Question 1

[78 Marks]

1.1 Managing an international business is different from managing a purely domestic business. Do you agree or disagree? Motivate your answer. (4)

1.2 "The whole world is a potential market for your products". Discuss any five market entry (modes of entry) strategies that a company can use to exploit this potential. (10)

1.3 What are the factors that influence the political economy of a country and thus contributing to its attractiveness as a market or investment site? (6)

1.4 International business involves people from different cultures. Thus, implying that the execution of every business function is subject to possible cultural differences. Describe the six dimensions of culture as identified by Geert Hofstede. (18)

1.5 The past two decades have witnessed a proliferation of regional trade blocs that promote regional economic integration. Describe the different levels of regional economic integration, detailing how each operates. (20)

1.6 Consider the firm in terms of a value chain. What is the difference between primary activities and support activities? Provide examples of each. (10) 1.7 Discuss the utilitarian approach to business ethics. What are its drawbacks? (10)