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International Business and Access Code Card

ISBN: 9780131024113 | 0131024116
Edition: 2nd
Format: Hardcover
Publisher: Pearson (Manual)
Pub. Date: 1/1/2003

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SummaryTable of Contents
This is a cross-functional international business text geared for both 2&4 yr. schools, it is often taught at the jr./sr. level in 4 yr. schools. This text integrates functional areas to take a more strategic or managerial perspective. This text covers the topic of culture earlier than most competing texts. This book has a "Complete Pack" visit www.prehnall.com/custombusiness.
Prefacexi
About the Authorsxxv
Special Featuresxxvii
PART ONE GLOBAL BUSINESS ENVIRONMENT2(36)
International Business Today
... MORE2(36)
A Global Mindset
6(2)
Tolerance, Knowledge, and Skills
6(1)
Maintaining a Global Mindset
7(1)
The Global Business Environment
8(4)
National Business Environments
8(1)
International Business Environment
9(2)
International Business Management
11(1)
Ethics and Social Responsibility
11(1)
Global Manager: The Keys to Success
12(2)
Globalization
14(3)
Globalization of Markets
14(2)
Globalization of Production
16(1)
Forces Driving Globalization
17(2)
Falling Barriers to Trade and Investment
17(1)
Technological Innovation
17(2)
The Backlash Against Globalization
19(2)
Key Players in International Business
21(1)
Multinational Corporations
21(1)
World Business Survey: The Global Market for Culture
22(2)
Entrepreneurs and Small Businesses
24(1)
A Final Word
24(1)
Entrepreneurial Focus: Untapped Potential: Four Myths That Keep Small Businesses from Export Success
25(13)
Summary
26(1)
Questions for Review
27(1)
Questions for Discussion
27(1)
In Practice
27(1)
Projects
28(1)
Business Case 1: MTV: Going Global with a Local Beat
28(1)
A Question of Ethics
29(1)
Appendix: World Atlas
29(9)
PART TWO NATIONAL BUSINESS ENVIRONMENTS38(98)
Culture in Business
38(36)
What Is Culture?
40(3)
National Culture and Subcultures
41(2)
Components of Culture
43(1)
Aesthetics
43(1)
Entrepreneurial Focus: Give Your Web Site a Local Feel
44(1)
Values and Attitudes
44(1)
World Business Survey: Generation Gap
45(4)
Manners and Customs
49(1)
Global Manager: A Globetrotter's Guide to Manners
49(16)
Social Structure
50(2)
Religion
52(6)
Personal Communication
58(3)
Education
61(2)
Physical and Material Environments
63(2)
Classifying Cultures
65(4)
Kluckhohn--Strodtbeck Framework
65(1)
Hofstede Framework
66(3)
A Final Word
69(5)
Summary
70(1)
Questions for Review
71(1)
Questions for Discussion
71(1)
In Practice
72(1)
Projects
72(1)
Business Case 2: Asian Values Under Fire
72(1)
A Question of Ethics
73(1)
Politics and Law in Business
74(34)
Political Systems
76(9)
Politics and Culture
76(1)
Political Participation
77(1)
Political Ideologies
77(7)
Political Systems in Times of Change
84(1)
Political Risk
85(1)
World Business Survey: Doubting Democrats
85(4)
Types of Political Risk
85(4)
Global Manager: Your Global Security Checklist
89(4)
Managing Political Risk
90(3)
Legal Systems
93(2)
Types of Legal Systems
94(1)
Global Legal Issues
95(5)
Standardization
95(1)
Intellectual Property
95(4)
Product Safety and Liability
99(1)
Taxation
99(1)
Antitrust Regulations
100(1)
Entrepreneurial Focus: The Long Arm of the Law
100(1)
Business and International Relations
101(2)
The United Nations
101(2)
A Final Word
103(5)
Summary
104(1)
Questions for Review
105(1)
Questions for Discussion
105(1)
In Practice
106(1)
Projects
106(1)
Business Case 3: Intellectual Property Rights in Asia
107(1)
A Question of Ethics
107(1)
Economic Systems and Development
108(28)
Economic Systems
110(3)
Centrally Planned Economy
110(3)
Global Manager: Guidelines for Good Guanxi
113(6)
Mixed Economy
114(2)
Market Economy
116(3)
Development of Nations
119(7)
National Production
120(2)
Purchasing Power Parity
122(2)
Human Development
124(1)
Classifying Countries
124(2)
Economic Transition
126(1)
Obstacles to Transition
126(1)
World Business Survey: Young Voices
127(3)
Focus on Russia
129(1)
A Final Word
130(6)
Summary
131(1)
Questions for Review
132(1)
Questions for Discussion
132(1)
In Practice
133(1)
Projects
133(1)
Business Case 4: Business Administration, Havana Style
134(1)
A Question of Ethics
135(1)
PART THREE INTERNATIONAL TRADE AND INVESTMENT136(112)
International Trade
136(28)
Overview of International Trade
138(4)
Benefits of International Trade
139(1)
Volume of International Trade
140(1)
International Trade Patterns
140(2)
World Business Survey: Who Owns the High Seas?
