The transformation of an MNE's products from raw materials to a finished good or service is called the international value chain.

One of the key internal drivers for international business is technology.

International business relates to any situation where the production or distribution of goods or services crosses country borders.

Globalization can be defined only in terms of markets but not in terms of production.

International transfers of resources, such as people, intellectual property, and contractual assets or liabilities, do not form a part of international business.

The knowledge of both strategic management and entrepreneurship enhances one’s understanding of international business.

International business would not be relevant to an organization if it only produced and sold its products in one country.

Globalization is fueled largely by declining trade and investment barriers and new technologies, such as the Internet.

Internal and external factors of globalization can be divided into market, environmental and competitive.

As a result of globalization, we have been moving toward a world in which national economies are relatively self-contained entities.

By offering the same basic product worldwide, firms help to create a global market.

The lowering of trade and investment barriers allows firms to base production at the optimal location for that activity.

The Internet has been a major force facilitating international trade in services.

Although most international trade and investment is still conducted by large firms, many medium-size and small businesses are becoming increasingly involved in international trade and investment.

A firm has to become a multinational enterprise, investing directly in operations in other countries, to engage in international business.

Differences among countries require that an international business vary its practices country by country.

Foreign direct investment (FDI) occurs when a firm invests resources in business activities outside its home country.

The attractiveness of a country as a potential market for an international business depends on balancing the benefits, costs, and risks associated with doing business in that country.

Markets can be segmented in only one way: by socio-cultural factors.