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• Front Matter
• ABOUT THE AUTHORS
• PREFACE
• INTRODUCTION
• TOPIC COVERAGE AND ORGANIZATION
• DISTINGUISHING PEDAGOGICAL FEATURES
• Contemporary Realism
• Chapter Summary and Review Questions
• Internet Exercises
• Take a Stand
• COMPREHENSIVE LEARNING PACKAGE
• INSTRUCTOR COMPANION WEB SITE
• Instructor’s Manual
• Test Bank
• PowerPoint Lecture Presentations
• Student Companion web site
• GLOBAL MARKET POTENTIAL SYSTEM ONLINE (GMPSO ©) http://www.gmpso2.com
• Available for use with Czinkota’s International Business
• How does GMPSO Work?
• ACKNOWLEDGEMENTS
• EUROPEAN EDITION AUTHORS’ ACKNOWLEDGEMENTS
• PART 1 INTERNATIONAL BUSINESS ENVIRONMENT
• CHAPTER 1 The Nature of International Business
• LEARNING OBJECTIVES
• GLOBALIZATION: OPPORTUNITY OR THREAT?
• GLOBALIZATION: MAKE YOUR CHOICE
• A THEORETICAL VIEWPOINT
• Unbundling Globalization
• Individuals Not Firms, Sectors or Skill Groups
• The Need for International Business
• A Definition of International Business
• GLOBALIZATION: Globalization and Consumption: African Perspective
• A Brief History
• Figure 1.1: Growth of world output and trade, 1998–2007.
• Global Links Today
• Table 1.1: The top 25 nonfinancial transnational corporations from developing economies, ranked by foreign assets (millions of dollars and number of employees).
• Table 1.2: The global components of a Big Mac in the Ukraine.
• EAT LOCALLY, SPEND GLOBALLY
• POLITICS: Consumers Get Political (1)
• POLITICS: Consumers Get Political (2)
• The Structure of the Book
• ETHICS: Students Against Sweatshops
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISE
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 2 Theory of Trade and Investment
• LEARNING OBJECTIVES
• GLOBAL OUTSOURCING: COMPARATIVE ADVANTAGE TODAY
• Table 2.1: Examples of global outsourcing of comparative advantage in intellectual skills.
• INTRODUCTION
• THE AGE OF MERCANTILISM
• CLASSICAL TRADE THEORY
• The Theory of Absolute Advantage
• Figure 2.1: The evolution of trade theory.
• The Theory of Comparative Advantage
• A Numerical Example of Classical Trade
• Table 2.2: Absolute advantage and comparative advantagea.
• National Production Possibilities
• Figure 2.2: Production possibility frontiers, specialization of production and the benefits of trade.
• ETHICS: Over- and Under-Invoicing
• The Gains from International Trade
• Concluding Points about Classical Trade Theory
• FACTOR PROPORTIONS TRADE THEORY
• Factor Intensity in Production
• Figure 2.3: Factor proportions in production.
• Factor Endowments, Factor Prices and Comparative Advantage
• Assumptions of the Factor Proportions Theory
• The Leontief Paradox
• Linder’s Overlapping Product Ranges Theory
• INTERNATIONAL INVESTMENT AND PRODUCT CYCLE THEORY
• The Stages of the Product Cycle
• POLITICS: When the Numbers Don’t Add Up
• Trade Implications of the Product Cycle
• Figure 2.4: Trade patterns and product cycle theory.
• THE NEW TRADE THEORY: STRATEGIC TRADE
• Economies of Scale and Imperfect Competition
• Internal Economies of Scale
• External Economies of Scale
• Strategic Trade
• Price
• Cost
• Repetition
• Externalities
• The Competitive Advantage of Nations
• Figure 2.5: Determinants of national competitive advantage: Porter’s diamond.
• Clusters and the New Economics
• THE THEORY OF INTERNATIONAL INVESTMENT
• The Foreign Direct Investment Decision
• Figure 2.6: The foreign direct investment decision sequence.
• The Theory of Foreign Direct Investment
• Firms as Seekers
• Firms as Exploiters of Imperfections
• Firms as Internalizers
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 3 Culture
• LEARNING OBJECTIVES
• IS THERE A EUROPEAN IDENTITY?
• INTRODUCTION
• CULTURE DEFINED
• POLITICS: Protecting Mozzarella
• THE ELEMENTS OF CULTURE
• Table 3.1: Elements of culture.
