International business: the challenges of globalization
Gespeichert in:
| Hauptverfasser: | , |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Harlow, England
Pearson
[2024]
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| Ausgabe: | 10. edition, global edition |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | 449 Seiten Illustrationen |
| ISBN: | 9781292450315 |
Internformat
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Contents Preface 16 About the Authors 25 PARTI Global Business Environment 26 Chapter 1 GlobalizationToday 26 Apple's Global IMpact 27 1.1 Introduction and Key Players 28 1.1.1 Key Players in International Business 30 • GLOBAL MANAGER:The Keys to Global Success 31 1.2 What is Globalization? 31 1.2.1 Evolution of Globalization 33 1.2.2 Globalization of Markets 34 1.2.3 Globalization of Production 38 1.3 Drivers of Globalization 39 1.3.1 Falling Barriers toTrade and Investment 39 1.3.2 Global E-commerce 41 1.3.3 DigitalTransformation 42 1.3.4 Communication andTransportation 43 1.4 Globalization Debate 45 1.4.1 Globalization Harms Jobs and Wages 45 1.4.2 Globalization Improves Jobs and Wages 45 1.4.3 Debate about Income Inequality 46 1.4.4 Globalization and Culture 48 • CULTURE INSIGHTS:The Culture Debate 48 1.4.5 Globalization and National Sovereignty 49 1.4.6 Globalization and the Environment 49 1.5 Workplace Skills 50 1.5.1 Skills forYour Career 50 1.5.2 The Global Business Environment 52 Chapter Summary 53 · Key Terms 54 · Talk About It 55 Teaming Up 55 · Ethical Challenge 55 · Writing Assignments 55 • PRACTICING INTERNATIONAL MANAGEMENT CASE 56 Appendix World Atlas 57 Chapter 2 Ethics, Social Responsibility, and Sustainability 66 Tony's Chocolonely 67 2.1 Ethics Theories 69 2.1.1 Utilitarianism 70 2.1.2 Rights Theory 70 2.1.3 Theory of Justice 71 2.1.4 Cultural Relativism 72 2.2 Business Ethics 72 2.2.1 Resolving Ethical Dilemmas 73 2.2.2 Codes of Ethics 74 2.2.3 Sources of Unethical Behavior 75 5
6 CONTENTS 2.3 Corporate Social Responsibility 76 2.3.1 Efficiency and Profits as Social Responsibility 76 2.3.2 Business Responsibilities to Society 77 • CULTURE INSIGHTS: Speaking in FewerTongues 78 2.3.3 StakeholderTheory 79 2.4 Sustainability 80 2.4.1 Carbon Footprints and Climate Change 81 • GLOBAL MANAGER: Th ree Sustainable Strategies forThree Markets 82 2.4.2 A Circular Economy 82 2.4.3 Greenwashing 83 2.5 Additional Key Global Issues 85 2.5.1 Bribery and Corruption 85 2.5.2 Working Conditions and Human Rights 86 2.5.3 Diversity, Equity, and Inclusion 87 Chapter Summary 90 Teaming Up 92 · · Key Terms 91 Ethical Challenge 92 · Talk About It 92 · Writing Assignments 92 • PRACTICING INTERNATIONAL MANAGEMENT CASE 93 PART 2 National Business Environment 94 Chapter3 Cross-Cultural Business 94 Vans: Off The Wall 95 3.1 What Is Culture? 96 3.1.1 Cross-Cultural Literacy 96 3.1.2 National Culture 98 3.1.3 Subcultures 98 3.1.4 Physical Environment 99 3.1.5 Material Culture 100 3.2 Values, Attitudes, and Behavior 100 3.2.1 Values 100 3.2.2 Attitudes 100 3.2.3 Aesthetics 101 3.2.4 Behaviors 101 • CULTURE INSIGHTS: A Globetrotter's Guide to Meetings 102 3.3 Social Structure and Education 103 3.3.1 Social Group Associations 103 3.3.2 Social Status 104 3.3.3 Social Mobility 105 3.3.4 Education 108 • GLOBAL MANAGER: Social Flexibility 109 3.4 Religion 109 3.4.1 Christianity 109 3.4.2 Islam 112 3.4.3 Hinduism 112 3.4.4 Buddhism 114 3.4.5 Judaism 114 3.4.6 Confucianism 115 3.5 Personal Communication 115 3.5.1 Spoken and Written Language 115 3.5.2 Body Language 117 3.6 Culture in the
Global Workplace 118 3.6.1 Perception ofTime 118 3.6.2 View of Work 118
CONTENTS 3.6.3 Cultural Change 119 3.6.4 Kluckhohn-Strodtbeck Framework 120 3.6.5 Hofstede Framework 121 Chapter Summary 123 Teaming Up 125 · · Key Terms 125 Ethical Challenge 125 · Talk About It 125 · Writing Assignments 126 • PRACTICING INTERNATIONAL MANAGEMENT CASE 127 Chapter 4 Political, Economic, and Legal Systems 128 TikTok Rocks 129 4.1 Political Systems 130 4.1.1 Totalitarianism 131 • GLOBAL MANAGER: From Civil War to Civil Society 132 4.1.2 Democracy 134 4.2 Economic Systems 135 4.2.1 Centrally Planned Economy 136 4.2.2 Mixed Economy 137 4.2.3 Market Economy 138 4.3 Legal Systems 142 4.3.1 Common Law 143 4.3.2 Civil Law 143 • CULTURE INSIGHTS: Playing by the Rules 144 4.3.3 Theocratic Law 144 4.4 Global Legal Issues 144 4.4.1 Intellectual Property 145 4.4.2 Product Safety and Liability 147 4.4.3 Antitrust Regulations 148 4.4.4 Taxation 148 Chapter Summary 149 Teaming Up 150 · · Key Terms 149 Ethical Challenge 150 · Talk About It 150 · Writing Assignments 150 • PRACTICING INTERNATIONAL MANAGEMENT CASE 151 Chapters Economic Development of Nations 152 Paytm in India 153 5.1 Economic Development 154 5.1.1 Classifying Countries 154 5.1.2 National Production 156 5.1.3 Purchasing Power Parity 157 5.1.4 Human Development 157 5.2 Political Risk 160 5.2.1 Conflict and Violence 160 • GLOBAL MANAGER:Your Global Security Checklist 161 5.2.2 Property Seizure 161 5.2.3 Government Policies 162 5.3 Managing Political Risk 163 5.3.1 Adaptation 163 5.3.2 Information Gathering 164 5.3.3 Political Influence 164 5.3.4 International Relations 164 5.3.5 The United Nations 165 5.4
