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define international management and explain how it differs from the management of domestic business operations International management is the management of business operations conducted in more than one country. The fundamental tasks of business management, including the financing, production and distribution of products and services do not change in any substantive way when a firm is transacting business across international borders. The basic management functions of planning, organising, leading, and controlling are the same whether a company operates domestically or internationally. The difference between domestic and international operations is that managers will experience greater difficulties and risks when performing these management functions on an international scale. indicate how dissimilarities in the economic, sociocultural and legal–political environments throughout the world can affect business operations Environmental factors that affect international business are similar to the task and general environmental sectors described in Chapter 3. However, when comparing one country with another, the economic, legal–political and sociocultural sectors present the greatest difficulties. The economic environment represents the economic conditions in the country where the international organisation operates. This part of the environment includes such factors as economic development, infrastructure, resource and product markets, exchange rates, inflation, interest rates and economic growth. Businesses must deal with unfamiliar legal–political systems when they go international, as well as with more government supervision and regulation.
Approximate Word count = 876
Approximate Pages = 3.5
(250 words per page double spaced)
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