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International Business

by ; ;
Edition:
3rd
ISBN13:

9780131432758

ISBN10:
0131432753
Format:
Paperback
Pub. Date:
1/1/2006
Publisher(s):
Prentice Hall

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Summary

Lively, topical, and accessible, this text is written integrating culture early and often to allow all students to grasp difficult conceptual material. The inclusion of numerous interesting and diverse examples of the intersection of business and culture motivates students to read on and learn. International Business: The Challenges of Globalizationis the fastest growing international business book available today.It presents international business in a comprehensive, yet concise framework. Recent, real-world examples and engaging feature boxes really do bring the concepts of international business to life for readers. User feedback reveals that the reason this book is so popular is that it offers a fresh approach to international business that responds to the readers'requests and needs. A main goal in this third edition is to continue the progress made in the previous twodelivering the most readable, current, and concise international business book on the market.A must-read for anyone involved in International Business.

Table of Contents

Preface xiii
About the Authors xxiv
part one Global Business Environment
2(46)
Globalization
2(46)
Breaking Views: The E-Biz Surprise
5(1)
Globalization
6(4)
Globalization of Markets
7(1)
Globalization of Production
8(1)
Global Manager's Toolbox: The Keys to International Success
9(1)
Forces Driving Globalization
10(5)
Falling Barriers to Trade and Investment
10(2)
Technological Innovation
12(1)
Measuring Globalization
13(2)
Untangling the Globalization Debate
15(12)
Today's Globalization in Context
15(1)
The Current Globalization Backlash
16(1)
Global Challenges: Investing In Security Pays Dividends
17(1)
Globalization's Impact on Jobs and Wages
18(3)
Globalization's Impact on Labor and Environmental Regulation
21(1)
Globalization and Income Inequality
22(3)
Globalization and National Sovereignty
25(1)
Globalization's Influence on Cultures
26(1)
Key Players in International Business
27(2)
Multinational Corporations
27(2)
Entrepreneurs and Small Businesses
29(1)
Why International Business is Special
29(3)
The Global Business Environment
29(1)
Entrepreneur's Survival Kit: Four Myths Keeping Small Businesses from Export Success
30(1)
The Road Ahead for International Business
31(1)
Bottom Line for Business
32(16)
Summary
34(1)
Talk It Over
35(1)
Teaming Up
35(1)
Key Terms
36(1)
Take It to the Web
36(1)
Ethical Challenges
36(2)
Practicing International Management Case: MTV: Going Global with a Local Beat
38(1)
Appendix: World Atlas
39(9)
part two National Business Environments
48(102)
Cross-Cultural Business
48(36)
What Is Culture?
50(3)
National Culture and Subcultures
51(2)
Components of Culture
53(21)
Aesthetics
53(1)
Entrepreneur's Survival Kit: Give Your Web Site a Local Feel
54(1)
Values and Attitudes
54(4)
Manners and Customs
58(1)
Global Manager's Toolbox: A Globetrotter's Guide to Manners
59(1)
Social Structure
60(2)
Religion
62(4)
Personal Communication
66(1)
Global Challenges: Speaking in Fewer Tongues
67(2)
Body Language
69(1)
Education
70(2)
Physical and Material Environments
72(1)
Breaking Views: Crossing the Digital Divide
73(1)
Classifying Cultures
74(4)
Kluckhohn--Strodtbeck Framework
74(1)
Hofstede Framework
75(3)
Bottom Line for Business
78(6)
Summary
79(1)
Talk It Over
80(1)
Teaming Up
81(1)
Key Terms
81(1)
Take It to the Web
81(1)
Ethical Challenges
82(1)
Practicing International Management Case: Modernization or Westernization? You Make the Call
83(1)
Politics and Law in Business
84(36)
Political Systems
86(8)
Politics and Culture
86(1)
Political Participation
87(1)
Political Ideologies
87(5)
Global Challenges: From Civil War to Civil Society
92(1)
Political Systems in Times of Change
93(1)
Political Risk
94(7)
Types of Political Risk
95(2)
Global Manager's Toolbox: Your Global Security Checklist
97(2)
Managing Political Risk
99(2)
Legal Systems
101(3)
Breaking Views: Governments Take the `E-nitiative'
102(1)
Types of Legal Systems
103(1)
Global Legal and Ethical Issues
104(8)
Standardization
104(1)
Intellectual Property
104(3)
Product Safety and Liability
107(1)
Taxation
108(1)
Antitrust Regulations
108(1)
Entrepreneur's Survival Kit: The Long Arm of the Law
109(1)
Ethics and Social Responsibility
110(2)
Business and International Relations
112(2)
The United Nations
112(2)
Bottom Line for Business
114(6)
Summary
115(1)
Talk It Over
116(1)
Teaming Up
117(1)
Key Terms
117(1)
Take It to the Web
117(1)
Ethical Challenges
118(1)
Practicing International Management Case: Caveat Emptor: Who Said Latin Was Dead?
