International business is the study of business transactions that cross national boundaries. It includes the study of international trade in tangible and intangible goods and commodities; the study of banking, insurance, marketing and other international service transactions; and the analysis of direct and portfolio investments made outside the domestic market. Transactions of both private and public entities are studied with a special focus on the operations of multinational corporations.

International business involves all functional business areas and explores how these functions are impacted by expanding beyond the national area. Particular emphasis is placed on the challenges presented by different socio-cultural, political and economic environments.