International Business is only about selling your goods and services globally or is there more to it than this?
Well first let’s have look at a definition of international business, international business is a term used to illustrate all commercial transactions that cross a national boundary at private, public or government level. International business can be categorised into four sectors – foreign trade, trade in services, portfolio investments and direct investments.
Foreign trade includes importing and exporting tangible goods such as physical products, trade in services is about providing intangible services such as insurance etc. portfolio investments are financial investments that only consider exchanging monetary value and nothing else, whereas direct investment involves giving control in invested firms. Thus. when you are trading internationally you have to think beyond just importing and exporting goods and services as there are many other aspects that are involved in making your business successful.
Are you thinking of expanding internationally and interested in undertaking business activities in Europe? To be successful, you have make yourself aware of different legal systems, business culture, import& export regulations, and environmental standards. When doing business in Europe your operations affect and also are affected by all of the factors mentioned above creating a competitive environment for you to negotiate in. The European Business Schools are working closely with their students to enhance their international business skills. International business is becoming a standard subject in European Business School curricula.