• Language
• Figure 3.1: Example of an advert that transferred poorly.
• Nonverbal Language
• Religion
• Values and Attitudes
• Table 3.2: Effect of value differences on management practice.
• Manners and Customs
• Table 3.3: When and what to give as gifts.
• Material Elements
• Aesthetics
• Education
• Social Institutions
• Figure 3.2: Different interpretation of the ‘@’ symbol.
• CULTURE: National Culture – Culture in Russia
• SOURCES OF CULTURAL KNOWLEDGE
• Table 3.4: Types of international information.
• Table 3.5: Managers’ ranking of factors involved in acquiring international expertise.
• Figure 3.3: An example of culture consulting.
• CULTURAL ANALYSIS
• Figure 3.4: A model of cross-cultural behaviour.
• Figure 3.5: Culture dimension scores for twelve countries (0 = low; 100 = high).
• Table 3.6: Culture-based segmentation.
• THE TRAINING CHALLENGE
• Figure 3.6: Cross-cultural training methods.
• E-BUSINESS: Online Cultural Training
• MAKING CULTURE WORK FOR BUSINESS SUCCESS
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 4 Political and Legal Environment
• LEARNING OBJECTIVES
• CORRUPTION, GUNS AND TERRORISM
• INTRODUCTION
• THE HOME-COUNTRY PERSPECTIVE
• LAW: Ensuring Protection of US Exports in the European Union
• LAW: European Union Product Warranty Directive
• Embargoes and Sanctions
• Export Controls
• POLITICS: The EU Code of Conduct Fails to Prevent French Helicopters Being Produced Under Licence in India and Transferred to Nepal
• A New Environment for Export Controls
• POLITICS:Iran’s Nuclear Aspirations
• Regulating International Business Behaviour
• POLITICS: Iran’s Boycott of Danish Goods
• HOST COUNTRY POLITICAL AND LEGAL ENVIRONMENT
• Political Action and Risk
• FIGURE 4.1: Exposure to political risk.
• Economic Risk
• Managing the Risk
• Legal Differences and Restraints
• The Influencing of Politics and Laws
• INTERNATIONAL RELATIONS AND LAWS
• International Politics
• International Law
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISE
• TAKE A STAND
• FOR DISCUSSION
• PART 2 INTERNATIONAL BUSINESS AND MARKETS
• CHAPTER 5 Financial Markets
• LEARNING OBJECTIVES
• CURRENCIES AND THE FEAR OF FLOATING
• THE MARKET FOR CURRENCIES
• Exchange Rate Quotations and Terminology
• Direct and Indirect Quotations
• Figure 5.1: Exchange rate and cross rate tables.
• Cross Rates
• Percentage Change Calculations
• FIGURE 5.2: Guide to world currencies.
• Foreign Currency Market Structure
• FIGURE 5.3: Global currency trading: the trading day.
• Table 5.1: Typical foreign currency quotations on a Reuters screen.
• Market Size and Composition
• FIGURE 5.4: Global foreign exchange market turnover (daily averages in April, billions of US dollars).
• E-BUSINESS: Online Global Currency Exchange
• CULTURE: The Linguistics of Currency Trading
• THE PURPOSE OF EXCHANGE RATES
• What Is a Currency Worth?
• The Law of One Price
• MONETARY SYSTEMS OF THE TWENTIETH CENTURY
• Table 5.2: The hamburger standard.
• The Gold Standard
• The Inter-war Years, 1919–1939
• The Bretton Woods Agreement, 1944–1971
• Times of Crisis, 1971–1973
• Floating Exchange Rates, 1973–Present
• THE EUROPEAN MONETARY SYSTEM AND THE EURO
• The Maastricht Treaty and the Euro
• ‘Why’ Monetary Unification?
• Fiscal Policy and Monetary Policy
• Fixing the Value of the Euro
• Table 5.3: The fixing of the exchange rates to the euro (€).
• Figure 5.5: Monthly average exchange rates: US dollars per euro.
• Figure 5.6: US dollar to euro currency exchange rate: past trend, present value and a prophetic future projection.
• POLITICS: Sweden Says ‘No’ to the Euro
• INTERNATIONAL MONEY MARKETS
• Eurocurrency Markets
• Eurocurrency Interest Rates
• Table 5.4: Exchange rates and Eurocurrency interest rates.
