OTHERS

Importance of International Business

1. National Economy

   — Industrial Ease – As the industry needs an exchange of goods and services to work smoothly, International Business provides this by imports required for the industrial needs.

   — Debt Servicing – When a business eventually grows in the International Markets, the debt is required for the initial growth of the business to fulfill the demands. And the debt is granted based on their business.

   — Economic Growth – when there is the growth of business in the international market, the profits are added in the Economy of the country from where the exports are executed. It ensures the growth of the economy.

   — Profitable use of Natural Resources – Availablity of natural resources differs from place to place. When these resources are available in abundance in a specified group of countries and the demand of that product is all over the world, that resource is to be exported to various parts of the world so that the resource is used in a productive as well as a profitable way.

   — Increase Employment Opportunity – When a business grows in the international market, it is expected from them to grow their production to fulfill the demand. For this, the business needs more employees leading to an increase in employment.

   — Increased National Income – When an International Business takes place, the income is collected from one country and finally deposited in the originating country, from where the business started. This will increase the national income of the originating country as the currency of another country is being involved.

   — Increased Standard of Living – When a person is indulged in international business, the person will earn more profit than the domestic market. It will lead to an improvement in the particular person’s standard of living. to be contin…………………………….

Nikita Singhal BBA 6th semester M.(A) TIAS, New Delhi

Be Our InTraders’ Author for Free of Registration to InTraders’ Conferences

The 5th InTraders International Conference On International Trade, 13-17 April 2020, İstanbul, Turkey

Rashmi Gujrati

Prof. Dr. Rashmi Gujrati , Professor, Institute: Management College. India Qualification: M.com, MBA, Ph.D. Specialization: Marketing, Finance & International Business Regulatory board Member of InTraders Academic Platform • Life member of India Commerce Association • Life member of Indian Accounting Association • Life member of Association of Indian College Principals • Member of Foundation Social Science Research FSSER Malaysia Reviewer Committee member of IBIMA Association Spain. • Scientific & Review committee, Advisory Board, Editorial research projects of AASE as a trainer/consultant/researcher AASE Member Chung Yaun Christiana University Taiwan.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker