International Business concept
International Business encompasses any business transaction that involves parties from more than one country.These transaction can take various forms and can involve individual companies, group of companies, and or government agencies.
International business can differ from domestic business because of differences in currency, legal system, cultures, and resource availability.
Studying International Business is important for several reasons:
- Any organization you work for, even if small, is likely to be affected by the global economy.
- You some day may work for a foreign-owned firm.
- You need to keep pace with other managers who are learning to function in International settings.
- you need to be culturally literate it today’s world.
International Business activity can take various forms. exporting involves selling products made in one’s own country for use or resale in another country. Importing involves buying products made in other countries for use or resale in one’s own country.
Foreign Direct Investment is the investment made for the purpose of controlling property, assets, or companies located in foreign countries. Others common forms of International Business activity include licensing, franchising,and management contracts.
International Business is one that engages in commercial transaction with individuals, private firms, and or public sector organizations that cross national boundaries. Firms with exclusive international involvement are called multinational corporations, or MNCs . Special forms of multinational corporations include multi-domestic corporations, global corporations, and transnational corporations.
Evidence of International Business activity can be traced back thousands of years, many of today’s major International trading patterns have evolved over several countries. During the 1950s the united states dominated the global economy because many other industrialized countries were rebuilding after World War II.But international competition began to increase during the 1960s and eventually led to the end of U.S.dominance in the 1970s. In the 1980s many U.S. firms gradually began to regain their competitiveness.As the 1990s dawned, global marketplaces and global industries were becoming fairly well-defined.
International Business has grown dramatically in recent years because of market expansion, resource acquisition, competitive force, technological changes, social changes and changes in government trade and investment policies.
Related Article You may read:
International Business What is International Business Any business transaction between parties from more than one country is the part of international business.Examples of such transactions included buying raw materials or inputs in one country and shipping them to another for processing or assemble, shipping finished products from one…
Continue reading »
ISBP 600
ISBP 600 ISBP 600 ISBP 600 image The Application and Issuance of the Credit 1. The terms of a credit are independent of the underlying transaction even if a credit expressly refers to that transaction. To avoid unnecessary costs, delays and…
Continue reading »
Significant Changes in UCPDC-600
Significant Changes in UCPDC-600 Compared with Publication no. 500 ************************************ #Article :1 :It has been expressly indicated that UCP600 contains rules. # :2 :All the parties including Banks and Clients have been categorically defined. Also different terminologies have been clarified. # :3: :All the interpretations of…
Continue reading »
UCPDC 600 UCPDC 600– is the acronyms of Uniform Customs and Practice for Documentary Credits 600.ICC introduces UCPDC 600 on 1st July 2007 to make international business through Letter of Credit with a uniform format all over the world. UCPDC 600– is the acronyms of…
Continue reading »
URR 725 URR 725 means Uniform Rules for bank to Bank Reimbursements which is approved on 15-16.04.2008. in force since 01/10/2008 URR 725 features It has 17Articles It has 4 main titles A. General Provisions and definitions. B….
Continue reading »
URR 725, URC 522, ISBP 745: Their uses and Implication in Foreign Trade URR 725, URC 522, ISBP 745: Their uses and Implication in Foreign Trade: Uniform Rules for Bank-to-Bank …
Letter of credit operation chart Explain of the the above image: Exporter ↔ Importer: Negotiation. Importer → Importer Bank: Import license, L/C Exporter: Commodity Importer Bank → Exporter Bank: …
INTERNATIONAL TRADE & FOREIGN EXCHANGE – By Anwarul Haque Qureshi The importance of international trade in the economy of a country is too well known to need emphasis. A number …
FUNCTIONS OF FOREIGN EXCHANGE – By Anwarul Haque Qureshi Commercials Banks have a vital role in the foreign trade of a country. They provide the finance needed to execute the …
How Many Parties are involved in Letter of Credit (L/C) There are mainly 6(six) parties involved in a letter of credit which may be summed up as under: a) Opener: …
What is Letter of Credit (L / C) L / C (LETTER OF CREDIT) : L /C is an undertaking given by a Bank on behalf of its customer to …
Risk in Foreign Exchange Business Any person dealing in foreign exchange business must familiar with the risks involved.Some of the risks are peculiar to foreign exchange business, while some …
HOW TO TRACK SEA CARGO LOCATION Please click links below of major shipping lines to trace your sea shipments. Track your Sea shipment here First go to the links …
Export import tutorial IMPORT Step One: THE PLAN The first step when importing is to determine why you are importing. Ask yourself the following three questions: Is the product(s) you …
Objectives of Exchange Control (i) Protection of Balance of Payments. One of the important objectives of exchange control is protection of balance of payments. When the balance of payments deficit …
