International Business: Session 1

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"International Business: Session 1" What is international business? business transactions between parties from more than one country; sourcing, manufacturing, selling, developing; parties may include.

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International Business Session 1
What is International Business? Business transactions between parties from more than one country Sourcing,Manufacturing, Selling, Developing Parties may include ◦ Private individuals ◦ Individual companies ◦ Groups of companies
Why Study International Business? Today’s business environment is global. Conducting international business presents unique risks, challenges and opportunities. ASK YOURSELF: is your company maximizing the opportunities of global business across the value chain?
Key Objectives Learn to: 1. Understand the global business environment and how it is different from the national environment. 2. Select between the different modes of international business 3. Analyze and react to different cultural contexts 4. Research and evaluate global markets. 5. Assess how countries can shape global
International vs. Domestic OPPORTUNITIES 1. Seek opportunities for growth through market diversification 2. Gainnew ideas about products, services, and business methods 3. Better serve key customers that have relocated abroad 4. Be closer to supply sources, benefit from global sourcing advantages, or gain flexibility in the sourcing of products
International vs. Domestic OPPORTUNITIES 5. Gain access to lower-cost or better- value factors of production 6. Develop economies of scale in sourcing, production, marketing, and R&D 7. Confront international competitors more effectively or thwart the growth of competition in the home market
International vs. Domestic RISKS 1. Cross-cultural risk: a situation or event where a cultural miscommunication puts some human value at stake 2. Country risk: potentially adverse effects on company operations and profitability holes by developments in the political, legal, and economic environment in a foreign country 3. Currency risk: risk of adverse unexpected fluctuations in exchange
Basic Indicators of International Business Balance of Payments ◦ http://www.cnb.cz/en/statistics/bop_stat/bop_q Indices ◦ Demographic ◦ Economic ◦ Business ◦ Social and Technological
Balance of Payments (BOP) Accounting System Measures and records all economic transactions between residents of one country and residents of all other countries during specified time period Provides understanding of performance of each country’s economy in international markets Signals fundamental changes in country competitiveness Assists policy makers in designing appropriate public policies Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 7-11
Major Components of the BOP Accounting System Current Account Capital Account Official Reserves Errors and Omissions Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 7-12
Table 7.6. U.S. Balance of Payments in 2007 7-13 Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall
Population vs. GDP as percentage of world total
World Population 2010
Demographics 16
China India Population Pyramids
Purchasing Power Parity (PPP)
World GDP 2008
Per Capita GDP