International Business Essay - 1696 Words

International Business 1. International Business is a transaction between two or more countries and is primarily based in a single country, but acquires some meaningful share of its resources or revenues (or both) from other countries. It comprises a large growing portion of the worlds total business. Although its riskier and more expensive it allows for greater variety on different products and services at lower prices. Domestic Business is a transaction within the home country; it acquires all of its resources and sales, and all of its products or services within a single country. A well functioning domestic economy will allow for smooth operations for International Business. The difference between international and domestic†¦show more content†¦Imports and exports are a form of international business that can affect a countries purchasing power. When a company engages in international business to acquire resources they search for raw materials, products, and services that are not available in the home country. A finished product that a company produces may have a combination of products shipped from several countries. For example, diamonds shipped from Sierra Leone are made into the finished product of high priced earrings, rings or bracelets. However, some countries arent aware of the acts, behaviors, and practices that take place in an underdeveloped country to acquire a resource for them. Where as domestic operations are monitored by the home country. When a company wants to minimize risk it seeks foreign markets to take advantage of the fluctuating business cycle. For example, the product life cycle displays the rise and fall of a product. The stages are birth, growth, maturity, and decline. This cycle may take place for a particular product during different times and different locations. Therefore, if a product dies or a country goes into recession, profits can be recouped in another market. Exporting means to make a product in a companys domestic marketplace and selling it in another country. To increase revenues is the number one reason companies export goods, its also less risky than foreign direct investment. Exporting is good for a countries economy moreover; itShow MoreRelatedInternational Business Ventures2671 Words   |  11 PagesInternational Business Ventures Measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. For growth to be optimal, management must first be able to identify the most attractive prospective leadsRead MoreChallenges of International Business Management1037 Words   |  5 PagesCHALLENGES OF INTERNATIONAL BUSINESS MANAGEMENT What are the challenges of International Business Management? International business management is a term that is used collectively to describe all commercial transactions which include; †¢ Private †¢ Governmental †¢ Sales †¢ Investments †¢ Transportation The above take place between two or more nations. It involves all business activities which partake in cross border activities of goods, services and resources between nations. PrivateRead MoreInternational Business1578 Words   |  7 PagesInternational business contains all business transactions private and governmental, sales, investments, logistics, and transportation that happen between two or more regions, nations and countries beyond their political limits. 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International business such as an essential subject for students around the world because international business is vital ingredient in entrepreneurshipRead MoreInfluential Factors of International Business and International Business Environment4145 Words   |  17 PagesA Business Growth and Strategy Project On INFLUENTIAL FACTORS OF INTERNATIONAL BUSINESS AND INTERNATIONAL BUSINESS ENVIRONMENT By: Ankit D Jethani 6937 Business Environment consist of every factors influential to the business operations. These factors are classified into two broad categories. These are: a) External or UncontrollableRead MoreInternational Business Environment6667 Words   |  27 PagesModule specification INTERNATIONAL BUSINESS ENVIRONMENT Code: PGBM04 Credits: 15 Level: Masters FBL, Business School Board: Postgraduate Business Studies Learning Hours: 150 of which 30 CONTACT hours Rationale 1. The international business environment is multi-dimensional, including economic, political, socio-cultural and technological influences. While each can be viewed in specific national settings, increasingly they have become interrelated through processes of globalisation. In particularRead MoreInternational Business5797 Words   |  24 Pagesof world output and world exports accounted for by the United States and other long-established developed nations is unlikely. FALSE 23. (p. 21) A current trend in international business is the growth of medium-sized and small multinationals, known as mini-multinationals. TRUE 24. (p. 22) Today, the risks involved in doing business in countries such as Russia are low, but so are the returns. FALSE 25. 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Business Administration has over the years taken the form of a formal field of knowledge, besides engineering medical and even closely-related Economics. In the 20th century, with the development and growth of business schools in America and Europe, the dynamics of business administration changed. With more research conductedRead MoreThe Problem Of International Business842 Words   |  4 Pages International business c Trade occurring between one or more countries worldwide. Balance of trade Difference in value of a countries imported and exported goods. Balance of payments Also known as BOP, is the monitoring of all international money transactions during specific times. Global dependency The dependency of one nation to another. Competitive advantage The advantage a company has over its competitors, allowing them to achieve greater