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    What Is Globa Business

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    Farhad Hussain
    Global business consists of transactions carried out across national borders to satisfy objectives. Primary types are import-export trade and foreign direct investment such as wholly owned subsidiaries and joint ventures. Additional types include licensing, franchising, and management contracts. To operate globally, firms must consider how their idea will fit internationally, whether to enter markets through trade or investment, and how to adjust products for local conditions while countering global competition.

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    What Is Globa Business

    Uploaded by

    Farhad Hussain
    18 views1 page
    Global business consists of transactions carried out across national borders to satisfy objectives. Primary types are import-export trade and foreign direct investment such as wholly owned subsidiaries and joint ventures. Additional types include licensing, franchising, and management contracts. To operate globally, firms must consider how their idea will fit internationally, whether to enter markets through trade or investment, and how to adjust products for local conditions while countering global competition.

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    What is Globa Business

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    Global business consists of transactions carried out across national borders to satisfy objectives. Primary types are import-export trade and foreign direct investment such as wholly owned subsidiaries and joint ventures. Additional types include licensing, franchising, and management contracts. To operate globally, firms must consider how their idea will fit internationally, whether to enter markets through trade or investment, and how to adjust products for local conditions while countering global competition.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views1 page

    What Is Globa Business

    Uploaded by

    Farhad Hussain
    Global business consists of transactions carried out across national borders to satisfy objectives. Primary types are import-export trade and foreign direct investment such as wholly owned subsidiaries and joint ventures. Additional types include licensing, franchising, and management contracts. To operate globally, firms must consider how their idea will fit internationally, whether to enter markets through trade or investment, and how to adjust products for local conditions while countering global competition.

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    WHAT IS GLOBAL BUSINESS?

    Global business consists of transactions that are devised and carried out across national borders
    to satisfy the objectives of individuals, companies, and organizations. These transactions take on
    various forms, which are often interrelated. Primary types of international business are import-
    export trade and foreign direct investment (FDI). The latter is carried out in varied forms,
    including wholly owned subsidiaries and joint ventures. Additional types of international
    business are licensing, franchising, and management contracts.

    As the definition indicates, and as for any kind of domestic business, “satisfaction” remains a
    key tenet of global business. Beyond this, because transaction environmental factors, to different
    constraints, and to quite frequent conflicts resulting from different laws, cultures, and societies.
    The basic principles of business still apply, but their application, complexity, and intensity vary
    substantially. To operate outside national borders, firms must be ready to incorporate
    international considerations into their thinking and planning, making decisions related to
    questions such as these:

    ● How will our idea, good, or service fit into the international market?
    ● Should we enter the market through trade or through investment?
    ● Should I obtain my supplies domestically or from abroad?
    ● What product adjustments are necessary to be responsive to local conditions?
    ● What threats from global competition should be expected and how can these threats be
    counteracted?

    When management integrates these issues into each decision, international markets can provide
    growth, profit, and needs satisfaction not available to those that limit their activities to the
    domestic marketplace. The aim of this book is to prepare you, as a student of international
    business, to participate in this often complex decision process.

    Czinkota, Michael R., Ilkka A. Ronkainen and Michael H. Moffett. Fundamentals of


    International Business. Mason: South-Western, 2004.

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