International Business: The New Realities / Edition 2 available in Hardcover
For courses in Business.
International Business: A Millennial Approach
International Business: The New Realities caters to a millennial audience, the most diverse and educated generation to date. The book speaks to readers of the technological age, facing a diverse and evolving economic environment fueled by the Internet and multimedia sources. By addressing issues such as the competitive job market and challenges faced by advanced economies, the text prepares readers for international business in our modern world.
The Fourth Edition plays on millennials’ characteristics to engage them in the material. This includes their reliance on technology, their drive towards achievement and helping their communities, and their desire to obtain skills they can apply towards meaningful jobs. The authors understand what motivates millennial readers and builds on their goals to help them obtain successful careers in international business.
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About the Author
Professor Cavusgil has been mentoring students, executives, and educators in international business for the past four decades. A native of Turkey, his professional work has taken him to numerous other emerging markets.
Tamer serves as Fuller E. Callaway Professorial Chair at Georgia State University’s Robinson College of Business. He is also a visiting professor at: Leeds University Business School, U.K.; University of South Australia; and Xi’an Jiaotong University.
Previously, Tamer served as Senior Fulbright Scholar to Australia and taught at Monash University. Tamer also served as a visiting professor at Manchester Business School, and held the Gianni and Joan Montezemolo Visiting Chairat the University of Cambridge, U.K., where he is also an Honorary Fellow of Sidney Sussex College. At Michigan State University, where he served for 21 years, he was the inaugural holder of the John Byington Chair in Global Marketing and Founding Director of CIBER.
Professor Cavusgil is an elected Fellow of the Academy of International Business, a distinction earned by a select group of intellectual leaders in international business. He also served as Vice President of the AIB, and on the Board of Directors of the American Marketing Association.
Tamer was named International Trade Educator of the Year in 1996 by the National Association of Small Business International Trade Educators (NASBITE). Most recently, he was inducted as Doctor Honoris Causa (Honorary Doctorate) by the Universiteit Hasselt, Belgium, “in recognition of seminal research in, and groundbreaking contributions to the field of international marketing and international business performance.”
Tamer has authored more than two dozen books and some 200 refereed journal articles. His work is among the most cited contributions in international business. He is the founding editor of the Journal of International Marketingand Advances in International Marketing. He serves on the editorial review boards of a dozen professional journals.
Tamer holds a Bachelor of Science degree in business and economics from the Middle East Technical University in Ankara, Turkey. He earned his MBA and PhD degrees in business from the University of Wisconsin.
Professor Gary Knight has been teaching international business for more than 20 years. A native of the United States, he has lived and worked in many countries around the world.
Gary has been Helen Simpson Jackson Chair in International Management at Willamette University since 2012. He is also Visiting Professor at the University of Southern Denmark, Odense. He was professor at Florida State University for 15 years where he directed the school’s International Business Program.
Gary has been an invited speaker at institutions worldwide and developed study abroad programs in Asia, Europe, and Latin America. He has won several awards, including the Jerry Hudson Award for Excellence in Teaching, Willamette University, and Best Teacher in the MBA Program, Florida State University.
Gary has co-authored six books and more than 100 refereed articles in academic journals and conference proceedings. His research emphasizes international business strategy, international services, emerging markets, and internationalization of small- and medium-sized firms.
Gary won the Hans Thorelli Best Paper Award for his article “Entrepreneurship and Strategy: The SME Under Globalization.” Along with S. Tamer Cavusgil, he won the 2014 Decade Award at the Journal of International Business Studies for their article on born global firms.
Gary is ranked in the top five percent of scholars who have published in the Journal of International Business Studies since 1995, based on the number of articles published. He recently was ranked one of the top 10 scholars in the United States, and top 15 worldwide, in international business research impact based on Google Scholar citation data. He is on the editorial review boards of several international journals. He has provided expert testimony on global commerce and small business to the U.S. House of Representatives.
Gary is Chair of the Academy of International Business, Western United States Chapter. Prior to joining academia, he was Export Manager of a medium-sized enterprise, directing the firm’s operations in Canada, Europe, Japan, and Mexico and supervising some 50 distributors. He enjoyed a brief career in banking and as a teacher inJapan.
Gary earned his MBA at the University of Washington and PhD at Michigan State University, both in international business. Earlier degrees were in finance and modern languages. He also attended the University of Paris in France and Sophia University in Japan and is fluent in French, Japanese, and Spanish.
Professor Riesenberger’s teaching activities centered on leadership and global project management at the Thunderbird School of Global Management, Corporate Learning Group. His passion is to help students and young professionals develop the managerial skills frequently required of new graduates entering careers in international business.
John is an accomplished author, consultant, and international executive with senior executive positions in major pharmaceutical firms, biotechnology firms, and pharmaceutical agencies. John’s international business career spans over more than three decades in the global pharmaceutical industry. He has conducted business transactions in twenty-one countries.
Currently, he also serves as the president of Consilium Partners, Inc., a pharmaceutical consulting firm with clients in pharmaceutical, biotechnology, and pharmaceutical agency firms. He worked for 30 years with Pharmacia & Upjohn and The Upjohn Company as a senior international executive. His experience covered a diverse range of divisional, geographic, and functional accountabilities. His most recent position was as Vice President of Global Business Management. He also served as Corporate Vice President and Chief Commercialization Officer for a biotechnology firm and as the Executive Vice President of a pharmaceutical science agency.
John serves as a member of the Board of Directors of the Ontario Institute for Cancer Research.He was a member of the Global Advisory Board of the American Marketing Association. He served as an Executive in Residence at the Michigan State University Center for International Business Education and Research. He served on the Editorial Review Board of the Journal of International Marketing. He served as Chairman of the Industry Advisory Board’s “Value of Marketing Program,” SEI Center for the Advanced Studies in Management at the Wharton School of the University of Pennsylvania. He is the former chairman of the Pharmaceutical Manufacturing Association Marketing Practices Committee. Professor Riesenberger is the coauthor, with Robert T. Moran, of The Global Challenge: Building the New Worldwide Enterprise (McGraw-Hill, London).
John holds a Bachelor of Science degree in Economics—Business and an MBA in Management from Hofstra University. He attended the Harvard Business School’s International Senior Management Program.
Table of Contents
PART I. FOUNDATION CONCEPTS
1. Introduction: What Is International Business?
2. Globalization of Markets and the Internationalization of the Firm
PART II. THE ENVIRONMENT OF INTERNATIONAL BUSINESS
3. The Cultural Environment of International Business
4. Ethics, Corporate Social Responsibility, Sustainability, and Governance in International Business
5. Theories of International Trade and Investment
6. Political and Legal Systems in National Environments
7. Government Intervention and Regional Economic Integration
8. Understanding Emerging Markets
9. The International Monetary and Financial Environment
10. Financial Management and Accounting in the Global Firm
PART III. STRATEGY AND OPPORTUNITY ASSESSMENT
11. Strategy and Organization in the International Firm
12. Global Market Opportunity Assessment
PART IV. ENTERING AND WORKING IN INTERNATIONAL MARKETS
13. Exporting and Global Sourcing
14. Foreign Direct Investment and Collaborative Ventures
15. Licensing, Franchising, and Other Contractual Strategies
PART V. FUNCTIONAL AREA EXCELLENCE
16. Marketing in the Global Firm
17. Human Resource Management in the Global Firm