Verfügbarkeit: Global business

Global business:

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Bibliographische Detailangaben
Format:	Buch
Sprache:	English
Veröffentlicht:	Fort Worth [u.a.] Harcourt College Publ. 2001
Ausgabe:	3. ed.
Schlagworte:	Multinationales Unternehmen International business enterprises > Management Außenhandelsbetriebslehre Welthandel Lehrbuch
Online-Zugang:	Inhaltsverzeichnis
Beschreibung:	Getr. Zählung Ill., graph. Darst., Kt.
ISBN:	9780030006593 0030006597

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Datensatz im Suchindex

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adam_text	.^ Brief Contents Preface vii PART One Introduction to Global Business Theory and Practice 1 Chapter 1 The Global Business Imperative 3 Chapter Z The Impact of Culture on Global Business 27 Part one Cases Video Case: International Vendor Relations at Pier 1 Imports 62 • The Global Car Market: The European Battleground 63 • Substituting U.S. Tobacco Exports for Domestic Consumption 66 • Attracting Foreign Direct Investment: German Luxury Cars in the United States 71 PART Two The Global Economic Environment and Institutions 75 Chapter 3 The Theory of Global Trade and Investment 77 Chapter 4. The International Economic Activity of the Nation: The Balance of Payments 114 chapter S Foreign Exchange, Global Financial Markets, and the International Monetary System 138 Chapter 6 Economic Integration and Emerging Market Economies 177 Part Two Cases Video Case: The Culture of Commerce 220 • The War of the Bananas 222 • An Expatriate Tour in El Salvador 225 • NIKE in Southeast Asia 229 PART THREE Environmental Considerations in Global Business 233 Chapter 7 National Trade and Investment Policies 235 Chapter 8 The Legal and Political Environment of Global Business 262 Chapter 9 Organization, Management, and Control of Global Operations 298 Part Three Cases Video Case: A Taste of the West 343 • Mad Cow Disease 346 • Ecologic Cooling: The Fridge from Eastern Germany 352 • Comeback from a Near Death Experience: Audi of America 1992 1997 354 Part Four Global Marketing 359 Chapter 1O Global Business and Marketing Research 361 Chapter 11 Global Business Entry 398 Chapter 12 The Marketing Mix for Products and Services 426 Chapter 13 Physical Distribution 468 PART FOUR CASES Video Case: Lakewood Forest Products 498 • Water from Iceland 500 • The F 18 Hornet Offset 505 • Aftermath of an Environmental Disaster: Union Carbide in Bhopal 512 Part Five International Finance and the Future 515 chapter 14 International Finance 517 Chapter 1S The Future 550 English Glossary GL 1 Spanish Glossary GL 12 Photo Credits P l Author Index 1 1 Subject Index 1 5 xvii \|P^gw Contents I PREFACE VII Part One Introduction to Global Business Theory and Practice 1 ¦ Chapter l The Global Business Imperative 3 Why Study Global Business 4 \| Activities That Define Global Business 7 ! The Export of Culture and Ideas 8 } Exporting and Importing Culture 8 ! Exporting Ideas 8 A Definition of Global Business 10 Global Linkages Today 11 The Current U.S. International Trade Program 14 The U.S. Merchandise Trade Deficit 19 Trade with Japan and China 19 Trade with Canada and Mexico 21 Trading Partners 24 Structure of the Book 25 Summary 25 Global Learning Experience 1,1 The World According to McDonald s 5 Global Learning Experience 1,2 Baywatch Hawaii —The Most Watched TV Show on Earth 9 Global Learning Experience 1.3 The Ford Focus 12 Global Learning Experience 1.4 When the Avon Lady Calls Globally 18 Global Learning Experience 1.5 U.S. Consumer Spending Supports Recovery of Foreign Economies 21 Global Learning Experience 1.6 The World s Tallest Building—in Shanghai? 23 Chapter 2 The Impact of Culture on Global Business 27 Culture Defined 28 The Elements of Culture 34 ! Nonverbal Language 38 j Religion 39 xix xx Contents Values and Attitudes 45 Manners and Customs 46 Material Elements 48 Aesthetics 50 Education 50 Social Institutions 51 Concerns about the Loss of Cultural Identity 53 The Training Challenge 53 Culture Shock 57 Summary 58 Global, learning Experience 2.1 Using Culture to Achieve Success 29 Global Learning Experience 2.2 U.S. Foreign Policy toward China—Tangled in Words 33 Global Learning Experience 2.3 Europe Moves toward a Common Language 35 Global Learning Experience 2.4 Japanese Konpyutaa Talk 38 Global. Learning Experience 2.5 Dia de los Muertos—Day of the Dead 41 Global Learning Experience 2.6 Financing Purchases the Islamic Way 43 Global Learning Experience 2.7 Hindu Festivals That Purify the Soul 44 Global Learning Experience 2.8 In Asia, It s Best to Check with the Spirits First 48 Global Learning Experience 2,9 Christmas in Istanbul? 49 Global Learning Experience 2.1O Nineteen Nations See U.S. as a Threat to Their Cultures 54 Fart One Cases Video Case: International Vendor Relations at Pier 1 Imports 62 The Global Car Market: The European Battleground 63 Substituting U.S. Tobacco Exports for Domestic Consumption 66 Attracting Foreign Direct Investment: German Luxury Cars in the United States 71 Part Two The Global Economic Environment and Institutions 75 Chapter 3 The Theory of Global Trade and Investment 77 The Age of Mercantilism 78 Exploration 79 The Demise of Mercantilism 79 Classical Trade Theory 81 Why Do Countries Trade 81 Adam Smith—The Theory of Absolute Advantage 81 David Ricardo—The Theory of Comparative Advantage 83 A Numerical Example of Classical Trade Theory 84 1 Contents xxi National Production Possibilities Curve 85 Concluding Points about Classical Trade Theory 88 Factor Proportions Theory 88 Factor Intensity in Production 88 Factor Endowments, Factor Prices, and Comparative Advantage 89 _.i The Leontief Paradox 90 5 Linder s Overlapping Product Ranges Theory 92 ; International Investment and Product Cycle Theory 93 I The Stages of the Product Cycle 93 Trade Implications of the Product Cycle 94 The Contributions of Product Cycle 96 The New Trade Theory 96 Economies of Scale and Imperfect Competition 98 The Competitive Advantage of Nations 100 The Theory of International Investment 104 The Foreign Direct Investment Decision 106 The Theory of Foreign Direct Investment 106 ; Firms as Seekers 108 \| Firms as Exploiters of Imperfections 