Includes index

Machine generated contents note: pt. 1 Foundation Concepts --
ch. 1 What Is International Business? --
What Is International Business? --
What Are the Key Concepts in International Trade and Investment? --
The Nature of International Trade --
The Nature of International Investment --
Services as Well as Products --
How Does International Business Differ from Domestic Business? --
The Four Risks in Internationalization --
Who Participates in International Business? --
Nongovernmental Organizations (NGOs) --
What Motivates Firms to Go International? --
Market Globalization: An Organizing Framework --
Drivers of Market Globalization --
Societal Consequences of Market Globalization --
Loss of National Sovereignty --
Offshoring and the Flight of Jobs --
Effect on the Poor --
Effect on the Natural Environment --
Effect on National Culture --
Regional Integration and Economic Blocs --
Levels of Regional Integration --
The Leading Economic Blocs Note continued: Management Implications of Regional Integration --
Summary --
Key Terms --
Endnotes --
ch. 2 Theories of International Trade and Investment --
What Theories Explain International Trade and Investment? --
Why Do Nations Trade? --
Mercantilism --
Absolute Advantage Principle --
Comparative Advantage Principle --
Limitations of Early Trade Theories --
Factor Proportions Theory --
International Product Life Cycle Theory --
How Can Nations Enhance Their Competitive Advantage? --
The Competitive Advantage of Nations --
The Diamond Model --
National Industrial Policy --
Why and How Do Firms Internationalize? --
Internationalization Process of the Firm --
Born Globals and International Entrepreneurship --
How Can Internationalizing Firms Gain and Sustain Competitive Advantage? --
FDI-Based Explanations --
Monopolistic Advantage Theory --
Internalization Theory --
Dunning's Eclectic Paradigm --
Non-FDI-Based Explanations --
International Collaborative Ventures Note continued: Networks and Relational Assets --
Summary --
Key Terms --
Endnotes --
ch. 3 Organizational Participants That Make International Business Happen --
Four Types of Participants in International Business --
Participants Arranged by Value-Chain Activity --
Illustrating the International Value Chain Using Dell Inc. --
Focal Firms in International Business --
The Multinational Enterprise --
Small and Medium-Sized Enterprises --
Born Global Firms --
International Entry Strategies of Focal Firms --
A Framework for Classifying International Entry Strategies --
Entry Modes Other than Trade and Investment --
Distribution Channel Intermediaries in International Business --
Intermediaries Based in the Foreign Market --
Intermediaries Based in the Home Country --
Online Intermediaries --
Facilitators in International Business --
Governments in International Business --
Summary --
Key Terms --
Endnotes --
ch. 4 Culture and Ethics in International Business Note continued: Culture and Cross-Cultural Risk --
Key Concepts of Culture --
Socialization and Acculturation --
The Many Dimensions of Culture --
National, Professional, and Corporate Culture --
Cultural Metaphors and Idioms --
The Role of Culture in International Business --
Interpretations of Culture --
Low- and High-Context Cultures --
Hofstede's Research on National Culture --
Individualism versus Collectivism --
Power Distance --
Uncertainty Avoidance --
Masculinity versus Femininity --
The Fifth Dimension: Long-Term versus Short-Term Orientation --
Subjective versus Objective Dimensions of Culture --
The Subjective Dimension --
Objective Dimension --
Language --
Overcoming Cross-Cultural Risk: Managerial Guidelines --
Ethics in International Business --
The Value of Ethical Behavior --
Variation in Ethical Standards among Countries --
An Ethical Dilemma --
Linking Ethics, Corruption, and Responsible Behavior --
Corporate Social Responsibility Note continued: The Value of CSR --
The Role of Sustainability in International Operations --
Corporate Governance and Its Implications for Managers --
A Framework for Making Ethical Decisions --
