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• Front Matter
  • ABOUT THE AUTHORS
  • PREFACE
    • INTRODUCTION
    • TOPIC COVERAGE AND ORGANIZATION
    • DISTINGUISHING PEDAGOGICAL FEATURES
      • Contemporary Realism
      • Chapter Summary and Review Questions
      • Internet Exercises
      • Take a Stand
    • COMPREHENSIVE LEARNING PACKAGE
    • INSTRUCTOR COMPANION WEB SITE
      • Instructor’s Manual
      • Test Bank
      • PowerPoint Lecture Presentations
      • Student Companion web site
    • GLOBAL MARKET POTENTIAL SYSTEM ONLINE (GMPSO ©) http://www.gmpso2.com
      • Available for use with Czinkota’s International Business
        • How does GMPSO Work?
  • ACKNOWLEDGEMENTS
    • EUROPEAN EDITION AUTHORS’ ACKNOWLEDGEMENTS
• PART 1 INTERNATIONAL BUSINESS ENVIRONMENT
  • CHAPTER 1 The Nature of International Business
    • LEARNING OBJECTIVES
    • GLOBALIZATION: OPPORTUNITY OR THREAT?
    • GLOBALIZATION: MAKE YOUR CHOICE
    • A THEORETICAL VIEWPOINT
      • Unbundling Globalization
        • Individuals Not Firms, Sectors or Skill Groups
      • The Need for International Business
      • A Definition of International Business
        • GLOBALIZATION: Globalization and Consumption: African Perspective
      • A Brief History
        • Figure 1.1: Growth of world output and trade, 1998–2007.
      • Global Links Today
        • Table 1.1: The top 25 nonfinancial transnational corporations from developing economies, ranked by foreign assets (millions of dollars and number of employees).
        • Table 1.2: The global components of a Big Mac in the Ukraine.
    • EAT LOCALLY, SPEND GLOBALLY
      • POLITICS: Consumers Get Political (1)
      • POLITICS: Consumers Get Political (2)
      • The Structure of the Book
        • ETHICS: Students Against Sweatshops
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISE
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 2 Theory of Trade and Investment
    • LEARNING OBJECTIVES
    • GLOBAL OUTSOURCING: COMPARATIVE ADVANTAGE TODAY
      • Table 2.1: Examples of global outsourcing of comparative advantage in intellectual skills.
    • INTRODUCTION
    • THE AGE OF MERCANTILISM
    • CLASSICAL TRADE THEORY
      • The Theory of Absolute Advantage
        • Figure 2.1: The evolution of trade theory.
      • The Theory of Comparative Advantage
      • A Numerical Example of Classical Trade
        • Table 2.2: Absolute advantage and comparative advantagea.
      • National Production Possibilities
        • Figure 2.2: Production possibility frontiers, specialization of production and the benefits of trade.
        • ETHICS: Over- and Under-Invoicing
      • The Gains from International Trade
      • Concluding Points about Classical Trade Theory
    • FACTOR PROPORTIONS TRADE THEORY
      • Factor Intensity in Production
        • Figure 2.3: Factor proportions in production.
      • Factor Endowments, Factor Prices and Comparative Advantage
      • Assumptions of the Factor Proportions Theory
      • The Leontief Paradox
      • Linder’s Overlapping Product Ranges Theory
    • INTERNATIONAL INVESTMENT AND PRODUCT CYCLE THEORY
      • The Stages of the Product Cycle
        • POLITICS: When the Numbers Don’t Add Up
      • Trade Implications of the Product Cycle
        • Figure 2.4: Trade patterns and product cycle theory.
    • THE NEW TRADE THEORY: STRATEGIC TRADE
      • Economies of Scale and Imperfect Competition
        • Internal Economies of Scale
        • External Economies of Scale
      • Strategic Trade
        • Price
        • Cost
        • Repetition
        • Externalities
      • The Competitive Advantage of Nations
        • Figure 2.5: Determinants of national competitive advantage: Porter’s diamond.
        • Clusters and the New Economics
    • THE THEORY OF INTERNATIONAL INVESTMENT
      • The Foreign Direct Investment Decision
        • Figure 2.6: The foreign direct investment decision sequence.
      • The Theory of Foreign Direct Investment
      • Firms as Seekers
      • Firms as Exploiters of Imperfections
      • Firms as Internalizers
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 3 Culture
    • LEARNING OBJECTIVES
    • IS THERE A EUROPEAN IDENTITY?
    • INTRODUCTION
    • CULTURE DEFINED
      • POLITICS: Protecting Mozzarella
    • THE ELEMENTS OF CULTURE
      • Table 3.1: Elements of culture.
