Ch 1 - Overview of International Business (2)

Ch 1 - Overview of International Business (2) - CHAPTER 1...

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CHAPTER 1 OVERVIEW OF INTERNATIONAL BUSINESS Business of the Olympics: Intense reflection of international business Government of games by IOC Competition for hosting Revenue sources for the Olympics o Broadcast rights o Corporate sponsorships What is International Business? Business transactions between parties from more than one country Parties may include Private individuals o Individual companies o Groups of companies o Governmental agencies International vs Domestic Business? o Currency conversion o Legal systems o Culture o Availability of resources Why Study International Business? o Large organizations o Foreign-owned subsidiaries o Small businesses o Competitors o Business techniques and tools o Cultural literacy International Business Activities: o Exporting and Importing o International Investments o Licensing: firm in one country licenses the use of its intellectual property to a firm in a second country in return for a royalty payment
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Ch 1 - Overview of International Business (2) - CHAPTER 1...

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