Globalization is considered the process or the free movement of goods, services and people across the world in a flawless and integrated manner. This is primarily done by opening up the global economy and the concomitant increase in trade among the nations. It involves the world’s economies working together to provide and produce goods and services. Therefore, this paper will examine the domestic and international business environments, there example, the benefits of global expansion for domestic business and the role of ethics in making business decisions.Firstly, domestic business or internal business is economic transactions inside a geographical boundary of a particular state. In this form of business, the buyer and the seller belong to the same country. Additionally, the nature of the customer is of greater homogeneity. Also, it deals with the same currency, and this is because the seller and the buyer belong to the same country, for example, a business that is organized in a country and is being conducted within that country. On the other hand, international business involves transactions outside the geographical boundaries of a state where the buyer and the seller do not belong to the same nation. The customer in this business is heterogeneous. This business deals with different currencies since the buyer and the seller come from other countries. Exports and imports are good examples of international business. Therefore, the difference between international and domestic business shows that a company does both to grow and survive in the market because these forms of business have their advantages. Thus, for an organization to succeed in these markets, it must strategize accordingly.Secondly, domestic organizations are the companies that conduct their affairs in their home state. It is often compared to a foreign organization which works business in a nation apart from the which it originated. These organizations are authorized by the government through registration with the relevant government ministry, for example, the ministries of trade. In this organization, businesses can choose where to carry it to become an official organization. The owners typically examine all the possibilities and decide which jurisdiction is most beneficial and suitable for their business. They also look at the different legislation to determine which jurisdiction offers the best company-friendly tax. International organizations are the intergovernmental organizations that carry trade that include members from more than one nation. It benefits both states and enterprises and concentrates mainly on economic gain. Here, when the market is universal, more free trade flow and more financial resources for market growth, infrastructure research and development. Model laws guide international trade, conventions and treaties to drive the trade. Their goal is to open borders, carry out stock exchanges and reduce trade barriers worldwide. International trade is the World Trade Organization (WTO) and the International Monitory Fund.International and global expansion has an impact on the domestic business. International development leads to new markets. When a particular company has become successful in its country, it opens ways to take business abroad. Accession to new markets leads to a business building new customers. Opening borders provides businesses with access to more untapped markets. For example, a company that expands into the USA has access to many more countries through open borders. Increased business growth is one of the most significant advantages of international expansion. Opening the borders allows faster business growth because new audiences experience one’s product ad services. Another advantage is that the business will stay ahead of the competition. the expansion enables the access to new customers and visibility that other competitors might notIt also allows one to get out of saturated markets and be one step ahead of the competitors. In addition, international talent is a huge advantage which helps one o be relevant in the market and maintain good cultural practices.In business, ethics play a crucial role in expansion and decision making. Ethics are rights of moral standards and wrong conduct in business. They enhance the law by outlining behaviours beyond government control. Organizations develop business ethics to promote integrity and trust among the employees and the stakeholders. Thus, employees can make good decisions in the least time with ethics as a guide, increasing productivity and employee morale. Additionally, if the employee is allowed to make decisions for themselves thus, the expansion is achieved.In conclusion, globalization allows free movement of goods and services, leading to economic growth. The domestic and international business provides a sense of development to the nations involved. Domestic trade is carried out within the boundary of a specific state, while international business is curried outside the geographical boundaries. In expansion, there are benefits like getting out of saturated markets and global markets.
ReferencesHe, G., Marginson, D.,
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