      • Language
        • Figure 3.1: Example of an advert that transferred poorly.
      • Nonverbal Language
      • Religion
      • Values and Attitudes
        • Table 3.2: Effect of value differences on management practice.
      • Manners and Customs
        • Table 3.3: When and what to give as gifts.
      • Material Elements
      • Aesthetics
      • Education
      • Social Institutions
        • Figure 3.2: Different interpretation of the ‘@’ symbol.
        • CULTURE: National Culture – Culture in Russia
    • SOURCES OF CULTURAL KNOWLEDGE
      • Table 3.4: Types of international information.
      • Table 3.5: Managers’ ranking of factors involved in acquiring international expertise.
      • Figure 3.3: An example of culture consulting.
    • CULTURAL ANALYSIS
      • Figure 3.4: A model of cross-cultural behaviour.
      • Figure 3.5: Culture dimension scores for twelve countries (0 = low; 100 = high).
      • Table 3.6: Culture-based segmentation.
    • THE TRAINING CHALLENGE
      • Figure 3.6: Cross-cultural training methods.
      • E-BUSINESS: Online Cultural Training
    • MAKING CULTURE WORK FOR BUSINESS SUCCESS
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 4 Political and Legal Environment
    • LEARNING OBJECTIVES
    • CORRUPTION, GUNS AND TERRORISM
    • INTRODUCTION
    • THE HOME-COUNTRY PERSPECTIVE
      • LAW: Ensuring Protection of US Exports in the European Union
      • LAW: European Union Product Warranty Directive
      • Embargoes and Sanctions
      • Export Controls
        • POLITICS: The EU Code of Conduct Fails to Prevent French Helicopters Being Produced Under Licence in India and Transferred to Nepal
        • A New Environment for Export Controls
          • POLITICS:Iran’s Nuclear Aspirations
      • Regulating International Business Behaviour
        • POLITICS: Iran’s Boycott of Danish Goods
    • HOST COUNTRY POLITICAL AND LEGAL ENVIRONMENT
      • Political Action and Risk
        • FIGURE 4.1: Exposure to political risk.
      • Economic Risk
      • Managing the Risk
      • Legal Differences and Restraints
      • The Influencing of Politics and Laws
    • INTERNATIONAL RELATIONS AND LAWS
      • International Politics
      • International Law
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISE
    • TAKE A STAND
    • FOR DISCUSSION
• PART 2 INTERNATIONAL BUSINESS AND MARKETS
  • CHAPTER 5 Financial Markets
    • LEARNING OBJECTIVES
    • CURRENCIES AND THE FEAR OF FLOATING
    • THE MARKET FOR CURRENCIES
      • Exchange Rate Quotations and Terminology
      • Direct and Indirect Quotations
        • Figure 5.1: Exchange rate and cross rate tables.
      • Cross Rates
      • Percentage Change Calculations
        • FIGURE 5.2: Guide to world currencies.
      • Foreign Currency Market Structure
        • FIGURE 5.3: Global currency trading: the trading day.
        • Table 5.1: Typical foreign currency quotations on a Reuters screen.
      • Market Size and Composition
        • FIGURE 5.4: Global foreign exchange market turnover (daily averages in April, billions of US dollars).
        • E-BUSINESS: Online Global Currency Exchange
        • CULTURE: The Linguistics of Currency Trading
    • THE PURPOSE OF EXCHANGE RATES
      • What Is a Currency Worth?
      • The Law of One Price
    • MONETARY SYSTEMS OF THE TWENTIETH CENTURY
      • Table 5.2: The hamburger standard.
      • The Gold Standard
      • The Inter-war Years, 1919–1939
      • The Bretton Woods Agreement, 1944–1971
      • Times of Crisis, 1971–1973
      • Floating Exchange Rates, 1973–Present
    • THE EUROPEAN MONETARY SYSTEM AND THE EURO
      • The Maastricht Treaty and the Euro
        • ‘Why’ Monetary Unification?
        • Fiscal Policy and Monetary Policy
        • Fixing the Value of the Euro
          • Table 5.3: The fixing of the exchange rates to the euro (€).
          • Figure 5.5: Monthly average exchange rates: US dollars per euro.
          • Figure 5.6: US dollar to euro currency exchange rate: past trend, present value and a prophetic future projection.
          • POLITICS: Sweden Says ‘No’ to the Euro
    • INTERNATIONAL MONEY MARKETS
      • Eurocurrency Markets
      • Eurocurrency Interest Rates
        • Table 5.4: Exchange rates and Eurocurrency interest rates.
      • Linking Eurocurrency Interest Rates and Exchange Rates
    • INTERNATIONAL CAPITAL MARKETS
      • Defining International Financing
        • Figure 5.7: Categorizing international financial transactions: issuing bonds in London.
