International business in the conditions of globalization

Issue: № 2/1, 2021

Doi: https://doi.org/10.37634/efp.2021.2(1).1

Introduction. International business has big differences compared to business based within a certain country. The same principles which are used by national companies to ensure business processes in a particular country cannot be fully applied in international business. With this in mind, the study and analysis of the peculiarities of international business are necessary tasks. Many foreign and domestic scientists studied the process of development of international business in the context of globalization in their works, such as D. Johnson, K. Turner, S. Robock, S. Mocherny, S. Fomishin, EG Panchenko et. al. The purpose of the paper is to study the peculiarities of the development of international business in the context of globalization. Results. In recent years, the growth of international business has been impressive. This rapid development was influenced by two main reasons: the strategic goals of companies that contribute to the process of globalization, as well as the changing business environment. The processes of globalization and internationalization contribute to increased competition in international markets and cause certain structural changes in the external environment. Conclusion. Thus, globalization is a large-scale and multifaceted process that is developing quite rapidly. International business in the context of globalization is influenced by many factors, including: increasing the dependence of economies of different countries, the creation of transnational corporations, strengthening the competitiveness of the state in the world market, as well as the development of international institutions and membership in international organizations.

Keywords : international business, globalization, internationalization, development trends, world economy, organization, market, trade, economics

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