International Business

Cover......Page 1
Title Page......Page 3
Copyright......Page 4
Preface......Page 7
About the Authors......Page 15
Brief Contents......Page 17
Contents......Page 19
Map Contents......Page 24
PART 1 IMPACT......Page 25
Opening Vignette New Challenges for International Business Managers......Page 26
The Need for International Business......Page 28
A Definition of International Business......Page 29
A Brief History......Page 30
Global Links Today......Page 35
The Current U.S. International Trade Position......Page 40
The Structure of the Book......Page 42
INTERNET EXERCISES......Page 44
Take a Stand......Page 45
Appendix 1: Geographic Perspectives on International Business......Page 48
PART 2 FOUNDATIONS......Page 55
Opening Vignette The Global Economic Crisis and Lessons from the Depression......Page 56
Rationale and Goals of Trade and Investment Policies......Page 58
Global Trade Regulation since 1945......Page 59
Changes in the Global Policy Environment......Page 61
Policy Responses to Changing Conditions......Page 67
A Strategic Outlook for Trade and Investment Policies......Page 82
KEY TERMS......Page 84
Take a Stand......Page 85
Opening Vignette China, Trade, and the Global Recession......Page 86
The Age of Mercantilism......Page 88
Classical Trade Theory......Page 89
Factor Proportions Trade Theory......Page 96
International Investment and Product Cycle Theory......Page 101
The New Trade Theory: Strategic Trade......Page 104
The Theory of International Investment......Page 110
Summary......Page 114
INTERNET EXERCISES......Page 115
Take a Stand......Page 117
Learning Objectives......Page 118
Why Do Balance of Payments Problems Occur?......Page 119
Fundamentals of Balance of Payments Accounting......Page 120
The Accounts of the Balance of Payments......Page 122
The Balance of Payments in Total......Page 130
The Balance of Payments and Economic Crises......Page 133
Capital Mobility......Page 137
QUESTIONS FOR DISCUSSION......Page 141
Take a Stand......Page 142
Cases......Page 143
PART 3 ENVIRONMENT......Page 161
Learning Objectives......Page 162
Crossing Cultures: Balancing the Global with the Local......Page 163
Culture Defined......Page 164
The Elements of Culture......Page 168
Sources of Cultural Knowledge......Page 182
Cultural Analysis......Page 185
The Training Challenge......Page 189
Making Culture Work for Business Success......Page 191
Summary......Page 193
INTERNET EXERCISES......Page 194
Take a Stand......Page 195
Learning Objectives......Page 196
International Trade and Elephants......Page 197
The Home-Country Perspective......Page 198
Host-Country Political and Legal Environment......Page 207
International Relations and Laws......Page 218
KEY TERMS......Page 220
Take a Stand......Page 221
Learning Objectives......Page 222
Opening Vignette Global Capital Markets: Entering a New Era......Page 223
The Global Financial Marketplace......Page 224
The Market for Currencies......Page 225
Evolution of the Global Monetary System......Page 232
The Purpose of Exchange Rates......Page 236
Global Capital Markets......Page 238
The Financial Crisis of 2007–2009......Page 245
INTERNET EXERCISES......Page 255
Take a Stand......Page 257
Learning Objectives......Page 258
Opening Vignette Building Blocs toward Worldwide Free Trade......Page 259
Levels of Economic Integration......Page 262
Arguments Surrounding Economic Integration......Page 263
Regional Groupings......Page 266
Cartels and Commodity Price Agreements......Page 278
Emerging Markets......Page 281
Barriers to Business......Page 288
Transition Economies......Page 290
The Developing Markets......Page 291
Economic Integration and the International Manager......Page 295
Summary......Page 297
INTERNET EXERCISES......Page 298
Take a Stand......Page 299
Cases......Page 300
PART 4 STRATEGY......Page 325
Learning Objectives......Page 326
 The Changing Landscape of Global Markets......Page 327
Globalization......Page 329
The Strategic Planning Process......Page 335
Summary......Page 353