119(1)
Economic Systems and Development
120(30)
Economic Systems
122(10)
Centrally Planned Economy
123(3)
Global Manager's Toolbox: Guidelines for Good Guanxi
126(1)
Mixed Economy
127(1)
Market Economy
128(4)
Development of Nations
132(8)
Breaking Views: IT Matters to Productivity
133(1)
National Production
133(3)
Purchasing Power Parity
136(1)
Human Development
137(1)
Classifying Countries
138(1)
Global Challenges: Public Health Goes Global
139(1)
Economic Transition
140(4)
Obstacles to Transition
140(2)
Focus on Russia
142(1)
Entrepreneur's Survival Kit: The Rules of the Game
143(1)
Bottom Line for Business
144(6)
Summary
146(1)
Talk It Over
147(1)
Teaming Up
147(1)
Key Terms
147(1)
Take It to the Web
148(1)
Ethical Challenges
148(1)
Practicing International Management Case: Talkin 'Bout a Revolution
149(1)
part three International Trade and Investment
150(108)
International Trade
150(26)
Overview of International Trade
152(6)
Benefits of International Trade
153(1)
Volume of International Trade
153(1)
International Trade Patterns
153(3)
Global Manager's Toolbox: Building Good Relations in the Pacific Rim
156(1)
Trade Dependence and Independence
157(1)
Theories of International Trade
158(13)
Mercantilism
158(2)
Absolute Advantage
160(2)
Comparative Advantage
162(2)
Factor Proportions Theory
164(1)
International Product Life Cycle
165(2)
Entrepreneur's Survival Kit: Five Common Fulfillment Mistakes
167(1)
New Trade Theory
167(1)
National Competitive Advantage
168(3)
Bottom Line for Business
171(5)
Summary
172(1)
Talk It Over
173(1)
Teaming Up
173(1)
Key Terms
173(1)
Take It to the Web
174(1)
Ethical Challenges
174(1)
Practicing International Management Case: DHL Worldwide Express Is First in Asia and the World
175(1)
Business--Government Trade Relations
176(26)
Why Do Governments Intervene in Trade?
178(5)
Political Motives
178(2)
Economic Motives
180(2)
Cultural Motives
182(1)
Methods of Promoting Trade
183(4)
Subsidies
183(1)
Export Financing
184(1)
Entrepreneur's Survival Kit: Ex-Im Bank: Experts in Export Financing
185(1)
Foreign Trade Zones
185(1)
Special Government Agencies
186(1)
Global Manager's Toolbox: Surfing the Regulatory Seas
187(1)
Methods of Restricting Trade
187(5)
Tariffs
187(1)
Quotas
188(2)
Embargoes
190(1)
Local Content Requirements
191(1)
Administrative Delays
191(1)
Currency Controls
191(1)
Global Trading System
192(4)
General Agreement on Tariffs and Trade (GATT)
192(2)
World Trade Organization (WTO)
194(2)
Bottom Line for Business
196(6)
Summary
197(1)
Talk It Over
198(1)
Teaming Up
199(1)
Key Terms
199(1)
Take It to the Web
199(1)
Ethical Challenges
200(1)
Practicing International Management Case: Unfair Protection or Valid Defense?
