International business

1 Challenges in International Business 1 Objectives 1. Opening Case 1. Today's World of Business 4. What is International Business? 7. Why Do Companies Go International? 10. The Participants in International Business 13. The Global Perspective of International Business -- 17. Why Study International Business? 19. Practical Tips 22. A Reverse Perspective Situation 24. Summary 26. Review and Discussion Questions 26. Endnotes 27. -- 2 TheCultureChallengeinInternationalBusiness 29-- Objectives 29. Opening Case 29. What Is Culture? 32. Culture and its Elements -- 36. The Study of Cultural Differences 48. Culture in the Workplace 51. Cross-cultural Management and Training 53. Practical Tips 55. Closing Case 58. Summary 59. Review and Discussion Questions 60. Endnotes 60. -- 3 Theories of International Trade and International Investment 63-- Objectives 63. Opening Challenge 63. International Trade in General and its Importance 66. Mercantilism 67. Adam Smith and the Theory of Absolute Advantage 69. David Ricardo and the Theory of Comparative Advantage 71. The Heckscher¿Ohlin (Factor Proportions) Model 73. Raymond Vernon and the Product Life Cycle Theory of Trade 76. Contemporary Trade Theories 80. Practical Tips 88. A Reverse Perspective Situation 90. Summary 92. Review and Discussion Questions 93. Endnotes 93. -- 4 The Monetary System in the International Arena 95-- Objectives 95. Opening Challenge 95. International Transactions 96. Balance of Payments 97. The Foreign Exchange Market 102. The International Monetary System 123. The Gold Standard 124. A Reverse Perspective Situation 127. Summary 128. Review Questions 129. Endnotes 130.-- 5 InternationalEconomicIntegration 133-- Objectives 133. Opening Challenge 133. The Changing World Context 136. Globalization and Economic Activity 138. Economic Integration 148. Economic Integration in Europe: The European Union 151. Economic Integration in North America¿NAFTA 165. Economic Integration among Developing Countries 166. A Reverse Perspective Situation 171. Summary 172. Review Questions 173. Endnotes 173. -- 6 Government, Law, and Political Risk in International Business 179-- Objectives 179. Opening Challenge 179. Washington's Worries and Monti's Defense 181. Introduction 182. The Political Environment 182. Reverse Perspective Situation 203. Summary 204. Review and Discussion Questions 204. Endnotes 204. -- 7 GlobalStrategicPlanning 207-- Objectives 207. Opening Case 207. Introduction 209. Overview on Global Strategic Planning 209. The Strategic Planner in a Global Multicultural Envi-- ronment 225. Closing Case 229. Summary 230. Discussion Questions 231. -- Endnotes 232. -- 8 Entering the International Market 233-- Objectives 233. Opening Challenge 233. Concerns and Issues of Going International 234. International Business Research: Determining International Business Research Objectives 238. Distribution and Sales Channel Identi.cation 239. Foreign Market Entry Strategies 240. International Logistics and Transportation Issues Related to Foreign Market Entry 256. A Reverse Perspective Situation 257. Summary 258. Review and Discussion Questions 260. Endnotes 260. -- 9 InternationalMarketing 263-- Objectives 263. Opening Challenge 263. Sports Marketing/Advertisement Revolution by Nike 264. Vision and Global Strategy 265. Nike Constantly Strives for Innovation 266. Innovative Communication 266. Innovation through Integration Logistics and Supply Chain Management 266. Nike Activities in Southeast Asia: Ethical Dilemmas and Social Responsibility Policies 267. The Global Environment 267. International Market Assessment 270. The Global Marketing Environment 270. The National Marketing Environment 272. Market Information 277. International Marketing Strategy and Management 280. The International Marketing Mix: Product, Promotion, Pricing, and Placing Strategies 283. Cross-cultural Consumer Marketing 291. Industrial Marketing 292. Industrial International Marketing Applications 293. Vertical Coordination in the Retailing Sector 293. Chain Marketing 294. Supply Chain Strategy and Management 295. International Marketing Implementation in Challenging Areas of the Global Economy 296. Marketing in the Newly Emerging and Former Eastern Bloc Economies 297. Reverse Perspective Case 300. 'The Greenery': How Dutch Fresh Vegetable Growers Develop their International Marketing Organization. -- 300. Summary 304. Review and Discussion Questions 305. Endnotes 306. -- 10 InternationalAccounting,Finance,andTaxation 309-- Objectives 309. Opening Challenge 309. Questions 311. Introduction 311. The Environment of Global Financial Markets 312. Global Equity Markets 313. Some Trends 319. The Environment of International Financial Accounting 320. International Financial Reporting 330. Auditing in an International Environment -- 337. International Taxation and International Transfer Prices 343. International Transfer Pricing 346. Reverse Perspective Case 349. Discussion Questions 350. Endnotes 351. -- 11 InternationalOperationsManagement 353-- Objectives 353. Opening Challenge 353. Production and Operations 355. What is Operations Management? 356. What Do Operations Managers Do? 360. Operations Management in the International Arena 364. Operations Management at Easyjet Airlines 366. Operations Management Applications 367. Project Management 373. A Reverse Perspective Situation 379. Summary 380. Review and Discussion Questions 381. Problems 381. Endnotes 382. -- 12 StrategicHumanResourceManagementofInternationalAssignments 385-- Objectives 385. Opening Case 386. Functions of International Assignments 390. Ful.lling a Speci.c Need for Personnel and Know-how 391. The Development of Managers and their Implication Toward the Organization 391. Types of International Personnel 393. Strategic Planning and Job Analysis 399. Recruitment of international employees 401. Selection of International Employees 403. Preparation to Transfer 408. Pre-departure Cross-cultural Training Effectiveness 411. Adjustment of the Expatriate Manager: Organization Support upon Arrival and during the Assignment 413. The Process of Cross-cultural Adjustment 413. The Integrated Cross-cultural Adjustment Model 415. Compensation of International Employees 424. Repatriation and Retention 426. Potential Problems Faced by the Expatriates 426. Women in the Global Arena -- 429. Summary 431. Closing Case 431. Endnotes 432. -- 13 DoingBusinessintheIndustrializedCountries 437-- Objectives 437. Opening Challenge 438. Introduction¿About the Industrialized Countries 439. A Changing World¿The Role of the Industrialized Countries 440. Economic and Demographic Forces 441. A New World Economy -- 441. Demographic Forces 442. Income and Purchasing Power 445. Labor Forces -- 446. Nature of the Economy and other Characteristics 447. Political, Legal, and Regulatory Forces 449. International Political/Economic Agreements and Cooperation 451. The Technological Forces 452. The Natural Forces 456. Social and Cultural Forces 457. Consumer Behavior in the Industrialized Countries 458. The Individual Determinants of Consumer Behavior 462. Environmental Determinants of Consumer Behavior 463. Cultural and Social Factors 464. Business Social Responsibility and Ethics 465. Communication and Media 467. In.uencing Consumer Behavior 467. Other Issues 468. The Future 474. Con-- clusions 475. Reverse Perspective Situation 476. Discussion Questions 478. -- Endnotes 479. -- 14 DoingBusinessintheNewlyEmergingEconomies 483-- Objectives 483. Opening Case 483. Introduction 484. Business Opportunities in the Financial Markets 486. Foreign Direct Investments 493. Foreign Trade Potential of the Emerging Economies 497. Growing Potential of the Market of Services 502. Closing Case 505. Summary 507. Questions for Discussion 507. Recommended Readings 508. Endnotes 508. -- 15 BusinessBehaviorinEurope'sSingleMarket 511-- Objectives 511. Opening Case 511. The Issue 512. Description 512. Introduction: What is In.uencing Business Behavior in Europe's Single Market? 514. The Challenges in the European Continent in the Aftermath of World War II -- 515. The First Steps: The Origins of Cooperation in Europe 516. The Deepening of European Integration: The Evolution of the EU through Treaties 516. The Institutional Design of the EU: How Europe is Governed 520. The Widening of -- the EU: The Policy of Enlargement 522.

