International Business: A Managerial Perspective

✍ Scribed by Griffin, Ricky W;Pustay, Mike W

• Publisher: Pearson
• Year: 2014
• Tongue: English
• Leaves: 625
• Edition: 4th Edition
• Category: Library

✦ Synopsis

&>For International Business Courses.
Successfully prepare students for the international marketplace.
International Businessillustrates how successful managers must function in a competitive world. Packed with current examples that reflect the vibrancy of the international business field, this student-friendly text offers a managerial approach that keeps an emphasis on skills development, emerging markets and geographical literacy.
MyManagementLabforInternational Businessis a total learning package.MyManagementLabis an online homework, tutorial, and assessment program that truly engages students in learning. It helps students better prepare for class, quizzes, and exams resulting in better performance in the course and provides educators a dynamic set of tools for gauging individual and class progress.
Teaching and Learning Experience
This program will provide a better teaching and learning experience for you and your students. Here s how:
Improve Results with MyManagementLab:MyManagementLab delivers proven results in helping students succeed and provides engaging experiences that personalize learning.Provide a Thorough Understanding of Emerging Markets:Reinforce topics through numerous cases, inserts, and end-of-chapter questions and exercises.Keep your Course Current and Relevant:New examples, exercises, and statistics appear throughout the text.
Note:You are purchasing a standalone product; MyManagementLab does not come packaged with this content. If you would like to purchaseboththe physical text and MyManagementLab search for ISBN-10: 0133768759/ISBN-13: 9780133768756. That package includes ISBN-10: 0133506290/ISBN-13: 9780133506297 and ISBN-10: 0133543978/ISBN-13: 9780133543971. MyManagementLab is not a self-paced technology and should only be purchased when required by an instructor."

✦ Table of Contents

Cover......Page 1
Title Page......Page 2
Contents......Page 8
Maps......Page 20
Preface......Page 22
Acknowledgments......Page 25
About the Authors......Page 26
Chapter 1 An Overview of International Business......Page 27
The Business of the Olympics......Page 28
What Is International Business?......Page 29
Why Study International Business?......Page 30
Bringing the World into Focus: The Early Era of International Business......Page 32
International Investments......Page 33
Other Forms of International Business Activity......Page 34
The Contemporary Causes of Globalization......Page 35
Strategic Imperatives......Page 37
VENTURING ABROAD: Manchester City in Dubai......Page 38
Globalization and Emerging Markets......Page 39
An Overview of the Contents of This Book......Page 41
Questions for Discussion......Page 43
Closing Case: Demography Is Destiny......Page 44
Endnotes......Page 47
Chapter 2 Global Marketplaces and Business Centers......Page 49
The Northwest Passage......Page 50
The United States......Page 51
Canada......Page 53
Emerging Opport unities: Classifying Countries by Income Levels......Page 54
Bringing the World into Focus: The Canals of Commerce......Page 55
The Marketplaces of Western Europe......Page 56
Bringing the World into Focus: The EU’s Growth Engine......Page 58
The Marketplaces of Eastern Europe and Central Asia......Page 59
Australia and New Zealand......Page 62
The Four Tigers......Page 64
China......Page 66
The Marketplaces of Africa and the Middle East......Page 68
Middle East......Page 69
The Marketplaces of South America......Page 71
Bringing the World Into Focus: Brazil Bolsters Its Families......Page 73
Summary......Page 74
Building Global Skills......Page 75
Closing Case: Fracturing the Energy Market......Page 76
Endnotes......Page 78
Chapter 3 Legal, Technological, Accounting, and PoliticalEnvironments......Page 79
The Legal Environment......Page 80
Differences in Legal Systems......Page 81
Venturing Abroad: How Important Is the Rule of Law?......Page 84
Domestically Oriented Laws......Page 85
