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• Cover Page
• Half Title Page
• Title Page
• Copyright Page
• Dedication
• Contents
• Preface
• Part A Chapters
• 1 Challenges in International Business
• Today’s World of Business
• Legal–Political Environment
• Economic Environment
• Cultural Environment
• What is International Business?
• Why Do Companies Go International?
• Minimize Competitive Risk
• Acquire Resources
• Expand Sales
• Diversify Sources of Sales and Supplies
• Development and Expansion of Technology
• Liberalization of Cross-Border Movements
• Development of Supporting Services
• The Participants in International Business
• The Global Perspective of International Business
• Why Study International Business?
• Practical Tips
• Identify the Target Market
• Find the Most Appealing Customer Benefit
• Develop a Motivating Offer
• Decide How to Publicize the Firm’s Business
• Establish a Plan to Promote Customer Loyalty
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 2 The Culture Challenge in International Business
• What Is Culture?
• Economic Systems
• Marriage and Family Systems
• Educational Institutions
• Social Control Systems
• Supernatural Belief Systems
• Culture and its Elements
• Dress and Appearance
• Communication and Language
• Sense of Self and Space
• Food and Feeding Habits
• Time and Time Consciousness
• Relationships
• Gender
• Beliefs and Attitudes
• Christianity
• Islam
• Hinduism
• Buddhism
• Confucianism
• The Study of Cultural Differences
• Culture in the Workplace
• Cross-cultural Management and Training
• Culture Shock
• Practical Tips
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 3 Theories of International Trade and International Investment
• International Trade in General and its Importance
• Mercantilism
• Adam Smith and the Theory of Absolute Advantage
• David Ricardo and the Theory of Comparative Advantage
• The Heckscher–Ohlin (Factor Proportions) Model
• Raymond Vernon and the Product Life Cycle Theory of Trade
• Contemporary Trade Theories
• Porter’s Diamond of National Advantage
• Factor Conditions
• Demand Conditions
• Related and Supporting Industries
• Firm Strategy, Structure, and Rivalry
• Practical Tips
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 4 The Monetary System in the International Arena
• International Transactions
• Balance of Payments
• Current and Capital Accounts
• Balance of Payments Disequilibrium
• The Foreign Exchange Market
• Exchange Rates in the Business Context
• Demand and Supply of Foreign Exchange
• Exchange Rate Determination
• Relative National Incomes
• Relative Price Levels
• Interest Rates
• Expectations
• Purchasing Power Parity
• Exchange Rate Regimes
• Fixed Exchange Rates
• Flexible Exchange Rates
• Managed Exchange Rates
• Fixed or Flexible Exchange Rates?
• The Adjustment Mechanism
• Advantages and Disadvantages of Fixed and Flexible Exchange Rates
• International Monetary Stability
• Economic Policy Independence
• The International Monetary System
• The Gold Standard
• The Bretton Woods System
• The Present “Nonsystem”
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 5 International Economic Integration
• The Changing World Context
• Globalization and Economic Activity
• The World Trade Organization
• The International Monetary Fund and the World Bank
• Economic Integration
• Economic Integration in Europe: The European Union
• The Single Market
• Economic and Monetary Union
• Benefits and Costs of EMU
• The Growth and Stability Pact
• Monetary Policy
• Economic Integration in North America—NAFTA
• Economic Integration among Developing Countries
• Economic Integration in Asia
• Association of South East Asian Nations
• South Asian Association for Regional Cooperation
• Asian Pacific Economic Cooperation
• Economic Integration in Africa
• Economic Community of West African States
• Common Market for Eastern and Southern Africa
• Southern African Development Community
• Southern African Customs Union
• Economic Integration in Latin America and the Caribbean
• Southern Common Market
• Caribbean Community
• Economic Integration in the Middle East
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 6 Government, Law, and Political Risk in International Business
• Introduction
• The Political Environment
• What Are Political Risks?
