International Business

Chapter 1: What Is International Business?

Chapter Summaries

• Business is any activity that seeks profit by providing goods or services to others. International business is any activity involving business operations across national borders.
• The historical origins of international commerce are found throughout the world and in most of recorded history.
• The major factors that influence international trade include social, cultural, political, legal, and economic factors.
• The levels of participation in international trade are the involvement of individual consumers, companies, states or provinces, and countries.
• Settings in which international business affects people include the local, state or provincial, national, and international.
• Culture, history, labor unions, and government regulations are all sources of issues that affect ethics in international business.