Business Decisions Of Imports And Exports The First Step

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In order to make informed business decisions in regards to imports and exports the first step is to know what each mean. Imports refers to the exchange of finished goods, raw materials and services across the borders of The United States of America. Exports refers to the exchange of finished goods, raw materials and services to nations and countries outside of the United States of America. The reason to import and export is because some nations have a surplus of natural resources or ability to produce raw materials that other countries cannot. For example, the United States is known for the production of natural gas whereas Japan is known for the production of electronics. An advantage of export is for market expansion however there are disadvantages of export such as trade regulations and language barriers. Importing allows for low prices and high quality products. Unfortunately, these advantages can lead to job loss in the United States. In my Global Business class, I researched markets to enter as a global entrepreneur that imported materials to manufactured windmills in Mexico and export energy. Throughout this course, I researched and studied market differentiation, country resources, regulations and procedures and any possible risks associated with doing business in another country. I learned various forms of market entry and financial considerations such as direct investments, joint ventures, franchising, and licensing. Throughout this class, I utilized

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