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Asked a question 3 years ago

what is international business? what problems are faced by entrepreneurs that are involved in international business?

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international business as the name suggests is the business conducted across two or more countries. the scope of international business is wide as it is not restricted to its domestic territory. it also responsible for taking lastest technologies in various firms across the globe .it improves the relations and coorporation among different nations across the globe. the most important feature of international business is that it increases competition. as it involves transaction all round thw world it is highly complex than carrying out domestic business so the entrepreneurs faces the following problems or complexities :

  1. international business is highly sensitive to the changes taking place in areas like economic ,technology , political ,social policies of a country. so an entrepreneur carrying international business should continously monitor these  changes .
  2. international business involves transactions between two or more countries so coverting of money into different currencies is important so entrepreneurs should focus on foriegn exchange market and develop policies to with changes taking place in the market .
  3. international business also faces many restrictions with respect to tariff barriers, import and export policies , investments etc.thtat have a huge impact on it  so an entrepreneur should study and develop strategies to deal with it .