Laws Directly Affecting International Business Transactions......Page 86
Laws Directed against Foreign Firms......Page 87
The Impacts of MNCs on Host Countries......Page 88
Dispute Resolution in International Business......Page 89
The Technological Environment......Page 90
The Roots of National Differences......Page 93
Bringing The World into Focus: The Sarbanes-Oxley Act......Page 95
Venturing Abroad: Chinese Accounting Buries Caterpillar’s Investment......Page 96
Impact on Capital Markets......Page 98
Political Risk......Page 99
Summary......Page 102
Building Global Skills......Page 103
Closing Case: Tiny Islands, Big Trouble......Page 104
Endnotes ......Page 106
Chapter 4 The Role of Culture......Page 109
Bollywood, Hollywood, and Nollywood......Page 110
E-World: The Internet, National Competitiveness, and Culture......Page 111
Social Structure......Page 112
Bringing the World into Focus: Japan’s Demographicand Cultural Challenges......Page 113
Language......Page 115
Communication......Page 119
Religion......Page 121
Bringing the World into Focus: Islamic Finance......Page 123
Values and Attitudes ......Page 124
Hall’s Low-Context–High-Context Approach......Page 126
The Cultural Cluster Approach......Page 127
Social Orientation......Page 128
Power Orientation......Page 131
Uncertainty Orientation......Page 134
Goal Orientation......Page 135
Understanding New Cultures......Page 136
Venturing Abroad: McDonald’s Fits In......Page 137
Summary......Page 138
Closing Case: Quacking Up a Storm of Business......Page 139
Endnotes......Page 141
Chapter 5 Ethics and Social Responsibility in InternationalBusiness......Page 143
Foxconn: Managing 1.5 million Employees......Page 144
The Nature of Ethics and Social Responsibility in International Business......Page 145
How an Organization Treats Its Employees......Page 147
How Employees and the Organization Treat Other Economic Agents......Page 149
Guidelines and Codes of Ethics......Page 150
Ethics Training......Page 151
Corporate Social Responsibility in Cross-Cultural and International Contexts......Page 152
Sustainability and the Natural Environment ......Page 153
People, Planet, and Profits: Lions and Tigers and Bears, oh My!......Page 154
General Social Welfare......Page 155
Approaches to Social Responsibility......Page 157
Managing Compliance......Page 158
People, Planet, and Profits: e-Waste......Page 159
Informal Dimensions of Social Responsibility......Page 160
Evaluating Social Responsibility ......Page 161
The Continental European Approach......Page 162
Regulating International Ethics and Social Responsibility......Page 163
Emerging Opport unities: Conflict Diamonds......Page 164
Summary......Page 165
Building Global Skills......Page 166
Closing Case: BP: Safety First or Profits First?......Page 167
Endnotes......Page 168
PART 1: Closing Cases: KFC in China......Page 170
A Pipeline of Good Intentions......Page 172
The Oil Curse......Page 174
Chapter 6 International Trade and Investment......Page 177
Trade Is Blossoming......Page 178
International Trade and the World Economy......Page 179
Mercantilism......Page 180
Absolute Advantage......Page 181
Comparative Advantage......Page 182
Comparative Advantage with Money......Page 183
Bringing the World into Focus: The Lincoln Fallacy......Page 184
Relative Factor Endowments......Page 186
Product Life Cycle Theory ......Page 188
New Trade Theory......Page 190
Porter’s Theory of National Competitive Advantage......Page 192
Venturing Abroa d: Birds of a Feather Flock Together......Page 195
Venturing Abroad: The New Player in Global Capital Markets:Sovereign Wealth Funds......Page 196
The Growth of FDI......Page 197
FDI and the United States......Page 198
Dunning’s Eclectic Theory ......Page 200
Supply Factors......Page 201
Demand Factors......Page 202
Political Factors......Page 203
Summary......Page 204
Closing Case: The Growing Trade in Growing Grapes......Page 205
Endnotes......Page 207
Chapter 7 The International Monetary Systemand the Balance of Payments......Page 209
A Global Currency War?......Page 210
The Gold Standard......Page 211
The Collapse of the Gold Standard......Page 212
