In the age of globalization, there are many opportunities for international business. Globalization can also be seen in markets, where trade barriers are falling and buyers’ preferences are changing. Similarly, a company can purchase goods and services readily from other countries in terms of production. In a world where industrial production has broadened beyond simple industrial production, a broader definition of international business might actually serve you better both personally and professionally.

A broad definition of international business simply describes the exchange of products, services, or resources between two or more countries. Beyond money for goods, the exchange can also involve international transfers of people, intellectual property, and contractual assets or liabilities.

An international business can involve the activities of large multinational companies with thousands of employees operating throughout the world or a small one-person firm acting as an exporter or importer. Besides for-profit cross-border transactions, international business can refer to nonfinancial transactions that cross borders to improve a business’s future.