Chapter 2: Globalization of markets and the internationalization of the firm
Globalization: the interconnectedness of national economies and the growing
interdependence of buyers, producers, suppliers, and governments, around
Chapter #1: whats international business?
International business: Performance of trade and investment activities by firms across national borders.
Globalization of markets: Ongoing economic integration and growing interdependency of
Chapter 3: organizational participants that make international business happen
PARTICIPANTS IN IB
4 major participants in international business
1. Focal firm- initiator of an international business transaction; e.g., MNEs and