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INTERNATIONAL BUSINESS MANAGEMENT (IBM)

This video consists of the following:

1. Meaning and concept of Domestic Business:
The business transaction that occurs within the geographical limits of the country is known as domestic business. It is a business entity whose commercial activities are performed within a nation.
Alternately known as internal business or sometimes as home trade. The producer and customers of the firm both reside in the country. In a domestic trade, the buyer and seller belong to the same country and so the trade agreement is based on the practices, laws and customs that are followed in the country.
There are many privileges which a domestic business enjoys like low transaction cost, less period between production and sale of goods, low transportation cost, encourages small-scale enterprises, etc.

2. Meaning and concept of International business:
International Business is one whose manufacturing and trade occur beyond the borders of the home country. All the economic activities indulged in cross-border transactions comes under international or external business. It includes all the commercial activities like sales, investment, logistics, etc., in which two or more countries are involved.
The company conducting international business is known as a multinational or transnational company. These companies enjoy a large customer base from different countries, and it does not have to depend on a single country for resources. Further, the international business expands the trade and investment amongst countries.
However, there are several drawbacks which act as a barrier to entry in the international market like tariffs and quota, political, socio-cultural, economic and other factors that affect the international business.


3. Seven major differences between domestic business and international business in tabula form



Challenges in International business:    • INTERNATIONAL BUSINESS CHALLENGES IN ...  

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Reference books for International business management:

1. https://amzn.to/2qVD2ym - International Business Management by CB Gupta

2. https://amzn.to/2Hpxnea - International Business Management by N. Venkateswaran (Author)

3. https://amzn.to/2HoLgsV - International Business: Text and Cases by Cherunilam .F (Author)





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