International business strategy refers to plans that guide commercial transactions taking place between entities in different countries.
[citation needed][1][2] Typically, the phrase "international business strategy" refers to the plans and actions of companies (public or private) rather than of governments; as such, the goal of such a strategy involves increased profit.
Because methods of transacting commercial operations vary appreciably in different countries, an understanding of cultural and linguistic barriers, political and legal systems, and the many complexities of international trade is essential to commercial success.
[citation needed] As historically developing countries become increasingly prominent, new markets open up and new sources of goods become available,[3][page needed] making it increasingly important even for long-established firms to have a viable international business strategy.
with the use of international management consulting firms such as Oliver Wyman, Roland Berger, Amritt, or the Everest Group.