International business

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International business is a term used to collectively describe topics relating to the operations of firms with interests in several countries. Such firms are sometimes called multinational corporations (MNC's). Points of discussion with this topic may include cultural considerations, which itself may include differences in law and legal systems, language barriers, living standards, climate and more. These have to be overcome for an MNC to be successful in an overseas venture. A form of company in international business is an IBC. An IBC (international business corporation) is a form of offshore company. IBCs include banks, insurance companies, and trading firms.

Well known examples of MNCs include fastfood companies McDonald's and Yum Brands, vehicle manufacturers like General Motors and Toyota, consumer electronics companies like LG, Sony, Siemens A.G. and General Electric.

MNCs generally have a subsidiary or an interest over a company in the country of venture.

The recent developement is increasing number of MNCs from Emerging Markets.Professor Tarun Khanna and others at Harvard and Prof Rajesh K Pillania are studing such MNCs as well as how MNCs from developed countries can be successful in emerging markets.

One of the results on the increasing success of International Business ventures is Globalization.