In a world where change is the only constant, to keep pace with it
is tough at times. There are two particular situations to it as described
further. At first, if a company is well established with available funds,
resources, and infrastructure, then it makes all the sense to understand International
business. When it is focusing on growth beyond domestic boundaries, the
opportunity is huge. However, as the Hollywood movie Spiderman rightly mentions ‘with great power comes great
responsibility’ is completely applicable here too. While increasing the
profitability and revenue, there is a long list of checklist necessary to be at
right place in right time. To set an objective in order to recognise why it
wants to go global is foremost to decide upon. Additionally, there are various differences
that will arise such as cross cultural issues and international trade terms.
Furthermore, the company needs to check on country risk analysis, international
marketing, supply chain management, and entry/expansion strategy i.e. joint
venture, merger and acquisition, strategic alliance, export, or franchising.
Hence, it is highly important to have a deep learning of International
On the other hand, a start-up with a great business plan but limited
resources and infrastructure may initially try to establish presence in the
market. A good plan can help a star-up to know how long will it take to build a
brand and what are it’s timelines to go global. Accordingly it may start
preparation in advance. In addition, to keep up with the current trends around
the world, it can keep looking at the advances in the International businesses.
To conclude, it is immensely important as a student to learn about International
business because if he/she is working in a company where they handle
International expansion or if a person wants to be an entrepreneur, though he
will need the skills to manage business in foreign. Finally as Steve jobs said,
can’t connect the dots looking forward; you can only connect them
looking backwards “.