Chapter 1 - Chapter 1 an Overview of International Business...

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Chapter 1 an Overview of International Business Olympic games represent IB at its most intense o Thrust cities/countries into international spotlight and promoter’s economic growth. o Tourists long lived, catalyst for improving a city’s infrastructure. o Corporate sponsors and TV advertisements make huge drops in cash, worldwide partnerships o Changes in communications, transportation, ARE not only facilitating domestic firm’s foreign expansion but help foreign companies invade domestic markets. o An economy was borders are nonexistent. What is International Business? o Consists of business transaction between parties from more than 1 country Materials, processing, assembly retain and foreign plants. o Differences between international and domestic business Different currencies Legal system different, mandates different head ache for managers Cultures/behaviours different Availability of resources different, products/price varies among countries. Key points cultural, legal, political and social. Why study international business? o Affected by global economy(teams, be effective with international colleagues)
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o Employment by foreign firm( 5.3 in us, 8.4 aboard from US companies) o foreign equipment/e-commerce o internet makes it easier to compete internationally cut costs, less shipping o keep pace with future competitor o latest global business techniques (JIT, just in time deliver inputs when needed) o obtain cultural literacy differences become increasingly important
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This note was uploaded on 04/10/2009 for the course MANG MGCR 352 taught by Professor Zlou during the Spring '09 term at McGill.

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Chapter 1 - Chapter 1 an Overview of International Business...

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