International business is a term used to collectively describe topics relating to the operations of firms with interests in multiple countries. Such firms are sometimes called multinational corporations (MNCs). Well known MNCs include fast food companies McDonald's, vehicle manufacturers such as General Motors and Toyota, consumer electronics companies like LG and Sony, and energy companies such as ExxonMobil and BP. Most of the largest corporations operate in multiple national markets. Increased global competition encourages allocative and productive efficiency.
There are a number of benefits the citizens and firms of a country may enjoy as a result of the existence of MNCs.
• The benefits of specialization
• The benefits of competition
• The benefit of choice
In the traditional world of regions and nation states, information, people, goods, and investment are mobile only to the extent that they are subject to the tyranny of national barriers and geographical......

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Title: International Business And The Future
Approximate Word Count: 2200
Approximate Pages: 9 (250 words per double-spaced page)

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