IBUS1101 Lecture Notes - Lecture 1: Austrade, International Business, United Nations Conference On Trade And Development
18 Jul 2018
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Note: globaledge (globaledge. msu. edu) helps keep with trends, indicators, news and statistics, unctad, bbc and austrade websites. International business: includes all value-adding activities including sourcing, manufacturing and marketing performed in international locations. International business refers to firms" performance of trade and investment activities across national borders. Because it emphasizes crossing national boundaries, we also refer to international business as cross-border business. International trade: exchange of products and services across national borders, typically through exporting and importing. This can involve products, raw materials, services capital, technology and labour. Exporting: sale of products or services to customers located abroad from a base in the home country or a third country. Importing / global sourcing: procurement of products or services from suppliers located abroad for consumption in the home country or a third country. Internationalisation: the tendency of companies to deepen their international business activities systematically. Firms internationalise through various entry strategies such as exporting and foreign direct investment including mergers and acquisitions.
