Globalization for countries, industries, firms, and communities

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International Management
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Chapter One
Globalization and
International Linkages
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Learning Objectives
• Assess the implications of globalization for
countries, industries, firms, and communities
• Review the major trends in global and
regional integration
• Examine the changing balance of global
economic power and trade and investment
flows among countries
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Learning Objectives (continued)
• Analyze the major economic systems and
recent developments among countries that
reflect those systems
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Social Media
• Changed the way in which people connect
• Changed global business strategy
• Changed the way in which international
business is conducted
• Impacted international diplomacy
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Communication Platforms
• Can be accessed by individuals and groups
from any location
• Offer myriad opportunities for companies to
identify and target discrete groups
• Revolutionize nature of management by
allowing direct interaction between producers
and consumers
• Accelerate the already rapid pace of
globalization and integration
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Management
• Process of completing activities with and
through other people
• International management is the process of:
– Applying management concepts and techniques in
a multinational environment
– Adapting management practices to different
economic, political, and cultural contexts
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Multinational Corporations (MNCs)
• Firms that have:
– Operations in more than one country
– International sales
– Mix of nationality among managers and owners
• Managers are required to develop
international management expertise
• Increasingly coming from developing nations
like China and India
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Globalization and Internationalization
• Globalization
– Process of social, political, economic, cultural, and
technological integration among countries around
the world
– Evidence can be seen in increased levels of trade,
capital flows, and migration
• Internationalization
– Process of a business crossing national and
cultural borders
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Factors That Facilitate Globalization
• Technological advances in transnational
communications, transport, and travel
• Offshoring
– Companies undertake some activities at offshore
locations instead of in their home countries
• Outsourcing
– Subcontracting or contracting out of activities that
had previously been performed by the firm to
external organizations
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Benefits of Globalization
Wealth
Better jobs
Access to technology
Lower prices
Availability of goods
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Criticisms of Globalization
• Offshoring of service jobs to lower-wage
countries
– Companies and countries place downward
pressure on wages and working conditions
• Growing trade deficits and slow wage growth
could lead to economic collapse
• Concerns over environmental and social
impacts
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Global Agreements
• General Agreement on Tariffs and Trade
(GATT)
– Helped in the dramatic reduction of tariff and
nontariff barriers among nations
• World Trade Organization (WTO)
– Oversees rules and regulations for international
trade and investment
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Regional Agreements
North American Free Trade Agreement (NAFTA)
U.S.–Singapore Free Trade Agreement
U.S.–Central American Free Trade Agreement (CAFTA and CAFTADR)
European Union (EU)
Transatlantic Trade and Investment Partnership (T-TIP)
Association of Southeast Asian Nations (ASEAN)
Trans-Pacific Partnership (TPP)
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North American Free Trade Agreement
(NAFTA)
• Member nations include the United States,
Canada, and Mexico
• Helped eliminate tariffs and import and export
quotas
• Opened government procurement markets to
companies in the other two nations
• Increased opportunity to make investments in
each other’s country
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North American Free Trade Agreement
(NAFTA) (continued)
• Increased the ease of travel between
countries
• Removed restrictions on agricultural products,
auto parts, and energy goods
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Changing Global Demographics
• Factors contributing to the increase in the
median global population age
– Increase in global life expectancy due to
improvements in technology and healthcare
– Increase in time spent in retirement due to
increase in life expectancy
– Decline in global fertility rate
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Shifting Balance of Economic Power in
the Global Economy
• Result of economic integration and rapid
growth of emerging markets
• Emerging and developing nations might play a
dominant role in the global economic system
– BRIC countries – Brazil, Russia, India, and China
– E7 – Seven major emerging economies (Brazil,
China, India, Indonesia, Mexico, Russia, and
Turkey)
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Shifting Balance of Economic Power in
the Global Economy (continued)
– N-11 – Next wave of emerging markets
(Bangladesh, Egypt, Indonesia, Iran, Mexico,
Nigeria, Pakistan, Philippines, Turkey, South Korea,
and Vietnam)
– African countries can benefit from the increase in
price of commodities
• Gas and oil, agricultural products, and mineral and
