Question

Nature scope and importance of international business

Answer 1

Answer:

Nature of International Business

1. Accurate Information

2. Information not only accurate but should be timely

3. The size of the international business should be large

4. Market segmentation based on geographic segmentation

5. International markets have more potential than domestic markets

Scope of International Business

1. International Marketing

2. International Finance and Investments

3. Global HR

4. Foreign Exchange

Need for International Business

1. To achieve higher rate of profits

2. Expanding the production capacity beyond the demand of the domestic country

3. Severe competition in the home country

4. Limited home market

5. Political conditions