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• Contents
• Maps
• Preface
• Acknowledgments
• About the Authors
• PART 1 The World’s Marketplaces
• Chapter 1 An Overview of International Business
• The Business of the Olympics
• What Is International Business?
• Why Study International Business?
• BRINGING THE WORLD INTO FOCUS: A Rose by Any Other Name …
• International Business Activities
• Exporting and Importing
• BRINGING THE WORLD INTO FOCUS: The Early Era of International Business
• International Investments
• Other Forms of International Business Activity
• The Era of Globalization
• The Contemporary Causes of Globalization
• Strategic Imperatives
• The Environmental Causes of Globalization
• VENTURING ABROAD: Abu Dhabi and British Football
• Globalization and Emerging Markets
• An Overview of the Contents of This Book
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Demography Is Destiny
• Endnotes
• Chapter 2 Global Marketplaces and Business Centers
• Trade Is Blosssoming
• The Marketplaces of North America
• The United States
• Canada
• EMERGING OPPORTUNITIES: Classifying Countries by Income Levels
• Mexico
• Central America and the Caribbean
• The Marketplaces of Western Europe
• The Marketplaces of Eastern Europe and Central Asia
• The Marketplaces of Asia
• Japan
• Australia and New Zealand
• The Four Tigers
• China
• India
• Southeast Asian Countries
• The Marketplaces of Africa and the Middle East
• Africa
• Middle East
• The Marketplaces of South America
• VENTURING ABROAD: The New Player in Global Capital Markets: Sovereign Wealth Funds
• VENTURING ABROAD: Connecting Global Marketplaces: DHL Express
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: China’s Quest for Natural Resources
• Endnotes
• Chapter 3 Legal, Technological, Accounting, and Political Environments
• Harry Potter Goes to China
• The Legal Environment
• Differences in Legal Systems
• E-WORLD: Law and the Internet
• Domestically Oriented Laws
• Laws Directly Affecting International Business Transactions
• Laws Directed Against Foreign Firms
• The Impacts of MNCs on Host Countries
• Dispute Resolution in International Business
• The Technological Environment
• BRINGING THE WORLD INTO FOCUS: The Real Problem with Counterfeiting
• The Accounting Environment
• The Roots of National Differences
• Differences in Accounting Practices
• BRINGING THE WORLD INTO FOCUS: The Sarbanes-Oxley Act
• Impact on Capital Markets
• The Political Environment
• Political Risk
• EMERGING OPPORTUNITIES: Piracy on the High Seas
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Risky Business in Venezuela
• Endnotes
• Chapter 4 The Role of Culture
• Bollywood Abroad
• Characteristics of Culture
• E-WORLD: The Internet, National Competitiveness, and Culture
• Elements of Culture
• Social Structure
• BRINGING THE WORLD INTO FOCUS: The Impact of Japanese Culture on Business
• Language
• Communication
• Religion
• BRINGING THE WORLD INTO FOCUS: Islamic Finance
• Values and Attitudes
• Seeing the Forest, Not the Trees
• Hall’s Low-Context–High-Context Approach
• The Cultural Cluster Approach
• Hofstede’s Five Dimensions
• Social Orientation
• Power Orientation
• Uncertainty Orientation
• Goal Orientation
• Time Orientation
• International Management and Cultural Differences
• Understanding New Cultures
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Quacking Up a Storm of Business
• Endnotes
• Chapter 5 Ethics and Social Responsibility in International Business
• BP: Safety First or Profits First?
• The Nature of Ethics and Social Responsibility in International Business
• Ethics in Cross-Cultural and International Contexts
• How an Organization Treats Its Employees
• How Employees Treat the Organization
• How Employees and the Organization Treat Other Economic Agents
• Managing Ethical Behavior Across Borders
• Guidelines and Codes of Ethics
• Ethics Training
• Organizational Practices and the Corporate Culture
• Social Responsibility in Cross-Cultural and International Contexts
• VENTURING ABROAD: Siemen Pays—and Pays and Pays
• Areas of Social Responsibility
• Organizational Stakeholders
• The Natural Environment
• General Social Welfare
• Managing Social Responsibility Across Borders
• Approaches to Social Responsibility
• BRINGING THE WORLD INTO FOCUS: Should Firms Practice Corporate Social Responsibility?
