Business Concepts, Theories And Strategies Used Internationally

1910 Words8 Pages
Mary Powell 28 June 2016 INB 300 Final Summary Throughout the semester I have come to learn about many important business concepts, theories and strategies used internationally. As a business management major and with an interest in minoring in international business, I took this class with an open mind and an intention to learn. Between learning about the global marketplace, different strategies, when to enter a foreign market and much more, I now have a better understanding of what International business actually means. Over the years the world has come to understand and witness the globalization of markets and production. Markets are merging with one another and making up the global marketplace. Many factors drive globalization. For…show more content…
For example, in 1960 the U.S. made up 40% of the world economic activity, today the U.S accounts for 24% of it. Though there are some issues that arise within the global marketplace, I believe that they are issues that could be worked through in the future. There are many variations between the political, economic, and legal systems. First, the political systems can be divided into two categories: the extent in which they stress collectivism as opposed to individualism, and the degree to which they are democratic or totalitarian. Collectivism is the idea that the society’s needs our more important than an individual 's. Individualism means that an individual should have the freedom to his/her own economic and political realms. When talking about democracy and totalitarianism, they are polar opposites. A democracy is a political system, which is governed by the people, and exercised directly or through elected representatives. On the other hand, totalitarianism, which has four major forms, including, communist, theocratic, tribal, and right-wing, is a form of government in which one person or political party exercises complete control over the people. Next, economic systems, which means that countries and governments distribute resources and trade goods and services. The economic system is made up of three systems, market, command, and mixed. In market economies, prices are free, where in a command market, prices are set. In a mixed economy,
Open Document