Leizelle Dawn Z.

Bitangcor 01-28-23
BSA - 3 MNGT - 7

1. Why is an understanding of strategic management important in the context of

international business?

- Since there are a lot of competitors in the world of business, every company
needs to think of strategies that will make them different from the other business.
And by that, they must have enough information in order for them to create a plan
or strategy that will enhance and develop their product and gain more profits. It
will not just give the company income but also improve their performance in
making a good strategy.

2. Why is an understanding of entrepreneurship important in the context of international

business?

- It is important because the world is everchanging the business/company must

cope with the advanced technology, when you are able to compete with other
businesses, you create opportunities for the business. It will give us an idea of
how to improve and innovate our products and strategies that is in line with the
business.

3. Why is stakeholder analysis important in international business?

- Stakeholders are those people who have an interest in the business. The
stakeholder analysis is important for us to know whether those people are willing
to help the company for its greater good. It will help the company assess and
determine if they have a significant influence in achieving the success of the
business.

4. What is the difference between an exporter and an importer?

- According to the book, an exporter sells products and services that are sourced
from other countries while an import sells products and services in foreign
countries that are sourced from its home country. These two forms of
international business can help the economy grow especially when there are a lot
of exports happening in our country.

5. What is a location advantage?

- Location is one of the most important things to consider in doing business since
you have a lot to consider. One of them is access to the suppliers if they are
available in your area. Another thing is the customer and other resources. It will
be a great help for a company if they have easy access to their resources and
materials to avoid large costs.