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CH 1 INT. BUSINESS - Coggle Diagram
CH 1 INT. BUSINESS
int business vs domestic business
cultural, political, economic, and legal systems,
countries are different
e international business level are more complex
int: transactions involve converting money into different currencies
int: must find ways to work within the limitations
and constraints imposed by the various governments
companies go international
Minimize competitive risk
Acquire resources
Expand sales
Diversify sources of sales and supplies.
international business: between multiple countries
private
commercial transactions
governmental
economic environment
rich countries have higher demand for expensive goods
poorer countries have higher demand for labor and training
laws are different
laws are different
taxes
working hours
minimum wage
Why study Int. Business?
comprises a large and growing portion of the world’s total business
global events
affect almost all companies
Diversity