International Business

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Discussion Questions for Test/Final
Actual test questions will be similar to the questions given below. Mix and matching of
questions from different chapters are possible. For updated/latest questions check
Blackboard and the PowerPoints. You may also get questions from the videos. Make sure
to watch ALL VIDEOS before taking the test.
Chapter 1: Globalization and International Business
1. Define globalization and explain the forces driving globalization.
2. Define globalization and explain the cost and future of globalization.
3. What is global governance? Explain the role of each institution in Global
Governance.
4. What is Globalization Index? Explain the construct and methodology in
evaluating the countries.
Chapter 2: The Cultural Environments Facing Business
1. Define culture? Why an international business manager should study the culture
of a country?
2. Explain how the dynamic interplay of nation, language and religion shapes the
culture of a country.
3. Explain the six behavioral practices that affect the business in a country. I may
ask you to explain any two or three of them.
4. How can we deal with, adapt to, and influence foreign cultures? Explain.
5. Explain the five cultural values of Hofstede. I may ask you to explain any two or
three of them also.
Chapter 3: The Political and Legal Environments Facing Business
1. Define political system and explain why a business manager should study the
political system of a country.
2. How does democracy differ from totalitarianism? Will the conduct of business be
different in the two systems? How?
3. Describe how the political ideologies are changing in the world. How a manager
can adapt to such changes?
4. What is political risk? How can we manage political risk?
5. Discuss the Types Legal Systems and their implications in international business.
Chapter 4: The Economic Environments Facing Businesses
1. Define â??economic freedomâ? and explain its implication in an economy.
2. What are the three types of economic systems? What criteria can we use to
evaluate them? Explain each system using the criteria discussed in class.
3. Discuss the impact of â??emerging nationsâ? and explain how they will affect
international business.
4. Explain how we can evaluate an economy using traditional and nontraditional
(broader) measures of economic performance.
5. Explain the Balance of Payments account of a country with its four subheads.
Why is it important to in international business manager?
Chapter 5: Globalization and Society
1. Discuss the three approaches in moral reasoning. Which appeals to you most and
why?
2. Define cultural relativism and normativism. Explain how the concept can be used
by the multinationals in a foreign country.
3. What is corruption? What can we do to combat corruption? Explain.
4. Discuss the legal and ethical dimension of Corporate Social Responsibility in
a globalized world.
Chapter 6: International Trade and Factor-Mobility Theory
1. Question can be asked to explain one or more theories of trade. For exampleâ?¦
a) Explain Porterâ??s Diamond of International Competitiveness of Nations.
b) Elaborate the trade theories of Smith, Ricardo and Heckscher-Ohlin and
distinguish their differences.
c) Explain International Product Life Cycle Theory (IPLC).
2. Discuss the evolving pattern and future of â??trade and factor mobilityâ? in
a globalized world.
Chapter 7: Governmental Influence on Trade
1. What is protectionism? What are the arguments for and against protectionism? I
may ask you to explain any specific rationale (e.g., infant industry argument)
2. How does governments intervene trade with the help of non-tariff barriers?
Explain.
3. What are the effects of subsidies (or quotas) on price, production, market,
motivation and trade? Explain.
4. What measures firms can take to deal with governmental intervention? Explain.
Chapter 8: Cross-National Cooperation and Agreements
1. Define economic integration. What are the three approaches to integration?
Explain.
2. Define economic integration. Explain the static and dynamic effects of regional
economic integration.
3. Define economic integration. Explain the five different types of regional
economic integration.
4. How can we study regional groups? Specifically, explain the role of the matrix we
discussed in class.
5. What are the three approaches to integration? Discuss their future in
a globalized world.
Chapter 9: Global Foreign-Exchange Markets
1. What is a foreign exchange market? Explain the role each institution plays in the
FX market.
2. Why U.S. dollar is the most traded currency in the world?
3. Define the following Global Over The Counter (OTC) Foreign Exchange
Instruments: spot rate, forward rate, options, futures and swap.
4. Define the following terms and distinguish their differences: bid, offer, spread,
and cross rate.
5. How does the fluctuation of exchange rate affect trade? For example, if Yen
appreciates against Dollar, how will this affect U.S.-Japan trade? I can ask similar
question with any currency.
Chapter 10: The Determination of Exchange Rates
1. Discuss the role of IMF in a global economy.
2. What is IMF? What are their goals? How does it manage global monetary
stability?
3. What is a peg rate system? Explain the current global pegging exchange rate
arrangement.
4. What is convertibility of a currency? How governments intervene FX, and why?
Explain.
5. How do we determine the value of a currency? Explain the factors that determine
the value of a currency. I may ask you to explain one or more specific factors.
Chapter 13: Country Evaluation and Selection
1. What factors should we consider to scan and evaluate a country? Explain.
2. What problems do companies face with international business research and data
collection? Explain.
3. What are the common sources for collecting international data? Explain.
4. What is country evaluation grid and opportunity-risk matrix? Explain how they
help company strategy.
Chapter 14: Export and Import
1. Explain why firms export or import. What are their competitive advantages for
export or import?
2. Describe the export-import process and explain the role of various â??export
documentation� involved in the process.
3. Who are the export/import intermediaries? Explain their role and functions in the
export-import process.
4. What is countertrade? What are the different types of countertrade? Why firms or
governments engage in countertrade? Explain.
Chapter 15: Direct Investment and Collaborative Strategies
1. What is a collaborative arrangement? Why firms collaborate? Explain their
reasons for collaboration.
2. What are the different types of collaborative arrangements we discussed in class?
Explain.
3. Explain the criteria for evaluating collaborative strategies. When would a firm opt
for licensing over joint venture? Make specific arguments. (Similar questions can
also be asked for other strategies, one over the other).
Chapter 17: Marketing Globally
1. Define international marketing and explain how it differs from domestic
marketing.
2. Explain the standardization adaptation debate in international marketing
3. Explain Product Considerations in international marketing. I may ask you to
explain any of the four Pâ??s in marketing.
Chapter 18: Global Manufacturing and Supply Chain Management
1. Define and explain the role of â??supply chain managementâ? in firm strategy.
2. Explain how the success of a global supply chain strategy depends upon
compatibility, manufacturing configuration, and coordination and control.
3. Define global sourcing and explain the role it plays in global supply chain
management.
International Business Videos for Tests
You must watch all videos during the semester. Test questions can be from the videos.
Sample questions are given. Actual questions will be similar to these questions. You
must watch Video 1-6 before taking Test 1 and Videos 7-12 before taking Test 2.
Must Watch for Test 1 â??Midterm (Video 1-6)
Video 1- Ian Goldin: Navigating our global future (7 minutes)

