International Business and Trade Overview

International Business refers to any firm engaged in both international ______ and investment.

International Trade occurs when firms export or import goods or services to and from countries other than their ______.

There's a Trade Surplus in countries where export activities are higher than ______ activities.

Free Trade allows unrestricted export and import of goods from one country to other ______.

Outsourcing is the practice of hiring or contracting services of another company to perform part of the firm's ______ operations.

Entrepreneurship involves the recognition of opportunities such as needs, wants, problems, and challenges to create and develop products to take advantage of those ______.

Intrapreneurship is a form of entrepreneurship that occurs within a business that is already ______ existence.

An Intrapreneur is an employee of a firm who uses entrepreneurial skills to create and develop innovative products for the ______.

SWOT Analysis is a tool that helps a company evaluate its internal characteristics and external ______.

Strategic Management is the field of knowledge that addresses questions regarding the development and implementation of effective business ______.