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7/27/2019 1. Introduction to International Business
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conducts business transactions for goods
& services in only one country
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conducts business transactions for goods
& services across national boundaries
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foundation of world trade
mechanism linking one country to anotherby moving:
raw materials
finished goods
specialized services
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adapt to country differences
face a greater & complex range of problems
work within limits imposed by government
intervention & global trading systems
require converting funds & being susceptibleto fluctuations in currency rates
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improvement in communications technology
improvement in transportation services
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liberalization of trade restrictions
development of support services
increased global competition
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rise in democracy in the world
popular culture
English as an international language
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Profits = profit potential
Customers = new markets
Suppliers = needed raw materials
Capital = financial resources
Labour= lower labour costs
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trade barriers
language barriers
cultural barriers
piracy
differences in businessprocedures & standards
lack of skilled labour
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exchange of goods &
services by different
countries
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measure of economic well-being based on
the ability of people to buy the goods &
services they desire
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shift towards a more
integrated & interdependent
world economy
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Globalization leads to growth
& growth reduces poverty--- Jagdish Bhagwati
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planet is shrinking
outsourcing
anxiety created . . . transitions, layoffs,wage pressures
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stronger need to:
invest in training & upgrading skills
pursue job creation
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country in which an international company
is headquartered
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Philips . . . The Netherlands
BASF . . . Germany
Nestle . . . Switzerland
Sony . . . Japan
Gillette . . . United States
Michelin . . . France
Samsung . . . Korea
Proctor & Gamble . . . USA
Canon . . . Japan
Bayer . . . Germany
Boeing . . . USA
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foreign country inwhich an international
company operates
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someone who has left his/her home
country to live or work abroad, either for a
long period of time or permanently
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Confusion
state of being anxious, uncomfortable
and in need of information & advice
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Small Victories
daily interactions bring somesuccesses
and form an initial confidence in daily
affairs
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Honeymoon
time of wonderment, cultural immersion& infatuation
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Irritation & Anger
time when negatives may overtakepositives & the new culture becomes
a subject of criticism
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Reality
when a rebalance occurs, and one is
able to enjoy the new culture whilerecognizing less desirable elements
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cultural awareness & sensitivity
appreciation & respect for different lifestyles
high international awareness
desire to live &
work abroad
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active encouragement &
support from family, friends &
company
personal adaptability &
flexibility
technical competence in ones
job
leadership ability &
interpersonal skills
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level of sensitivity
experience with diverse backgrounds
ability to view different perspectives
ability to learn new languages
not aggressive compromise
peacekeeping
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maintaining & developing of an
organizations production or market
interests across national borders with either
local or expatriate staff
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process of running a multinational business
body of skills, knowledge & understandingrequired to manage cross-cultural
operations
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preference of an
employer to use its
own workers, both
at home & abroad
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preference of employer to use natives of
the host country to manage operations
there, but home-country residents to
manage home country
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preference of an employer to hire only the
best managers, regardless of their
citizenship
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preference of an
employer to employmanagers from a
variety of countries
in a region
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recruitment, retention & utilization of global
human resources