2. Meaning
International business refers to the trade of goods, services,
technology, capital and/or knowledge across national borders and at a
global or transnational scale. It involves cross-border transactions of
goods and services between two or more countries.
Basically it refers to the trade of goods, services, technology, capital
and/or knowledge across national borders and at a global or
transnational scale.
3. Example of Internationalization
• When McDonalds entered in India, they did an extensive research
before zeroing upon the menu on offer for the Indian consumers. The
entire menu was tailer made as per Indian consumer taste. The
company stuck to 40% Pure Vegetarian offering unlike any other
overseas market. McDonald’s also made sure to respect Indian
culture by not serving beef or pork recipes which on the other hand
were popular ingredients in other markets. McDonalds also made
sure to create recipes with Indian spices to match the local taste
4. Why a business want to go global?
1) First Mover Advantage
2) Opportunity for Growth
3) Small Local Markets
4) Increase for Customers
5) Discourage Local Competitors
9. Opportunities of Internationalization
1) Access to customers in a new countries
2) Learning about customers in new market
3) Government incentives to relocate
4) Access to new , cheaper source of finance