About This Chapter
Marketing & International Business - Chapter Summary
Explore the international business environment in this chapter, which takes you through recent global business developments and teaches you about the different factors that influence the global business environment. Subject experts will familiarize you with international trade restrictions, trade gains and trade protectionism. You'll get an in-depth look at the foreign currency exchange, a variety of international banking organizations and the importance of foreign direct investment. At the end of this chapter, you'll know about:
- International business trends
- Cultural, political and social factors that play a role in international business
- Importance of cultural differences and communication styles in global business interactions
- Examples of absolute advantage in trade
- Expansion methods in a global business environment
- Human resource issues
- Ethical concerns associated with global business
Understand the essentials of international trade by watching quick videos that feature dynamic graphics and animations to make learning easy and fun. You can watch all the lessons in this chapter from start to finish or pick out just the lessons that you're interested in. If you get stuck on a concept, use the video tags to go back and review just that topic or ask one of our professional instructors a question. Assess your grasp of the subject matter with self-assessment quizzes and take the chapter exam to make sure you're on the right track.
1. Major Trends & Developments in International Business
Entire courses - even entire college degrees - exist to teach people the complexities of international business. While this lesson is just an introduction, it will discuss important trends that are shaping the world's economy.
2. How The Global Business Environment Affects Business: Explanation & Examples
The world is becoming smaller. As globalization continues, businesses will be presented with opportunities and face challenges. In this lesson, you'll learn about some of these challenges and see how businesses can meet them.
3. International Trade Regulations & Restrictions
Importing and exporting are vital elements to a healthy U.S. economy. Businesses should be familiar with international laws regarding trade. This lesson defines imports and exports and discusses international trade regulations and restrictions.
4. International Trade Organizations and Trade Agreements
International trade organizations and trade agreements have enormous power in the global trade environment. In this lesson, you will learn about the roles of the GATT, NAFTA, and the World Trade Organization.
5. Absolute Advantage in Trade: Definition and Examples
In this lesson, you'll learn what absolute advantage is and how to easily identify it within examples of international trade. In addition, you'll learn the important difference between absolute advantage and comparative advantage.
6. Gains From Trade and the Benefit of Specialization
Explore one of the most widely accepted ideas in economics - the idea that nations benefit from specialization and exchange, reaping gains from trade.
7. Advantages and Disadvantages of Trade Protectionism
Countries want to win the game of international trade by exporting more than they import. Some countries pursue trade protectionism to do this. In this lesson, you'll learn about the advantages and disadvantages of this strategy and related concepts.
8. Foreign Currency Exchange: Supply and Demand for Currency
In this lesson, you'll learn why money from different countries has different values of exchange. We'll cover the supply and demand for currencies and how changes in supply and demand can affect the exchange rates between currencies.
9. The World Bank, IMF & Other International Banking Organizations
International banking and financial organizations exist to encourage economic and financial stability, help facilitate trade, and help with economic development. In this lesson, you'll learn about some of these important organizations.
10. International Business Expansion Methods
Oftentimes, the best opportunities for a business are not at home but abroad. In this lesson, you'll learn about different methods of taking advantage of the international market. You'll also have a chance to take a short quiz after the lesson.
11. What Is Foreign Direct Investment? - Definition, Advantages & Disadvantages
Foreign direct investment has been a controversial issue in international economics. In this lesson, you'll learn about it, including some of its advantages and disadvantages. A short quiz follows the lesson.
12. Human Resource Issues in International Business
From a business perspective, national boarders are disappearing, giving way to free trade agreements and open economies. In this lesson, we'll talk about how that presents new opportunities and challenges for human resource managers.
13. Ethical Issues in International Business
Corporations that tackle the global market face many difficulties. In this lesson, we will examine the ethical issues in international business, such as corruption, pollution, and environmental challenges.
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Other chapters within the NYSTCE Business and Marketing (063): Practice and Study Guide course
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- Motivation in Business Management
- Human Resource Management & Development
- Business Ownership
- Laws Related to Business Ownership
- Labor-Management Relations
- Business Law Basics
- Ethics in Business Today
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- Marketing Strategies in Business
- Accounting Fundamentals
- Accounting & Financial Management
- Business Technology & Information Systems
- Business & Marketing Communications
- Principles of Economics
- Consumer Economics & Personal Finance
- Career & Professional Development in Business
- NYSTCE Business and Marketing Flashcards