108 i Firms as Internalizers 110 Summary 110 GLOBAL, LEARNING EXPERIENCE 3.1 The Spanish Treasure Fleets—Bringing Treasure from the New World 80 Global Learning Experience 3.2 Fair Trade: The Use of Child Labor in Producing Products for the Global Marketplace 85 Global learning Experience 3.3 Poor Nations See United States in a Plot to Deprive Them of Trade 91 I GLOBAL LEARNING EXPERIENCE 3.4 I U.S. Steel Industry Battered by Low Cost Imports Gamely Fights Back 92 I GLOBAL LEARNING EXPERIENCE 3.S Treacherous Trade 97 Global learning Experience 3.6 Creating Internal Economies of Scale with Robots 99 Global learning Experience 3.7 Being Competitive in the Automobile Industry 102 GLOBAL LEARNING EXPERIENCE 3.8 Trade: Why Such a Bum Rap? 105 Global learning experience 3.9 ISO 9000—A World Standard of Quality 109 Chapter 4 The International Economic Activity of the Nation: The Balance of Payments 114 Fundamentals of Balance of Payments Accounting 116 Defining International Economic Transactions 116 ; The BOP as a Flow Statement 116 I BOP Accounting: Double Entry Bookkeeping 117 The Current Account 118 xxii Contents Trade in Goods, Services, and Income 119 The Capital and Financial Account 122 Direct Investment 124 Portfolio Investment 129 Current and Financial Account Balance Relationships 130 Net Errors and Omissions 130 Official Reserves Account 131 The Balance of Payments in Total 132 Merchandise Trade and Foreign Exchange Rate Dynamics 135 Summary 135 Global. Learning Experience 4.1 Finding a Scapegoat 115 Global Learning Experience 4..2 U.S. Exports to Asia: How Important Are They? 122 Global. Learning Experience 4.3 Poor Nations Demand a Piece of the Global Trade Pie 129 Global Learning Experience 4.4 IMF Bail Outs: Truth and Fiction 134 Chapter 5 Foreign Exchange, Global Financial Markets, and the International Monetary System 138 The Purpose of Exchange Rates 139 What a Currency Is Worth 139 The Laws of One Price 141 The Foreign Exchange Market 143 Foreign Currency Market Structure 143 Market Size and Composition 144 Exchange Rate Quotations and Terminology 145 Spot Transactions 145 Forward Transactions 145 Bid and Offer Quotes 147 Cross Rates 149 Percentage Change Calculations 150 Fixed and Floating Foreign Exchange Rates 150 Fixed Exchange Rates: The Adjustable Peg 151 The Interactive Monetary Fund 152 The International Bank for Reconstruction and Development (World Bank) 153 The Experience under Bretton Woods, 1946 1971 145 Collapse and Transition, 1971 1973 154 Floating Exchange Rates, 1973 1990 155 The Rise of the Dollar, 1980 1985 156 Intervention in the 1980s: Expectations and Coordination 156 The Plaza Agreement, September 1985 157 The Louvre Accord, February 1987 157 Significant Monetary Events, 1990 2000 158 The European Monetary System and the Euro 158 1 Contents xxiii Events and Performance of the EMS 160 The EMS Crisis of September 1992 160 The Euro 161 Recent Movements of the World s Major Currencies 161 Financial Crises in the Americas and Asia 163 The Mexican Peso Devaluation of 1994 and the Tequila Effect 163 Brazilian Devaluation of the Real—1999 167 Colombian Devaluation of the Peso 167 i Ecuador s Currency s Problem 167 Venezuela s Bolivar 167 I The Asian Currency Crisis of 1997 168 Exchange Rates, Interest Rates, and Economic Policy 169 Debt Levels and Economic Performance 170 Heavily Indebted Poor Country Initiative 171 International Money Markets 173 Eurocurrency Markets 173 Eurocurrency Interest Rates 173 Summary 174 Global learning Experience S.t Will the U.S. Dollar Become the Official Currency of the Americas? 140 Global learning Experience 5.2 The Origins of Monies 148 i Global Learning Experience 5.3 Gold, the Nonprecious Metal 155 Global learning experience 5.4 Monetary Crises Are As Old As Money 159 Global Learning Experience 5.5 Currency Devaluation vs. Currency Depreciation 165 I Global learning Experience 5.6 Changing Money in Brazil 166 chapter 6 Economic Integration and Emerging Market Economies 177 Levels of Economic Integration 179 The Free Trade Area 179 The Customs Union 179 The Common Market 179 The Economic Union 182 Arguments Surrounding Economic Integration 182 Trade Creation and Trade Diversion 182 Reduced Import Prices 184 Increased Competition and Economies of Scale 184 Higher Factor Productivity 185 ; Regionalism versus Nationalism 185 i The European Union 185 Economic Integration in Europe from 1948 to the Mid 1980s 185 xxiv Contents The European Union Since the Mid 1980s 189 Implications of European Integration 190 Economic Integration in the Americas 192 North American Free Trade Agreement 192 Growth in Trade Among NAFTA Members 193 Other Economic Alliances in the Americas 196 Southern Cone Common Market (Mercosur) 196 Andean Common Market (ANCom) 198 Central American Common Market (CACM) 200 Caribbean Common Market 201 Caribbean Basin Initiative 201 Other Latin American Integration Efforts 201 Free Trade Area of the Americas 201 Integration in Asia 203 Asia Pacific Economic Cooperation 204 Association of Southeast Asian Nations 204 Indian Subcontinent 205 Integration in Africa and the Middle East 205 Cartels and Commodity Price Agreements 205 Emerging Market Economies 206 The Demise of the Socialist System 208 The Realities of Economic Change 211 Adjusting to Rapid Change 212 International Business Challenges and Opportunities 213 Privatization 215 Summary 216 Global Learning Experience 6.1 Economic Integration Does Not Guarantee Jobs 178 Global Learning Experience 6.2 Do Regional Trade Agreements Encourage Free Trade? 