(Ebook) Global Business Today 5th edition by Charles Hill 0073210544‎ 978-0073210544

(Ebook) Global Business Today 5th edition by Charles Hill 0073210544‎ 978-0073210544

Global Business Today 5th edition by Charles W. L. Hill - Ebook PDF Instant Download/DeliveryISBN:  0073210544‎, 978-0073210544 

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ISBN-10 ‏ : ‎ 0073210544

ISBN-13 ‏ : ‎ 978-0073210544

Author:   Charles W. L. Hill 

Charles Hill's Global Business Today, 5e (GBT) has become an established text in the International Business market for several key reasons: (1) it is comprehensive and up-to-date, (2) it goes beyond an uncritical presentation and shallow explanation of the body of knowledge, (3) it maintains a tight, integrated flow between chapters, (4) it focuses on managerial implications, (5) it makes important theories accessible and interesting to students, and (6) it incorporates ancillary resources that enliven the text and make it easier to teach. The success of the first four editions of Global Business Today has been based in part upon the incorporation of leading edge research into the text, the use of the up-to-date examples and statistics to illustrate global trends and enterprise strategy, and the discussion of current events within the context of the appropriate theory. Notable additions to the 5th Edition include: * Chapter 5 has been updated to discuss progress on the current round of talks sponsored by the WTO aimed at reducing barriers to trade, particularly in agriculture (the Doha Round). * Chapter 6 now discusses the slump in foreign direct investment flows that took place in 2001-2004. * The section on the European Union in Chapter 8 has been revised to reflect the fact that ten more member states were admitted on May 1st, 2004. Our research has shown that students and instructors alike enjoy the interesting, informative, and accessible writing style of GBT - so much so that the writing has become Charles Hill's trademark. In addition to boxed material which provides deep illustrations in every chapter, Hill carefully weaves interesting anecdotes into the narrative of the text to engage the reader.

Global Business Today 5th Table of contents:

