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Author Cavusgil, S. Tamer, author.

Title International business : the new realities / [S. Tamer] Cavusgil, [Gary A.] Knight, [John R.] Riesenberger, [Hussain G.] Rammal, [Elizabeth L.] Rose.

Published Melbourne, Vic. : Pearson, 2015.
Melbourne, Vic Pearson Australia, 2015.
Ā© 2015

Copies

Location Call No. Status
 UniM Giblin Eunson High Use  658.049 CAVU  TWO HOUR LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  OVERNIGHT LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  TWO HOUR LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  OVERNIGHT LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  OVERNIGHT LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  OVERNIGHT LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  TWO HOUR LOAN  AVAILABLE
 UniM Giblin Eunson High Use  658.049 CAVU  OVERNIGHT LOAN  AVAILABLE
Edition 2nd edition.
Physical description xxiii, 632 pages : colour illustrations, colour maps ; 28 cm.
Series Always Learning
Always learning (Pearson)
Notes Second adaptation edition.
Bibliography Includes bibliographical references and index.
Contents Preface -- PART 1 Foundation concepts -- 1 Introduction - What is international business? -- The key concepts in international trade and investment -- The nature of international trade -- The nature of international investment -- Services as well as products -- The international financial services sector -- How international business differs from domestic business -- The four risks in internationalisation -- Who participates in international business? -- Multinational enterprises -- Small and medium sized enterprises -- GLOBAL TREND - Diesel - A smaller firm's smashing international success -- Non governmental organisations -- Why firms pursue internationalisation strategies -- Why you should study international business -- Facilitator of the global economy and interconnectedness -- Contributor to national economic wellbeing -- A competitive advantage for the firm -- An opportunity for global corporate citizenship -- CLOSING CASE - Welspun Group - Riding the globalisation wave -- 2 Globalisation of markets and the internationalisation of the firm -- Why globalisation is not a new phenomenon -- Phases of globalisation -- An organising framework for market globalisation -- Dimensions of market globalisation -- Integration and interdependence of national economies -- Rise of regional economic integration blocs -- Growth of global investment and financial flows -- Convergence of consumer lifestyles and preferences -- Globalisation of production -- Globalisation of services -- Drivers of market globalisation -- Worldwide reduction of barriers to trade and investment -- Market liberalisation and adoption of free markets -- Industrialisation, economic development and modernisation -- Integration of world financial markets --
A global consensus -- CLOSING CASE - Union Carbide India - The Bhopal disaster -- 6 Theories of international trade and investment -- Theories of international trade and investment -- Why nations trade -- Classical theories -- How nations enhance their competitive advantage - Contemporary theories -- The competitive advantage of nations -- Michael Porter's diamond model -- National industrial policy -- GLOBAL TREND - Repositioning to create national comparative advantage -- Why and how do firms internationalise? -- Internationalisation process of the firm -- Early internationalisation (born globals) and international entrepreneurship -- How firms gain and sustain international competitive advantage -- FDI-based explanations -- Non-FDI-based explanations -- CLOSING CASE - Pumpkin Patch - The internationalisation story of a born global -- 7 Political and legal systems in national environments -- What is country risk? -- How prevalent is country risk? -- What are political and legal systems? -- Types of political systems -- Totalitarianism -- Socialism -- Democracy -- The relationship between political systems and economic systems -- Command economy -- Market economy -- Mixed economy -- Types of legal systems -- Common law -- Civil law -- Religious law -- Mixed systems -- Participants in political and legal systems -- Government -- International organisations -- Regional economic blocs -- Special interest groups -- Competing firms -- Types of country risk produced by the political system -- Government takeover of corporate assets -- Sanctions and embargoes -- Boycotts against firms or nations -- War, insurrection and revolution -- Terrorism -- Types of country risk produced by the legal system --