mining products
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Table 1.7 – Changing Global Demographics:
Developing Countries on the Rise
Source: United Nations: Department of Economic and Social Affairs, World Population Prospects: The
2015 Revision. –> –> https://esa.un.org/unpd/wpp/
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Trends in Trade and International
Investments
• Since the global recession in 2009 , global
trade and investment have continued to grow
• Foreign direct investment (FDI)
– Amount invested in property, plant, or equipment
in another country
– Growing at a slow but steady rate in the years
since the global recession
– May reach $1.7 trillion by 2017
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Global Economic Systems
Market
economy
Command
economy
Mixed
economy
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Market Economy
• Exists when private enterprises reserve the
right to own property and monitor production
and distribution of goods and services
• Management is effective
– Private ownership provides local evaluation and
understanding
• Least restrictive form of economy
– Resource allocation is determined by the law of
demand
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Market Economy (continued 1)
• General balance between supply and demand
sustains prices
– Imbalance creates price fluctuation
• Competition is encouraged
– Helps promote innovation, economic growth, high
quality, and efficiency
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Market Economy (continued 2)
• Optimal growth is facilitated by focusing on
how to best serve the customer
• Monopolies or restrictive business practices
may be prohibited to maintain the integrity of
the economy
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Command Economy
• Government holds explicit control over the
price and supply of a good or service
• Businesses are owned by the state
– Ensures that investments and other business
practices are done in the best interest of the
nation
– Management ignores demographic information
• Creates an environment where little
motivation exists
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Mixed Economy
• Combination of market and command
economy
• Helps raise the standard of living
– Aided by regulations concerning minimum wage
standards, social security, environmental
protection, and the advancement of civil rights
• Ownership of organizations that are critical to
the nation may be transferred to the state
– Subsidizes costs and allows the firms to flourish
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Evaluation of the World’s Economies
Established
economies
•North
America
•European
Union
•Japan
Emerging
economies
•Central and Eastern
Europe
•China
•Other emerging
markets of Asia
(South Korea, Hong
Kong, Singapore, and
Taiwan)
•India
Developing
economies
•South
America
•Middle East
and Central
Asia
•Africa
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North America
• One of the four largest trading blocs in the
world
– Combined purchasing power of the United States,
Canada, and Mexico is more than $19 trillion
• Free-market-based economy provides
considerable freedom in decision-making
processes
– International firms receive the benefit of greater
flexibility and lower barriers
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North America (continued 1)
• The United States
– Firms maintain dominant global positions in
technology-intensive industries
– Considered to be a lucrative market for expansion
by foreign MNCs
– Canada is the largest trading partner
• Most of the largest foreign-owned companies in
Canada are totally or heavily U.S.-owned
• Legal and business environments are similar to that in
the U.S.
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North America (continued 2)
• Mexico
– Strongest Latin American economy
– Has free-trade agreements with over 46 countries
– Competes with Asia for the U.S. market and has
the benefit of proximity and lower-cost labor
• Facilitated by the maquiladora system
– Increased trade with both Europe and Asia
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European Union (EU)
• Objectives and goals
– Eliminate all trade barriers among member
nations
– Follow a single currency (euro) and a regional
central bank
• Firms have the benefit of:
– Manufacturing high-quality, low-cost goods
– Shipping manufactured goods across the EU
without paying duties or being subject to quotas
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European Union (EU) (continued)
• Challenges
– Absorbing its eastern neighbors that could result
in a giant, single European market
– Large deficits faced by several European
governments
• Resulted from structural conditions and shorter-term
economic pressures
• Placed pressure on the euro
– Maintaining a unified EU in the coming decades
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Japan
• Unprecedented economic success in the
1970s and 1980s
– Huge positive trade balance
– Strong yen
– Gained recognition as the world leader in
manufacturing and consumer goods
• Remains a formidable international
competitor and is well poised in all major
economic regions
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Japan (continued)
• Early success can be attributed to:
– The Ministry of International Trade and Industry
(MITI)
• Governmental agency that identifies and ranks national
commercial pursuits and guides the distribution of
national resources to meet these goals
– Keiretsus
• Large, vertically integrated corporations whose holdings
supply much of the assistance needed in providing
goods and services to end users
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Emerging and Developing Economies
• Face relatively low GDP per capita
