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1 - Chapter One The Nature and Complexity of International...

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Chapter One -- The Nature and Complexity of International Business Assignments: Read Chapter One in the Required Customized Textbook. In Chapter One we explore the nature of International Business. We note what the major differences between IB and domestic business are. Basically, these fundamental differences arise from firms internationalizing their Value Creation or Value Added Chains (VACs) by first exporting and then investing with FDI (Foreign Direct Investment) to put parts or all of those VACs in otter nations, in other regions. While bringing active management of firms' VACs into new political, economic, social, legal, cultural, and financial environments creates opportunities for both upstream enhanced production and increased downstream sales, it also exposes these firms to increasing complexity and risk that each of these environments present. It is this composite, interrelated complexity of new environmental risks that makes IB so different from domestic business.
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