Abstract

This chapter builds on the overview of European business (Chapter 2), and on international business theory as applied to the European region (Chapter 4). Those chapters describe and explain theoretically the unique nature of, and context for, business in Europe. This chapter examines a critical component of integration in the European Union (EU), the Single European Market (SEM), which represents the enactment of the EU’s economic goals. We review the processes by which the SEM was established, its objectives and how successful the EU has been in achieving those objectives. It provides an evaluation of the SEM’s impact on business and future areas for research on business in Europe. We explore what market integration means for EU business and set the scene for the analysis of European business in the world, and international business strategy.