Vol. 2, Issue 6 (2017)
Role of environment in International business
Author(s): Dr. Rashmi Gujrati
Abstract: International business is an extremely applicable facet of the modern economy, and will only become more combined into core business strategy as technology remains to progress. International business is simply the summary of all commercial dealings that take place between various countries (crossing political boundaries) From a business viewpoint, the primary obligatory in an international business environment is the multinational enterprise (MNE), which is a company that follows strategic success in global manufacture and sales (i.e. operating within a number of country borders). The number of examples of this type of firm is constantly growing. From fast food chains like McDonald’s to auto manufacturers like Honda to smartphone designers like Samsung, the number of international players in most markets is continually on the rise. International bosses face intense and constant challenges that require training and understanding of the foreign environment. Managing a business in a foreign country requires managers to contract with a large diversity of cultural and environmental differences. As a result, international managers must continually monitor the physical, demographic political, legal, sociocultural, economic, and technological environments.