• Managing Compliance
• Informal Dimensions of Social Responsibility
• Evaluating Social Responsibility
• Difficulties of Managing CSR Across Borders
• The Anglo-Saxon Approach
• The Asian Approach
• The Continental European Approach
• Regulating International Ethics and Social Responsibility
• EMERGING OPPORTUNITIES: Conflict Diamonds
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: A Pipeline of Good Intentions
• PART 1: CLOSING CASES: KFC in China
• Endnotes
• PART 2 The International Environment
• Chapter 6 International Trade and Investment
• The Mittelstand Lead the Way
• International Trade and the World Economy
• Classical Country-Based Trade Theories
• Mercantilism
• Absolute Advantage
• Comparative Advantage
• Comparative Advantage with Money
• BRINGING THE WORLD INTO FOCUS: The Lincoln Fallacy
• Relative Factor Endowments
• Modern Firm-Based Trade Theories
• Product Life Cycle Theory
• Country Similarity Theory
• New Trade Theory
• Porter’s Theory of National Competitive Advantage
• EMERGING OPPORTUNITIES: Multimedia and Oil Clusters
• An Overview of International Investment
• Types of International Investments
• The Growth of Foreign Direct Investment
• Foreign Direct Investment and the United States
• International Investment Theories
• Ownership Advantages
• Internalization Theory
• Dunning’s Eclectic Theory
• Factors Influencing Foreign Direct Investment
• Supply Factors
• Demand Factors
• Political Factors
• VENTURING ABROAD: How Important Is the Rule of Law?
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Twenty-First Century Pirates
• Endnotes
• Chapter 7 The International Monetary System and the Balance of Payments
• Will the Stars Shine on Astra Again?
• History of the International Monetary System
• The Gold Standard
• The Collapse of the Gold Standard
• The Bretton Woods Era
• The End of the Bretton Woods System
• Performance of the International Monetary System Since 1971
• BRINGING THE WORLD INTO FOCUS: Fixed versus Flexible Exchange Rates
• BRINGING THE WORLD INTO FOCUS: Should Bretton Woods be Restored?
• The Balance of Payments Accounting System
• The Major Components of the Balance of Payments Accounting System
• BRINGING THE WORLD INTO FOCUS: Ben Franklin,World Traveler
• The U.S. Balance of Payments in 2010
• Defining Balance of Payments Surpluses and Deficits
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Recent U.S. BOP Performance: Is the Sky Falling?
• Endnotes
• Chapter 8 Foreign Exchange and International Financial Markets
• The Loonie Takes Flight
• The Economics of Foreign Exchange
• The Structure of the Foreign-Exchange Market
• BRINGING THE WORLD INTO FOCUS: A Brief Hint
• The Role Of Banks
• E-WORLD: The Biggest Online Market
• Spot and Forward Markets
• Arbitrage and the Currency Market
• BRINGING THE WORLD INTO FOCUS: The Big Mac Index
• The International Capital Market
• VENTURING ABROAD: The Carry Trade
• Major International Banks
• The Eurocurrency Market
• The International Bond Market
• Global Equity Markets
• Offshore Financial Centers
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Subprime Meltdown, Global Recession
• Endnotes
• Chapter 9 Formulation of National Trade Policies
• Jumbo Battle over Jumbo Jets
• Rationales for Trade Intervention
• Industry-Level Arguments
• National Trade Policies
• Barriers to International Trade
• Tariffs
• VENTURING ABROAD: Emirates Airline Expansion Endeavor: The Case of the Canadian Market
• Nontariff Barriers
• BRINGING THE WORLD INTO FOCUS: The Fight over Rare Earths
• Promotion of International Trade
• Subsidies
• Foreign Trade Zones
• EMERGING OPPORTUNITIES: Cotton Subsidies and World Poverty
• Export Financing Programs
• Controlling Unfair Trade Practices
• Countervailing Duties
• Antidumping Regulations
• Should Countries Enforce Their Unfair Trade Practice Laws?
