International Business: Meaning, Types of International Business, Advantage and Challenges of International Business.
Theoretical framework of Business Environment:
Concept, Elements of Environment – Internal and External; Globalization –International, Multinational, Global and Transnational; Changing dimensions of business environment, Drivers of Globalization

Economic environment of business:
Elements of Economic Environment, Economic Systems and Business Environment, International Trade Theories – Mercantilism, Absolute Advantage, Comparative Cost, Heckscher-Ohlin, Product Life Cycle Theory
Indicators of Economic Wealth – GNP, GDP, CPI

Political & Legal environment of business: Political Systems, Factors contributing to Political Risks, Legal Systems, Legal Issues relating to IB – Protection of Intellectual Property, Regulation related to product, Product liability and safety, Bribes and Corruption, Shipping of goods, Environmental laws;
Legal environment in India – FEMA, Competition Act, 2002, Custom Act.

Technological environment:
Meaning of Technology, Innovation, Technology and economic development, Impact of Technology on Globalization, E-Commerce, Influence of Internet, Information Technology; Technology Transfer. Channel of Technology Flow, Issue in transfer of technology.

Socio-Cultural environment:
Basic elements of socio-cultural environment – language, religion, culture, attitude, education, habits, family; Impact of Socio-Cultural environment on business, Cultural Traits, Cultural Stereotypes. Culture v/s Organizational Behavior