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417-IB-lecture1-2014-note-bw - 17/1/2014 Chapter Objectives...

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17/1/20141Chapter 1An Overview of International Business1-2Chapter ObjectivesDiscuss the meaning of international businessExplain the importance of understanding international businessIdentify and describe the basic forms of international business activitiesDiscuss the topic of globalizationComprehend the growing role of emerging markets in the global economy1-3What Is International Business?Business transactions between parties from more than one countryParties may include–Private individuals–Companies–Governmental agencies1-4The Business of the OlympicsIntense reflection of international business–International spotlight, promote economic growth and improve a city's infrastructureTourism benefitsRevenue sources for the Olympics–Broadcast rights–Corporate sponsorships1-5How Does International BusinessDiffer from Domestic Business?Use various currenciesFace various legal systemsAdjust to various cultures of the countriesSource various availability of resources–E.g. natural and labor resources1-6Why Study International Business?barb2rightInterviewsWork in large organizations Use foreign-made materials or equipmentCut costsIdentify and keep pace with competitorsObtain cultural literacy –E.g. political and cultural differences
17/1/201421-7International Business ActivitiesExporting and ImportingInternational InvestmentsLicensing, Franchising, and Management Contracts1-8Exporting and ImportingExporting: selling of products made in one's own country for use or resale in other countries

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