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BUS 330: International Business: Home

BUS 330: International Business

This course is designed to educate the student about the international environment of business. The course highlights the importance of international business by providing an overview about country factors, global trade and investment, global monetary systems and entry strategies and strategic alliances.

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Industry Codes

NAICS

The North American Industry Classification System is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.

SIC

Standard Industrial Classification is a system for classifying industries by a four digit code.

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PESTEL Analysis

Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and deregulation trends.

Economic factors include current and projected economic growth; inflation and interest rates; job growth and unemployment; labor costs; impact of globalization; disposable income of consumers and businesses; likely changes in the economic environment.

Social factors include demographics (age, gender, race, family size); consumer attitudes, opinions, and buying patterns; population growth rate and employment patterns; socio-cultural changes; ethnic and religious trends; living standards.

Technological factors affect marketing in (1) new ways of producing goods and services; (2) new ways of distributing goods and services; (3) new ways of communicating with target markets.

Environmental factors are important due to the increasing scarcity of raw materials; pollution targets; doing business as an ethical and sustainable company; carbon footprint targets.

Legal factors include health and safety; equal opportunities; advertising standards; consumer rights and laws; product labeling and product safety.

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Key Search Terms

  • Profitability
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    • Market saturation rate
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    • PESTEL
  • Marketing research report
  • Opportunities
  • Shortcomings