Levels of business Expansion

Question 1

Domestic business

Answer 1

Operates within one country. Generally a small business buying and selling in the local/ national market only.

Question 2

International Business

Answer 2

Based in one country but imports from/exports to other countries-obtaining resources/revenue.

Question 3

Multinational Business

Answer 3

Headquarters in country of origin but has expanded with subsidiaries/assembly/production facilities in several countries and regions of the world.

Question 4

Transnational Business

Answer 4

Decentralised approach where decision making, R&D and marketing powers are given to each of several individuals foreign and independently operated centres around the world.

Question 5

Global Business

Answer 5

Worldwide operations that does not identify any home country. Operates and facilitates activities in many countries around the world through the use of the same coordinated brand in all markets.

Question 6

Domestic Markets

Answer 6

The supply of/demand for goods and services within a single country-referred to as internal market.

Question 7

Global Markets

Answer 7

The process of extending manufacturing/ trade operations to other parts of the world beyond the origin country of a business.