The term international business is used to describe an organization with multicountry affiliates, each of which formulates its own business strategy based on perceived market differences.

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The term "multinational corporation" or "multinational enterprise" is more accurately used to describe an organization with multicountry affiliates, each formulating its own business strategy based on market differences. "International business" is a broader term that refers to all commercial transactions that take place between two or more countries.

The Term International Business Is Used to Describe an Organization