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Chris Lewis
April 18, 2022
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228LON – MANAGING INTERNATIONAL TRADE

Group 2387228LON – MANAGING INTERNATIONAL TRADE

SUBJECT CODE – 228LON
SUBJECT NAME – MANAGING INTERNATIONAL TRADE
UNIVERSITY NAME – COVENTRY UNIVERSITY LONDON

Managing International Trade

The exchange of products and services between countries is referred to as international trade. In simple terms, it refers to the movement of products and services from one country to another. Export refers to the sale of goods and services outside of the country, whereas import refers to the flow of commodities and services into the country.

Advantages of International Trade

Economies of Scale In order to sell its goods on the worldwide market, a country must produce more than is required to meet domestic demand. As a result, increased volume production leads to economies of scale, lowering the cost of each item.

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Competition

Selling goods and services in another country increases competition in that market. In some ways, it benefits both local providers and customers. To compete with overseas suppliers, suppliers must ensure that their prices and quality are competitive.

Transfer of Technology

Technology is frequently transferred from a developed to a developing country as a result of international trade. The government of a developing country frequently sets terms for international corporations that include the development of local industrial capacity.

More Employment Opportunities

Jobs are created in both nations as a result of increased international trade. Hence, more employment opportunities.

Availability of all goods and services

The country can import different products from another country that they can not produce due to high costs or geographical restrictions.

What is a Corporate Plan?

A corporate plan lays out the steps that must be taken and the resources that must be made available in order to achieve the stated goals and objectives. A company business plan is a crucial document that will help you keep track of your finances and responsibilities, spot possibilities, and maintain control over your internal processes and structures.

Coventry University London
Coventry University is located in the city of London providing business-related degree courses in Europe. University provides both undergraduate and postgraduate courses in Business to students globally.

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ASSESSMENT DETAILS

The Goyeo Tech Case Study. In this assessment, students are asked to write a 4000 words corporate plan using the structure given below:

Vision Statement

The vision statement does not have to be very long. But think about the approach to trade you are taking. Where do you think Goyeo should be in 5 years? It might be a good idea to leave this until last.

Mission Statement

A Mission Statement defines the company’s business, its objectives, and its approach to reaching those objectives.
Justification: Overall approach to trade, not more than 500 words.
Justify why the selected approach is the best approach.

Objective 1: Outsourcing (production of product)

Strategy 1: Give your recommendation or strategy for outsourcing here. It only needs to be a sentence.
Justification 1: 750 words
In this section, justify your strategy. Why have you chosen this statement? Why is it better than the alternatives? Are there any issues associated with the approach you have chosen?

Objective 2: Exporting (sale of a product)

Strategy 2: Give your recommendation or strategy for exporting here. It only needs to be a sentence.
Justification 2: 750 words
In this section, justify your strategy. Why have you chosen this statement? Why is it better than the alternatives? Are there any issues associated with the approach you have chosen?

Objective 3: Logistics (movement of product)

Strategy 3: Give your recommendation or strategy for logistics here. It only needs to be a sentence.
Justification 3: 750 words
In this section, justify your strategy. Why have you chosen this statement? Why is it better than the alternatives? Are there any issues associated with the approach you have chosen?

Challenges to implementing and mitigation: 1250 words

In this section, you can analyze your choices. How could you overcome the issues discussed? How might external factors affect your approach to trade in the future?

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