What opportunity does international business provide?

International business provides access to advanced technology, which is crucial for companies looking to remain competitive on a global scale. In the context of a global marketplace, businesses can tap into the latest innovations and technological advancements developed in different countries. This access allows companies to enhance their operational efficiency, improve product quality, and innovate new offerings that meet the diverse needs of consumers around the world.

Moreover, being part of an international landscape encourages sharing of ideas and practices, stimulating further technological development and adaptation across various markets. Companies can leverage cutting-edge technologies that might not be available in their home countries, thus enabling them to offer more competitive products and services globally.

This opportunity is significant in contrast to the other options. Access to advanced technology can lead to greater productivity and lower costs in the long run, whereas reduced access to technology and higher costs of production can hinder a company’s growth and profitability. Additionally, smaller markets for products would limit a business’s potential customer base, reducing revenue opportunities.