International Business

• 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.

Challenge your knowledge of International Business with this quiz! Test your understanding of IU, including types, characteristics, management issues, and planning functions. Learn how controlling can be used as a management tool to address complex issues and coordinate interdependent activities across distances. Improve your understanding of systematic and professional approaches to planning and decision-making in IU. Keywords: International Business, IU, planning, controlling, management, complexity.