Global Business 101
The old adage is “it’s a small world.” It’s true in the sense of the information you can access from around the world and your ability to connect with the most important decision makers and business leaders across the globe. This is evident most in the world of global business. Global business is a term used to describe any company or organization who conducts business outside of the country in which it is headquartered.
As the world’s trade and commerce get more complicated, companies large and small must take steps to ensure that they are prepared to meet these new problems. This involves understanding international business and its nuances and being able to work with partners and colleagues from other countries.
The undergraduate Journal of Global Business and Trade (JGBT) features research papers, reports, and commentaries that are relevant to the area of global business. It’s also an official journal of the Consortium for Undergraduate International Business Education (CUIBE).
It’s crucial to know how cultural differences can affect the performance of your business abroad regardless of whether you’re a company owner who is thinking of entering international markets, or want to make sure your team is ready. It is essential to understand the customs, holidays and social norms that are common in the various cultures you might encounter when conducting global business. This is a great method to improve your “export intelligence.” It could also be helpful to know what you can expect from business partners in other countries, for example, different levels of comfort with personal space or how to greet someone in a foreign language.