EconomicTransition 166 5.4.1 Transition Obstacles 166 5.4.2 China's EconomicTransition 167 • CULTURE INSIGHTS: Guidelines for Good Guanxi 168 5.4.3 Russia's EconomicTransition 169 7
8 CONTENTS Chapter Summary 170 Teaming Up 171 · · Key Terms 171 Ethical Challenge 172 · Talk About It 171 · Writing Assignments 172 • PRACTICING INTERNATIONAL MANAGEMENT CASE 173 PART 3 International Trade and Investment 174 Chapter6 International TradeTheory 174 Tesla Charges Ahead 175 6.1 The Nature of International Trade 176 6.1.1 Benefits ofTrade 176 6.1.2 Economic Importance ofTrade 177 6.1.3 TopTrading Nations 177 6.1.4 GlobalTrade and Output 180 6.1.5 Trade Interdependence 180 • CULTURE INSIGHTS: Business Culture in the Pacific Rim 181 6.2 Mercantilism 181 6.2.1 How Mercantilism Worked 182 6.2.2 Flaws of Mercantilism 182 6.3 Theories of Absolute and Comparative Advantage 183 6.3.1 Absolute Advantage 183 6.3.2 Comparative Advantage 185 6.4 Factor Proportions Theory 187 6.4.1 LaborVersus Land and Capital Equipment 187 6.4.2 Evidence on Factor ProportionsTheory:The Leontief Paradox 188 6.5 International Product Life Cycle 188 6.5.1 Stages of the Product Life Cycle 188 6.5.2 Limitations of theTheory 189 • GLOBAL MANAGER: Five Fulfillment Mistakes 190 6.6 NewTradeTheory 190 6.6.1 First-Mover Advantage 190 6.7 National Competitive Advantage 191 6.7.1 Factor Conditions 191 6.7.2 Demand Conditions 192 6.7.3 Related and Supporting Industries 193 6.7.4 Firm Strategy, Structure, and Rivalry 193 6.7.5 Government and Chance 193 Chapter Summary 194 Teaming Up 195 · · Key Terms 195 Ethical Challenge 196 · Talk About It 195 · Writing Assignments 196 • PRACTICING INTERNATIONAL MANAGEMENT CASE 197 Chapter 7 Governments and Trade 198 Netflix Reinvents TV 1Э9 7.1 Why Do Governments
Intervene in Trade? 200 7.1.1 Political Motives 200 • CULTURE INSIGHTS: A Culture of Business Security 202 7.1.2 Economic Motives 203 7.1.3 Cultural Motives 204 7.2 Instruments ofTrade Promotion 205 7.2.1 Subsidies 205 7.2.2 Export Assistance 206 • GLOBAL MANAGER: Experts in Exporting 206 7.2.3 ForeignTrade Zones 207 7.2.4 Special Government Agencies 207
CONTENTS 7.3 Instruments of Trade Restriction 208 7.3.1 Tariffs 208 7.3.2 Quotas 209 7.3.3 Other Nontariff Barriers 210 7.4 Global Trading System 211 7.4.1 General Agreement onTariffs andTrade (GATT) 212 7.4.2 WorldTrade Organization (WTO) 213 Chapter Summary 216 Teaming Up 217 · · Key Terms 217 · Talk About It 217 Ethical Challenge 217 · Writing Assignments 218 • PRACTICING INTERNATIONAL MANAGEMENT CASE 219 Chapter 8 Foreign Direct Investment 220 Spotify for Every Mood 221 8.1 The Nature of Foreign Direct Investment 222 8.1.1 Forms of Foreign Direct Investment 222 • CULTURE INSIGHTS: Cross-Cultural Mergers and Acquisitions 223 8.1.2 Worldwide Flows of FDI 223 8.1.3 Recipients and Sources of FDI 224 8.2 Theories of Foreign Direct Investment 226 8.2.1 International Product Life Cycle 226 8.2.2 Market Imperfections 227 8.2.3 Eclectic Theory 228 8.2.4 Market Power 228 8.3 Management Issues and Foreign Direct Investment 228 8.3.1 Control 228 8.3.2 Purchase-or-Build Decision 230 8.3.3 Production Costs 230 • GLOBAL MANAGER: Surprises of Investing Abroad 230 8.3.4 Customer Knowledge 232 8.3.5 Following Clients 232 8.3.6 Following Rivals 232 8.4 Why Governments Intervene in FDI 233 8.4.1 Balance of Payments 233 8.4.2 Reasons for Intervention by the Host Country 233 8.4.3 Reasons for Intervention by the Home Country 234 8.5 Government Policy Instruments and FDI 235 8.5.1 Host Countries: Promotion 235 8.5.2 Host Countries: Restriction 237 8.5.3 Home Countries: Promotion 237 8.5.4 Home Countries: Restriction 237 Chapter Summary 238 Teaming Up 239 · · Key Terms 239 Ethical Challenge
239 · Talk About It 239 · Writing Assignments 240 • PRACTICING INTERNATIONAL MANAGEMENT CASE 241 Chapter 9 Regional Economic Integration 242 Nestle's Global Recipe 243 9.1 The Nature of Regional Integration Efforts 244 9.1.1 Levels of Regional Integration 244 9.1.2 The Case for Regional Integration 245 9.1.3 The Case Against Regional Integration 247 9.2 Integration in Europe 249 9.2.1 European Union 249 • CULTURE INSIGHTS: Doing Business in the Czech Republic 253 9.2.2 European FreeTrade Association (EFTA) 255 9
