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International Business

by: Wild, John J.; Wild, Kenneth L.; Han, Jerry C.Y.

International Business

by: Wild, John J.; Wild, Kenneth L.; Han, Jerry C.Y.

ISBN 13:
9780130353115
ISBN 10:
0130353116
Edition: 2nd
Format: Paperback
Copyright: 01/01/2003
Publisher: PRENTICE HALL
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Summary

Textbook presenting a complete look at international business, with an integrated emphasis on culture. Shows how decisions are interrelated. Includes a companion Web site.

Preface

About the Authors

xxv

Special Features

xxvii

PART ONE GLOBAL BUSINESS ENVIRONMENT

(36)

International Business Today

(36)

A Global Mindset

(2)

Tolerance, Knowledge, and Skills

(1)

Maintaining a Global Mindset

(1)

The Global Business Environment

(4)

National Business Environments

(1)

International Business Environment

(2)

International Business Management

(1)

Ethics and Social Responsibility

(1)

Global Manager: The Keys to Success

(2)

Globalization

(3)

Globalization of Markets

(2)

Globalization of production

(1)

Forces Driving Globalization

(2)

Falling Barriers to Trade and Investment

(1)

Technological Innovation

(2)

The Backlash Against Globalization

(2)

Key Players in International Business

(1)

Multinational Corporations

(1)

World Business Survey: The Global Market for Culture

(2)

Entrepreneurs and Small Businesses

(1)

A Final Word

(1)

Entrepreneurial Focus: Untapped Potential: Four Myths That Keep Small Businesses from Export Success

(13)

Summary

(1)

Questions for Review

(1)

Questions for Discussion

(1)

In Practice

(1)

Projects

(1)

Business Case 1: MTV: Going Global with a Local Beat

(1)

A Question of Ethics

(1)

Appendix: World Atlas

(9)

PART TWO NATIONAL BUSINESS ENVIRONMENTS

(98)

Culture in Business

(36)

What Is Culture?

(3)

National Culture and Subcultures

(2)

Components of Culture

(1)

Aesthetics

(1)

Entrepreneurial Focus: Give Your Web Site a Local Feel

(1)

Values and Attitudes

(1)

World Business Survey: Generation Gap

(4)

Manners and Customs

(1)

Global Manager: A Globetrotters Guide to Manners

(16)

Social Structure

(2)

Religion

(6)

Personal Communication

(3)

Education

(2)

Physical and Material Environments

(2)

Classifying Cultures

(4)

Kluckhohn-Strodtbeck Framework

(1)

Hofstede Framework

(3)

A Final Word

(5)

Summary

(1)

Questions for Review

(1)

Questions for Discussion

(1)

In Practice

(1)

Projects

(1)

Business Case 2: Asian Values Under Fire

(1)

A Question of Ethics

(1)

Politics and Law in Business

(34)

Political Systems

(9)

Politics and Culture

(1)

Political Participation

(1)

Political Ideologies

(7)

Political Systems in Times of Change

(1)

Political Risk

(1)

World Business Survey: Doubting Democrats

(4)

Types of Political Risk

(4)

Global Manager: Your Global security Checklist

(4)

Managing Political Risk

(3)

Legal Systems

(2)

Types of Legal Systems

(1)

Global Legal Issues

(5)

Standardization

(1)

Intellectual Property

(4)

Product Safety and Liability

(1)

Taxation

(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 INVESTMENT

136

(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 SYSTEM

248

(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 MANAGEMENT

310

(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)

Identify Basic Appeal

341

(1)

Assess the National Business Environment

342

(1)

World Business Survey: Global Business Climates

343

(6)

Measure Market or Site Potential

348

(1)

Global Manager: Global E-commerce Issues

349

(5)

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 Cases

473

(21)

Notes, Sources, and Credits

494

(11)

Glossary

505

(6)

Name/Company Index

511

(6)

Subject Index

517

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International Business

International Business

9780130353115

0130353116

Summary

Table of Contents

Supplemental Materials

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Amazon no longer offers textbook rentals. We do!

International Business

International Business

9780130353115

0130353116

Summary

Table of Contents

Supplemental Materials

Write a Review

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