includes all business activities needed to create, ship and sell goods and services across national...
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INTERNATIONAL BUSINESS CHAPTER 1
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Definition:
Includes all business activities needed to create, ship and sell goods and services across national borders.
AKA Global Business International Trade Foreign Trade
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Why So Important?
1. Allows you to purchase popular items made in other countries.
2. Provides the following for foreign products:
Raw Materials Parts Demand
3. Allows for new market and investment opps4. Can help improve political relations
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Materials, Parts, Demand
Global Dependency: Exists when items
that consumers need and want are created in other countries.
ie: If Zimbabwe had little rain and crops failed and farm animals died they would have to import most of its food from other countries
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Global Opportunities
Business both large and small can increase sales and profits
People can invest in businesses to earn for themselves
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Improved Political Relations
“Countries that trade with each other are less likely to go to war with each other.”
Improves mutual understanding, communication and the level of respect among people of different nations. Why? Agree/Disagree Create a scenariowith you and a neighbordefending this argument
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Fundamentals
Imports Products bought from businesses in other
countries
Exports Products sold in other countries
Trade Barriers Restrictions that reduce free trade among
countries
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Types of Barriers
Taxation Dumping
Quotas Laws
Embargos Sanctions
Non-Tariff Barriers Steering Wheels Made in America
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IB Environment Factors
Geographic Conditions Climate, terrain, seaports, natural resources
Cultural and Social Factors Customs, behaviors, values
Political and Legal Factors Type, stability and policies of Government
Economic Conditions Economic System Natural Resources Education Technology
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IB Skills
History Geography Foreign Language Cultural Awareness Study Skills