Read the text, watch the video and explain how globalization is shaping the future of
business. Support your arguments with the concepts discussed in the text/video and your
own observations.
Video 2- What is Economic Freedom? (9 minutes)

Video 3- Milton Friedman on Political and Economic Freedom (3 minutes)

Read the text, watch the videos, and explain the role of freedom (both political and
economic) in our daily life and in business.
Video 4 – Trade War: Trump against the World? (26 minutes)
YouTube URL: http://www.youtube.com/watch?v=AKnAktKb1vc
How the “trade war” will affect the U.S. and global the economy? Make specific
arguments to support your answer.
Video 5- India’s Economy: The Road Ahead (12 minutes)

How will the rise of India affect the global economy and business-explain.
Video 6- How China Dominated he World’s Top Place (46 minutes)

How does the rise of China affect US trade competitiveness?
Must Watch for Test 2 â??Final (Video 7-12)
Video 7- A brief history of the European Union (5 minutes)

Why did Europe want to integrate? What was the primary rationale?
Video 8- The Great Euro Crisis BBC Documentary (59 minutes)
https://www.youtube.com/watch?v=Z1LCBp0twLE
Is European Monetary Union working? Do we need an overhaul? Answer with specific
arguments.
Video 9- Milton Friedman – Imports, Exports & Exchange Rates (14 minutes)

Read the text, watch the video, and answer the following question. If Chinese
Yuan/Renminbi appreciates its value by 10%, how will this affect China-U.S.A trade?
Will it decrease U.S. trade deficit with China? Explain and make specific arguments.
Video 10- Guide to currency markets (15 minutes)

