Global Business 101

by | Jun 5, 2024 | Article

The old saying abounds “it’s a small planet.” This is true for your ability to access information from all over the world as well as your connections to important decision makers and leaders from all over our planet. And this is never more apparent than in the global business, a term that covers any company or organisation that conducts business outside its home country.

As the complexities of global commerce and trade become more complex, companies both small and large must take steps to ensure that they are prepared to face these new problems. This includes understanding the nuances of international business and being able global business ideas in entrepreneurship to work effectively with colleagues and partners in other countries.

The undergraduate Journal of Global Business and Trade (JGBT) is a journal that publishes research papers report, essays, and other articles that are relevant to the world of global business. JGBT is also an official journal of the Consortium for Undergraduate International Business Education (CUIBE).

If you’re a business owner who is thinking of going global or need to ensure your team is ready for the future, it’s crucial to know the ways that cultural differences can affect your business’s performance abroad. It is important to learn the customs, holidays, and social norms that are prevalent in the different cultures that you will encounter when conducting global business. This is a great way of increasing your “export intelligence.” It’s also important to be able to communicate with business partners from other countries. For instance diverse cultures have different standards for personal space and greetings.