Opportunities in International Business
Read this section, which discusses companies' various challenges and opportunities as they engage in international business. When a company enters the global market, the application of management principles intensifies as stakeholders' demands begin to take shape. It also gives a roadmap to how companies expand internationally, emphasizing international licensing agreements and franchising opportunities. Pay attention to how companies outsource manufacturing to countries with lower costs of labor to maximize profits. Domestic and international manufacturing options have advantages and disadvantages regarding environmental conditions, skilled labor, financial incentives, and cultural differences.