PART ONE     
Introduction and Overview?2
Chapter One    Globalization?3
Opening Case: IKEA?The Global Retailer?3
Introduction?4
What Is Globalization??7
The Globalization of Markets?7
The Globalization of Production?8
The Emergence of Global Institutions?9
Drivers of Globalization?11
Declining Trade and Investment Barriers?11
The Role of Technological Change?14
The Changing Demographics of the Global Economy?18
The Changing World Output and World Trade Picture?18
The Changing Foreign Direct Investment Picture?19
The Changing Nature of the Multinational Enterprise?21
The Changing World Order?23
The Global Economy of the Twenty-First Century?25
The Globalization Debate?26
Antiglobalization Protests?26
Globalization, Jobs, and Income?27
Globalization, Labor Policies, and the Environment?30
Globalization and National Sovereignty?32
Globalization and the World?s Poor?32
Managing in the Global Marketplace?34
Key Terms?36
Summary?36
Critical Thinking and Discussion Questions?37
Research Task?38
Closing Case: The Globalization of Health Care?38
PART TWO    Country Differences?40
Chapter Two     
National Differences in Political Economy?41
Opening Case: Chavez?s Venezuela?41
Introduction?42
Political Systems?43
Collectivism and Individualism?43
Democracy and Totalitarianism?46
Economic Systems?48
Market Economy?48
Command Economy?49
Mixed Economy?50
Legal Systems?50
Different Legal Systems?50
Differences in Contract Law?52
Property Rights and Corruption?52
The Protection of Intellectual Property?56
Product Safety and Product Liability?58
The Determinants of Economic Development?59
Differences in Economic Development?59
Broader Conceptions of Development: Amartya Sen?61
Political Economy and Economic Progress?64
Geography, Education, and Economic Development?68
States in Transition?69
The Spread of Democracy?69
The New World Order and Global Terrorism?71
The Spread of Market-Based Systems?72
The Nature of Economic Transformation?73
Implications of Changing Political Economy?77
Focus on Managerial Implications?78
Key Terms?82
Summary?82
Critical Thinking and Discussion Questions?83
Research Task?84
Closing Case: Indonesia?The Troubled Giant?84
Chapter Three    Differences in Culture?87
Opening Case: DMG-Shanghai?87
Introduction?88
What Is Culture??89
Values and Norms?90
Culture, Society, and the Nation-State?91
The Determinants of Culture?92
Social Structure?93
Individuals and Groups?93
Social Stratification?95
Religious and Ethical Systems?98
Christianity?98
Islam?100
Hinduism?104
Buddhism?106
Confucianism?106
Language?108
Spoken Language?108
Unspoken Language?109
Education?109
Culture and the Workplace?110
Cultural Change?113
Focus on Managerial Implications?115
Key Terms?119
Summary?119
Critical Thinking and Discussion Questions?120
Research Task?120
Closing Case: Matsushita?s Culture Changes with Japan?120
Chapter Four     
Ethics in International Business?123
Opening Case: Oil for Bribes?123
Introduction?124
Ethical Issues in International Business?125
Employment Practices?125
Human Rights?126
Environmental Pollution?128
Corruption?129
Moral Obligations?131
Ethical Dilemmas?133
The Roots of Unethical Behavior?134
Personal Ethics?134
Decision-Making Processes?135
Organization Culture?135
Unrealistic Performance Expectations?136
Leadership?136
Philosophical Approaches to Ethics?138
Straw Men?138
Utilitarian and Kantian Ethics?141
Rights Theories?142
Justice Theories?143
Focus on Managerial Implications?144
Key Terms?150
Summary?150
Critical Thinking and Discussion Questions?151
Research Task?152
Closing Case: Mired in Corruption?Kellogg, Brown and Root in Nigeria?152
PART THREE     
Cross-Border Trade and Investment?154
Chapter Five     
International Trade Theory?155
Opening Case: International Trade in Information Technology and U.S. Economic 
Growth?155
Introduction?156
An Overview of Free Trade?157
The Benefits of Trade?157
The Pattern of International Trade?158
Trade Theory and Government Policy?159
Mercantilism?159
Absolute Advantage?161
Comparative Advantage?162
The Gains from Trade?164
Qualifications and Assumptions?165
Extensions of the Ricardian Model?166
Heckscher-Ohlin Theory?170
The Leontief Paradox?171
The Product Life-Cycle Theory?172
Evaluating the Product Life-Cycle Theory?173
New Trade Theory?175
Increasing Product Variety and Reducing Costs?175
Economies of Scale, First-Mover Advantages, and the Pattern of Trade?176
Implications of New Trade Theory?177
National Competitive Advantage: Porter?s Diamond?178
Factor Endowments?179
Demand Conditions?180
Related and Supported Industries?180
Firm Strategy, Structure, and Rivalry?181
Evaluating Porter?s Theory?181
Focus on Managerial Implications?183
Key Terms?185
Summary?186
Critical Thinking and Discussion Questions?187
Research Task?187
Closing Case: Logitech?188
Chapter Six     
The Political Economy of International Trade?191
Opening Case: Boeing, Airbus, and the World Trade Organization?191
Introduction?192
Instruments of Trade Policy?194
Tariffs?194
Subsidies?195
Import Quotas and Voluntary Export Restraints?196
Local Content Requirements?198
Administrative Policies?198
Antidumping Duties?199
The Case for Government Intervention?200
Political Arguments for Intervention?201
Economic Arguments for Intervention?204
The Revised Case for Free Trade?207
Retaliation and Trade War?207
Domestic Policies?208
Development of the World Trading System?208
From Smith to the Great Depression?208
1947?1979: GATT, Trade Liberalization, and Economic Growth?209
1980?1993: Protectionist Trends?210
The Uruguay Round and the World Trade Organization?210
WTO: Experience to Date?212
The Future of the WTO: Unresolved Issues and the Doha Round?215
Focus on Managerial Implications?220
Key Terms?222
Summary?223
Critical Thinking and Discussion Questions?224
Research Task?224
Closing Case: Trade in Textiles?Holding the Chinese Juggernaut in Check?224
Chapter Seven     
Foreign Direct Investment?227
Opening Case: Starbucks? Foreign Direct Investment?227
Introduction?229
