GENERAL 1
What is 1 factor of international business that was NOT listed in the slides
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How are devloping countries producing in recent years?
Production increased significantly since 2006
How does the digital world help businesses internationally?
Its a cost efficient way to do work internationally online.
Why is production in devloping countries increasing?
Because of the increase in demand and them having resources other countries dont.
Name 3 factors that were included on the slides
Supply and Demand, Cultural, Geographic conditions, Economic conditions
Why is etiquitte important when your in a foreign workplace?
Because certain things deemed normal for you may be weird or odd in a forgeign workplace
What is an international Business?
An International Business is a Business that operates across international borders
How can you non verbally communicate?
Through actions such as shaking hands, bowing or other culturally significant forms of physical contact.
Explain all the factors in an international business
Supply and Demand: One of the biggest challenges in a business is supply and demand. Battling the question of what your consumers want is vital in order to succeed as an international business person.
Cultural- Another challenge that isn't as big as supply and demand is the language barrier. This can affect effective communication between business partners, employees, and customers.
Geographic conditions- The physical location can affect the accessibility to markets and other things such as transportation costs, vicinity to suppliers, consumers, distribution centers, and more.
Economic conditions- The business environment and market prospects are affected by the general growth rate. Economies with rapid growth frequently offer ideal conditions for expansion and rising consumer demand.
Why did industrilaztion from first world countries fall?
Because they lack the resources to produce the demanded products.