201(1)
Foreign Direct Investment
202(26)
Patterns of Foreign Direct Investment
204(4)
Ups and Downs of Foreign Direct Investment
204(3)
Entrepreneur's Survival Kit: Cowboy Candy Rides into Manchuria
207(1)
Worldwide Flows of FDI
207(1)
Explanations for Foreign Direct Investment
208(2)
International Product Life Cycle
208(1)
Market Imperfections (Internalization)
209(1)
Eclectic Theory
209(1)
Market Power
210(1)
Management Issues in the FDI Decision
210(5)
Control
210(2)
Purchase-or-Build Decision
212(1)
Production Costs
212(1)
Global Manager's Toolbox: Investing Abroad? Be Prepared for Surprises
213(1)
Customer Knowledge
214(1)
Following Clients
214(1)
Following Rivals
215(1)
Government Intervention in Foreign Direct Investment
215(4)
Balance of Payments
216(1)
Reasons for Intervention by the Host Country
217(1)
Reasons for Intervention by the Home Country
218(1)
Government Policy Instruments and FDI
219(2)
Host Countries: Restriction
219(1)
Host Countries: Promotion
220(1)
Home Countries: Restriction
221(1)
Home Countries: Promotion
221(1)
Bottom Line for Business
221(7)
Summary
223(1)
Talk It Over
224(1)
Teaming Up
224(1)
Key Terms
225(1)
Take It to the Web
225(1)
Ethical Challenges
225(2)
Practicing International Management Case: Mercedes-Benz: Footloose in Tuscaloosa
227(1)
Regional Economic Integration
228(30)
What Is Regional Economic Integration?
230(2)
Levels of Regional Integration
230(2)
Effects of Regional Economic Integration
232(3)
Benefits of Regional Integration
232(1)
Drawbacks of Regional Integration
233(2)
Integration in Europe
235(6)
European Union
235(3)
Entrepreneur's Survival Kit: Czech List
238(2)
European Free Trade Association (EFTA)
240(1)
Integration in the Americas
241(7)
North American Free Trade Agreement (NAFTA)
241(2)
Andean Community
243(2)
Latin American Integration Association (ALADI)
245(1)
Southern Common Market (MERCOSUR)
245(1)
Central America and the Caribbean
245(1)
Free Trade Area of the Americas (FTAA)
246(1)
Transatlantic Economic Partnership (TEP)
247(1)
Integration in Asia
248(2)
Association of Southeast Asian Nations (ASEAN)
248(1)
Asia Pacific Economic Cooperation (APEC)
249(1)
Global Manager's Toolbox: The Ins and Outs of ASEAN
250(1)
Integration in the Middle East and Africa
250(2)
Gulf Cooperation Council (GCC)
251(1)
Economic Community of West African States (ECOWAS)
251(1)
Bottom Line for Business
252(6)
Summary
253(2)
Talk It Over
255(1)
Teaming Up
255(1)
Key Terms
255(1)
Take It to the Web
255(1)
Ethical Challenges
256(1)
Practicing International Management Case: Tainted Trade: Increasing Imports Brings Increase in Illness
257(1)
part four The International Financial System
258(58)
International Financial Markets
258(28)
International Capital Market
260(5)
Purposes of National Capital Markets
260(1)
Purposes of the International Capital Market
261(1)
Forces Expanding the International Capital Market
262(1)
Entrepreneur's Survival Kit: Where Microcredit Is Due
263(1)
World Financial Centers
263(2)
Main Components of the International Capital Market
265(2)
International Bond Market
265(1)
International Equity Market
266(1)
Eurocurrency Market
267(1)
Foreign Exchange Market
267(3)
Functions of the Foreign Exchange Market
268(2)
How the Foreign Exchange Market Works
270(5)
Quoting Currencies
270(3)
Spot Rates
273(1)
Forward Rates
274(1)
Swaps, Options, and Futures
275(1)
Foreign Exchange Market Today
275(4)
Trading Centers
276(1)
Important Currencies
276(1)
Institutions of the Foreign Exchange Market
277(1)
Global Manager's Toolbox: Five Strategies for More Effective Foreign Exchange Management
278(1)
Currency Convertibility
279(1)
Goals of Currency Restriction
279(1)
Policies for Restricting Currencies
279(1)
Bottom Line for Business
280(6)
Summary
281(1)
Talk It Over
282(1)
Teaming Up
282(1)
Key Terms
283(1)
Take It to the Web
283(1)
Ethical Challenges
284(1)
Practicing International Management Case: Argentina: Back from the Abyss?
