1.What factors are there when choosing a job?

Salary and Benefits: Compensation is a key consideration, including salary, bonuses,

healthcare benefits, retirement plans, and other perks offered by the employer.

Career Growth and Advancement: Opportunities for professional development,

advancement within the company, and career growth potential are crucial considerations for
individuals seeking to progress in their careers.

Job Responsibilities and Challenges: The nature of the work itself, including job duties,
responsibilities, and challenges, should align with the individual's skills, interests, and career
goals.

2.What kinds of people do you think are the most desirable for
companies to employ?
Adaptability: Employees who are adaptable can quickly adjust to changes in the workplace,
whether it's new technologies, processes, or organizational structures. They can thrive in
dynamic environments and contribute effectively to the company's success.

Problem-Solving Skills: Companies value employees who can identify problems, analyze
situations, and develop creative solutions. Employees who are resourceful, innovative, and
capable of thinking critically can contribute to overcoming challenges and driving innovation.

3. Which information should there be in a CV?

Personal Information: This section includes your full name, contact information (phone
number, email address, and mailing address), and optionally, a professional title or summary
statement.

Work Experience: A detailed list of your work history. Include the name of the company or
organization, your job title, dates of employment (month and year), and a description of your
key responsibilities, accomplishments, and achievements in each role.

Education: A summary of your educational background, including your highest degree

attained, the name of the institution, graduation dates (or anticipated graduation dates), and
any relevant academic honors or awards.

Skills: A list of your key skills and competencies relevant to the job you're applying for. This
section may include technical skills (e.g., programming languages, software proficiency), soft
skills (e.g., communication, leadership), and any specialized skills or qualifications relevant
to your field.

Achievements and Awards: A section highlighting any notable achievements, awards, or

honors you've received throughout your academic or professional career

4. What is an international market?

An international market refers to the exchange of goods, services, and capital between
countries. It involves the buying and selling of products and services across national
borders. International markets allow businesses to expand their customer base beyond their
domestic market and tap into new opportunities for growth.Top of Form

EX : Toyota,a Japanese automaker, operates globally. It manufactures vehicles in multiple

countries including Japan, the United States, China, and several European countries,
sources parts from various locations, and sells its cars worldwide. By leveraging international
markets, Toyota expands its reach, accesses resources efficiently, and adapts to diverse
consumer preferences and regulations.

5. What are the possible advantages and disadvantages of

international markets?

Advantages:

1. Access to Larger Customer Base: International markets provide access to a larger

customer base, offering opportunities for business growth and revenue expansion
beyond domestic markets.
2. Diversification of Revenue Streams: Operating in multiple international markets
can help diversify revenue streams, reducing dependence on any single market and
mitigating risks associated with economic downturns or market fluctuations in specific
regions.
3. Economies of Scale: Expanding into international markets can enable businesses
to achieve economies of scale by increasing production volumes, reducing unit costs,
and improving efficiency through larger market reach.
4. Market Growth Opportunities: Emerging markets often offer significant growth
opportunities due to increasing consumer demand, rising disposable incomes, and
evolving market dynamics. Businesses can capitalize on these opportunities to expand
their market share and achieve higher growth rates.
 5. Competitive Advantage: International expansion can enhance a company's
competitive advantage by leveraging unique strengths, capabilities, and resources to
differentiate products or services in new markets and gain a competitive edge over rivals.
6. Resource Access: International markets may offer access to valuable resources,
including raw materials, labor, talent, technology, and intellectual property, which can
enhance production capabilities, innovation, and competitiveness.

Disadvantages:

1. Market Entry Barriers: International expansion may face various market entry
barriers, including regulatory requirements, trade barriers, tariffs, cultural differences,
language barriers, and political instability, which can increase costs and complexity.
2. Operational Challenges: Operating in international markets presents operational
challenges such as supply chain logistics, transportation costs, currency exchange risks,
cultural differences, legal complexities, and compliance with foreign regulations, which
can pose logistical and managerial challenges.
3. Political and Economic Risks: Businesses operating in international markets are
exposed to political and economic risks, including geopolitical tensions, trade disputes,
currency fluctuations, economic instability, and changes in government policies or
regulations, which can impact business operations and profitability.
4. Cultural and Consumer Preferences: International markets have diverse cultural
norms, consumer preferences, and buying behaviors that may require businesses to
adapt products, services, marketing strategies, and business practices to local
preferences and customs, which can be costly and time-consuming.

