Brief Contents -- Detailed Contents -- Preface -- PART I SCOPE OF INTERNATIONAL BUSINESS AND THE MULTINATIONAL CORPORATION PART I -- CHAPTER 1 An Introduction to International Business and Multinational Corporations -- CURRENT SCOPE AND HISTORICAL ANTECEDENTS -- RECENT TRENDS IN WORLD TRADE -- THE FIELD OF INTERNATIONAL BUSINESS STUDIES -- DISCUSSION QUESTIONS -- CHAPTER 2 The Nature of International Business -- DOMESTIC VERSUS INTERNATIONAL BUSINESS -- METHODS OF GOING INTERNATIONAL -- RECENT TRADE PATTERNS AND CHANGES IN GLOBAL TRADE -- GOVERNMENT INVOLVEMENT IN TRADE RESTRICTIONS AND INCENTIVES -- REGIONAL TRADE GROUPS AND CARTELS -- NONTARIFF BARRIERS TO MERCHANDISE TRADE -- SUMMARY -- DISCUSSION QUESTIONS -- PART II INSTITUTIONAL FRAMEWORK AND ECONOMIC THEORIES -- CHAPTER 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 -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 4 International Monetary System and the Balance of Payments -- INTERNATIONAL MONETARY TERMINOLOGY -- A BRIEF HISTORY OF THE INTERNATIONAL MONETARY SYSTEM -- THE INTERNATIONAL MONETARY FUND -- 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 -- SUMMARY -- DISCUSSION QUESTIONS -- APPENDIX 4.1 BALANCE OF PAYMENTS -- PRELIMINARY DEFINITIONS -- PROBLEMS IN BOP -- CHAPTER 5 Foreign Exchange Markets -- BACKGROUND -- THE STRUCTURE OF THE FOREIGN EXCHANGE 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 -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 6 Supranational Organizations and International Institutions -- BACKGROUND -- GENERAL AGREEMENT ON TARIFFS AND TRADE -- FINANCIAL ORGANIZATIONS -- SUMMARY -- DISCUSSION QUESTIONS -- PART III ENVIRONMENTAL CONSTRAINTS IN INTERNATIONAL BUSINESS -- CHAPTER 7 Analyzing National Economies -- THE PURPOSE AND METHODOLOGY OF COUNTRY ANALYSIS -- PRELIMINARY ECONOMIC INDICATORS -- MARKET DEMAND FORECASTING -- METHODS OF ESTIMATING MARKET SIZE AND SHARE -- DESIGNING INITIAL MARKET STRATEGY -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 8 International Law -- 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 -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 9 Sociocultural Factors -- SOCIOCULTURAL FACTORS AND INTERNATIONAL BUSINESS -- SOCIETY,CULTURE,AND SOCIOCULTURAL FORCES -- ELEMENTS OF CULTURE -- OTHER THEORIES OF CULTURE -- MANAGEMENT OF CULTURAL CHANGE -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 10 Foreign Investment: RESEARCHING RISK -- WHY INVEST ABROAD? -- ASSESSING POLITICAL RISK -- TYPES OF HOST-NATION CONTROL -- ASSESSING THE RISK -- MANAGING RISK -- SUMMARY -- DISCUSSION QUESTIONS -- PART IV FUNCTIONAL OPERATIONS IN INTERNATIONAL BUSINESS -- CHAPTER 11 International Marketing -- WHAT MUST BE DONE: THE INTERNATIONAL MARKETER 'S DILEMMA.

TO CENTRALIZE OR DECENTRALIZE:THE FIRST KEY DECISIONS -- PRODUCT DECISIONS -- PROMOTION DECISIONS -- PRICING DECISIONS -- PLACEMENT DECISIONS: DISTRIBUTION OF PRODUCTS -- SUMMARY -- CHAPTER 12 International Finance -- FINANCING: INTERNATIONAL BUSINESS -- WORKING CAPITAL MANAGEMENT -- CAPITAL BUDGETING AND FINANCIAL STRUCTURE OF AN MNC -- LETTERS OF CREDIT IN INTERNATIONAL TRADE -- INTERNATIONAL CAPITAL MARKETS -- EMERGING MARKETS -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 13 International Accounting -- WHAT IS ACCOUNTING? -- DIFFERENCES IN ACCOUNTING PRACTICES AMONG COUNTRIES -- POLICY FORMATION AND HARMONIZATION -- SPECIAL ACCOUNTING PROBLEMS -- OTHER INTERNATIONAL ACCOUNTING ISSUES -- DISCUSSION QUESTIONS -- CHAPTER 14 International Taxation -- WHY TAXES? -- TYPES OF TAXES -- TAX COMPLIANCE AND TAX ENFORCEMENT -- INTERNATIONAL TAXATION -- SPECIAL ISSUES AND PROBLEMS IN INTERNATIONAL TAXATION -- TAX INCENTIVES FOR INTERNATIONAL BUSINESS -- SUMMARY -- CHAPTER 15 International Staf .ng and Labor Issues -- ORGANIZING A MULTINATIONAL CORPORATION -- INTERNATIONAL STAFFING -- MANAGERIAL STAFFING -- CHOOSING BRANCH MANAGERS:SELECTION CRITERIA -- TRAINING BRANCH MANAGERS -- COMPENSATING BRANCH MANAGERS -- REPATRIATING BRANCH MANAGERS -- ETHICAL ISSUES -- INTERNATIONAL LABOR ISSUES -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 16 Managing Operations and Technology -- OPERATIONS,TECHNOLOGY, AND INTERNATIONAL COMPETITION -- INTERNATIONAL PRODUCTION AND OPERATIONS -- DESIGNING THE LOCAL OPERATIONS SYSTEM -- PRODUCTION AND OPERATIONS MANAGEMENT -- INTERNATIONAL TECHNOLOGY -- MANAGEMENT INFORMATION SYSTEMS MIS IN AN MNC -- SUMMARY -- DISCUSSION QUESTIONS -- PART V SOCIAL AND ETHICAL ISSUES AND THE FUTURE OF INTERNATIONAL BUSINESS -- CHAPTER 17 Ethical Concerns: MULTINATIONALS AND THE EARTH'S ENVIRONMENT -- EMERGING: ENVIRONMENTAL COCERNS.

