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Why Study International Business Essay

1001 Words5 Pages

Pre World War II Stage Before the Second World War, international capital movements were highly influenced by the industrial revolution, which resulted into a significant effect on international business. The industrial revolution occurred in the United Kingdom and made the production of manufacturing goods convenient and cheaper through mechanisation of the production process. Surplus goods were available for export to other countries. Innovations caused large-scale production of a variety of goods that required more raw materials from other countries. As a result, capital began to flow out, manufactured goods were exported by the European countries and food and raw materials by the less developed countries. Post World War II Stage after World War II, severe recession plagued the world economy in 1930. It was only after the mid 1940s that international business began to grow rapidly. …show more content…

Some important reasons to study international business can be discussed below. Extensive knowledge about international business helps youngsters explore job and business opportunities in the competitive world of multinational and transnational corporations as these companies source their human resources globally. For example, most global companies want to hire skilled employees for their BPO operations from India. Most products of our daily life are an outcome of cross border business. Knowledge of international business enables its customers to identify the quality of a brand and to know other information such as where it is manufactured and about its competitors. For example, it is good to know that if we are using a Nokia cell phone, we are dealing with a Finnish multinational company that is engaged in the manufacturing of mobile devices and in converging Internet and communication industries, with over 132,000 employees in 120 countries, sales in more than 150

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