Advances in technology -- Technological advances as a driver of market globalisation -- Information technology -- Communications -- Manufacturing -- Transportation -- GLOBAL TREND - Globalisation and e-business in the online world -- Contagion - Rapid spread of monetary or financial crises -- Societal consequences of market globalisation -- Loss of national sovereignty -- Offshoring and the flight of jobs -- Effect on the poor -- Effect on the natural environment -- Effect on national culture -- Globalisation and Africa -- Firm-level consequences of market globalisation - Internationalisation of the firm's value chain -- CLOSING CASE - The emergence of Emirates as a global airline -- 3 Organisational participants that make international business happen -- Three types of participants in international business -- Participants organised by value-chain activity -- An illustration of an international value chain - Dell -- Focal firms in international business -- The multinational enterprise -- Small and medium sized enterprises -- Born global or early internationalising firms -- Foreign-market-entry strategies of focal firms -- A framework for classifying market-entry strategies -- Focal firms otherthan MNEs and SMEs -- Distribution channel intermediaries in international business -- Intermediaries based in the foreign market -- Intermediaries based in the, home country -- Online intermediaries -- Facilitators in international business -- GLOBAL TREND - Online retailers surge ahead -- CLOSING CASE - Alibaba.com -- 4 The cultural environment of international business -- The challenge of crossing cultural boundaries -- The meaning of culture - Foundation concepts -- Why culture matters in international business --
An overview of foreign-market-entry strategies -- The internationalisation of the firm -- Diverse motives for pursuing internationalisation -- Characteristics of firm internationalisation -- Exporting as a foreign-market-entry strategy -- Exporting - A popular entry strategy -- Service sector exports -- Advantages of exporting -- Disadvantages of exporting -- GLOBAL TREND - The emergence of SME exporters -- A systematic approach to exporting -- Importing -- Managing export-import transactions -- Documentation -- International logistics and IncotermsĀ® -- Methods of payment in exporting and importing -- Cash in advance -- Letter of credit -- Open account -- Consignment sales -- Cost and sources of export-import financing -- Commercial banks -- Factoring, forfaiting and confirming -- Distribution channel intermediaries -- Buyers and suppliers -- Intra-corporate financing -- Government assistance programs -- Multilateral development banks (MDBs) -- Identifying and working with foreign intermediaries -- Working with foreign intermediaries -- When intermediary relations go bad -- Countertrade -- The magnitude and drivers of countertrade -- Types of countertrade -- Risks of countertrade -- Why countertrade? -- CLOSING CASE - Kangaroo Island Pure Grain - Agricultural exports to Asia -- 15 Foreign direct investment and collaborative ventures -- Foreign direct investment -- Trends in foreign direct investment and collaborative ventures -- Motives for foreign direct investment and collaborative ventures -- Market-seeking motives -- Resource- or asset-seeking motives -- Efficiency-seeking motives -- Characteristics of foreign direct investment -- Key features of foreign direct investment --
Country risk arising from the host country legal environment -- Country risk arising from the home country legal environment -- GLOBAL TREND - E-commerce and the international legal environment -- Managing country risk -- Proactive environmental scanning -- Strict adherence to ethical standards -- Alliances with qualified local partners -- Protection through legal contracts -- CLOSING CASE - Singaporean good governance, prosperity and future challenges -- 8 Government intervention in international business -- Government intervention in international business -- The rationale for government intervention -- Defensive rationale -- Offensive rationale -- Instruments of government intervention -- Tariffs -- Non-tariff trade barriers -- Investment barriers -- Subsidies and other government support programs -- Emerging markets and ethical concerns in government intervention -- The evolution of government intervention -- GLOBAL TREND - The World Trade Organization and the collapse of the Doha Round -- Intervention and the global financial crisis -- How firms can respond to government intervention -- CLOSING CASE - South Korean industry policy and economic modernisation -- 9 Regional economic integration -- Regional integration and economic blocs -- Types of regional integration -- Leading economic blocs -- The European Union (EU) -- European Free Trade Association (EFTA) -- North American Free Trade Agreement (NAFTA) -- El Mercado Comun del Sur (MERCOSUR) -- Caribbean Community and Common Market (CARICOM) -- Comunidad Andina de Naciones (CAN ) -- Association of Southeast Asian Nations (ASEAN) -- Asia Pacific Economic Cooperation (APEC) -- South Asian Association for Regional Cooperation (SMRC) --
