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Running Head: INTERNATIONAL BUSINESS

International Business
Student Name
Affiliate Institution
Professor
Date

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Important Note: 1. Support your answers with material concepts, principles, and theories from at least four
scholarly, peer-reviewed journal articles.
2. Use APA style for writing references.

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Question(s):
1. What is the World Trade Organization? What is its role in the world
economy?(Minimum words: 400)
The World Trade Organization (WTO) is an international body with a mandate or rather a
responsibility of determining the operations of world trade in general. The members or
partners of this organization have given it the mandate to formulate regulations and rules
that are used to govern international trade. To effectively conduct its day-to-day
operation, the organization, which was founded in the year 1995, operates through a set
of agreements that are signed and agreed upon by members. This agreement binds they
are what the organizations use to formulate decisions. The organization has a Secretariat
whose role is to govern the entire body. The secretariat is headed by a three-year term
Secretary General with headquarters located in Geneva Switzerland. The role of the
secretariat is to listen to various trade complaints and formulate favorable decisions
without biasness. The organization is made up of registered members across the world
which sum up to over 150. These are the members that benefit from the organization
when circumstances dictate. There are also more than 20 observer countries, that are still
waiting to join the organization. The official members through the assistance of the
organization tend to control more than 90% of the world trade.

In order to effectively

conduct appropriate activities, the organizations through its secretariat hold several
conferences to meditate upon matters arising. Some meetings take place every two years
depending on the state of the economy. This tends to vary in the event that there is an
emergency and an issue needs to be agreed upon by all the member states. This duration
is however long and the world trade events change constantly. To overcome this, the

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organization has designed a general council body composed of representation from
members’ states (Karlas & Parízek, 2020). The general council meets every two weeks to
discuss issues of trade affecting their members. This body is also mandated with the
records and the day-to-day occurrences of world trade that are likely to affect the
members' state. It helps bridge the two-year meeting by keeping checks and updating the
members after every two weeks. The organization is mainly founded and operates based
on two major duties, which are to constantly review international trade policies and
dispute resolution among the members (Zoladkiewicz &Orłowska, 2020). This is aimed
at creating trade operation order being that international trade is some that are always
associated with frequent changes that when left unchecked or managed, the effects can be
detrimental to the whole world economy in general.
2. What is the International Monetary Fund? Discuss its relationship with the World
Bank.(Minimum words: 500)
The World Bank Group and the International Monetary Fund.
The World Bank represents one of the largest organizations in the world which was
formed to offer support, mainly financial to developing nations. In addition to that, the
organization also offers various development ideologies to these countries to ensure that
these countries are able to have sustainable and formidable growth (Taylor, 2017). To
achieve this success, the organization is composed of various sector, possible to say that
is multisectorial whose have well-designed objectives that govern its operations. These
objectives tend to be in line with the overall goal of the organization which is mainly to
ensure that these developing countries are able to control and reduce poverty, increase
shared prosperity, and above all ensure that they can promote sustainable development.

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This is always effectively achieved by the world body through the formulation of goals,
three of which have been mentioned, and the designing of objectives whose intention is
to prevent deviation. There is also a formulation of relationships with various
stakeholders from governments to various private sectors. These relationships are the key
to promoting effectivity of the world body. The body also collaborates very closely with
world other major bodies such as the international monetary fund to enable it to conduct
its duties effectively. The World Bank is mainly composed of two major divisions, the
divisions that have major roles that are essential to enable the bank to achieve some of the
above-stated goals. These include the International Development Association IDA whose
role is to monitor and ensure growth among fairly underdeveloped countries. The second
division of the World Bank is the IBRD, International Bank for Reconstruction and
Development whose role is to assist, monitor, and boost middle-income economies in
meeting their development goals. All these, the World Bank does in close association
with The International Monetary Fund.

The IMF's main role is to offer monetary

assistance to the member countries which country must belong to both organizations. The
IMF does so through evaluation of the various member states intending to ascertain their
financial need. The two international bodies came into existence in the year 1944 at a
conference at Bretton Woods. At its foundation, the World Bank was tasked with
evaluating various countries within the world and formulating policies targeting the
elimination of poverty. The International Monetary Fund on the other hand role was to
create stability among various world currencies (Anders, 2018). It was aimed at advising
countries thus preventing them from financial mistakes and eras. In some situations, The
IMF lends members state capital to be able to cushion them or achieve their financial

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goals. All this assistance is driven towards ensuring that these countries are able to
protect their citizens from poverty. For a country that falls within either of the categories
to benefit from any of the organizations, the regulations dictate that a country must be a
member of both by first joining the IMF. The two organizations currently have total
member states of 184 countries. It is therefore conclusive to state that the two
organization operate together. They are dependent on each other.
Case study
Please readCase (attached): “Globalization of BMW, Rolls-Royce, and the MINI”, and
answer the following questions:

3. How do you think BMW integrates its various unique brands into a global effort
that works for them (BMW, Rolls-Royce, and the MINI) across the world’s many
global markets? (Minimum words: 400)

The BMW company is one of the old car manufacturing companies in the world, they
have been in operation long enough to observe various car sale successes for over a
century now. These have allowed them to conduct numerous assessments that allowed
them to formulate numerous policies that have since enabled them to integrate various car
brands into the global market domain (Hill & Hult, 2017). Because the company has a
specific code that they follow while making their original cars, they would not
compromise as this would have also interfered with their general market space. This is
what led to the acquisition of brands such as MINI and Rolls Royce. The acquisition was
done to target a specific market group. A group is made up of a particular class of
individuals with a desire to own a car. Even with the acquisition, the company continued

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to produce its usual BMW cars with spectacular technology. This was aimed at
maintaining the status quo within the market domain. The company already had loyal
customers across the world and therefore had no intention of losing them. Because of the
status and class of their original production, the company saw it was fit to accommodate
all the classes of people within the society. To achieve this, the company decided to
acquire MINI Car Company in the 90s. This aimed at targeting the large proportion of
urban dwellers which is mainly made up of the youth. The targeted demography was
presented by a group of individuals, youthful and not that fairly financially stable. These
were individuals that could not afford the usual BMW cars. The project was a success
being that this group consists of the largest proportion of urban dwellers. The ben...