Write a critique of the video. A critique includes pros, cons and â??what else could/should
have been included� in the video.
Video11-Alibaba Story-Inside China-CNBC International (9 minutes)

Read the text, watch the video and describe the global expansion and achievements of the
company.
Video 12- Global Market Entry Strategies Explained (8 minutes)

International Business
Sixteenth Edition
Chapter 1
Globalization and
International Business
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
Learning Objectives (1 of 2)
1.1 Relate globalization and international
business (IB) to each other and explain why
their study is important
1.2 Grasp the forces driving globalization and IB
1.3 Discuss the major criticisms of globalization
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
Learning Objectives (2 of 2)
1.4 Assess the major reasons companies seek to
create value by engaging in IB
1.5 Define and illustrate the different operating
modes for companies to accomplish their
international objectives
1.6 Recognize why national differences in
companiesâ?? external environments affect how
they may best improve their IB performance
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
Global Governance-how the world is
being governed today
â?¢Politics/Peace- United Nations
â?¢Trade- World Trade Organization (WTO)
â?¢Money/Finance- International Monetary Fund
(IMF)
â?¢Development- World Bank
â?¢Overall- G8 Nations (USA, Canada, UK, France,
Germany, Italy, Japan, and Russia)
â?¢Other international organizations and bodies
4
Factors in IB Operations
Objective 1-1
Figure 1.1 Factors in IB Operations
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
Introduction-why study International
Business
â?¢ It is important to study international business because
â??Most companies are either international or compete
with international companies
â??Global events and competition affect almost all
companies, regardless of industry
â??International companies have more complex
environments than domestic firms.
â??An understanding of IB helps you make better career
decisions
â??An understanding helps you decide what government
policies to support
Copyright © 2015 Pearson Education, Inc.
1-6
Globalization and International
Business
1-7
â?¢ Globalization is the widening set of interdependent
relationships among people from different parts of a world
divided into nations
â?? The term sometimes refers to the elimination of barriers to international
movement of goods, services, capital, technology, and people that
influence the integration of world economies
â?¢ International business consists of all commercial
transactionsâ??including sales, investments, and
transportationâ??that take place between two or more
countries
â?? increasingly foreign countries are a source of both production and sales
for domestic companies
Copyright © 2015 Pearson Education, Inc.
Factors Driving Globalization
â?¢ Rise in and application of technology
â?¢ Liberalization of cross-border trade and
resource movements
â?¢ Development of services that support IB
â?¢ Growth of consumer pressures
â?¢ Increase in global competition
â?¢ Changes in political situations and government
policies
â?¢ Expansion of cross-national cooperation
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
1-9
Costs of Globalization
â?¢Threats to national sovereignty
â??lose freedom to â??act locallyâ?
â?¢Economic growth and environmental stress
â??growth consumes nonrenewable natural
resources and increases environmental
damage
â?¢Growing income inequality and personal stress
â??promotes global superstars at the expense of
others
Copyright © 2015 Pearson Education, Inc.
1-10
Why Companies Engage in IB
â?¢ To expand sales
â??pursuing international sales increases the potential
market and potential profits
â?¢ To acquire resources
â??may give companies lower costs, new and better
products, and additional operating knowledge
â?¢ To diversify or reduce risks
â??international operations may reduce operating risk by
smoothing sales and profits, preventing competitors
from gaining advantage
Copyright © 2015 Pearson Education, Inc.
1-11
Modes of Operations in IB
â?¢Merchandise exports
â?¢ goods that are sent out of a country
â?¢Merchandise imports
â?¢ goods that are brought into a country
â?¢Sometimes referred to as visible exports and
imports
Copyright © 2015 Pearson Education, Inc.
1-12
Modes of Operations in IB
â?¢ Service exports
â?? provider and receiver of payment
â?¢ Service imports
â?? recipient and payer of payment
â?¢ Examples
â?? Tourism and transportation
â?? Service performance
â?ª turnkey operations and management contracts
â?? Asset use
â?ª licensing and franchising
Copyright © 2015 Pearson Education, Inc.
1-13
Modes of Operations in IB
â?¢ Investments