Economic integration in the Middle East and Africa -- GLOBAL TREND - Integration in Asia -- Australia's free trade agreements -- Why countries pursue regional integration -- Drawbacks and ethical dilemmas of regional integration -- Trade diversion -- Reduced global free trade -- Loss of national identity -- Sacrifice of autonomy -- Transfer of power to advantaged firms -- Failure of small or weak firms -- Corporate restructuring and job loss -- Management implications of regional integration -- Internationalisation by firms inside the economic bloc -- Rationalisation of operations -- Mergers and acquisitions -- Regional products and marketing strategy -- Internationalisation by firms from outside the bloc -- Collaborative ventures -- CLOSING CASE - Russell Brands - Choosing between global and regional free trade -- 10 Understanding emerging markets -- Advanced economies, developing economies and emerging markets -- Advanced economies -- Developing economies 2 -- Emerging market economies -- GLOBAL TREND - China's evolving challenges and opportunities -- The attraction of emerging markets in international business -- Emerging markets as manufacturing bases -- Emerging markets as sourcing destinations -- Assessing the true potential of emerging markets -- Per capita income as an indicator of market potential -- The middle class as an indicator of market potential -- Risks and challenges of emerging markets -- Political instability -- Weak intellectual property protection -- Bureaucracy, red tape and lack of transparency -- Partner availability and qualifications -- Dominance of family conglomerates -- Strategies for emerging markets -- Customise offerings to unique emerging market needs --
Foreign direct investment and corporate social responsibility -- Most active firms in foreign direct investment -- Service firms and foreign direct investment -- Leading destinations for foreign direct investment -- Factors to consider in selecting FDI locations -- Types of foreign direct investment -- Greenfield investment versus mergers and acquisitions -- The nature of ownership in foreign direct investment -- Vertical versus horizontal integration -- International collaborative ventures -- GLOBAL TREND - Foreign direct investment in the global recession -- Equity Joint ventures -- Project-based, non-equity ventures -- Equity ventures versus project-based, non-equity ventures -- Consortium -- Cross-licensing agreements -- Managing collaborative ventures -- Understand potential risks in collaboration -- Pursue a systematic process for partnering -- Ensure success with collaborative ventures -- The experience of retailers in foreign markets -- Challenges of international retailing -- International retailing success factors -- CLOSING CASE - Foreign direct investment in China - A case study from the Yangtze Delta Basin -- 16 Licensing, franchising and other contractual strategies -- Contractual entry strategies -- Unique aspects of contractual relationships -- Types of intellectual property -- Licencing as an entry strategy -- Trademark and copyright licensing -- Know-how licensing -- Which are the top licensing firms? -- Advantages and disadvantages of licensing -- Advantages of licensing -- Disadvantages of licensing -- Franchising as an entry strategy -- GLOBAL TREND - Internationalisation of franchising - Emerging markets -- Who are the top global franchisors? -- Advantages and disadvantages of franchising --
National, professional and corporate culture -- Corporate culture -- Professional culture -- Interpretations of culture -- Cultural metaphors -- Stereotypes -- Idioms -- Hall's high and low context cultures -- Hofstede's research on national culture -- Key dimensions of culture -- Values and attitudes -- Deal versus relationship orientation -- Manners and customs -- Perceptions of time -- Perceptions of space -- Religion -- Symbolic productions -- Material productions and creative expressions of culture -- Language as a key dimension of culture -- Cross cultural communication and international business negotiations -- Culture and contemporary issues -- Culture and the services sector -- Technology, the internet and culture -- Globalisation's effect on culture - Are cultures converging? -- Managerial guidelines for cross-cultural success -- GLOBAL TREND - Minimising cross-cultural bias with critical incident analysis -- CLOSING CASE - Hollywood's influence on global culture -- PART 2 The environment of international business -- 5 Ethics and international business -- Corruption in international business -- Ethics in international business -- The value of ethical behaviour -- Global variation in ethical standards -- Approaches to ethics and social responsibility -- The Friedman doctrine ( stockholder theory) -- Utilitarian ethics -- The human rights approach -- Rawls' justice theory -- An ethical dilemma? -- Linking ethics, corruption and responsible behaviour -- Corporate social responsibility (CSR) abroad -- The value of CSR -- Sustainability's role in international operations -- GLOBAL TREND - Global corporate social responsibility rises to the top of the MNE agenda -- A framework for making ethical decisions -- Embracing CSR and sustainability --