285(1)
International Monetary System
286(30)
How Exchange Rates Influence Business Activities
288(3)
Desire for Stability and Predictability
289(1)
Global Manager's Toolbox: Exporting Against the Odds: Key Strategies for Success
290(1)
What Factors Determine Exchange Rates?
291(7)
Law of One Price
291(2)
Purchasing Power Parity
293(5)
Forecasting Exchange Rates
298(1)
Efficient Market View
298(1)
Inefficient Market View
298(1)
Forecasting Techniques
299(1)
Difficulties of Forecasting
299(1)
Evolution of the International Monetary System
299(10)
Early Years: The Gold Standard
300(1)
Bretton Woods Agreement
301(3)
A Managed Float System Emerges
304(1)
Today's Exchange-Rate Arrangements
304(1)
European Monetary System
305(1)
Recent Financial Crises
306(2)
Future of the International Monetary System
308(1)
Bottom Line for Business
309(7)
Summary
311(1)
Talk It Over
312(1)
Teaming Up
312(1)
Key Terms
313(1)
Take It to the Web
313(1)
Ethical Challenges
313(2)
Practicing International Management Case: Banking on Forgiveness
315(1)
part five International Business Management
316(151)
International Strategy and Organization
316(26)
International Strategy
318(12)
Strategy Formulation
318(1)
Identify Company Mission and Goals
318(2)
Identify Core Competency and Value-Creating Activities
320(2)
Entrepreneur's Survival Kit: Know Yourself, Know Your Product
322(1)
Formulate Strategies
323(6)
Global Manager's Toolbox: Competing with Giants
329(1)
International Organizational Structure
330(7)
Centralization versus Decentralization
330(1)
Coordination and Flexibility
331(1)
Types of Organizational Structure
332(3)
Work Teams
335(2)
A Final Word
337(5)
Summary
337(1)
Talk It Over
338(1)
Teaming Up
338(1)
Key Terms
339(1)
Take It to the Web
339(1)
Ethical Challenges
339(2)
Practicing International Management Case: The Global Strategy of IKEA
341(1)
Analyzing International Opportunities
342(28)
Screening Potential Markets and Sites
344(13)
Step 1: Identify Basic Appeal
345(1)
Step 2: Assess the National Business Environment
346(5)
Global Manager's Toolbox: Global E-Commerce Issues
351(1)
Step 3: Measure Market or Site Potential
351(5)
Step 4: Select the Market or Site
356(1)
Conducting International Research
357(8)
Difficulties of Conducting International Research
357(2)
Sources of Secondary International Data
359(3)
Methods of Conducting Primary International Research
362(1)
Entrepreneur's Survival Kit: Is the World Your Oyster?
363(2)
A Final Word
365(5)
Summary
365(1)
Talk It Over
366(1)
Teaming Up
366(1)
Key Terms
367(1)
Take It to the Web
367(1)
Ethical Challenges
367(2)
Practicing International Management Case: Vietnam's Emerging Market Potential
369(1)
Selecting and Managing Entry Modes
370(30)
Exporting, Importing, and Countertrade
372(10)
Why Companies Export
373(1)
Developing an Export Strategy: A Four-Step Model
373(1)
Degree of Export Involvement
374(2)
Avoiding Export and Import Blunders
376(1)
Countertrade
376(2)
Export/Import Financing
378(3)
Entrepreneur's Survival Kit: Global Collection Guidelines
381(1)
Contractual Entry Modes
382(5)
Licensing
382(1)
Franchising
383(2)
Management Contracts
385(1)
Turnkey Projects
386(1)
Investment Entry Modes
387(6)
Wholly Owned Subsidiaries
387(1)
Joint Ventures
388(3)
Strategic Alliances
391(1)
Selecting Partners for Cooperation
392(1)
Global Manager's Toolbox: Negotiating the Terms of Market Entry
392(1)
Strategic Factors in Selecting an Entry Mode
393(2)
Cultural Environment
393(1)
Political and Legal Environments
