Global Business - Unit 1

Module 1: Introduction, history of international business, and case studies (IKEA, US-China relations, Mercosur).
Module 2: Insights into regional markets, emergence of institutions.
Module 3: Exploration of informal institutions, cultural frameworks (Hofstede, Trompenaars).
Module 4: National trade theories, case studies (Bluee, US electric vehicle industry).
Module 5: Focus on multinational firms, current trends, and sustainability.

Global business has roots tracing back centuries, but the term "globalization" gained popularity in the 1990s.
Economic globalization encompasses goods, services, capital, and technology across borders.

International Trade: Involves the exchange of goods/services across borders; crucial aspects include importing and exporting.
International Investments: Refers to capital movement across borders, with Foreign Direct Investment (FDI) involving direct company ownership.

Challenges historically included logistical complexities, cultural language barriers, and fluctuating exchange rates, which have evolved with advances in technology and globalization efforts.

Economic globalization encompasses the rise of multinational corporations and frameworks like the WTO, which governs international trade.
Despite advancements, historical challenges remain significant as global business continues to evolve in the modern world.