SABIC Company , (international business) Essay Example | Topics and Well Written Essays - 1750 words

SABIC Company , (international business) - Essay Example al., 2012). From the history of international business, it can be learnt that international organisations have been in existence for centuries, but at present these organisations are characterised by explosive growth and close control of foreign business activities. They market the products and services in different ways than their predecessors did. Traditionally, the complex international business transactions were the domain of representatives, global policies and business specialists. Currently, a converging set of strong economic, social and cultural trends demand that every citizen has certain kind of international eloquence and that must be understood by organisations that operate international businesses (Hill, 2010). Based on this aspect, the report describes international business of one multinational organisation namely SABIC. ... The international business environment is quite complex and diverse than the domestic business environment. This international business is influenced by the process of globalisation. Globalisation denotes the on-going social economic and political procedures that inflate the relationship and encompass the interdependencies among people and organisations of various nations (Rugman & Collinson, 2012). The era of globalisation has brought about a rapid increase in the level of international trade and financial integration. There have also been changes in the configuration of trade and product flows. The forces of globalisation are intense and they are impacting the business activities of organisations. The initiations of information and communication technology (ICT) and quick economic liberalisation of business and investment in several nations have augmented the procedure of globalisation. Present market is swamped with not only industrial commodities but also with the items of regula r consumption. Every day an average individual utilises such products and services which are from different origins. The increased integration of market, mobility of people with international travel for employment along with internet penetration has virtually transformed the international business (Joshi, n.d.; Tayeb, 2000). Globalisation and International Business of SABIC One prevalent example of globalisation and its impact on international business can be observed from a Saudi Arabian multinational organisation namely SABIC. SABIC is a chemical producer which specialises in manufacturing a variety of chemicals, polymers and fertilisers among others. It was established in the year 1976 and since then the organisation has expanded the business considerably in