INTERNATIONAL BUSINESS

INTERNATIONAL BUSINESSInternational Business:All business activities needed to create, ship, and sell goods and services across national boarders.International tradeForeign tradeImportance of GIT:Allows to purchase popular items made in other countriesEnjoy goods and services made in other countriesProvides a source of raw materials and parts and demand for foreign products.Allows for new market and investment opportunitiesHelp improve political relationsHistory of GIT:15,000 years ago China , India and Japan1500 to 1900 European Countries1769 and 1915 expanded interest in and opportunities for international business

Trade BarriersImport taxes increase the cost of foreign products.Quotas restrict the number of imports.Laws prevent certain products from coming in and out a countryInternational Business Environment Factors: 1. Geographic Conditions:Climate, terrain and seaways, natural resources, and agricultural products

2. Economic Conditions:Type of economic system , educational level, type of industries and technology 3. Political and Legal Factors:- Type of government, political stability, and government policies toward business

4. Cultural and Social Factors:- language, education, religion, values and customs and social relationships

International Business Skills:HistoryGeographyForeign LanguageCultural AwarenessStudy Skills