International Business

Challenges in a Changing World

by Janet Morrison

Learning objectives

Click on the links below to access learning objectives for each chapter of the book.

Part 1 The international dimension and the organization
Chapter 1 The business enterprise in the international environment
Chapter 2 Perspectives on globalization

Part 2 The environment of IB
Chapter 3 The economic environment
Chapter 4 The cultural environment
Chapter 5 The political and legal environment

Part 3 Competing in the global marketplace
Chapter 6 International trade and regional integration
Chapter 7 Strategy and organizations
Chapter 8 Marketing

Part 4 Managing in the global environment
Chapter 9 Human resource management
Chapter 10 Supply chains
Chapter 11 Finance and accounting
Chapter 12 Innovation and strategy

Part 5 Global issues and IB
Chapter 13 Ecological challenges for business and society
Chapter 14 Corporate social responsibility
Chapter 15 Global governance

Chapter 1: The Business Enterprise in the International Environment

  • To highlight the ways in which the international dimension in business activities is distinctive from national and local enterprises

  • To appreciate the role of the entrepreneur and entrepreneurship in the international environment

  • To gain an overview of the ways in which enterprises organize and adapt when they expand internationally

  • To gain an understanding of the key players in the international environment with which businesses interact

Chapter 2: Perspectives on Globalization

  • To evaluate contrasting views on globalization and its transformational effects on businesses and societies

  • To gain an overview of the means by which organizations expand internationally, in both markets and production

  • To appreciate leading theories of internationalization and foreign direct investment (FDI)

  • To examine critically the impacts of globalization on societies

Chapter 3: The Economic Environment

  • To become familiar with concepts and tools used by economists for comparing national economies

  • To identify the differences between divergent economic systems, including their market openness, social perspectives and the role of the state in economic life

  • To assess the prospects and opportunities of the world’s developing and transitional economies

  • To gain an overview of regional integration in the global economy

  • To highlight the challenges faced by the least developed economies

Chapter 4: The Cultural Environment

  • To appreciate the differing facets of culture as they impact on business interactions

  • To identify and apply culture theories in differing business contexts

  • To highlight the differences in organizational cultures, and how they affect business activities across national borders

  • To understand the processes of culture change taking place across the globe, along with their implications for business

Chapter 5: The Political and Legal Environment

  • To identify contrasting political systems and their implications for business relations

  • To assess the sources of political risk encountered by international businesses

  • To appreciate the changing role of governments in the business environment

  • To understand the ways in which legal frameworks, at national, regional and international levels, impact on business activities

  • To evaluate and respond to changes in political and legal environments which impact on international managers

Chapter 6: International Trade and Regional Integration

  • To appreciate the role of trade in the competitive environment for national economies, societies and firms

  • To understand and apply key theories of international trade to a variety of contexts

  • To identify the tools of government trade policy, and their rationale in terms of wider policy goals

  • To assess the progress of trade agreements among countries at multilateral, bilateral and regional levels, together with their impacts on business strategy

Chapter 7: Strategy and Organizations

  • To examine alternative international strategies for entering new markets and choosing locations for production

  • To identify and assess contrasting approaches to strategy formation, taking in analysis of the external competitive environment, as well as analysis of a firm’s internal resources

  • To compare differing organizational structures among MNEs, focusing on how they have evolved to adapt to the changing environment

  • To assess the impact of national environment on the structure and behaviour of firms and networks

Chapter 8: Marketing

  • To identify the role of marketing strategy within corporate goals and operations

  • To assess appropriate market entry strategies and target markets in a variety of organizational and environmental contexts

  • To appreciate the role of product markets and brands in the marketing mix for differing markets and environments

  • To integrate elements of the marketing mix, including communications, pricing and distribution strategy, in international markets

  • To develop awareness of ethical issues in marketing

Chapter 9: Human Resource Management

  • To appreciate the role of HRM in the international organization, highlighting links between parent companies and geographically dispersed affiliates

  • To understand the impact of diverse cultural and institutional environments on HR policies and practices in differing locations and organizational settings

  • To identify the ways in which relations between management and employees are evolving in the global context

  • To gain a practical perspective on the issues arising in cross-cultural organizational environments, including teams, networks and cross-border alliances

Chapter 10: Supply Chains

  • To identify the key elements of international supply chains and the interrelationships, appreciating variations among sectors and environments

  • To be able to evaluate supply chain strategies in action, from make-or-buy decisions to manufacturing and distribution options

  • To appreciate the transformation in manufacturing brought about by the principles of lean production and continuous improvement

  • To understand the increasingly important role of quality in all elements of the supply chain, including the impact of differing national environments

  • To assess the development of transport and logistics in the context of consumer markets, as well as community and environmental impacts

Chapter 11: Finance and Accounting

  • To gain an overview of the principles and workings of the international monetary system

  • To become familiar with foreign exchange risks, and the tools available to manage them

  • To understand the role of global financial markets in international business

  • To evaluate the corporate financing options which allow firms to function internationally, together with their impacts on decision-makers, shareholders and other stakeholders

  • To highlight key international accounting issues which impact on businesses at the international level and in diverse national environments

Chapter 12: Innovation and Strategy

  • To identify the elements of innovation essential to global competitiveness

  • To apply theories of innovation in the organizational and national contexts to gain a deeper understanding of the dynamics of innovation processes

  • To appreciate national environmental differences in the creation and dissemination of new products and technologies, including the role of FDI and government policies

  • To understand the strategies and practices involved in managing innovation in differing types of international organization, highlighting the role of IP in the research-intensive company

Chapter 13: Ecological Challenges for Business and Society

  • To identify the changes taking place in the ecological environment, and their impacts on human well-being

  • To understand the role of international business in environmental change, in the context of industrialization and economic development

  • To appreciate the evolving role of national governments and international cooperation in responding to the diverse impacts of climate change

  • To assess the function of environmental management in a firm’s strategy and practice, in developed and developing countries

  • To critically examine the role of consumers in environmental protection

Chapter 14: Corporate Social Responsibility

  • To define CSR and related concepts in the context of theories which examine the role of the firm in society

  • To assess the strategic implications of CSR for international business

  • To appreciate the changing role of philanthropy internationally, along with the rise of diverse social enterprises in the not-for-profit as well as for-profit sectors

  • To assess corporate governance structures and processes in light of CSR principles

  • To examine supply chains and global production in terms of CSR and stakeholder impacts

  • To assess trends in CSR reporting, highlighting impacts on consumer and other stakeholder groups

Chapter 15: Global Governance

  • To identify the processes and players shaping global governance mechanisms

  • To highlight the global challenges encountered by international business, governments and civil society, particularly in the areas of human well-being, climate change and risks to security

  • To gain an overview of the shifts taking place in international markets, including the growing influence of sovereign players

  • To assess the impacts of international rulemaking for businesses operating in differing national environments

  • To appreciate the links between CSR strategic approaches and engagement in global governance networks, highlighting the ethical dimensions for international business