国际商务课后习题参考答案.docx
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国际商务课后习题参考答案.docx
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国际商务课后习题参考答案
Chapter1:
Globalization
1.Describetheshiftsintheworldeconomyoverthelast30years.WhataretheimplicationsoftheseshiftsforinternationalbusinessesbasedinGreatBritain?
NorthAmerica?
HongKong?
Answer:
Theworldeconomyhasshifteddramaticallyoverthepast30years.Aslateasthe1960s,fourstylizedfactsdescribedthedemographicsoftheglobaleconomy.ThefirstwasU.S.dominanceintheworldeconomyandworldtrade.ThesecondwasU.S.dominanceintheworldforeigndirectinvestmentpicture.Relatedtothis,thethirdfactwasthedominanceoflarge,multinationalU.S.firmsintheinternationalbusinessscene.Thefourthwasthatroughlyhalfoftheglobe-thecentrallyplannedeconomiesoftheCommunistworld-wasoff-limitstoWesterninternationalbusinesses.Allofthesedemographicfactshavechanged.AlthoughtheU.S.remainstheworld'sdominanteconomicpower,itsshareofworldoutputandworldexportshavedeclinedsignificantlysincethe1960s.ThistrenddoesnotreflecttroubleintheU.S.economy,butratherreflectsthegrowingindustrializationofdevelopingcountriessuchasChina,India,Indonesia,andSouthKorea.Thistrendisalsoreflectedintheworldforeigndirectinvestmentpicture.AsdepictedinFigure1.2inthetextbook,theshareofworldoutput(orthestockofforeigndirectinvestment)generatedbydevelopingcountrieshasbeenonasteadyincreasesincethe1960s,whiletheshareofworldoutputgeneratedbyrichindustrialcountrieshasbeenonasteadydecline.Shiftsintheworldeconomycanalsobeseenthroughtheshiftingpowerofmultinationalenterprises.Sincethe1960s,therehavebeentwonotabletrendsinthedemographicsofthemultinationalenterprise.Thefirsthasbeentheriseofnon-U.S.multinationals,particularlyJapanesemultinationals.Thesecondhasbeentheemergenceofagrowingnumberofsmallandmedium-sizedmultinationals,calledmini-multinationals.ThefallofCommunisminEasternEuropeandtherepublicsoftheformerSovietUnionhavebroughtaboutthefinalshiftintheworldeconomy.ManyoftheformerCommunistnationsofEuropeandAsiaseemtoshareacommitmenttodemocraticpoliticsandfreemarketeconomies.SimilardevelopmentsarebeingobservedinLatinAmerica.Ifthesetrendscontinue,theopportunitiesforinternationalbusinessmaybeenormous.TheimplicationsoftheseshiftsaresimilarforNorthAmericaandBritain.TheUnitedStatesandBritainoncehadtheluxuryofbeingthedominantplayersintheworldarena,withlittlesubstantivecompetitionfromthedevelopingnationsoftheworld.Thathaschanged.Today,U.S.andBritishmanufacturersmustcompetewithcompetitorsfromacrosstheworldtowinorders.ThechangingdemographicsoftheworldeconomyfavoracitylikeHongKong.HongKong(whichisnowunderChineserule)iswelllocatedwitheasyaccesstomarketsinJapan,SouthKorea,Indonesia,andotherAsianmarkets.HongKonghasavibrantlaborforcethatcancompeteonparwiththeindustrializednationsoftheworld.ThedeclineintheinfluenceoftheU.S.andBritainontheglobaleconomyprovidesopportunitiesforcompaniesinHongKongtoaggressivelypursueexportmarkets.
2."Thestudyofinternationalbusinessisfineifyouaregoingtoworkinalargemultinationalenterprise,butithasnorelevanceforindividualswhoaregoingtoworkinsmallerfirms."Evaluatethisstatement.
Answer:
Peoplewhobelieveinthisview,andthefirmsthattheyworkfor,mayfindthattheydonotachievetheirfullpotential(atbest)andmayultimatelyfailbecauseoftheirmyopia.Asbarrierstotradedecreaseandstateofthearttechnologicaldevelopmentstakeplacethroughouttheworld,newopportunitiesandthreatsexistonaworldwidebasis.Theriseofthemini-multinationalssuggeststhereareglobalopportunitiesevenforsmallfirms.Butstayingattunedtointernationalmarketsisnotonlyimportantfromtheperspectiveofseekingprofitableopportunitiesforsmallfirms;itcanalsobecriticalforlong-termcompetitivesurvival.Firmsfromothercountriesmaybedevelopingproductsthat,ifsoldinternationally,maywipeoutsmalldomesticcompetitors.Scanninginternationalmarketsforthebestsuppliersisalsoimportantforsmallfirms,forifadomesticcompetitorisabletotapintoasuperiorsupplierfromaforeigncountry,itmaybeabletoseriouslyerodeasmallfirm'scompetitivepositionbeforethesmallfirmunderstandsthesourceofitscompetitor'scompetitiveadvantageandcantakeappropriatecounteractions.
3.Howhavechangesintechnologycontributedtotheglobalizationofmarketsandofproduction?
Wouldtheglobalizationofproductionandmarketshavebeenpossiblewithoutthesetechnologicalchanges?