• Linking Eurocurrency Interest Rates and Exchange Rates
• INTERNATIONAL CAPITAL MARKETS
• Defining International Financing
• Figure 5.7: Categorizing international financial transactions: issuing bonds in London.
• INTERNATIONAL BANKING AND BANK LENDING
• Structure of International Banking
• INTERNATIONAL SECURITY MARKETS
• The International Bond Market
• International Equity Markets
• CULTURE: Equity Market Crises in the Twentieth Century
• Private Placements
• Gaining Access to International Financial Markets
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 6 Economic Integration
• LEARNING OBJECTIVES
• BUILDING BLOCS TOWARD WORLDWIDE FREE TRADE
• INTRODUCTION
• LEVELS OF ECONOMIC INTEGRATION
• Table 6.1: Forms of international economic integration.
• The Free Trade Area
• The Customs Union
• The Common Market
• The Economic Union
• ARGUMENTS SURROUNDING ECONOMIC INTEGRATION
• Trade Creation and Trade Diversion
• Reduced Import Prices
• Increased Competition and Economies of Scale
• Higher Factor Productivity
• Regionalism versus Nationalism
• EUROPEAN INTEGRATION
• Economic Integration in Europe from 1948 to the Mid-1980s
• POLITICS: Integration Pains
• Table 6.2: Membership of the European Union.
• Table 6.3: Main provisions of the Treaty of Rome.
• The European Union since the Mid-1980s
• POLITICS
• Organization of the EU
• Figure 6.1: Organization and decision making of the EU.
• Implications of the Integrated European Market
• Table 6.4: Proposed company responses to European markets.
• NORTH AMERICAN ECONOMIC INTEGRATION
• US–Canada Free Trade Agreement
• North American Free Trade Agreement (NAFTA)
• RETAIL: Reshaping the World Retail Market
• Latest Developments and Future Prospects for NAFTA
• OTHER ECONOMIC ALLIANCES
• Integration in Latin America
• Integration in Asia
• POLITICS: In Support of Free Trade in Asia
• Integration in Africa
• ECONOMIC INTEGRATION AND THE INTERNATIONAL MANAGER
• Effects of Change
• Strategic Planning
• Reorganization
• Lobbying
• CARTELS AND COMMODITY PRICE AGREEMENTS
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 7 The Challenge of Emerging Markets
• LEARNING OBJECTIVES
• HIGH-TECH TEACHING IN CHINA
• INTRODUCTION
• DOING BUSINESS WITH CHANGING ECONOMIES
• COMPETITION: From Global Partners to Global Competitors
• Figure 7.1: The world economic pyramid.
• INVESTMENT: R&D Investment: Pathway to Growth
• A Brief Overview of Transition Economies
• Table 7.1: Population of changing economies.
• A Brief Overview of Emerging Economies
• Table 7.2: Human capital of India and China.
• A Brief Overview of Lesser-Developed Economies
• The Realities of Economic Change
• ADJUSTING TO GLOBAL CHANGE
• Figure 7.2: Average annual growth rates in hourly compensation costs, 1994–2004.
• Figure 7.3: Manufacturing (value added) as a percentage of GDP.
• International Business Challenges and Opportunities
• Table 7.3: Business climates in key economies.
• STATE ENTERPRISES AND PRIVATIZATION
• Reasons for State-Owned Enterprises
• The Effect of State-Owned Enterprises on International Business
• Privatization
• Figure 7.4: Trends in global privatization.
• POLITICS: ‘For Sale’ Signs Up in Russia
• The Less-Developed Markets35
• THE ROLE OF THE MULTINATIONAL FIRM
• ENTREPRENEURSHIP: Meeting Need and Opportunity in Developing Markets
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• PART 3 INTERNATIONAL BUSINESS STRATEGY
• CHAPTER 8 Entry and Expansion
• LEARNING OBJECTIVES
• EXPANDING A BUSINESS
• INTRODUCTION
• THE ROLE OF MANAGEMENT
• MOTIVATIONS TO GO ABROAD
• Table 8.1: Major motivations to firms.
• Proactive Motivations
• Reactive Motivations
• ENTREPRENEURSHIP: An International Bug
• STRATEGIC EFFECTS OF GOING INTERNATIONAL
• Figure 8.1: Profit and risk during early internationalization.
• ENTRY AND DEVELOPMENT STRATEGIES
• Exporting and Importing
• Figure 8.2: Evolution of a manufacturer’s decision on entry mode.
