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International Business Paper

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International Business this semester was easily one of the most interesting courses I’ve taken at FIU. It opened my eyes to all the opportunities that international business opens up. Flying out to a foreign country that’s in the developmental stage and wisely investing your money there because the cost to produce your product/service is cut in half. We studied many different categories of international business like globalization, foreign direct investment, ethics and national culture, international business entry strategies, foreign exchange and international monetary system, and global production and logistics. We also briefly went into HR and marketing in comparison to the rest. This class has showed me what research I need to do in order to properly make an international business decision and has given me the confidence to explore into foreign markets.
Globalization, one of the main point of the course, is the basis of international business. It is how people interact with other people, companies, and governments from different nations, stemming down to the outcomes of the reactions and how we handle them. Ultimately, globalization is something that benefits everybody in different ways, no matter the situation. For developing nations, they need foreign investors to come in and spend their money to help boost the economy. For developed nations, their goal is to find cheaper ways to produce their product or service, and the only way to do that is to invest in developing nations. The rich and the poor nations both benefit from globalization, so the integration of the two is crucial.
Foreign Direct Investment (FDI) is another big aspect of international business. It is when a person, that is established in an enterprise in one country, establishes him/herself in another. According to the U.S. Dept. of Commerce, if someone invests
10% of their businesses money into a foreign enterprise, they're considered to be a multinational enterprise. Tying into FDI, international business strategies massive role in the success of a company in a foreign market. You have to go and learn the cultures values and ethics that they live their lives by. Look at your biggest competitors in those markets, and learn from them, from their mistakes and their accomplishments. The only way that you would commence a FDI is if you have already done your research and come up with a strategy for that market that you almost know will work. This strategy is your vision, it's what your managers base their actions off of and the approach they take to running this multinational enterprise. The production and logistics of the company will be determined and ran by the approach the managers use from the strategies. They could spend a lot of money on marketing and sales, hoping to increase the value of their product through their customers eyes.
All in all, in International Business, I learned how to be a smarter business man. I learned that I should look outside of my market, explore the world and expand your enterprise into other markets. It could be an economy that’s similar to yours, or even one that is completely different. You may find people that are interested in your product,

or you may discover how to produce it cheaper. That is what I took out of International
Business.…...

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