Reference no: EM133166235

Summarize what the paragraphs speak about in an explanation?

Fundamental question: Why is Global business important?

Global business is important everywhere that certainly have to treat global economy like your life depends on it. Global business benefits from number of revenue and profits those customers can mainly get access of opportunities. Expansions in markets requires more management skills and development that are willing to take risk and open new opportunities.  It is important that global business managements know difference and similar regions ensuring the products of service are needed.  Global business in markets can potentially make a profit by managing different exposures of risk and how to handle them.

First Core Perspective: An Institution-Based View

Institution-Based View in the global requires knowledge in formal and informal rules that are dealt with competitions between multiple countries.  Formal institutions are focused on laws, regulations and rules. As to informal institutions, they are to mainly deal with cultures, ethics and norms.  The big part of informal are to mainly help with success and failure of the firms all around the globe.

References

Peng, M. (2012). Global Business. Dallas: Jindal Chair of Global Business Strategy.

Weedmark, D. (2020, March 30). Why Is Global Business Important? Retrieved from bizfluent: https://bizfluent.com/13356305/how-joint-ventures-limit-the-risk-of-international-business