HOW DOES INTERNATIONAL BUSINESS FIT IN? Globalization enables us to get more variety, better quality or lower prices. Our daily meals contain spices that aren't grown domestically and fresh produce that's out of season in one local climate or another. Our cars cost less than they would if all the parts were made and the labor performed in one place. All of these connections between supplies and markets result from the activities of international business, defined as all commercial transactions, including sales, investments, and transportation, that take place between two or more countries. Private companies undertake such transactions for profit governments may undertake them either for profit or for other reasons. The Study of International Business Why should you study international business? Simply, it makes up a large and growing portion of the world's business. Global events and competition affect almost all companies, large and small, regardless of industry. They sell output and secure supplies and resources abroad, and they compete against products, services, and companies from foreign countries. Thus, most managers need to take into account