• INTERNATIONAL INTERMEDIARIES
• Export Management Companies
• Compensation of EMCs
• Power Conflicts between EMCs and Clients
• Trading Companies
• Expansion of Trading Companies
• Private Sector Facilitators
• Public Sector Facilitators
• Table 8.2: Selected export promotion agencies around the globe.
• Licensing
• CULTURE: TV Programme Licences Are International
• Franchising
• LOCAL PRESENCE
• Inter-firm Co-operation
• Reasons for Inter-firm Co-operation
• Figure 8.3: Complementary strengths create value.
• Types of Inter-firm Co-operation
• Figure 8.4: Forms of inter-firm co-operation.
• Equity Participation
• Joint Ventures
• Consortia
• Managerial Considerations
• Full Ownership
• Table 8.3: Comparison of conditions of implementation, advantages and disadvantages of various entry modes.
• A COMPREHENSIVE VIEW OF INTERNATIONAL EXPANSION
• Figure 8.5: A comprehensive model of international market entry and development.
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 9 Strategic Planning, Organization, Implementation and Control
• LEARNING OBJECTIVES
• THE CHANGING LANDSCAPE OF GLOBAL MARKETS
• GLOBALIZATION
• Figure 9.1: Evolution of global strategy.
• Globalization Drivers3
• Market Factors
• Cost Factors
• Table 9.1: Consolidation in the paper industry 1998–2002.
• Environmental Factors
• Competitive Factors
• The Outcome
• ENTREPRENEURSHIP: Mininationals Leap into Global Markets
• Figure 9.2: The global landscape by industry and market.
• THE STRATEGIC PLANNING PROCESS
• Understanding and Adjusting the Core Strategy
• Figure 9.3: Global strategy formulation.
• Market and Competitive Analysis
• Internal Analysis
• Formulating Global Marketing Strategy
• Choice of Competitive Strategy
• Figure 9.4: Competitive strategies.
• Country-Market Choice
• Figure 9.5: Example of a market-portfolio matrix.
• Figure 9.6: Example of strategic interconnectedness matrix.
• Segmentation
• Figure 9.7: Bases for global market segmentation.
• Table 9.2: Global segments based on cultural values.
• Global Programme Development
• Product Offering
• Marketing Approach
• Location of Value-Added Activities
• Table 9.3: Globalization of the marketing mix.
• Competitive Moves
• Implementing Global Programmes
• Challenges
• Localizing Global Moves
• Management Processes
• Organization Structures
• E-BUSINESS: Taking Globalism to the Extremes
• Corporate Culture
• ORGANIZATIONAL STRUCTURE
• Organizational Designs
• Little or No Formal Organization
• Figure 9.8: The export department structure.
• The International Division
• Figure 9.9: The international division structure.
• Global Organizational Structures
• Product Structure
• Figure 9.10: The global product structure (Kodak).
• Area Structure
• Figure 9.11: The global area structure.
• Functional Structure
• Figure 9.12: The global functional structure.
• Customer Structure
• Mixed Structure
• Figure 9.13: Global matrix structure (S&M stands for Sales and Marketing).
• Matrix Structure
• Evolution of Organizational Structures
• Figure 9.14: Evolution of international structures.
• IMPLEMENTATION
• Locus of Decision Making
• Table 9.4: Levels of co-ordination.
• Factors Affecting Structure and Decision Making
• The Networked Global Organization
• Figure 9.15: The networked global organization.
• ENTREPRENEURSHIP: Centres of Excellence
• Promoting Internal Co-operation
• Table 9.5: Teaching programmes at Ford Motor Co.
• The Role of Country Organizations
• Figure 9.16: Roles for country organizations.
• CONTROLS
• Types of Controls
• E-BUSINESS: Knowledge across Boundaries
• Bureaucratic/Formalized Control
• Table 9.6: Comparison of bureaucratic and cultural control mechanisms.
• Cultural Control
• Figure 9.17: Securing country–organization co-operation.
• Exercising Controls
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND – STRATEGY
• FOR DISCUSSION
• TAKE A STAND – ORGANIZATION
• FOR DISCUSSION
• PART 4 INTERNATIONAL BUSINESS OPERATIONS
• CHAPTER 10 Marketing, Logistics and Supply-Chain Management
• LEARNING OBJECTIVES
• BEING A GOOD SPORT GLOBALLY
• MARKETING IN INTERNATIONAL BUSINESS OPERATIONS
• TARGET MARKET SELECTION
• Identification and Screening
• Preliminary Screening
• Figure 10.1: The screening process in target market choice.