• Types of Political Risk
• Political/Economic Environment Risk
• Domestic Economic Conditions
• External Economic Relations as Risk Factors
• The Legal Environment
• Resolving International Disputes
• Source of Jurisdiction
• The Political Environment
• The Legal Environment
• Common Law
• Civil Law
• Theocratic Law
• Government Issues and Corruption
• Bribery—Business as Usual
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 7 Global Strategic Planning
• Introduction
• Overview on Global Strategic Planning
• FDI Inflows Down
• FDI Outflows Up
• Dynamic Growth of Services FDI
• FDI Prospects
• Prospects for Major Host and Home Countries
• Leading Sources of FDI
• The Role of the Transnational Corporations
• The Strategic Planner in a Global Multicultural Environment
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 8 Entering the International Market
• Concerns and Issues of Going International
• Motivation
• Concerns, Risks, and Issues
• International Business Research: Determining International Business Research Objectives
• Distribution and Sales Channel Identification
• Foreign Market Entry Strategies
• Export Market Entry Modes
• Indirect Exports
• Contractual Entry Modes
• Franchising
• Foreign Manufacturing
• Investment Entry Modes
• Portfolio Investments by Multinational Corporations
• Foreign Direct Investment
• Joint Ventures
• Wholly-owned Subsidiaries
• Mergers and Acquisitions
• Greenfield Operations
• Strategic Alliances
• International Logistics and Transportation Issues Related to Foreign Market Entry
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 9 International Marketing
• Sports Marketing/Advertisement Revolution by Nike
• Vision and Global Strategy
• Nike Constantly Strives for Innovation
• Innovative Communication
• Innovation through Integration Logistics and Supply Chain Management
• Nike Activities in Southeast Asia: Ethical Dilemmas and Social Responsibility Policies
• The Global Environment
• International Market Assessment
• The Global Marketing Environment
• The National Marketing Environment
• National Market Environmental Dimensions
• Country Risk Assessment
• Market Information
• How to Reach the Necessary Information Sources
• Marketing Information Systems
• Formal International Marketing Research Programs
• International Marketing Strategy and Management
• The International Marketing Mix: Product, Promotion, Pricing, and Placing Strategies
• Product
• Price
• Place
• Promotion
• Cross-cultural Consumer Marketing
• Industrial Marketing
• Industrial International Marketing Applications
• Vertical Coordination in the Retailing Sector
• Chain Marketing
• Supply Chain Strategy and Management
• International Marketing Implementation in Challenging Areas of the Global Economy
• Marketing in the Newly Emerging and Former Eastern Bloc Economies
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 10 International Accounting, Finance, and Taxation
• Introduction
• The Environment of Global Financial Markets
• The Rise of Cross-border Financing
• International Money Markets
• Global Equity Markets
• Global Debt Markets
• Global Bank Markets
• Some Trends
• The Environment of International Financial Accounting
• International Financial Accounting Diversity
• Causes of International Financial Accounting Diversity
• Some Manifestations of International Financial Accounting Diversity
• Consequences of International Financial Accounting Diversity
• Harmonization of Financial Accounting Diversity
• Other Players in Financial Accounting Harmonization
• International Financial Reporting
• International Consolidations
• Foreign Currency Translation
• Auditing in an International Environment
• International Financial Statement Analysis
• International Taxation and International Transfer Prices
• International Diversity of Tax Systems and Tax Rates
• Tax Minimization Strategies
• International Transfer Pricing
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 11 International Operations Management
• Production and Operations
• What is Operations Management?
• What Do Operations Managers Do?