• Have an unskilled or semiskilled workforce
• Involve considerable government intervention
in economic affairs
• Can be viewed as developing economies that
exhibit sustained economic reform and growth
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Russia
• Dismantled price controls
• Privatized businesses previously owned by the
government
• Direct investment and membership in
International Monetary Fund (IMF) helped to
raise GDP and decrease inflation
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Russian Economy
• Early economy was boosted by abundant oil
and high global energy prices
– Recent decreases in demand have pushed Russia
into a recession
• Likely to undergo many years of economic
instability and recurrent political problems
• Challenges – Persistent crime, corruption, and
lack of public security
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Central and Eastern Europe
• Hungary
– Privatization of state-owned businesses
– Joint ventures between local and western firms
– Receives direct investments from MNCs
• Poland
– Only economy in the EU to continue to grow
during the global recession of 2008–2009
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Central and Eastern Europe (continued)
• Key for Albania and other Eastern European
countries is to make themselves less risky and
more attractive for international business
– Maintain social order
– Establish rule of law
– Rebuild collapsed infrastructure
– Get factories and other value-added, jobproducing firms up and running
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China
• Considerable decline in GDP
• Current challenges
– Massive savings glut in corporate sector
– Globalization of manufacturing networks
– Vast developmental needs
– Unemployment (15–20 million new jobs required
annually)
– Social unrest
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China: Major Risk for Investors
• Caused due to:
– Delicate nature of the one country, two systems
balance (communism and capitalism)
– Concerns about undervaluation of China’s
currency
– Unpredictable and fluid nature of policies toward
foreign firms
• Trade relations with developed nations remain
tense
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Economic Performance in Emerging
Markets of Asia
• South Korea
– Chaebols: Large, family-held conglomerates that
have considerable economic and political power
– Has a solid economy with moderate growth and
inflation, low unemployment, an export surplus,
and fairly equal distribution of income
• Hong Kong
– Headquarters for some of the most successful
multinational operations in Asia
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Economic Performance in Emerging
Markets of Asia (continued 1)
• Singapore
– Emerged as an urban planner’s model and the
leader and financial center for Southeast Asia
• Taiwan
– Progressed from a labor-intensive economy to one
dominated by technologically sophisticated
industries
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Economic Performance in Emerging
Markets of Asia (continued 2)
• Thailand, Malaysia, Indonesia, and Vietnam
– Have a large population base with inexpensive
labor despite lack of natural resources
– Known to have social stability but have suffered
from turmoil in the aftermath of recent economic
crisis
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India
• Recent trend of locating software and higher
value-added services has bolstered middleand upper-class market for goods and services
• Attractive to U.S. and British investors
– Presence of English-speaking, well-educated, and
technologically sophisticated workers
– Availability of government funds for economic
development
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South America
• Faced many economic problems
– Accumulated heavy foreign debt obligations
– Experienced severe inflation
• Implemented economic reforms to reduce
debt
– Periodic economic instability and the emergence
of populist leaders have had an impact on the
attractiveness of countries in this region
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South America: Brazil
• Attracted considerable foreign investment
– Through privatization of power,
telecommunications, and other infrastructure
sectors
• Benefited from one of the most stable
governments throughout Latin America
– Undisputed economic leader of South America
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South America: Brazil (continued)
• Long-term prospects are still potentially
positive due to:
– Presence of a large and relatively well-educated
population
– Availability of ample natural resources
– Existing industrial base
– Strategic geographic position
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Chile
• Economic growth has fluctuated between
three and six percent since the 2000s
• Attracts FDI, mainly dealing with gas, water,
electricity, and mining
• Continues to participate in globalization
– Engages in trade agreements with Mercosur,
China, India, the EU, South Korea, and Mexico
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Argentina
• Has an overall strong economy
– Due to abundance of natural resources, highly
literate population, export-oriented agriculture,
and diversified industrial base
• Has suffered recurring economic problems
– Inflation, external debt, capital flight, and budget
deficits
• Economic growth has slowed since the global
recession
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Middle East and Central Asia
• Possess large oil reserves
• Have highly unstable geopolitical and religious
forces
– Try to balance these forces with economic viability
and activity in the international business arena
• Rely almost exclusively on oil production
• Have made large investments in U.S. property
and businesses
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Africa
