International Business : Theory and Practice book cover
3rd Edition

International Business
Theory and Practice

ISBN 9780765631343
Published December 30, 2013 by Routledge
464 Pages

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Book Description

The new and updated edition of this widely used text is equally useful for undergraduate and graduate students of international business. Its student-friendly format, detailed coverage of classic and timely topics, and extensive use of case studies make it widely adaptable for different level courses, as well as for educators who prefer either a case study or lecture approach. This edition features new coverage of the Asian financial crisis and the European Union. Its treatment of such topics as foreign exchange, international trade policy, and economic development introduces students to techniques for analysing national economies that are not covered in many competing texts. Ethical and environmental issues are also covered in detail, and all case studies, tables, and figures have been thoroughly revised and updated.

Each chapter includes a short case study, while longer, more complex case studies conclude the text. Each chapter also features learning objectives, discussion questions, and references. An online instructor's guide that includes PowerPoints with end-of-chapter answers and maps is available to instructors who adopt the text.

Table of Contents

1. An Introduction to International Business and Multinational Corporations

Recent Trends in World Trade

Discussion Questions


Mini-Case: Transworld Minerals, Inc.

2. The Nature of International Business

Domestic Versus International Business

Methods of Going International

Recent Trend Patterns and Changes in Global Trade

Government Involvement in Trade Restrictions and Incentives

Regional Trade Groups and Cartels

Non-tariff Barriers to Merchandise Trade


Discussion Questions


Mini-Case: Electronics International, Ltd.

3. Theories of Trade and Economic Development

Introduction to International Trade Theories

More Recent Theories

Modern Theories

Theories of Economic Development

The Global Continuum: Where Nations Fall Today

Patterns of World Development


Discussion Questions


Mini-Case: Euromanage, Inc.

4. International Monetary System and Balance of Payments

International Monetary Terminology

A Brief History of the International Monetary System

The International Monetary Fund (IMF)

Forms of IMF Assistance

IMF Conditionality

Special Drawing Rights

Difficulties in the Bretton Woods System

The Floating Rate Era: 1973 to the Present

European Monetary System

Difficulties in the Floating Rate Era

Issues for Reform


Discussion Questions


Appendix: Balance of Payments

Appendix Discussion Questions

Appendix Bibliography

Mini-Case: Global Bank Corporation

Mini-Case: Scrinton Technologies

5. Foreign Exchange Markets


The Structure of the Foreign Exchange (FX) Markets

Location of Foreign Exchange Markets

Market Volumes

Uses of the Foreign Exchange Market

Types of Exposure in Foreign Exchange Markets

Types of Foreign Exchange Markets

Foreign Exchange Rates

Triangular Arbitrage

Covered Interest Arbitrage

Currency Futures Markets

Foreign Currency Options

Forecasting Foreign Exchange Rates

Special Accounting Problems

Special Issues and Problems in International Taxation


Discussion Questions


Mini-Case: Skytrack Instrumentation

Mini-Case: Chemtech, Inc.

6. Supranational Organizations and International Business


General Agreement on Tariffs and Trade (GATT)

Financial Organizations


Discussion Questions


Mini-Case: Structural Adjustments in Masawa

7. Analyzing National Economies

The Purpose and Methodology of Country Analysis

Preliminary Economic Indicators

Market Demand Forecasting

Areas of Research

Methods of Estimating Market Size and Share

Designing Initial Market Strategy


Discussion Questions


Appendix: A Step By Step Approach to Market Research

Mini-Case: The Republic of Mazuwa

8. International Law and Global Orientations

Public and Private Law

Different Legal Systems

International Treaties Framework

Legal Concepts Relating To International Business

Areas of Concern to Multinational Corporations

Intellectual and Industrial Property Rights

Operational Concerns of Multinational Corporations

Resolving Business Conflicts


Discussion Questions


Mini-Case: Compu-Soft Systems, Inc.

9. Sociocultural Factors

Sociocultural Factors and International Business

Society, Culture, and Sociocultural Forces

Elements of Culture

Other Theories of Culture

Management of Cultural Change


Discussion Questions


Mini-Case: Delis Foods Corporation

Mini-Case: Air America

10. Foreign Investment: Researching Risk

Why Invest Abroad?

Assessing Political Risk

Types of Host National Control

Assessing the Risk

Managing Risk


Discussion Questions


Mini-Case: Amalgamated Polymers, Inc.

11. Ethical Questions: Multinationals and Sustainability

Emerging Environmental Concerns

Social Responsibility of Business

Major Environmental Issues

MNC Responses

MNC Opportunities

Ethical Issues are Now Center Stage


Discussion Questions


Mini-Case: Milford Processes, Inc.

Mini-Case: Alapco Chemicals, Ltd.

12. Future Issues in International Business

Letters of Credit in International Trade

Why Study the Future?

Future Trends Affecting International Business

Impact of Trends on MNCs


Discussion Questions


Mini-Case: Remagen Brothers, Ltd.

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