SEPT 2020 IB CH 1 - An Overview of International Business.pdf

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RECORDING !!1-1
1-2Chapter 1:An OverviewofInternationalBusinessInternational Business,Griffin & Pustay
1-3Chapter ObjectivesDiscuss themeaning of internationalbusinessExplain the importance ofunderstanding international businessIdentify and describe thebasic formsof international business activitiesDiscuss thecauses of globalization
1-4What is International Business?Business transactions between parties from more than one countryExamplesbuying materials in one country andshipping to another for furtherprocessing or assembly- shipping finished products from onecountry to another for retail sale-building a plant in a foreign countryto capitalize on lower labor costs- borrowing money from a bank in onecountry to finance operations inanother.
Who are the parties involved?May includei.Private individuals,ii.Individual companiesiii.Grps of companiesiv.Government agencies1-5
1-6How Does International BusinessDiffer from Domestic Business?Domestic Businessinvolves transactions occurringwithin the boundariesof a single countryInternational Business -transactionscross nationalboundariesOther Reasons:i.Currency Differences(to convert USD, RM etc.)ii.Legal systems Differ.(to comply to local law)iii.Cultural Differences(to adapt to local culture)iv.Availability of Resources Differ.

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Term
Spring
Professor
N/A
Tags
Globalization, Corporation

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