Question

Question 4 Explain the relation, similarity, and difference between "international business" and "global business." TTT Arial 3 (121) T.E.E.B.225

Answer 1

In the international business firms are engaged in cross border (international) activities of an economy. In the global business the firms are engaged in business around the globe. The international relations focus on how people, nations and companies interact and globalization ensures a profound impact on International relations. Globalization is a driven process by the International Investment and Trade and aided with the Information technology

Both the globalization and international relations constantly have altered culture negatively as well as positively. The global companies have branches, offices and investments in other nations while international companies import the products of the nation and export their products with which they have international relations in trade however does not hold investments in each other’s economies

“Global” refers to the concerns and issues of the entire world and on contrary the “international” refer to concerns and issues of two or more nations. The “global” has a wider scope as the whole world is included; while “International” has a smaller scope as it includes two or more nations.