What Are The Challenges In International Business?
The three main challenges that international firms may encountered are as follows:
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PHYSICAL CHALLENGE |
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Examples are: Natural resources, climate, location, terrorism, natural disasters, geographical barriers |
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SOCIAL CHALLENGE |
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Examples are: Culture, legal, different political systems, nationalization and economy |
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COMPETITIVE CHALLENGE |
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Examples are: Price, Firm’s size, market size, competitors, firm’s strategy, cost-effectiveness |
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