6.What are the differences between open markets and protected markets?

Open Markets:
Free Trade: Open markets embrace the principles of free trade, where
there are minimal barriers to the flow of goods, services, and capital between

countries.
Competition: Businesses in open markets face competition from domestic
and foreign rivals, which can drive innovation, productivity, and consumer

choice.
EX:
A real-life example of an open market is the North
American Free Trade Agreement (NAFTA), which allowed for the free flow of
goods, services, and investments between the United States, Canada, and Mexico.
Through NAFTA, tariffs and trade barriers were reduced or eliminated,

facilitating trade and economic integration among the member countries.

Protected Markets:
Trade Barriers: Protected markets impose barriers to trade, such as tariffs,
quotas, subsidies, and regulations, to shield domestic industries from foreign

competition
Limited Competition: Protected markets may lack competition, resulting in less

incentive for domestic industries to innovate, improve quality, or reduce costs.

EX: A real-life example of a protected market is India's agricultural sector.

The Indian government imposes tariffs and restrictions on certain
agricultural imports to safeguard domestic farmers from competition. These
protective measures aim to support local agricultural producers and ensure
food security within the country.
Top of Form

7. What is free trade?

Free trade is a policy that promotes the unrestricted exchange of goods and services
between countries without government-imposed barriers such as tariffs, quotas, or
subsidies. It aims to enhance economic efficiency, foster competition, lower consumer
prices, and encourage specialization based on comparative advantage. Free trade
agreements facilitate this by reducing trade barriers among participating nations.

EX : A real-life example of free trade is the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP). This agreement involves 11 countries, including Japan,
Canada, Australia, and Mexico, among others. By eliminating tariffs and reducing trade
barriers, the CPTPP aims to promote free trade, boost economic growth, and enhance
cooperation among member nations

8. What are the benefits and drawbacks of free trade?

Benefits:

1. Increased Economic Efficiency: Free trade allows countries to specialize in

producing goods and services in which they have a comparative advantage. This
specialization leads to increased efficiency and higher overall economic output.
2. Lower Prices for Consumers: With free trade, consumers have access to a wider
variety of goods and services at competitive prices. Importing cheaper goods from other
countries can lower the cost of living for consumers.
3. Enhanced Competitiveness: Free trade encourages domestic industries to become
more competitive by exposing them to foreign competition. This can drive innovation,
productivity improvements, and higher quality standards.
4. Expanded Market Access: Free trade agreements open up new markets for
exporters, providing opportunities for businesses to grow and expand into foreign
markets.
 5. Promotion of Peace and Cooperation: By fostering economic interdependence,
free trade can promote peaceful relations between nations and encourage cooperation
on various issues.

Drawbacks:

1. Job Displacement: Free trade can lead to job losses in industries that are unable to
compete with cheaper imports. This can result in unemployment and economic hardship
for affected workers and communities.
2. Income Inequality: Free trade may exacerbate income inequality within countries,
as the benefits of trade are not evenly distributed. Wealthier individuals and corporations
often benefit more from free trade agreements than lower-income groups.
3. Environmental Concerns: Free trade can lead to increased environmental
degradation as countries may prioritize economic growth over environmental protection.
This can result in pollution, deforestation, and depletion of natural resources.
4. Dependency on Foreign Markets: Reliance on international trade can make
countries vulnerable to external economic shocks, such as changes in global demand or
disruptions in supply chains.
5. Loss of Sovereignty: Some argue that free trade agreements limit a country's ability
to enact policies in the interest of national sovereignty, as they may be subject to
international trade rules and regulations.

