International-Business-Dr-R-Chandran-E-book

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International Business- Dr. R. Chandran
3.Key Factors Influencing International Business
Analyzing similarities and dissimilarities prevalent in countries
gives wisdom; selecting a country for business enkindles spirit
and minimizing risks knocks the door of success.
Learning value:
This chapter highlights the major factors influencing the direction of
international business;
1. Importance of environmental factors
2. Economic environment
3. Social environment
4. Political environment
5. Cultural environment
6. Technological environment
7. Legal environment
8. Competitive environment
A pilot has to check the atmosphere prior to take-off and landing his aircraft.
A sailor has to understand waters & before sailing peacefully.
A farmer has to plant seeds depending on the nature of the soil and
monsoon.
On the same line, an international business entry or operation depends upon
multiple environmental factors. They may change the direction, strategy and
every moment of international business operations.
Prior to going deep in to the topic, we can ask ourselves few questions and
seek answers.
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