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Introduction to International Business

In this free online course, learn the concepts and processes involved in International Business and Finance.

Publisher: NPTEL
In this free online course, learn about the challenges and frameworks involved in International Business. Study the definition of international business and finance. International marketing, which refers to the application of marketing principles to satisfy the varied needs and wants of different people residing across the national borders, will be discussed. Boost your International Business skills by studying this comprehensive course.
Introduction to International Business
  • Duration

    1.5-3 Hours
  • Students

    1,041
  • Accreditation

    CPD

Description

Modules

Outcome

Certification

View course modules

Description

In this free online course, you are introduced to the world of International Business. You will explore the fact that according to the International Business Journal, international business refers to a commercial enterprise that performs economical activity beyond the bounds of its location, with branches in two or more foreign countries making use of economic, cultural, political, legal, and other differences between countries. In addition to this, the evidence that International finance is a section of financial economics that deals with the monitory interactions that occur between two or more countries will also be discussed. You will discover that the term 'direct exporters' refer to organizations that produce their products in their home market and then sell them to customers overseas. You will be introduced to the concept of counter trading which refers to the process of exchanging goods or services which are paid for in whole or part using other goods or services, rather than using money. You will learn that the term 'indirect exporters' refer to organizations that sell their products to a third party who then sells them in the foreign markets.

The course begins by introducing you to the factors contributing to the rapid growth of international business and the reasons why international business is important for big corporations. Then, the concept of piggybacking will be discussed, which is a viable alternative for firms with limited exporting capabilities, limited resources and a lack of foreign market knowledge. The main requirement for piggybacking is to produce quality goods and finding firms that are willing to carry them for you. You will explore the idea that licensing refers to an agreement between the licensor and the licensee over a certain period of time for the use of a brand name, marketing, know-how, copyright, work methods and trademark by paying a license fee. You will recognise that the concept of business process outsourcing refers to the outsourcing of peripheral activities of the organization to an external organization to minimize costs and increase efficiency. It will be clarified that a firm that possesses technical skills or management know-how can expand overseas by providing its managerial and technical expertise on a contractual basis.

Next, you will learn that franchising refers to an agreement where one party grants another party the right to use its trademark or trade-name as well as certain business systems and processes as long as it keeps to particular stipulations. You will gain insight into the fact that the degree of control in a licensing arrangement is such that the licensor has control over the use of the intellectual property by the licensee, but has no control over the licensee’s business, whilst under the franchising arrangement, the franchisor exerts considerable control over the franchisee’s business and process. You will then understand that knowledge process outsourcing, refers to the outsourcing of functions related to knowledge and information to third-party service providers. You will be taught that in external trade the term 'entrepot' refers to the importation of goods not for consumption in the home country but for export to another country. Finally, you will study the different types of external trade, the modes of entry into international business, choice of entry, external factors, and organizational systems. This course will be of interest to business students, or those professionals in international trade. Why wait? Start this course today and become an expert in International Business.

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