The large volumes of trade, the existence of huge multinational business entities, and the rapidly changing international business environment merely emphasize the fundamental interrelationships of business firms, governments, economies, and the markets in the world today.
The study of international business is also provides the modern business manager with greater awareness of wider business opportunities than those available within local boarders, which, in strategic management terms, means that the parameters of the managers external environment, as well as possible configuration of the external environment, have expanded for the modern and progressive firm.
These developments over the past 50 years has set a trend likely to continue upward, with increases in the flow of goods, capital, investments and labor across national borders, and the growth of truly global industries and corporations.
Reference : International Business by Karel Cool
