What is the concept of global business?

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The concept of global business refers to commercial activities that occur across national borders. It encompasses a wide range of practices, including trade, investment, and the operations of multinational corporations. Key aspects include:

1. International Trade: Buying and selling goods and services across countries, which allows businesses to access new markets and diversify their customer base.
2. Multinational Corporations (MNCs): Companies that operate in multiple countries, leveraging resources, labor, and markets globally.
3. Global Supply Chains: The interconnected network of production and distribution that spans multiple countries, allowing companies to optimize costs and efficiencies.
4. Cultural Considerations: Understanding and adapting to different cultural norms, consumer behaviors, and regulatory environments is crucial for success in global markets.
5. Economic Interdependence: Countries are increasingly reliant on each other for goods, services, and capital, making global business a key driver of economic growth.
6. Technological Advancements: Innovations in communication and transportation have made it easier for businesses to operate internationally.

Overall, global business aims to create value by capitalizing on the diverse opportunities available worldwide.