The International Business of Sabic Multinational Organisation

International business encompasses every commercial transaction between parties of two or more nations. The parties can range from private organizations to government entities. In international business, any kind of global measures and competitions have an impact on the trade of almost every organization, irrespective of their size. The international business environment is quite complex and diverse than the domestic business environment. This international business is influenced by the process of globalization. Globalization denotes the on-going social economic and political procedures that inflate the relationship and encompass the interdependencies among people and organizations of various nations (Rugman &amp. Collinson, 2012).
The era of globalization has brought about a rapid increase in the level of international trade and financial integration. There have also been changes in the configuration of trade and product flows. The forces of globalization are intense and they are impacting the business activities of organizations. The initiations of information and communication technology (ICT) and quick economic liberalization of business and investment in several nations have augmented the procedure of globalization. The present market is swamped with not only industrial commodities but also with the items of regular consumption. Every day an average individual utilizes such products and services which are from different origins. The increased integration of market, mobility of people with international travel for employment along with internet penetration has virtually transformed the international business.
One prevalent example of globalization and its impact on international business can be observed from a Saudi Arabian multinational organization namely SABIC. SABIC is a chemical producer who specializes in manufacturing a variety of chemicals, polymers, and fertilizers among others.