The Bretton Woods Era......Page 214
The End of the Bretton Woods System......Page 217
Performance of the International Monetary System Since 1971......Page 219
Bringing the World into Focus: Fixed versus FlexibleExchange Rates......Page 220
The BOP Accounting System......Page 223
The Major Components of the BOP Accounting System......Page 224
The U.S. BOP in 2012......Page 228
Bringing the World into Focus: Ben Franklin,World Traveler......Page 229
Defining BOP Surpluses and Deficits......Page 231
Summary......Page 233
Building Global Skills......Page 234
Closing Case: Recent U.S. BOP Performance: Is the Sky Falling?......Page 235
Endnotes......Page 236
Chapter 8 Foreign Exchange and International Financial Markets......Page 237
The Loonie Takes Flight......Page 238
The Economics of Foreign Exchange......Page 239
The Role of Banks......Page 242
Bringing the World into Focus: A Brief Hint......Page 244
Spot and Forward Markets......Page 245
Arbitrage and the Currency Market......Page 247
Bringing the World into Focus: The Big Mac Index......Page 249
The International Capital Market......Page 252
Major International Banks......Page 253
The International Bond Market......Page 255
Offshore Financial Centers......Page 256
Summary......Page 257
Building Global Skills......Page 258
Closing Case: What Is Next for Chinese Manufacturing?......Page 259
Endnotes......Page 260
Chapter 9 Formulation of National Trade Policies......Page 261
Huawei Leads the Way......Page 262
Rationales for Trade Intervention......Page 263
Industry-Level Arguments......Page 264
National Trade Policies......Page 267
Venturing Abroad: Emirates Airline Expansion – The Case of the Canadian Market......Page 271
Nontariff Barriers......Page 273
Bringing the World into Focus: The Fight over Rare Earths......Page 276
Subsidies......Page 279
Foreign Trade Zones......Page 280
People, Planet, and Profits: Cotton Subsidies and World Poverty......Page 281
Controlling Unfair Trade Practices......Page 282
Antidumping Regulations......Page 283
Safeguards......Page 284
Questions for Discussion......Page 285
Closing Case: Green Energy and Free Trade......Page 286
Endnotes......Page 288
Chapter 10 International Cooperation Among Nations......Page 291
Trade and Prosperity: The Case of Mexico......Page 292
The Role of the General Agreement on Tariffs and Trade......Page 293
People, Planet, and Profits: Protecting Endangered Species......Page 294
Bringing the World into Focus: Most Nations Are Favored......Page 295
The World Trade Organization......Page 296
Forms of Economic Integration......Page 298
The Impact of Economic Integration on Firms......Page 299
The European Union......Page 300
Governing the EU......Page 302
The Struggle to Create a Common Market......Page 306
From Common Market to European Union......Page 307
The North American Free Trade Agreement......Page 311
Other Free Trade Agreements in the Americas......Page 312
Trade Arrangements in the Asia-Pacific Region......Page 314
African Initiatives......Page 316
Summary......Page 317
Building Global Skills......Page 318
Closing Case: The European Union’s Challenges......Page 319
Endnotes......Page 321
PART 2: Closing Cases: Twenty-First Century Pirates......Page 322
Jumbo Battle over Jumbo Jets......Page 323
Will Whirlpool Clean Up in Europe?......Page 324
Chapter 11 International Strategic Management......Page 327
Global Mickey......Page 328
The Challenges of International Strategic Management......Page 329
Emerging Opport unities: How Does a Japanese FirmCompete in China? … Act More American......Page 332
Strategic Alternatives......Page 333
Venturing Abroad: Master of the Furniture Universe......Page 335
Distinctive Competence......Page 337
Synergy......Page 338
Environmental Scanning and the SWOT Analysis......Page 339
Tactics......Page 342
Control Framework......Page 343
Corporate Strategy......Page 344
Business Strategy......Page 346
Functional Strategies......Page 348
Summary......Page 349
Closing Case: The New Conquistador......Page 350
Endnotes......Page 353
Chapter 12 Strategies for Analyzing and Entering Foreign Markets......Page 355
