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International Business:
International Business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries. International Business is also known as globalization.
What are the Benefits of International Business:
Before you pass on expanding into foreign markets, consider some of these potential advantages of International trade.
Increased revenues, Decreased competition. Longer product lifespan, Easier cash-flow management.
Better risk management, Benefiting from currency exchange. Access to export financing, Disposal of surplus goods.
What are some examples of International Business:
Some such examples are Amazon, Citigroup, Coca-Cola, etc. These companies have independent operations in each country, and each country has its own set of offices, employees, etc. In fact, even the products and marketing campaigns are customized as per local needs.
Why International Business is needed:
International Business also increases competition in domestic markets and introduces new opportunities to foreign markets. Global competition encourages companies to become more innovative and efficient in their use of resources. For consumers, International Business introduces them to a variety of goods and services.
What are the jobs for International Business:
In-Demand International Business Careers.
Management Analyst, Marketing Manager. Executive, Human Resources Manager.
Financial Analyst, Economist, Policy Analyst.
Which country is best for International Business:
1 – Singapore, 2 – Sweden, 3 – Canada, 4 – Australia. 5 – Switzerland, 6 – United States, 7 – Netherlands, 8 – United Kingdom.
Features of International Business:
Large scale Operations, Immobility of Factors: Heterogeneous Markets, Integration of Economies:
Dominated by developed countries and MNCs: Beneficial to Participating Countries:
Keen Competition, Special Role of Science and Technology:
Objectives of International Business:
To promote social and cultural exchange among the nations. To assist developing countries in their economic and industrial growth by inviting them to the International market thus eliminating the gap between the developed and the developing countries. To assure sustainable management of resources globally.
Global Trade has been existing since centuries. As a result of globalization, Becoming more International.
Domestic Business:
Conducts Business in one country.
International Business:
Conducts Business across national borders.
Globalization:
Increasing integration of the world economy.
Global Dependence:
All Countries depend on each other for trade.
Another term of International Business is Will be called as Global Business.
Home Country:
The country in which the selling firm is located.
Host Country:
A representative travels to another country to sell products will be called as Host Country.
History of Global Business:
15,000 years ago, trade took place between China, India and Japan. In the 11th Century, England, France, Spain and Portugal used ships to move products between countries.
Global Business Environment:
Trade relationship between countries and companies depends on Cultural, Political and Economic issues.
Cultural Factors:
Depends on Religious issues.
Political Factors:
Depends on New Governments.
Economic Factors:
Depends on Natural Disasters, inflation etc.
Vital Elements of Successful Marketing:
Depending on Product, Price, Place and Promotion. Business people should understand the financial issues in International trade.
Accounting and Finance:
are major elements in International trade. It varies According to exchange rates.
Participants in International Trade:
Individual consumers, States and provinces, Companies and Countries. This is the information provided for MBA Candidates to understand at a glance with one page description in a simple way. If you want to know in deep, can go to see books and E-books.
Wishing you all the best
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