Factors Affecting International Business Practices

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International Business: International business basically involves all business transactions like the transfer of goods, services, capital, technology and managerial knowledge throughout the world. Similar to other businesses or trade, international business also incorporates the export and import of business items. There are various options for conducting business include starting a joint venture with an existing firm in the host nation, exporting goods and services, offering managerial services to firms in the host country, providing licenses to offer goods in the host country, and opening a branch in the host nation. Currently, most of the social and economic changes across the world have originated from globalization. Liberalization of Cross-border Transfer of Goods, Services, and Resources: One of the major factors that have acted as the driving force for the modern global economy is trade liberalization or the movements of goods, services, and resources. In the past few years, international business has been characterized by trade liberalization agreements that promote the movements of goods and services past international borders and with few limitations. The commencement of trade liberalization in international business was also stimulated by the increased interest by countries in the relationship between trade and sustainable development. Many governments in the modern world are liberalizing cross-border movements of goods, services, and resources because of
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