PART5 Functional area excellence -- 18 Marketing in the global firm -- Global marketing strategy -- Targeting customer segments and positioning -- Standardisation and adaptation of the international marketing program -- Standardisation -- Adaptation -- Standardisation and adaptation - A balancing act -- Global branding and product development -- Global branding -- Global product development -- International pricing -- GLOBAL TREND - The growing role for marketing in developing economies -- Factors affecting international pricing -- A framework for setting international prices -- Managing international price escalation -- Managing pricing under varying currency conditions -- Transfer pricing -- Grey market activity (parallel imports) -- International marketing communications -- International advertising -- International promotional activities -- Global account management -- International distribution -- CLOSING CASE - MTV India - Balancing global and local marketing -- 19 Human resource management in the global firm -- The strategic role of human resources in international business -- Three employee categories -- Differences between domestic and international HRM -- Key tasks in international human resource management -- International staffing policy -- Searching for talent -- Expatriate failure and culture shock -- Preparation and training of personnel -- Preparing employees for repatriation -- Cultivating global mindsets -- Charting global careers for employees -- International performance appraisal -- Compensation of personnel -- International labour relations -- Distinctive features of labour around the world -- The cost and quality of labour -- Workforce reduction --
Partner with family conglomerates -- Market to governments in emerging markets -- Skilfully challenge emerging market competitors -- Emerging markets, developing economies and corporate social responsibility -- Foster economic development with profitable projects -- Microfinance to facilitate entrepreneurship -- The special case of Africa -- CLOSING CASE - Astra International - Building successful international business around fluxing national government policy -- 11 The international monetary and financial environment -- Currencies and exchange rates in international business -- Convertible and non-convertible currencies -- Foreign exchange markets -- Exchange rates are in constant flux -- How exchange rates are determined -- Economic growth -- Interest rates and inflation -- Market psychology -- Government action -- Development of the modern exchange rate system -- The exchange rate system today -- The international monetary and financial systems -- International monetary system -- Global financial system -- Key players in the monetary and financial systems -- The firm -- National stock exchanges and bondmarkets -- GLOBAL TREND - Global financial crisis -- Commercial banks -- Central banks -- Bank for International Settlements -- International Monetary Fund -- World Bank -- CLOSING CASE - AIG and global financial contagion -- PART 3 Strategy and opportunity assessment -- 12 Strategy and organisation in the international firm -- Strategy in international business -- Building the global firm -- Visionary leadership -- Organisational culture -- Organisational processes -- The distinction between multi-domestic and global industries -- The integration-responsiveness framework --
Pressures for local responsiveness -- Pressures for global integration -- Strategies based on the integration-responsiveness framework -- Organisational structure -- Centralised or decentralised structure? -- Organisational structures for international operations -- Export department -- International division structure -- Geographical area division (decentralised structure) -- Product structure (centralised structure) -- Functional structure (centralised structure) -- Global matrix structure -- Putting organisational change in motion -- CLOSING CASE - Lenovo - The global challenger from an emerging market -- 13 Global market opportunity assessment -- Global market opportunity assessment -- Analysing organisational readiness to internationalise -- Assessing the suitability of products and services for foreign markets -- Factors contributing to product suitability for international markets -- Key issues to resolve in measuring product potential -- Screening countries to identify target markets -- Screening countries for exporting -- Screening methodology for potential country markets -- GLOBAL TREND - Global macro trends that affect international business -- Country screening for foreign direct investment -- Country screening for sourcing -- Assessing industry market potential -- Practical methods for assessing industry market potential -- Data sources for estimating industry market potential -- Selecting foreign business partners -- Criteria for choosing a partner -- Searching for prospective partners -- Estimating company sales potential -- Determinants of company sales potential -- Practical approaches to estimating company sales potential -- Conclusion -- CLOSING CASE - Breaking the Ice? Icebreaker considers expansion into China -- PART 4 Entering and operating in international markets -- 14 Exporting and countertrade --