    • INTERNATIONAL BANKING AND BANK LENDING
      • Structure of International Banking
    • INTERNATIONAL SECURITY MARKETS
      • The International Bond Market
      • International Equity Markets
        • CULTURE: Equity Market Crises in the Twentieth Century
      • Private Placements
      • Gaining Access to International Financial Markets
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 6 Economic Integration
    • LEARNING OBJECTIVES
    • BUILDING BLOCS TOWARD WORLDWIDE FREE TRADE
    • INTRODUCTION
    • LEVELS OF ECONOMIC INTEGRATION
      • Table 6.1: Forms of international economic integration.
      • The Free Trade Area
      • The Customs Union
      • The Common Market
      • The Economic Union
    • ARGUMENTS SURROUNDING ECONOMIC INTEGRATION
      • Trade Creation and Trade Diversion
      • Reduced Import Prices
      • Increased Competition and Economies of Scale
      • Higher Factor Productivity
      • Regionalism versus Nationalism
    • EUROPEAN INTEGRATION
      • Economic Integration in Europe from 1948 to the Mid-1980s
        • POLITICS: Integration Pains
        • Table 6.2: Membership of the European Union.
        • Table 6.3: Main provisions of the Treaty of Rome.
      • The European Union since the Mid-1980s
        • POLITICS
      • Organization of the EU
        • Figure 6.1: Organization and decision making of the EU.
      • Implications of the Integrated European Market
        • Table 6.4: Proposed company responses to European markets.
    • NORTH AMERICAN ECONOMIC INTEGRATION
      • US–Canada Free Trade Agreement
      • North American Free Trade Agreement (NAFTA)
        • RETAIL: Reshaping the World Retail Market
        • Latest Developments and Future Prospects for NAFTA
    • OTHER ECONOMIC ALLIANCES
      • Integration in Latin America
      • Integration in Asia
        • POLITICS: In Support of Free Trade in Asia
      • Integration in Africa
    • ECONOMIC INTEGRATION AND THE INTERNATIONAL MANAGER
      • Effects of Change
      • Strategic Planning
      • Reorganization
      • Lobbying
    • CARTELS AND COMMODITY PRICE AGREEMENTS
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 7 The Challenge of Emerging Markets
    • LEARNING OBJECTIVES
    • HIGH-TECH TEACHING IN CHINA
    • INTRODUCTION
    • DOING BUSINESS WITH CHANGING ECONOMIES
      • COMPETITION: From Global Partners to Global Competitors
      • Figure 7.1: The world economic pyramid.
      • INVESTMENT: R&D Investment: Pathway to Growth
      • A Brief Overview of Transition Economies
        • Table 7.1: Population of changing economies.
      • A Brief Overview of Emerging Economies
        • Table 7.2: Human capital of India and China.
      • A Brief Overview of Lesser-Developed Economies
      • The Realities of Economic Change
    • ADJUSTING TO GLOBAL CHANGE
      • Figure 7.2: Average annual growth rates in hourly compensation costs, 1994–2004.
      • Figure 7.3: Manufacturing (value added) as a percentage of GDP.
      • International Business Challenges and Opportunities
        • Table 7.3: Business climates in key economies.
    • STATE ENTERPRISES AND PRIVATIZATION
      • Reasons for State-Owned Enterprises
      • The Effect of State-Owned Enterprises on International Business
      • Privatization
        • Figure 7.4: Trends in global privatization.
        • POLITICS: ‘For Sale’ Signs Up in Russia
      • The Less-Developed Markets35
    • THE ROLE OF THE MULTINATIONAL FIRM
      • ENTREPRENEURSHIP: Meeting Need and Opportunity in Developing Markets
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
• PART 3 INTERNATIONAL BUSINESS STRATEGY
  • CHAPTER 8 Entry and Expansion
    • LEARNING OBJECTIVES
    • EXPANDING A BUSINESS
    • INTRODUCTION
    • THE ROLE OF MANAGEMENT
    • MOTIVATIONS TO GO ABROAD
      • Table 8.1: Major motivations to firms.
      • Proactive Motivations
      • Reactive Motivations
        • ENTREPRENEURSHIP: An International Bug
    • STRATEGIC EFFECTS OF GOING INTERNATIONAL
      • Figure 8.1: Profit and risk during early internationalization.
    • ENTRY AND DEVELOPMENT STRATEGIES
      • Exporting and Importing
        • Figure 8.2: Evolution of a manufacturer’s decision on entry mode.
