What is the primary goal of global business?

The primary goal of global business is to create value by operating in international markets. This approach allows companies to tap into new customer bases, access resources, and enhance their competitiveness on a global scale. By expanding operations beyond domestic borders, businesses can leverage various advantages such as economies of scale, diverse talent pools, and the ability to innovate more effectively through exposure to different markets and cultures.

Operating in international markets also enables companies to diversify their risks, reduce dependence on a single market, and adapt their products or services to meet the varying needs of consumers around the world. Through strategic investments and operations globally, businesses not only enhance their growth potential but also contribute to economic development in the regions they engage with.

The other options do not align with the comprehensive and strategic nature of global business goals. Dominating domestic markets may provide short-term success but does not encompass the expansive objectives that global business aims to achieve. Likewise, expanding local businesses globally, while beneficial, is a tactic rather than the overarching goal. Finally, increasing competition among countries could be a side effect of globalization, but it is neither an objective nor a strategy that businesses actively pursue. Instead, the focus is on value creation and sustainable growth through global operations.