• Estimating Market Potential
• Estimating Sales Potential
• Identifying Segments
• Concentration versus Diversification
• Expansion Alternatives
• Factors Affecting Expansion Strategy
• Market-Related Factors
• Table 10.1: Factors affecting the choice between concentration and diversification strategies.
• Mix-Related Factors
• Company-Related Factors
• MARKETING MANAGEMENT
• Standardization versus Adaptation
• Table 10.2: Standardization versus adaptation.
• Factors Affecting Adaptation
• Marketing Mix Policy
• Product Policy
• Figure 10.2: Factors affecting product adaptation decisions.
• Pricing Policy
• LOGISTICS: Export Documentation
• LOGISTICS: Terms of Shipment and Sale
• Distribution Policy
• Promotional Policy
• LOGISTICS: Distribution and Supply-Chain Management – Logistics in China
• LOGISTICS: Ocean Shipping
• LOGISTICS: Air Shipping
• INTERNATIONAL LOGISTICS DEFINED
• SUPPLY-CHAIN MANAGEMENT
• Figure 10.3: The international supply chain.
• DIMENSIONS OF INTERNATIONAL LOGISTICS
• International Transportation Issues
• Table 10.3: Evaluating transportation options.
• International Inventory Issues
• INTERNATIONAL PACKAGING ISSUES
• Figure 10.4: Stresses in intermodal movement.
• INTERNATIONAL STORAGE ISSUES
• Special Trade Zones
• MANAGEMENT OF INTERNATIONAL LOGISTICS
• Centralized Logistics Management
• Decentralized Logistics Management
• Outsourcing Logistics Services
• SUMMARY
• QUESTIONS FOR DISCUSSION
• TAKE A STAND (1)
• FOR DISCUSSION
• TAKE A STAND (2)
• FOR DISCUSSION
• CHAPTER 11 Financial Management
• LEARNING OBJECTIVES
• THE FINANCIAL CHALLENGES OF SCHERING-PLOUGH
• INTRODUCTION
• WHAT IS THE GOAL OF MANAGEMENT?
• Global Financial Goals
• ETHICS Stockholder Wealth Maximization and Corporate Culture: The Enron Debacle
• Genus Corporation
• Tax Management
• Figure 11.1: Genus corporation and foreign subsidiaries.
• Currency Management
• Funds Flow Management
• Multinational Management
• Table 11.1: Genus corporation’s consolidated gross profits (in 000s).
• IMPORT/EXPORT TRADE FINANCING
• Figure 11.2: Trade financing with a letter of credit.
• Trade Financing Using a Letter of Credit (L/C)
• MULTINATIONAL INVESTING
• Capital Budget Components and Decision Criteria
• A Proposed Project Evaluation
• Table 11.2: Multinational capital budget: Singapore manufacturing facility.
• Risks in International Investments
• INTERNATIONAL CASH FLOW MANAGEMENT
• Figure 11.3: Operating and financing cash flows of a multinational firm.
• Operating Cash Flows and Financing Cash Flows
• Intra-firm Cash Flows and Transfer Prices
• POLITICS Swiss Unit Pays Penalty for Transfer Pricing Abuse
• Cash Management
• Figure 11.4: Netting and cash pooling of cash flows in the multinational firm.
• Netting
• Cash Pooling
• Leads and Lags
• Figure 11.5: Establishing a re-invoicing centre in the multinational firm.
• Re-Invoicing
• Internal Banks
• FOREIGN EXCHANGE EXPOSURE
• Transaction Exposure
• CULTURE To Hedge or Not to Hedge?
• Transaction Exposure Management
• ETHICS The Role of Currency Gains in Amazon.com’s Quest for Profits
• Risk Management versus Speculation
• Currency Risk Sharing
• ECONOMIC EXPOSURE
• Impact of Economic Exposure
• Economic Exposure Management
• COUNTERTRADE
• POLITICS The Booming Business of Countertrade
• A Definition of Countertrade
• Table 11.3: A sample of barter agreements.
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• CHAPTER 12 Human Resource Management1
• LEARNING OBJECTIVES
• SEARCHING FOR GLOBAL EXECS
• INTRODUCTION
• MANAGING MANAGERS
• Early Stages of Internationalization
• Advanced Stages of Internationalization
• Figure 12.1: International management development.
