king revision.docx - International business involves...

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International business involves business transactions between parties from various countries. It includes activities such as the buying and selling of inputs, raw materials or finished products across borders. Large organizations practice international business by operating various plants in different countries to capitalize on the availability of local resources. These organizations can also borrow money from one country to finance operations in another country. Since different countries have different economic, legal, and cultural systems, parties engaging in international business are required to adjust their systems. There are five forms of international business activity namely: exporting and importing, international licensing, international investment, international franchising, and international management contract. All these forms of international business influence a country’s economic dynamics, thus enhancing economic development. With the recent technological development that has

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