Contents

• Executive summary
Introduction to global business opportunities
• Major risks facing global business today
• Corruption & Global risk management
• Growing influence of outsourcing
• Managing cultural differences across borders
• Managing finance & currency risk
• Conclusion
• List of references 

Description

This essay critically analyses the various global risks faced by international organizations in the modern era. Some of the risks that have been closely looked at include political risk, terrorism, corruption, cultural differences and finance risk. An attempt has also been made to analyze the growing influence of outsourcing on the global business and how it is affecting the ways in which international business is conducted. This essay also makes an attempt to examine the ways and means of managing those risks. It also looks at the factors that have given rise to these risks and the measures the companies are following to mitigate them. After analyzing all of the relevant factors, the conclusion is drawn that there are numerous challenges being faced by global business today and the number is increasing every day. Companies are increasingly realizing the growing importance of global risk management and are taking it up as a separate managerial function. It is also being realized that global risk management faces the problem of allocation of resources and thus a prioritization process is required whereby more important risks are given the priority in the management process