International Business is just a fancy way of talking about the commercial transactions taking place between nations. But this does not mean that only the governments can do international business. In fact, private companies indulge in it more regularly and come out with unimaginable profit. The governments doing international business have more political and dark reasons for doing so, although profit comes with it as well.
Companies indulging in this type of overseas business are referred to as Multi National Companies. These aren't just limited to one field but each field has its own MNC. Take a look at McDonalds, its found in a staggering 119 countries, its signature yellow M on red is understood worldwide, regardless of the language one converses in. also the operating income generate yearly is an eye opening $3.9 billion! Another example is the sports giant Nike. Expanded into a surprising 46 countries, Nike earns yearly revenue of $18.6 billion! Other examples include the renowned car manufacturers of Toyota and the brilliantly masterminded Microsoft Corporation.
People studying business are no doubt very learned. They have to study the differences in legal systems present worldwide in order to negotiate the affairs of their companies properly. A very detailed and thorough study of import and export regulations is also necessary if they want to remain top notch in their field. Political systems and economic policies, which are often a hindrance to the Multi National Company's success, are also areas of study within this vast subject.
The recent increase in globalization has caused an increase in the need for such MNC's that can handle international business are transactions single handedly. The governments have been removing international business restrictions and this allows the generation of greater profits, especially as the technology employed in transport and communication is expanding day by day. Considering the fact that the political relationships between the major economic powers are no longer bleak and that rising transnational issues have created a window of opportunity of immense expansion and profit, the MNC's are making their international business ties stronger and stronger day by day. We must study international business as understanding it can help us in making better career decisions.