Definition of International Business

The global dimension of humanity implies that the term international is used in many senses. If we talk about political relations, the concept of international relations is used and in the sphere of economic activity it speaks of international business, a term that is the translation of international business in English.

The fundamentals of international business

First of all, it should be noted that international business and International Trade they are equivalent concepts. Both concepts refer to the global framework of business and the exchange trade between countries. In this sense, there are some concepts typical of the internationalization of business, such as international marketing or finance international

The knowledge and practice of international business are associated with the great institutions governing world trade, especially the WTO (World Trade Organization).

The international business landscape depends on a wide range of aspects

1) the situation of exchange rates between different currencies,

2) the mentality and culture of the countries involved in the commercial activity,

3) the use of English as the hegemonic language in international business,

4) the question geopolitics,

5) tariff systems,

6) the logistical aspects in the distribution of products,

7) the infrastructures related to the shipment of goods and, ultimately, a whole set of circumstances that directly or indirectly have a relationship with the businesses to scale international.

International business in the academic field and as an element of the international projection of a nation

In most countries there are university studies oriented to international business. A significant example is the degree that is studied in Mexico and is known by the initials LIN (degree in international business).

Among the areas of knowledge of this type of training, the following should be highlighted: business strategies, global environment, financial tools or international markets. This training is based on the global environment of business relationships.

Finally, it should be noted that most countries have created public entities to promote international business (for example, the ICEX in Spain has the function of promoting exports and the investments Spanish in other countries).

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