142(2)
Trade Dependence and Independence
143(1)
Global Manager: Building Good Relations in the Pacific Rim
144(1)
Theories of International Trade
145(10)
Mercantilism
145(2)
Absolute Advantage
147(2)
Comparative Advantage
149(2)
Factor Proportions Theory
151(1)
International Product Life Cycle
152(2)
New Trade Theory
154(1)
Entrepreneurial Focus: Five Common Fulfillment Mistakes
155(4)
National Competitive Advantage
156(3)
A Final Word
159(5)
Summary
159(2)
Questions for Review
161(1)
Questions for Discussion
161(1)
In Practice
161(1)
Projects
162(1)
Business Case 5: DHL Worldwide Express: First in Asia and the World
162(1)
A Question of Ethics
163(1)
Business--Government Trade Relations
164(28)
Why Do Governments Intervene in Trade?
166(5)
Political Motives
166(3)
Economic Motives
169(1)
Cultural Motives
170(1)
Methods of Promoting Trade
171(2)
Subsidies
171(1)
Export Financing
172(1)
Entrepreneurial Focus: Ex-Im Bank: Experts in Export Financing
173(3)
Foreign Trade Zones
174(1)
Special Government Agencies
175(1)
Global Manager: Surfing the Regulatory Seas
176(1)
Methods of Restricting Trade
176(5)
Tariffs
177(1)
Quotas
178(2)
Embargoes
180(1)
Local Content Requirements
180(1)
Administrative Delays
180(1)
Currency Controls
181(1)
Global Trading System
181(4)
General Agreement on Tariffs and Trade (GATT)
181(2)
World Trade Organization (WTO)
183(2)
World Business Survey: Striking Back
185(1)
A Final Word
186(6)
Summary
186(2)
Questions for Review
188(1)
Questions for Discussion
188(1)
In Practice
189(1)
Projects
189(1)
Business Case 6: Unfair Protection or Valid Defense?
190(1)
A Question of Ethics
191(1)
Foreign Direct Investment
192(26)
Patterns of Foreign Direct Investment
194(3)
Growth of Foreign Direct Investment
194(3)
Worldwide Flows of FDI
197(1)
Entrepreneurial Focus: Cowboy Candy Rides into Manchuria
197(1)
Explanations for Foreign Direct Investments
198(2)
International Product Life Cycle
198(1)
Market Imperfections (Internalization)
199(1)
Eclectic Theory
199(1)
Market Power
200(1)
Management Issues in the FDI Decision
200(3)
Control
200(1)
Purchase-or-Build Decision
201(1)
Production Costs
202(1)
Global Manager: Investing Abroad? Be Prepared for Surprises
203(2)
Customer Knowledge
204(1)
Following Clients
204(1)
Following Rivals
205(1)
Government Intervention in Foreign Direct Investment
205(2)
Balance of Payments
206(1)
World Business Survey: Ups and Downs of Current Accounts
207(3)
Reasons for Intervention by the Host Country
208(1)
Reasons for Intervention by the Home Country
209(1)
Government Policy Instruments and FDI
210(2)
Host Countries: Restriction
210(1)
Host Countries: Promotion
211(1)
Home Countries: Restriction
211(1)
Home Countries: Promotion
211(1)
A Final Word
212(6)
Summary
212(2)
Questions for Review
214(1)
Questions for Discussion
214(1)
In Practice
215(1)
Projects
215(1)
Business Case 7: Mercedes-Benz: Footloose in Tuscaloosa
216(1)
A Question of Ethics
217(1)
Regional Economic Integration
218(30)
What Is Regional Economic Integration?
