Reading: International Business
Business Management for Every Enterprise
Unit 5
International Business
International Business
International business is a word used to cooperatively explain all profitable deals (confidential and governmental, trades, assets, logistics, and transport) that take place among two or more regions, countries and nations outside their political view.
International business conducts business transactions all over the world.
Business
A business (also known as enterprise or firm) is an organization involved in the trade of goods, services, or both to consumers.
- Firms may be for profit or not for profit
International Business
Comprises all commercial transactions (private and governmental, sales, investments, logistics, and transportation) that take place between two or more:
- Regions
- Countries/ Nations
International Business Examples
Foreign retail store in another country
Operating a manufacturing plant overseas
Exporting products to other countries
Import products from foreign businesses
Invest in businesses in another country
International Business Options
An international business has many options for doing business, including:
Exporting goods and services
Giving license to produce goods in a host country
Starting a joint venture with a company
Opening a branch for producing and distributing goods in a host country
Features of International Business
The nature and characteristics of international business are:
Large scale operations
Integration of economies
Dominated by developed nations
Benefits to participating nations
Special role of science and technology
Global Business
Global business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations