Challenges of International Business Management - 1037 Words

CHALLENGES OF INTERNATIONAL BUSINESS MANAGEMENT What are the challenges of International Business Management? International business management is a term that is used collectively to describe all commercial transactions which include; †¢ Private †¢ Governmental †¢ Sales †¢ Investments †¢ Transportation The above take place between two or more nations. It involves all business activities which partake in cross border activities of goods, services and resources between nations. Private companies and the government partake in international business for profit and political reasons respectively. Every business has its difficulties and presents is own challenges in when it comes to operating it successfully. Countries and firms†¦show more content†¦(d) Any economic planning agencies that would give the economic trends for the foreseeable future. (Example - India has a five-year plan and sometimes over 10 years and the expected progress over a number of years in the future). (e) The infrastructure for support services providing for power and water availability, housing conditions, transportation and communications. (f) Stability of local currency and its acceptance outside the host country. International business in the country also deals with import and export of goods, services and resources between different countries. It is necessary for both the countries to have a common understanding while transacting of the goods. In addition to import and export of goods and services, the international business transactions may be conducted in any of the following ways: (a) Licensing agreements. In this type of agreement, a company in a host country may enter into a binding agreement with a particular organization by which the host country organization will produce and sell products under licensing granted by the organization of the home country. (b) Management contracts. Management contracts involve simply providing managerial talent to the operating foreign companies. (c) Turn-key projects. This means that an organization provides all services to a foreignShow MoreRelatedThe Challenges Of International Management1195 Words   |  5 PagesInternational management is defined as the practice of business operations in multiple countries. To be involved in international management professionals must be familiar with many different types of language, culture, economies, and environments. One of the main goals of international management is to link businesses globally and make a profit, while being able to connect various cultures. There are many challenges brought about in the field of international management. One of the biggest challengesRead Morethe biggest challenges and biggest opportunities facing new managers entering industry883 Words   |  4 Pagesare the biggest challenges and biggest opportunities facing new managers entering industry? 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