Why is international business important?

Answer

International business is important because it gives domestic companies access to new markets, potentially increasing sales and profitability. Operating internationally can also help a company lower expenses through direct access to cheaper materials and labor.

International business is important to individual companies and the US economy generally. With Internet globalization of the world marketplace, companies are competing with businesses from around the world whether they want to or not. Knowing how to take advantage of international business opportunities can ensure a company's continued success. Also, a measure of the strength of the US economy is based on the quantity of business exports and imports to and from the international marketplace, making international business extremely important to the quality of life in this country according to the U.S. Department of State.

Q&A Related to "Why is international business important?"
Advantages Faster growth: Firms that have operate internationally tend to develop at a much quicker pace than those operating locally Access to cheaper inputs: Operating internationally
http://wiki.answers.com/Q/What_are_disadvantages_o...
Expense is probably the number one disadvantage related to technology and business. For example, as of 2010, a single computer or software program may cost several hundred dollars
http://www.ehow.com/about_6318754_disadvantage-tec...
That depends on where you want to end up and what you want to ultimately do. If you want a global career or a career outside of India, you would be wise to get an MBA outside of India
http://www.quora.com/Business-School/Where-should-...
There is no gold standard anymore.
http://answers.yahoo.com/question/index?qid=200802...
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