    • INTERNATIONAL INTERMEDIARIES
      • Export Management Companies
        • Compensation of EMCs
        • Power Conflicts between EMCs and Clients
      • Trading Companies
        • Expansion of Trading Companies
      • Private Sector Facilitators
      • Public Sector Facilitators
        • Table 8.2: Selected export promotion agencies around the globe.
      • Licensing
        • CULTURE: TV Programme Licences Are International
      • Franchising
    • LOCAL PRESENCE
      • Inter-firm Co-operation
        • Reasons for Inter-firm Co-operation
          • Figure 8.3: Complementary strengths create value.
        • Types of Inter-firm Co-operation
          • Figure 8.4: Forms of inter-firm co-operation.
      • Equity Participation
      • Joint Ventures
        • Consortia
      • Managerial Considerations
      • Full Ownership
        • Table 8.3: Comparison of conditions of implementation, advantages and disadvantages of various entry modes.
    • A COMPREHENSIVE VIEW OF INTERNATIONAL EXPANSION
      • Figure 8.5: A comprehensive model of international market entry and development.
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 9 Strategic Planning, Organization, Implementation and Control
    • LEARNING OBJECTIVES
    • THE CHANGING LANDSCAPE OF GLOBAL MARKETS
    • GLOBALIZATION
      • Figure 9.1: Evolution of global strategy.
      • Globalization Drivers3
        • Market Factors
        • Cost Factors
          • Table 9.1: Consolidation in the paper industry 1998–2002.
        • Environmental Factors
        • Competitive Factors
        • The Outcome
          • ENTREPRENEURSHIP: Mininationals Leap into Global Markets
          • Figure 9.2: The global landscape by industry and market.
    • THE STRATEGIC PLANNING PROCESS
      • Understanding and Adjusting the Core Strategy
        • Figure 9.3: Global strategy formulation.
        • Market and Competitive Analysis
        • Internal Analysis
      • Formulating Global Marketing Strategy
        • Choice of Competitive Strategy
          • Figure 9.4: Competitive strategies.
        • Country-Market Choice
          • Figure 9.5: Example of a market-portfolio matrix.
          • Figure 9.6: Example of strategic interconnectedness matrix.
        • Segmentation
          • Figure 9.7: Bases for global market segmentation.
          • Table 9.2: Global segments based on cultural values.
      • Global Programme Development
        • Product Offering
        • Marketing Approach
        • Location of Value-Added Activities
          • Table 9.3: Globalization of the marketing mix.
        • Competitive Moves
      • Implementing Global Programmes
        • Challenges
      • Localizing Global Moves
        • Management Processes
        • Organization Structures
          • E-BUSINESS: Taking Globalism to the Extremes
        • Corporate Culture
    • ORGANIZATIONAL STRUCTURE
      • Organizational Designs
        • Little or No Formal Organization
          • Figure 9.8: The export department structure.
        • The International Division
          • Figure 9.9: The international division structure.
        • Global Organizational Structures
      • Product Structure
        • Figure 9.10: The global product structure (Kodak).
      • Area Structure
        • Figure 9.11: The global area structure.
      • Functional Structure
        • Figure 9.12: The global functional structure.
      • Customer Structure
      • Mixed Structure
        • Figure 9.13: Global matrix structure (S&M stands for Sales and Marketing).
      • Matrix Structure
      • Evolution of Organizational Structures
        • Figure 9.14: Evolution of international structures.
    • IMPLEMENTATION
      • Locus of Decision Making
        • Table 9.4: Levels of co-ordination.
      • Factors Affecting Structure and Decision Making
      • The Networked Global Organization
        • Figure 9.15: The networked global organization.
        • ENTREPRENEURSHIP: Centres of Excellence
      • Promoting Internal Co-operation
        • Table 9.5: Teaching programmes at Ford Motor Co.
      • The Role of Country Organizations
        • Figure 9.16: Roles for country organizations.
    • CONTROLS
      • Types of Controls
        • E-BUSINESS: Knowledge across Boundaries
        • Bureaucratic/Formalized Control
          • Table 9.6: Comparison of bureaucratic and cultural control mechanisms.
        • Cultural Control
          • Figure 9.17: Securing country–organization co-operation.
      • Exercising Controls
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND – STRATEGY
    • FOR DISCUSSION
    • TAKE A STAND – ORGANIZATION
    • FOR DISCUSSION
• PART 4 INTERNATIONAL BUSINESS OPERATIONS
  • CHAPTER 10 Marketing, Logistics and Supply-Chain Management
    • LEARNING OBJECTIVES
    • BEING A GOOD SPORT GLOBALLY
    • MARKETING IN INTERNATIONAL BUSINESS OPERATIONS
    • TARGET MARKET SELECTION
      • Identification and Screening
        • Preliminary Screening
          • Figure 10.1: The screening process in target market choice.
