STUDENT FOCUSED FEATURES xiv • Student focused introductory example focus on the module’s main ideas with a narrative to which students can relate and develop a global mind-set. Why You Need International Experience and How to Get It cross- functional areas; and (3) the importance indicated in the preceding points was magnified for companies that anticipated increasing importance of international activities in the next five years. For developing international skills, respondents believed that a number of courses in the international business curriculum are relevant to their companies. In addition to an introduction to international business course, the internationally oriented courses viewed as being the most important for early career positions included topics related to (1) international strategy and competitiveness, (2) international legal and political issues, (3) international negotiation, and (4) foreign language.d From our study it appears that CEOs of major U.S. firms doing business overseas are convinced that the business graduates they hire should have some education in the international aspects of business. Clearly, they prefer business IB IN PRACTICE Virtually Ripped Off? Intellectual Property Issues in Second Life and Maple Story graduates who know something about markets, customs, and cultures in other countries. As Peter Lacy of Accenture stated, “Our clients increasingly operate seam- • Get That Job! From Backpack to Briefcase follows an actual student’s transition from college to work in an international context, through such activities as study abroad, international internship and volunteer work, and early career decisions. Will international experience help you to get a job? The answer is a definite “yes,” according to Dan Black, director of campus recruiting for the Americas for Ernst & Young, who says, “We definitely see overseas experience as an advantage. . . . Our clients are demanding more of us these days. They want diversity of thought and diversity of values.”a International experience is valuable not only for new hires, but also for mid-career individuals who aspire to higher positions and greater responsibility. For example, as a young assistant controller at the Fortune 500 medical device company Medtronic, Gary Ellis was considered to be on the fast track for a top management position, but company executives felt he first needed broader experience. They sent Ellis to head their European headquarters in Belgium, where he was responsible for many top-level duties. Two years later, when the corporate controller’s • IB in Practice illustrates key international business concepts as decision makers apply them in their practice of global management. The Second Life virtual world, once considered a haven for geeks, celebrated its tenth anniversary in June 2013, and since then it has claimed mainstream success with more than 36 million users worldwide.* Maple Story, originally Korean, is an animated game platform with localized versions that maintains a cash shop where players can buy digital pets, avatars, and other items. Each of these virtual worlds creates a self-sufficient universe with almost everything the real world has, including intellectual property rights and tax liability. As the virtual world of Second Life has become more like the real world, its residents’ need for realism has increased, and brand owners are finding that their trademarked products appear online without their authorization. Benjamin Duranske, a lawyer who specializes in virtual law, found 15 shops on Second Life advertising Ferrari cars; 40 stores selling virtual Rolex and Chanel watches; and another 50 that carried sunglasses carrying the brand names of Gucci, Prada, Rayban, and Oakley. Creators of virtual goods for sale in virtual worlds are also worried about violation of their intellectual property rights. Linden Lab, which owns Second Life, was sued by an entrepreneur who created virtual erotic “SexGen” beds the case was quietly closed. How to handle the issues raised by lawsuits in virtual worlds like Second Life and Maple Story remains an open question. In Evans v. Linden Research, in November 2012, a Northern District of California judge “certified a class of ‘persons whose assets, including virtual items, virtual land, and/or currency in lindens and/or U.S. dollars, have been GLOBAL DEBATE LENDING TO THE POOR: Charitable Activity or For-Profit Business? You might think it is foolish to lend money to the poor in a developing country. How will borrowers pay it back? But a tiny, or microfinance, loan to a new small-business owner or entrepreneur—a vegetable peddler, tailor, or candle maker—can GET THAT JOB! make both good charitable and good business sense. Development organizations around the world are finding that some of the world’s poorest entrepreneurs, many of whom are women, repay their debts at rates approaching 100 percent. Microloans give thousands of small entrepreneurs small spurts of working capital when they need it, allow them to establish credit, and let them borrow again in hard times. The money helps them start or expand their business and boosts the local economy. The microcredit concept was developed by Muhammad Yunus, a U.S.- trained Bangladeshi economist, through the Grameen Bank in Bangladesh, which he established to administer his program, and by ACCION, a U.S. microcredit organization. Dr. Yunus was awarded the Nobel Peace Prize in 2006 for his work fighting poverty. some have gone public, selling shares to investors. The move to private ownership that seeks a return on investment changes the microloan business model substantially, from charity to for-profit business. The charity model uses donated funds and funds from international financial institutions such as the World Bank and the European Bank for Reconstruction and Development, and it has relatively low interest rates. Compartamos now charges its credit customers in the range of 100 percent (on an annualized basis) to cover loan interest, fees, and taxes, three times the cost of borrowing from other microcredit lenders. To make matters a little more complicated, many of the shareholders who profited greatly from the Compartamos FROM BACKPACK TO BRIEFCASE IPO are themselves microlenders, such as ACCION. Is it right to profit from loans to the poor? Dr. Yunis thinks not and “refuses to mention the words Compartamos and microfinance in the same breath.” But here’s an explanation from the two friends who founded Compartamos in 1990. They suggest that, just like food in a famine, money exists in poor countries; the problem is distribution. The potential for profit quickly and efficiently brings private capital in touch with the people who need it, say the two. They see going public as a way to align the world’s wealth with the world’s poor. View a PBS video that explores this issue further at • Global Debate contrasts different perspectives on key international business issues, raises the pros and cons of ethical issues, and helps stimulate classroom discussion. RYAN HOLTZMAN IN DALIAN, CHINA: Challenge Yourself to Move beyond Your Comfort Zone I am a business major with a concentration in international management and a minor in psychology. At this point, my major career goal is to spend an extended period of time (over a year) working in another country. I know that this probably won’t happen right away, but it is something that I will surely work toward. I have always been interested in In China, I worked as an English teacher. I mostly taught children 2–10 years old, but I also taught one adult class for a month. I had only been accepted for this opportunity about a month before I was supposed to start, so my preparation was fairly rushed. I had no background in Mandarin, so I did what I could to learn some basic phrases before I left. I asked around and found a couple of people who had previously spent time working in China and I asked them about their experiences and whether they had any advice for me. I did a lot of research on the city I was going to be living in and tried to learn all I could about everyday life in China. Since I found this opportunity through AIESEC, my living arrangements and transportation from the airport were already established before I left, which was a huge benefit. The most important thing I did to help myself adjust to the Chinese culture when I was abroad was make a few friends I could really trust. I ended up living in a couple of different places with some great American and Canadian friends that I made, but it was invaluable having a couple of Chinese friends on whom I could rely for help when I needed it. If I ever needed anything—from finding transportation to learning how to ask for a haircut—my friends were willing to provide their assistance. I didn’t really run into any reverse culture shock upon my return to the United States. I think a large part of that was due to the fact that I spent only five months in the country. My experience abroad definitely changed the way I view certain parts of my life, but I didn’t have any trouble assimilating back into the U.S. culture.
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