A New Perspective On International Business - 1078 Words

International business has been and continues to be a rapidly growing dimension with communication and transportation advances enabling companies to service a world market. This brings about a new perspective when conducting business in a foreign country, with the need to consider different laws, economic policies, political climates, cultural dynamics, and social factors. Obligatory for its success, a company wishing to expand globally must look at these differences when formulating its international business plan. Additionally, on the heels of such scandals such as those involving Enron, WorldCom, and Satyam Computer Services, investors desire a single international accounting standard; however, hold differing opinions as to what that single standard should be. In the United States, Generally Accepted Accounting Principles (GAAP) outlines for accountants the acceptable practices regarding the preparation of financial statements. GAAP, developed by the Financial Accounting Stand ards Board (FASB) and known for being more rules-based, specifies the presentation of financial data on the balance statement, income statement, and statement of cash flows. While certain circumstances allow for deviation from GAAP, those deviations must be disclosed. Internationally, accounting standards are under the eye of the International Accounting Standards Board (IASB) and referred to as International Financial Reporting Standards (IFRS), which is known for being principles-basedShow MoreRelatedInternational Marketing. Submitted By: Zeinab Amin. Submitted1484 Words   |  6 Pages International Marketing Submitted by: Zeinab Amin Submitted by: Melanie Simmons International Business Northern Alberta Institute of Technology March 12, 2017 â€Æ' Table of Contents INTRODUCTION 3 INTERNATIONAL MARKETING 4 MARKETING PLAN 5 FACTORS EFFECTING INTERNATIONAL MARKETING 6 PEST ANALYSIS 6 POLITICAL 6 ECONOMIC 7 SOCIAL 8 TECHNOLOGICAL 8 INTERNATIONAL MARKETING STRATEGIES 8 EXPORTING 9 LICENSING AND FRANCHISING 9 JOINT VENTURE 10 DIRECT INVESTMENTS 10 CONCLUSION 10 REFERENCES 12 â€Æ' INTRODUCTIONRead MoreIntroduction. Coca-Cola Is One Of The Company That Gets1482 Words   |  6 Pagesoutside of the United States; this is a perfect example of international Marketing. The term ‘international marketing’ is not only based on marketing, but rather more building, and executing a solid marketing plan and actively looking for opportunities to expand a given business by moving to new geographic markets, finding new offerings, and products and services that would fit within your company. No doubt expanding a business to an international market can be very challenging. It is costly to implementRead MoreMulticultural Considerations in Business880 Words   |  3 PagesMulticultural Considerations in Business There are many different impacts that culture has on the way business is conducted; cultural systems of values and beliefs lead to specific interpretations of events and interactions, and different demands and expectations for business relationships often exist for individuals from different cultural backgrounds. Engaging in international and multicultural business requires a level of understanding and awareness of specific cultural issues that might ariseRead MoreBusiness Relationships Within A Business Network Context1231 Words   |  5 Pagespolicy†, Journal of International Management, 7, pp. 235-51. 2. Alvarez, S.A. Busenitz L.W., (2001) The entrepreneurship of resource-based theory. Journal of Management, 27(6), p. 755-775 3. Anderson, J., Hakansson, H. and Johanson, J. (1994). Dyadic Business Relationships within a Business Network Context. Journal of Marketing, 58(4), p.1. 4. Andersson, S. Ingemar W. (2003) Innovative Internationalisation in New firms: Born Globals - the Swedish Case. Journal of International Entrepreneurship, 1Read MoreCase Study : Regional Medical Centre Essay919 Words   |  4 Pagesuniversity support for the nearby medical college. The business intelligence balanced scorecard which was incorporated in the system is as tabulated below: Customer perspective Economic and financial perspective Customer satisfaction grades Revenues for services Point of service surveys Costs for services Complaints/feedbacks Units of service provided Waiting time for first visit Innovation and growth perspective Operations perspective Healthcare market share of region Length of patientRead MoreWhat Role Do Hrm Practices Play in a Business Decision to Expand Internationally?1327 Words   |  6 PagesWhat Role Do HRM Practices Play In A Business Decision To Expand Internationally? Ilein Arteaga 2608214 Florida International University HRM CONTRIBUTIONS TO INTERNATIONAL EXPANSION OF BUSINESS Human Resource practices play a great role in the international expansion of businesses. With globalization being the current trend in businesses all over the world, success of international business units depends heavily on the effective performance of the Human Resource departmentRead MoreThe Importance Of Accounting Standards For Business Affairs1049 Words   |  5 PagesIntroduction IFRS is a general global financial language for business affairs that’s understandable globally and comparable across the international boundaries. IFRS initially was formed to harmonize accounting across European Union, but the value of harmonization was so overwhelming and attractive around the world that became a benchmark globally. Importance of Accounting Standards In this assignment I want to explain the importance of the Accounting standards. As the world economy is becoming integratedRead MoreWhy Do Business Internationalise?. International Trade1181 Words   |  5 PagesWhy do business internationalise? International trade can be traced back to ancient years. Our ancestors, with the purpose of increasing the variety of local products, had been trying their best for decades to trade cross border. 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One important concept which provides insight into the idea of intercultural aptitude is the notion of â€Å"mindfulness† or the ability to interact with others from different cultures. Managers must become more culturally sensitive since diversity in the workplace