International Business is a business that
contains international economic activities and the action of doing business in
a foreign country. It can also denote the act of doing business abroad such as transaction
of goods and services between two or more countries. Transactions of economic
resources contain capital, skills, and people for the purpose of the
international production of physical goods and services. For example,
economics, lending, insurance, and construction. Moreover, it deals with topics
on how to enter foreign markets and how to choice alliance partners. The most
frequently discussed foreign participant is the multinational enterprise (MNE).
MNE defined as a firm that involves in foreign direct investment (FDI) by
directly investing in, monitoring, and managing value-added activities in other
countries. Furthermore, International Business is also recognized as
globalization. Globalization mentions to the international trade between countries,
which in turn refers to the propensity of international trade, investments,
information skill and outsourced manufacturing to pile the economies of varied
countries together. International Business is needed for the country. Why?
Why International Business needed?
International Business provides many benefits for the country even to the
country that we have chosen, which Malaysia is. One of the benefits is it can
give new innovation in our country. Why I am saying this because through International
business we could learn new knowledge and skills from the other countries. How
can we learn their skills and knowledge? As a student in Malaysia, we can study
in schools or we can also take an international business course in college.
Thus, the students can implement the knowledge to their workplace in future to
achieve the organization’s goal. Moreover, as a businessman, we can go overseas
and engage with the other country business on how they work on a project to
make it a successful one. Besides, the businessman also can communicate well
with the other countries businessman to get more information on how to improve
our projects here, in Malaysia. By doing so, we can increase the profits of the
company. This is also another benefit for Malaysia. Why?
Why there is an increase in profits? One
of the reasons is because of the strategic place and product that they produce.
The place they have chosen to do a business also plays an important role to
increase the profit. For example, if we do business in a rural area we have to
create a product that is usable for them, if we create a product that is usable
for the town peoples then the place and product that they have chosen is not
right. Thus, it can increase the profit of the country. Moreover, by increasing
the company’s profit, we can do more exporting and it is another benefit for
Malaysia. From this, we can increase the reputation and can be a well-known
country. Through this, it can help to increase country’s gross national income
and it is because if we export more, we can increase income in the country.
Besides, Malaysia government welcomed export-oriented industries because it
creates a very positive environment in the country. This is because peoples are
satisfied with our products that we have created. At the same time, it can
attract other countries to invest in our country, Malaysia because they trust
Through increasing the profit in Malaysia,
it can also increase the employability in our country. Employability is one of
the main issues going on right now because many fresh undergraduates do not
have a work that relates to their course because there is no much
employability. Thus, from the profit, our country can build more companies to
increase the employability in the country. Through this, the new employees can
give more ideas on how to improve a product or a company’s situation to a
better one. Besides, it can bring out more professions for our country if we
increase the employability because they have more experience from the current
workplace. Thus, we can know their specialty as an individual. Through that, we
can give position according to that specialty. Thus, they will be motivated to
work well and they help to achieve more on organization’s goal.
As a conclusion, Malaysia needs
International Business because it can enhance the country to be a better one a
well-known country. At the same time, Malaysia can be benefited in many ways
such as can create new innovation, increase profits and employability, and, can
attract more outsiders to invest in our country. It can also increase