Chapter5EconomicEnvironmentforInternationalBusinessLearningobjectivesHavingreadthischapteryoushouldbeableto:BeawareoftheeffectofworldeconomiccrisisoninternationalbusinessIdentifythetrendsinworldtradeExplorethemeasurementofinternationaltradelearnthestrategiesforsuccessfullydevelopinganoverseasmarketWarm-up:TheongoingfinancialcrisisStartingfromthebankruptcyofLemanBrothersinAmericaon5thSeptember.Thedirectinducement:thesubprimemortgagecrisistakingplaceatWallStreetsinceAugust.ThesubprimemortgageItisatypeofmortgagethatisnormallymadeouttoborrowerswithlowercreditratings.Lendinginstitutionsoftenchargeinterestonsubprimemortgagesataratethatishigherthanaconventionallevelinordertocompensatethemselvesforcarryingmorerisk.AmericanhousingbubblePriorto2005thesoaringhousingpriceRemortgagingrealestate,purchasedonloan,transformedintoacreditcardTherealestatepricehasdramaticallydeclinedeversince2006,resultingintheimmediateruptureofchainofpaymentonloanTheburstingofAmericanhousingbubblespreadtothewholedomesticfinancialindustry,thenworldwide.Theongoingfinancialcrisis“fakeprosperity〞Americanfinancialsystem:Omnipotent(全能的,无所不能的)AstothecurrentworldwiderecessionAmericangovernmenthastobearmostoftheresponsibilityintheaspectsofindulgingloosesupervisionandturningablindeyetotheineligibleloan.AmericanconsumptionculturecrisisText:TheInternationalEconomicEnvironmentThetrendtowardsaglobalbusinessenvironmentFirms’reasonsforgoingglobalMeasuringinternationaltradeMarketentrystrategiesIntroductionManybusinessorganizationsrecognizethattheirgrowthcancontinueonlyiftheyexploitoverseasmarkets.However,enteringoverseasmarketscanbeextremelyrisky.Therefore,agoodunderstandingoftheinternationaleconomicenvironmentcanbeofgoodhelp.E.g.McDonald’sinitialfailureintheUKmarketinthe1970s.internationaleconomicenvironmentsTradepatternsandstrategiesthroughouttheworldchangeinresponsetochangesintheinternationaleconomicenvironments.E.g.duringthefirstyearsofthetwenty-firstcentury,therisingGDPpercapitaofChinahasresultedinChineseconsumerspurchasingincreasingnumbersofoverseasholidays.Measuringinternationaltradebalanceofpayment:Thedifferencebetweenwhatacountryreceivesfromoverseasandtheamountitspendsoverseas.(国际收支平衡)currentaccount(经常帐户)transactions;thepurchaseandsaleofgoodsandservicescurrentaccountcapitalaccount(资本帐户)transactions;theacquisitionanddisposalofassetsandliabilitiesabroadCurrentaccount&capitalaccountThecurrentaccountisgenerallyfurtherdividedinto:Avisibletradebalance,includingtransactionsinmanufacturedgoods,rawmaterialsandfuelproducts;Aninvisibletradebalance,madeupofservicesThecapitalaccountrecordsoutwardandinwardflowsofcapitalforinvestmentpurposes.Itincludespaymentsmadeforlong-terminvestmentintangibleassets(有形资产).andintangibleassets(无形资产),andshort-termmovementsofmoneybetweentradersinthemoneymarkets.MarketentrystrategiesAcompany’smarketentrystrategyshouldaimtobalancebetweenapotentialopportunityandarisktoanorganization.Theleastriskymethodofdevelopingaforeignmarketistosupplythatmarketfromadomesticbase.Marketentryriskreductionstrategiesalsohaveatimedimension.E.g.McDonald’sandBurgerKingintheturbulentbusinessenvironmentofEasternEuropeinthelate1980s,ArangeofentrypossibilitiesExporting:whereeconomiesofscaleinproductionarehighandtransportcostsarelowDirectinvestmentinaforeignsubsidiary:maximumcontrol,butexposuretoahighlevelofriskGlobale-commerce:theInternethasofferednewopportunitiesLicensing/franchising:followingaproductformulationcloselyandtomaintainingconsistentstandardsofqualityandgrandimage.Jointventures:apartnershipbetweenadomesticcompanyandaforeigncompanyorgovernmentJointventurestheinitialcapitalrequirementthresholdishigh,resultinginahighlevelofriskoverseasgovernmentsrestricttherightsofforeigncompaniestosetupbusinessontheirownaccount,makingapartnershipwithalocalcompany–possiblyinvolvingaminorityshareholding–theonlymeansofenteringthemarkettheremaybesignificantbarrierstoentrywhichacompanyalreadybasedintheforeignmarketcouldhelptoovercometaxationofcompanyprofitsmayfavorajointventureratherthanowninganoverseassubsidiaryoutright.Keytermscultureconvergence文化趋同marketssegments市场细分GDPpercapita人均国内生产总值BalanceofPayment国际收支平衡
