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Key Developent

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INTERNATIONAL BUSINESS MANAGEMENT

TUTOR NAME: KATE TRUE STUDENT NAME:

Which have been the key developments in your area of study in the last 20/30 years and which developments do you think there will be in the future?

The management of business operations for an organization that conduct the business in more than one country. International Business is all commercial transactions private and government between two or more countries. Private companies undertake such transactions for profits; governments may or may not do the same in their transactions. These transactions include sales, investments and transportation. International business becomes important because it comprise a large and growing portion of the world’s total business. All companies are affected by global events and competition, whether large or small, since most sell output to and secure raw materials and supplies from foreign countries. International business is similar to the national business in many ways, but there are significant differences that must be taken into account for the successful implementation of international strategies.
The main problem is to overcome differences in national cultures, which manifest themselves quite often. International business operates in countries with different cultures, so the same formal parameters of starting a new business (the amount of capital raised, number of employees, production assets, performance incentives, etc.) can be implemented, when used in different cultural environments, and lead to different results. International businesses face some serious challenges – issues and solutions about what products (services) should be attractive for various foreign markets, possible problems with the transfer of currency, the uncertainties associated with predicting the costs and profitability, creating significant

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