Understanding Business with Connect Access Card
Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
Question
Book Icon
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
Check Mark

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
There are many modes of entry for international business.Discuss the advantages and disadvantages of each of these.If you are a small food and beverage company and plan to enter a country with high business risk,which mode of entry would you recommend.
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.
When 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.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
  • Text book image
    Marketing
    Marketing
    ISBN:9780357033791
    Author:Pride, William M
    Publisher:South Western Educational Publishing
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing