The formation of "multinational" and "transnational" companies, coupled with the accelerating pace of technology, has changed the way the world practices business. International Business and Trade: Theory, Practice, and Policy addresses the challenges that face large, worldwide businesses today and in the 21st century. This textbook introduces business executives and students to current issues and practices in international business. It analyzes the conceptual nature and operational aspects of multinational enterprise and international trade practices.
The book is divided into three parts, each addressing a specific area of international business. The first part discusses the theoretical framework of global commerce, monetary systems, and financial environments. The specifics of international business operations-from legal environments to international trade and foreign investments-are covered in Part II.
Part III concentrates on government policies and practices, covering the role of national and international organizations in impacting trade and investments.
International Business Theories and Concepts
Introduction: Corporate Challenges
Philosophies of Business and Economic Behavior
International Business Operations
The Monetary System
The Balance of Payments
Foreign Exchange and Its Management
International Trade and Business Operations
International Trade Practices: The Parties
Legal Environment of International Business
Product Warranty and Liability Issues
Protection of International Assets
International Trade Logistics
Financing Trade: I. The Banking System
Financing Trade: II. Payments and Collections
International Letters of Credit
Foreign Manufacturing and Assembly
International Licensing and Franchising
Policy and Institutions
U.S. Taxation and Related Programs
U.S. Trade and Investment Support Organizations
Glossary: Abbreviations and Acronyms
Each chapter includes Summary and Conclusions, Appendix, Chapter Glossary, and Questions & Answers.