Understanding the International Business Environment

How do you think business changes when you begin dealing with international partners and policies? What remains the same and what changes drastically? In this course, you will be introduced to the world of international business and its environment. You will explore the ‘PESTEL’ analysis, a widely used tool that helps present a big picture of a firm’s external environment, particularly as it relates to foreign markets. It can help marketers assess whether macro-economic factors are affecting an organisation. You will be introduced to the concept of democracy, which refers to a political system that endorses the rule of law and grants the voting citizenry the power to alter the law and structure of the government. You will learn that countries with an individualistic orientation encourage businesses to support the good of the community by promoting fair and just competition.

The course begins by introducing you to the physical factors that affect international business operations and the steps in the environmental analysis process. The ‘Freedom in the World’ Index will then be discussed, which is an annual global report on political rights and civil liberties that is composed of numerical ratings and graphic texts for each region. You will explore the fact that every country has its own political and legal system to maintain a recognised procedure for allocating valued resources. These political and legal systems are useful in making decisions about the duties and responsibilities of citizens and their rights. How far-reaching are these legal systems? You will discover the fact that the legal system in a country is the mechanism for creating, interpreting and enforcing the laws in a specified jurisdiction. It will be clarified that the rule of law institutes a just political and social environment and guarantees the enforceability of commercial contracts, business transactions and safeguards personal property. You will discover that intellectual property refers to creative ideas, expertise or intangible insights that grant its owner a competitive advantage.

Next, you will learn that all countries legislate a broad range of laws in order to regulate business activities such as the investment of capital, the payment of dividends to foreign investors and decisions about internal structures and operations. You will gain insight into the ‘World Justice Project Rule of Law’ Index, the world’s most comprehensive dataset that relies principally on primary data, measuring each country’s adherence to the rule of law from the perspective of ordinary people and their experiences. You will be taught that cultures consist of people who share attitudes, values and beliefs and that they evolve over time. You will learn about the different examples of institutions that compose the political system in a country and the different types of democracy. Finally, you will study behavioural practices, political environmental factors, Maslow’s Theory and information processing. This course will be of interest to business students or those professionals in international business. Why wait? Start this course today and become an expert in the fascinating international business environment.