National and Cultural Differences within the EU: The Importance of Diversity 523. --

The Impact of National Diversity on Business Behavior 526. The Signi.cance of Europe's Single Market: The Four Freedoms of Movement 529. The European Monetary Union: Conducting Business in the Euro-Zone 540. The Need for Regulation in Europe's Business Environment: The EU's Competition Policy 541. Summary 546. Review Questions 547. Endnotes 547. -- 16 DoingBusinessintheDevelopingCountries 549-- Objectives 549. Opening Case 549. Introduction 550. Classification of the Developing Countries 551. Cultural and Political Factors 560. Entry Strategies in the LDCs 565. Interaction with the World Market: Forms, Dependences, and Basic Trends 573. Closing Case 583. Summary 584. Questions for Discussion -- 585. Recommended Readings 586. Endnotes 586. -- A POTPOURRI OF CASES 589-- Air Arabia: Seeking Success in an Open Skies Market 591-- Can Personal Agendas Produce Good Business Decision:-- The Case of KYT Inc 601 -- Chicago Food and Beverage Company 625 -- Making the Product to Service Transition in International -- Markets 639 -- Pharma First International or The Misadventures of an American -- Expatriate in Europe 647 -- Index 665--

Traditionally, international business (IB) texts survey the field from a U.S. perspective, going on to compare the U.S. to the rest of the business world. This text addresses IB from a purely multinational perspective. International Business is examined from the U.S. angle, going on to address IB issues from other countries' perspectives, what we call the 'Reverse Perspective'. ; In accomplishing the U.S. and the Reverse Perspective approaches, the authors interview business executives and politicians from a number of countries, i.e. the U.S., Canada, Mexico, Brazil, Colombia, Argentina, India, Hong Kong, Taiwan, China, Japan, South Korea, Germany, Italy, Russia, etc. The interviews are incorporated at appropriate points in the text as first-hand information providing a multinational flavor to IB from each country's representatives. ; ; * Covers international business issues from a multinational perspective. A focus on different groups of countries, i.e. developed, newly developed, developing, EU. ; * Unique structure with multinational issues covered in the first four parts. Then specific countries of the world presented in the fifth part where multinational/IB issues from the first four parts become especially meaningful. ; * Each chapter features the Reverse Perspective Case that provides material for discussion and/or case analysis from a global perspective not necessarily that of the U.S ; * Website to support the text and lecturer