International business houses need accurate information to make an appropriate decision.

INTERNATIONAL BUSINESSUNIT-1INTRODUCTION TO INTERNATIONAL BUSINESSINTRODUCTIONThe world is fast becoming a global village where there are no boundaries to stop free trade andcommunication. Keeping pace with it, the way we do business has changed in an unprecedentedmanner. The competition, in the global marketplace, is at its peak where all companies want tosell their goods to everyone, everywhere on the globe.DEFINITIONAccording to International Business Journal, “International business is a commercial enterprisethat performs economic activity beyond the bounds of its location, has branches in two or moreforeign countries and makes use of economic, cultural, political, legal and other differencesbetween `countries.”MEANINGAny business that involves operations in more than one country can be called an internationalbusiness. International Business conducts business transactions all over the world. Thesetransactions include the transfer of goods, services, technology, managerial knowledge, andcapital to other countries.International Business is also known, called or referred as a Global Business or an InternationalMarketing.Thus, international business is the process of focusing on the resources of the globe andobjectives of the organisation on global business opportunities and threats.EVOLUTION OF INTERNATIONAL BUSINESSThe business across the borders of the countries had been carried on since times immemorial.But the business had been limited to the international trade until the recent past. The past-world war II period witnessed an unexpected expansion of the national companies intointernational or multi-national companies. The post 1990s period has given great fillip tointernational businessIn fact, the term international business was not in existence before two decades. The terminternational business has emerged from the term ‘international marketing’, which in turn,emerged from the term export marketing.INTERNATIONAL TRADE TO INTERNATIONAL MARKETINGOriginally, the producers used to export their products to the nearby countries and graduallyextended the exports to far off countries. Gradually, the companies extended the operationsbeyond trade

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