International+Management+122

International+Management+122 - International Management...

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International Management Professor Arnold F. Ryckebosch J.R.Dixon
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Globalization is taking place National economies merging at accelerated pace EU NAFTA CAFTA? FTAA? Barriers to trade being removed fast Tariffs taxes and regulations Foreign direct investment State owned monopolies disappearing re-appearing “Corporatization” Geographical immobility is diminishing Panics, like viruses, spread rapidly
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Globalization In Theory: Intensity of competition increases Boeing/Lockheed now Boeing/Airbus GE Lighting/Sylvania now GE/Philips/Siemens Countries develop advantages in certain goods Cars? Computers? Wine? Oil? Watches? Agreements on Rules of trade and investment GATT, WTO, NAFTA, EU, G8, G20 Movement of people : migration Immigration issues Prosperity of citizens increases All citizens?
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Companies globalize to Expand revenues Broader consumer base Larger product variety Reduce costs Economies of scale Labor and material cost advantages Cost avoidance (e.g., environmental, transportation) Increase profits
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Corporate Globalization Challenges Business strategy/tactic adaptation required Market access alternatives Need for global / regional competitiveness Product customization HR practices Culture adaptation Logistics Political Economic Social Technological factor impact (PEST)
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Globalization forces companies to Learn about foreign markets Learn how to coordinate with foreign partners Learn how to manage people in foreign environments Learn to manage foreign subsidiaries Learn how to interact with foreign governments
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So What? - Managerial Implications Affecting day-to-day choices Affecting strategic choices
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Accounting / Finance Need for GAAP/IFRS adjustments to Income Statements Different Expense treatment Impact of inflationary environments Pricing Impact of devaluation Pricing Balance sheet exposure Taxation Operations Management Inventory management JIT Distribution Logistics Production Greenfield / Brownfield Capital vs. labor Quality Export vs. local Human Resources Transfer of Corporate Culture Hiring / firing practices Compensation and benefits Unions and Political parties Environmental changes
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This note was uploaded on 02/06/2012 for the course SMG SM 122 taught by Professor Roberts during the Spring '09 term at BU.

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International+Management+122 - International Management...

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