        • Estimating Market Potential
        • Estimating Sales Potential
        • Identifying Segments
      • Concentration versus Diversification
        • Expansion Alternatives
        • Factors Affecting Expansion Strategy
        • Market-Related Factors
          • Table 10.1: Factors affecting the choice between concentration and diversification strategies.
        • Mix-Related Factors
        • Company-Related Factors
    • MARKETING MANAGEMENT
      • Standardization versus Adaptation
        • Table 10.2: Standardization versus adaptation.
        • Factors Affecting Adaptation
      • Marketing Mix Policy
        • Product Policy
          • Figure 10.2: Factors affecting product adaptation decisions.
        • Pricing Policy
          • LOGISTICS: Export Documentation
          • LOGISTICS: Terms of Shipment and Sale
        • Distribution Policy
        • Promotional Policy
          • LOGISTICS: Distribution and Supply-Chain Management – Logistics in China
          • LOGISTICS: Ocean Shipping
          • LOGISTICS: Air Shipping
    • INTERNATIONAL LOGISTICS DEFINED
    • SUPPLY-CHAIN MANAGEMENT
      • Figure 10.3: The international supply chain.
    • DIMENSIONS OF INTERNATIONAL LOGISTICS
      • International Transportation Issues
        • Table 10.3: Evaluating transportation options.
      • International Inventory Issues
    • INTERNATIONAL PACKAGING ISSUES
      • Figure 10.4: Stresses in intermodal movement.
    • INTERNATIONAL STORAGE ISSUES
      • Special Trade Zones
    • MANAGEMENT OF INTERNATIONAL LOGISTICS
      • Centralized Logistics Management
      • Decentralized Logistics Management
      • Outsourcing Logistics Services
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • TAKE A STAND (1)
    • FOR DISCUSSION
    • TAKE A STAND (2)
    • FOR DISCUSSION
  • CHAPTER 11 Financial Management
    • LEARNING OBJECTIVES
    • THE FINANCIAL CHALLENGES OF SCHERING-PLOUGH
    • INTRODUCTION
    • WHAT IS THE GOAL OF MANAGEMENT?
      • Global Financial Goals
        • ETHICS Stockholder Wealth Maximization and Corporate Culture: The Enron Debacle
      • Genus Corporation
        • Tax Management
          • Figure 11.1: Genus corporation and foreign subsidiaries.
        • Currency Management
        • Funds Flow Management
      • Multinational Management
        • Table 11.1: Genus corporation’s consolidated gross profits (in 000s).
    • IMPORT/EXPORT TRADE FINANCING
      • Figure 11.2: Trade financing with a letter of credit.
      • Trade Financing Using a Letter of Credit (L/C)
    • MULTINATIONAL INVESTING
      • Capital Budget Components and Decision Criteria
      • A Proposed Project Evaluation
        • Table 11.2: Multinational capital budget: Singapore manufacturing facility.
      • Risks in International Investments
    • INTERNATIONAL CASH FLOW MANAGEMENT
      • Figure 11.3: Operating and financing cash flows of a multinational firm.
      • Operating Cash Flows and Financing Cash Flows
      • Intra-firm Cash Flows and Transfer Prices
        • POLITICS Swiss Unit Pays Penalty for Transfer Pricing Abuse
      • Cash Management
        • Figure 11.4: Netting and cash pooling of cash flows in the multinational firm.
        • Netting
        • Cash Pooling
        • Leads and Lags
          • Figure 11.5: Establishing a re-invoicing centre in the multinational firm.
        • Re-Invoicing
        • Internal Banks
    • FOREIGN EXCHANGE EXPOSURE
      • Transaction Exposure
        • CULTURE To Hedge or Not to Hedge?
      • Transaction Exposure Management
        • ETHICS The Role of Currency Gains in Amazon.com’s Quest for Profits
      • Risk Management versus Speculation
      • Currency Risk Sharing
    • ECONOMIC EXPOSURE
      • Impact of Economic Exposure
      • Economic Exposure Management
    • COUNTERTRADE
      • POLITICS The Booming Business of Countertrade
      • A Definition of Countertrade
        • Table 11.3: A sample of barter agreements.
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
  • CHAPTER 12 Human Resource Management1
    • LEARNING OBJECTIVES
    • SEARCHING FOR GLOBAL EXECS
    • INTRODUCTION
    • MANAGING MANAGERS
      • Early Stages of Internationalization
      • Advanced Stages of Internationalization
        • Figure 12.1: International management development.
      • Inter-firm Co-operative Ventures
      • Sources for Management Recruitment
        • Table 12.1: The major advantages and disadvantages of expatriates.