220(2)
Levels of Regional Integration
220(2)
Effects of Regional Economic Integration
222(3)
Benefits of Regional Integration
222(1)
Drawbacks of Regional Integration
223(2)
Integration in Europe
225(4)
European Union
225(4)
European Free Trade Association (EFTA)
229(1)
Central European Free-Trade Area
229(1)
Integration in the Americas
229(1)
North American Free Trade Agreement (NAFTA)
229(1)
Entrepreneurial Focus: Czech List
230(7)
Andean Community
233(1)
The Latin American Integration Association (ALADI)
234(1)
Southern Common Market (MERCOSUR)
234(1)
Central America and the Caribbean
235(1)
Free Trade Area of the Americas (FTAA)
236(1)
World Business Survey: Corruption Perceptions in the FTAA
237(2)
Transatlantic Economic Partnership (TEP)
238(1)
Integration in Asia
239(1)
Association of Southeast Asian Nations (ASEAN)
239(1)
Asia Pacific Economic Cooperation (APEC)
240(1)
Global Manager: The Ins and Outs of ASEAN
240(1)
Integration in the Middle East and Africa
241(1)
Gulf Cooperation Council (GCC)
241(1)
Economic Community of West African States (ECOWAS)
241(1)
A Final Word
242(6)
Summary
242(3)
Questions for Review
245(1)
Questions for Discussion
245(1)
In Practice
246(1)
Projects
246(1)
Business Case 8: Tainted Trade: Increasing Imports Brings Increase in Illness
246(1)
A Question of Ethics
247(1)
PART FOUR THE INTERNATIONAL FINANCIAL SYSTEM248(62)
International Financial Markets
248(30)
International Capital Market
250(3)
Purposes of National Capital Markets
250(2)
Purposes of the International Capital Market
252(1)
Entrepreneurial Focus: Where Microcredit Is Due
253(2)
Forces Expanding the International Capital Market
253(1)
World Financial Centers
254(1)
Main Components of the International Capital Market
255(3)
International Bond Market
255(1)
International Equity Market
256(1)
Eurocurrency Market
257(1)
World Business Survey: Ranking the Top Investment Banks
258(1)
Foreign Exchange Market
259(2)
Functions of the Foreign Exchange Market
259(2)
How the Foreign Exchange Market Works
261(7)
Quoting Currencies
261(4)
Spot Rates
265(1)
Forward Rates
265(2)
Swaps, Options, and Futures
267(1)
Foreign Exchange Market Today
268(3)
Trading Centers
268(1)
Important Currencies
268(1)
Institutions of the Foreign Exchange Market
269(2)
Global Manager: Five Strategies for More Effective Foreign Exchange Management
271(1)
Currency Convertibility
271(1)
Goals of Currency Restriction
271(1)
Policies for Restricting Currencies
271(1)
A Final Word
272(6)
Summary
272(2)
Questions for Review
274(1)
Questions for Discussion
274(1)
In Practice
274(1)
Projects
275(1)
Business Case 9: Argentina Stares into the Abyss
275(1)
A Question of Ethics
276(2)
International Monetary System
278(32)
How Exchange Rates Influence Business Activities
280(2)
Global Manager: Exporting Against the Odds: Key Strategies for Success
282(1)
Desire for Stability and Predictability
282(1)
What Factors Determine Exchange Rates?
