Export Import Management By Justin Paul: Concepts, Cases, and Exercises
Export Import Management By Justin Paul: A Comprehensive Guide
Export import management is the process of planning, organizing, directing, and controlling the activities involved in the exchange of goods and services across national borders. It involves various functions such as market research, product development, pricing, payment, financing, logistics, documentation, risk management, customs clearance, and compliance with legal and ethical standards.
Export Import Management By Justin Paul.pdf
Export import management is important for several reasons. First, it helps businesses to expand their markets, increase their sales, diversify their products, reduce their costs, and enhance their competitiveness. Second, it contributes to the economic growth, development, and integration of countries by facilitating trade, investment, technology transfer, employment, and income generation. Third, it fosters mutual understanding, cooperation, and peace among nations by promoting cultural exchange, social welfare, environmental protection, and human rights.
One of the most comprehensive and authoritative books on export import management is Export Import Management by Justin Paul. Justin Paul is a professor of international business at the University of Puerto Rico, USA. He has over 25 years of experience in teaching, research, consulting, and training in the field of international business. He has authored or co-authored several books and articles on topics such as international marketing, international finance, international trade policy, foreign direct investment, cross-cultural management, emerging markets, and global strategy.
Export Import Management by Justin Paul is a book that covers all the essential aspects of export import management in a systematic and practical manner. It provides a clear and concise explanation of the concepts, theories, models, frameworks, tools, techniques, best practices, and case studies related to export import management. It also provides relevant examples, illustrations, tables, figures, charts, diagrams, exercises, questions, and answers to enhance the understanding and application of export import management. The book is divided into 16 chapters that cover the following main topics:
Foreign Trade: Institutional Framework and Basics
Export-Import: Documentation and Steps
This chapter explains the essential documents required for export-import transactions. It covers the documents related to commercial, regulatory, financial, transport, insurance, and inspection aspects of export-import transactions. It also outlines the steps involved in export-import procedures such as pre-shipment, shipment, and post-shipment stages. It also discusses the common errors and risks in export-import documentation and how to avoid them.
Methods and Instruments of Payment and Pricing Incoterms
This chapter describes the different methods and instruments of payment used in international trade such as cash in advance, open account, documentary collection, letter of credit, etc. It also explains the advantages and disadvantages of each method and instrument of payment for exporters and importers. It also introduces the concept of incoterms and how they affect pricing and risk allocation in export-import transactions. It also provides a detailed description of each incoterm and its implications for exporters and importers. It also guides how to choose the best payment method and incoterm for different situations.
Export-Import Strategies and Practice
This chapter discusses the different strategies for entering foreign markets such as exporting, importing, licensing, franchising, joint venture, strategic alliance, foreign direct investment, etc. It also analyzes the factors to consider when selecting a foreign market and a mode of entry such as market size, growth potential, competition, customer preferences, legal environment, political stability, cultural distance, etc. It also demonstrates how to design and implement an effective export-import plan that covers the objectives, target market, product mix, pricing strategy, promotion strategy, distribution strategy, and budget for export-import activities.
This chapter focuses on the key elements of export marketing mix such as product, price, place, and promotion. It shows how to conduct market research and analysis for export markets using various sources and methods such as secondary data, primary data, surveys, interviews, focus groups, observation, etc. It also illustrates how to develop and execute an export marketing strategy that covers the segmentation, targeting, positioning, and differentiation of export products and services. It also provides some tips and techniques for effective export marketing such as branding, packaging, labeling, quality assurance, customer service, etc.
Methods of Financing Exporters
This chapter explores the sources and types of financing available for exporters such as internal financing, external financing, short-term financing, medium-term financing, long-term financing, etc. It also explains how to assess the financial needs and risks of exporters such as working capital requirement, cash flow projection, credit risk assessment, exchange rate risk assessment, etc. It also advises how to select and apply for the most suitable financing option for exporters such as trade credit, bank credit, factoring, forfaiting, export credit insurance, export credit guarantee, export credit agency (ECA) financing, etc.
