chapter 1 - Businesses affected by international...

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International Business Notes: Chapter 1 How is international business different? Currencies vary o More complex financial situation o Financial risks in exchange, trading and holding assets in other currencies Government/Laws o Opportunity to choose laws best fitting the business model o Conflicting government laws Different Accounting Systems o Laws dictating accounting rules differ Different Languages o Translations o Misinterpretation Different cultural perspectives o Truly difficult to understand Different Economic Systems o Most do not live in a stable capitalistic democracy Different geographies o Use natural resources to determine business environment Higher risk until diversified o Risks in multiple countries can be successful What is an International Business? Companies with operations in more than one nation Businesses selling products across national boarders Businesses relying on international suppliers
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Unformatted text preview: Businesses affected by international competitors What Isn’t International Business? Not much! Isolated Real Estate Non-transportable products Highly perishable goods Local services Why is International Business Important? World growth is dependent on it Survival World equalization World peace Views of the World: Multinational perspective o Make the world England o When a business takes its methods born in the U.S. to other countries with little modification Multidomestic perspective o Every country is different o When in Rome do as the Romans do o Businesses completely change their business practices, products and services to meet the needs of each market Global Perspective o Multinational and multidomestic perspectives combined o Finding the best answer to any issue anywhere in the world o...
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This note was uploaded on 04/09/2012 for the course GEB 3375 taught by Professor Sweo during the Spring '08 term at University of Central Florida.

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chapter 1 - Businesses affected by international...

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