â??Foreign Direct Investment (FDI)
â?ªinvestor takes a controlling interest in a foreign
company
â??joint venture
â??Portfolio Investment
â?ªa non-controlling financial interest in another entity
â??Mutual funds often include international
companies
Copyright © 2015 Pearson Education, Inc.
1-14
Modes of Operation in IB
â?¢ Collaborative arrangements
â??Joint ventures
â??Licensing arrangements
â??Management contracts
â??Minority ownership
â??Long-term contractual arrangements
â?¢ Strategic alliance
â??companies that work together, but the agreement is
critical to at least one partner
â??an agreement that does not involve joint ownership
Copyright © 2015 Pearson Education, Inc.
1-15
Types of International Organizations
â?¢Multinational enterprises (MNEs)
â??take a global approach to markets and
production or have operations in more than
one country
â?¢Sometimes they are referred to as
â??multinational corporations (MNCs)
â??multinational companies (MNCs)
â??transnational companies (TNCs)
Copyright © 2015 Pearson Education, Inc.
1-16
Physical and Social Factors
â?¢ Geographic influences
â?? natural conditions influence business locations
â?¢ Political policies
â?? countries determine where and how business occurs within their
borders
â?¢ Legal policies
â?? influence how a company operates
â?¢ Behavioral factors
â?? may require adaptation in to local conditions
â?¢ Economic forces
â?? explain differences in costs, currency values, market size
Copyright © 2015 Pearson Education, Inc.
1-17
The Competitive Environment
â?¢ Competitive strategy for products
â??Cost strategy
â??Differentiation strategy
â??Focus strategy
â?¢ Company resources and experience
â??market leaders have more resources for international
operations
â?¢ Competitors faced in each market
â??local or international
Copyright © 2015 Pearson Education, Inc.
1-18
Future of Globalization
â?¢Three major perspectives on the future of
international business and globalization
â??Further globalization is inevitable
â??International business will grow primarily
along regional rather than global lines
â??Forces working against further globalization
and international business will slow down both
trends
Copyright © 2015 Pearson Education, Inc.
19
Chapter 1: Discussion Questions
1.
Define globalization and explain the forces driving
globalization.
2.
Define globalization and explain the cost and future of
globalization.
3.
What is global governance? Explain the role of each
institution in Global Governance.
4.
What is Globalization Index? Explain the construct and
methodology in evaluating the countries.
Copyright
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
International Business
Sixteenth Edition
Chapter 2
The Cultural
Environments Facing
Business
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
Learning Objectives
2-1 Explain why culture, especially national culture,
is important in IB, but tricky to assess
2-2 Grasp the major causes of national cultural
formation and change
2-3 Discuss major behavioral factors influencing
countriesâ?? business practices
2-4 Recognize the complexities of cross-cultural
communications
2-5 Analyze guidelines for cultural adjustment
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
Cultural Factors and the IB Environment
FIGURE 2.1 Cultural Factors Affecting IB Operations
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
2-4
Introduction
â?¢ What is Culture?
â?? â??Sum totalâ? of all learned activities, a way of life– refers to the
learned norms based on values, attitudes, and beliefs of a group
of people living in a geographic area, in a society or a nation
â?¢ Why an international business manager should study the
culture of a country?
â?? Culture is an integral part of a nationâ??s business and operating
environment
â?? Companies need to decide how and when to make cultural
adjustments
â?? Fostering cultural diversity can offer global competitive advantage
Copyright © 2015 Pearson Education, Inc.
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
2-5
Cultural Awareness
â?¢ We need a GLOBAL MINDSET to succeed–managers that
educate themselves about other cultures have a greater
chance of success. Problem areas that can hinder
managersâ?? cultural awarenessâ?¦
â?? Subconscious reactions to circumstances (selfreference criterion)
â?? The assumption that all societal subgroups are similar
â?¢ Cultural collision can occur when a company implements
practices that are counters a countryâ??s cultural norms
Copyright © 2015 Pearson Education, Inc.
Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved.
6
Understanding Culture
â?¢ National cultures are dynamic, they evolve over
time, change occurs by choice or by imposition.
Three feat …
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