The World of International Business

Paper Summary:

This paper examines the world of international business by analyzing individual companies, nations, and other trade agreements including European Economic Community (EEC), North American Free Trade Agreement (NAFTA) and General Agreement on Tariffs and Trade (GATT). The author studies the implications and challenges of becoming an international company and at the same time, discusses the requirements a company must meet in order to survive international competition.

From the Paper:

"As this month's events have once again demonstrated, we are all linked together in a single world, one in which the idea of the modern nation-state itself is becoming increasingly less meaningful. Even as political alliances bind the world together, we also find ourselves powerfully reminded of the way in which the world is a single entity in terms of its economic systems as stock markets rocked throughout the world and talk was of how a recession in the United States would have international implications, even as U.S. markets themselves had been weakened in the past several years due to weakness. This economic interdependence is in part due to the importance of international trade. But it is also in large measure do to the ever-increasing importance of companies that do business internationally. This paper examines the current situation of international business, presenting a survey of the range of such businesses and outlining both the external contexts in which such companies conduct their business as well as the internal organization that is needed for a company to be able to function efficiently in an international context."

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