Foundations of International Business

What is International Business? From making your own clothes and growing your own food… To having others make your goods and services as the population increased and production/ distribution methods improved.

What is International Business? This dependence grew as more and more people began to specialize in the work they did. Today, Canada has a complex business system based on people’s specialties and makes a wide variety of items available for use.

All Countries Import Although countries like Canada and the United States have some level of economic independence, they still depend on other countries. Example: Coffee in the U.S. and Canada comes from Brazil; Japan depends on other countries for oil).

Domestic vs. International Business Making, buying, and selling goods and services within a country is called domestic business. (ex: Coke) International business includes all business activities needed to create, ship, and sell goods and services across national borders. (ex: buying a shirt made in Taiwan)

Advantages and Disadvantages Activity Think – Pair – Share 1) Think of possible advantages and disadvantages for International Business. (5 mins) 2) Share your ideas with your neighbor and write down the list you come up with. ( 10 mins) 3) Discussion and create a class list of advantages and disadvantages.