Reflection Journal in International Business

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1. When I was given the slides by Mr Dasilva, my heart pounded. Oh no…. International Business. It sounded so global and dry. I was hoping that it will be somewhat similar like Marketing. However, we were told that International Business is defined as Globalisation of Business where countries are more integrated and are interdependent on world economy. Which is similar like Marketing but in a wider view. Approaching to the learning of International Business, students were told on the Problem Based Learning. We learn base on the concept of applying the knowledge learnt and obtain answers through the process of thinking skills. There were no right or wrong answers as different individual will look at each problem in a different perspective.…show more content…
A Japanese branded car “Hyundai Jazz” parts made in Japan but assembling in Thailand. Does it not sound familiar?
My learning process for this chapter is the concepts of Globalisation where the basic understanding of International Trade must be learn. It is where country exports their business to consumers of another country. However as years move ahead and the world evolved with changes, business not only export or import products but started investment on manufacture their home product in a foreign country. Trade has started back as early as the 1920, where United States monopolised the Foreign Direct Investment. However, as stated in the textbook that the world’s nation erected formidable trade barrier to international trade due to the protect each own domestic industries against foreign competitors. Until the end of World War 2, GATT worked towards removing barriers to free flow of goods. In this chapter, we were taught on the main ingredient of International Business, where if we do a mind map, the headlines will be Globalisation of Markets, Globalisation of Products and Drivers of Globalisation. Globalisation is branch out to many determinants, what lead to business to Globalisation and how it started to rise. I also learn that all these factors are inversely related to one another and objectives of International Business is a common ground of understanding where firms want to achieve competitive advantage in the
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