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International Biz

International Business Rennes SB

QuestionAnswer
Define International Business (IB) and identify the three major operating objectives companies pursue. IB is any commercial transaction crossing borders of two or more nations.
1st Objective of IB: Sales Expansion: Access more consumers globally; spread fixed costs; increase profits.
2nd Objective of IB: Resource Acquisition: Obtain cheaper, better, or new resources and knowledge from foreign countries.
3rd Objective of IB: Risk Reduction: Disperse operations across countries to reduce operational risks.
Define the three predominant types of economic systems #1 Market Economy: Resources allocated by consumer choice; minimal government (capitalism, laissez-faire)
Define the three predominant types of economic systems #2 Command Economy: Centralized government control; planning and collectivism
Define the three predominant types of economic systems #3 Mixed Economy: Blend of market and command systems; balances private/public ownership; regulates capitalism
Created by: user-2008976
 

 



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