Business Risk Management and Coverage
This chapter identifies the main types of business risks faced by exporters and importers such as commercial risk, political risk, economic risk, legal risk, transport risk, currency risk, interest rate risk, etc. It also demonstrates how to identify, measure and manage business risks in international trade using various tools and techniques such as risk matrix, risk mapping, risk mitigation plan etc. It also describes the tools and techniques for risk mitigation and coverage in export-import transactions such as hedging instruments (forward contracts futures contracts options contracts swaps contracts), insurance policies (marine insurance cargo insurance credit insurance), guarantees (performance guarantee advance payment guarantee), Customs Clearance of Import and Export Cargo
This chapter explains the customs procedures and regulations for import and export cargo. It covers the customs documents and declarations required for import and export cargo such as invoice, packing list, bill of lading, air waybill, certificate of origin, certificate of inspection, certificate of analysis, etc. It also outlines the steps involved in customs clearance of import and export cargo such as submission of documents, assessment of duty and tax, payment of duty and tax, examination of goods, release of goods, etc. It also discusses how to deal with customs inspections, audits, disputes, and penalties for import and export cargo.
Logistics and Characteristics of Modes of Transportation
This chapter describes the components and functions of logistics in international trade such as transportation, warehousing, inventory management, order processing, packaging, material handling, etc. It also compares the characteristics, advantages, and disadvantages of different modes of transportation for import and export cargo such as road transport, rail transport, air transport, sea transport, inland water transport, multimodal transport, etc. It also guides how to select and arrange the most appropriate mode of transportation for import and export cargo based on factors such as cost, speed, reliability, safety, availability, capacity, etc.
Characteristics of Shipping Industry
This chapter explores the features and structure of the shipping industry. It explains the roles and responsibilities of various shipping intermediaries and service providers such as freight forwarders, shipping agents, shipping lines, shipping brokers, shipping consolidators, port operators, terminal operators, stevedores, etc. It also shows how to negotiate and contract with shipping intermediaries and service providers for import and export cargo such as freight rates, freight surcharges, freight discounts, freight terms, freight contracts, etc.
This chapter examines the major shipping routes, ports, terminals and hubs in the world. It provides an overview of the global trade patterns and trends in world shipping. It also explains how to track and monitor the movement of import and export cargo in world shipping using various technologies and systems such as electronic data interchange (EDI), global positioning system (GPS), radio frequency identification (RFID), bar codes, etc. It also analyzes the current challenges and opportunities in world shipping such as security issues, environmental issues, regulatory issues, technological issues, etc.
Containerization and Leasing Practices
This chapter introduces the concept and benefits of containerization and how it facilitates international trade. It describes the types sizes specifications features and uses of containers for import and export cargo such as dry containers reefer containers open-top containers flat-rack containers tank containers etc. It also explains how to lease load unload store handle secure inspect repair maintain and dispose containers for import and export cargo. It also discusses the container leasing practices such as operating lease finance lease lease purchase etc.
Export Procedures and Documents
This chapter details the specific procedures and documents required for exporting goods from India. It explains how to comply with the legal, regulatory, taxation, quality, safety, environmental, and ethical standards for exporting goods from India. It also describes how to avail the export incentives and benefits offered by the Indian government and other agencies for exporting goods from India such as duty drawback scheme, export promotion capital goods scheme (EPCG), advance authorization scheme (AA), merchandise exports from India scheme (MEIS), services exports from India scheme (SEIS), Information Technology and International Business
This chapter explores how information technology enables and enhances international trade. It discusses the applications and benefits of information technology for export-import management such as e-commerce, e-business, e-marketing, e-procurement, e-logistics, e-payment, e-documentation, e-customs, etc. It also addresses the issues and challenges of information technology for export-import management such as cyber security, data privacy, digital divide, intellectual property rights, etc.