183 Global Learning Experience 6.3 A 20 Year G.M. Parts Migration to Mexico 186 Global, Learning Experience 6.4 Low Labor Costs—A Global Perspective 194 Global Learning Experience 6.S Trade Diversion in the Americas 202 Global Learning Experience 6.6 Free Trade Zone of the Americas Given a Go Ahead 203 Global Learning Experience 6.7 How to Win in China 210 Global Learning Experience 6.8 Privatization in Africa 215 Part Two cases Video Case: The Culture of Commerce 220 The War of the Bananas 222 An Expatriate tour in El Salvador 225 NIKE in Southeast Asia 229 I Contents xxv Part Three Environmental Considerations in Global Business 233 Chapter 7 National Trade and Investment Policies 235 Rationale and Goals of Trade and Investment Policies 236 Global Developments Since World War II 238 About the World Trade Organization 239 Changes in the Global Policy Environment 244 Reduction of Domestic Policy Influences 244 Weakening of Traditional Global Institutions 246 Sharpening of the Conflict Between Industrialized and Developing Nations 248 1 Policy Responses to Changing Conditions 248 ¦ Restrictions of Imports 250 i Restrictions of Exports 257 { Export Promotion Efforts 258 \| Import Promotion Efforts 259 Summary 260 Global Learning Experience 7,1 Global Food Fights: The Worst Are Yet to Come 237 Global Learning Experience 7.a United States and Canada Avert Trade War over Magazines 241 Global Learning Experience 7.3 Major Industrialized Nations Give Global Warming the Cold Shoulder 249 Global Learning Experience 7.4 To Avoid Tariffs, Italians Open Pasta Factories in the United States 250 1 Global Learning Experience 7.5 I Import Duties the Russian Way 254 I Global Learning Experience 7.6 i U.S. Shipyards on a Self Destructive Course 255 • GLOBAL LEARNING EXPERIENCE 7.7 Tariff Barriers on the Way Down—Nontariff Barriers on the Way Up 255 Global Learning Experience 7.8 Canada Halts Exports of Fresh Water 257 global Learning Experience 7.0 ! United States to Allow Exports of High Speed Computers 258 Chapter 8 The Legal and Political Environment of Global Business 262 National Law 263 International Law 264 Private International Law 264 International Contracts 264 International Contractual Disputes 267 Avoiding the Pitfalls of Negotiating Contracts in an Unfamiliar Legal Environment 267 Restriction of Global Business Activity 267 Regulating the Moral Behavior of Global Businesses 268 Public International Law 270 Export Controls 271 Boycott 272 1 xxvi Contents Sanctions and Embargoes 273 Conventions and Regulations of Intergovernmental Organizations 276 Protection of Intellectual Property Rights 276 Legal Differences and Restraints 278 Basic Systems of Law 278 The Global Political Environment 281 Political Action and Risk 282 The Doctrine of Sovereign Immunity 283 Seizure of Company Assets 284 Actions Available in the Event of Expropriation or Confiscation 286 Minimizing Political Risk 286 Country Risk Ratings 287 Accounting Practice and Tax Laws 288 Principal Accounting Practice Differences Across Countries 288 Origins of Differences in Accounting Practice 288 Classification Systems 288 International Taxation 291 Tax Jurisdictions 291 Tax Types 292 Labor Law 293 Sweden 293 Brazil 293 Legal Forms of Business Organization 295 Summary 295 Global. Learning Experience 8.1 United Europe Gaining in the Area of Law 265 Global. Learning Experience 8.2 Foreign Companies Held Liable for Non U.S. Price Fixing 268 Global. Learning Experience 8.3 730 Nations Agree on Biotech Food Rules 271 Global Learning experience 8.4 U.S. Loses Dispute on Export Sales 277 Global Learning Experience 8.S Singapore, World Execution Capital 279 Global Learning Experience 8.6 In China, the Lawyers Are Handcuffed 280 Global Learning Experience 8.7 Awash in Corruption 285 Global learning Experience 8.8 The Father of Accounting: Luca Pacioli Who? 289 Global learning Experience 8.9 U.S. Labor Law Reaches into the Pacific 294 Chapter 9 Organization, Management, and Control of Global Operations 298 Organizing the Global Enterprise 299 Organizational Structure 299 Organizational Designs 299 Grouping People and Physical Resources to Achieve Organizational Goals 303 ] Contents xxvii Decentralized versus Centralized Organizational Structures 309 i Other Factors Affecting Organizational Structure and Decisionmaking 310 \| The Networked Global Organization 311 The Multinational Corporation 313 The Multinational Corporation Defined 313 The World s Multinational Corporations 314 Foreign Direct Investment 316 Reasons for Foreign Direct Investment 316 The Host Country Perspective 318 The Negative Impact 319 The Home Country Perspective 320 Management of the Relationship 320 Dealing with Other Constituents 321 Managing Managers 322 Early Stages of Globalization 324 Advanced Stages of Globalization 324 \| Compensation 325 Repatriation 328 ; Managing Labor Personnel 329 i Labor Participation in Management 329 Human Resource Politics 331 Control 332 Exercising Control 337 Summary 338 Global, Learning Experience 9.t Characteristics of Success 300 I Global Learning Experience 9.2 International Best Practice Exchange 308 • Global learning Experience 9.3 Guanxi—The Web of Relationships 311 Global Learning Experience 9.4 Tact Can Seal a Global Deal... 312 Global Learning Experience 9.5 How to Manage Expatriates 322 GLOBAL LEARNING EXPERIENCE 9.6 Getting Compensated for the Overseas Assignment 327 Global Learning Experience 9.7 The Foreign Assignment—Will It Help Your Career or Hinder It? 328 Global Learning Experience 9.8 Global Unions vs. Global Companies 330 Global Learning Experience 9.9 Staying in Touch with a Global Organization 333 Part Three cases Video Case: A Taste of the West 343 : Mad Cow Disease 346 \| Ecologic Cooling: The Fridge from Eastern Germany 352 Comeback from a Near Death Experience: Audi of America 1992 1997 354 xxviii Contents Part Four Global Marketing 359 Chapter 1O Global Business and Marketing Research 361 The Strategic Planning Process 362 Analysis of Markets and Competition 362 Organizational Factors 363 Country Market Choice 363 Segmentation 363 Choice of Competitive Strategy 363 Recognizing the Need for Global Research 365 Target Market Selection 366 Identification and Screening 366 Concentration versus Diversification 372 Conducting Research 373 Identifying Sources of Data 373 Selection of Secondary Data 377 Analysis and Interpretation of Secondary Data 377 Conducting Primary Research 380 Industrial versus Consumer Sources of Data 381 Determining the Research Technique 381 Summary of Survey Methods 385 Scenario Building 386 Summary 387 Appendix 10A Monitors of International Issues 390 Appendix 10B Selected United States Government Publications and Services 396 Global Learning Experience 1O.1 Electronic Information Sources on the EU 364 Global Learning Experience 1O.2 Building Export Markets 368 Global learning Experience 1O.3 The Latin Web of Information 375 Global Learning Experience 1O.4 Market Research in Russia 382 Global Learning Experience IO.S In Tokyo, Finding the Correct Address Is Not Easy 384 Global Learning Experience 1O,6 What s in a Street Name? In Mexico City, Plenty! 