283(8)
Law of One Price
283(1)
Purchasing Power Parity
284(7)
Forecasting Exchange Rates
291(1)
Efficient Market View
291(1)
Inefficient Market View
291(1)
Forecasting Techniques
292(1)
Difficulties of Forecasting
292(1)
Evolution of the International Monetary System
292(6)
Early Years: The Gold Standard
293(2)
Bretton Woods Agreement
295(2)
A Managed Float System Emerges
297(1)
Today's Exchange-Rate Arrangements
298(1)
European Monetary System
298(2)
World Business Survey: Euro Attitudes
300(4)
Recent Financial Crises
300(3)
Future of the International Monetary System
303(1)
A Final Word
304(6)
Summary
304(2)
Questions for Review
306(1)
Questions for Discussion
306(1)
In Practice
307(1)
Projects
307(1)
Business Case 10: Banking on Forgiveness
308(1)
A Question of Ethics
309(1)
PART FIVE INTERNATIONAL BUSINESS MANAGEMENT310(163)
Planning and Organizing International Operations
310(28)
International Planning and Strategy
312(4)
Strategy Formulation
312(1)
Identify Company Mission and Goals
312(2)
Identify Core Competency and Value-Creating Activities
314(2)
Entrepreneurial Focus: Know Yourself, Know Your Product
316(2)
Formulate Strategies
317(1)
World Business Survey: Invest and Prosper
318(7)
Global Manager: Competing with Giants
325(1)
International Organizational Structure
326(7)
Centralization versus Decentralization
326(1)
Coordination and Flexibility
327(1)
Types of Organizational Structure
328(3)
Work Teams
331(2)
A Final Word
333(5)
Summary
333(1)
Questions for Review
334(1)
Questions for Discussion
335(1)
In Practice
335(1)
Projects
335(1)
Business Case 11: The IKEA Key to Pricing
336(1)
A Question of Ethics
337(1)
Analyzing International Opportunities
338(30)
Screening Potential Markets and Sites
340(3)
Step 1: Identify Basic Appeal
341(1)
Step 2: Assess the National Business Environment
342(1)
World Business Survey: Global Business Climates
343(6)
Step 3: Measure Market or Site Potential
348(1)
Global Manager: Global E-Commerce Issues
349(5)
Step 4: Select the Market or Site
353(1)
Conducting International Research
354(7)
Difficulties of Conducting International Research
355(1)
Sources of Secondary International Data
356(4)
Methods of Conducting Primary International Research
360(1)
Entrepreneurial Focus: Is the World Your Oyster?
361(1)
A Final Word
362(6)
Summary
363(1)
Questions for Review
364(1)
Questions for Discussion
365(1)
In Practice
365(1)
Projects
365(1)
Business Case 12: Researching Vietnam's Potential
366(1)
A Question of Ethics
367(1)
Selecting and Managing Entry Modes
368(32)
Exporting, Importing, and Countertrade
370(1)
World Business Survey: Land of Opportunity
370(10)
Why Companies Export
371(1)
Developing an Export Strategy: A Four-Step Model
371(1)
Degree of Export Involvement
372(2)
Avoiding Export and Import Blunders
374(1)
Countertrade
375(1)
Export/Import Financing
376(4)
Entrepreneurial Focus: Global Collection Guidelines
380(1)
Contractual Entry Modes
380(6)
Licensing
380(2)
Franchising
382(2)
Management Contracts
384(1)
Turnkey Projects
385(1)
Investment Entry Modes
386(6)
Wholly Owned Subsidiaries
386(1)
Joint Ventures
387(3)
Strategic Alliances
390(1)
Selecting Partners for Cooperation
391(1)
Global Manager: Negotiating the Terms of Market Entry
392(1)
Strategic Factors in Selecting an Entry Mode
393(2)
Cultural Environment
393(1)
Political and Legal Environments
393(1)
Market Size
393(1)
Production and Shipping Costs
393(1)
International Experience
394(1)
A Final Word
395(5)
