Summary MEANING OF INTERNATIONAL BUSINESS AND ITS EVOLUTION.
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Course
INT4801 - International Business (INT4801)
Institution
University Of South Africa (Unisa)
Book
The Laws of Globalization and Business Applications
This is the foundation for every student who need to study international business at honors level. it is fused with theories, definitions of international business together with current examples that are affecting business in today`s world such as Huawei, Nokia, Ford among others.
Compiled by Tello Richard Emai:muzavazi47@gmail.com Call/WhatsApp +27717513144
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, Compiled by Tello Richard Emai:muzavazi47@gmail.com Call/WhatsApp +27717513144
Definition of International Business.
International Business (IB) is a new phenomenon that has been brought to the fore by
changes in global activities.
These changes have brought new opportunities as well as challenges to socio-
economic environment in the business world.
International Business has been researched and defined in many ways by different
authors and we shall look in some of these definitions.
The acceleration of cross-border flow of products, services, capital, ideas, technology
and people across the globe according to Knight (2014).
In other definition, Luo and Shenkar (2008), argues that International Business is not
ethnocentric as postulated by other authors.
Ghemawat (2008) in his journal illustrated that, international business is today`s trade/
economic blood.
Guillen (2015) also argues that, international business as economic activities that take
place across the boundaries of nations.
All the above definitions have been used by many academicians as they suit different
aspects of the business world.
Therefore, academicians may use any of the above definitions and be able to explain
giving practical examples.
Change factors in International Business.
International business has been pushed by a lot of factors.
These factors are different in nature, ie some are economic, political, legal among
others.
Let us look into some of these factors.
i. Global climate change.
As of late, global climate change has been an agenda in many business summits.
Companies are being pushed from nation to nation due to stringent policies being
implemented by authorities as a way of reducing climate and environment damage.
This has come in form of higher omission penalties such as higher taxes, certain
environmental rules and regulations.
Some of these policies include;
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