Page 102 - Business Studies 11-12 (2006)

INTERNATIONAL BUSINESS ESSENTIALS, GRADE 12, WORKPLACE PREPARATION (BBB4E) 101
International Markets
Overall Expectations
By the end of this course, students will:
• describe the ways in which a company can explore business opportunities in international markets;
• evaluate the challenges confronting the operation of an international business;
• demonstrate an understanding of the procedures to be followed and the factors to be considered in the import and export of goods and services.
Specific Expectations
Business Opportunities
By the end of this course, students will:
– describe the features of local, regional, national, and international markets;
– describe the factors influencing a company’s participation in business opportunities in other countries (e.g., trade agreements, language barriers, currency fluctuations, geography);
– describe the ways in which a company can determine whether a potential market exists for its imports or exports.
Operational Challenges
By the end of this course, students will:
– describe how international businesses modify the characteristics and features of their products sold in different countries;
– describe the factors that may result in some countries producing higher-quality goods and others producing less-reliable goods (e.g., differences in production values, availability of skilled labour, working con- ditions, availability of technology, commu- nications, difficulties when production unit and head office are located in different countries);
– describe the factors that influence a com- pany’s ability to compete internationally (e.g., cost of labour, availability of appro- priate technology, quality of management, levels of efficiency, marketing skills).
Import and Export Considerations
By the end of this course, students will:
– identify the factors that can influence a company’s ability to import or export a product;
– demonstrate numeracy skills by converting a variety of international currencies to Canadian dollars;
– describe an export strategy for a Canadian product;
– compare successful and unsuccessful attempts by companies to import products to Canada and to export and market products to foreign countries;
– identify, using a variety of sources, includ- ing the Internet, several imported and exported products on which duties and tariffs are placed.