385 Chapter 11 Global Business Entry 398 The Role of Management 400 Reasons to Go Abroad 400 Proactive Reasons 401 Reactive Reasons 402 Methods of Entering Global Markets 404 Indirect and Direct Exporting and Importing 404 Licensing 407 Franchising 408 . Contents xxix Contract Manufacturing 411 Management Contracts 412 Turnkey Operations 412 Complementary Marketing 413 Ownership/Equity Methods 413 Full Ownership 415 i Interfirm Cooperation 416 Strategic Alliances 417 f International Intermediaries 418 I Export Management Companies 418 Webb Pomerene Associations 419 Trading Companies 419 : International Facilitators 421 ; Summary 422 Global learning Experience 11.1 Cracking the Global Market Is No Piece of Cake 399 Global Learning Experience 11.2 Look before You Leap 404 Global learning Experience 11,3 Franchising Americana Abroad 409 Global Learning Experience 11.4 Feeding Japan s Appetite for Burgers 411 Global Learning Experience 11.5 \| Mickey and Minnie on the Road to Hong Kong 414 Chapter 12 The Marketing Mix for Products and Services 426 Marketing Management 427 Standardization versus Adaptation 427 i Products and Services 430 Product Policy 430 Pricing Policy 439 Promotional Policy 443 Place (Distribution) Policy 449 Channels of Distribution 449 Services Policy 453 The Role of Services in the U.S. Economy 455 The Role of Global Services in the World Economy 456 Global Transformations in the Services Sector 460 Starting to Offer Services Globally 461 Strategic Indications 462 Summary 463 ; Coca Cola Learns to Think Globally and Act Locally 429 j Global learmn?; ekphsi?«c;r 12.2 Budweiser Intensifies Marketing Abroad 434 Global leahninc. Exp6 ««f Ncr 12..3 Different Cultures Open New Export Markets 435 xxx Contents Global Learning Experience 12.4. Home Depot Begins Its Foreign Expansion 438 Global. Learning Experience 12.5 The World Capital of Counterfeit Goods 439 Global Learning Experience 12.6 An Advertising Checklist for Entering New Markets 447 Global Learning experience 12.7 A Promotion That Was Too Successful 448 Global learning Experience 12.S How Not to Run a Promotion 449 Global Learning Experience 12.9 The Problem of Finding Channels of Distribution in Japan 450 Global Learning Experience 12.1O Educating the World 455 Global Learning Experience 12.11 The Global Temp 458 Chapter 13 Physical Distribution 468 The Field of Physical Distribution 469 A Definition of International Physical Distribution 470 Differences between Domestic and International Physical Distribution 471 International Transportation 472 Infrastructure 472 Availability of Modes 473 Choice of Transportation Modes 479 Export Documentation 484 Terms of Shipment and Sale 485 International Inventory Issues 488 International Packaging Issues 490 International Storage Issues 493 Storage Facilities 493 Special Trade Zones 494 Distribution and the Environment 494 Summary 495 Global learning Experience 13.1 Asian Financial Crises Cause Shipping Problems 469 Global learning Experience 13.2 Pirates Still Roam the Seas 476 Global Learning Experience 13.3 Keeping Exported Produce Fresh 478 Global learning Experience 13.4 Late, Lost, and Damaged Goods 490 Global learning Experience 13.5 U.S. Auto Thieves Go Global 492 Part Four Cases Video Case: Lakewood Forest Products 498 Water from Iceland 500 f Contents xxxi The F 18 Hornet Offset 505 Aftermath of an Environmental Disaster: Union Carbide in Bhopal 512 Part Five International Finance and the Future 515 Chapter 14 International Finance 517 Financing Exports and Imports 518 Export/Import Financing 518 Types of Countertrade 523 j Financial Management 528 Overview of International Financial Management 528 j Operating and Financial Cash Flows 529 International Working Capital and Cash Flow Management 529 Cash Flow Management 529 Managing the Payment of Receivables and Their Conversion into Cash 530 Techniques to Minimize the Need for Cash or Cash Outflows 530 Capital Structure: International Dimensions 531 The Capital Structure of the Firm 532 The Capital Structure of Foreign Subsidiaries 532 International Capital Markets 533 Defining International Financing 533 Driving Forces in the International Financial Markets 535 International Banking 537 \| Structure of International Banking 537 S Offshore Banking 538 International Bank Lending 538 ? International Security Markets 538 The Euronote Market 539 The International Bond Market 539 j International Equity Markets 540 J Private Placements 541 is \| Financial Risk Management 541 j Financial Price Risk and Firm Value 541 ¦ Classification of Foreign Currency Exposures 542 Transaction Exposure 543 Transaction Exposure Management 543 Economic Exposure 544 Impact of Economic Exposure 545 Economic Exposure Management 545 Translation Exposure 546 Translation Exposure Management 546 i Summary 547 I Global learning Experience 14.i Chinese Banks Holding Up Payments on Delivered Goods 518 Global Learning Experience 14.2 Offsets Help International Sales 525 xxxii Contents Global Learning Experience 14.3 Economic Exposure: Foreign Automakers in Mexico 544 Global Learning Experience 14.4 Management s Analysis 546 chapter IS The Future 550 The International Business Environment 552 The Political Environment 552 The International Financial Environment 556 The Effects of Population Shifts 558 The Technologic Environment 558 Changes in Trade Relations 560 Governmental Policy 560 The Future of Global Business Management 562 International Planning and Research 562 Global Product Policy 564 Global Communications 566 Distribution Strategies 566 Global Pricing 567 Careers in Global Business 567 Further Training 569 Employment with a Large Firm 569 Sources for Management Recruitment 572 Selection Criteria for Overseas Assignments 575 Employment with a Small or Medium Size Firm 577 Opportunities for Women in Global Management 579 Summary 580 Global Learning Experience 1S.1 Riding the Global Wave to the Top 551 Global Learning Experience 15.2 Lenders Target Women in the Developing World 554 Global Learning Experience 15.3 Global Shopping at the Cybermall 559 Global, learning Experience 1S.4 Preparing for an International Assignment 578 English glossary GL 1 Spanish Glossary GL 12 Photo Credits p 1 Author Index i f Subject index 1 5
