BA 3340 Lecture Notes - Lecture 1: Collective Bargaining, Statistical Process Control, Arbitrage
Document Summary
International business= consists of business transactions between parties from more than one country. Differences faced in international business and not in domestic business: Just-in-time (jit) systems= japanese firms pioneered this inventory management technique where suppliers are expected to deliver necessary inputs just as they are needed. Exporting= the selling of products made in one"s own country for use or resale in other countries. Importing= the buying of products made in other countries for use or resale in one"s own country. Merchandise exports and imports (visible trade)= trade in goods- tangible products such as clothing, computers, and raw materials. Service exports and imports (invisible trade)= trade in services- intangible products such as banking, travel, and accounting activities. International investments= capital supplied by residents of one country to residents of another. Foreign direct investments (fdi)= investments made for the purpose of actively controlling property, asses, or companies located in host countries.
