DANCEST 805 Lecture 45:
Document Summary
Intro to business administration summary part 1. International business transactions cross national borders: economic, international business involves use of different currencies, in international business, the availability of resources differs per country, politic: international business involves differences in legal system, culture: international business involves different cultures. Why study international business: almost any large organization you work for will have international operations or be affected by the global economy. Under jit, suppliers are expected to deliver necessary inputs just as they are needed: you need to study international business to obtain cultural literacy. The term mno can be used when one wants to refer to both not-for-profit and profit-seeking organization. Globalization is the inexorable integration of markets, nation-states, and technologies in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper, and cheaper than ever before. The contemporary causes of globalization caused the growth of international business.