Embracing CSR and Sustainability --
Summary --
Key Terms --
Endnotes --
pt. 2 The International Business Environment --
ch. 5 Political and Legal Systems in International Business --
The Nature of Country Risk --
How Prevalent Is Country Risk? --
Political and Legal Environments in International Business --
Political Systems --
Totalitarianism --
Socialism --
Democracy --
Democracy's Link to Economic Freedom and Openness --
The Relationship between Political Systems and Economic Systems --
Command Economy --
Mixed Economy --
Market Economy --
Legal Systems --
Common Law --
Civil Law --
Religious Law --
Mixed Systems --
Types of Country Risk Produced by Political and Legal Systems --
Types of Country Risk Produced by Political Systems --
Government Takeover of Corporate Assets Note continued: Embargoes and Sanctions --
Boycotts against Firms or Nations --
War, Insurrection, and Violence --
Terrorism --
Types of Country Risk Produced by Legal Systems --
Country Risk Arising from the Host Country Legal Environment --
Country Risk Arising from the Home Country Legal Environment --
Managing Country Risk --
Proactive Environmental Scanning --
Strict Adherence to Ethical Standards --
Alliances with Qualified Local Partners --
Protection through Legal Contracts --
The Nature of Government Intervention --
Rationale for Government Intervention --
Defensive Rationale --
Offensive Rationale --
Instruments of Government Intervention --
Tariffs --
Nontariff Trade Barriers --
Investment Barriers --
Subsidies and Other Government Support Programs --
Consequences of Government Intervention --
How Firms Can Respond to Government Intervention --
Strategies for Managers --
Research to Gather Knowledge and Intelligence Note continued: Choose the Most Appropriate Entry Strategies --
Take Advantage of Foreign Trade Zones --
Seek Favorable Customs Classifications for Exported Products --
Take Advantage of Investment Incentives and Other Government Support Programs --
Lobby for Freer Trade and Investment --
Summary --
Key Terms --
Endnotes --
ch. 6 The International Monetary Environment and Financial Management in the Global Firm --
Exchange Rates and Currencies --
How Exchange Rates are Determined --
The Contemporary Exchange Rate System --
The Monetary and Financial Systems --
Financial Management in the Global Firm --
Raising Funds for the Firm's International Activities --
Managing Cash Flow --
Capital Budgeting --
Managing Currency Risk --
Foreign Exchange Trading --
Hedging, Speculation, and Arbitrage --
Hedging Instruments --
Managing Accounting and Tax Practices --
International Taxation --
Summary --
Key Terms --
Endnotes Note continued: ch. 7 Emerging Markets, Developing Economies, and Advanced Economies --
Advanced Economies, Developing Economies, and Emerging Markets --
Advanced Economies --
Developing Economies --
Emerging Market Economies --
What Makes Emerging Markets Attractive for International Business --
Emerging Markets as Target Markets --
Emerging Markets as Manufacturing Bases --
Emerging Markets as Sourcing Destinations --
Assessing the True Potential of Emerging Markets --
Per-Capita Income as an Indicator of Market Potential --
Middle Class as an Indicator of Market Potential --
Risks and Challenges of Emerging Markets --
Strategies for Doing Business in Emerging Markets --
Customize Offerings to Unique Emerging Market Needs --
Partner with Family Conglomerates --
Target Governments in Emerging Markets --
Summary --
Key Terms --
Endnotes --
pt. 3 International Business Strategy and Implementation --
ch. 8 Strategy and Organization in the International Firm Note continued: Strategy in International Business --
Efficiency --
Flexibility --
Learning --
Building the Global Firm --
Visionary Leadership --
Organizational Culture --
Organizational Processes --
The Distinction between Multidomestic and Global Industries --
The Integration-Responsiveness Framework --
Pressures for Global Integration --
Pressures for Local Responsiveness --
Strategies Based on the Integration-Responsiveness Framework --
Home Replication Strategy --
