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INTERNAL TRADE - LARGE SCALE RETAIL ORGANISATION

INTERNAL TRADE - LARGE SCALE RETAIL ORGANISATION . Chapter - 3. Internal trade includes small scale and large scale retail organizations.

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INTERNAL TRADE - LARGE SCALE RETAIL ORGANISATION

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  1. INTERNAL TRADE - LARGE SCALE RETAIL ORGANISATION Chapter - 3

  2. Internal trade includes small scale and large scale retail organizations . Retailing on a large scale brings with it the economies of bulk purchase, advertising, sales, overhead expenses, management etc. The large-scale retail units take different forms. They are listed below: I. Departmental stores II. Multiple shops III. Consumers’ co-operative stores IV. Mail order business houses V. Hire purchase and instalment system VI. Recent developments: a) Web-marketing and E-commerce b) Tele-shopping.

  3. Types of Retailers

  4. DIFFERENCE BETWEEN DEPARTMENTAL STORES AND MULTIPLE SHOPS

  5. DIFFERENCE BETWEEN DEPARTMENTAL STORES AND MULTIPLE SHOPS

  6. Short questions 1. What is departmental store? 2. What do you mean by multiple shop?

  7. CHAPTER - 4 INTERNATIONAL TRADE

  8. Meaning : Trade between two or more nations is called international trade or foreign trade. For example, India’s trade with U.S.A, Japan, France, Pakistan etc., is called foreign trade or external trade. Foreign trade may be bilateral or multilateral. Trade between two countries is called as bilateral trade. Trade among many countries is called multilateral trade.

  9. Difference between home trade and foreign trade

  10. Placing the indent or order: After obtaining the import license and requisite amount of foreign exchange, the importer is to place order or indent for import of the goods. An indent is an order placed by an importer with an exporter for the supply of certain goods. It contains full details regarding the goods to be imported, the terms and conditions regarding price, shipment, delivery, the method of payment etc. An indent may of three types:

  11. Intermediaries involved in export trade The following intermediaries are engaged in Export Trade: Clearing and forwarding agent: They are appointed to look after the shipping, customs and loading formalities of the goods on board the ship. They get reasonable charges for their services. They perform the following functions: 1. Negotiation of shipping Contract 2. Customs formalities 3. Loading of goods on the ship 4. Securing Bill of Lading 5. Undertaking the packing and marking of goods 6. Help in getting the goods insured.

  12. Commission agents: A commission agent gets orders and passes on to exporters. The agent gets an agreed rate of commission. At the time of selecting the commission agent, an agreement should be entered between the parties. Either party may terminate the agreement by giving 45 days notice.

  13. Export & Trading Houses : These houses have been formed to increase the export, strengthen the global marketing capacity and to get various facilities for increasing export performance. It consists of merchant and production exporters, trading companies, export oriented units, units located in export processing zones, electronic hardware technology parks etc., have been recognized as export and trading houses.

  14. Entrepot trade Meaning: If goods are imported from one country with the purpose of re-exporting to another it is called Entrepot trade Import duty is not levied on these goods. The important centers for Entrepot trade are London, Hong Kong, Amsterdam and Singapore. Features: The following are the special features of this type of trade: 1) No import duty is imposed on such goods. 2) These goods are processed and re-packed for re-export. 3) Such goods are kept in the Bonded warehouses till they are Re-exported.

  15. Globalization • Meaning: Globalization is the integration of international markets for goods and services, technology, finance and to some extent labour. • It is the integration of the country with the world economy. • It implies that the linkage of a nation’s market with the global market. Globalization encourages Foreign Direct Investment (FDI). • The FDI not only augments the domestic investible resources but also stimulates exports.

  16. Multinational company (MNC): • A Multinational Company is one whose ownership is accommodated in more than one country. Products are manufactured in many countries and sold in many countries. For example Toyota of Japan ,General Motors of U.S.A, Indian Oil Company of India are Multinational companies. Jacques Maisonrogue, the president of IBM world trade Corporation defines MNC as a company that meets the following five criteria: • It operates in many countries at different levels of economic development. • Multinationals manage its local subsidiaries. • It maintains complete industrial organizations, including Research and Development and manufacturing facilities in several countries. • It has multinational central management. • It has multinational stock ownership.

  17. 1) What do mean by the term International Trade? Explain its need. 2) What are the differences between the home Trade and Foreign Trade? 3) What do you mean by the term “Entrepot Trade? What is the need for it? 4) Explain the meaning of the term “Globalization”.

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