Rapid growth in international trade and the activities of the multinational enterprises, especially after the growing acceptance of liberal economic policies in recent decades, have added ample flavour to the subject of international business. The fundamental concepts and modalities have undergone a sea change. At the same time, complexities have emerged in view of disparate environment economic, political, legal, socio-cultural and financial among different regions of the globe. It is because of this vast coverage and complexities that the international business strategies have turned complex and multi-dimensional. This revised second edition aims at explaining the fundamental concepts, heterogeneous environment and multi-faceted strategies in the area of international business. It unravels the intricacies and presents them in a lucid way to enable the readers understand the subject better. It also incorporates, inter alia, discussion on the rationale and modalities of control of activities of MNCs and on the international business ethics, besides updating the facts and figures.