INDIVIDUAL REFLECTION PAPER

ASM401 (FUNDAMENTAL OF BUSINESS)

International Business has many related to me. How is it related to me? It is related
to me because I want to be a successful businessman on the future. So, to begin my topic
on this International Business, let me introduce it a little bit. The idea of "international
business" describes economic transactions between people, businesses, and governments
that traverse international boundaries. In this essay, we will explore the fundamental aspects
of international business and its significance in today's interconnected world.
Globalization can be defined as the opening of a wider local and nationalistic outlook
of an interdependent world global market with free transfer of capital, goods, and services
across national border frontiers (Islam, 2019). Companies are now able to expand their
activities beyond national borders thanks to the ease with which markets and economies
have been integrated by globalization. People are divided by several factitious categories
and partitions, such as identity politics, around the world where all cultural groups feel their
members are to some extent being attacked, bullied, perse-cured, and discriminated against
(Lin, 2020). Companies must tailor their products, services, and marketing strategies to
resonate with different cultural preferences, ensuring customer satisfaction and building
strong relationships. International trade is simply the sale and purchase of services and
goods beyond the national borders. International trade can be done by governments
or firms that have the stamina of operating on the international scale (Samue,
2019). Next is law and regulation. It is important in international business. Legal has three
different types. Different types and sources of statutes, ordinances, decrees, orders, by-
laws, case laws, treaties and codes, continuously proliferate within and beyond states
(Kosti, 2019). Adhering to these legal frameworks is essential for maintaining ethical
business practices and avoiding legal challenges.
In conclusion, international business serves as a catalyst for global economic
integration and growth (Dunning, 2017). It enables companies to expand their operations,
tap into new markets, and leverage cultural diversity for sustainable success in an
interconnected world.
 REFERENCE

Dunning, J. H. (2017). The eclectic paradigm as an envelope for economic and busiess theories of
MNE activity. International Business Review, 2-15.

Islam, R. &. (2019). GLOBALIZATION AND ITS IMPACT ON INTERNATIONAL BUSINESS. Humanities &
Social Sciences Reviews, 256 - 265. Retrieved from
https://www.researchgate.net/publication/333801541_GLOBALIZATION_AND_ITS_IMPACT_
ON_INTERNATIONAL_BUSINESS

Kosti, N. &.-F. (2019). The Co-Production of Primary and Secondary Legislation. 432-457.

Lin, J. C. (2020). Understanding Cultural Diversity and Diverse Identities.

Samue, A. (2019). International Trade and Its Impact on the Global Economy. Retrieved from
https://www.researchgate.net/publication/335703233_International_Trade_and_Its_Impact
_on_the_Global_Economy