Discuss at least five factors that have led to the increased growth in international business in recent decades? Which do you think has been most important and why? There are many factors that have been driving the growth of international business in recent decades 1. The first one is Technology and it is the most important factor among those five. Because technology has changed the way of businesses handling their transactions as well as developing the products. Technology helps the businesses to boost the product development faster than ever. It also helps the businesses connect to the distancing consumers easier and more efficient, as a result increase the sales to other markets. 2. The second factor is: Liberalization of cross-border trade and resource movements. Nowadays, numerous of governments have opened their door on the foreign market allowing their residents to approach a wide range of goods and services at lower prices. Increased competition from foreign companies also encourages domestic producers to become more efficient 3. The third factor is: The development of new services that facilitate international business transactions have also increased further driving globalization. In addition, today's consumers are more informed about foreign products and services and are better able to afford more luxury items. Moreover, more consumers are able to comparison shop to find better deals worldwide. Companies look for growing markets where consumer pressures are highest such as China 4 & 5. The fourth and fifth factor are: Changing in political situations and expanded cross-national cooperation. Because of the different in political situations vary from country to country, therefore, if a firm decide to expand business in foreign countries which have different economic systems from their domestic market, therefore adjustments often need to be made to take these differences into account