Summary
395(1)
Questions for Review
396(1)
Questions for Discussion
397(1)
In Practice
397(1)
Projects
398(1)
Business Case 13: The Brave New World of Telecommunication Joint Ventures
398(1)
A Question of Ethics
399(1)
Developing and Marketing Products
400(26)
Globalization and Marketing
402(2)
Standardization Versus Adaptation
402(2)
Developing Product Strategies
404(4)
Laws and Regulations
404(1)
Cultural Differences
404(1)
Brand and Product Names
404(2)
National Image
406(1)
Counterfeit Goods and Black Markets
407(1)
Shortened Product Life Cycles
408(1)
Creating Promotional Strategies
408(1)
Push and Pull Strategies
408(1)
Global Manager: Managing an International Sales Force
408(4)
International Advertising
410(2)
World Business Survey: Web Ads Grab Attention
412(4)
Blending Product and Promotional Strategies
412(4)
Designing Distribution Strategies
416(2)
Designing Distribution Channels
416(1)
Influence of Product Characteristics
417(1)
Special Distribution Problems
417(1)
Developing Pricing Strategies
418(2)
Worldwide Pricing
418(1)
Dual Pricing
419(1)
Factors That Affect Pricing Decisions
419(1)
A Final Word
420(6)
Summary
421(1)
Questions for Review
422(1)
Questions for Discussion
423(1)
In Practice
423(1)
Projects
424(1)
Business Case 14: Fair Game or Out-of-Bounds?
424(1)
A Question of Ethics
425(1)
Launching and Managing Production
426(24)
Production Strategy
428(1)
Capacity Planning
428(1)
Facilities Location Planning
429(1)
World Business Survey: The Gap in Minimum Wages
429(4)
Process Planning
432(1)
Facilities Layout Planning
432(1)
Aquiring Physical Resources
433(4)
Make-or-Buy Decision
433(3)
Raw Materials
436(1)
Fixed Assets
436(1)
Key Production Concerns
437(1)
Quality-Improvement Efforts
437(1)
Shipping and Inventory Costs
438(1)
Global Manager: Linking TQM and ISO 9000 Standards
438(1)
Reinvestment Versus Divestment
439(1)
Financing Business Operations
439(3)
Borrowing
440(1)
Issuing Equity
440(2)
Entrepreneurial Focus: Get Global Cash: Overseas Investors Await You
442(3)
Internal Funding
443(1)
Capital Structure
444(1)
A Final Word
445(5)
Summary
445(1)
Questions for Review
446(1)
Questions for Discussion
447(1)
In Practice
447(1)
Projects
448(1)
Business Case 15: TPS: The Benchmark in Production Efficiency
448(1)
A Question of Ethics
449(1)
Hiring and Managing Employees
450(23)
International Staffing Policy
453(2)
Ethnocentric Staffing
453(1)
Polycentric Staffing
454(1)
Entrepreneurial Focus: Growing Global
455(1)
Geocentric Staffing
456(1)
Recruiting and Selecting Human Resources
456(4)
Human Resource Planning
456(1)
Recruiting Human Resources
457(1)
Selecting Human Resources
458(1)
Culture Shock
459(1)
Reverse Culture Shock
459(1)
Global Manager: A Shocking Ordeal
460(1)
Training and Development
461(2)
Methods of Cultural Training
461(1)
Compiling a Cultural Profile
462(1)
Nonmanagerial Worker Training
463(1)
Employee Compensation
463(2)
Managerial Employees
463(1)
Nonmanagerial Workers
464(1)
Labor--Management Relations
465(1)
World Business Survey: Long Time, No Work
466(2)
Importance of Labor Unions
466(2)
A Final Word
468(5)
Summary
468(1)
Questions for Review
469(1)
Questions for Discussion
469(1)
In Practice
470(1)
Projects
470(1)
Business Case 16: Expatriation or Discrimination?
470(1)
A Question of Ethics
471(2)
AcrossFrontiers Video Cases473(21)
Notes, Sources, and Credits494(11)
Glossary505(6)
Name/Company Index511(6)
Subject Index517

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