International Business In Dublin, Ireland Essay

2079 words - 9 pages

Have you ever wondered about Dublin, Ireland? Well, in this essay will inform you about the international business, global economy, economic factors, imports and exports, cultural and social factors, and why you should visit! International business is comprises all commercial transactions that take place between two or more regions, countries and nations, beyond their political boundaries. There is a difference between international and domestic trade. The difference is that international trade is quite big. It includes merchandise exports, trade in service, licensing and franchising, and foreign investments. International benefits both the nations and firms. Nations gain by earning foreign exchange, more efficient use of domestic resources, greater prospects of growth and creation of employment opportunities (Major difference between Domestic and International business). Firms have prospects for higher profit, greater utilization of production capacities, way out to intense competition in domestic market and improved business vision ( Major difference between Domestic and International business). A firm that desires to enter into International business has many different options. These range from importing and exporting to contract manufacturing abroad, licensing and franchising, joint ventures and setting up wholly owned subsidiaries. To establish business internationally firms have to complete many formalities. International business share their technology which will improve the mode and quality of their production. Ireland swings mostly towards international business. They swing toward international business because it has to do with the trade of goods and services. Dublin, Ireland does a lot of trade with many different countries. They also trade many goods, products, and services. With international business, operations in two or more nations result in huge benefits. With international business you don’t have as much intense competition like you have in domestic. With having international business, you have to have a good global economy. Global economy generally refers to the economy, which is based on economies of all of the world’s countries and national economies. In May of 2013 the Taoiseach and Tanaiste issued invitations to members of the Global Irish Network which consist of over 300 of the most influential irish and irish connected individuals, of which who have demonstrated a strong affiliation with Ireland and have a record of high achievement in international business or in assisting in the promotion of Ireland (The global Irish Network). The government is preparing the agenda and structure of this year’s forum. They have note down many specific suggestions made by Network members. The issue under discussion will focus on a small number of themes and Network members will play a central role in preparing for, and leading the work groups. The four areas under discussion for the...

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