9. What can be the differences between a male and female

business leader?
1. Communication Style: Research suggests that women may tend to adopt a more
collaborative and inclusive communication style, while men may lean towards a more
direct and assertive approach.
2. Decision-Making: Female leaders may emphasize consensus-building and taking
into account a broader range of perspectives in decision-making processes, whereas
male leaders may prioritize decisiveness and assertiveness.
3. Leadership Traits: Stereotypically, women are often associated with traits such as
empathy, nurturing, and relationship-building, while men are associated with traits like
confidence, competitiveness, and assertiveness. However, individuals can possess a
mix of these traits regardless of gender.
4. Risk-Taking: Some studies suggest that men may be more inclined towards risk-
taking behavior in business decisions, while women may exhibit more risk-averse
tendencies. However, this varies greatly among individuals and contexts.
5. Management Style: Female leaders may be more likely to adopt a transformational
leadership style, focusing on empowering and developing their team members, while
male leaders may exhibit a more transactional or autocratic leadership style.
6. Work-Life Balance: Female leaders may face unique challenges balancing career
advancement with family responsibilities, leading some to prioritize flexibility and work-
life balance in their leadership approach.
10.What preparations should be made when a country does
business internationally?
1. Market Research: Conduct thorough research on target markets to understand
consumer preferences, demand trends, regulatory requirements, and potential
competitors. This information helps tailor products or services to meet the needs of
international customers effectively.
2. Legal and Regulatory Compliance: Familiarize yourself with international trade
laws, regulations, tariffs, and customs requirements in target countries. Ensure
compliance with trade agreements, import/export regulations, intellectual property laws,
and other legal considerations.
3. Financial Planning: Assess financial risks and opportunities associated with
international business activities. Develop a comprehensive budget that accounts for
expenses such as market entry costs, transportation, tariffs, taxes, currency exchange
rates, and potential fluctuations.
4. Logistics and Supply Chain Management: Establish efficient logistics and supply
chain networks to ensure timely delivery of goods and services to international markets.
Consider factors such as transportation modes, inventory management, warehousing,
and distribution channels.
5. Cultural and Language Adaptation: Understand cultural norms, values, and
communication styles prevalent in target markets. Adapt marketing strategies, product
designs, packaging, and advertising to resonate with local customs and preferences.
Invest in language translation services as needed to facilitate effective communication.
6. Risk Management: Identify and mitigate potential risks associated with international
business operations, including political instability, currency fluctuations, economic
downturns, trade barriers, intellectual property theft, and supply chain disruptions.
Develop contingency plans to address unforeseen challenges.
7. Partnerships and Alliances: Consider forming strategic partnerships, joint ventures,
or alliances with local businesses or distributors in target markets. Collaborating with
established partners can provide valuable market insights, access to distribution
channels, and regulatory expertise.
8. Human Resources: Invest in recruiting and training personnel with the skills and
cultural competency necessary to navigate international business environments. Provide
cultural awareness training and language education to facilitate effective communication
and collaboration across borders.
9. Technology and Infrastructure: Invest in technology infrastructure, digital
platforms, and e-commerce capabilities to support international business operations,
online transactions, and customer engagement. Leverage digital marketing, social
media, and analytics tools to reach global audiences efficiently.
10. Government Support: Seek assistance from government agencies, trade
associations, and diplomatic missions to access market information, trade promotion
services, export financing programs, and advocacy support. Take advantage of trade
missions, trade shows, and networking events to showcase products and services
internationally.

11. What makes a good leader?

Vision and Clarity: Good leaders have a clear vision for the future and can
articulate it in a compelling manner. They inspire others with their vision and
provide direction for the team or organization.
Communication Skills: Effective communication is essential for leadership. Good
leaders are adept at both speaking and listening. They communicate clearly,
openly, and transparently, and actively listen to the perspectives and feedback

of others.

Emotional Intelligence: understand the feelings, needs, and concerns of their team
members. They cultivate a supportive and inclusive work environment where everyone feels
valued and understood.
Decisiveness: Good leaders can make tough decisions decisively and
effectively, even in uncertain or ambiguous situations. They weigh available
information, consult with stakeholders, and take calculated risks when

necessary.

