Global Business Environment

Concept, nature and scope of global business; Evolution of globalization and international business; Major phases of global economic integration; Drivers of globalization including technology, trade liberalization, transportation and communication; Multinational Enterprises (MNEs) and Transnational Corporations (TNCs).

Overview of the PESTEL framework; Political environment and government policies affecting business; Political stability, geopolitical risks and international relations; Economic environment including economic growth, inflation, exchange rates and business cycles; Socio-cultural environment comprising demographics, culture, consumer behaviour and diversity; sustainability and climate-related business challenges; intellectual property rights and compliance requirements.

General Agreement on Tariffs and Trade (GATT) and its evolution; World Trade Organization (WTO): objectives, principles, structure and functions; WTO agreements and trade disciplines; International Monetary Fund (IMF) and its role in global financial stability; World Bank Group including IBRD and IDA; International Finance Corporation (IFC); Organization for Economic Cooperation and Development (OECD); Asian Development Bank (ADB) and their contributions to international development and trade; Impact of latest geopolitical issues.

Concept and evolution of regional economic integration; Forms of regional economic cooperation and integration; Regional Trade Agreements (RTAs); Economic and strategic significance of regional trade blocs; European Union (EU); Association of Southeast Asian Nations (ASEAN); Benefits and challenges of regional integration; Globalism versus regionalism in international business; Impact of latest geopolitical issues.

Emerging trends in global business and trade governance; Digital economy and cross-border e-commerce; Sustainability and responsible business practices; Corporate social responsibility in global markets; Geopolitical tensions and their impact on business; International business risks and risk management strategies; Challenges and opportunities for Indian companies in global markets.