Understanding The International Context Of Business Trade And Logistics

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There are many benefits of understanding the international context of business trade and logistics. To achieve competitive advantage, even within small firms, it is necessary to gain expertise in the international logistics activities which are much more complex than what domestic trade involves. The world’s economy is increasingly global, and the logistics sector designates a significant fraction of that economic activity, the estimated total stands at $7. 4 trillion dollars (David, 2013, p. 53). Technology and electronic communication have facilitated customer demand fulfillment and the movement of products. For someone in business it is critical to understand the continued growth in international trade, drivers of international trade, and the possible barriers in the international infrastructure.
“According to Entrepreneur Magazine (as cited in Bagley, 2012) there are between 25 million and 27 million small businesses in the U.S. that account for 60 to 80 percent of all U.S. jobs”. The article by Bagley, goes on to mention how providing support and tools that aid small businesses to be more sustainable and profitable is in the best interest for the United States (U.S.) economy. Companies with a growing home reputation for the quality of their product seek to expand and export globally (Winch and Bianchi, 2006). Entering a new market can be a gainful experience for a small or medium-sized business owner due to the immense growth in international trade. “International

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