Essay about International Business

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Business cross among countries

Where there are humans, there will be differences, such so there will be business. Business has become an essential part of the modern world, whether directly or indirectly. Human beings are continuously involved in some activity or other in order to satisfy their unlimited wants and needs such as trading, exchanging and purchasing etc. In other words, business is equal to profits or interests. Yet, what are the things can be profitable, it is something that is new, unique, common usage, special, etc. All of these things are about to use multiple skills, to drag people’s attention and make people want them.
International Business conducts business transactions all over the world. These transactions include the transfer of goods, services, technology, managerial knowledge, and capital to other countries.(Akrani) In other words, International Business involves importing the products that local business does not have, exporting products that other foreign business does not have, or trading through different currencies and gain the profit.
Doing business internationally is not same as doing domestic business, it requires new skills and new knowledge about the country you are going to. Such as different business culture background, different time zone, different laws and regulations, and the difficulty of different languages, “use of different currencies are the key aspects that differentiate international businesses from domestic business. These, moreover, are the factors that make international business much more complex and a difficult activity.” (Differences Between Domestic and International Business) Domestic business pertains to a limited territory. Though the firm has many business establishments in different locations all the trading activities are inside a single boundary. (Chandra)
Communication skills are critical to international business success. Since the field involves trading among different countries, different country meaning different culture background, it is important to include research on the culture of the country that you intend to sell to prior to entering their market. Which on other hand, domestic trading would not have such problems on communication.
International business person have different duties than domestic business person, they have spend hours and hours flying through countries and spending enough time abroad in order to understand the foreign region’s market situation and cultural situation. To live and act in the present is important but also to look forward and understand where you and your department or business fit in the future is also crucial if you want to survive. Here are couple skills that international business person requires:
“The ability to deal with ambiguity and constant change”(Hasson), the global market is changing constantly, you have to deal with the changes constantly as well. “The ability to act in a diplomatic way and build lasting relations --- in the real and in the virtual world” (Hasson) You have to be a diplomat in order to navigate and operate in the formal and informal power structure of a global organization. The skill to act as a diplomat is crucial for success. What is more, since there is not enough money or time to arrange a meeting every once a week when doing business internationally, so it is important that you learn to work over the virtual world independently.
Also it is very important to have good reputation and trustworthy, otherwise, why would people trading with you when they can’t even trust you. One can afford to lose profits yet can not afford to lose trustworthy, once a businessman lose his trustworthy, no one would be trading with him whether locally or globally. Trustworthy is not something you can cheat or play with, it is gained through each business deal, spread by others rather than yourself.
What is more, observed one businesswoman during an interview (Xue) Mrs. Xue, president of
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