GLOBAL BUSINESS

Global business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. These transactions take on various forms, which are often interrelated. As the definition indicates, and as for any kind of domestic business, “satisfaction” remains a key tenet of global business The wake of rising competition in both the national and international market. Global business has emerged as a result of globalization and internationalization of established domestic companies which is purported to increase the value of the company in question. Increasing pressure of globalization and the rising global competition have prompted managers and academicians to rethink the formulation of global business strategy.

International Business in India looks really lucrative and every passing day, it is coming up with only more possibilities. The growth in the international business sector in India is more than 7% annually. There is scope for more improvement if only the relations with the neighboring countries are stabilized. This is essentially the point where a global business differs from a national business development as different other factors such as product standardization and adaptation come in.