INTERNATIONAL BUSINESS MANAGEMENT CHALLENGES AND ISSUES UNDER FOREIGN LAWS AND REGULATIONS: A STUDY BASED ON THE SOUTH ASIA REGION

Author Name: P.K.B. IsuruPremarathna

Volume: 01 &  Issue:

Country: Sri Lanka

DOI NO.: 08.2020-25662434 DOI Link: http://www.doi-ds.org/doilink/12.2020-75945471/

Affiliation:

1. University of Kelaniya, Sri Lanka

ABSTRACT

International management is the management of business operations in an organization serving markets and operating in more than one country. This definition stresses the need for a much more advanced set of skills than managing within national borders. International business refers to the trade of goods, services, technology, capital, and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people for of the international production of physical goods and services such as finance, banking, insurance, and construction. International business is also known as globalization. The South Asia region is very important in the business sector. At the same time, the Region occupies a significant area of the international economy. The main focus of this research was to study the challenges, foreign laws, and regulation issues in the south Asia region in the international business arena. The main objective of the research is to study the current challenges in international business and the problems under foreign laws and regulations.The Research methodology is qualitative research. Secondary data were collected through literature review and referring sources such as statutes, international treaties, academic writings, journal articles and sources. according to the research, some several major challenges and issues can be identified in the south Asian region, namely the International company structure, Foreign laws and regulations, International accounting, Currency rates, Choosing the right global shipment methods, Communication difficulties and cultural differences, Political risks, Cost calculation and global pricing strategy, Supply chain complexity and risks of Labour exploitation and Worldwide environmental issues. Furthermore, it can be seen that there are economic, legal and political problems and challenges for international business activities in the south Asia region today.

Key words: International Business Management, challenges and issues, foreign laws and regulations, South Asia Region