Business Essay: The Rise Of International Business

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The Rise of International Business No nation in the world is self-sufficient. Each involved at different levels of international business by selling what they produce, or acquiring what they lack. In the global world, the mutual dependencies between countries are called global interdependency. International business, importing - exporting goods, and international investments highly contribute to global interdependency. In recent years, the mutual dependencies between countries have shifted with the increase in global business. The explosion in international investment levels is attributed to many variables. Among these, the most important ones are developments in technology, developments in transportation, global competition, financial liberalization, freer borders, and business confidence. Technology: technological advancements affect our lives in different ways. From the international business perspective, the most notable advancement is telecommunication. In 1960’s transatlantic telephone lines could handle online 80 calls a day. Today, satellite and other telecommunications infrastructure handle millions of calls every day. Communication is crucial in the way of creating a successful international business to keep investor or the core company connected with an investment or FDI abroad. Online tools, e-mail, and conference calls save a good deal of time for executives to handle the business transactions in foreign investments. To illustrate, contracts can be sent and signed via email, or fax. Moreover, meetings can be held through videoconferencing, rallying people from all around the world in just a few minutes. The ability to instantaneously communicate with a manager overseas, allows businesses to expand internationally wi... ... middle of paper ... ...in technology and transportation provided companies with the confidence of investing across the borders. The Internet is a widely used tool in international business transactions. Information security technologies maintain the confidentiality of business transactions and information between the companies from different countries. Transportation guarantees timely and safe deliveries. Also, the liberalization of the world, and execution of capitalist economic policies around the world, attracts investors to invest across the borders without worrying about political disasters. International trade has become less risky, and less time consuming with the usage of postal services, banks, and insurance companies. The international trade agreements and organizations such as the WTO, has set up particular standards to protect, stimulate, and encourage international business.

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