10 CONTENTS 9.3 Integration in the Americas 256 9.3.1 United States-Mexico-Canada Agreement (USMCA) 256 9.3.2 Central American FreeTrade Agreement (CAFTA-DR) 258 9.3.3 Andean Community (CAN) 259 9.3.4 Southern Common Market (MERCOSUR) 259 9.3.5 Central America and the Caribbean 259 9.4 Integration in Asia and Africa 260 9.4.1 Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) 260 9.4.2 Association of Southeast Asian Nations (ASEAN) 260 • GLOBAL MANAGER:The Ins and Outs of ASEAN 260 9.4.3 Regional Comprehensive Economic Partnership (RCEP) 261 9.4.4 Asia Pacific Economic Cooperation (APEC) 261 9.4.5 Africa's Integration Efforts 262 Chapter Summary 263 Teaming Up 264 · · · Talk About It 264 Key Terms 264 Ethical Challenge 264 · Writing Assignments 264 • PRACTICING INTERNATIONAL MANAGEMENT CASE 205 PART 4 International Financial System 266 Chapter 10 International Financial Markets 266 Samsung's Number Won 267 10.1 The International Capital Market 268 10.1.1 Benefits of the International Capital Market 268 10.1.2 International Bond Market 269 • CULTURE INSIGHTS: Big Results from Microfinance 270 10.1.3 International Equity Market 270 10.1.4 Eurocurrency Market 271 10.2 The Foreign Exchange Market 272 10.2.1 Functions of the Foreign Exchange Market 272 10.2.2 Exchange-Rate Risk 274 10.3 Currency Rates and Instruments 276 10.3.1 Spot and Forward Rates 276 10.3.2 Forward Contracts, Swaps, and Options 276 10.4 Market Structure and Convertibility 278 10.4.1 Financial Centers 278 • GLOBAL MANAGER: Managing Foreign Exchange 279 10.4.2 Interbank Market 279
10.4.3 Currency Convertibility 279 Chapter Summary 281 Teaming Up 282 · · Key Terms 282 · Talk About It 282 Ethical Challenge 282 · Writing Assignments 282 • PRACTICING INTERNATIONAL MANAGEMENT CASE 283 Chapter 11 International Monetary System 284 The Euro 285 11.1 Importance of Currency Values 286 11.1.1 Desire for Stability and Predictability 287 11.1.2 Efficient Versus Inefficient Market View 287 11.1.3 ForecastingTechniques 288 • CULTURE INSIGHTS:The Long Arm of the Law 288 11.2 FactorsThat Determine Exchange Rates 289 11.2.1 Law of One Price 289 11.2.2 Purchasing Power Parity 289 11.2.3 Evaluating Purchasing Power Parity 291
CONTENTS 11.3 Fixed Exchange-Rate Systems 292 11.3.1 The Gold Standard 292 11.3.2 Bretton Woods Agreement 294 11.4 Floating Exchange-Rate System 296 11.4.1 Today's Exchange-Rate Arrangements 297 11.4.2 Recent Financial Crises 297 • GLOBAL MANAGER: Adjusting to Currency Swings 297 11.4.3 Future of the International Monetary System 300 Chapter Summary 300 Teaming Up 302 · · Key Terms 301 Ethical Challenge 302 · Talk About It 302 · Writing Assignments 302 • PRACTICING INTERNATIONAL MANAGEMENT CASE 303 PART 5 International Business Management 304 Chapter 12 International Strategy and Organization 304 Ryanair Soars Above 305 12.1 Company Analysis 306 12.1.1 Company Mission and Goals 306 12.1.2 Core Competency andValue Creation 307 12.1.3 Business Environment 309 • CULTURE INSIGHTS: Researching Business Environments 310 12.2 Strategy Formulation 310 12.2.1 Two International Strategies 310 12.2.2 Corporate-Level Strategies 312 12.2.3 Business-Level Strategies 312 12.2.4 Department-Level Strategies 314 • GLOBAL MANAGER: Questions to Ask Before Going International 315 12.3 Issues of Organizational Structure 315 12.3.1 Centralization Versus Decentralization 315 12.3.2 Coordination and Flexibility 316 12.4 Types of Organizational Structure 317 12.4.1 International Division Structure 317 12.4.2 International Area Structure 318 12.4.3 Global Product Structure 318 12.4.4 Global Matrix Structure 319 12.4.5 WorkTeams 320 Chapter Summary 321 Teaming Up 322 · · Key Terms 322 Ethical Challenge 322 · Talk About It 322 · Writing Assignments 322 • PRACTICING INTERNATIONAL MANAGEMENT CASE 323
Chapter 13 Analyzing International Opportunities 324 Starbucks' Global Expansion 325 13.1 Basic Appeal and National Factors 326 13.1.1 Identify Basic Appeal 326 13.1.2 Assess the National Business Environment 327 * GLOBAL MANAGER: Expanding Globally Online 330 13.2 Measure and Select the Market or Site 330 13.2.1 Measure Market or Site Potential 330 13.2.2 Select the Market or Site 334 13.3 Secondary Market Research 335 13.3.1 Public Information Sources 336 13.3.2 Private Information Sources 337 13.3.3 Issues with Secondary Research 337 11
