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Basics of International Business
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Comments/Reviews
Description: The field of international business is dynamic, complex, and challenging, vulnerable to fast-breaking events such as economic shifts, political turmoil, and natural disasters. This concise and affordable textbook will help future international business executives acquire the skills to function effectively under these challenging conditions.
Basics of International Business incorporates coverage of the ongoing turmoil in the world financial markets. It's designed to familiarize students with the external environments that affect international businesses, to show them how to recognize the processes in identifying potential foreign markets, and to help them understand the functional strategies that can be developed to succeed in this highly competitive environment.
The text focuses on "must-know" core concepts in international business. The concepts, theories, and techniques are organized around seven major topical areas: introduction and overview of international business; environmental variables of culture, politics, and economics; entry strategies for new markets and countries; international trade and foreign direct investments; integration of functional areas; specific functioning areas (marketing, finance, accounting, etc.); global outsourcing and its role in international operations. The text is filled with helpful charts, chapter summaries, exercises, and applied cases. A detailed instructor's manual including course outlines, classroom exercises, and a complete test bank is available online to adopters.
Selected Contents:
Preface and Acknowledgments
1. Introduction and Overview
Learning Objectives
Reasons for Growth in International Business
Types of International Operations
International Business Research and Need for Information
Ethical Considerations in International Business
Stakeholder Theory and Corporate Social Responsibility
Corruption
Chapter Summary
2. International Business Environment: Culture
Learning Objectives
Cultural Environment
Framework of Cultural Classification
Cultural Generalization
Cultural Convergence
Culture Shock
Cultural Orientation
Chapter Summary
Additional Readings
Application Case: Business Negotiations and Cultural Pitfalls--Mexico
3. Economic and Other Related Environmental Variables
Learning Objectives
The Economy
Economic Development and International Business
Economic Factors and International Business Strategy
Economic Factors and Country Risk Analysis
Chapter Summary
Application Case: China's Economy and FDI Flows
4. The Political and Legal Environment
Learning Objectives
The Political Environment
The Legal Environment
Chapter Summary
Application Case: Adapting Finance to Islam
5. International Trade and Foreign Direct Investments
International Trade
Mercantilism
Theory of Absolute Advantage
Theory of Comparative Advantage
Heckscher-Ohlin Factor Proportions Explanation for International Trade
The Product Life Cycle Theory
Global Patterns of Trade: Statistics
World Trade Organization
International Trade in the Future
Foreign Direct Investment
Chapter Summary
Application Case: Siemens in Argentine
6. Entry Strategies
Learning Objectives
Export/Import Strategy
Direct Investments
Comparison of Various Modes of Entry Strategies
Chapter Summary
Key Concepts
Discussion Questions
Application Case: General Electric
7. Functional Integration
Learning Objectives
Production and Operations Management
Finance
Marketing
Human Resources
Accounting
Management Information Systems
Research and Development
Chapter Summary
Application Case: BMW in India
8. International Production & Operations Management and Supply-Chain Management
Learning Objectives
Operations Management in Manufacturing vs. Services
Internationalization of Production & Operations Management
Decisions in Production & Operations Management
Operations Management Strategies and Supply-Chain Management
Chapter Summary
Application Case: Toyota and Lean Manufacturing
9. Global Outsourcing or Offshoring
Learning Objectives
Outsourcing, Offshoring, Inshoring, and Near-shoring
Offshoring of Services: Internet Technology vs. Business Process Offshoring
Future of Offshoring Services
Toward a Global Offshoring Strategy
Chapter Summary
Application Case: Evalueserve and Knowledge Process Outsourcing
10. The Foreign Exchange Market
Learning Objectives
Definition of Foreign Exchange
Appreciation and Depreciation of Currencies
Major Currencies of the World
The Euro
History of Foreign Exchange
Size of the Foreign Exchange Market
Determination of Foreign Exchange Rates
Participants in the Foreign Exchange Markets
Exchange Rate Regimes
Multinationals and Foreign Exchange
Chapter Summary
Application Case: Dollarization and the Case of Ecuador and El Salvador
11. International Marketing
Learning Objectives
Final and Industrial Consumers
Goods vs. Services
Marketing Activities
Basics Steps in International Marketing
Developing an International Marketing Strategy
Chapter Summary
Application Case: Natura--A Brazilian Success Story
12. International Human Resource Management and Organizational Structures
Learning Objectives
Managing the Human Resources Function
Organizational Structures
Chapter Summary
Application Case: Chiba International
13. International Financial Management
Learning Objectives
International Expansion
International Banks
International Transactions
International Shipping
International Insurance
Stock Exchanges and Markets
Regulatory Agencies
The Foreign Corrupt Trade Practices Act of 1977
Chapter Summary
Application Case: Iceland 2008--Concern for Exporters and Importers
14. International Accounting
Learning Objectives
Basics of International Accounting
History of Accounting
Toward a Global Accounting System
International Accounting and Taxes
Chapter Summary
Application Case: The Fannie Mae Accounting Scandal
Appendix 14.1. Global Corporate and Indirect Taxes, 2007
Appendix 14.2. Summary of Some Similarities and Differences between IFRS and U.S. GAAP
Appendix 1. Regional Economic Integrations
Benefits of Integration
Activities and Operations of NAFTA and the European Union
Appendix 2. Worldwide Organizations and International Agencies
The International Monetary Fund
The Organization for Economic Cooperation and Development
The United Nations
The World Bank
Appendix 3. The Internet in International Business
The Internet and Business
The Internet and International Business
Appendix 3 Summary
Notes
Glossary
Name index
Subject index
About the Authors
Comment(s): "Compared with other international business texts, this book is distinctive in three important ways. First, it offers a rare but highly desirable balance between content coverage and book length. The authors did a super job in covering the most relevant issues international business students, while successfully controlling the text length (and limiting the final cost to users). Second, the materials in each chapter are informative, current, and systematically organized. They, along with the discussion questions, additional readings, and application cases, allow students to develop a deep understanding of the most important international business issues, terms, and theories. Third, the applied approach in which the materials are presented enables students to integrate their knowledge into practice when such opportunities arise. I highly recommend this book to instructors, students, and managers of international business." -- Tao (Tony) Gao, Northeastern University
" Basics of International Business is a comprehensive and informative introductory IB text. It thoroughly explains all basic concepts relating to international business with current examples and exceptional clarity." -- Jing Hu, California Polytechnic State University, Pomona
    
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