      • Selection Criteria for Overseas Assignments
        • Table 12.2: Criteria for selecting managers for overseas assignment.
        • Competence Factors
        • Adaptability Factors
        • Personal Characteristics
          • CULTURE Women and the Global Corporate Ladder
        • The Selection and Orientation Challenge
          • Figure 12.2: Companies offering cultural training.
      • Culture Shock
        • Figure 12.3: Culture shock cycle for an overseas assignment.
        • Causes and Remedies
        • Terrorism: Tangible Culture Shock
      • Repatriation
      • Compensation
        • Base Salary and Salary-Related Allowances
          • Table 12.3: International cost comparisons.
        • Nonsalary-Related Allowances
        • Method of Payment
        • Compensation of Host-Country Nationals
    • MANAGING LABOUR PERSONNEL
      • Labour Participation in Management
        • Labour Participation in Decision Making
          • Table 12.4: Degree of worker involvement in decision making of firms.
        • Improvement of Quality of Work Life
      • The Role of Labour Unions
        • ETHICS Global Unions versus Global Companies
      • Human Resource Policies
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
• PART 5 FUTURE
  • CHAPTER 14 New Horizons
    • LEARNING OBJECTIVES
    • IMPORTING ON THE INTERNET
    • INTRODUCTION
    • THE INTERNATIONAL BUSINESS ENVIRONMENT
      • The Political Environment
      • Planned versus Market Economies
      • The North -- South Relationship
        • Emerging Markets
          • POLITICS Food Fight in Africa
        • A Divergence of Values
          • Figure 14.1: General economic indicators: GDP volume and GDP growth.
      • The International Financial Environment
        • Figure 14.2: General economic indicators: GDP per capita.
        • Figure 14.3: General economic indicators: GDP composition.
      • The Effects of Population Shifts
      • The Technological Environment
    • GLOBALIZATION AND TRADE NEGOTIATIONS
    • GOVERNMENT POLICY
    • THE FUTURE OF INTERNATIONAL BUSINESS MANAGEMENT
      • International Planning and Research
        • Figure 14.4: Long-term planning.
      • International Product Policy
        • TABLE 14.1: US patents granted to foreign inventors in 2002.
      • International Communications
      • Distribution Strategies
      • International Pricing
    • KNOWLEDGE AND INTERNATIONAL BUSINESS
    • CAREERS IN INTERNATIONAL BUSINESS
      • CULTURE Ensuring Student Safety Abroad
      • Further Training
      • Employment with a Large Firm
        • Table 14.2: Web sites in gaining international employment.
      • Opportunities for Women in Global Management
      • Employment with a Small or Medium-Sized Firm
      • Self-Employment
    • SUMMARY
    • QUESTIONS FOR DISCUSSION
    • INTERNET EXERCISES
    • TAKE A STAND
    • FOR DISCUSSION
• PART 6 CASE STUDIES
  • Case Study 1 RENAMING THE VIETNAMESE CATFISH1
    • The US Catfish Industry
    • The Issue
    • Congressional Reaction
    • When Is a Catfish a Catfish?
    • The Issue and the Free Trade
    • Questions for Discussion
  • Case Study 2 TURKEY’S KRIZ
    • TURKEY’S KRIZ
    • The Balance of Payments Accounts
      • Figure 1: Turkey’s balance of payments, 1993-2000.
      • Table 1: Sub-accounts of the Turkish current account, 1998-2000 (millions of US dollars).
      • Table 2: Sub-accounts of the Turkish financial account, 1998-2000 (millions of US dollars).
    • Turkish Banking
      • Figure 2: Turkish inflation rate and exchange rate (quarterly).
      • Figure 3: The fall of the Turkish Lira. Time period shown in diagram: 1 June 2000-30 May 2001.
    • Economic Death Spiral
    • Turkish Kriz
    • Questions for Discussion
  • Case Study 3 GLOBALIZING A SMALL HYDRAULIC FIRM FROM EASTERN EUROPE1
    • Transformation of a Bulgarian Small Enterprise
    • Environmental Characteristics
    • Market Position
    • Company Performance
    • Competitive Environment
      • Rammer
      • Svedala
      • Case Corporation
      • Darda Corporation
      • Genesis
      • Gradall
      • Grasan
      • Indeco
      • Padley and Venables
      • Aquajet
      • Atlas Copco
      • Brokk
      • Dimas
      • Soosan Breakers
    • Latest Developments
    • Questions for Discussion
  • Case Study 4 COSMETICS FROM POLAND1
    • The Polish Cosmetics Market
      • Figure 1: Market size, US$ million.
    • The Company
      • Figure 2: Structure of the R&D department. More details about the research programme can be obtained from: www.drirenaeris.pl/badania/en/badania.php and www.drirenaeris.pl/en/kosmetyki_skladniki.php.
