《国际商务》(查尔斯英文第九版)期末复习重点

Chapter 1 globalizationWhat is globalization?The globalization of markets.It refers to the merging of historically distinct and separate national markets into one huge global marketplace.The globalization of productionIt refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production.Factors of production: (1) land, (2) capital, (3) labor, (4) energyWhy china losing their position of global factory?(1)A ging population.The population of the china is aging, which leads china to losing their advantage of cheaper labors that resulting the cost of production in china is going higher.(2)E xpensive land.The higher cost of land is another reason that leads to China losingits position of global factory. In the early time, it is free for foreign company to use land in China to build up a factory. But it is not free for them anymore. Because of the increasing price of land, many company are moving their factories to other countries.The differences between the International Monetary Fund (IMF) and World Bank （WB）.The IMF was established to maintain order in the international monetary system; the WB was set up to promote economic development.In a short word, the IMF always gives a hand to the countries in crisis, and it often offers the short-term loan.The WB always loan money to country build their infrastructure with long-term loan.Drivers of globalizationDeclining trade and investment barriersInternational trade occurs when a firm exports goods & services to consumers in another country.Foreign direct investment (FDI) occurs when a firm invests resources in business activities outside its home country.The role of technological changeMicroprocessors and telecommunicationsMoore’s law, which predicts that the power of microprocessor technology doubles and its cost of production falls in half every 18 months.The internet and world wide webTransportation technologyImplications for the globalization of productionImplications for the globalization of marketsThe changing demographics of the global economyThe changing world output and world trade pictureThe changing foreign direct investment pictureThe changing nature of the multinational enterpriseThe changing world orderTotalitarianism ———democracyPlan market —— free marketFactors prevent globalizationProtectionismDistanceLanguage barriersControl by government(1)Job losses in industries under attack from foreign competitors;(2)Downward pressure on the wage rates of unskilled workers;(3)Environmental degradation;(4)The cultural imperialism (帝国主义) of global media andmultinational enterprise, which was called “culturally impoverished”The differences between managing an international business and managing a purely domestic business(1)C ountries are different(2)T he range of problems confronted by managers in aninternational business is wider and the problems themselves (3)A n international business must find ways to work within thelimits imposed by government intervention in the international trade and invest system;(4)International transactions involve converting money intodifferent currenciesChapter 2national differences in political economy political economy to stress that the political, economic, and legalsystems of a country are interdependent.Political system: mean the system of government in a nation. It can be assessed according to two dimensionsThe first is the degree to which they emphasize collectivism as opposed to individualism.Collectivism: refers to a political system that stresses the primacy of collective goals over individual goals.Individualism: refers to a philosophy that an individual should have freedom in his or her economic and political pursuit.The second is the degree to which they are democratic or totalitarian.Democracy: refers to a political system in which government is by the people, exercised either directly or through elected representatives.Totalitarianism: is a form of government in which one person or political party exercise absolute control over all sphere of human life and prohibits opposing political parties.Pure market economy: all productive are privately owned, as opposed to being owned by the state.Pure command economy: the government plans the goods and services that country produces, the quantity in which they are produced, and the prices at which they are sold.Legal systemCommon law: based on tradition, precedent (先例)Civil law: based on a detailed set of laws organized into codes. Theocratic law: the law is based on religious teachings Property rights and corruptionProperty rights: refers to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.Property rights can be violated in two ways—— through private action and through public action.Private action: refers to theft, piracy（非法翻印），blackmail）（勒索）, and the like by private individuals or groups.Public action and corruption: it occurs when public officials, such as politicians and government bureaucrats, extort （敲诈）income, resources, or the property itself from property holders.Chapter 3political economy and economic development GNI: is regarded as a yardstick for the economic activity of a country; it measures the total annual income received by residents of a nation.The disadvantage of GNI:GNI per person figures can be misleading because they don’t consider difference in the cost of living.To account for the difference in the cost of living, the purchasing power parity(PPP) is referred. It for different countries is then adjusted (up or down) depending upon whether the cost of living is lower or higher than the USA.Human Development Index(HDI): a tool to measure the quality of human life in different countries, which is based on three measures:(1). Life expectancy at birth (a function of health care);(2). Educational attainment (measured by a combination of the adult literacy rate and enrollment in primary, secondary, and tertiary education);(3). Whether the average income, based on PPP estimates, are sufficient to meet the basic needs of life in a country (adequate food, shelter, and health care).Innovation and entrepreneurship are the engines of growth Innovation: new products, new processes, new organization, new management practices, and new strategies.Furthermore, innovations in production and business processes lead to an increase in the productivity of labor and capital, which further boosts economic growth rates.Entrepreneurs first commercialize innovative new products and processes, and entrepreneurial activity provides much of the dynamism(活力) in an economy.The factors that innovations and entrepreneurship need:1.Market economy;2.Strong property rights;3.Democratic political system;4.Geography(地理), education, and economic development. States in transitionThe political economy of many of the world’s nation-states has changed radically since the late 1980s. two trend have been evident:First, a wave of democratic revolutions swept the world;Second, there has been a strong move away from centrally planned and mixed economies and toward a more free market economic model.The spread of democracyThree main reasons account for the spread of democracy:First, many totalitarian regimes failed to deliver economic progress to the vast bulk of their populations.Second,new information and communication technologies,including satellite television, internet have reduced a state’s ability to control access to uncensored(未经审查的) information.Third, in many countries the economic advances of the past quarter century have led to the emergence of increasingly prosperous middle and working classes who have pushed for democratic reforms.The nature of economic transformationThe shift toward a market-based economic system often entails a number of steps:1.Deregulation;2.Privatization;3.Creation of a legal system to safeguard property rights. Implications of changing political economy (for managers) Benefits1.Size of economy;2.Likely economic growth；3.First-mover advantages: advantages that accrue to early entrantsinto a market;te-mover disadvantages are the handicaps that late entrantsmight suffer.costs1.Corruption(贪污、腐败)；ck of infrastructure;3.Legal costs.risks1.Political risks: social unrest/ anti-business trends;2.Economic risks: economic mismanagement;3.Legal risks: failure to safeguard Property Rights.Chapter 4 difference in cultureWhat is culture?Complex whole which includes knowledge, belief, art, morals, law, custom, and other capabilities acquired by man as a member of society.Values:Abstract ideas about what a group believes to be good, right, and desirable.Norms:The social rules and guidelines that prescribe appropriate behavior in particular situations.Norms can be subdivided further into two major categories: folkways and mores.Folkways are the routine conventions of everyday life, which includes rituals(礼仪) and symbolic behavior.More are norms that are seen as central to the functioning of a society and to its social life.Society:A group of people who share a common set of values and norms. The cultural norms and value system includes:1.Religion;2.Political philosophy;3.Economic philosophy;cation;nguage;6.Social structureSocial structureSocial structure refers to its basic organization, which can expend into two dimensions:First, the degree to which the basic unit of social organization is the individual, as opposed to the group.Second, the degree to which a society is stratified into classes or castes(等级)。