Competing in a Global Market

Globalization is the worldwide trend of the economies of the world becoming borderless and
interlinked —companies are no longer limited by their domestic boundaries and may conduct any
business activity anywhere in the world.

Nature of international business:

 A company engages in international business when it conducts any business functions
beyond its domestic borders.

 What kinds of business activities might make a company international?

 In this course, we refer to any company engaging in international business as a

multinational company or MNC. This is a broad definition, which includes all types of
companies, large and small, that engage in international business.

 Most often, when you see references to MNCs in the popular business press, the reference
is to multinational corporations.