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Submitted by charaehatwood on April 20, 2008
Category: Business
Words: 1675 | Pages: 7
Views: 139
Popularity Rank: 70,775
Average Member Grade: N/A (Add a Comment / Grade this Paper)
INTERNATIONAL BUSINESS
International Business is a term used to collectively describe topics relating to the operations of firms with interests in several countries. International trade occurs because no single country has the resources to produce everything well. Nations specialize in the production of certain goods and trade with other nations for those they do not produce. More and more companies are recognizing that pursuing opportunities in the global marketplace is the key to their present and future success. There are many advantages of going global such as, new markets, new sources of capital abroad, swifter technological advancement, and more choices for consumers, just to name a few. One of the results on the increasing success of international business ventures is Globalization. Globalization can be described as an increased connectivity among societies and their elements due to the explosive evolution of transport and communication technologies to facilitate international cultural and economic exchange. There are several countries that participate in international trade, as well as several forms of international business activities.
Any company can become involved in world trade through a range of activities. Many companies first expand into international trade through importing and exporting. Importing is buying goods or services from a supplier in another country. Exporting is selling products outside the country in which they are produced. At any given time, a country may be importing more of one type of product and exporting more of another. The relationship between the value of a country’s imports and the value of its exports determines its balance of trade. The level of a country’s imports and exports forms an important part of international business economics. When a country exports more goods than it imports, its balance of trade is favorable, creating a trade surplus. However, when a...
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