Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 1CE
Summary Introduction
To determine: The task performed, skills needed, pay and opportunity outlook of the career.
Introduction:
Custom broker is a person licensed by custom authorities which gives clearance to imported goods through custom rules.
Expert Solution & Answer
Answer to Problem 1CE
The task performed by custom broker is track shipment, filling customs entries and payment of duties and fees. Some of the skill sets required is a good critical thinking and problem solving skills, good communication skills. The hourly wage rate in this career is $31 and annually it is $60,960. The opportunity outlook for the career in this field is an increase by 17.33% from 2016 to 2026.
Explanation of Solution
Custom broker are hired to clear the imported goods through custom rules which involve track shipments, filling customs entries, paying duties and fees. The skill set which a custom broker requires is mentioned below:
- Good critical thinking and problem solving skills.
- Clerical skills like word processing and file management.
- Should able to explain the services and procedures to clients and write reports.
- Can communicate well to interact with custom officials.
- Must be attentive.
The wage rate of a custom broker in this career is:
- Hourly wage rate- $31.
- Annual wage rate- $60,960.
The opportunity outlook for the career in custom broker has been positive since 2004. Vacancies in this job are increased by 17.33% worldwide with an average growth of 2.89% per year.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
China and India have been the world's fastest-growing economies in recent years, and Brazil is becoming a major force in international commerce. Write a short essay that summarizes how these three countries are changing the landscape of international business, and describe the arena in which each excels. Then choose some type of business that you would like to be involved in, and describe how and why you, as a manager in that business, would choose to work with other organizations in one of these three countries.
Consider complex global connections based on your own experiences. For example, what item from other part of the world did you buy for the past months? How does it arrived at the store, mall or sellers possession?
Present the advantages and disadvantages of the forms or modes of entry into the international or global market.The forms of market entry that you should consider are: export, import, subsidiaries, merger, acquisition, alliances (joint ventures), licensing and franchises.
Chapter 3 Solutions
Understanding Business with Connect Access Card
Ch. 3.1 - Prob. 3.1AQCh. 3.2 - Prob. 3.2AQCh. 3.2 - Prob. 1TPCh. 3.2 - Prob. 2TPCh. 3.2 - Prob. 3TPCh. 3.2 - Prob. 4TPCh. 3.3 - Prob. 3.3AQCh. 3.3 - Prob. 3.3BQCh. 3.3 - Prob. 3.3CQCh. 3.3 - Prob. 5TP
Ch. 3.3 - Prob. 6TPCh. 3.3 - Prob. 7TPCh. 3.3 - Prob. 8TPCh. 3.4 - Prob. 3.4AQCh. 3.4 - Prob. 1MEDCh. 3.4 - Prob. 9TPCh. 3.4 - Prob. 10TPCh. 3.4 - Prob. 11TPCh. 3.4 - Prob. 12TPCh. 3.5 - Prob. 3.5AQCh. 3.5 - Prob. 3.5BQCh. 3.5 - Prob. 13TPCh. 3.5 - Prob. 14TPCh. 3.5 - Prob. 15TPCh. 3.5 - Prob. 16TPCh. 3.6 - Prob. 3.6AQCh. 3.6 - Prob. 17TPCh. 3.6 - Prob. 18TPCh. 3.6 - Prob. 19TPCh. 3 - Prob. 1CECh. 3 - Prob. 2CECh. 3 - Prob. 3CECh. 3 - Prob. 4CECh. 3 - Prob. 1CTCh. 3 - Prob. 2CTCh. 3 - Prob. 3CTCh. 3 - Prob. 4CTCh. 3 - Prob. 1DCSCh. 3 - Prob. 2DCSCh. 3 - Prob. 3DCSCh. 3 - Prob. 4DCSCh. 3 - Prob. 6DCSCh. 3 - Prob. 1VCCh. 3 - Prob. 2VCCh. 3 - Prob. 3VC
Knowledge Booster
Similar questions
- You are operating in Jamaica and want to market your Hand Sanitizers to Brazil. Conduct an assessment of the mode of entry you will utilize based on the 5 modes discussed in the course (exporting, licensing arrangements, partnering and strategic alliances, acquisitions, establishing new, wholly owned subsidiaries). Discuss two (2) potential advantages and two (2) disadvantages of the mode of entry selected. Conduct research on two (2) companies that failed when using the mode of entry you have selected for your product. Company names must be stated and what led to the failure must be clearly identified.arrow_forwardWhen considering entering international markets, there are some significant strategic and tactical decisions to be made. Each entry mode has different pros and cons, addressing issues like cost, control, speed to market, legal barriers, and cultural barriers with different degrees of efficiency. In this perspective, discuss any two methods of doing business internationally. You are also required to briefly discuss advantages and disadvantages. Use real life examples to support your answer.arrow_forwardMr. Rajesh Kumar approached your consulting firm for advice regarding international expansion. His hotels and resorts company does not have any experience at all in venturing into business overseas. Amir, your manager will explain to Mr. Rajesh on the entry methods for international expansion, however he asked you to advise Mr. Rajesh first on the three basic entry decisions that he must consider before choosing the entry methods. Discussarrow_forward
- Foreign and Domestic Based Intermediaries play critical roles in the success of International Business Required: 1. Examine the role of two (2) Foreign Based Intermediaries. 2. Examine the role of two (2) Domestic Based Intermediaries. 3. Would you agree they have significant impact in facilitating international business and mitigating risk?arrow_forwardI want explain this Questionarrow_forward. Explain how travel distribution systems work in connecting customers and suppliers2. Discuss the social, economic and technological factors that have influenced the evolution of tourism as a global phenomenon3. Assess the roles, responsibilities and impact of government, private sector and media in international tourism development and management4. Evaluate international tourism trends and their impact on environmental, economic, cultural and social developmentarrow_forward
- You have been exposed to the classical theories and Modern Theories of Trade.I. Discuss two (2) Classical Theories of Trade II. Discuss two (2) Modern Theories of Trade III. In your view which of these theories can be relied on today for successful international trade.arrow_forwardFor an exchange to take place successfully, all the gaps in the marketing process should be successfully covered between production and consumption. There are certain gaps that are most relevant in the marketing process of CBD oils in South Africa. Discuss two intermediaries of your choice that would be responsible for closing the three gaps; the housing gap, the time gap and the info-gap.arrow_forwardWhat are the performance criteria for a successful foreign transportation strategy?arrow_forward
- You are operating in Trinidad and want to market your Petroleum Gas to Brazil. Conduct an assessment of the mode of entry you will utilize based on the 5 modes discussed in the course (exporting, licensing arrangements, partnering and strategic alliances, acquisitions, establishing new, wholly-owned subsidiaries). Discuss two (2) potential advantages and two (2) disadvantages of the mode of entry selected. Conduct research on two (2) companies that failed when using the mode of entry you have selected for your product. Company names must be stated and what led to the failure must be clearly identified.arrow_forward"All commercial transactions between two or more countries, including sales, investments, and transportation, that need be managed carefully, are classified as international business." Explain the job of a manager in the management of an international firm in order to help the company succeedarrow_forwardWorldwide sourcing of raw materials, components, finished goods andservices will continue to increase. Do you agree or disagree with thisstatement? Justify your answer with your research.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