393(1)
Market Size
394(1)
Production and Shipping Costs
394(1)
International Experience
394(1)
A Final Word
395(5)
Summary
395(1)
Talk It Over
396(1)
Teaming Up
397(1)
Key Terms
397(1)
Take It to the Web
398(1)
Ethical Challenges
398(1)
Practicing International Management Case: Telecom Ventures Unite the World
399(1)
Developing and Marketing Products
400(24)
Globalization and Marketing
402(1)
Standardization Versus Adaptation
402(1)
Developing Product Strategies
403(5)
Laws and Regulations
404(1)
Cultural Differences
404(1)
Brand and Product Names
404(2)
National Image
406(1)
Counterfeit Goods and Black Markets
406(1)
Shortened Product Life Cycles
407(1)
Creating Promotional Strategies
408(6)
Push and Pull Strategies
408(1)
Global Manager's Toolbox: Managing an International Sales Force
409(1)
International Advertising
410(1)
Blending Product and Promotional Strategies
411(3)
Designing Distribution Strategies
414(3)
Designing Distribution Channels
415(1)
Influence of Product Characteristics
416(1)
Special Distribution Problems
416(1)
Developing Pricing Strategies
417(2)
Worldwide Pricing
417(1)
Dual Pricing
417(1)
Factors That Affect Pricing Decisions
418(1)
A Final Word
419(5)
Summary
420(1)
Talk It Over
421(1)
Teaming Up
421(1)
Key Terms
421(1)
Take It to the Web
421(1)
Ethical Challenges
422(1)
Practicing International Management Case: Fair Game or Out-of-Bounds? You Decide
423(1)
Managing International Operations
424(22)
Production Strategy
426(4)
Capacity Planning
426(1)
Facilities Location Planning
427(2)
Process Planning
429(1)
Facilities Layout Planning
430(1)
Acquiring Physical Resources
430(4)
Make-or-Buy Decision
430(3)
Raw Materials
433(1)
Fixed Assets
433(1)
Key Production Concerns
434(2)
Quality-Improvement Efforts
434(1)
Shipping and Inventory Costs
435(1)
Global Manager's Toolbox: Linking TQM and ISO 9000 Standards
435(1)
Reinvestment Versus Divestment
436(1)
Financing Business Operations
436(5)
Borrowing
437(1)
Issuing Equity
437(2)
Entrepreneur's Survival Kit: Get Global Cash: Overseas Investors Await You
439(1)
Internal Funding
439(1)
Capital Structure
440(1)
A Final Word
441(5)
Summary
442(1)
Talk It Over
443(1)
Teaming Up
443(1)
Key Terms
443(1)
Take It to the Web
444(1)
Ethical Challenges
444(1)
Practicing International Management Case: Toyota's Strategy for Production Efficiency
445(1)
Hiring and Managing Employees
446(21)
International Staffing Policy
449(3)
Ethnocentric Staffing
449(1)
Polycentric Staffing
450(1)
Entrepreneur's Survival Kit: Growing Global
451(1)
Geocentric Staffing
451(1)
Recruiting and Selecting Human Resources
452(4)
Human Resource Planning
452(1)
Recruiting Human Resources
452(1)
Selecting Human Resources
453(1)
Culture Shock
454(1)
Reverse Culture Shock
455(1)
Global Manager's Toolbox: A Shocking Ordeal
455(1)
Training and Development
456(2)
Methods of Cultural Training
456(2)
Compiling a Cultural Profile
458(1)
Nonmanagerial Worker Training
458(1)
Employee Compensation
458(2)
Managerial Employees
459(1)
Nonmanagerial Workers
459(1)
Labor-Management Relations
460(2)
Importance of Labor Unions
461(1)
A Final Word
462(5)
Summary
462(1)
Talk It Over
463(1)
Teaming Up
463(1)
Key Terms
464(1)
Take It to the Web
464(1)
Ethical Challenges
464(1)
Practicing International Management Case: Expatriation or Discrimination? You Make the Call
465(2)
Notes, Sources, and Credits 467(10)
Glossary 477(6)
Name/Company Index 483(4)
Subject Index 487


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