International Business and the Global Economy

Paper Summary:

This paper explores the growth and success of multinational organizations today. The paper then discusses the need for a company to be aware of the language, culture, politics and laws of the country it is expanding into. The paper also explains the law of comparative costs in international trade, how the international financial market works, the factors that have affected the process of economic globalization and the role of strategic planning in international business. The paper predicts that the future of international business is bright.

Outline:
Abstract
The International Business Imperative
Culture and International Business
National Trade and Investment Policies
Politics and Laws
The Theory of International Trade and Investment
The International Economic Activity of the Nation: The Balance of Payments
International Financial Markets
Economic Integration
Market Transitions and Development
International Business Research
International Business Entry
Multinational Corporations
Strategic Planning in International Business
International Marketing
International Services
International Logistics and Supply-Chain Management
Multinational Financial Management
Countertrade
International Accounting and Taxation
International Human Resource Management
Organization, Implementation, and Control of International Operations, and their Future

From the Paper:

"Revolutionary changes in technologies have provided the mechanisms that propel the growth of international business. The intensification of competition at both domestic and international levels has driven firms to look beyond their domestic markets for new opportunities. The progressive removal of barriers to trade and capital movements has stimulated greater flows of exports, imports and foreign direct investment (FDI). Multinational enterprises have emerged as the key agents of international economic co-ordination. They provide the capability to generate innovations and deliver new goods and services to the market; they also provide the capability to exploit these technological advances at a global level; and they are a depiction of the capacity of international managerial co-ordination to operate efficiently across international boundaries. Furthermore, the growing economic strength of the newly-industrializing countries (e.g. Taiwan, Hong Kong, Singapore, Korea) and the opening up of China and Eastern Europe have provided an additional stimulus to international business activities (Wei)."

Sample of Sources Used:

• "1996 National Trade." 1996. 1996 National Trade Estimate - European Union. 21 June2001. <www.ustr.gov/>.
• "Accounting and Taxation." 21 June 2001. Accounting and Taxation of International Companies. 21 June 2001. <www.inter-shore.com>.
• "Atlas Venture." Strategic Planning. 21 June 2001. <www.atlasventure.com>.
• "Belize Offshore Consultants." 1999. Belize Offshore Consultants, Inc. 21 June 2001. <www.offshorebiz.com>.
• Cox, Ronald W. 1994. Power and Profits: U.S. Policy in Central America. Lexington: University Press of Kentucky.

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