There are several United States agencies/organizations that work together to str
ID: 1203245 • Letter: T
Question
There are several United States agencies/organizations that work together to strengthen the United States' competitiveness in the trade industry, promote trade and investment, and ensure fair trade and compliance with trade laws and agreements. Some of these are listed below. Please discuss their roles in international business. Select 4-5 of the following entities listed below to discuss.
Department of Commerce
Department of Agriculture
Export-Import Bank of the United States
Overseas Private Investment Corporation
Small Business Administration
Department of State
Trade and Development Agency
Trade Representative
Department of Treasury
Explanation / Answer
1. Department of Commerce: The United States Department of Commerce is a very important trade organization as it enforces the Trade Laws and Agreements. They are responsible for promoting job creation, economic growth, sustainable development, and improved standards of living for Americans. The workforce of the Department of Commerce is very diverse and is made up of economists, Nobel winning scientists, foreign service officers, patent attorneys, law enforcement officers, and specialists in everything from international trade to aerospace engineering. Hence the Department of Commerce is responsible for promoting jobs which inturn increases the chances of International Busines.
2. Department of Treasury: The Department of Treasury is an important organization the major responsibility of the organization is to predict and prevent economic and financial crises. If a country goes into Economic Crisis then it will be very difficult for the country to compete in the International Business. Hence the department of Treasury plays an important role in the maintaining the International Monetary Funds, the Exchange Stabilization funds etc.
3. Small Business Administration: This agency was established by the government to promote Entrepreneurs and Small Businesses. The main activities of the agencies are represented as 3c's which are capital,contracts and counseling. This agency has record in lending loans and they are a one of the institutions that play a major role in promoting business in US. When a entrepeur is promoted it indirectly promotes hundreds a jobs in future which the country might use to boost its net investments. and net National Income. They are one of the strong influencers of International Business.
4. Department of State: This is the States federal executive department which is responsible for the international relations of the United States. The Department of State is equivalent to department of Foreign MInistry of other countries. They are responsible for the trade relationships with each country and they are also responsible for maintaining ethical standards of Business. This department is also responsible for multilateral treaties. Hence this department has a strong influence on the trade relationships that US has with every other country.