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المملكة العربية السعودية
وزارة التعليم
الجامعة السعودية اإللكترونية
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
College of Administrative and Financial Sciences
Assignment 1
Introduction to International Business (MGT-321)
Due Date: 08/10/2022 @ 23:59
Course Name: Introduction to International
Business
Course Code: MGT-321
Student's Name:
Semester: First
CRN:
Student's ID Number:
Academic Year:2022-23-1st
For Instructor's Use, only
Instructor's Name:
Students' Grade:
Marks Obtained/Out of 15
Level of Marks: High/Middle/Low
Answers
1.
The World Trade Organization is an international organization tasked with
monitoring and improving trade activity. The organization maintains order and facilitates
global economic activity. They facilitate international trade that occurs successfully and
expeditiously amongst nations all over the world (Palmujoki, 2019). Because of the
worldwide disparities, a centralized entity that governs the industry is required. More
importantly, there is a requirement for an institution that encourages and promotes the
presence of international commerce. Without these, traders may encounter several
challenges and market dynamics. Whenever there is no central organization regulating
commerce, there is also the growth of dishonesty and abuse.
International governments get the authority to establish international trade laws
and guidelines. They take the necessary steps to guarantee that these regulations are
followed and enforced. Comprehensive understanding and communication amongst
participating nations are required for the creation and advancement of the standards. The
adoption of these standards has resulted in a massive expansion in global trade. It is
owing to each member country's cooperation and knowledge of their respective tasks.
Furthermore, these nations must follow the World Commercial Organization's standards
and norms in order to conduct trade operations.
The World Trade Organization has the authority to settle conflicts amongst
member nations and to foster peaceful foreign trade operations. The association should
also host a platform for member-country trade discussions. Representatives and
diplomats from many nations gather in Zurich on a routine basis to promote trade
discussions and other purposes. Furthermore, the body oversees global trade policy and
assures participant agreement. They successfully execute the necessary processes to
ensure the effectiveness of these techniques from across the board. The company also
offers technical help and training to poor countries.
The World Trade Organization and International Monetary Fund conjointly offer
technical assistance and education to undeveloped nations to help them expand and
strengthen their economies. The association allows these nations to engage in world
commerce free from fear of repression(Wolfe, 2018). They keep track of the trade routes
and resources that these nations may use to participate in commerce. In this situation,
foreign economies are progressing and growing. The institutions also work with other
international institutions to implement the economic and trade agenda. The two
agencies are a success and play an important role in the growth of international trade.
Countries' long-term peace exchanges and operations continue to expand.
2.
The International Monetary Fund's primar...