What is the definition of international business?

International business is best defined as all commercial transactions that take place between individuals or organizations in two or more countries. This encompasses a wide range of activities, including trade in goods and services, investment, and the transfer of technology and knowledge across borders. The essence of international business lies in its cross-border nature, which differentiates it from domestic business activities that occur within a single country.

This definition captures the complexity and scope of international business by recognizing the interactions that occur between various countries, thus facilitating understanding of global trade dynamics, multi-national corporations, and the factors influencing international market entry and operations. Engaging in international business requires an awareness of diverse legal, cultural, and economic environments, which are pivotal for successful transactions across different countries.