Why is international business different from domestic business?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Why is international business different from domestic business?
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When seeking growth, most domestic companies will explore outside their current geographic region. Typically, this entails exploring possibilities in overseas markets. For a variety of reasons, it is considered that managing and maintaining a local firm is less complicated than conducting foreign commerce. Nation-states usually have their own laws controlling trade and capital, as well as differences in corporate ethics and culture, as well as diverse political systems, monetary policies, and currencies. And these are all potential variables that might make foreign business more difficult, and hence volatile, than domestic company.
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