adam_txt	\.^ Brief Contents Preface vii PART One Introduction to Global Business Theory and Practice 1 Chapter 1 The Global Business Imperative 3 Chapter Z The Impact of Culture on Global Business 27 Part one Cases Video Case: International Vendor Relations at Pier 1 Imports 62 • The Global Car Market: The European Battleground 63 • Substituting U.S. Tobacco Exports for Domestic Consumption 66 • Attracting Foreign Direct Investment: German Luxury Cars in the United States 71 PART Two The Global Economic Environment and Institutions 75 Chapter 3 The Theory of Global Trade and Investment 77 Chapter 4. The International Economic Activity of the Nation: The Balance of Payments 114 chapter S Foreign Exchange, Global Financial Markets, and the International Monetary System 138 Chapter 6 Economic Integration and Emerging Market Economies 177 Part Two Cases Video Case: The Culture of Commerce 220 • The War of the Bananas 222 • An Expatriate Tour in El Salvador 225 • NIKE in Southeast Asia 229 PART THREE Environmental Considerations in Global Business 233 Chapter 7 National Trade and Investment Policies 235 Chapter 8 The Legal and Political Environment of Global Business 262 Chapter 9 Organization, Management, and Control of Global Operations 298 Part Three Cases Video Case: A Taste of the West 343 • Mad Cow Disease 346 • Ecologic Cooling: The Fridge from Eastern Germany 352 • Comeback from a Near Death Experience: Audi of America 1992 1997 354 Part Four Global Marketing 359 Chapter 1O Global Business and Marketing Research 361 Chapter 11 Global Business Entry 398 Chapter 12 The Marketing Mix for Products and Services 426 Chapter 13 Physical Distribution 468 PART FOUR CASES Video Case: Lakewood Forest Products 498 • Water from Iceland 500 • The F 18 Hornet Offset 505 • Aftermath of an Environmental Disaster: Union Carbide in Bhopal 512 Part Five International Finance and the Future 515 chapter 14 International Finance 517 Chapter 1S The Future 550 English Glossary GL 1 Spanish Glossary GL 12 Photo Credits P l Author Index 1 1 Subject Index 1 5 xvii \|P^gw Contents I PREFACE VII Part One Introduction to Global Business Theory and Practice 1 ¦ Chapter l The Global Business Imperative 3 Why Study Global Business 4 \| Activities That Define Global Business 7 ! The Export of Culture and Ideas 8 } Exporting and Importing Culture 8 ! Exporting Ideas 8 A Definition of Global Business 10 Global Linkages Today 11 The Current U.S. International Trade Program 14 The U.S. Merchandise Trade Deficit 19 Trade with Japan and China 19 Trade with Canada and Mexico 21 Trading Partners 24 Structure of the Book 25 Summary 25 Global Learning Experience 1,1 The World According to McDonald's 5 Global Learning Experience 1,2 "Baywatch Hawaii"—The Most Watched TV Show on Earth 9 Global Learning Experience 1.3 The Ford Focus 12 Global Learning Experience 1.4 When the Avon Lady Calls Globally 18 Global Learning Experience 1.5 U.S. Consumer Spending Supports Recovery of Foreign Economies 21 Global Learning Experience 1.6 The World's Tallest Building—in Shanghai? 23 Chapter 2 The Impact of Culture on Global Business 27 Culture Defined 28 The Elements of Culture 34 ! Nonverbal Language 38 j Religion 39 xix xx Contents Values and Attitudes 45 Manners and Customs 46 Material Elements 48 Aesthetics 50 Education 50 Social Institutions 51 Concerns about the Loss of Cultural Identity 53 The Training Challenge 53 Culture Shock 57 Summary 58 Global, learning Experience 2.1 Using Culture to Achieve Success 29 Global Learning Experience 2.2 U.S. Foreign Policy toward China—Tangled in Words 33 Global Learning Experience 2.3 Europe Moves toward a Common Language 35 Global Learning Experience 2.4 Japanese Konpyutaa Talk 38 Global. Learning Experience 2.5 Dia de los Muertos—Day of the Dead 41 Global Learning Experience 2.6 Financing Purchases the Islamic Way 43 Global Learning Experience 2.7 Hindu Festivals That Purify the Soul 44 Global Learning Experience 2.8 In Asia, It's Best to Check with the Spirits First 48 Global Learning Experience 2,9 Christmas in Istanbul? 49 Global Learning Experience 2.1O Nineteen Nations See U.S. as a Threat to Their Cultures 54 Fart One Cases Video Case: International Vendor Relations at Pier 1 Imports 62 The Global Car Market: The European Battleground 63 Substituting U.S. Tobacco Exports for Domestic Consumption 66 Attracting Foreign Direct Investment: German Luxury Cars in the United States 71 Part Two The Global Economic Environment and Institutions 75 Chapter 3 The Theory of Global Trade and Investment 77 The Age of Mercantilism 78 Exploration 79 The Demise of Mercantilism 79 Classical Trade Theory 81 Why Do Countries Trade 81 Adam Smith—The Theory of Absolute Advantage 81 David Ricardo—The Theory of Comparative Advantage 83 A Numerical Example of Classical Trade Theory 84 1 Contents xxi National Production Possibilities Curve 85 Concluding Points about Classical Trade Theory 88 Factor Proportions Theory 88 Factor Intensity in Production 88 Factor Endowments, Factor Prices, and Comparative Advantage 89 _.i The Leontief Paradox 90 5 Linder's Overlapping Product Ranges Theory 92 ; International Investment and Product Cycle Theory 93 I The Stages of the Product Cycle 93 Trade Implications of the Product Cycle 94 The Contributions of Product Cycle 96 The New Trade Theory 96 Economies of Scale and Imperfect Competition 98 The Competitive Advantage of Nations 100 The Theory of International Investment 104 The Foreign Direct Investment Decision 106 The Theory of Foreign Direct Investment 106 ; Firms as Seekers 108 \| Firms as Exploiters of Imperfections 108 i Firms as Internalizers 110 Summary 110 GLOBAL, LEARNING EXPERIENCE 3.1 The Spanish Treasure Fleets—Bringing Treasure from the New World 80 Global Learning Experience 3.2 Fair Trade: The Use of Child Labor in Producing Products for the Global Marketplace 85 Global learning Experience 3.3 Poor Nations See United States in a Plot