Answer:
Changesintechnologyhavecontributedtotheglobalizationofmarketsandofproductioninaverysubstantivemanner.Forinstance,improvementsintransportationtechnologyhavepavedthewayforcompanieslikeCoca-Cola,LeviStrauss,SonyandMcDonaldstomaketheirproductsavailableworldwide.Similarly,improvementsincommunicationstechnologyhavehadamajorimpact.Theabilitytonegotiateacrosscontinentshasbeenfacilitatedbyimprovedcommunicationstechnology,andtherapidlydecreasingcostofcommunicationshasloweredtheexpenseofcoordinatingandcontrollingaglobalcorporation.Finally,theimpactofinformationtechnologyhasbeenfarreaching.CompaniescannowgainworldwideexposuresimplybysettingupahomepageontheInternet.Thistechnologywasnotavailablejustafewshortyearsago.Theglobalizationofproductionandmarketsmayhavebeenpossiblewithoutimprovementsintechnology,butthepaceofglobalizationwouldhavebeenmuchslower.Thefallingcostoftechnologyhasmadeitaffordableformanydevelopingnations,whichhasbeeninstrumentalinhelpingthesenationsimprovetheirshareofworldoutputandworldexports.Theinclusionofthesenations,suchasChina,India,Thailand,andSouthKorea,hasbeeninstrumentalintheglobalizationofmarketsandproduction.Inaddition,improvementsinglobaltransportationandcommunicationhavemadeitrelativelyeasyforbusinessexecutivesfromdifferentcountriestoconversewithoneanother.Iftheseformsoftechnology,includingair-travel,faxcapability,e-mail,andovernightdeliveryofpackageswerenotavailable,itwouldbemuchmoredifficultforbusinessestoconductinternationaltrade.
4."Ultimately,thestudyofinternationalbusinessisnodifferentfromthestudyofdomesticbusiness.Thus,thereisnopointinhavingaseparatecourseoninternationalbusiness."Evaluatethisstatement.
Answer:
Thisstatementreflectsapoorunderstandingoftheuniquechallengesinvolvedininternationalbusiness.Managinganinternationalbusinessisdifferentfrommanagingapurelydomesticbusinessforatleastfourreasons.Theseare:
(1)countriesaredifferent;
(2)therangeofproblemsconfrontedbyamanagerinaninternationalbusinessiswiderandtheproblemsthemselvesmorecomplexthanthoseconfrontedbyamanagerinadomesticbusiness;(3)aninternationalbusinessmustfindwaystoworkwithinthelimitsimposedbygovernmentinterventionintheinternationaltradeandinvestmentsystem;and(4)internationaltransactionsinvolveconvertingmoneyintodifferentcurrencies.Asaresultofthesedifferences,thereareamplereasonsforstudyinginternationalbusinessasaspecificfieldofstudyordiscipline.
5.HowmighttheInternetandtheassociatedWorldWideWebimpactinternationalbusinessactivityandtheglobalizationoftheworldeconomy?
Answer:
Accordingtothetext,theInternetandWorldWideWeb(WWW)promisetodevelopintotheinformationbackgroundoftomorrow'sglobaleconomy.Thisimprovedtechnologywillnotonlymakeiteasierforindividualsandcompaniesindifferentcountriestoconductbusinesswithoneanother,butwillalsofurtherdecreasethecostofcommunications.Theseimprovementswillundoubtedlyhastenthealreadyrapidpaceofglobalization.AnotherdistinctattributeoftheInternetandtheWWWisthattheyactasanequalizerbetweenlarge(resourcerich)andsmall(resourcepoor)firms.Forinstance,itdoesnotcostanymoreforasmallsoftwarefirmtogainvisibilityviatheWWWthanitdoesforalargesoftwarecompanylikeMicrosoft.Asaresult,theWWWhelpssmallcompaniesreachthesizeofaudiencethatwaspreviouslyonlywithinthereachoflarge,resourcerichfirms.
6.Ifcurrenttrendscontinue,Chinamayemergeastheworld'slargesteconomyby2020.Discussthepossibleimplicationsofsuchadevelopmentfor
(1)Theworldtradingsystem.
(2)Theworldmonetarysystem.(3)Thebusinessstrategyoftoday'sEuropeanandU.S.basedglobalcorporations.
(4)Globalcommodityprices.
Answer:
Theworldtradingsystemwouldclearlybeaffectedbysuchadevelopment.CurrentlyChinaenjoysasomewhatprivilegedstatuswithintheWorldTradeOrganizationasa“developing”country.Sucharisetoeminence,however,wouldclearlyforceittobecomeafullandequalmember,withalltherightsandresponsibilities.Chinawouldalsobeinapositiontoactivelyaffectthetermsoftradebetweenmanycountries.Onthemonetaryfront,onewouldexpectthatChinawouldhavetohavefullyconvertibleandtradingcurrency,anditcouldbecomeoneofthe“benchmark”currenciesoftheworld.FromtheperspectiveofWesternglobalfirms,Chinawouldrepresentbothahugemarket,andpotentiallythehomebaseofsomeverycapablecompetitors.Finally,commoditypriceswouldprobablyfall.
7.ReadtheCountryFocusinthischapterontheEcuadorianroseindustry,theanswerthefollowingquestions:
a)Howhasparticipationintheinternationalrosetradehelp
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