The Impact Of International Business On Business - 1307 Words

The impact of International Business International business, defined as commercial transactions that take place between two or more countries. International business grew over the last half of the twentieth century, partly because of liberalization of both trade and investment, and partly because doing business internationally had become easier. International business is different than domestic business, because of environmental changes a company faces when crossing international borders. A company normally has a better understanding of its domestic environment than with the environment in other countries. When a company enters a new country they must invest more time and resources into understanding the new environment. (Punnett, n.d.)†¦show more content†¦Companies using this strategy set themselves apart from the competition. An example of a company using this strategy is Starbucks. Their differences can be seen in the design of their coffee shops, the music they play and the products they sell, such as coff ee-brewing equipment and CDs. Starbuck also makes sure to keep the technology current, Starbucks was one of the first companies to implement location-based promotions and mobile payments. Going to Starbucks for a cup of coffee you will pay a premium price, however, due to the fact that Starbucks offers high quality products, people feel like they are getting a good deal. One of the main goals of a business is to gain advantage on their competition. One way to gain advantage is to conduct a value chain analysis, which studies what an organization can do in order to generate a competitive advantage, while providing the greatest value to their consumers. The analysis involves identifying each part of the chain and seeing where improvements can be made from a production standpoint or a cost perspective, to guarantee that consumers get the most bang for their buck. It can benefit a business in the long run, when consumers are getting the most out of a product for the cheapest cost value to consumers. â€Å"The value chain analysis looks at each of the activities in the value chain to determine what steps are necessary and which are not in an attempt to boost the company’s bottom line.† (Brooks,Show MoreRelatedThe Impact Of International Business On Business Environment Essay1633 Words   |  7 PagesIf the firms, which enter the international market, are ineffective at risk management, this is a risk in itself for Governments, as it can lead to economic inconsistencies. 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THE IMPACT OF GLOBALIZATION ON INTERNATIONAL BUSINESS. International business refers to a wide range of business activities undertaken across national borders. Along with rapidly increasing globalization, international business has become a popular topic and has drawn the attention of business executives, government officials and academics. International business is different from domestic business. At the international level, the globalization of the world economyRead MoreGlobalization and Its Impact on International Business Essay1558 Words   |  7 PagesGlobalization’s impacts on international business†¦..7 The road ahead for international business†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦9 Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 Reference†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Introduction Every day we hear it on the news, read it in the papers, overhear people talking about it†¦ and in every single instance the word globalization seems to have a different meaning. So, what is globalization? What are its main drivers? Why and how does globalization impact international business? 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