to Deprive Them of Trade 91 I GLOBAL LEARNING EXPERIENCE 3.4 I U.S. Steel Industry Battered by Low Cost Imports Gamely Fights Back 92 I GLOBAL LEARNING EXPERIENCE 3.S Treacherous Trade 97 Global learning Experience 3.6 Creating Internal Economies of Scale with Robots 99 Global learning Experience 3.7 Being Competitive in the Automobile Industry 102 GLOBAL LEARNING EXPERIENCE 3.8 Trade: Why Such a Bum Rap? 105 Global learning experience 3.9 ISO 9000—A World Standard of Quality 109 Chapter 4 The International Economic Activity of the Nation: The Balance of Payments 114 Fundamentals of Balance of Payments Accounting 116 Defining International Economic Transactions 116 ; The BOP as a Flow Statement 116 I BOP Accounting: Double Entry Bookkeeping 117 The Current Account 118 xxii Contents Trade in Goods, Services, and Income 119 The Capital and Financial Account 122 Direct Investment 124 Portfolio Investment 129 Current and Financial Account Balance Relationships 130 Net Errors and Omissions 130 Official Reserves Account 131 The Balance of Payments in Total 132 Merchandise Trade and Foreign Exchange Rate Dynamics 135 Summary 135 Global. Learning Experience 4.1 Finding a Scapegoat 115 Global Learning Experience 4.2 U.S. Exports to Asia: How Important Are They? 122 Global. Learning Experience 4.3 Poor Nations Demand a Piece of the Global Trade Pie 129 Global Learning Experience 4.4 IMF Bail Outs: Truth and Fiction 134 Chapter 5 Foreign Exchange, Global Financial Markets, and the International Monetary System 138 The Purpose of Exchange Rates 139 What a Currency Is Worth 139 The Laws of One Price 141 The Foreign Exchange Market 143 Foreign Currency Market Structure 143 Market Size and Composition 144 Exchange Rate Quotations and Terminology 145 Spot Transactions 145 Forward Transactions 145 Bid and Offer Quotes 147 Cross Rates 149 Percentage Change Calculations 150 Fixed and Floating Foreign Exchange Rates 150 Fixed Exchange Rates: The Adjustable Peg 151 The Interactive Monetary Fund 152 The International Bank for Reconstruction and Development (World Bank) 153 The Experience under Bretton Woods, 1946 1971 145 Collapse and Transition, 1971 1973 154 Floating Exchange Rates, 1973 1990 155 The Rise of the Dollar, 1980 1985 156 Intervention in the 1980s: Expectations and Coordination 156 The Plaza Agreement, September 1985 157 The Louvre Accord, February 1987 157 Significant Monetary Events, 1990 2000 158 The European Monetary System and the Euro 158 1 Contents xxiii Events and Performance of the EMS 160 The EMS Crisis of September 1992 160 The Euro 161 Recent Movements of the World's Major Currencies 161 Financial Crises in the Americas and Asia 163 The Mexican Peso Devaluation of 1994 and the Tequila Effect 163 Brazilian Devaluation of the Real—1999 167 Colombian Devaluation of the Peso 167 i Ecuador's Currency's Problem 167 Venezuela's Bolivar 167 I The Asian Currency Crisis of 1997 168 Exchange Rates, Interest Rates, and Economic Policy 169 Debt Levels and Economic Performance 170 Heavily Indebted Poor Country Initiative 171 International Money Markets 173 Eurocurrency Markets 173 Eurocurrency Interest Rates 173 Summary 174 Global learning Experience S.t Will the U.S. Dollar Become the Official Currency of the Americas? 140 Global learning Experience 5.2 The Origins of Monies 148 i Global Learning Experience 5.3 Gold, the Nonprecious Metal 155 Global learning experience 5.4 Monetary Crises Are As Old As Money 159 Global Learning Experience 5.5 Currency Devaluation vs. Currency Depreciation 165 I Global learning Experience 5.6 Changing Money in Brazil 166 chapter 6 Economic Integration and Emerging Market Economies 177 Levels of Economic Integration 179 The Free Trade Area 179 The Customs Union 179 The Common Market 179 The Economic Union 182 Arguments Surrounding Economic Integration 182 Trade Creation and Trade Diversion 182 Reduced Import Prices 184 Increased Competition and Economies of Scale 184 Higher Factor Productivity 185 ; Regionalism versus Nationalism 185 i The European Union 185 Economic Integration in Europe from 1948 to the Mid 1980s 185 xxiv Contents The European Union Since the Mid 1980s 189 Implications of European Integration 190 Economic Integration in the Americas 192 North American Free Trade Agreement 192 Growth in Trade Among NAFTA Members 193 Other Economic Alliances in the Americas 196 Southern Cone Common Market (Mercosur) 196 Andean Common Market (ANCom) 198 Central American Common Market (CACM) 200 Caribbean Common Market 201 Caribbean Basin Initiative 201 Other Latin American Integration Efforts 201 Free Trade Area of the Americas 201 Integration in Asia 203 Asia Pacific Economic Cooperation 204 Association of Southeast Asian Nations 204 Indian Subcontinent 205 Integration in Africa and the Middle East 205 Cartels and Commodity Price Agreements 205 Emerging Market Economies 206 The Demise of the Socialist System 208 The Realities of Economic Change 211 Adjusting to Rapid Change 212 International Business Challenges and Opportunities 213 Privatization 215 Summary 216 Global Learning Experience 6.1 Economic Integration Does Not Guarantee Jobs 178 Global Learning Experience 6.2 Do Regional Trade Agreements Encourage Free Trade? 183 Global Learning Experience 6.3 A 20 Year G.M. Parts Migration to Mexico 186 Global, Learning Experience 6.4 Low Labor Costs—A Global Perspective 194 Global Learning Experience 6.S Trade Diversion in the Americas 202 Global Learning Experience 6.6 Free Trade Zone of the Americas Given a Go Ahead 203 Global Learning Experience 6.7 How to Win in China 210 Global Learning Experience 6.8 Privatization in Africa 215 Part Two cases Video Case: The Culture of Commerce 220 The War of the Bananas 222 An Expatriate tour in El Salvador 225 NIKE in Southeast Asia 229 I Contents xxv Part Three Environmental Considerations in Global Business 233 Chapter 7 National Trade and Investment Policies 235 Rationale and Goals of Trade and Investment Policies 236 Global Developments Since World War II 238 About the World Trade Organization 239 Changes in the Global Policy Environment 244 Reduction of Domestic Policy Influences 244 Weakening of Traditional Global Institutions 246 Sharpening of the Conflict Between