Advantages of international business to firms and nation
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Answer:
Benefits of International Business
International Business is important to both Nation and Business organizations. It offers them various benefits.
Benefits to Nation
It encourages a nation to obtain foreign exchange that can be utilized to import merchandise from the global market.
It prompts specialization of a country in the production of merchandise which it creates in the best and affordable way.
Also, it helps a country in enhancing its development prospects and furthermore make opportunity for employment.
International business makes it comfortable for individuals to utilise commodities and services produced in other nations which help in improving their standard of life.
Benefits to Firms
It helps in improving profits of the organizations by selling products in the nations where costs are high.
It helps the organization in utilizing their surplus resources and increasing profitability of their activities.
Also, it helps firms in enhancing their development prospects.
International business also goes as one of the methods for accomplishing development in the firms confronting extreme market conditions in the local market.
And it enhances business vision as it makes firms more aggressive, and diversified..
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