chap01 - BUSINESS John D. Daniels University of Miami Lee...

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1 Prentice Hall, 2002 Chapter 1 Daniels BUSINESS John D. Daniels University of Miami Lee H. Radebaugh Brigham Young University Daniel P. Sullivan University of Delaware
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2 Prentice Hall, 2002 Chapter 1 Daniels Chapter One The Growth of International Business and Globalization
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3 Prentice Hall, 2002 Chapter 1 Daniels Chapter Objectives To understand the meaning of globalization and why it has been accelerating To grasp how globalization and business affect each other To realize why countries gain advantages by trading with each other To appreciate the challenges in the trade-offs of positive and negative effects of globalization To discern why international business is different from domestic business
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4 Prentice Hall, 2002 Chapter 1 Daniels Introduction Globalization: deepening relationships and broadening interdependence among people from different countries International business: all business transactions, private and governmental, that involve two or more countries Two reasons for studying globalization and international business: The growth of globalization creates both opportunities and threats for individuals, companies, and countries The conduct of international business is distinct from that of domestic business because companies must operate in diverse foreign environments and must engage in specialized types of transactions, such as exporting and importing and currency conversion
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5 Prentice Hall, 2002 Chapter 1 Daniels Why Countries Need International Business Three primary reasons include: (1) Availability Natural advantage: the ability to produce due to readily available resources such as minerals and agricultural products Acquired advantage: based on research and development Most new products originate and find their largest markets in the wealthier countries such as the United States, Germany, Japan, France, the United Kingdom, and Italy The fastest growth area in world trade has been in services, which has grown from less than 4% to more than 20% of world trade between 1980 and 1999 Manufacturing now accounts for less than 20% of the economies of the wealthier countries
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This note was uploaded on 12/06/2011 for the course BUSINESS ba 570 taught by Professor Smith during the Spring '11 term at UCLA.

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chap01 - BUSINESS John D. Daniels University of Miami Lee...

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