International Business and Academic Pursuits

The video explores why companies engage in international business, drawing parallels with students pursuing higher education. It outlines three main objectives: increasing sales, acquiring resources and knowledge, and reducing risks. Companies seek international markets for higher profits, access to resources, and risk mitigation. The video concludes by emphasizing the importance of assessing global factors before expanding internationally.

Why do companies engage in international business?

• To focus on a single market

• To avoid taxes

• To compete with local businesses

• To increase sales, acquire resources, and reduce risks

What is a major reason students pursue higher education?

• To travel abroad

• To increase their earning potential

• To avoid working

• To meet new friends

How do organizations increase their earning potential internationally?

• By avoiding competition

• By focusing only on local markets

• By selecting markets and designing products for profit

• By reducing product quality

What resources do colleges provide to students?

• Free housing

• Unlimited internet access

• Access to labs, libraries, and experienced professionals

• Guaranteed employment

Why do organizations engage in international business for resources?

• To increase local competition

• To access additional natural resources and lower production costs

• To avoid international laws

• To focus on a single market

How do students reduce the risk of unemployment?

• By traveling abroad

• By working multiple jobs

• By avoiding education

• By obtaining an academic degree or trade certification

What is a benefit of international business during an economic downturn?

• It reduces product quality

• It allows organizations to find sales in other markets

• It increases local competition

• It focuses on a single market

What is a common goal of both higher education and international business?

• To reduce costs at all expenses

• To focus on a single market

• To avoid competition

• To increase income or sales, add resources, and reduce risk

What should leaders do before operating internationally?

• Check out the landscape and assess external factors

• Ignore market research

• Focus only on local trends

• Avoid international partnerships

What is the next step after understanding the benefits of international business?

• Focus solely on local markets

• Stop expanding internationally

• Avoid further education

• Learn about assessing external factors through PEST analysis