The Business of Luxury......Page 356
Assessing Alternative Foreign Markets......Page 357
Emerging Opport unities: The Bottom of the Pyramid......Page 359
Evaluating Costs, Benefits, and Risks......Page 360
Choosing a Mode of Entry......Page 361
Exporting to Foreign Markets......Page 365
Forms of Exporting......Page 366
Additional Considerations......Page 368
VENTURING ABROAD: Dnata – Global Growth Strategy......Page 369
Export Intermediaries......Page 370
International Licensing......Page 371
Basic Issues in International Licensing......Page 374
Advantages and Disadvantages of International Licensing......Page 375
Advantages and Disadvantages of International Franchising......Page 376
Turnkey projects.......Page 377
Emerging Opport unities: Business Process Outsourcing......Page 378
The Greenfield Strategy......Page 379
The Acquisition Strategy......Page 380
Summary......Page 381
Building Global Skills......Page 382
Closing Case: The House of Tata......Page 383
Endnotes......Page 385
Chapter 13 International Strategic Alliances......Page 387
The European Cereal Wars......Page 388
International Corporate Cooperation......Page 389
Ease of Market Entry......Page 390
Shared Knowledge and Expertise......Page 391
Comprehensive Alliances......Page 392
Functional Alliances......Page 393
Venturing Abroad: Alliances in the Sky......Page 394
Selection of Partners......Page 396
Venturing Abroad: Learning by Doing......Page 397
People, Planet, and Profits: Alliances for Good......Page 399
Joint Management Considerations......Page 400
Incompatibility of Partners......Page 401
Emerging Opport unities: Xi’s in Charge......Page 402
Loss of Autonomy......Page 403
Summary......Page 404
Building Global Skills......Page 405
Closing Case: Look Before You Leap......Page 406
Endnotes......Page 407
Chapter 14 International Organization Design and Control ......Page 409
Lenovo Spreads Its Global Wings......Page 410
The Nature of International Organizational Design......Page 411
Global Organization Designs......Page 412
Global Product Design......Page 413
Global Area Design......Page 414
Global Functional Design......Page 415
Global Matrix Design......Page 417
Hybrid Global Designs......Page 419
Role of Subsidiary Boards of Directors......Page 421
Coordination in the Global Organization......Page 422
Strategic Control......Page 423
Organizational Control......Page 426
People, Planet, and Profits: Toward Zero Waste?......Page 428
Establishing International Control Systems......Page 429
Bringing the World Into Focus: Ford Aims High......Page 430
Essential Control Techniques......Page 433
Behavioral Aspects of International Control......Page 434
Summary......Page 435
Building Global Skills......Page 436
Closing Case: Mining a New Organization Design......Page 437
Endnotes......Page 439
Chapter 15 Leadership and Employee Behavior in InternationalBusiness......Page 441
Leadership Issues at Toyota......Page 442
Personality Differences Across Cultures......Page 443
Attitudes Across Cultures......Page 446
Perception Across Cultures......Page 447
Bringing the World into Focus: Stressing Out in the Call Centers......Page 448
Needs and Values Across Cultures......Page 449
Need-Based Models Across Cultures......Page 450
Process-Based Models Across Cultures......Page 451
Contemporary Leadership Theory......Page 452
The GLOBE Leadership Project......Page 455
Models of Decision Making......Page 456
The Normative Model Across Cultures......Page 457
The Descriptive Model Across Cultures......Page 458
The Nature of Group Dynamics......Page 459
Managing Cross-Cultural Teams......Page 460
Questions for Discussion......Page 461
Closing Case: Ikea’s Transformational Leader......Page 462
Endnotes......Page 463
PART 3: Closing Cases: Reinventing Nissan......Page 466
Slimline: Marching to a Different Drummer......Page 468
Unilever Matches Strategyand Structure......Page 469
Chapter 16 International Marketing......Page 471
Conquering with Stalls......Page 472
International Marketing and Business Strategies......Page 473
The Marketing Mix......Page 475
Standardization versus Customization......Page 476