Multidomestic Strategy --
Global Strategy --
Transnational Strategy --
Organizational Structure --
Centralized or Decentralized Structure? --
Organizational Structures for International Operations --
Export Department --
International Division Structure --
Geographic Area Structure (Decentralized Structure) --
Product Structure (Centralized Structure) --
Functional Structure (Centralized Structure) --
Global Matrix Structure --
Summary --
Key Terms --
Endnotes Note continued: ch. 9 Global Market Opportunity Assessment --
Assessing Global Market Opportunities --
Task One: Analyzing Organizational Readiness to Internationalize --
Task Two: Assessing the Suitability of Products and Services for Foreign Markets --
Factors Contributing to Product Suitability for International Markets --
Key Issues to Resolve in Measuring Product Potential --
Task Three: Screening Countries to Identify Target Markets --
Screening Countries for Exporting --
Screening Methodology for Potential Country Markets --
Assessing the Export Potential of Emerging Markets --
Country Screening for Foreign Direct Investment --
Country Screening for Sourcing --
Task Four: Assessing Industry Market Potential --
Practical Methods for Managers to Assess Industry Market Potential --
Data Sources for Estimating Industry Market Potential --
Task Five: Choosing Foreign Business Partners --
Criteria for Choosing a Partner --
Searching for Prospective Partners Note continued: Task Six: Estimating Company Sales Potential --
Determinants of Company Sales Potential --
Practical Approaches to Estimating Company Sales Potential --
Other Techniques --
Assessing the Market --
In Conclusion --
Summary --
Key Terms --
Endnotes --
ch. 10 Exporting and Countertrade --
An Overview of Foreign Market Entry Strategies --
Internationalization of the Firm --
Diverse Motives for Pursuing Internationalization --
Characteristics of Firm Internationalization --
Exporting as a Foreign Market Entry Strategy --
Exporting and the Global Economy --
Exporting: A Popular Entry Strategy --
Services Sector Exports --
Advantages of Exporting --
Limitations of Exporting --
A Systematic Approach to Exporting --
Step One: Assess Global Market Opportunity --
Step Two: Organize for Exporting --
Step Three: Acquire Needed Skills and Competencies --
Step Four: Export Management --
Importing --
Managing Export-Import Transactions --
Documentation Note continued: Shipping and Incoterms --
Payment Methods in Exporting and Importing --
Cash in Advance --
Letter of Credit --
Open Account --
Export-Import Financing --
Commercial Banks --
Factoring, Forfaiting, and Confirming --
Distribution Channel Intermediaries --
Buyers and Suppliers --
Intracorporate Financing --
Government Assistance Programs --
Multilateral Development Banks --
Identifying and Working with Foreign Intermediaries --
Working with Foreign Intermediaries --
When Intermediary Relations Go Bad --
Countertrade: A Popular Approach for Emerging Markets and Developing Economies --
Magnitude and Drivers of Countertrade --
Types of Countertrade --
Risks of Countertrade --
Why Consider Countertrade? --
Summary --
Key Terms --
Endnotes --
ch. 11 Foreign Direct Investment and Collaborative Ventures --
International Investment and Collaboration --
Trends in FDI and Collaborative Ventures --
Motives for FDI and Collaborative Ventures --
Market-Seeking Motives Note continued: Resource or Asset-Seeking Motives --
Efficiency-Seeking Motives --
Characteristics of Foreign Direct Investment --
Key Features of Foreign Direct Investment --
Corporate Social Responsibility and FDI --
Most Active Firms in FDI --
Service Firms and FDI --
Leading Destinations for FDI --
Factors to Consider in Choosing FDI Locations --
Types of Foreign Direct Investment --
Greenfield Investment versus Mergers and Acquisitions --
The Nature of Ownership in FDI --
Vertical versus Horizontal Integration --
International Collaborative Ventures --
Equity Joint Ventures --
Project-Based Nonequity Ventures --
Differences between Equity and Project-Based Nonequity Ventures --
Consortium --