      • Brand Image
      • Diversification
        • Figure 3: Brands and consumer target groups. More information about the products and brands can be found at www.beautyexclusive.com/erisskincare.html.
        • Figure 4: Market segments and company brands.
      • Marketing Communications
      • Internationalization
    • Questions for Discussion
  • Case Study 5 GENERAL MOTORS AND AVTOVAZ OF RUSSIA
    • General Motors Corporation
    • The Russian Automobile Industry
      • Table 1: The Russian car industry, 1991-1999 (units).
    • AvtoVAZ
    • AvtoVAZ Ownership
      • Figure 1: AvtoVAZ’s web of influence and ownership.
      • AvtoVAZ Suppliers
      • Dealerships and Distribution
      • International Activities
        • Table 2: AvtoVAZ suppliers owned or controlled by SOK.
        • Table 3: AvtoVAZ exports.
    • Foreign Entry into Russia
      • Table 4: Foreign car producers in Russia.
    • Renewed Interest
      • Table 5: Russian car market shares by price.
    • Negotiations
      • Market Strategy
      • Timing
      • Financing
      • Structure
      • Progress
    • Questions for Discussion
    • Appendix 1
    • Appendix 2
    • Appendix 3
    • Appendix 4
    • Appendix 5
  • Case Study 6 GLOBAL TELECOM LEADERS MEET A FAMILY CONGLOMERATE
    • Importance of the Turkish Market as an Emerging Economy
    • The Uzan Conglomerate
    • Motorola and Nokia: The Western Partners
      • Figure 1: Motorola: by the numbers.
      • Nokia
        • Figure 2: Motorola performance 1999-2003.
        • Figure 3: Motorola net income/loss 1999-2002.
    • The Turkish Telecom Market
      • Figure 4: Motorola revenues 1999-2002.
      • Figure 5: Telephone subscribers (fixed and mobile) per 100 inhabitants in Turkey.
      • Table 1: Wireless markets in Europe.
    • TelSim’s Foreign Partners and the Default
      • Table 2: Turkish mobile market leaders.
    • The Aftermath of the Conflict
    • Questions for Discussion
  • Case Study 7 TOYOTA EUROPE
    • Currency Exposure
    • Management Response
      • Figure 1: Toyota Motor’s European currency operating structure.
      • Figure 2: Daily exchange rates: Japanese yen per euro.
      • Figure 3: Daily exchange rates: British pounds per euro.
    • Questions for Discussion
  • Case Study 8 WHEN DIAMONDS WEEP
    • From Mine to Market
    • The De Beers Dynasty
      • Figure 1: Major diamond-producing countries.
      • Figure 2: Global retail sales of diamond jewellery.
    • Controversies Arise
    • The History of Conflict Diamonds
    • Investigators Bring Problem to Light
    • Ties to Terrorist Groups
      • Table 1: Belgian diamond imports compared with exports from certain countries (US$ millions).
    • The Kimberley Process
    • Critics Speak Out
    • The US Response
    • New Technologies Offer Solutions
    • Questions for Discussion
  • Case Study 9 BUILDING A COMPETITIVE ADVANTAGE IN A MATURE INDUSTRY: THE CASE OF GORENJE
    • Introduction
    • Gorenje’s Timeline
      • 1950–1960
      • 1961–1970
      • 1971–1980
      • 1981–1990
      • 1991–1996
      • 1997–2005
      • 2006
      • 2007
    • The Household Appliance Industry
      • Table 1: SWOT analysis for European home appliance companies.
    • Gorenje’s Business Strategy
    • Gorenje’s Internationalization Strategy
      • Figure 1: Gorenje branding strategies.
      • Table 2: Gorenje’s investments by entry mode.
      • Figure 2: Gorenje large household appliance unit sales by region in 2006.
      • Figure 3: Number of manufactured household appliances by year (in ’000s household appliances).
    • The Future
    • Discussion Questions
  • Case Study 10 BOLIVIA NATIONALIZES THE OIL AND GAS SECTOR1
    • The Nationalization Spree
    • Oil and Gas Resources in Bolivia
    • Oil Resources
    • Gas Resources
      • Figure 1(a): Map of Bolivia.
      • Figure 1(b): Bolivia – a brief profile
    • The Bolivian Gas War
      • Figure 2: Bolivia GDP growth by sectors 1990-2003.
      • Figure 3: Oil production and consumption in Bolivia: 1980-2005. The production and consumption figures are for the months of January to June in every year.
      • Figure 4: History of oil in Bolivia.
      • Figure 5: History of natural gas in Bolivia.
