The old adage is “it’s an incredibly small world.” It’s true with regard to your access to information from all over the world as well as your connections to important decision makers and leaders in every corner of our planet. This is never more evident than in global business, a term that covers any company or organisation which conducts business outside of its home country.
As the world’s commerce and trade become more complex, businesses large and small must take steps to ensure they are well-equipped to handle these new problems. This includes understanding international business and its nuances, as well being able to work effectively with colleagues and partners in other countries.
The undergraduate Journal of Global Business and Trade (JGBT) includes research papers reports, articles, and commentary that are relevant to the world of global business. It is also the official journal of CUIBE the Consortium for Undergraduate International Business Education.
It’s crucial to know how cultural differences can affect the success of your business abroad regardless of whether you’re a business owner considering entering global markets, or just want to ensure that your team is ready. This means understanding the customs as well as the holidays, beliefs, and social norms of the various cultures that you will encounter in your global business ventures. It’s the best way to increase your “export IQ.” It’s also useful to know how to interact with business partners from other countries. For example various cultures have different standards for personal space and greetings.
www.terraeconomy.com/2020/04/07/global-business-ideas-in-entrepreneurship/