xxi CONTENTS module 1 The Challenging Context of International Business What Is International Business and What Is Different about It? 5 The Influence of External and Internal Environmental Forces 5 | The Domestic Environment 6 | The Foreign Environment 6 | The International Environment 7 Is Internationalization of Business a New Trend, and Will It Continue? 10 The Growth of International Firms and International Business 11 Expanding Number of International Companies 12 | Foreign Direct Investment and Exporting Are Growing Rapidly 13 What Is Driving the Internationalization of Business? 14 Political Drivers 14 | Technological Drivers 14 | Market Drivers 15 | Cost Drivers 15 |Competitive Drivers 15 What Is Globalization and What Are the Arguments for and against the Globalization of Business? 17 Arguments Supporting Globalization 17 | Concerns with Globalization 18 Summary 23 | Key Terms | Critical Thinking Questions | globalEDGE Research Task | Minicase | Notes module 2 International Trade and Investment International Trade 30 Volume of International Trade 30 | How Evenly Has Trade Grown? 30 | Which Nations Account for the Most Exports and Imports? 32 Direction of Trade 32 The Increasing Regionalization of Trade 32 | Major Trading Partners: Their Relevance for Managers 33 | Major Trading Partners of the United States 33 Explaining Trade: International Trade Theories 35 Mercantilism 35 | Theory of Absolute Advantage 35 | Theory of Comparative Advantage 37 | How Exchange Rates Can Change the Direction of Trade 38 | Some Newer Explanations for the Direction of Trade 41 | Summary of International Trade Theory 45 Foreign Investment 45 Portfolio Investment 46 | Foreign Direct Investment (FDI) 46 | Does Trade Lead to FDI? 51 Explaining FDI: Theories of International Investment 51 Monopolistic Advantage Theory 52 | Strategic Behavior Theory 52 | Internalization Theory 52 | Dynamic Capabilities 53 | Eclectic Theory of International Production 53 Summary 55 | Key Terms | Critical Thinking Questions | globalEDGE Research Task | Minicase | Notes module 3 Sociocultural Forces What Is Culture and Why Is It Important? 61 Culture Affects All Business Functions 63 Marketing 63 | Human Resources 63 | Production and Procurement 65 | Accounting and Finance 65 | Preferred Leadership Styles 65 How Culture Shows Itself 66 Aesthetics 66 | Religion 67 | Material Culture 69 | Language 69 | Societal Organization 70 | Special Focus: Gift Giving in Business 73 Culture Frameworks 73
Geringer_InternationalBusiness
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