Read more
Globalization has been under extreme pressure in the wake of the financial crisis. Multinational firms are weighing the costs and benefits of international scale and scope, and are increasingly under pressure to hire local, to source local, and to pay taxes domestically. At the same time global competitive pressures have intensified.
This book reviews international business practices from the multinational firm perspective, and provides pathways forward concerning competitiveness and sustainability in global markets. What sets this book apart from others is that the benefits and pitfalls of globalization are addressed. Chapter coverage focuses on the functional areas of the business and how they are impacted by international expansion. Practical case studies supplement chapter coverage and highlight both positive and negative developments in the global business arena. Readers should expect to be challenged on what will be the limits of the multinational firm in the future, and how multinational firms can continue to prosper while at the same time adhere to sustainable business initiatives.
Equally useful to both undergraduate and graduate students of international business as well as professional development programs, Global Business: Competitiveness and Sustainability provides a necessary tonic for dealing with today's troubled seas of globalization.
List of contents
Chapter One: Global Business: Competitiveness and Sustainability 1
Globalization: Detractors and Supporters 2
Global Business: The Balance of Competitiveness and Sustainability 4
Thematic Definition of the Field of International Business 10
Chapter Two: International Marketing 11
What Must Be Done: The International Marketer's Dilemma 11
To Centralize or Decentralize: The First Key Decisions 12
Ethnocentric, Geocentric, & Polycentric Approaches 14
Product Decisions 14
Promotional Tools 16
Personal Selling 17
Sales Promotions 18
Publicity and Public Relations 18
Pricing Decisions 18
Pricing Methods 19
Placement Decisions: Distribution of Products 22
The Importance of Placement 22
Factors Involved in Distribution Decisions 23
Summary 26
Discussion Questions 27
Bibliography 28
Appendix: A Checklist for Export Marketing 30
Chapter Three: International Finance 33
Financing International Business 33
Working Capital Management 33
Intra-company Pooling 36
Hedging Against Inflation 37
Managing Blocked Funds 37
Transfer Pricing 39
Capital Budgeting and Financial Structure of an MNC 40
Exchange Control Restrictions on Remittances 40
Political Risks 40
Tax Considerations 40
Sources of Funds 41
Currency of Borrowing Investments 41
Different Inflation Rates 42
Letters of Credit in International Trade 43
International Capital Markets 43
The Emergence of International Capital Markets 44
National Financial Markets 45
The Euromarkets 46
International Equi
About the author
Riad A. Ajami is currently Professor of International Management and Global Strategy at the Raj Soin College of Business at Wright State University, USA. Professor Ajami is the Editor-in-Chief of the Journal of Asia-Pacific Business and Editor-in-Chief of the Haworth International Business Press Series in Asia-Pacific Business. He has appeared on national television and radio, including, among others, Nightline, the PBS News Hour, NBC News, CNN, National Public Radio and CBS Radio.
G. Jason Goddard is Vice President at Wells Fargo Bank, where he has been a commercial lender for over 20 years. He obtained his MBA from the University of North Carolina at Greensboro, USA. Mr. Goddard is currently Adjunct Professor at Wake Forest University and UNC-Greensboro, and is the Associate Editor of the Journal of Asia-Pacific Business, where he has authored numerous articles. Mr. Goddard teaches the investment real estate course at Wake Forest University, USA, and has taught international business and international finance at UNCG and in Ludwigshafen Germany at the University of Applied Sciences.
Summary
This book is designed to be a short primer that introduces students to the primary functional differences that a multinational corporation must consider when conducting business in foreign markets. The book is designed for an 8 week module introductory international business course, or for the general reader requiring information for the differe