12. What is the difference between a manager and a leader?

Give examples to support your ideas.
Manager:
Focus on Tasks and Processes: Managers are primarily responsible for overseeing and
coordinating the day-to-day operations of a team or department. They focus on
planning, organizing, directing, and controlling resources to achieve specific

goals and objectives

Authority and Control: Managers typically have formal authority and decision-making
power within their designated areas of responsibility. They enforce policies,
allocate resources, assign tasks, and monitor performance to ensure efficiency

and productivity.
Short-Term Focus: Managers tend to prioritize short-term goals and objectives,
focusing on achieving immediate results and meeting deadlines within budgetary

constraints.

Leader:

Focus on People and Vision: Leaders inspire and motivate others by articulating a
compelling vision for the future and aligning individual and collective efforts towards a
common purpose. They focus on developing a shared sense of purpose, values, and
direction.
Influence and Inspiration: Leaders exert influence through their personal qualities,
charisma, and ability to inspire others. They lead by example, cultivate trust, and empower
others to achieve their full potential.
Long-Term Focus: Leaders take a long-term perspective, focusing on strategic
planning, innovation, and organizational development to ensure sustained

success and adaptability in a dynamic environment.

13.What styles of leadership are there?

1. Autocratic Leadership: In this style, the leader makes decisions independently
without seeking input from others. They have complete control over decision-making and
tend to give orders and directives to their subordinates. Autocratic leaders may be
effective in situations requiring quick decisions or in highly structured environments, but
they can stifle creativity and motivation among team members.
2. Democratic Leadership: Democratic leaders involve team members in the decision-
making process by soliciting their input, feedback, and opinions. They encourage
participation, collaboration, and shared decision-making, which can foster a sense of
ownership and commitment among team members. Democratic leadership is effective in
promoting innovation, creativity, and employee engagement.
3. Transformational Leadership: Transformational leaders inspire and motivate their
followers by articulating a compelling vision, fostering a sense of purpose and meaning,
and empowering individuals to reach their full potential. They lead by example, challenge
the status quo, and encourage innovation and continuous improvement.
Transformational leadership can drive organizational change, promote growth, and
cultivate high levels of employee engagement and commitment.
4. Charismatic Leadership: Charismatic leaders possess a magnetic personality,
charm, and persuasive communication skills that inspire and influence others. They
create a compelling vision, exude confidence and enthusiasm, and rally followers to
achieve common goals. Charismatic leadership can be highly effective in motivating and
mobilizing people, but it may rely heavily on the leader's personality and may be less
sustainable over the long term.

14. What sort of problems do business leaders have to deal with?

Give examples
1. Market Competition: Business leaders must navigate intense competition within
their industry, including competition from established rivals, disruptive startups, and
global competitors. They need to develop strategies to differentiate their products or
services, innovate continuously, and maintain a competitive edge in the marketplace.
Example: A retail company faces stiff competition from e-commerce giants like Amazon and
traditional brick-and-mortar stores. The CEO must devise strategies to enhance the
customer experience, optimize supply chain efficiency, and leverage technology to stay
competitive.
2. Financial Management: Business leaders are responsible for managing the
financial health of their organizations, including budgeting, cash flow management,
revenue generation, and cost control. They must make strategic decisions about
investment priorities, financing options, and risk management to ensure long-term
profitability and sustainability.
Example: A manufacturing company struggles with declining profit margins due to rising raw
material costs. The CFO must analyze cost structures, negotiate supplier contracts, and
implement cost-saving measures to improve profitability without sacrificing product quality.
3. Talent Acquisition and Retention: Recruiting and retaining top talent is a significant
challenge for business leaders, especially in competitive industries or regions. They
need to develop effective recruitment strategies, offer competitive compensation and
benefits, and create a positive work culture to attract and retain skilled employees.
Example: A technology startup faces difficulty in hiring qualified software engineers due to
fierce competition from larger tech companies. The HR director implements employee
referral programs, flexible work arrangements, and professional development opportunities
to attract and retain top talent.
4. Regulatory Compliance: Business leaders must ensure compliance with a myriad
of regulations, laws, and industry standards governing their operations. They need to
stay informed about changes in regulations, maintain accurate records, and implement
policies and procedures to mitigate compliance risks.
Example: A pharmaceutical company faces regulatory scrutiny and potential fines for non-
compliance with FDA regulations. The regulatory affairs team works closely with legal
counsel and quality assurance staff to ensure that manufacturing processes, labeling, and
marketing materials meet regulatory requirements.
5. Technological Disruption: Rapid technological advancements and digital
transformation are disrupting traditional business models and industries. Business
leaders need to embrace innovation, adapt to changing technologies, and invest in digital
capabilities to stay relevant and competitive in the digital age.
Example: A traditional retail chain faces declining sales due to the rise of e-commerce and
changing consumer preferences. The CEO implements an omnichannel strategy, invests in
e-commerce platforms, and enhances the in-store shopping experience with digital
technologies to attract customers.