Industrialized and Developing Nations 248 1 Policy Responses to Changing Conditions 248 ¦ Restrictions of Imports 250 i Restrictions of Exports 257 { Export Promotion Efforts 258 \| Import Promotion Efforts 259 Summary 260 Global Learning Experience 7,1 Global Food Fights: The Worst Are Yet to Come 237 Global Learning Experience 7.a United States and Canada Avert Trade War over Magazines 241 Global Learning Experience 7.3 Major Industrialized Nations Give Global Warming the Cold Shoulder 249 Global Learning Experience 7.4 To Avoid Tariffs, Italians Open Pasta Factories in the United States 250 1 Global Learning Experience 7.5 I Import Duties the Russian Way 254 I Global Learning Experience 7.6 i U.S. Shipyards on a Self Destructive Course 255 • GLOBAL LEARNING EXPERIENCE 7.7 Tariff Barriers on the Way Down—Nontariff Barriers on the Way Up 255 Global Learning Experience 7.8 Canada Halts Exports of Fresh Water 257 global Learning Experience 7.0 ! United States to Allow Exports of High Speed Computers 258 Chapter 8 The Legal and Political Environment of Global Business 262 National Law 263 International Law 264 Private International Law 264 International Contracts 264 International Contractual Disputes 267 Avoiding the Pitfalls of Negotiating Contracts in an Unfamiliar Legal Environment 267 Restriction of Global Business Activity 267 Regulating the Moral Behavior of Global Businesses 268 Public International Law 270 Export Controls 271 Boycott 272 1 xxvi Contents Sanctions and Embargoes 273 Conventions and Regulations of Intergovernmental Organizations 276 Protection of Intellectual Property Rights 276 Legal Differences and Restraints 278 Basic Systems of Law 278 The Global Political Environment 281 Political Action and Risk 282 The Doctrine of Sovereign Immunity 283 Seizure of Company Assets 284 Actions Available in the Event of Expropriation or Confiscation 286 Minimizing Political Risk 286 Country Risk Ratings 287 Accounting Practice and Tax Laws 288 Principal Accounting Practice Differences Across Countries 288 Origins of Differences in Accounting Practice 288 Classification Systems 288 International Taxation 291 Tax Jurisdictions 291 Tax Types 292 Labor Law 293 Sweden 293 Brazil 293 Legal Forms of Business Organization 295 Summary 295 Global. Learning Experience 8.1 United Europe Gaining in the Area of Law 265 Global. Learning Experience 8.2 Foreign Companies Held Liable for Non U.S. Price Fixing 268 Global. Learning Experience 8.3 730 Nations Agree on Biotech Food Rules 271 Global Learning experience 8.4 U.S. Loses Dispute on Export Sales 277 Global Learning Experience 8.S Singapore, World Execution Capital 279 Global Learning Experience 8.6 In China, the Lawyers Are Handcuffed 280 Global Learning Experience 8.7 Awash in Corruption 285 Global learning Experience 8.8 The Father of Accounting: Luca Pacioli Who? 289 Global learning Experience 8.9 U.S. Labor Law Reaches into the Pacific 294 Chapter 9 Organization, Management, and Control of Global Operations 298 Organizing the Global Enterprise 299 Organizational Structure 299 Organizational Designs 299 Grouping People and Physical Resources to Achieve Organizational Goals 303 ] Contents xxvii Decentralized versus Centralized Organizational Structures 309 i Other Factors Affecting Organizational Structure and Decisionmaking 310 \| The Networked Global Organization 311 The Multinational Corporation 313 The Multinational Corporation Defined 313 The World's Multinational Corporations 314 Foreign Direct Investment 316 Reasons for Foreign Direct Investment 316 The Host Country Perspective 318 The Negative Impact 319 The Home Country Perspective 320 Management of the Relationship 320 Dealing with Other Constituents 321 Managing Managers 322 Early Stages of Globalization 324 Advanced Stages of Globalization 324 \| Compensation 325 Repatriation 328 ; Managing Labor Personnel 329 i Labor Participation in Management 329 Human Resource Politics 331 Control 332 Exercising Control 337 Summary 338 Global, Learning Experience 9.t Characteristics of Success 300 I Global Learning Experience 9.2 International Best Practice Exchange 308 • Global learning Experience 9.3 Guanxi—The Web of Relationships 311 Global Learning Experience 9.4 Tact Can Seal a Global Deal. 312 Global Learning Experience 9.5 How to Manage Expatriates 322 GLOBAL LEARNING EXPERIENCE 9.6 Getting Compensated for the Overseas Assignment 327 Global Learning Experience 9.7 The Foreign Assignment—Will It Help Your Career or Hinder It? 328 Global Learning Experience 9.8 Global Unions vs. Global Companies 330 Global Learning Experience 9.9 Staying in Touch with a Global Organization 333 Part Three cases Video Case: A Taste of the West 343 : Mad Cow Disease 346 \| Ecologic Cooling: The Fridge from Eastern Germany 352 Comeback from a Near Death Experience: Audi of America 1992 1997 354 xxviii Contents Part Four Global Marketing 359 Chapter 1O Global Business and Marketing Research 361 The Strategic Planning Process 362 Analysis of Markets and Competition 362 Organizational Factors 363 Country Market Choice 363 Segmentation 363 Choice of Competitive Strategy 363 Recognizing the Need for Global Research 365 Target Market Selection 366 Identification and Screening 366 Concentration versus Diversification 372 Conducting Research 373 Identifying Sources of Data 373 Selection of Secondary Data 377 Analysis and Interpretation of Secondary Data 377 Conducting Primary Research 380 Industrial versus Consumer Sources of Data 381 Determining the Research Technique 381 Summary of Survey Methods 385 Scenario Building 386 Summary 387 Appendix 10A Monitors of International Issues 390 Appendix 10B Selected United States Government Publications and Services 396 Global Learning Experience 1O.1 Electronic Information Sources on the EU 364 Global Learning Experience 1O.2 Building Export Markets 368 Global learning Experience 1O.3 The Latin Web of Information 375 Global Learning Experience 1O.4 Market Research in Russia 382 Global Learning Experience IO.S In Tokyo, Finding the Correct Address Is Not Easy 384 Global Learning Experience 1O,6 What's in a Street Name? In Mexico City, Plenty! 