Absolute Essentials of International Business - Absolute Essentials of International Business -

Philosophy and preliminary concepts Companies and international business MNE configurations International value chains A theoretical discipline rooted in empirical realities The drivers of international business Internal drivers Expanding sales Acquiring inputs External drivers Regulatory frameworks Technology Global competition International finance Bibliography International Business Theories Country-focused trade theories Mercantilism Adam Smith’s absolute advantage Comparative advantage Infant industries Trade and social welfare Factor proportions (Heckscher—Ohlin)Modern business-centred theories Product life cycle New trade theory Competitive advantage Bibliography The Politics of International Business What economic role for government Cycles in economic thinking The future of international business politics International business intervention tools Trade tools Tariffs Non-tariff barriers (NTBs)FDI tools Performance requirements Ownership restrictions Macro-economic policy Subsidies Global governance Intergovernmental organisations Regional associations Bibliography Ethics and International Business The debate over (international) business ethics Ethics vary in time and place The case for and against explicit CSR Anti-CSR Pro-CSR International CSR in practice MNEs’ main ethical dilemmas Human rights Labour relations and supplier controls Corruption Environment International codes of conduct UN conventions Voluntary codes Enforcing CSR worldwide National traditions of CSR enforcement Market policing: non-governmental organisations (NGOs) and consumers Bibliography Cultural Environments Culture and its impact on international business The components of culture Language Religion Socialisation and acculturation Socialisation National, professional, and corporate cultures Theories of culture for international business Hofstede’s cultural dimensions Individualism vs collectivism Power distance Masculine vs feminine Uncertainty avoidance Time orientation Indulgence vs restraint The cluster approach Limitations of these two approaches Optimising assignments abroad Culture shock Managing diverse teams Developing cultural intelligence Bibliography Foreign Market Entry Internationalisation mindsets and strategies Prime theories Trade vs FDI, or the “borders of the firm” debate Horizontal us vertical FDI Market entry choices Greenfield vs brownfield International partnerships International joint ventures Nori-equity arrangements International licensing International franchising Turnkey projects Bibliography Multinational Organisations and Paradigms MNE organisations Traditional divisions Global vs regional focus Transnational firms and glocalisation MNEs as alliances of equals Principles of multinational organisation Strategic coherence Sociology of (multinational) organisations Bibliography International Upstream Operations Knowledge as the first step in production Global supply chain management International outsourcing Types of supply relationships International production Industrial models Logistics and plant location Bibliography International Downstream Operations Analysing a foreign market International market analysis Market Intelligence Systems and big data analytics International marketing framework Standardisation vs adaptation Standardisation Adaptation Striking the right balance Glocalisation Global branding and the associated risks Product Life Cycle International marketing mix Product Place Price Promotion Bibliography Multinational Finance Foreign exchange The concept of exposure Sources of FX exposure Non-transactional FX risks Managing foreign exchange risk “Natural" hedging Short-term financial hedging Multinational treasury External funding Debt finance Equity finance Internal funding sources Netting Transfer pricing and tax implications Bibliography International Talent Management Global trends impacting MNEs’ HRM needs Talent shortages Global talent war Demographics Rise of global hubs and cities Institutions and resources The resource-based view The institution-based view Formal aspects Informal aspects MNEs’ diverse HRM practices Ethnocentric hiring Polycentric hiring Geocentric hiring Global talent management Attracting global talent Developing talent Retaining talent Bibliography The Future of International Business The changing geography of international business New manufacturing powerhouses Selling into the Global South Global South MNEs as new players on the world stage Artificial intelligence’s impact on international business Economic growth Global supply chains Cross-border digital trade Data and trade negotiations Global regulation of Al Al and international business practitioners Bibliography