International Business

1. What is international business? How does it differ from international management?

Generally, international business refer as business transactions that involve two or more countries.

International business defined as those business activities of private or public enterprises that involve the movement of resources across national boundaries. The resources that may be involved in the cross-national transfers include raw material, semifinished and finished goods, services, capital, people and technology. Specific services trnasferred may include functions such as accounting, consulting, legal counsel and banking activities. Technology transferred may range from simple managerial and marketing know-how to higher level managerial and technical skills to utimately high-end technological advancements.

Examples of international business activities are export, import, countertrade, licensing and strategic alliances.

Generally, international management is the management of a firm's activities on an international scale. International management defined as a process of accomplishing the global objectives of a firm by effectively coordinating across national boundaries the procurement, allocation and utilization of the human, financial, intellectual and physical resources of the firm and effectively charting the path toward the desired organizational goals by navigating the firm through a global environment that is not only dynamic but often very hostile to the firm's very survival.

International management is different from international business . Management is to coordinate the human, financial, intellectual and physical resources and to integrate them into a unified whole. Without such coordination the resources would remain unrelated and disorganized and therefore inefficiently used. In addition, management also play a role of planning,