SOCIAL RESPONSIBILITY OF BUSINESS -- MAJOR ENVIRONMENTAL ISSUES -- MNC RESPONSES -- MNC OPPORTUNITIES -- THE ENVIRONMENT IS CENTER STAGE -- SUMMARY -- DISCUSSION QUESTIONS -- CHAPTER 18 Future Issues in International Business -- WHY STUDY THE FUTURE? -- FUTURE TRENDS AFFECTING INTERNATIONAL BUSINESS -- IMPACT OF TRENDS ON MNCS -- THE PERMANENCE OF CHANGE -- SUMMARY -- DISCUSSION QUESTIONS -- PART VI CASE STUDIES -- CASE STUDY 1 -- The Global Tire Industry and Michelin in 2004 -- THE TIRE INDUSTRY: A HISTORY -- TIRE MARKET SEGMENTS -- MAKING TIRES -- MICHELIN AND CIE -- MICHELIN IN 2004 -- THE CHALLENGE FOR THE MICHELIN MAN -- CASE STUDY 2 The European Non-Life Insurance Industry and AXA in 2001 -- INDUSTRY OVERVIEW -- AUTOMOBILE INSURANCE: A KEY NON-LIFE INSURANCE MARKET -- COMPETITION -- AXA -- OUTLOOK -- NOTES -- CASE STUDY 3 The Battle of the Smart Cards in the Netherlands in 2002 -- THE LAUNCH OF THE SMART CARDS -- THE SITUATION IN AUTUMN 1997 -- IN THE EYE OF THE STORM:1998 -- 1999 -2001:END OF THE BATTLE -- LOOKING FORWARD: 2002 AND BEYOND -- CASE STUDY 4 BANG & OLUFSEN AND THE ELECTRONICS ENTERTAINMENT INUDSTRY IN 2003 -- THE MARKET FOR ELECTRONIC ENTERTAINMENT IN EUROPE AND NORTH AMERICA -- THE ELECTRONICS ENTERTAINMENT VALUE CHAIN -- KEY COMPETITORS OF ELECTRONIC ENTERTAINMENT PRODUCTS -- BANG &OLUFSEN A/S -- THE ENTRY OF B&O INTO THE U.S.MARKET -- BANG &OLUFSEN NEW BUSINESS DEVELOPMENT -- THE CHALLENGE FOR BANG &OLUFSEN -- CASE STUDY 5 -- ABX -- HORIBA ABX, S.A. -- THE LAUNCHING OF THE COMPANY, 1983-1996 -- THE DEVELOPMENT OF THE COMPANY, 1996-2001 -- THE POSITION OF ABX IN THE HEMATOLOGY MARKET -- THE ENTRY INTO THE BIOCHEMISTRY MARKET -- FROM DIFFICULTIES TO REVIVAL,2001 -PRESENT -- THE ORGANIZATION OF ABX -- DISCUSSION QUESTIONS -- CASE STUDY 6 Arcelor and the Global Steel Industry -- AN OUTSTANDING YEAR.

THE HISTORY OF THE EUROPEAN STEEL INDUSTRY:RISE,FALL, AND RESTRUCTURING -- THE EARLY YEARS: A STEEL DISCIPLINE -- GOING FOR GLOBAL GROWTH -- ARCELOR 'S EUROPEAN COMPETITION -- THE ARCELOR ORGANIZATION -- FLAT CARBON STEEL -- LONG CARBON STEEL -- STAINLESS STEEL -- DISTRIBUTION,TRANSFORMATION, TRADING (DTT) -- A STRATEGIC MARKET: THE AUTOMOTIVE INDUSTRY -- SOUTH AMERICA: THE BEST OF BRIC -- NORTH AMERICA: ARCELOR ON THE LOOKOUT -- THE DERAILMENT OF RAW MATERIALS AND ENERGY PRICES -- CHINA:OPPORTUNITY OR THREAT? -- THE CHALLENGE OF SUSTAINABLE DEVELOPMENT -- EPILOGUE -- DISCUSSION QUESTIONS -- CASE STUDY APPENDIX 6.1 Arcelor 's Challenger: MITTAL -- CASE STUDY APPENDIX 6.2 ISG: AN AMERICAN TURNAROUND STORY -- CASE STUDY APPENDIX 6.3 STEEL: A SHORT PRIMER -- Glossary -- Index -- About the Authors.