• Inter-firm Co-operative Ventures
• Sources for Management Recruitment
• Table 12.1: The major advantages and disadvantages of expatriates.
• Selection Criteria for Overseas Assignments
• Table 12.2: Criteria for selecting managers for overseas assignment.
• Competence Factors
• Adaptability Factors
• Personal Characteristics
• CULTURE Women and the Global Corporate Ladder
• The Selection and Orientation Challenge
• Figure 12.2: Companies offering cultural training.
• Culture Shock
• Figure 12.3: Culture shock cycle for an overseas assignment.
• Causes and Remedies
• Terrorism: Tangible Culture Shock
• Repatriation
• Compensation
• Base Salary and Salary-Related Allowances
• Table 12.3: International cost comparisons.
• Nonsalary-Related Allowances
• Method of Payment
• Compensation of Host-Country Nationals
• MANAGING LABOUR PERSONNEL
• Labour Participation in Management
• Labour Participation in Decision Making
• Table 12.4: Degree of worker involvement in decision making of firms.
• Improvement of Quality of Work Life
• The Role of Labour Unions
• ETHICS Global Unions versus Global Companies
• Human Resource Policies
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• PART 5 FUTURE
• CHAPTER 14 New Horizons
• LEARNING OBJECTIVES
• IMPORTING ON THE INTERNET
• INTRODUCTION
• THE INTERNATIONAL BUSINESS ENVIRONMENT
• The Political Environment
• Planned versus Market Economies
• The North — South Relationship
• Emerging Markets
• POLITICS Food Fight in Africa
• A Divergence of Values
• Figure 14.1: General economic indicators: GDP volume and GDP growth.
• The International Financial Environment
• Figure 14.2: General economic indicators: GDP per capita.
• Figure 14.3: General economic indicators: GDP composition.
• The Effects of Population Shifts
• The Technological Environment
• GLOBALIZATION AND TRADE NEGOTIATIONS
• GOVERNMENT POLICY
• THE FUTURE OF INTERNATIONAL BUSINESS MANAGEMENT
• International Planning and Research
• Figure 14.4: Long-term planning.
• International Product Policy
• TABLE 14.1: US patents granted to foreign inventors in 2002.
• International Communications
• Distribution Strategies
• International Pricing
• KNOWLEDGE AND INTERNATIONAL BUSINESS
• CAREERS IN INTERNATIONAL BUSINESS
• CULTURE Ensuring Student Safety Abroad
• Further Training
• Employment with a Large Firm
• Table 14.2: Web sites in gaining international employment.
• Opportunities for Women in Global Management
• Employment with a Small or Medium-Sized Firm
• Self-Employment
• SUMMARY
• QUESTIONS FOR DISCUSSION
• INTERNET EXERCISES
• TAKE A STAND
• FOR DISCUSSION
• PART 6 CASE STUDIES
• Case Study 1 RENAMING THE VIETNAMESE CATFISH1
• The US Catfish Industry
• The Issue
• Congressional Reaction
• When Is a Catfish a Catfish?
• The Issue and the Free Trade
• Questions for Discussion
• Case Study 2 TURKEY’S KRIZ
• TURKEY’S KRIZ
• The Balance of Payments Accounts
• Figure 1: Turkey’s balance of payments, 1993-2000.
• Table 1: Sub-accounts of the Turkish current account, 1998-2000 (millions of US dollars).
• Table 2: Sub-accounts of the Turkish financial account, 1998-2000 (millions of US dollars).
• Turkish Banking
• Figure 2: Turkish inflation rate and exchange rate (quarterly).
• Figure 3: The fall of the Turkish Lira. Time period shown in diagram: 1 June 2000-30 May 2001.
• Economic Death Spiral
• Turkish Kriz
• Questions for Discussion
• Case Study 3 GLOBALIZING A SMALL HYDRAULIC FIRM FROM EASTERN EUROPE1
• Transformation of a Bulgarian Small Enterprise
• Environmental Characteristics
• Market Position
• Company Performance
• Competitive Environment
• Rammer
• Svedala
• Case Corporation
• Darda Corporation
• Genesis
• Gradall
• Grasan
• Indeco
• Padley and Venables
• Aquajet
• Atlas Copco
• Brokk
• Dimas
• Soosan Breakers
• Latest Developments
• Questions for Discussion
• Case Study 4 COSMETICS FROM POLAND1
• The Polish Cosmetics Market
• Figure 1: Market size, US$ million.
