Introduction_to_I_B

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international business

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Introduction to IB and Why companies are engaged in IB?:

Introduction to IB and Why companies are engaged in IB?

INTRODUCTION:

INTRODUCTION International business is a term used to collectively describe all commercial transactions ( private and government, sales , investments , logistics, and transportation ) that take place between two or more regions , countries and nations beyond their political boundary. Usually, private companies undertake such transactions for profit ; governments undertake them for profit and for political reasons.

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It refers to all those business activities which involves cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources include capital, skills, people etc. for international production of physical goods and services such as finance, banking, insurance, construction etc.

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A multinational enterprise (MNE) is a company that has a worldwide approach to markets and production or one with operations in more than a country. An MNE is often called multinational corporation (MNC) or transnational company (TNC). Well known MNCs include fast food companies such as McDonald's and vehicle manufacturers such as General Motors , Ford Motor Company and Toyota , consumer electronics companies like Samsung , LG and Sony .

IMPORTANCE OF I B :

IMPORTANCE OF I B Most companies are either international or compete with international companies. Modes of operation may differ from those used domestically. The best way of conducting business may differ by country . An understanding helps you make better career decisions. An understanding helps you decide what governmental policies to support.

GROWTH IN I B:

GROWTH IN I B There has been growth in globalization in recent decades due to the following seven factors: Technology is expanding, especially in transportation and communications . Governments are removing international business restrictions. Institutions provide services to ease the conduct of international business. Consumers know about and want foreign goods and services . Competition has become more global. Political relationships have improved among some major economic powers. Cross-national cooperation and agreements.

MNC’s :

MNC’s

Why companies engage in International Business :

Why companies engage in International Business Companies engage in international for a variety of reasons, but the goal is typically company growth or expansion. Whether a company hires international employees or searches for new markets abroad, an international strategy can help diversify and expand a business.

Why companies engage in International Business :

Why companies engage in International Business There are three major operating objectives that may induce companies to engage in International Business. Expanding Sales Acquiring Resources Minimizing Risk

Why companies engage in International Business :

Why companies engage in International Business Many companies look to international markets for growth. Introducing new products internationally can expand a company's customer base, sales and revenue. For example, after Coca-Cola dominated the U.S. Market, it expanded their business globally starting in 1926 to increase sales and profits

Why companies engage in International Business :

Why companies engage in International Business Companies go international to find alternative sources of labor. Some companies look to international countries for lower-cost manufacturing, technology assistance and other services in order to maintain a competitive advantage. Some companies go international to locate resources that are difficult to obtain in their home markets, or that can be obtained at a better price internationally.

Why companies engage in International Business :

Why companies engage in International Business Companies go international to broaden their work force and obtain new ideas. A work force comprised of different backgrounds and cultural differences can bring fresh ideas and concepts to help a company grow. For example, IBM actively recruits individuals from diverse back grounds because it believes it's a competitive advantage that drives innovation and benefits customers.

Why companies engage in International Business :

Why companies engage in International Business Some companies go international to diversify. Selling products and services in multiple countries reduces the company's exposure to possible economic and political instability in a single country.

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