international business practicum in marketing dynamics unit 1, lesson 1 copyright © texas education...

International Business

Practicum in Marketing DynamicsUnit 1, Lesson 1

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Goals

• The student will be able to analyze the impact of an international economy on business activities

• The student will determine the impact of multiculturalism and multigenerationalism on business activities .


Terms

• Imports• Exports• Globalization• Trade agreements• Multinationals• Cultural Factors• Economic Factors

• Political & Legal Factors

• Culture• Multiculturalism• Multigenerationalism



• Imports – good or services that are purchased by one country from another country.

• Exports – goods or services that are sold by one country from another country.



• Trade Agreements are made by two or more countries that establish guidelines for international trade and to setup trade alliances. – NAFTA – North American Free Trade Agreement



• Multinationals are companies that have operations in foreign countries. – McDonalds– IKEA– Coke-Cola– WalMart



• Cultural Factors are differences in language an culture that make international business more challenging– Language– Values– Customs



• Economic Factors must be considered when considering starting up a business in a foreign country.– Infrastructure– Labor– Taxes– Currency exchange– Standard of living



• Political and Legal Factors – Type of political system– Governmental policies– Government stability– Nationalization



• Technological Factors – Technology has changed the way people get

involved in international business. • Internet• Email• Cell phones• Computers



• Culture is a system of learned, shared, unifying, and interrelated beliefs values, and assumptions. – Learned through• Home• School• Religious institutions



• Multiculturalism is the appreciation, acceptance or promotion of multiple cultures in a society.



• Multigenerational is having several generations living and working together.– Baby boomers (1946-1964)– Generation X (1965-1976)– Generation Y (1977-1997 also known as

millennials)– Generation Z (early 90’s to present – net

generation)



• Country Expansion Project– You are an employee of a business that wishes to

expand into the international market to research the country to which your business is hoping to expand.• Culture• Political and Legal• Government• Technology


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