Export Incentive Schemes
This chapter explains the objectives and features of export incentive schemes. It describes the types and categories of export incentive schemes such as direct incentives, indirect incentives, fiscal incentives, financial incentives, etc. It also guides how to apply for and claim export incentive schemes such as eligibility criteria, application procedure, documentation requirement, claim procedure, etc.
Doing Business with Middle East Countries
This chapter provides an insight into the characteristics and opportunities of doing business with Middle East countries. It covers the cultural, social, political, economic, and legal aspects of doing business with Middle East countries such as religion, language, values, norms, etiquette, government, stability, conflict, trade relations, market potential, legal system, etc. It also suggests how to overcome the barriers and challenges of doing business with Middle East countries such as cultural differences, communication barriers, negotiation styles, business ethics, corruption, sanctions, etc.
Doing Business with Australia and New Zealand
This chapter provides an insight into the characteristics and opportunities of doing business with Australia and New Zealand. It covers the cultural, social, political, economic, and legal aspects of doing business with Australia and New Zealand such as history, geography, demography, lifestyle, government, stability, trade relations, market potential, legal system, etc. It also suggests how to overcome the barriers and challenges of doing business with Australia and New Zealand such as distance, time zone, transportation cost, competition, regulation, environmental standards etc.
Doing Business with China and Japan
This chapter provides an insight into the characteristics and opportunities of doing business with China and Japan. It covers the cultural social political economic and legal aspects of doing business with China and Japan such as history philosophy religion language values norms etiquette government stability conflict trade relations market potential legal system etc. It also suggests how to overcome the barriers and challenges of doing business with China and Japan such as cultural differences communication barriers negotiation styles business ethics corruption intellectual property rights tariffs quotas non-tariff barriers etc.
In conclusion, export import management is a vital process for businesses and countries that want to participate in the global market. Export import management involves various aspects such as foreign trade policy, export-import documentation, payment methods, pricing incoterms, export-import strategies, export marketing, export financing, risk management, customs clearance, logistics, shipping industry, containerization, export procedures, information technology, export incentive schemes, and doing business with different regions and countries. Export Import Management by Justin Paul is a comprehensive guide that covers all these aspects in a systematic and practical manner. It is a valuable resource for students, teachers, researchers, practitioners, consultants, and trainers in the field of international business.
Here are some FAQs related to the topic of the article and their answers:
What is the difference between exporting and importing?
Exporting is the process of selling goods or services from one country to another country. Importing is the process of buying goods or services from another country to one's own country.
What are the advantages of exporting?
Some of the advantages of exporting are: expanding market size, increasing sales revenue, diversifying product portfolio, reducing production cost per unit, enhancing competitiveness, gaining economies of scale, learning from foreign markets, etc.
What are the disadvantages of importing?
Some of the disadvantages of importing are: increasing trade deficit, losing domestic market share, depending on foreign suppliers, facing quality issues, facing exchange rate fluctuations, facing trade barriers, violating domestic laws and regulations, etc.
What are the factors that affect the choice of payment method and incoterm in export-import transactions?
Some of the factors that affect the choice of payment method and incoterm in export-import transactions are: the amount and frequency of the transaction, the creditworthiness and trustworthiness of the buyer and seller, the availability and cost of the payment method and incoterm, the degree of risk and control involved in the transaction, the nature and characteristics of the goods or services, the legal and regulatory requirements of the countries involved, etc.
What are some of the best practices for export-import management?
Some of the best practices for export-import management are: conducting thorough market research and analysis, selecting the most suitable foreign market and mode of entry, designing and implementing an effective export-import plan, developing and executing an export marketing strategy, choosing the most appropriate payment method and incoterm, applying for and claiming export incentives and benefits, complying with legal and ethical standards, managing and mitigating business risks, preparing and submitting accurate and complete documents, arranging and monitoring efficient logistics and transportation, negotiating and contracting with reliable shipping intermediaries and service providers, clearing customs smoothly and promptly, using information technology to facilitate and enhance export-import activities, etc.