12 CONTENTS 13.4 Primary Market Research 339 13.4.1 Trade Shows andTrade Missions 339 • CULTURE INSIGHTS: Is the World Your Oyster? 340 13.4.2 Interviews and Focus Groups 340 13.4.3 Surveys and Environmental Scanning 341 13.4.4 Issues with Primary Research 341 Chapter Summary 342 Teaming Up 343 · · Key Terms 343 Ethical Challenge 343 · Talk About It 343 · Writing Assignments 344 • PRACTICING INTERNATIONAL MANAGEMENT CASE 345 Chapter 14 Selecting and Managing Entry Modes 346 Marvel Entertains 347 14.1 Exporting and Countertrade 348 14.1.1 Why Companies Export 348 14.1.2 Developing an Export Strategy: A Four-Step Model 349 14.1.3 Degree of Export Involvement 350 14.1.4 Countertrade 352 14.2 Export/Jmport Financing 353 14.2.1 Advance Payment 353 14.2.2 Documentary Collection 353 14.2.3 Letter of Credit 354 14.2.4 Open Account 355 • GLOBAL MANAGER: Collecting International Debts 356 14.3 Contractual Entry Modes 356 14.3.1 Licensing 356 14.3.2 Franchising 357 14.3.3 Management Contracts 359 14.3.4 Turnkey Projects 359 14.4 Investment Entry Modes 360 14.4.1 Wholly Owned Subsidiaries 360 14.4.2 Jointventures 361 14.4.3 Strategic Alliances 362 14.4.4 Partner Selection 363 • CULTURE INSIGHTS: Negotiating Market Entry 364 Chapter Summary 364 Teaming Up 366 · · Key Terms 365 Ethical Challenge 366 · Talk About It 365 · Writing Assignments 366 • PRACTICING INTERNATIONAL MANAGEMENT CASE 367 Chapter 15 Developing and Marketing Products 368 Wings for Life 369 15.1 Developing Product Strategies 370 15.1.1 Laws and Culture 370 15.1.2 Brand and Product Names 371 15.1.3 Other Product Issues
372 15.2 Creating Promotional Strategies 373 15.2.1 Push and Pull Strategies 373 • GLOBAL MANAGER: Managing an International Sales Force 373 15.2.2 International Advertising 374 15.2.3 Communicating Promotional Messages 375 15.2.4 Blending Product and Promotional Strategies 376 • CULTURE INSIGHTS: Localizing Digital Advertising 377 15.3 Designing Distribution Strategies 378 15.3.1 Designing Distribution Channels 378 15.3.2 Special Distribution Issues 379
CONTENTS 15.4 Developing Pricing Strategies 380 15.4.1 Worldwide Pricing 380 15.4.2 Dual Pricing 380 15.4.3 Factors That Affect Pricing Decisions 381 Chapter Summary 382 Teaming Up 384 · · Key Terms 383 · Talk About It 383 · Writing Assignments 384 Ethical Challenge 384 • PRACTICING INTERNATIONAL MANAGEMENT CASE 385 Chapter 16 Managing International Operations 386 Toyota Races Ahead 387 16.1 Production Strategy 388 16.1.1 Capacity Planning 388 16.1.2 Facilities Location Planning 388 16.1.3 Process Planning 390 16.1.4 Facilities Layout Planning 391 16.2 Acquiring Physical Resources 391 16.2.1 Reasons to Make 392 16.2.2 Reasons to Buy 393 16.2.3 Raw Materials 394 16.2.4 Fixed Assets 394 16.3 Key Production Concerns 395 16.3.1 Quality Improvement Efforts 395 • GLOBAL MANAGER: World-Class Standards 396 16.3.2 Shipping and Inventory Costs 396 16.3.3 Reinvestment versus Divestment 396 16.4 Financing Business Operations 397 16.4.1 Borrowing 397 16.4.2 Issuing Equity 398 16.4.3 Internal Funding 399 • CULTURE INSIGHTS: Financing Business from Abroad ՅՑՑ 16.4.4 Capital Structure 400 Chapter Summary 401 Teaming Up 402 · · Key Terms 402 Ethical Challenge 402 · Talk About It 402 · Writing Assignments 402 • PRACTICING INTERNATIONAL MANAGEMENT CASE 403 Chapter 17 Hiring and Managing Employees 404 IKEA Togetherness 405 17.1 International Staffing Policies 406 17.1.1 Ethnocentric Staffing 406 17.1.2 Polycentric Staffing 408 17.1.3 Geocentric Staffing 408 17.2 Recruiting and Selecting Human Resources 409 17.2.1 Human Resource Planning 409 * GLOBAL MANAGER: Growing Global 409 17.2.2
Recruiting Human Resources 410 17.2.3 Selecting Human Resources 410 17.2.4 Culture Shock 411 17.2.5 Reverse Culture Shock 411 • CULTURE INSIGHTS: A Shocking Ordeal 412 17.3 Training and Development 413 17.3.1 Methods of CulturalTraining 413 17.3.2 Compiling a Cultural Profile 414 17.3.3 Nonmanagerial WorkerTraining 414 13
14 CONTENTS 17.4 Compensation, Labor, and Management 415 17.4.1 Managerial Employees 415 17.4.2 Nonmanagerial Workers 416 17.4.3 Labor-Management Relations 416 Chapter Summary 418 Teaming Up 419 · · Key Terms 419 Ethical Challenge 420 · • PRACTICING INTERNATIONAL MANAGEMENT CASE 421 Endnotes 422 Glossary 435 Name Index 443 Subject Index 445 Talk About It 419 · Writing Assignments 420 |
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Contents Preface 16 About the Authors 25 PARTI Global Business Environment 26 Chapter 1 GlobalizationToday 26 Apple's Global IMpact 27 1.1 Introduction and Key Players 28 1.1.1 Key Players in International Business 30 • GLOBAL MANAGER:The Keys to Global Success 31 1.2 What is Globalization? 31 1.2.1 Evolution of Globalization 33 1.2.2 Globalization of Markets 34 1.2.3 Globalization of Production 38 1.3 Drivers of Globalization 39 1.3.1 Falling Barriers toTrade and Investment 39 1.3.2 Global E-commerce 41 1.3.3 DigitalTransformation 42 1.3.4 Communication andTransportation 43 1.4 Globalization Debate 45 1.4.1 Globalization Harms Jobs and Wages 45 1.4.2 Globalization Improves Jobs and Wages 45 1.4.3 Debate about Income Inequality 46 1.4.4 Globalization and Culture 48 • CULTURE INSIGHTS:The Culture Debate 48 1.4.5 Globalization and National Sovereignty 49 1.4.6 Globalization and the Environment 49 1.5 Workplace Skills 50 1.5.1 Skills forYour Career 50 1.5.2 The Global Business Environment 52 Chapter Summary 53 · Key Terms 54 · Talk About It 55 Teaming Up 55 · Ethical Challenge 55 · Writing Assignments 55 • PRACTICING INTERNATIONAL MANAGEMENT CASE 56 Appendix World Atlas 57 Chapter 2 Ethics, Social Responsibility, and Sustainability 66 Tony's Chocolonely 67 2.1 Ethics Theories 69 2.1.1 Utilitarianism 70 2.1.2 Rights Theory 70 2.1.3 Theory of Justice 71 2.1.4 Cultural Relativism 72 2.2 Business Ethics 72 2.2.1 Resolving Ethical Dilemmas 73 2.2.2 Codes of Ethics 74 2.2.3 Sources of Unethical Behavior 75 5
