What is international business

The major task of international business involves understanding the sheer size of the global marketplace. There are currently more than national markets in the world, presenting a seemingly endless supply of international business opportunities.

However, the diversity between nations presents unique considerations and a plethora of hurdles, such as:. Some of the challenges considered by companies and professionals involved in international business include:.

The economic environment may be very different from one country to the next. The economy of countries may be industrialized developed , emerging newly industrializing , or less developed third world. Further, within each of these economies are a vast array of variations, which have a major effect on everything from education and infrastructure to technology and healthcare. For example, free market economies allow international business activities to take place with little interference.

On the opposite end of the spectrum, centrally planned economies are government-controlled. The political environment of international business refers to the relationship between government and business, as well as the political risk of a nation.

Therefore, companies involved in international business must expect to deal with different types of governments, such as multi-party democracies, one-party states, dictatorships, and constitutional monarchies.

Some governments may view foreign businesses as positive, while other governments may view them as exploitative. Because international companies rely on the goodwill of the government, international business must take the political structure of the foreign government into consideration. International firms must also consider the degree of political risk in a foreign location; in other words, the likelihood of major governmental changes taking place.

Just a few of the issues of unstable governments that international companies must consider include riots, revolutions, war, and terrorism. The cultural environment of a foreign nation remains a critical component of the international business environment, yet it is one of the most difficult to understand. Full text search our database of , titles for International Business to find related research papers.

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