• Operations Management in the International Arena
• Operations Management at Easyjet Airlines
• Operations Management Applications
• Forecasting
• Example 1
• Project Management
• Example 2
• Example 3
• Chapter Summary
• Review and Discussion Questions
• Problems
• Endnotes
• 12 Strategic Human Resource Management of International Assignments
• The Different Approaches to International Staffing
• Ethnocentric Approach
• Polycentric Approach
• Geocentric Approach
• Regiocentric Approach
• Functions of International Assignments
• Fulfilling a Specific Need for Personnel and Know-how
• Sharing and Transferring Knowledge
• The Development of Managers and their Implication Toward the Organization
• Control of Activities
• Coordination of Activities
• Types of International Personnel
• The Different Categories of International Personnel
• The Different Types of International Assignment for PCNs
• Long-term Assignments, or Expatriations
• Short-term Assignments (1–12 months)
• Global Managers
• International Junior Managers
• Strategic Management of International Assignments
• Strategic Planning and Job Analysis
• Recruitment of International Employees
• Recruitment Sources
• Recruitment Methods
• Selection of International Employees
• Selection Criteria
• Choice of Evaluators
• Selection Methods
• Preparation to Transfer
• Preliminary Visits or Look-see Visits
• Practical Assistance
• Language Training
• Cross-cultural Training
• Pre-departure Cross-cultural Training Effectiveness
• Adjustment of the Expatriate Manager: Organization Support upon Arrival and during the Assignment
• The Process of Cross-cultural Adjustment
• The Integrated Cross-cultural Adjustment Model
• Compensation of International Employees
• Repatriation and Retention
• Potential Problems Faced by the Expatriates
• Building an Effective Repatriation Process
• Women in the Global Arena
• Review and Discussion Questions
• Endnotes
• 13 Doing Business in the Industrialized Countries
• Introduction—About the Industrialized Countries
• A Changing World—The Role of the Industrialized Countries
• Economic and Demographic Forces
• A New World Economy
• Demographic Forces
• Income and Purchasing Power
• Labor Forces
• Nature of the Economy and other Characteristics
• Political, Legal, and Regulatory Forces
• Political Forces
• Legal and Regulatory Forces
• International Political/Economic Agreements and Cooperation
• The Technological Forces
• The Natural Forces
• Social and Cultural Forces
• Consumer Behavior in the Industrialized Countries
• Differences in the Consumer Decision Process
• The Individual Determinants of Consumer Behavior
• Environmental Determinants of Consumer Behavior
• Cultural and Social Factors
• Business Social Responsibility and Ethics
• Communication and Media
• Influencing Consumer Behavior
• Other Issues
• Country Uniqueness
• Japan
• Australia
• Switzerland
• Sweden
• The Future
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 14 Doing Business in the Newly Emerging Economies
• Introduction
• Business Opportunities in the Financial Markets
• Foreign Direct Investments
• Foreign Trade Potential of the Emerging Economies
• Growing Potential of the Market of Services
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 15 Business Behavior in Europe’s Single Market
• The Issue
• Description
• Introduction: What is Influencing Business Behavior in Europe’s Single Market?
• The Challenges in the European Continent in the Aftermath of World War II
• The First Steps: The Origins of Cooperation in Europe
• The Deepening of European Integration: The Evolution of the EU through Treaties
• The Single European Act (1986): The Single Market
• The Treaty of Maastricht (1992): The EU
• The Institutional Design of the EU: How Europe is Governed
• The Council of Ministers
• The EP
• The ECJ
• The Court of Auditors
• The Widening of the EU: The Policy of Enlargement
• The First Enlargement (1973)
• The Two Mediterranean Enlargements (1981, 1986)
• The EFTA Enlargement (1995)
• The Eastern Enlargement (2004)
• National and Cultural Differences within the EU: The Importance of Diversity
• The Impact of National Diversity on Business Behavior
• The Significance of Europe’s Single Market: The Four Freedoms of Movement
• Free Movement of Services
• Free Movement of People
• Free Movement of Capital
• The European Monetary Union: Conducting Business in the Euro-Zone
• The Need for Regulation in Europe’s Business Environment: The EU’s Competition Policy
• Rules Applying to Undertakings
• Rules Applying to State Aid
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• 16 Doing Business in the Developing Countries
• Introduction
• Classification of the Developing Countries
• Cultural and Political Factors
• Entry Strategies in the LDCs
• Interaction with the World Market: Forms, Dependences, and Basic Trends
• Chapter Summary
• Review and Discussion Questions
• Endnotes
• Part B A Potpourri of Cases
• Air Arabia Seeking Success in an Open Skies Market
• Can Personal Agendas Produce Good Business Decisions The Case of KYT Inc.
• Chicago Food and Beverage Company
• Making the Product-to-Service Transition in International Markets
• The Misadventures of an American Expatriate in Europe
• The UAE An Information Society for Growth and Employment
• Index