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Summary International Business
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Summary of the English book 'International Business' Radha Jethu-Ramsoedh from 2016, 2nd edition. Summary chapter covers 1/7 m from the book.
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International Business Communicatie, leerjaar 1 ACRLSummary International Business
C1, Introduction to international business
1.1 What is international business?
International business: Marketing and selling products abroad, the development of international
commerce or the actions needed to do business across borders.
Multinationals: Foreign companies that operate worldwide.
Low-wage countries: Countries were the minimum loan is very low.
1.1.1 Globalization
Globalization: Goods, services, capital, knowledge, and labour crossing borders.
Two factors play an important role in globalisation:
1. Opening of borders
2. Advent of the internet (and other communication technologies)
Advantages Disadvantages
Economic growth and welfare Developed countries: wages decrease, people
lose their jobs
Spread of technologies, knowledge, products, Less developed countries: increase in
services exploitation (e.g. low wages, no insurances)
Cultural integration Multinationals got a lot of power
Ecological problems (climate change)
BRICS countries: Countries that play an increasingly important role in globalization. Brazil, Russia,
India, China and South Africa.
N11 countries: Bangladesh, Egypt, The Philippines, Indonesia, Iran, Mexico, Nigeria, Pakistan, Turkey,
Vietnam and South Korea.
GDP - Gross Domestic Product: Value of all final products and services produced in a period
(geographical location).
- Goal: Measure the product generated in a country
- Example: Everything that is produced in India, no matter if foreigners have contributed
GNP - Gross National Product: Value of all products and services produced in one year by labour and
property supplied by the citizens of a country (ownership).
- Goal: Measure the product generated by citizens of a country
- Example: Everything that is produced by Indian nationals, inside or outside the country
1.1.2 Europe and globalisation
Three dimensions (following the KOF Index of Globalization)
1. Economic
1
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