INTERNET EXERCISES......Page 354
Take a Stand......Page 355
Learning Objectives......Page 356
Ownership......Page 357
The Corporate Objective......Page 361
Corporate Governance......Page 366
Corporate Responsibility and Sustainability......Page 376
Take a Stand......Page 381
Learning Objectives......Page 382
 Organizing to Think Globally and Act Locally......Page 383
Organizational Structure......Page 385
Implementation......Page 396
Controls......Page 405
Summary......Page 411
INTERNET EXERCISES......Page 412
Take a Stand......Page 413
Learning Objectives......Page 414
Cool Merchandizing......Page 415
International and Domestic Research......Page 417
Recognizing the Need for International Research......Page 418
Determining Research Objectives......Page 419
Conducting Secondary Research......Page 421
Conducting Primary Research......Page 427
The International Information System......Page 432
Summary......Page 436
Take a Stand......Page 437
Appendix 12A: Monitors of International Issues......Page 439
Appendix 12B: The Structure of a Country Commercial Guide......Page 447
Learning Objectives......Page 450
An Accidental Exporter......Page 451
The Role of Management......Page 452
Motivations to Go Abroad......Page 454
Strategic Effects of Going International......Page 457
Entry and Development Strategies......Page 459
International Intermediaries......Page 460
Local Presence......Page 469
A Comprehensive View of International Expansion......Page 476
QUESTIONS FOR DISCUSSION......Page 477
Take a Stand......Page 478
Cases......Page 479
PART 5 OPERATIONS......Page 499
Learning Objectives......Page 500
Being a Good Sport Sponsorship......Page 501
Target Market Selection......Page 503
Marketing Management......Page 510
QUESTIONS FOR DISCUSSION......Page 538
Take a Stand......Page 539
Learning Objectives......Page 540
Global Labor Mobility Outsourcing and the Worker of the Future......Page 541
Differences between Services and Goods......Page 542
The Role of Services in the U.S. Economy......Page 546
The Role of Global Services in the World Economy......Page 548
Global Transformations in the Services Sector......Page 549
Problems in Service Trade......Page 550
Corporations and Services Trade......Page 552
KEY TERMS......Page 558
Take a Stand......Page 559
Learning Objectives......Page 560
Supply-Chain Management Logistics in China......Page 561
International Logistics Defined......Page 562
Supply-Chain Management......Page 563
The New Dimensions of International Logistics......Page 566
International Inventory Issues......Page 577
International Packaging Issues......Page 579
International Storage Issues......Page 581
Management of International Logistics......Page 584
The Supply Chain and the Internet......Page 586
Logistics and Security......Page 587
Logistics and the Environment......Page 589
KEY TERMS......Page 591
Take a Stand......Page 592
Learning Objectives......Page 594
When International Financial Management Dictates Strategy......Page 595
What Is the Goal of Management?......Page 596
Import-Export Trade Financing......Page 600
Multinational Investing......Page 602
International Cash Flow Management......Page 606
Foreign Exchange Exposure......Page 610
Countertrade......Page 616
International Taxation......Page 619
KEY TERMS......Page 622
Take a Stand......Page 623
Learning Objectives......Page 624
The New Global Executive\n......Page 625
Managing Managers......Page 627
Sources for Management Recruitment......Page 630
Managing Labor Personnel......Page 646
KEY TERMS......Page 653
Take a Stand......Page 654
Learning Objectives......Page 656
Bankers See Scrooge Alive in London......Page 657
The International Business Environment......Page 658
Globalization and Friction......Page 672
The Future of International Business Management......Page 674
Careers in International Business......Page 680
INTERNET EXERCISES......Page 687
Take a Stand......Page 688
Cases......Page 689
Notes......Page 707
Glossary......Page 725
Name Index......Page 745
Subject Index......Page 755