Product Policy......Page 479
Cultural Influences......Page 480
Economic Factors......Page 481
Pricing Issues and Decisions......Page 482
Pricing Policies......Page 483
Market Pricing......Page 484
Advertising......Page 486
Venturing Abroad: Putting the Greek into Yogurt......Page 487
E-World: ¿Qué Pasa in the Ad Agency?......Page 488
Sales Promotion......Page 489
Public Relations......Page 490
International Distribution......Page 491
Channels of Distribution......Page 492
Building Global Skills......Page 495
Closing Case: Novica Opens Doors Across National Boundaries......Page 496
Endnotes......Page 497
Chapter 17 International Operations Management......Page 499
Racing to Market......Page 500
The Nature of International Operations Management......Page 501
The Strategic Context of International Operations Management......Page 502
Complexities of International Operations Management......Page 503
Supply Chain Management and Vertical Integration......Page 504
Bringing the World into Focus: Dealing with the Unexpected......Page 508
International Logistics and Materials Management......Page 511
Bringing the World into Focus: Moving Here, Moving There…......Page 512
Characteristics of International Services......Page 514
Managing Service Operations......Page 515
Managing Productivity in International Business......Page 516
Managing Quality in International Business......Page 517
Managing Information in International Business......Page 519
Questions for Discussion......Page 521
Building Global Skills......Page 522
Closing Case: Out Supply-Chaining the King of Supply Chainers......Page 523
Endnotes......Page 524
Chapter 18 International Financial Management......Page 525
Financial Issues in International Trade......Page 526
Method of Payment......Page 527
Transaction Exposure......Page 535
Economic Exposure......Page 538
Minimizing Working Capital Balances......Page 541
Minimizing Currency Conversion Costs......Page 542
Minimizing Foreign-Exchange Risk......Page 543
Net Present Value......Page 544
Payback Period......Page 545
External Sources of Investment Capital......Page 546
Internal Sources of Investment Capital......Page 547
Strategic Use of Transfer Pricing......Page 548
Venturing Abroad: Taxation of Foreign Subsidiary Income bythe U.S. Government......Page 550
Tax Havens......Page 551
Summary......Page 553
Building Global Skills......Page 554
Closing Case: Double Irish and a Dutch Sandwich......Page 555
Endnotes......Page 557
Chapter 19 International Human Resource Managementand Labor Relations......Page 559
An Emerging Voice for Workers......Page 560
Strategic Significance of HRM......Page 561
Scope of Internationalization......Page 563
Emerging Opport unities: Thinking Globally but Hiring Locally......Page 564
Staffing Philosophy......Page 565
Bringing the World into Focus: Schlumberger Profitsfrom Geocentric Staffing......Page 566
Recruitment and Selection......Page 567
Recruitment of Managers......Page 568
Selection of Managers......Page 569
Expatriation and Repatriation Issues......Page 570
Assessing Training Needs......Page 571
Basic Training Methods and Procedures......Page 572
Developing Younger International Managers......Page 573
Determining Compensation in International Business......Page 574
BRINGING THE WORLD INTO FOCUS: Japanese ManagementTechniques in China......Page 578
Retention and Turnover......Page 579
Recruitment and Selection......Page 580
Compensation and Performance Appraisal ......Page 581
Comparative Labor Relations......Page 582
Union Influence and Codetermination......Page 583
Summary......Page 584
Closing Case: The Chicago Food and Beverage Company......Page 585
Endnotes......Page 587
Part 4: Closing Cases: The Aramco Advantage......Page 588
Nucor Navigates the NewGlobal Economy......Page 589
Glossary......Page 593
G......Page 607
O......Page 608
Z......Page 609
C......Page 610
H......Page 611
O......Page 612
T......Page 613
Z......Page 614
B......Page 615
C......Page 616
E......Page 617
F......Page 618
I......Page 619
J......Page 620
M......Page 621
P......Page 622
R......Page 623
T......Page 624
Z......Page 625