• Has considerable natural resources but
remains very poor and undeveloped
– International trade is only beginning to serve as a
major source of income
• Risk for foreign investors arises from:
– Overwhelming diversity of the population
– Major political instability
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Africa (continued 1)
• Economic setbacks are caused due to:
– Tragic tribal wars
– Spread of diseases such as AIDS, malaria, and
Ebola
– Lack of institutions, infrastructure, and economic
capacity to take full advantage of globalization
– Poverty, malnutrition, illiteracy, corruption, social
breakdown, vanishing resources, overcrowded
cities, drought, and homeless refugees
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Africa (continued 2)
• Economic growth and dynamism have
accelerated in recent years
– Rise in GDP
– Growth in telecommunications, banking, and
retailing
• Rate of return on foreign investment in Africa
is higher than for any other region
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Be the International Business
Consultant: Walmart in India
• In light of this situation, what would your
recommendation be to Walmart?
• Should it stick with the wholesale focus, or
should it pursue another joint venture with an
Indian partner?
• Alternatively, should it maintain a “wait and
see” approach in hopes that the Indian
government will finally reform its restrictions
on foreign investment?
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Review and Discuss
• How has globalization affected different world
regions?
– What are some of the benefits and costs of
globalization for different sectors of society
(companies, workers, communities)?
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Review and Discuss (continued 1)
• How has NAFTA affected the economies of
North America and how has the EU affected
Europe?
– What importance do these economic pacts have
for international managers in North America,
Europe, and Asia?
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Review and Discuss (continued 2)
• Why are Russia and Eastern Europe of interest
to international managers?
– Identify and describe some reasons for such
interest and also risks associated with doing
business in these regions
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Review and Discuss (continued 3)
• Many MNCs have secured a foothold in Asia,
and many more are looking to develop
business relations there
– Why does this region of the world hold such
interest for international management?
– Identify and describe some reasons for such
interest
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Review and Discuss (continued 4)
• Why would MNCs be interested in South
America, India, the Middle East and Central
Asia, and Africa, the less developed and
emerging countries of the world?
– Would MNCs be better off focusing their efforts on
more industrialized regions? Explain
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Review and Discuss (continued 5)
• MNCs from emerging markets (India, China,
Brazil) are beginning to challenge the
dominance of developed country MNCs
– How might MNCs from North America, Europe,
and Japan respond to these challenges?

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Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Why Choose Our Academic Writing Service?

• Plagiarism free papers
• Timely delivery
• Any deadline
• Skilled, Experienced Native English Writers
• Subject-relevant academic writer
• Adherence to paper instructions
• Ability to tackle bulk assignments
• Reasonable prices
• 24/7 Customer Support
• Get superb grades consistently

Online Academic Help With Different Subjects

Literature

Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.

Finance

Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.

Computer science

Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!

Psychology

While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.

Engineering

Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.

Nursing

In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.

Sociology

Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.

Business

We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!

Statistics

We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.

Law

Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.

What discipline/subjects do you deal in?

We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.

Are your writers competent enough to handle my paper?

Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.

What if I don’t like the paper?

There is a very low likelihood that you won’t like the paper.

Reasons being:

• When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
• We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.

In the event that you don’t like your paper:

• The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
• We will have a different writer write the paper from scratch.
• Last resort, if the above does not work, we will refund your money.

Will the professor find out I didn’t write the paper myself?

Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.

What if the paper is plagiarized?

We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.

When will I get my paper?

You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.

Will anyone find out that I used your services?

We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.

How our Assignment Help Service Works

1. Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2. Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3. Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4. Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.

GET A PERFECT SCORE!!!

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