International business refers to commercial transactions and economic activities that occur between companies and organizations located in different countries or regions. It involves cross-border trade, investment, and exchange of goods, services, technology, and information across national borders.

Key features of international business include:

1. 1. 1. **Global Market Expansion**: International business allows companies to expand their markets beyond their domestic borders, reaching new customers and tapping into international demand.
      2. **Import and Export**: Companies engaged in international business often import raw materials, components, or finished products from other countries and export their goods or services to foreign markets.
      3. **Foreign Direct Investment (FDI)**: International business involves direct investments by companies in foreign countries, such as establishing subsidiaries, joint ventures, or wholly-owned operations abroad.
      4. **Cultural and Legal Differences**: International business operations require understanding and navigating different cultural norms, business practices, and legal systems in each country.
      5. **Currency Exchange and Risk Management**: Dealing with multiple currencies introduces foreign exchange risk, which businesses need to manage effectively to mitigate financial losses.
      6. **Global Supply Chains**: Companies in international business often rely on complex global supply chains to source materials, manufacture products, and distribute them worldwide.
      7. **Global Competition**: Companies face competition not only from local rivals but also from international competitors in foreign markets.
      8. **Government Regulations and Trade Barriers**: Businesses must comply with various government regulations and trade barriers imposed by different countries.
      9. **Global Business Strategies**: International business requires companies to develop global business strategies to adapt to diverse markets and competitive landscapes.
      10. **Global Alliances and Partnerships**: Companies may form strategic alliances or partnerships with foreign companies to access their expertise, distribution networks, or technology.

International business offers numerous opportunities for growth and diversification, but it also presents challenges and risks due to the complexities of operating in diverse and dynamic global markets. Businesses engaging in international trade and investment must be well-informed about global economic trends, international trade policies, geopolitical factors, and cultural nuances to succeed in the global arena.