SCM – Operation-Supply Chain Management

• Quizzes: 14

International business has evolved over centuries, driven by trade, exploration, and globalization. From the Silk Road to the modern digital economy, businesses have expanded beyond borders, fostering economic growth and cultural exchange. The Industrial Revolution and advancements in transportation and communication further accelerated global trade, shaping the interconnected markets we see today.

Economic theories such as mercantilism, comparative advantage, and globalization have influenced international business strategies. Renowned thinkers like Adam Smith and David Ricardo laid the foundation for free trade principles; while modern theories address multinational corporations, supply chains, and digital commerce.

In practice, international business involves trade, investment, market entry strategies, and cross-cultural management. Companies navigate complexities like foreign regulations, tariffs, currency exchange, and geopolitical risks. Today, technology and sustainability play a critical role in shaping global commerce, driving innovation and ethical considerations.

Understanding international business is essential for companies seeking global expansion. Strategic planning, cultural awareness, and adaptability are key to success in the global marketplace. As the world becomes increasingly interconnected, businesses must embrace new opportunities while managing challenges to achieve sustainable growth.