Question

Discuss the importance of international business services to total U.S. export trade. How do most U.S. service companies become international? Please give some examples.? Please give as much as possible thanks!

Answer 1

Ans.

The international business consists of trade and transaction at global level. There is cross border transaction among two or more than two countries. International business services are very important in international trade. U.S is world's largest exporter of goods and services. It exports services such as energy services, financial services, information technology, insurance and telecommunications. It leads to enhancement of international trade technology, maintain cost competitiveness in U.S market , potential for business expansion. Increase global competition will rise wages in U.S, more jobs and employment. So international business services increase competition with other international companies as well as encourages investment. Thus export growth increase jobs be generating new business for U.S manufacturers, service providers and farmers.

The U.S Department of commerce's International Trade Administration is a key player that supports international trade and investment by enforcement of U.S trade laws and agreements. Global Market provide U.S companies with country- specific export promotion services. To make company international there is need to determine if services are best for global market place. Then companies enter foreign markets such as off shore production , importing and exporting. Then investigate the target markets and develop business plan like strategies to increase sales etc. Then with assistance of ITA and Small businesses Export Guide many U.S services companies become international. For example Worldwide Power Products in 2008 established power generation supply worldwide. It expanded into market as it discovered the growing demand for mining, oil and gas companies. The services providing companies in US that have gone global are like Starbucks, McDonald etc. These services distinguishe themselves in taste, quality and consumers experience. They have expanded there Market with new products globally. Boosting economy's growth.