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Domestic VS International Business (Domestic Business (Customers are more…
Domestic VS International Business
Domestic Business
Customers are more homogeneous
Business is conducted within one country
Business is done using one currency
Quality standards are low
Business takes less capital investments
Typically includes easier communication
Business research requires less work and is easier to conduct
International Business
Customers are more heterogeneous
Business is conducted between countries
Business is done using multiple currencies
Quality standards are high
Business takes high capital investments
Requires more rules and regulations based on different countries laws
Technological issues can arise
Lebanon VS United States
Lebanon uses Lebanese Pound
They have an advantage speaking Arabic, as other surrounding countries speak Arabic
They have a large area of land surrounded by water, so they have multiple means of transporting goods
Lebanon is a lot smaller, so they produce a lot less products and generate less money
Lebanon is closer to trade with Asian and European countries
Lebanon has relations with other Arabic countries who are great economically
