The Global Business Environment

Enterprises are experiencing the excitement of conducting business in the global marketplace. Altough selling goods and services in foreign markets can generate increased sales, produce operational efficiencies, expose companies to new technologies, and provide greater consumer choices, venturing abroad also exposes comanies to many new challenges. For instance, each country has unique ways doing business, which must be learned: Laws, customs, consumer preferences, ethical standards, labor skill, and political and economic stability vary from country to country, and all have the potential to affect a firm's international prospects. Furthermore, volatile currencies and international trade relationships can indeed make global expansion a risky proposition.