Explain and analyze the external factors on or of international business (e.g., political, legal, economics, culture, etc.) and how these may impact business.
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The laws of a particular nation directly influence businesses. Every country has laws, and companies have to abide by those laws. Nations that have laws that easily accept international goods and services from other regions make it easy for global businesses to operate on such tenets. Laws that are discriminatory in particular nations, such as lending agencies, wage rates affect the working policy of international business firms’ hence discouraging international business (Shaw, 2015). Better laws that encourage business in a particular country will give conducive room for global enterprises to flourish.
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