• Safeguards
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Green Energy and Free Trade
• Endnotes
• Chapter 10 International Cooperation Among Nations
• Trade and Prosperity: The Case of Mexico
• The General Agreement on Tariffs and Trade and the World Trade Organization
• The Role of the General Agreement on Tariffs and Trade
• BRINGING THE WORLD INTO FOCUS: Most Nations Are Favored
• The World Trade Organization
• Regional Economic Integration
• Forms of Economic Integration
• The Impact of Economic Integration on Firms
• The European Union
• Governing the European Union
• BRINGING THE WORLD INTO FOCUS: Three Majorities Are Better Than One
• The Struggle to Create a Common Market
• VENTURING ABROAD: Lobbying the European Union
• From Common Market to European Union
• Other Regional Trading Blocs
• The North American Free Trade Agreement
• Other Free Trade Agreements in the Americas
• Trade Arrangements in the Asia-Pacific Region
• African Initiatives
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: The New Conquistador
• PART 2: CLOSING CASES: The Second Cultural Revolution
• Endnotes
• PART 3 Managing International Business
• Chapter 11 International Strategic Management
• Global Mickey
• The Challenges of International Strategic Management
• EMERGING OPPORTUNITIES: How Does a Japanese Firm Compete in China? … Act More American
• Strategic Alternatives
• BRINGING THE WORLD INTO FOCUS: Master of the Furniture Universe
• Components of an International Strategy
• Distinctive Competence
• Scope of Operations
• Resource Deployment
• Synergy
• Developing International Strategies
• Mission Statement
• Environmental Scanning and the SWOT Analysis
• Strategic Goals
• Tactics
• E-WORLD: Nokia: No Longer King of the Hill
• Control Framework
• Levels of International Strategy
• Corporate Strategy
• Business Strategy
• Functional Strategies
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: The Global Success of SM Entertainment
• Endnotes
• Chapter 12 Strategies for Analyzing and Entering Foreign Markets
• The Business of Luxury
• Foreign Market Analysis
• Assessing Alternative Foreign Markets
• EMERGING OPPORTUNITIES: The Bottom of the Pyramid
• Evaluating Costs, Benefits, and Risks
• Choosing a Mode of Entry
• Exporting to Foreign Markets
• Forms of Exporting
• Additional Considerations
• VENTURING ABROAD: Dnata: Global Growth Strategy
• Export Intermediaries
• International Licensing
• Basic Issues In International Licensing
• Advantages and Disadvantages of International Licensing
• International Franchising
• Basic Issues in International Franchising
• Advantages and Disadvantages of International Franchising
• Specialized Entry Modes for International Business
• Contract Manufacturing
• Management Contract
• Turnkey Project
• EMERGING OPPORTUNITIES: Business Process Outsourcing
• Foreign Direct Investment
• The Greenfield Strategy
• The Acquisition Strategy
• Joint Ventures
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• Follow-Up Questions
• CLOSING CASE: Middle and Far East Investors Target Kazakhstan
• Endnotes
• Chapter 13 International Strategic Alliances
• The European Cereal Wars
• International Corporate Cooperation
• Benefits of Strategic Alliances
• Ease of Market Entry
• Shared Risk
• Shared Knowledge and Expertise
• EMERGING OPPORTUNITIES: The Ups and Downs of Market Entry
• Synergy and Competitive Advantage
• Scope of Strategic Alliances
• Comprehensive Alliances
• Functional Alliances
• VENTURING ABROAD: Alliances in the Sky
• Implementation of Strategic Alliances
• Selection of Partners
• Form of Ownership
• VENTURING ABROAD: Learning by Doing
• Joint Management Considerations
• Pitfalls of Strategic Alliances
• Incompatibility of Partners
• EMERGING OPPORTUNITIES: Hu’s in Charge
• Access to Information
• Conflicts over Distributing Earnings
• Loss of Autonomy
• Changing Circumstances
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Look Before You Leap
• Endnotes
• Chapter 14 International Organization Design and Control
• Lenovo Spreads Its Global Wings
• The Nature of International Organizational Design
• Global Organization Designs
• Global Product Design
• Global Area Design
• Global Functional Design
• EMERGING OPPORTUNITIES: Flying Solo in China
• Global Customer Design
• Global Matrix Design
• Hybrid Global Designs
• Related Issues in Global Organization Design
• Centralization versus Decentralization
• Role of Subsidiary Boards of Directors
• Coordination in the Global Organization
• The Control Function in International Business
• Strategic Control
• Organizational Control
• Operations Control
• Managing the Control Function in International Business
• Establishing International Control Systems
• BRINGING THE WORLD INTO FOCUS: Ford Aims High
• Essential Control Techniques
• BRINGING THE WORLD INTO FOCUS: Getting Back to Basics
• Behavioral Aspects of International Control
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Unilever matches Strategy and Structure
• Endnotes
• Chapter 15 Leadership and Employee Behavior in International Business
• Leadership Issues at Toyota
• Individual Behavior in International Business
• Personality Differences Across Cultures
• Attitudes Across Cultures
• Perception Across Cultures
• Stress Across Cultures
• Motivation in International Business
• BRINGING THE WORLD INTO FOCUS: Mixing and Matching in a Joint Venture
• Needs and Values Across Cultures
• Motivational Processes Across Cultures
• Need-Based Models Across Cultures
• Process-Based Models Across Cultures
• The Reinforcement Model Across Cultures
• Leadership in International Business
• Decision Making in International Business
• Models of Decision Making
• The Normative Model Across Cultures
• BRINGING THE WORLD INTO FOCUS: Risky Decisions Lead the Way for Porsche
• The Descriptive Model Across Cultures
• Groups and Teams in International Business
• The Nature of Group Dynamics
• Managing Cross-Cultural Teams
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Ikea’s Transformational Leader
• PART 3: CLOSING CASES: Reinventing Nissan
• Endnotes
• PART 4 Managing International Business Operations
• Chapter 16 International Marketing
• ”Tune in to Budget Inn”: Budget Hotel Brands Go Global
• International Marketing Management
• International Marketing and Business Strategies
• EMERGING OPPORTUNITIES: Pretty Garlic
• The Marketing Mix
• Standardization Versus Customization
• Product Policy
• Standardized Products or Customized Products?