表
关于同志近三年现实表现材料材料类招标技术评分表图表与交易pdf视力表打印pdf用图表说话 pdf
visibletrade有形贸易invisibletrade无形贸易currentaccount经常帐户capitalaccount资本帐户jointventure合资企业marketentrystrategy市场进入战略SummaryofkeypointsTherearevariousreasonsforthetrendofglobalizationofthebusinessenvironment.“Pull〞factorsforcompaniesgoingglobalaretoseekgrowthandgainaccesstonewmarkets,toachieveeconomiesofscale.“Push〞factors:thenatureofafirm’sproductrequiresthefirmtogoglobal,somefirmswhosedomesticmarketistoosmalltoalloweconomiesofscaleAchiefmethodofmeasuringinternationaltradeisonecountry’sbalanceofpayment,consistingofcurrentaccountandcapitalaccount.Whenenteringaforeignmarket,companieschoosevariousstrategiestoreducemarketentryrisk.ComprehensionquestionsSummarizethe“pull〞factorsand“push〞factorsoffirms’reasonforgoingglobal.Whatarethekeymethodsofmeasuringinternationaltrade?WhatarethemaincomponentsoftheBOP(balanceofpayment)?Illustratethemainmarketentrystrategies.Giveatleastthreereasonsfortheglobalizationofbusinessenvironment.ApplyyourunderstandingWhatthedifferencebetweenthemerchandisetradebalanceandthecurrentaccountbalance?Whymustacountry’sbalanceofpaymentsalwaysbebalancedintheory?FindamultinationalcompanyhavingbusinesswithChinaandidentifyitsmarketentrystrategies.EssayquestionsSupposethewell-knownUKhotelgroupLeRitzistodevelopanewlocationinIndia,whatculturaldifferencesmightbeencounteredandcauseproblems?Casestudy:ChineseFirm’sIncentivesforForeignAcquisitionsCase-relatedquestions:1.Whatdoyouthinkoftheauthor’sargument?2.HowdoyouevaluatetheopportunitiesandrisksindoingbusinesswithChina?3.What’syoursuggestionforforeigncompaniesdoingbusinesswithChina?Point-CounterpointHelpingDevelopingNations:AidorTrade?PointAidisbetterthantrade.Manyexpertsbelievethatthedevelopmentofthelessdevelopedcountriesisdependentonaid.Aidsaremainlyusedtofinanceinfrastructureprojectsandalleviatehumansufferingdirectly.Aidalsomaybepreferabletotradebecauseitcreatesfewerpoliticalproblemsinthedonor’scountryCounterpointTradeispreferabletoaid.Tradeprovidesjobsforresidentsoflessdevelopedcountries.Thewagesgeneratesdemandforlocalbusinessesandemploymentopportunitiesforlocalresidents.Moreimportant,asdomesticfirmsexpandtheirexports,theirmanagersandemployeeslearnnewskillsandtechniquesforproducingandmarketinggoods.FailuresofaidprogramsWebalert:///WorldTradeOrganization,providesinformationoninternationaltradedevelopments,statistics,WTOdocumentsandpolicies.:///InternationalMonetaryFund,whichcontainsIMFnews,publicationsandinternationaleconomicinformation.://CountryRiskAnalysis,whichisarichsourceofhistoricaldataaboutworldtradingmarkets.Itdiscusseseconomic,financialandpoliticaleventswhichimpactoninternationaltrade.://OrganizationforEconomicCo-operationandDevelopment(OECD):InternationalTrade.TheOECD’sdatabaseoninternationaltradeshowsthevalueofeachmembercountry’sexportsandimportsofgoodsandservicesbytype.://FinancialTimes.Thenewspaper’sarchiveincludescountryreportsFurtherreadingWorldTradeOrganization,AnnualReport,publishedannuallyWorldTradeOrganization,TradePolicyReview(serial)Mockler,R.J.(2000)MultinationalStrategicAlliances,Chichester,JohnWileyKeegan,W.J.(2003)GlobalMarketing,FTPrenticeHallAssignmentBecauseeverysystemdisplaysatendencytowardindividual-orgroup-orientedeconomicvalues,somewesternscholarsorganizesystemsalongacontinuumthatcharacterizesthemascentralplanned,,mixed,ormarketeconomies.Readarticlesontherelatedtopicandwriteabriefsummaryofthebasicandgeneralfeaturesofthem,takingthedevelopmentofChineseeconomyintoyourconsideration.ThankYou!