Summary study book International business of Radha Jethu-Ramsoedh, Maud Hendrickx - ISBN: 9789001805036, Edition: 1, Year of publication: 2011 (Finished with an 8)
Summary Chapter 1
International business is a broad definition because it isn’t only marketing and selling goods and
services abroad. It is related to development of international commerce or the actions that are
necessary to do business on an international level.
To do business with foreign partners is easier than a couple of years ago because easier, cheaper and
we are connected worldwide. The companies outsource they activities to low-wage countries to
increase their productivity or reduce their labor cost and they share knowledge with other
companies to obtain a stronger competitive position, or the work with other to realis economies of
scale.
Since the abolition of frontiers, people travel more. Some reasons are political systems, economies
and cultures influence each other.
Globalization is working together with companies/partners abroad about business, service,
knowledge and work.
GNP = Gross National Product
BRIC countries = Brazil, Russia, India and China
Advantages of globalization:
- It contributes to higher economic growth and welfare
- It spreads technological knowledge
- It leads to widespread cultural integration
Disadvantages of globalization:
- There is a greater chance that wages in developed countries will be undermined
- There is an increase in the exploitation of workers in less developed countries
- It gives multinationals a great deal of power
Sustainable = duurzaam
Stakeholders = a group or individual who influences or is influenced by an organization or company
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