Christian C.

Magbanua BSMA II-A February 18, 2022

CHMSC-FT

Evaluate – Test No. 1 (Reflective, Thinking and Analytical Skills)

1. What is international business?

In my own words, international business is the process wherein the distributing of goods and
services have been crossed in any borders internationally. We exchange our products globally so that
foreign markets will be more productive. Another thing, international business includes profit which is
the center all among transactions. For example, you ordered a set of tables and chairs online. It is
extravagant because the entity is from Taiwan. You, as the buyer patiently and calmly waits the product
you purchased. However, you will undergo first with ordinal currency into TWD. Luckily, the seller has an
option for you to do and suggests the mode of payment he or she receives will be in account. The
product you received is not longer to wait and it lasts for 4 days even you can pay for freight-in
expenses. The trading of money and a product is now called international business.

2. Why is an understanding of strategic management important in the context of international

business?

International business itself intentionally needs a strategic management. Strategy is the main
technique mostly companies should engage in order to flourish. As I understand strategic management
in Module 1, it is an integrated, central and externally oriented concept. Another words, it is a method,
framework, and analysis which businesses most do with. For example, Jollibee Incorporations’ strategies
are: 1) Having a fast, clean, and cheap food 2) cater customers about their needs 3) consistency and
reliable to all branches and outlets. In order to grow its extent business, they used a method like SWOT
analysis to identify its strengths, weakness, opportunities to grant with, and threats or disadvantages.
Always remember, Jollibee Incorporation is now existing and operating multiple of years with
excellence, giving customer satisfaction, and services. Strategic management is basically a key or tool in
setting goals, procedures, and objectives of business in administering competition among companies
internationally.

3. Why is an understanding of entrepreneurship important in the context of international

business?

In other hand, entrepreneurship is also important on international business. Entrepreneurs

should individually manage to his/her business to capitalize profit if there is a margin, satisfies
employees or workers seeking for proper employment, and pays expenses and taxes as usual as a
normal deduction, and etc. International business extremely needs a group of entrepreneurs which
bond together to expand the length of its production to be more effective. Of course, we defined
international business as the transferrable of goods and services across borders. Entrepreneurship is
connected because an entrepreneur can innovate or create new tactics of ideas, strategy, methods of
flawing business into most affordable costs, and facing risks as possible. International business and
entrepreneurship are interconnected with the implementation and formulation of new ideas into
certain markets as engage to the development and highly recommendation of distributing goods or
services into the hands of customers properly and appropriately.