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Challenges in International Business - Coggle Diagram
Challenges in International Business
International Buisness
The business activity of importing and exporting contributes to globalizations (including trade and investment)
Business needs to adapt policies and strategies that are relevant to the product and locations
Definitions: Private and governmental commercial transactions between countries
The international business that is managed with the right policies have more profitability of its transactions than those that don't
Influences on companies: Legal policies, economy and cultural environment
When bbuisness go abraod they neee to adapt to the regions practices
Operating International
International business are increasing which means that their is a lot of competition in the world.
To compete internationally you need to be to invest a lot
E-comerce is a form of international business bc it consist on international transaction.
Local, regional and national government work to offer companies incentives to locate in specific places
Participants in International Buisness
Common participants: Manufacturing companies, service companies, and retail companies all search for customers outside their countries.
Technological advances has allowed electronic distributions boosting small and large companies international trade
International business
Smalls businesses increase the numbers of entrepreneurs, federal and state exportations. Before small business export, they usually franchise because its takes lower investment to do so
Multinational corporations are leaders in global trends and even earn most of sales outside the United States
Global Perspective
Global buisness is dif. than globalization
Global business : business that operate in different countries
Globalization can also be a threat for national workers companies will look for cheap labor (lower wages)overseas
Globalization: Merge markets together in one global market place
Globalization is a too that has allowed information and money to flow fast. Good and services and produced fast because of it
The power of globalization has shaped domestic politics and foreign relations
Globalizations takes advantage of labor, energy, land and capital of other nations bc of cost and quality
A countries geographic and economic barriers can influence peoples movement from one region to another
Companies go aboard to: Minimize competitive risk, acquire resources, expand sales and diversify sources of sales and supplies