How does international business differ from domestic business?
Answers
Explanation:
ceo made a lot of mistakes such as committing errors in assessing the market and competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significant performance declines. According to the text, this example illustrates the __________ perspective of leadership.
Answer:
Domestic Business
Meaning: Domestic Business refers to business transactions within the geographical boundaries of a country.
Participants in Business: People/ organisations within the country can participate in business activities.
Scope of Market: The scope of market is limited to national boundaries of a country.
Currency used: Currency of domestic country is used.
Mode of Transport: Goods are transported by roadways or railways.
Nature of Consumer: Consumers are relatively homogenous in nature.
International Business
Meaning: International Business refers to business transactions beyond the geographical boundaries of a country.
Participants in Business: People/ organisations outside the country can participate in business activities.
Scope of Market: The scope of market is very wide and extends beyond the boundaries of a country.
Currency used: Currencies of foreign countries are used.
Mode of Transport: Goods are transported by airways or waterways.
Nature of Consumer: Consumers are relatively heterogeneous in nature.