The franchisor perspective -- The franchisee perspective -- Managerial guidelines for licensing and franchising -- Other contractual entry strategies -- Turnkey contracting -- Build-operate-transfer arrangements (BOT) -- Management contracts -- Leasing -- The special case of internationalisation by professional service firms -- Guidelines for protecting intellectual property -- CLOSING CASE - Subway and the challenges of franchising in China -- 17 Global sourcing -- Trends towards outsourcing, global sourcing and offshoring -- Decision 1 - Outsource or not? -- Decision 2 - Where in the world should value-adding activities be located? -- Global sourcing from subsidiaries versus independent suppliers -- Contract manufacturing - Global sourcing from independent suppliers -- Offshoring -- Limits to global sourcing -- Strategic implications of outsourcing and global sourcing -- Evolution of global sourcing -- Phases in the evolution - From global sourcing of inputs to offshoring value-adding activities -- Diversity of countries that initiate and receive outsourced work -- Benefits and challenges of global sourcing for the firm -- Cost efficiency -- Achievement of strategic goals -- GLOBAL TREND - China and India - Chief rivals in the global sourcing game -- Implementing global sourcing through supply-chain management -- Logistics and transportation -- Transportation modes -- Risks in global sourcing -- Strategies for minimising risk in global sourcing -- Implications of global sourcing for public policy and global citizenship -- Potential harm to economies from global sourcing -- Ethical and social implications of global sourcing -- Potential benefits to national economy -- Public policy towards global sourcing -- CLOSING CASE - Boeing 787 - A story of outsourcing --
Trends in international labour -- Firm strategy in international labour relations -- GLOBAL TREND - Global corporate citizenship in international human resource management -- Diversity in the international workforce -- Women in international business -- Success strategies for women managers in international business -- CLOSING CASE - Evolving human resource challenges at Sony -- 20 Financial management and accounting in the global firm -- Primary tasks in international financial management -- Task one - Decide on the capital structure -- Task two - Raise funds for the firm -- Financial centres -- Sources of funds for international operations -- Equity financing -- Debt financing -- GLOBAL TREND - Emerging markets as international investment destinations -- Intra-corporate financing -- Task three - Manage working capital and cash flow -- Methods for transferring funds within the MNE -- Multilateral netting -- Task four - Manage capital budgeting -- Net present value analysis of capital investment projects -- Task five - Manage currency risk -- Three types of currency exposure -- Foreign exchange trading -- Types of currency traders -- Exchange rate forecasting -- Management of exposure to currency risk through hedging -- Best practice in minimising currency exposure -- Task six - Manage the diversity of international accounting and tax practices -- Transparency in financial reporting -- Trends towards harmonisation -- Consolidating the financial statements of subsidiaries -- International taxation -- CLOSING CASE - Mergers, acquisitions and nationalisation - The banking sector in Pakistan -- Glossary -- Index.
Summary The accelerating cross-border flow of products, services, capital, ideas, technology and people is driving businesses--large and small--to internationalise. International Business 2nd Australasian edition: the New Realities is a rigorous resource which prepares future managers to operate successfully in multinational settings. Case studies from a wide variety of markets relevant to Australasian business, including ASEAN countries as well as China, India, Japan, South Korea, Pakistan, Europe and the Middle East, provide a real-world perspective to theories and examine the latest trends in international business. The second edition of International Business features 10 new in-depth case studies specially created for this edition. For undergraduate students majoring in international business or post-graduate courses in international business.
Processing Action Textbook BUSS 2067 2015
Other author Knight, Gary A., author.
Riesenberger, John R., author.
Rammal, Hussain G., author.
Rose, Elizabeth L., author.
Subject Business education -- Textbooks.
International business enterprises.
International business enterprises -- Management.
Business education -- Textbook.
Australian
ISBN 9781486011049 : $134.95