      • Figure 6: Bolivia’s natural gas reserves: 1997-2005.
      • Figure 7: Gas production and consumption in Bolivia: 1980-2003.
      • Table 1: Brief profile of the oil and gas sector in Bolivia (figures reported in 2005).
    • The Nationalization
      • Table 2: Questions in the referendum.
      • Table 3: Results of the referendum.
      • Table 4: Key points in the nationalization decree.
      • Figure 8: Complete text of the presidential decree (28 701) on nationalization of oil and gas sector.
    • Benefits of Nationalization
    • The Criticism
    • The Two Summits
    • The Road Ahead
    • Questions for Discussion
    • FURTHER READING
  • Case Study 11 CORPORATE GOVERNANCE AT BAYERISCHE MOTOREN WERKE (BMW)
    • Introduction
    • Background Note
      • Figure 1: BMW group: figures.
    • The Board of Management and Supervisory Board
      • Figure 2: Board of directors
    • Board of Management
      • Tasks and Responsibilities
      • Composition and Compensation
      • Conflicts of Interest
    • The Supervisory Board
      • Tasks and Responsibilities
        • Figure 3: Supervisory board.
      • Formation of Committees
      • Composition and Compensation
      • Conflicts of Interest
      • Transparency
    • Questions for Discussion
    • FURTHER READING
  • Case Study 12 DANFOSS’ BUSINESS STRATEGY IN CHINA1
    • Introduction
    • Background Note
      • Figure 1: Danfoss organization.
      • Table 1: Danfoss worldwide -- financial performance (2001--2005).
    • Danfoss Enters China
      • Figure 2: Air-conditioning and refrigeration industry in China. (Compiled from various sources).
      • Figure 3: Danfoss in China.
    • The Initial Years
    • The China Strategy
      • Table 2: Danfoss’ manufacturing facilities.
      • Figure 4: Danfoss -- product categories in China.
      • Figure 5: Cold food chain in China. (Compiled from various sources).
      • Table 3: Danfoss -- eight most important success factors for doing business in China.
    • The Road Ahead
    • Questions for Discussion
    • FURTHER READING
  • Case Study 13 GAZPROM--NAFTOGAZ UKRAINY DISPUTE: BUSINESS OR POLITICS?1
    • Introduction
    • Background
      • Figure 1: Gazprom’s gas exports to Western Europe in Bcm (2000--2004).
      • Figure 2: Gas exports to Europe transiting through Ukraine and other countries.
      • Exports to Europe
        • Figure 3: Gazprom’s production and financial details.
        • Figure 4: World proven natural gas reserves by region as of 1 January 2004.
    • Disputes with Ukraine
      • Gas Disputes in the 1990s
        • Figure 5: Gazprom’s alternative options for gas exports.
    • Elections in Ukraine
    • Turn of Events
    • Political Aspect
      • Figure 6: Gazprom’s 2006 tariffs per 1000 cubic metres of gas. Compiled from various sources.
      • The Settlement
    • Outlook
    • Questions for Discussion
    • FURTHER READING
  • Case Study 14 WAL-MART’S GERMAN MISADVENTURE1
    • German Blues
    • Background Note
      • Table 1: Wal-Mart retail divisions.
    • Business Segments
    • Wal-Mart’s International Operations
      • Table 2: Wal-Mart specialty divisions.
      • Table 3: Wal-Mart’s international presence in 2003.
      • Table 4: Operating income from international operations.
    • Wal-Mart in Germany
    • Entry Strategy Gone Wrong?
    • Problems in Operating Environment
      • Figure 1: A note on the retailing industry in Germany.
      • Figure 2: Profiles of German retailers.
    • Problems in External Environment
    • Cultural Mismatch
    • Future Prospects
      • Table 5: Sales and operating profit in Germany.
      • Table 6: Customer satisfaction ratings of German retailers.
    • Questions for Discussion
    • FURTHER READING
• Back Matter
  • GLOSSARY
    • A
    • B
    • C
    • D
    • E
    • F
    • G
    • H
    • I
    • J
    • L
    • M
    • N
    • O
    • P
    • Q
    • R
    • S
    • T
    • U
    • V
    • W
  • REFERENCES
    • Chapter 1
    • Chapter 2
    • Chapter 3
    • Chapter 4
    • Chapter 5
    • Chapter 6
    • Chapter 7
    • Chapter 8
    • Chapter 9
    • Chapter 10
    • Chapter 11
    • Chapter 12
    • Chapter 13
    • Chapter 14
    • Case Study 1
    • Case Study 5
    • Case Study 6
    • Case Study 8
    • Case Study 10
    • Case Study 12
    • Case Study 13
    • Case Study 14
  • INDEX

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