International business
What is International Business?
International business involves the transaction of goods, services, technology, capital and/or knowledge across national borders and on a global scale. This includes exporting and importing, foreign direct investment (FDI), strategic alliances and business partnerships. Companies engaged in international business must navigate a complex web of regulations, trade policies and cultural barriers to succeed in foreign markets.
Benefits of International Business
Participating in international business offers a number of advantages including:
Market Growth: Access to new customers and markets that can offer further growth opportunities.
Risk Diversification: Spreading operational and financial risks across multiple markets.
Economies of Scale: Reducing unit costs by expanding production and distribution globally.
Innovation and Competitiveness: Exposure to new ideas and technologies that can improve business competitiveness and efficiency.