15. What should young people prepare to be a great leader at

work in the future?

Communication Skills: Hone your communication skills, including verbal, written,

and interpersonal communication. Practice active listening, empathy, and

clarity in conveying ideas and information to others.

Emotional Intelligence: Develop emotional intelligence by understanding and managing
your emotions effectively, empathizing with others, and building strong
interpersonal relationships. Emotional intelligence is crucial for effective

leadership

and collaboration.

Adaptability and Resilience: Cultivate adaptability and resilience to navigate change,

uncertainty, and setbacks. Learn to embrace challenges, learn from failures,

and bounce back from adversity with a positive attitude.

16. Are great leaders born or made?

Born Leaders:
1. Innate Qualities: Some individuals may possess innate qualities or predispositions
that make them more naturally inclined to leadership roles, such as charisma,
confidence, and communication skills.
2. Personality Traits: Certain personality traits, such as extraversion, openness to
experience, and emotional intelligence, are often associated with effective leadership
and may have a genetic component.
3. Early Experiences: Early experiences, such as upbringing, family environment, and
early education, can influence the development of leadership skills and behaviors from a
young age.

Made Leaders:

1. Learned Skills: Leadership is a skill that can be learned, developed, and refined
over time. Through education, training, and experience, individuals can acquire the
knowledge, competencies, and behaviors necessary for effective leadership.
2. Experience: Leadership abilities often emerge and evolve through real-world
experiences, challenges, and opportunities. Hands-on experience in leadership roles, as
well as exposure to diverse situations and contexts, can help individuals develop their
leadership capabilities.
3. Feedback and Reflection: Receiving feedback, reflecting on one's experiences, and
seeking opportunities for self-improvement are essential components of leadership
development. Leaders can learn from successes and failures, refine their approaches,
and continuously strive to grow and evolve as leaders.
4. Mentorship and Coaching: Mentorship and coaching from experienced leaders can
provide valuable guidance, support, and insights for emerging leaders. Learning from the
experiences and wisdom of others can accelerate leadership development and enhance
effectiveness
17. What can be some effective strategies for turning round the company?

Assess the Situation: Conduct a thorough assessment of the company's financial health,
operational performance, market position, and competitive landscape. Identify key
challenges, root causes of underperformance, and areas for improvement.
1. Develop a Turnaround Plan: Develop a comprehensive turnaround plan outlining
specific goals, objectives, and strategies for addressing identified issues. Prioritize
initiatives based on their potential impact on profitability, cash flow, and long-term
sustainability.
2. Stabilize Financials: Implement measures to stabilize the company's financials and
improve cash flow. This may include reducing expenses, renegotiating contracts,
optimizing inventory management, and improving accounts receivable collections.
3. Focus on Core Competencies: Streamline operations and focus on core
competencies that align with the company's strengths and market opportunities. Evaluate
product lines, services, and business units to identify areas for consolidation or
divestiture.
4. Enhance Market Position: Develop strategies to enhance the company's market
position and competitiveness. This may involve rebranding, launching new products or
services, expanding into new markets, or strengthening relationships with existing
customers.
5. Empower and Engage Employees: Engage employees in the turnaround process
by fostering a culture of collaboration, accountability, and innovation. Empower frontline
employees to contribute ideas, identify opportunities for improvement, and take
ownership of their roles.