The document discusses various aspects of global business and international companies. It defines terms like multinational, global, international and transnational companies. It also discusses the forces driving globalization like political, technological, market, cost and competitive forces. As a result of this rush for globalization, international business has seen explosive growth with the world stock of foreign direct investment increasing eleven-fold from 1980 to 2000. International business faces a different environment than domestic business due to various uncontrollable external forces.