Dear Students,
Welcome to the site of the introductory course on International Business.
International Business (IB) deals with issues faced by international companies and governments in dealing with international business transactions. IB consists of the activities of private and public enterprises that involve the movement across national boundaries of goods and services, resources, knowledge or skills. It covers all business transactions that involve two or more countries.
International business combines the science and the art of business with many other disciplines, such as economics, anthropology, geography, history, culture studies, jurisprudence, statistics and demography. International business is important and necessary because economic isolationism has become impossible. Successful participation in international business, however, holds the promise of improved quality of life and a better society, even leading, some believe, to a more peaceful world.
International Business is a challenge and opportunity for both large and small firms. A multinational enterprise (MNE) has a worldwide approach to foreign markets and production and an integrated global philosophy encompassing both domestic and international markets. MNEs organize their activities globally and thus need to implement global management strategies and approaches. Global management is a process of accomplishing the global objectives of a firm by effectively coordinating the procurement, allocation, and utilization of the human, financial, intellectual, and physical resources of the firm within and across national boundaries and effectively navigating the firm through a global environment that is dynamic but often very hostile to the firm’s very survival. Small firms and start-up firms can challenge the existing, long-dominant, large competition. Speed, creativity, and innovation have often become more important to international success than size.
Understanding international business is therefore crucial in preparing for the opportunities, challenges and requirements of a future career. On an individual level, most of you are likely to become involved with international business enterprises during your career.
For us, IB is a career choice and a passion. Thank you for your choice to join the IB scholarship.
Daojuan Wang and Agnieszka Urszula Nowinska
- Teacher: Thorstein Enevoldsen
- Teacher: Taqwa Lauritsen