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International Business

International Business

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Published by Kiran Virani
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Published by: Kiran Virani on Apr 13, 2011
Copyright:Attribution Non-commercial

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11/28/2014

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I
NTERNATIONAL
B
USINESS
(IB)
EYUR
D V
ASAVA
..
Module 1
1.G
LOBALIZATION
 
AND
I
NTERNATIONAL
B
USINESS
 
Definition of Globalization
The broadening set of interdependent relationships among people from differentparts of a world that happens to be divided into nations
Definition of International Business
All commercial transactions—including sales, investments, and transportation—that take place between two or more countries
Factors in Increased Globalization
Increase in and expansion of technology
Liberalization of cross-border trade and resource movements
Development of services that support international business
Growing consumer pressures
Increased global competition
 
Changing political situations
Expanded cross-national cooperation
The Criticisms of Globalization
Threats to national sovereignty
Growth and environmental stress
Growing income inequality
Reasons That Firms Engage in International Business
Expanding sales
Acquiring resources
Minimizing risk
W
HAT
 
IS
 
 THE
 
NATURE
 
OF
 
INTERNATIONAL
 
BUSINESS
?
Globalization creates international business opportunities.
International business is done by global sourcing, import/export, licensing, andfranchising.
International business is done by joint ventures and wholly owned subsidiaries.
International business is complicated by different legal and political systems.
 
Global Economy
Resources, markets and competition are worldwide in scope.
Globalization
The process of growing interdependence among elements of the globaleconomy.
Global Sourcing
Firms purchase products and services from around the world for localuse.
International Business
Conducting commercial transactions across national boundaries
Five Reasons to Pursue International Business
1. Expanded profit potential2. More customers3. More capital4. Lower cost suppliers5. Lower costs of labor

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