• Legal Forces
• Cultural Influences
• Economic Factors
• E-WORLD: E-Translation
• Brand Names
• Pricing Issues and Decisions
• Pricing Policies
• Market Pricing
• Promotion Issues and Decisions
• Advertising
• BRINGING THE WORLD INTO FOCUS: Sailing for Sales
• Personal Selling
• Sales Promotion
• Public Relations
• Distribution Issues and Decisions
• International Distribution
• Channels of Distribution
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: A Call for Progress
• Endnotes
• Chapter 17 International Operations Management
• Racing to Market
• The Nature of International Operations Management
• The Strategic Context of International Operations Management
• Complexities of International Operations Management
• Production Management
• Supply Chain Management and Vertical Integration
• BRINGING THE WORLD INTO FOCUS: Dealing with the Unexpected
• Location Decisions
• International Logistics and Materials Management
• BRINGING THE WORLD INTO FOCUS: Cutting Costs to the Bone
• International Service Operations
• Characteristics of International Services
• The Role of Government in International Services Trade
• Managing Service Operations
• Managing Productivity in International Business
• Managing Quality in International Business
• Managing Information in International Business
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Double Irish and a Dutch Sandwich
• Endnotes
• Chapter 18 International Financial Management
• Singapore Airlines’s Worldwide Financial Management
• Financial Issues in International Trade
• Choice of Currency
• Credit Checking
• Method of Payment
• Financing Trade
• Managing Foreign Exchange Risk
• Transaction Exposure
• Translation Exposure
• Economic Exposure
• Management of Working Capital
• Minimizing Working Capital Balances
• Minimizing Currency Conversion Costs
• Minimizing Foreign-Exchange Risk
• International Capital Budgeting
• Net Present Value
• Internal Rate of Return
• Payback Period
• Sources of International Investment Capital
• External Sources of Investment Capital
• Internal Sources of Investment Capital
• Strategic Use of Transfer Pricing
• VENTURING ABROAD: Taxation of Subsidiary Income by the U.S. Government
• EMERGING OPPORTUNITIES: Sun, Sand, and Shells
• Tax Havens
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Double Irish and a Dutch Sandwich
• Endnotes
• Chapter 19 International Human Resource Management and Labor Relations
• An Emerging Voice for Workers
• The Nature of International Human Resource Management
• Strategic Significance of HRM
• International Managerial Staffing Needs
• Scope of Internationalization
• Centralization versus Decentralization of Control
• Staffing Philosophy
• EMERGING OPPORTUNITIES: Thinking Globally but Hiring Locally
• BRINGING THE WORLD INTO FOCUS: Schlumberger Profits from Geocentric Staffing
• Recruitment and Selection
• Recruitment of Managers
• Selection of Managers
• Expatriation and Repatriation Issues
• Training and Development
• Assessing Training Needs
• Basic Training Methods and Procedures
• Developing Younger International Managers
• Performance Appraisal and Compensation
• Assessing Performance in International Business
• Determining Compensation in International Business
• BRINGING THE WORLD INTO FOCUS: Japanese Management Techniques in China
• Retention and Turnover
• Human Resource Issues for Nonmanagerial Employees
• Recruitment and Selection
• Training and Development
• Compensation and Performance Appraisal
• Labor Relations
• Comparative Labor Relations
• Collective Bargaining
• Union Influence and Codetermination
• Chapter Review
• Summary
• Questions for Discussion
• Building Global Skills
• CLOSING CASE: Chicago Food and Drink Company
• PART 4: CLOSING CASES: The Aramco Advantage
• Endnotes
• Glossary
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