xv • End-of-module mini-case to sparks class discussion and applies concepts to a situation facing or international managers. MINICASE ARE YOU REALLY BUYING AMERICAN? Consider the following scenario of a “typical” American family: The Osbornes, Jesse and Ann, live in the suburbs of Chicago. Jesse is a manager at Trader Joe’s specialty grocery store chain. Ann is an advertising executive for Leo Burnett Worldwide. work, stopping for gas at the Shell station. At the grocery store, she fills her cart with a variety of items, including Ragu spaghetti sauce, Hellmann’s mayonnaise, Carnation Instant Breakfast drink, a case of Arrowhead water, CoffeeMate nondairy coffee creamer, Chicken-of-the-Sea CCULTURE FACTS CULTURE FACTS @internationalbiz @CompanyName Text for what company is referencing. Tas asja asd asd #culture #funfacts #cool • Culture Facts appear in the margin of each module, helping to build your interest as you read and to stimulate class discussion by illuminating cultural differences international managers face. “ WE HAVE to SEND OUR BEST AND BRIGHTEST OVERSEAS AND MAKE SURE THEY HAVE THE TRAINING THAT WILL ALLOW THEM to BE THE GLOBAL LEADERS WHO WILL MAKE GE FLOURISH in THE FUTURE. ” —Jack Welch, former CEO of General Electric • Quotations from notable thinkers highlight key points. • Key Terms are highlighted and defined in the margin of the text. initions of terms in international business, we will employ the initions, which are generally accepted by managers. International business is usiness that is carried out across national borders. This definition includes not only ut also the growing service industry in areas ertising, consulting, construction, retailing, wholesaling, denotes the operations of a company outside usiness conducted within a foreign used interchangeably with “international business” by An international company (IC) is a usiness in that a firm operating across international business Business that is carried out across national borders foreign business The operations of a company outside its home or domestic market international company (IC) A company with operations in multiple nations • Icons in the margin highlight where each learning objective is addressed, identify content relevant to social media and culture, and call out related material in McGraw-Hill Connect to further enhance your comprehension and learning. LO 2-1 Appreciate the magnitude of international trade and how it has grown. SUMMARY controllable forces (p. 6) domestic environment (p. 6) economic globalization (p. 17) environment (p. 5) exporting (p. 13) LO 1-1 Show how international business differs from domestic business. KEY TERMS CRITICAL THINKING QUESTIONS International business is business whose activities are carried out across national borders. International business differs from its domestic counterpart in that it involves three environments—domestic, foreign, and international—instead of one. Although the kinds of forces are the same in the domestic and foreign envi- foreign business (p. 5) foreign direct investment (FDI) (p. 13) foreign environment (p. 6) importing (p. 13) international business (p. 5) RESEARCH TASK http://globalEDGE.msu.edu/ 6. “A nation whose GNI is smaller than the sales v of a global firm is in no po on the local subsidiar true or false? Please e 7. What examples of glo 1. Business is business, and every firm has to find ways to produce and market its goods. Why, then, might managers be unable to successfully apply the techniques and concepts they have learned in their own country to other areas of the world? Use the globalEDGE website (http://globalEDGE.msu. edu/) to complete the following exercises: 1. You are an executive who is in charge of new market development for an international company. You are currently conducting an initial market research on Qatar, Vietnam, and New Zealand in order to understand their overall market attractiveness. Locate each country in the “Insights by Country” section of globalEDGE and check their “Ease of Doing Business” rankings in their respective “Indices” pages. Also check their “Economy” pages and take a brief look at their economic snapshot graphs. Which of these three has a stronger economy? Which country is more promising as a potential new market? Why? 2. You work for a domestic cheese producer in the food and beverage industry and you are planning to start exporting your products. As a starting point you would like to examine trade patterns to identify the top-10 countries that import the highest amount of food and beverage goods. In the “Insights by Industry” section of globalEDGE, locate the Food and Beverage Industry and check its “Trade Statistics” page. Which countries are the top-10 importers in the industry; what are their import volumes? In the same page, check also the top-10 traded goods for this specific industry. Is your product in the top-10 imported or exported products globally? • A summary, key terms, critical thinking questions, and a globalEDGE research assignment wrap up the module.
Geringer_InternationalBusiness
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