This document compares and contrasts domestic and international business in 3 key areas:
1. Domestic business involves commercial transactions within one country, while international business involves transactions between two or more countries that require dealing with differences in currency, regulations, culture and more.
2. Companies engage in international business to expand sales into new markets, access resources not available domestically, and minimize risk through geographic diversification across business cycles in different countries.
3. The main factors that influence international business operations include political and legal environments, cultural differences, economic conditions, and geographic considerations in various countries. Managing these influences requires strategic choices around market entry modes and organizational structure.
This document compares and contrasts domestic and international business in 3 key areas:
1. Domestic business involves commercial transactions within one country, while international busine…