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Global Econ and Enterprise Management

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Domestic business is any transaction that has to deal with the commercial activities conducted within a single nation. The economic transactions that are made by a domestic business within the borders of its nation typically have the advantage of only having to deal with the local currency, such as the dollar for the United States. It also has the advantage of dealing with the local customs, religions, government, culture, tax system and regulations. Domestic business is usually where your stronger customer base lies so it might be useful to direct most of your focus at first. It is much easier to establish good domestic business interaction when you are interacting with like people. Once it is decided your nation’s domestic business is in good standing, then you can focus more on international business being done with other countries. I believe it is very important to have a separate course on how to deal with international business because it is so much more complex than dealing with transactions taking place within one single nation. With international business, one has to learn how to manage transactions taking place in places with different currencies, customs, religions, government types, cultures, tax systems, regulations and even tastes. For example, the drink Coca-Cola tastes different in every country you go to because the taste preference of people in those countries is different. It can be difficult negotiating with two or more countries that have different government types, such as a democracy and a dictatorship, because political views are completely different. It is imperative to have a very good understanding of how to go about making something important happen without upsetting any one country in the long run. If only one single course were offered to learn about the domestic business world, we would not get all the information we need to be

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