Advanced International Business: A Review Article

The global economy's downturn was slower than previously regarding world economic growth, trade tensions, monetary policy tightening, and the crisis from the COVID-19 outbreak. Such negative factors affect the export, tourism industries, and all sectors lead to a fall in consumer trust. All businesses must control their business model and adapt to shifts in political, economic, management, cultural factors, evolving customer preferences, and technological innovation as its competitive advantage in local and global businesses. The political will impact both risks and opportunities to the global economy. A threat is such a tariff that blocks the purchase. The economic downturn harms corporate practices regarding diminished buying power and low wages and implications for a decision to grow a global business. Different cultures, languages, ethnicities, religions, national work systems, values, and standards affect global business expansion. Many companies require attention from all participants, not only for organizational culture-employee behaviors but also for customers and stakeholder satisfaction regarding its management. Therefore, the effect of all participants on its operation, both local and global businesses. This review article focuses on the worldwide economy, globalization, and the global market.