As global citizens and business leaders are able to have an influence on the economy of the world. Your actions, as well as the actions of your colleagues global business and crossborder entrepreneurship in the garage or in a boardroom, shape the future of the economy and businesses globally. No field showcases this potential more than global business which encompasses the risks and opportunities of companies that operate across borders.

A global corporation has a presence in a variety of countries through direct sales as well as subsidiaries or joint ventures and exports to international markets. It also adjusts its products and services to fit the culture of a given market. Moreover, it may be aware of the laws or policies, as well as practices of different countries that impact its ability to do business there.

A business must be knowledgeable about the economics of each country. This is in addition to the political and legal aspects of business. It is important to understand how to use data to study the economics of a country as well as its competitiveness and growth opportunities.

Building trust with local customers is essential to an effective expansion into a new marketplace. It is vital to establish an presence in the local market. This means having a physical office or store, hiring locals and developing relationships with local partners and suppliers. Businesses that have a local presence have a better grasp of the local culture and business practices. This helps them come up with strategies to connect with their customers.