The International Business and Trade in my Country

What is International Business and Trade? Give some example of IB operating in the country

From the words itself, International Business and Trade may define as business transactions and trade from one country to another. It involves different parties that are within and outside the country. But in more formal definition, it is purchasing products, selling of different goods and commodities, rendering services outside the national boarder of a specific country. The business may be owned by private, public or government organizations. It is important to note that international business is not only limited in one country but it is open to all the countries that has willingness to enter into that kind of business transactions.

For you, what is much better domestic business or IBT.

In my point of view as a consumer of the offered products and services in the market, the International Business and Trade is much better because I got to explore more products from different countries. I can experience what other countries has to offer in my own country. Simply, the more choices the more customer can be satisfied. Well, IBT is also a way to know the culture of other countries even if we do not go abroad. Also, based on my observation and researches, because of IBT there are more work offers here in the country especially in terms of manufacturing. There are more Filipinos employed because of it. It’s just a matter of give and take. Both the country of origin and the country it runs are benefitted.

Why do companies enter into international business and trade?

Companies enter into international business and trade because of the thought that it incurs more profit and it will become the medium for their companies to be known around the world. These companies wanted to expand their business, knowledge and competencies about running a business. The IBT served as a big arena for these companies to show what they’ve got and offers.

Why is it important for businesses to know and or study the problems and challenges in IBT?

It is important for a business to know and/or study the problems and challenges in IBT because it will serve as their ground or basis in their future decision making whether they will join the IBT or stay as domestic business. And from knowing the problems they can make plans and be ready to what may happen in their business. These challenges in IBT can also serve as a guide for a better business community where in consumers and producers can agree as one.