How can the finance function of an international business improve the
firm?s competitive position in the global marketplace

There are several ways:
* lowering cost of capital via a finance subsidiary, as Ford Credit
and other capital goods companies have done
* by borrowing in a market with low interest rates to finance sales in
a higher-cost market

Best regards,

Omnivorous-GA

by handling foreign currency matters:  financing foreign operations
optimally; hedging receivables, etc.