MODULE WALKTHROUGH xii International Business is organized into three sections to maximize its utility to instructors and students alike. The opening section, Module 1, defines the nature of international business and the three environments in which it is conducted, as well as the nature and continuing importance of international institutions and how they affect business. The second section, comprised of Modules 2 through 8, focuses on the uncontrollable forces at work in all business environments and discusses their inevitable impact on business practice. We devote the third and final section, Modules 9 through 15, to a discussion of how managers deal with all the forces affecting international business. Module 1: The Challenging Context of International Business: Discusses the importance of international business and how it differs from domestic business. Describes the history of globalization and the internationalization of business and markets, including the driving forces encouraging firms to internationalize their operations. Compares key arguments in favor of and opposing the globalization of business. Module 2: International Trade and Investment: Describes trends and traits of international trade and foreign direct investment. Introduces and distinguishes among the theories that explain why certain goods are traded internationally. Describes the growth of and explanations for foreign direct investment. Module 3: Sociocultural Forces: Explores what culture is and its influence on business. The module looks at how cultures show themselves, provides frameworks for analyzing cultures, describes the global mind-set and a model for building strength from diverse cultures, and closes with advice for operating in other cultures. Module 4: Sustainability and Natural Resources: Describes environmental sustainability in a business context, provides frameworks for sustainability, examines the characteristics of environmentally sustainable businesses, and then moves to a discussion of natural resources that includes geography and energy options. Module 5: Political Forces That Affect Global Trade: Looks at government involvement in business, the importance of government stability to business, the role of country risk assessment, and the ways governments impede trade through tariffs and other trade barriers. Module 6: Intellectual Property Rights and Other Legal Forces: Reviews legal systems and the rule of law, discusses legal concerns in international business, the ways intellectual property can be protected, and the international standardization of some laws. Examines specific national-level legal approaches in competition, trade, tort, ethics, and accounting. Module 7: Economic and Socioeconomic Forces: Explains the purpose of economic analysis and discusses different categories of countries based on levels of national economic development. Explores human-needs development and global population trends involving urbanization, treatment of gender, ethnicity, and other sociocultural factors. Module 8: The International Monetary System and Financial Forces: Describes the development of the international monetary system from the gold standard through today’s floating currency exchange rate system and describes the process of exchange rate movement. Discusses the financial forces governments can exert and the significance of the balance of payments to international business decisions. Module 9: International Competitive Strategy: Examines international competitive strategy and how companies use strategic planning to address international business opportunities and challenges. Discussion includes how companies develop competencies to give them competitive advantage in national, regional, and global markets.
Geringer_InternationalBusiness
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