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SECTION 1

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The Nature of International Business

section one

coming
T
he world we share is becoming increasingly interconnected in complex and interesting ways. Section One describes the nature and scope of international business and introduces the three environments in which international business managers must operate. How well they perform in their undertakings depends in great measure on their understanding of domestic, international, and foreign environments. Chapter 1 discusses what international business is and also presents the concepts of the three environments and their forces. From the history of international business, we learn that international firms have been in existence for centuries, but that present-day global companies–characterized by explosive growth and closer central control of foreign operations–are markedly different from their predecessors. We discuss what is driving globalization of business and why firms go abroad, and examine the debate about pros and cons of globalization of business. We also examine the seven dimensions along which managers can globalize if they take their companies international. In Chapter 2, information is presented to help you comprehend the dynamic growth and the magnitude of both international trade and foreign investment. We also provide an overview of the major theories of international trade and investment. A basic understanding of this material will help explain the actions already taken by managers and by government officials and provide insight into what they plan to do in the future. Chapter 3 discusses institutions that operate in the international environment and that may affect international businesses in fundamental ways. International institutions can be both a help and a hindrance to businesses, and the international institutions and agreements discussed in this chapter are organizations of governments, along with some private organizations, whose main purpose is political, economic, or a combination of the two. Some of these organizations have large amounts of power (such as the European Union), and others have less power, but all are important to business. ■ CHAPTER 1 | The Challenging World of International Business 3

THE NATURE OF INTERNATIONAL BUSINESS
section one
THE NATURE OF INTERNATIONAL BUSINESS
ch. 1 The Challenging World of International Business ch. 2 International Trade and Investment ch. 3 International Institutions from an International Business Perspective

section two
INTERNATIONAL ENVORONMENTAL FORCES

section three
THE ORGANIZATIONAL ENVIRONMENT

the challenging world of

international business

In the past, complex international transactions were the domain of diplomats and international policy and business experts. Today a converging set of powerful economic, technological, demographic and geopolitical trends will demand that all citizens, not just the elite, have that kind of global fluency. Knowledge of the world is no longer a luxury, it is a necessity.” —Nicholas Platt, president emeritus of the Asia Society

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SECTION 1

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The Nature of International Business

T

o think about how you are involved in the global economy, think back to how you began your

JanSport backpacks, put on their North Face jackets and Oakley sunglasses, and turn on their iPods.

own day. After you awoke, you may have looked at your Casio watch for the time, checked your Samsung cell phone for messages, and turned on your Toshiba TV for the news and weather while you showered. After drying your hair with a Conair dryer, maybe you slipped into some Diesel jeans, quickly swallowed some Dannon yogurt and a glass of Mott’s apple juice, brushed your teeth with Close-Up toothpaste, and drove off to class in your Honda with its Firestone tires and a tank full of Shell gasoline. Meanwhile, on the other side of the world, a group of Nike-clad Japanese students may be turning off their H-P computers after...
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