Global Business: Definition and Key Concepts
What is Global Business?
Global business is the flow of goods, services, and investments between countries. It is conducted through the establishment and maintenance of business relationships between different countries. Global business is a powerful force that can influence a country's economy.
Key Concepts of Global Business
Here are some key concepts of global business:
- International Trade: This is trade that occurs between two or more countries.
- Globalization: This is the growth of relationships between countries around the world.
- Economic Integration: This is the growth of the flow of goods, services, and investments between countries.
Benefits of Global Business
Global business has many benefits, including:
- Economic Growth: Global business can help to increase productivity and promote economic growth.
- Job Creation: Global business can help to create new jobs.
- Competitiveness: Global business can help companies to become more competitive.
Drawbacks of Global Business
Global business also has some drawbacks, including:
- Economic Inequality: Global business can benefit developed countries more than developing countries.
- Environmental Impact: Global business can have a negative impact on the environment.
- Social Impact: Global business can have a negative impact on society.