6 CONTENTS 2.3 Corporate Social Responsibility 76 2.3.1 Efficiency and Profits as Social Responsibility 76 2.3.2 Business Responsibilities to Society 77 • CULTURE INSIGHTS: Speaking in FewerTongues 78 2.3.3 StakeholderTheory 79 2.4 Sustainability 80 2.4.1 Carbon Footprints and Climate Change 81 • GLOBAL MANAGER: Th ree Sustainable Strategies forThree Markets 82 2.4.2 A Circular Economy 82 2.4.3 Greenwashing 83 2.5 Additional Key Global Issues 85 2.5.1 Bribery and Corruption 85 2.5.2 Working Conditions and Human Rights 86 2.5.3 Diversity, Equity, and Inclusion 87 Chapter Summary 90 Teaming Up 92 · · Key Terms 91 Ethical Challenge 92 · Talk About It 92 · Writing Assignments 92 • PRACTICING INTERNATIONAL MANAGEMENT CASE 93 PART 2 National Business Environment 94 Chapter3 Cross-Cultural Business 94 Vans: Off The Wall 95 3.1 What Is Culture? 96 3.1.1 Cross-Cultural Literacy 96 3.1.2 National Culture 98 3.1.3 Subcultures 98 3.1.4 Physical Environment 99 3.1.5 Material Culture 100 3.2 Values, Attitudes, and Behavior 100 3.2.1 Values 100 3.2.2 Attitudes 100 3.2.3 Aesthetics 101 3.2.4 Behaviors 101 • CULTURE INSIGHTS: A Globetrotter's Guide to Meetings 102 3.3 Social Structure and Education 103 3.3.1 Social Group Associations 103 3.3.2 Social Status 104 3.3.3 Social Mobility 105 3.3.4 Education 108 • GLOBAL MANAGER: Social Flexibility 109 3.4 Religion 109 3.4.1 Christianity 109 3.4.2 Islam 112 3.4.3 Hinduism 112 3.4.4 Buddhism 114 3.4.5 Judaism 114 3.4.6 Confucianism 115 3.5 Personal Communication 115 3.5.1 Spoken and Written Language 115 3.5.2 Body Language 117 3.6 Culture in the
Global Workplace 118 3.6.1 Perception ofTime 118 3.6.2 View of Work 118
CONTENTS 3.6.3 Cultural Change 119 3.6.4 Kluckhohn-Strodtbeck Framework 120 3.6.5 Hofstede Framework 121 Chapter Summary 123 Teaming Up 125 · · Key Terms 125 Ethical Challenge 125 · Talk About It 125 · Writing Assignments 126 • PRACTICING INTERNATIONAL MANAGEMENT CASE 127 Chapter 4 Political, Economic, and Legal Systems 128 TikTok Rocks 129 4.1 Political Systems 130 4.1.1 Totalitarianism 131 • GLOBAL MANAGER: From Civil War to Civil Society 132 4.1.2 Democracy 134 4.2 Economic Systems 135 4.2.1 Centrally Planned Economy 136 4.2.2 Mixed Economy 137 4.2.3 Market Economy 138 4.3 Legal Systems 142 4.3.1 Common Law 143 4.3.2 Civil Law 143 • CULTURE INSIGHTS: Playing by the Rules 144 4.3.3 Theocratic Law 144 4.4 Global Legal Issues 144 4.4.1 Intellectual Property 145 4.4.2 Product Safety and Liability 147 4.4.3 Antitrust Regulations 148 4.4.4 Taxation 148 Chapter Summary 149 Teaming Up 150 · · Key Terms 149 Ethical Challenge 150 · Talk About It 150 · Writing Assignments 150 • PRACTICING INTERNATIONAL MANAGEMENT CASE 151 Chapters Economic Development of Nations 152 Paytm in India 153 5.1 Economic Development 154 5.1.1 Classifying Countries 154 5.1.2 National Production 156 5.1.3 Purchasing Power Parity 157 5.1.4 Human Development 157 5.2 Political Risk 160 5.2.1 Conflict and Violence 160 • GLOBAL MANAGER:Your Global Security Checklist 161 5.2.2 Property Seizure 161 5.2.3 Government Policies 162 5.3 Managing Political Risk 163 5.3.1 Adaptation 163 5.3.2 Information Gathering 164 5.3.3 Political Influence 164 5.3.4 International Relations 164 5.3.5 The United Nations 165 5.4
EconomicTransition 166 5.4.1 Transition Obstacles 166 5.4.2 China's EconomicTransition 167 • CULTURE INSIGHTS: Guidelines for Good Guanxi 168 5.4.3 Russia's EconomicTransition 169 7
