Commodity Agreements 7. Anti-Dumping Duties ? WTO Provisions on Anti-Dumping-, Anti-Dumping Duties, Procedure and Developments ? Regulatory Framework for Anti Dumping in India ? Recent Anti Dumping Cases in India 8. Subsidies and Countervailing Duties ? WTO Provisions ? Administration ? Procedure and Emerging Trends ? Regulatory Framework for Subsidies & Countervailing duties in India ? Doha Development Round
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