International Business

Study Notes

IU can be defined as regular transactions with foreign economic entities.
Different types of IU include subsidiaries, exports, and partnerships with foreign companies.
Characteristics that distinguish different IU include market processing, number and diversity of countries and products, integration and localization, and importance to overall business.
Key management issues for IU include handling internal and external complexity, coordinating interdependent activities, and managing information and communication across distances.
Controlling can be used as a management tool to address these issues through planning, controlling, and monitoring.
Planning is a specific, anticipatory, abstract, and systematic decision-making process in IU.
Plans can be differentiated by object areas (e.g. whole company, specific countries) and content categories (e.g. principle, goal, action, resource planning).
Planning functions include providing guidelines, direction, and resources for IU activities.
Controlling as a planning tool can help IU manage complexity, coordinate activities, and monitor progress towards goals.
Effective controlling in IU requires a systematic and professional approach to planning and decision-making.