Foreign Direct Investment in the World Economy?229
Trends in FDI?229
The Direction of FDI?230
The Source of FDI?233
The Form of FDI: Acquisitions versus Greenfield Investments?234
The Shift to Services?235
Theories of Foreign Direct Investment?235
Why Foreign Direct Investment??236
The Pattern of Foreign Direct Investment?238
The Eclectic Paradigm?239
Political Ideology and Foreign Direct Investment?241
The Radical View?241
The Free Market View?242
Pragmatic Nationalism?242
Shifting Ideology?243
Benefits and Costs of FDI?244
Host-Country Benefits?245
Host-Country Costs?248
Home-Country Benefits?249
Home-Country Costs?249
International Trade Theory and FDI?250
Government Policy Instruments and FDI?250
Home-Country Policies?250
Host-Country Policies?251
International Institutions and the Liberalization of FDI?253
Focus on Managerial Implications?254
Key Terms?256
Summary?257
Critical Thinking and Discussion Questions?257
Research Task?258
Closing Case: Cemex?s Foreign Direct Investment?258
Chapter Eight     
Regional Economic Integration?261
Opening Case: NAFTA and the U.S. Textile Industry?261
Introduction?262
Levels of Economic Integration?264
The Case for Regional Integration?265
The Economic Case for Integration?265
The Political Case for Integration?266
Impediments to Integration?267
The Case against Regional Integration?267
Regional Economic Integration in Europe?268
Evolution of the European Union?268
Political Structure of the European Union?269
The Single European Act?272
The Establishment of the Euro?274
Enlargement of the European Union?277
Regional Economic Integration in the Americas?278
The North American Free Trade Agreement?279
The Andean Community?282
MERCOSUR?282
Central American Common Market, CAFTA, and CARICOM?283
Free Trade Area of the Americas?284
Regional Economic Integration Elsewhere?285
Association of Southeast Asian Nations?285
Asia-Pacific Economic Cooperation?285
Regional Trade Blocs in Africa?287
Focus on Managerial Implications?288
Key Terms?290
Summary?290
Critical Thinking and Discussion Questions?291
Research Task?292
Closing Case: Car Price Differentials in the European Union?292
PART FOUR     
Global Money System?294
Chapter Nine     
The Foreign Exchange Market?295
Opening Case: The Curse of the Strong Dollar at STMicro?295
Introduction?296
The Functions of the Foreign Exchange Market?297
Currency Conversion?297
Insuring against Foreign Exchange Risk?299
The Nature of the Foreign Exchange Market?302
Economic Theories of Exchange Rate Determination?303
Prices and Exchange Rates?304
Interest Rates and Exchange Rates?310
Investor Psychology and Bandwagon Effects?311
Summary?311
Exchange Rate Forecasting?313
The Efficient Market School?313
The Inefficient Market School?314
Approaches to Forecasting?314
Currency Convertibility?315
Focus on Managerial Implications?317
Key Terms?320
Summary?321
Critical Thinking and Discussion Questions?322
Research Task?322
Closing Case: The Rising Euro Hammers Auto Parts Manufacturers?323
Chapter Ten     
The International Monetary System?325
Opening Case: China?s Managed Float?325
Introduction?326
The Gold Standard?328
Mechanics of the Gold Standard?328
Strength of the Gold Standard?328
The Period between the Wars: 1918?1939?329
The Bretton Woods System?330
The Role of the IMF?331
The Role of the World Bank?332
The Collapse of the Fixed Exchange Rate System?332
The Floating Exchange Rate Regime?334
The Jamaica Agreement?334
Exchange Rates since 1973?334
Fixed versus Floating Exchange Rates?337
The Case for Floating Exchange Rates?337
The Case for Fixed Exchange Rates?338
Who Is Right??339
Exchange Rate Regimes in Practice?339
Pegged Exchange Rates?340
Currency Boards?341
Crisis Management by the IMF?341
Financial Crises in the Post?Bretton 
Woods Era?342
Mexican Currency Crisis of 1995?343
The Asian Crisis?344
Evaluating the IMF?s Policy Prescriptions?348
Focus on Managerial Implications?352
Key Terms?354
Summary?354
Critical Thinking and Discussion Questions?355
Research Task?356
Closing Case: Recycling Petrodollars?356
PART FIVE     
Competing in the Global Marketplace?358
Chapter Eleven     
The Strategy of International Business?359
Opening Case: MTV?s Global Strategy?359
Introduction?361
Strategy and the Firm?361
Value Creation?362
Strategic Positioning?363
Operations: The Firm as a Value Chain?365
Organization: The Implementation of Strategy?367
In Sum: Strategic Fit?369
Global Expansion, Profitability, and Profit Growth?370
Expanding the Market: Leveraging Products and Competencies?370
Location Economies?371
Experience Effects?373
Leveraging Subsidiary Skills?376
Summary?377
Cost Pressures and Pressures for Local Responsiveness?377
Pressures for Cost Reductions?378
Pressures for Local Responsiveness?378
Choosing a Strategy?381
Global Standardization Strategy?381
Localization Strategy?382
Transnational Strategy?383
International Strategy?384
The Evolution of Strategy?385
Strategic Alliances?387
The Advantages of Strategic Alliances?387
The Disadvantages of Strategic Alliances?388
Making Alliances Work?389
Key Terms?392
Summary?392
Critical Thinking and Discussion Questions?393
Research Task?394
Closing Case: Wal-Mart?s Global Expansion?394
Chapter Twelve     
Entering Foreign Markets?397
Opening Case: JCB in India?397
Introduction?398
Basic Entry Decisions?399
Which Foreign Markets??399
Timing of Entry?400
Scale of Entry and Strategic Commitments?401
Summary?403
Entry Modes?405
Exporting?405
Turnkey Projects?406
Licensing?407
Franchising?408
Joint Ventures?409
Wholly Owned Subsidiaries?411
Selecting an Entry Mode?412
Core Competencies and Entry Mode?412
Pressures for Cost Reductions and Entry Mode?413
Greenfield venture versus Acquisition?414
Pros and Cons of Acquisitions?414
Pros and Cons of Greenfield Ventures?417
Greenfield or Acquisition??417
Key Terms?418
Summary?418
Critical Thinking and Discussion Questions?419
Research Task?420
Closing Case: Tesco Goes Global?420

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