• The Company
• Figure 2: Structure of the R&D department. More details about the research programme can be obtained from: www.drirenaeris.pl/badania/en/badania.php and www.drirenaeris.pl/en/kosmetyki_skladniki.php.
• Brand Image
• Diversification
• Figure 3: Brands and consumer target groups. More information about the products and brands can be found at www.beautyexclusive.com/erisskincare.html.
• Figure 4: Market segments and company brands.
• Marketing Communications
• Internationalization
• Questions for Discussion
• Case Study 5 GENERAL MOTORS AND AVTOVAZ OF RUSSIA
• General Motors Corporation
• The Russian Automobile Industry
• Table 1: The Russian car industry, 1991-1999 (units).
• AvtoVAZ
• AvtoVAZ Ownership
• Figure 1: AvtoVAZ’s web of influence and ownership.
• AvtoVAZ Suppliers
• Dealerships and Distribution
• International Activities
• Table 2: AvtoVAZ suppliers owned or controlled by SOK.
• Table 3: AvtoVAZ exports.
• Foreign Entry into Russia
• Table 4: Foreign car producers in Russia.
• Renewed Interest
• Table 5: Russian car market shares by price.
• Negotiations
• Market Strategy
• Timing
• Financing
• Structure
• Progress
• Questions for Discussion
• Appendix 1
• Appendix 2
• Appendix 3
• Appendix 4
• Appendix 5
• Case Study 6 GLOBAL TELECOM LEADERS MEET A FAMILY CONGLOMERATE
• Importance of the Turkish Market as an Emerging Economy
• The Uzan Conglomerate
• Motorola and Nokia: The Western Partners
• Figure 1: Motorola: by the numbers.
• Nokia
• Figure 2: Motorola performance 1999-2003.
• Figure 3: Motorola net income/loss 1999-2002.
• The Turkish Telecom Market
• Figure 4: Motorola revenues 1999-2002.
• Figure 5: Telephone subscribers (fixed and mobile) per 100 inhabitants in Turkey.
• Table 1: Wireless markets in Europe.
• TelSim’s Foreign Partners and the Default
• Table 2: Turkish mobile market leaders.
• The Aftermath of the Conflict
• Questions for Discussion
• Case Study 7 TOYOTA EUROPE
• Currency Exposure
• Management Response
• Figure 1: Toyota Motor’s European currency operating structure.
• Figure 2: Daily exchange rates: Japanese yen per euro.
• Figure 3: Daily exchange rates: British pounds per euro.
• Questions for Discussion
• Case Study 8 WHEN DIAMONDS WEEP
• From Mine to Market
• The De Beers Dynasty
• Figure 1: Major diamond-producing countries.
• Figure 2: Global retail sales of diamond jewellery.
• Controversies Arise
• The History of Conflict Diamonds
• Investigators Bring Problem to Light
• Ties to Terrorist Groups
• Table 1: Belgian diamond imports compared with exports from certain countries (US$ millions).
• The Kimberley Process
• Critics Speak Out
• The US Response
• New Technologies Offer Solutions
• Questions for Discussion
• Case Study 9 BUILDING A COMPETITIVE ADVANTAGE IN A MATURE INDUSTRY: THE CASE OF GORENJE
• Introduction
• Gorenje’s Timeline
• 1950–1960
• 1961–1970
• 1971–1980
• 1981–1990
• 1991–1996
• 1997–2005
• 2006
• 2007
• The Household Appliance Industry
• Table 1: SWOT analysis for European home appliance companies.
• Gorenje’s Business Strategy
• Gorenje’s Internationalization Strategy
• Figure 1: Gorenje branding strategies.
• Table 2: Gorenje’s investments by entry mode.
• Figure 2: Gorenje large household appliance unit sales by region in 2006.
• Figure 3: Number of manufactured household appliances by year (in ’000s household appliances).
• The Future
• Discussion Questions
• Case Study 10 BOLIVIA NATIONALIZES THE OIL AND GAS SECTOR1
• The Nationalization Spree
• Oil and Gas Resources in Bolivia
• Oil Resources
• Gas Resources
• Figure 1(a): Map of Bolivia.
• Figure 1(b): Bolivia – a brief profile
• The Bolivian Gas War
• Figure 2: Bolivia GDP growth by sectors 1990-2003.
• Figure 3: Oil production and consumption in Bolivia: 1980-2005. The production and consumption figures are for the months of January to June in every year.