8 CONTENTS Chapter Summary 170 Teaming Up 171 · · Key Terms 171 Ethical Challenge 172 · Talk About It 171 · Writing Assignments 172 • PRACTICING INTERNATIONAL MANAGEMENT CASE 173 PART 3 International Trade and Investment 174 Chapter6 International TradeTheory 174 Tesla Charges Ahead 175 6.1 The Nature of International Trade 176 6.1.1 Benefits ofTrade 176 6.1.2 Economic Importance ofTrade 177 6.1.3 TopTrading Nations 177 6.1.4 GlobalTrade and Output 180 6.1.5 Trade Interdependence 180 • CULTURE INSIGHTS: Business Culture in the Pacific Rim 181 6.2 Mercantilism 181 6.2.1 How Mercantilism Worked 182 6.2.2 Flaws of Mercantilism 182 6.3 Theories of Absolute and Comparative Advantage 183 6.3.1 Absolute Advantage 183 6.3.2 Comparative Advantage 185 6.4 Factor Proportions Theory 187 6.4.1 LaborVersus Land and Capital Equipment 187 6.4.2 Evidence on Factor ProportionsTheory:The Leontief Paradox 188 6.5 International Product Life Cycle 188 6.5.1 Stages of the Product Life Cycle 188 6.5.2 Limitations of theTheory 189 • GLOBAL MANAGER: Five Fulfillment Mistakes 190 6.6 NewTradeTheory 190 6.6.1 First-Mover Advantage 190 6.7 National Competitive Advantage 191 6.7.1 Factor Conditions 191 6.7.2 Demand Conditions 192 6.7.3 Related and Supporting Industries 193 6.7.4 Firm Strategy, Structure, and Rivalry 193 6.7.5 Government and Chance 193 Chapter Summary 194 Teaming Up 195 · · Key Terms 195 Ethical Challenge 196 · Talk About It 195 · Writing Assignments 196 • PRACTICING INTERNATIONAL MANAGEMENT CASE 197 Chapter 7 Governments and Trade 198 Netflix Reinvents TV 1Э9 7.1 Why Do Governments
Intervene in Trade? 200 7.1.1 Political Motives 200 • CULTURE INSIGHTS: A Culture of Business Security 202 7.1.2 Economic Motives 203 7.1.3 Cultural Motives 204 7.2 Instruments ofTrade Promotion 205 7.2.1 Subsidies 205 7.2.2 Export Assistance 206 • GLOBAL MANAGER: Experts in Exporting 206 7.2.3 ForeignTrade Zones 207 7.2.4 Special Government Agencies 207
CONTENTS 7.3 Instruments of Trade Restriction 208 7.3.1 Tariffs 208 7.3.2 Quotas 209 7.3.3 Other Nontariff Barriers 210 7.4 Global Trading System 211 7.4.1 General Agreement onTariffs andTrade (GATT) 212 7.4.2 WorldTrade Organization (WTO) 213 Chapter Summary 216 Teaming Up 217 · · Key Terms 217 · Talk About It 217 Ethical Challenge 217 · Writing Assignments 218 • PRACTICING INTERNATIONAL MANAGEMENT CASE 219 Chapter 8 Foreign Direct Investment 220 Spotify for Every Mood 221 8.1 The Nature of Foreign Direct Investment 222 8.1.1 Forms of Foreign Direct Investment 222 • CULTURE INSIGHTS: Cross-Cultural Mergers and Acquisitions 223 8.1.2 Worldwide Flows of FDI 223 8.1.3 Recipients and Sources of FDI 224 8.2 Theories of Foreign Direct Investment 226 8.2.1 International Product Life Cycle 226 8.2.2 Market Imperfections 227 8.2.3 Eclectic Theory 228 8.2.4 Market Power 228 8.3 Management Issues and Foreign Direct Investment 228 8.3.1 Control 228 8.3.2 Purchase-or-Build Decision 230 8.3.3 Production Costs 230 • GLOBAL MANAGER: Surprises of Investing Abroad 230 8.3.4 Customer Knowledge 232 8.3.5 Following Clients 232 8.3.6 Following Rivals 232 8.4 Why Governments Intervene in FDI 233 8.4.1 Balance of Payments 233 8.4.2 Reasons for Intervention by the Host Country 233 8.4.3 Reasons for Intervention by the Home Country 234 8.5 Government Policy Instruments and FDI 235 8.5.1 Host Countries: Promotion 235 8.5.2 Host Countries: Restriction 237 8.5.3 Home Countries: Promotion 237 8.5.4 Home Countries: Restriction 237 Chapter Summary 238 Teaming Up 239 · · Key Terms 239 Ethical Challenge
239 · Talk About It 239 · Writing Assignments 240 • PRACTICING INTERNATIONAL MANAGEMENT CASE 241 Chapter 9 Regional Economic Integration 242 Nestle's Global Recipe 243 9.1 The Nature of Regional Integration Efforts 244 9.1.1 Levels of Regional Integration 244 9.1.2 The Case for Regional Integration 245 9.1.3 The Case Against Regional Integration 247 9.2 Integration in Europe 249 9.2.1 European Union 249 • CULTURE INSIGHTS: Doing Business in the Czech Republic 253 9.2.2 European FreeTrade Association (EFTA) 255 9
10 CONTENTS 9.3 Integration in the Americas 256 9.3.1 United States-Mexico-Canada Agreement (USMCA) 256 9.3.2 Central American FreeTrade Agreement (CAFTA-DR) 258 9.3.3 Andean Community (CAN) 259 9.3.4 Southern Common Market (MERCOSUR) 259 9.3.5 Central America and the Caribbean 259 9.4 Integration in Asia and Africa 260 9.4.1 Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) 260 9.4.2 Association of Southeast Asian Nations (ASEAN) 260 • GLOBAL MANAGER:The Ins and Outs of ASEAN 260 9.4.3 Regional Comprehensive Economic Partnership (RCEP) 261 9.4.4 Asia Pacific Economic Cooperation (APEC) 261 9.4.5 Africa's Integration Efforts 262 Chapter Summary 263 Teaming Up 264 · · · Talk About It 264 Key Terms 264 Ethical Challenge 264 · Writing Assignments 264 • PRACTICING INTERNATIONAL MANAGEMENT CASE 205 PART 4 International Financial System 266 Chapter 10 International Financial Markets 266 Samsung's Number Won 267 10.1 The International Capital Market 268 10.1.1 Benefits of the International Capital Market 268 10.1.2 International Bond Market 269 • CULTURE INSIGHTS: Big Results from Microfinance 270 10.1.3 International Equity Market 270 10.1.4 Eurocurrency Market 271 10.2 The Foreign Exchange Market 272 10.2.1 Functions of the Foreign Exchange Market 272 10.2.2 Exchange-Rate Risk 274 10.3 Currency Rates and Instruments 276 10.3.1 Spot and Forward Rates 276 10.3.2 Forward Contracts, Swaps, and Options 276 10.4 Market Structure and Convertibility 278 10.4.1 Financial Centers 278 • GLOBAL MANAGER: Managing Foreign Exchange 279 10.4.2 Interbank Market 279
