MGMT 200 Chapter Notes - Chapter 9: Bhopal Disaster, Infant Formula, Human Resource Management
Document Summary
International business has grown in the past years due to foreign investment in land by developed countries. International markets are seen as an extension of the natural existing market; this is known as transitional economy. If a business is successful in a country, it must aim to expand worldwide and integrate into markets of other developed countries if it is to continue being successful and to remain competitive. Business is ethics is already hard within one culture. If we introduce another country, then this becomes even more difficult since managers should conform to different cultures norms and legal systems. The internationalization of business has different time periods: first stage is post wwii, the growth years, troubled years, new international order. Many businesses today have become internationalized but not globalized. Internationalization is thought of as the process by which firms increase their awareness and influence of international activities and conduct transactions with firms from other countries.
