Topic > International Affairs - 1681

International Affairs1. International trade is a transaction between two or more countries and is primarily based in a single country, but acquires a significant share of its resources or revenue (or both) from other countries. It comprises an increasingly larger portion of the world's total business. While it is riskier and more expensive, it allows for a greater variety of different products and services at lower prices. Domestic business is a transaction within the country of origin; acquires all of its assets and sales and all of its products or services within a single country. A well-functioning national economy will enable smooth operations for international business. The difference between international and domestic business is, first, that when international business is conducted, it affects a variety of components such as profits, employment, wages, and security. These important aspects are sometimes negatively influenced and affect the citizens of the country of origin. On the other hand, domestic businesses generate jobs and promote economic security. According to Daniels, Radebaugh, and Sullivan, most companies undertake international activities to expand sales, acquire resources, and minimize risks. When a company wants to expand sales, it also expands its competitive scope. The company goes beyond the confines of its origin to maximize profits and also use them as a balancing factor. For example, if sales decrease domestically and sales increase internationally, the company will not be at a loss. They actually create a competitive advantage for those companies that are limited to domestic business only. There are policies and regulations on goods that are shipped internationally. Engaging in the home bus... middle of the paper... hey, they're engaging. Communication is a way of expressing thoughts and ideas expressed verbally or nonverbally. Most countries have a different language, dialect and linguistic interpretation. Sometimes having a language translator is not enough to consistently convey the initial meaning. Some words translated into another language can mean something totally different from what the author intended. There are also signs, symbols and colors that convey a "silent language" that can trigger an association with one's culture. Therefore, when companies enter a foreign market, they must know and understand verbal and nonverbal cues when promoting their product. Overall, once adjustments are made and communication is accurately expressed, conducting international business should lead to the possibility of a successful business relationship.