10.4.3 Currency Convertibility 279 Chapter Summary 281 Teaming Up 282 · · Key Terms 282 · Talk About It 282 Ethical Challenge 282 · Writing Assignments 282 • PRACTICING INTERNATIONAL MANAGEMENT CASE 283 Chapter 11 International Monetary System 284 The Euro 285 11.1 Importance of Currency Values 286 11.1.1 Desire for Stability and Predictability 287 11.1.2 Efficient Versus Inefficient Market View 287 11.1.3 ForecastingTechniques 288 • CULTURE INSIGHTS:The Long Arm of the Law 288 11.2 FactorsThat Determine Exchange Rates 289 11.2.1 Law of One Price 289 11.2.2 Purchasing Power Parity 289 11.2.3 Evaluating Purchasing Power Parity 291
CONTENTS 11.3 Fixed Exchange-Rate Systems 292 11.3.1 The Gold Standard 292 11.3.2 Bretton Woods Agreement 294 11.4 Floating Exchange-Rate System 296 11.4.1 Today's Exchange-Rate Arrangements 297 11.4.2 Recent Financial Crises 297 • GLOBAL MANAGER: Adjusting to Currency Swings 297 11.4.3 Future of the International Monetary System 300 Chapter Summary 300 Teaming Up 302 · · Key Terms 301 Ethical Challenge 302 · Talk About It 302 · Writing Assignments 302 • PRACTICING INTERNATIONAL MANAGEMENT CASE 303 PART 5 International Business Management 304 Chapter 12 International Strategy and Organization 304 Ryanair Soars Above 305 12.1 Company Analysis 306 12.1.1 Company Mission and Goals 306 12.1.2 Core Competency andValue Creation 307 12.1.3 Business Environment 309 • CULTURE INSIGHTS: Researching Business Environments 310 12.2 Strategy Formulation 310 12.2.1 Two International Strategies 310 12.2.2 Corporate-Level Strategies 312 12.2.3 Business-Level Strategies 312 12.2.4 Department-Level Strategies 314 • GLOBAL MANAGER: Questions to Ask Before Going International 315 12.3 Issues of Organizational Structure 315 12.3.1 Centralization Versus Decentralization 315 12.3.2 Coordination and Flexibility 316 12.4 Types of Organizational Structure 317 12.4.1 International Division Structure 317 12.4.2 International Area Structure 318 12.4.3 Global Product Structure 318 12.4.4 Global Matrix Structure 319 12.4.5 WorkTeams 320 Chapter Summary 321 Teaming Up 322 · · Key Terms 322 Ethical Challenge 322 · Talk About It 322 · Writing Assignments 322 • PRACTICING INTERNATIONAL MANAGEMENT CASE 323
Chapter 13 Analyzing International Opportunities 324 Starbucks' Global Expansion 325 13.1 Basic Appeal and National Factors 326 13.1.1 Identify Basic Appeal 326 13.1.2 Assess the National Business Environment 327 * GLOBAL MANAGER: Expanding Globally Online 330 13.2 Measure and Select the Market or Site 330 13.2.1 Measure Market or Site Potential 330 13.2.2 Select the Market or Site 334 13.3 Secondary Market Research 335 13.3.1 Public Information Sources 336 13.3.2 Private Information Sources 337 13.3.3 Issues with Secondary Research 337 11
12 CONTENTS 13.4 Primary Market Research 339 13.4.1 Trade Shows andTrade Missions 339 • CULTURE INSIGHTS: Is the World Your Oyster? 340 13.4.2 Interviews and Focus Groups 340 13.4.3 Surveys and Environmental Scanning 341 13.4.4 Issues with Primary Research 341 Chapter Summary 342 Teaming Up 343 · · Key Terms 343 Ethical Challenge 343 · Talk About It 343 · Writing Assignments 344 • PRACTICING INTERNATIONAL MANAGEMENT CASE 345 Chapter 14 Selecting and Managing Entry Modes 346 Marvel Entertains 347 14.1 Exporting and Countertrade 348 14.1.1 Why Companies Export 348 14.1.2 Developing an Export Strategy: A Four-Step Model 349 14.1.3 Degree of Export Involvement 350 14.1.4 Countertrade 352 14.2 Export/Jmport Financing 353 14.2.1 Advance Payment 353 14.2.2 Documentary Collection 353 14.2.3 Letter of Credit 354 14.2.4 Open Account 355 • GLOBAL MANAGER: Collecting International Debts 356 14.3 Contractual Entry Modes 356 14.3.1 Licensing 356 14.3.2 Franchising 357 14.3.3 Management Contracts 359 14.3.4 Turnkey Projects 359 14.4 Investment Entry Modes 360 14.4.1 Wholly Owned Subsidiaries 360 14.4.2 Jointventures 361 14.4.3 Strategic Alliances 362 14.4.4 Partner Selection 363 • CULTURE INSIGHTS: Negotiating Market Entry 364 Chapter Summary 364 Teaming Up 366 · · Key Terms 365 Ethical Challenge 366 · Talk About It 365 · Writing Assignments 366 • PRACTICING INTERNATIONAL MANAGEMENT CASE 367 Chapter 15 Developing and Marketing Products 368 Wings for Life 369 15.1 Developing Product Strategies 370 15.1.1 Laws and Culture 370 15.1.2 Brand and Product Names 371 15.1.3 Other Product Issues
