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Process Of International Business

   

Added on  2020-01-23

4 Pages781 Words61 Views
INTERNATIONAL BUSINESS1

International business is a process under which company is engaged with the internationalmarket. In other word it can be said that, international business conducts business transactions allover the world. Under this transaction, company transfers of goods, services, technology,managerial knowledge and capital to other countries. (Clark and et.al., 2016) This process involvesexports and imports. In the simple term it can be said that the exchange of goods and servicesamong the businesses in the multiple countries is known as the international business.International business is also known as the global business or an international marketing. This typeof businesses includes various options of doing such as exporting goods and services, giving licenceto produce goods in the host country, starting a joint venture with a corporation etc (Demangeot,Broderick and Craig, 2015). In addition to this, by this business, company can acquire a largenumber of customer because it exp[and its existing business operation in the new market. Further,the major advantage of this type of business is that corporation can gain the opportunity to use thefast and smart technology of another country.The organisation who are dealing in the international business then it will beneficial to rapidindustrial development. They can get foreign capital and technology and also get employmentopportunity. Following are some characteristics of international business-Payment in foreign currency- In the international business, organisation have to use theforeign currency in order to sell or purchase the goods and services to internationalcustomers and suppliers (Kaynak and Kucukemiroglu, 2015).Application of international law- In the international business, corporation have to followall rules, regulation and code of conduct which has formulated by the foreign government.Company have to follow business law, employment law, customer law which has developedthe foreign government.Large numbers of middleman- In the international business, there are large numbers ofmiddleman available in the foreign market. Company have to select effective distributor soas it can effectively deliver goods and services to customers.Competition- In the international business, company have to face the high level ofcompetition because in the different countries there have various competitors are available.According to the available competitors in the market, company have to develop strategy andtactics.As per the above discussion it has been ascertained that there are various features and importance ofinternational business. Company may beneficial in the foreign market and can gain the opportunity2

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