Cross-Licensing Agreements --
Managing Collaborative Ventures --
Understand Potential Risks in Collaboration --
Pursue a Systematic Process for Partnering --
Ensure Success with Collaborative Ventures --
The Experience of Retailers in Foreign Markets Note continued: Challenges of International Retailing --
International Retailing Success Factors --
Summary --
Key Terms --
Endnotes --
ch. 12 Licensing, Franchising, and Other Contractual Strategies --
Contractual Entry Strategies --
Unique Aspects of Contractual Relationships --
Types of Intellectual Property --
Licensing as an Entry Strategy --
Trademark and Copyright Licensing --
Know-How Licensing --
The World's Top Licensing Firms --
Advantages and Disadvantages of Licensing --
Advantages of Licensing --
Disadvantages of Licensing --
Franchising as an Entry Strategy --
Who Are the Top Global Franchisors? --
Advantages and Disadvantages of Franchising --
The Franchisor Perspective --
The Franchisee Perspective --
Managerial Guidelines for Licensing and Franchising --
Other Contractual Entry Strategies --
Turnkey Contracting --
Build-Operate-Transfer Arrangements (BOT) --
Management Contracts --
Leasing Note continued: The Special Case of Internationalization by Professional Service Firms --
Guidelines for Protecting Intellectual Property --
Summary --
Key Terms --
Endnotes --
ch. 13 Global Sourcing --
Outsourcing, Global Sourcing, and Offshoring --
Decision 1: Outsource or Not? --
Decision 2: Where in the World Should Value-Adding Activities Be Located? --
Global Sourcing --
Offshoring --
Scope of Global Sourcing --
Diversity of Countries that Initiate and Receive Outsourced Work --
Strategic Choices in Global Sourcing --
Benefits of Global Sourcing --
Cost Efficiency --
Ability to Achieve Strategic Goals --
Risks of Global Sourcing --
Strategies for Minimizing the Risks of Global Sourcing --
Implementing Global Sourcing through Supply-Chain Management --
Information and Communications Technology --
Logistics and Transportation --
Transportation Modes --
Global Sourcing and Corporate Social Responsibility Note continued: Potential Harm to Local and National Economy from Global Sourcing --
Public Policy on Global Sourcing --
Summary --
Key Terms --
Endnotes --
ch. 14 Marketing in the Global Firm --
Global Marketing Strategy --
Targeting Customer Segments and Positioning --
Standardization and Adaptation of International Marketing --
Standardization --
Adaptation --
Standardization and Adaptation: A Balancing Act --
Global Branding and Product Development --
Global Branding --
Global Product Development --
International Pricing --
Factors That Affect International Pricing --
A Framework for Setting International Prices --
Managing International Price Escalation --
Managing Pricing under Varying Currency Conditions --
Transfer Pricing --
Gray Market Activity (Parallel Imports) --
International Marketing Communications --
International Advertising --
International Promotional Activities --
International Distribution --
Global Account Management --
Summary --
Key Terms Note continued: Endnotes --
ch. 15 Human Resource Management in the Global Firm --
The Strategic Role of Human Resources in International Business --
Three Employee Categories --
Differences between Domestic and International HRM --
Key Tasks in International Human Resource Management --
International Staffing Policy --
Cultivating Global Mindsets --
Cultural Intelligence --
Expatriate Assignment Failure and Culture Shock --
Preparation and Training of International Employees --
Preparing Employees for Repatriation --
Charting Global Careers for Employees --
International Performance Appraisal --
Compensating Employees --
International Labor Relations --
Distinctive Features of Labor around the World --
Cost, Quality, and Productivity of Labor --
Workforce Reduction --
Trends in International Labor --
Firm Strategy in International Labor Relations --
Diversity in the International Workforce --
Success Strategies for Women Managers in International Business --
Summary Note continued: Key Terms --
Endnotes.