372 15.2 Creating Promotional Strategies 373 15.2.1 Push and Pull Strategies 373 • GLOBAL MANAGER: Managing an International Sales Force 373 15.2.2 International Advertising 374 15.2.3 Communicating Promotional Messages 375 15.2.4 Blending Product and Promotional Strategies 376 • CULTURE INSIGHTS: Localizing Digital Advertising 377 15.3 Designing Distribution Strategies 378 15.3.1 Designing Distribution Channels 378 15.3.2 Special Distribution Issues 379
CONTENTS 15.4 Developing Pricing Strategies 380 15.4.1 Worldwide Pricing 380 15.4.2 Dual Pricing 380 15.4.3 Factors That Affect Pricing Decisions 381 Chapter Summary 382 Teaming Up 384 · · Key Terms 383 · Talk About It 383 · Writing Assignments 384 Ethical Challenge 384 • PRACTICING INTERNATIONAL MANAGEMENT CASE 385 Chapter 16 Managing International Operations 386 Toyota Races Ahead 387 16.1 Production Strategy 388 16.1.1 Capacity Planning 388 16.1.2 Facilities Location Planning 388 16.1.3 Process Planning 390 16.1.4 Facilities Layout Planning 391 16.2 Acquiring Physical Resources 391 16.2.1 Reasons to Make 392 16.2.2 Reasons to Buy 393 16.2.3 Raw Materials 394 16.2.4 Fixed Assets 394 16.3 Key Production Concerns 395 16.3.1 Quality Improvement Efforts 395 • GLOBAL MANAGER: World-Class Standards 396 16.3.2 Shipping and Inventory Costs 396 16.3.3 Reinvestment versus Divestment 396 16.4 Financing Business Operations 397 16.4.1 Borrowing 397 16.4.2 Issuing Equity 398 16.4.3 Internal Funding 399 • CULTURE INSIGHTS: Financing Business from Abroad ՅՑՑ 16.4.4 Capital Structure 400 Chapter Summary 401 Teaming Up 402 · · Key Terms 402 Ethical Challenge 402 · Talk About It 402 · Writing Assignments 402 • PRACTICING INTERNATIONAL MANAGEMENT CASE 403 Chapter 17 Hiring and Managing Employees 404 IKEA Togetherness 405 17.1 International Staffing Policies 406 17.1.1 Ethnocentric Staffing 406 17.1.2 Polycentric Staffing 408 17.1.3 Geocentric Staffing 408 17.2 Recruiting and Selecting Human Resources 409 17.2.1 Human Resource Planning 409 * GLOBAL MANAGER: Growing Global 409 17.2.2
Recruiting Human Resources 410 17.2.3 Selecting Human Resources 410 17.2.4 Culture Shock 411 17.2.5 Reverse Culture Shock 411 • CULTURE INSIGHTS: A Shocking Ordeal 412 17.3 Training and Development 413 17.3.1 Methods of CulturalTraining 413 17.3.2 Compiling a Cultural Profile 414 17.3.3 Nonmanagerial WorkerTraining 414 13
14 CONTENTS 17.4 Compensation, Labor, and Management 415 17.4.1 Managerial Employees 415 17.4.2 Nonmanagerial Workers 416 17.4.3 Labor-Management Relations 416 Chapter Summary 418 Teaming Up 419 · · Key Terms 419 Ethical Challenge 420 · • PRACTICING INTERNATIONAL MANAGEMENT CASE 421 Endnotes 422 Glossary 435 Name Index 443 Subject Index 445 Talk About It 419 · Writing Assignments 420 |
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| illustrated | Illustrated |
| index_date | 2024-07-03T21:29:25Z |
| indexdate | 2024-12-06T04:01:14Z |
| institution | BVB |
| isbn | 9781292450315 |
| language | English |
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| spellingShingle | Wild, John J. Wild, Kenneth L. International business the challenges of globalization Weltwirtschaft (DE-588)4065468-0 gnd Internationales Management (DE-588)4114040-0 gnd Multinationales Unternehmen (DE-588)4075092-9 gnd Außenhandel (DE-588)4003832-4 gnd Globalisierung (DE-588)4557997-0 gnd |
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| title | International business the challenges of globalization |
| title_auth | International business the challenges of globalization |
| title_exact_search | International business the challenges of globalization |
| title_exact_search_txtP | International business the challenges of globalization |
| title_full | International business the challenges of globalization John J. Wild (University of Wisconsin, Madison), Kenneth L. Wild (University of London, England) |
| title_fullStr | International business the challenges of globalization John J. Wild (University of Wisconsin, Madison), Kenneth L. Wild (University of London, England) |
| title_full_unstemmed | International business the challenges of globalization John J. Wild (University of Wisconsin, Madison), Kenneth L. Wild (University of London, England) |
| title_short | International business |
| title_sort | international business the challenges of globalization |
| title_sub | the challenges of globalization |
| topic | Weltwirtschaft (DE-588)4065468-0 gnd Internationales Management (DE-588)4114040-0 gnd Multinationales Unternehmen (DE-588)4075092-9 gnd Außenhandel (DE-588)4003832-4 gnd Globalisierung (DE-588)4557997-0 gnd |
| topic_facet | Weltwirtschaft Internationales Management Multinationales Unternehmen Außenhandel Globalisierung |
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Inhaltsverzeichnis
THWS Schweinfurt Zentralbibliothek Lesesaal
| Signatur: |
2000 QM 000 W668(10) |
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| Exemplar 1 | ausleihbar Verfügbar Bestellen |