International business strategy

{{Short description|Plans that guide commercial transactions taking place between entities in different countries}}

International business strategy refers to plans that guide commercial transactions taking place between entities in different countries.{{cn|date=November 2020}}

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{{cite book

| last1 = Verbeke

| first1 = Alain

| title = International Business Strategy

| date = 7 March 2013

| url = https://books.google.com/books?id=uQpaAQAAQBAJ

| edition = 2

| publisher = Cambridge University Press

| publication-date = 2013

| page = 4

| isbn = 9781107027893

| access-date = 10 November 2020

| quote = Definition of international business strategy [:] International business strategy means effectively and efficiently matching an MNE's internal strengths (relative to competitors) with the opportunities and challenges found in geographically dispersed environments that cross international borders.

}}

{{cite news |last1=John |first1=Alex |title=Business Strategy Framework |url=https://flevy.com/business-strategy-frameworks |access-date=24 June 2023}} Typically, the phrase "international business strategy" refers to the plans and actions of companies (public or private) rather than of governments; as such, the goal of such a strategy involves increased profit.

Most companies of any appreciable size deal with at least one international partner at some point in their supply chain, and in most well-established commercial markets, competition operates internationally. Because methods of transacting commercial operations vary appreciably in different countries, an understanding of cultural and linguistic barriers, political and legal systems, and the many complexities of international trade is essential to commercial success.{{cn|date=November 2020}}

As historically developing countries become increasingly prominent, new markets open up and new sources of goods become available,{{cite web|url= http://www.amritt.com/International-Business-Strategy.html|title= International Business Strategy in India and China |accessdate= 1 May 2011}}{{pn|date=November 2020}} making it increasingly important even for long-established firms to have a viable international business strategy. This is often{{quantify|date=November 2020}} facilitated{{by whom?|date=November 2020}} with the use of international management consulting firms such as Oliver Wyman, Roland Berger, Amritt, or the Everest Group.{{cn|date=June 2017}}