Global business consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations. It is an extension of domestic business, which includes the transactions of economic resources such as goods, capital and services comprising of technology, skilled labour, transportation etc. It includes not only international trade of goods and services, but also foreign investment.
Global Business has gained wide popularity, because of the growing rate of multinational enterprises. During the last-three decades, the field of modern International business began to develop. Today, it has become a separate field of study in the management courses.