International Business means cross-border trade in goods, services, technology, capital and / or knowledge on a global or transnational scale. This includes cross-border trade in goods and services between two or more countries.
To maintain and implement successful business operations in foreign countries, people need to know how differences in cultures and traditions between nations affect business practices. This idea is known as cultural literacy. Without knowledge of the culture of the host country, strategizing companies when entering foreign markets is more difficult and prone to error than the market and culture of their own country.
This can create a “blind spot” in decision-making and lead to ethnicity.
VMR advisors help organisations in applying successful internation trades.