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We Live in a Global Economy

1. CHAPTER. We Live in a Global Economy. 1-1 The Foundation of International Business 1-2 International Business Basics. GOALS. Distinguish between domestic business and international business. Discuss the reasons why international business is important.

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We Live in a Global Economy

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  1. 1 CHAPTER We Live in a Global Economy 1-1 The Foundation of International Business 1-2 International Business Basics

  2. GOALS Distinguish between domestic business and international business. Discuss the reasons why international business is important. Understand that international trade is not just a recent event. 1 LESSON 1-1The Foundation of International Business

  3. 1 What Is International Business? • All business activities needed to create, ship, and sell goods and services across national borders • Also called • Global business • International trade • Foreign trade

  4. 1 Why Is International Business Important? • Materials, parts, and demand • Global opportunities • Improved political relations

  5. 1 When Did International Business Start? • China, India, and Japan 15,000 years ago • Africa and South America thousands of years ago • Eleventh century • Fifteenth and sixteenth centuries • Colonization

  6. 1 Selected Countries and Their Colonial Heritage Continued on next slide

  7. 1 Selected Countries and Their Colonial Heritage Continued from previous slide

  8. GOALS Describe basic inter-national business activities. Explain the components of the international business environment. Name important skills for international business and describe the importance of international business for workers, consumers, and citizens. 1 LESSON 1-2International Business Basics

  9. 1 The Fundamentals of International Trade • Imports • Exports • Trade barriers

  10. 1 The International Business Environment • Geographic conditions • Cultural and social factors • Political and legal factors • Economic conditions

  11. 1 The International Business Environment • GEOGRAPHIC CONDITIONS • Climate • Terrain and seaways • Natural resources • Agriculture products • CULTURAL & SOCIAL FACTORS • Language • Education • Religion • Values and customs • Social relationships • POLITICAL & LEGAL FACTORS • Type of government • Political stability • Government policies toward business • ECONOMIC CONDITIONS • Type of economic system • Education level • Type of industries • Technology

  12. 1 The Global Business World • International business skills • History • Geography • Foreign language • Cultural awareness • Study skills • The global citizen

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