Please enable JavaScript.
Coggle requires JavaScript to display documents.
Chapter 1: Challenges in International Business - Coggle Diagram
Chapter 1: Challenges in International Business
Todays world of Business
Countries vary internally
Every country in the world is a sovereign entity
Companies that do business internationally, they are subject to the law in the country they operate in
Political relationships influence what companies can do
Cultural differences are also
reflected in the acceptance of certain products.
Why do Companies go international?
Minimize competitive risks
Diversify sources of sale and supplies
Expand sales
Acquire Resources
Global perspective of international business
People around the world are more connected to each other than before
Information and money flows more quickly
Goods and services produced in one part of the world are increasingly available in all parts of the world.
GLOBALIZATION: the era we live in today
Information exchange has led to a greater understanding of other cultures
Globalization has allowed democracy to win over autocracy
Some compare Globalization to survival of the fittest
What is and why study international business?
International Business is all commercial transactions between two or more countries
international business comprises a large and growing portion of the world’s total business.
profit-related activities conducted across national boundaries.
GLOBALIZATION
Information Technology, the status of emerging economies and workforce diversity
Consumers throughout the world enjoy greater product selection at better prices than ever before.
International Business as we know will continue to change and develop in the future, therefore we need to be ready.
Participants of international business
Companies of all types and sizes and in all types of industries
Small companies looking to change their strategies