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International Business

International Business. All business transactions necessary for creating, shipping and selling goods and services across national borders Also referred to as international trade or foreign trade. Definition. Domestic transaction Selling of items produced in same country

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International Business

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  1. International Business

  2. All business transactions necessary for creating, shipping and selling goods and services across national borders • Also referred to as international trade or foreign trade Definition

  3. Domestic transaction • Selling of items produced in same country • International transaction • Selling of items produced in other countries • Participating in an international transaction means you are contributing to the global economy Types of transactions

  4. Access to markets • Cheaper labour • Increased quality of goods • Increased quantity • Access to resources Benefits for Business

  5. Product • Price • Proximity • Preference • Promotion Five Ps of International Business

  6. Social costs • Offshore outsourcing • Human rights • Environmental degradation Costs of International Trade

  7. Hiring service providers from countries where labour costs are lower to complete some or all of the steps in the production process • Also called contracting out Offshore outsourcing

  8. Can include labour exploitation (including physical or sexual abuse, force confinement, non-payment of wages, denial of food and health care, excessing working hours with no rest) • Child labour Human rights issues and labour abuses

  9. Occurs when nature’s resources (trees, habitat, earth, water, air) are being consumed faster than nature can replenish them Environmental Degradation

  10. Process of developing land, cities, businesses and communities that meets the needs of the present without compromising the ability of future generations Sustainable development

  11. Tariffs • Non-tariff barriers • Costs of importing and exporting • Excise taxes • Currency fluctuations Barriers to International Business

  12. NAFTA • WTO • G8 • APEC • And others Trade Agreements

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