• Figure 4: History of oil in Bolivia.
• Figure 5: History of natural gas in Bolivia.
• Figure 6: Bolivia’s natural gas reserves: 1997-2005.
• Figure 7: Gas production and consumption in Bolivia: 1980-2003.
• Table 1: Brief profile of the oil and gas sector in Bolivia (figures reported in 2005).
• The Nationalization
• Table 2: Questions in the referendum.
• Table 3: Results of the referendum.
• Table 4: Key points in the nationalization decree.
• Figure 8: Complete text of the presidential decree (28 701) on nationalization of oil and gas sector.
• Benefits of Nationalization
• The Criticism
• The Two Summits
• The Road Ahead
• Questions for Discussion
• FURTHER READING
• Case Study 11 CORPORATE GOVERNANCE AT BAYERISCHE MOTOREN WERKE (BMW)
• Introduction
• Background Note
• Figure 1: BMW group: figures.
• The Board of Management and Supervisory Board
• Figure 2: Board of directors
• Board of Management
• Tasks and Responsibilities
• Composition and Compensation
• Conflicts of Interest
• The Supervisory Board
• Tasks and Responsibilities
• Figure 3: Supervisory board.
• Formation of Committees
• Composition and Compensation
• Conflicts of Interest
• Transparency
• Questions for Discussion
• FURTHER READING
• Case Study 12 DANFOSS’ BUSINESS STRATEGY IN CHINA1
• Introduction
• Background Note
• Figure 1: Danfoss organization.
• Table 1: Danfoss worldwide — financial performance (2001–2005).
• Danfoss Enters China
• Figure 2: Air-conditioning and refrigeration industry in China. (Compiled from various sources).
• Figure 3: Danfoss in China.
• The Initial Years
• The China Strategy
• Table 2: Danfoss’ manufacturing facilities.
• Figure 4: Danfoss — product categories in China.
• Figure 5: Cold food chain in China. (Compiled from various sources).
• Table 3: Danfoss — eight most important success factors for doing business in China.
• The Road Ahead
• Questions for Discussion
• FURTHER READING
• Case Study 13 GAZPROM–NAFTOGAZ UKRAINY DISPUTE: BUSINESS OR POLITICS?1
• Introduction
• Background
• Figure 1: Gazprom’s gas exports to Western Europe in Bcm (2000–2004).
• Figure 2: Gas exports to Europe transiting through Ukraine and other countries.
• Exports to Europe
• Figure 3: Gazprom’s production and financial details.
• Figure 4: World proven natural gas reserves by region as of 1 January 2004.
• Disputes with Ukraine
• Gas Disputes in the 1990s
• Figure 5: Gazprom’s alternative options for gas exports.
• Elections in Ukraine
• Turn of Events
• Political Aspect
• Figure 6: Gazprom’s 2006 tariffs per 1000 cubic metres of gas. Compiled from various sources.
• The Settlement
• Outlook
• Questions for Discussion
• FURTHER READING
• Case Study 14 WAL-MART’S GERMAN MISADVENTURE1
• German Blues
• Background Note
• Table 1: Wal-Mart retail divisions.
• Business Segments
• Wal-Mart’s International Operations
• Table 2: Wal-Mart specialty divisions.
• Table 3: Wal-Mart’s international presence in 2003.
• Table 4: Operating income from international operations.
• Wal-Mart in Germany
• Entry Strategy Gone Wrong?
• Problems in Operating Environment
• Figure 1: A note on the retailing industry in Germany.
• Figure 2: Profiles of German retailers.
• Problems in External Environment
• Cultural Mismatch
• Future Prospects
• Table 5: Sales and operating profit in Germany.
• Table 6: Customer satisfaction ratings of German retailers.
• Questions for Discussion
• FURTHER READING
• Back Matter
• GLOSSARY
• A
• B
• C
• D
• E
• F
• G
• H
• I
• J
• L
• M
• N
• O
• P
• Q
• R
• S
• T
• U
• V
• W
• REFERENCES
• Chapter 1
• Chapter 2
• Chapter 3
• Chapter 4
• Chapter 5
• Chapter 6
• Chapter 7
• Chapter 8
• Chapter 9
• Chapter 10
• Chapter 11
• Chapter 12
• Chapter 13
• Chapter 14
• Case Study 1
• Case Study 5
• Case Study 6
• Case Study 8
• Case Study 10
• Case Study 12
• Case Study 13
• Case Study 14
• INDEX