385 Chapter 11 Global Business Entry 398 The Role of Management 400 Reasons to Go Abroad 400 Proactive Reasons 401 Reactive Reasons 402 Methods of Entering Global Markets 404 Indirect and Direct Exporting and Importing 404 Licensing 407 Franchising 408 . Contents xxix Contract Manufacturing 411 Management Contracts 412 Turnkey Operations 412 Complementary Marketing 413 Ownership/Equity Methods 413 Full Ownership 415 i Interfirm Cooperation 416 Strategic Alliances 417 f International Intermediaries 418 I Export Management Companies 418 Webb Pomerene Associations 419 Trading Companies 419 : International Facilitators 421 ; Summary 422 Global learning Experience 11.1 Cracking the Global Market Is No Piece of Cake 399 Global Learning Experience 11.2 Look before You Leap 404 Global learning Experience 11,3 Franchising Americana Abroad 409 Global Learning Experience 11.4 Feeding Japan's Appetite for Burgers 411 Global Learning Experience 11.5 \| Mickey and Minnie on the Road to Hong Kong 414 Chapter 12 The Marketing Mix for Products and Services 426 Marketing Management 427 Standardization versus Adaptation 427 i Products and Services 430 Product Policy 430 Pricing Policy 439 Promotional Policy 443 Place (Distribution) Policy 449 Channels of Distribution 449 Services Policy 453 The Role of Services in the U.S. Economy 455 The Role of Global Services in the World Economy 456 Global Transformations in the Services Sector 460 Starting to Offer Services Globally 461 Strategic Indications 462 Summary 463 ; Coca Cola Learns to Think Globally and Act Locally 429 j Global learmn?; ekphsi?«c;r 12.2 Budweiser Intensifies Marketing Abroad 434 Global leahninc. Exp6'««f'Ncr 12.3 Different Cultures Open New Export Markets 435 xxx Contents Global Learning Experience 12.4. Home Depot Begins Its Foreign Expansion 438 Global. Learning Experience 12.5 The World Capital of Counterfeit Goods 439 Global Learning Experience 12.6 An Advertising Checklist for Entering New Markets 447 Global Learning experience 12.7 A Promotion That Was Too Successful 448 Global learning Experience 12.S How Not to Run a Promotion 449 Global Learning Experience 12.9 The Problem of Finding Channels of Distribution in Japan 450 Global Learning Experience 12.1O Educating the World 455 Global Learning Experience 12.11 The Global Temp 458 Chapter 13 Physical Distribution 468 The Field of Physical Distribution 469 A Definition of International Physical Distribution 470 Differences between Domestic and International Physical Distribution 471 International Transportation 472 Infrastructure 472 Availability of Modes 473 Choice of Transportation Modes 479 Export Documentation 484 Terms of Shipment and Sale 485 International Inventory Issues 488 International Packaging Issues 490 International Storage Issues 493 Storage Facilities 493 Special Trade Zones 494 Distribution and the Environment 494 Summary 495 Global learning Experience 13.1 Asian Financial Crises Cause Shipping Problems 469 Global learning Experience 13.2 Pirates Still Roam the Seas 476 Global Learning Experience 13.3 Keeping Exported Produce Fresh 478 Global learning Experience 13.4 Late, Lost, and Damaged Goods 490 Global learning Experience 13.5 U.S. Auto Thieves Go Global 492 Part Four Cases Video Case: Lakewood Forest Products 498 Water from Iceland 500 f Contents xxxi The F 18 Hornet Offset 505 Aftermath of an Environmental Disaster: Union Carbide in Bhopal 512 Part Five International Finance and the Future 515 Chapter 14 International Finance 517 Financing Exports and Imports 518 Export/Import Financing 518 Types of Countertrade 523 j Financial Management 528 \ Overview of International Financial Management 528 j Operating and Financial Cash Flows 529 International Working Capital and Cash Flow Management 529 Cash Flow Management 529 " Managing the Payment of Receivables and Their Conversion into Cash 530 Techniques to Minimize the Need for Cash or Cash Outflows 530 Capital Structure: International Dimensions 531 The Capital Structure of the Firm 532 The Capital Structure of Foreign Subsidiaries 532 International Capital Markets 533 Defining International Financing 533 Driving Forces in the International Financial Markets 535 International Banking 537 \| Structure of International Banking 537 S Offshore Banking 538 International Bank Lending 538 ? International Security Markets 538 The Euronote Market 539 The International Bond Market 539 j International Equity Markets 540 J Private Placements 541 is \| Financial Risk Management 541 j Financial Price Risk and Firm Value 541 ¦ Classification of Foreign Currency Exposures 542 Transaction Exposure 543 Transaction Exposure Management 543 Economic Exposure 544 Impact of Economic Exposure 545 Economic Exposure Management 545 Translation Exposure 546 Translation Exposure Management 546 i Summary 547 I Global learning Experience 14.i Chinese Banks Holding Up Payments on Delivered Goods 518 Global Learning Experience 14.2 Offsets Help International Sales 525 xxxii Contents Global Learning Experience 14.3 Economic Exposure: Foreign Automakers in Mexico 544 Global Learning Experience 14.4 Management's Analysis 546 chapter IS The Future 550 The International Business Environment 552 The Political Environment 552 The International Financial Environment 556 The Effects of Population Shifts 558 The Technologic Environment 558 Changes in Trade Relations 560 Governmental Policy 560 The Future of Global Business Management 562 International Planning and Research 562 Global Product Policy 564 Global Communications 566 Distribution Strategies 566 Global Pricing 567 Careers in Global Business 567 Further Training 569 Employment with a Large Firm 569 Sources for Management Recruitment 572 Selection Criteria for Overseas Assignments 575 Employment with a Small or Medium Size Firm 577 Opportunities for Women in Global Management 579 Summary 580 Global Learning Experience 1S.1 Riding the Global Wave to the Top 551 Global Learning Experience 15.2 Lenders Target Women in the Developing World 554 Global Learning Experience 15.3 Global Shopping at the Cybermall 559 Global, learning Experience 1S.4 Preparing for an International Assignment 578 English glossary GL 1 Spanish Glossary GL 12 Photo Credits p 1 Author Index i f Subject index 1 5
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