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business
introduction global business
Global Business Today 9th Edition Charles Hill - Solutions
2. The use of bribery in the business setting is an important ethical dilemma many companies face both domestically and abroad. The Bribe Payers Index is a study published every three years to assess the likelihood of firms from 28 leading economies to win business overseas by offering bribes. It
1. Promoting respect for universal human rights is a central dimension of many countries’ foreign policy.As history has shown, human rights abuses are an important concern worldwide. Some countries are more ready to work with other governments and civil society organizations to prevent abuses of
4. Do you think that bitcoins were created as a weapon intended to damage central banking and money-issuing banks?Bitcoin is an open-source, peer-to-peer digital currency introduced to the world on January 3, 2009, by developer Satoshi Nakamoto. The cryptocurrency is based on a protocol and
3. Do you think the bitcoin system is “evil” as Paul Krugman suggests?Is it similar to a Ponzi scheme?Bitcoin is an open-source, peer-to-peer digital currency introduced to the world on January 3, 2009, by developer Satoshi Nakamoto. The cryptocurrency is based on a protocol and software that
2. If bitcoins are used to buy drugs, firearms, or other products that are considered illegal in the country in which the bitcoins are being used, does that make bitcoins unethical?Bitcoin is an open-source, peer-to-peer digital currency introduced to the world on January 3, 2009, by developer
1. Do you think bitcoins are approaching being unethical monetary instruments without technically carrying a value similar to “real”money?Bitcoin is an open-source, peer-to-peer digital currency introduced to the world on January 3, 2009, by developer Satoshi Nakamoto. The cryptocurrency is
13. The value systems and norms of a country can affect the costs of doing business in that country.
12. One danger confronting a company that goes abroad for the first time is being ill-informed. To develop cross-cultural literacy, international businesses need to employ host-country nationals, build a cadre of cosmopolitan executives, and guard against the dangers of ethnocentric behavior.
11. Culture is not a constant; it evolves. Economic progress and globalization seem to be two important engines of cultural change.
10. Geert Hofstede studied how culture relates to values in the workplace. He isolated five dimensions that he claimed summarized different cultures: power distance, uncertainty avoidance, individualism versus collectivism, masculinity versus femininity, and longterm versus short-term orientation.
9. Formal education is the medium through which individuals learn skills and are socialized into the values and norms of a society. Education plays an important role in the determination of national competitive advantage.
8. Language is one defining characteristic of a culture. It has both spoken and unspoken dimensions. In countries with more than one spoken language, we tend to find more than one culture.
7. Religion may be defined as a system of shared beliefs and rituals that is concerned with the realm of the sacred. Ethical systems refer to a set of moral principles, or values, that are used to guide and shape behavior. The world’s major religions are Christianity, Islam, Hinduism, and
6. All societies are stratified into different classes.Class-conscious societies are characterized by low social mobility and a high degree of stratification.Less class-conscious societies are characterized by high social mobility and a low degree of stratification.
5. In some societies, the individual is the basic building block of social organization. These societies emphasize individual achievements above all else. In other societies, the group is the basic building block of social organization. These societies emphasize group membership and group
4. The social structure of a society refers to its basic social organization. Two main dimensions along which social structures differ are the individual–group dimension and the stratification dimension.
3. Values and norms are influenced by political and economic philosophy, social structure, religion, language, and education.
2. Values and norms are the central components of a culture. Values are abstract ideals about what a society believes to be good, right, and desirable. Norms are social rules and guidelines that prescribe appropriate behavior in particular situations.
1. Culture is a complex whole that includes knowledge, beliefs, art, morals, law, customs, and other capabilities acquired by people as members of society.
6. Reread the Management Focus on DMG-Shanghai and answer the follow questions:a. Why do you think it is so important to cultivate guanxi and guanxiwang in China?b. What does the experience of DMG tells us about the way things work in China? What would likely happen to a business that obeyed all
5. Reread the Country Focus about Islamic capitalism in Turkey. Then, answer the following questions:a. Can you see anything in the values and norms of Islam that is hostile to business?b. What does the experience of the region around Kayseri teach about the relationship between Islam and
4. Choose two countries that appear to be culturally diverse. Compare the cultures of those countries, and then indicate how cultural differences influence (a) the costs of doing business in each country, (b) the likely future economic development of that country, and (c)business practices.
3. What are the implications for international business of differences in the dominant religion or ethical system of a country?
2. Do you think that business practices in an Islamic country are likely to differ from business practices in a Christian country? If so, how?
1. Outline why the culture of a country might influence the costs of doing business in that country. Illustrate your answer with examples.
4. Using Dubai as an example, do you believe that cultural similarities among people can outweigh cultural differences that exist in terms of doing business together in the future?The United Arab Emirates (UAE) was established in 1971 and is a country located in the Middle East. The country is
3. If you were in a position to advise a Western company that was considering doing business in UAE for the first time, what would your advice be?The United Arab Emirates (UAE) was established in 1971 and is a country located in the Middle East. The country is often called “the Emirates” or
2. What kinds of misunderstanding, if any, are likely to arise between Western-based visitors and people from the UAE during World Expo 2020?The United Arab Emirates (UAE) was established in 1971 and is a country located in the Middle East. The country is often called “the Emirates” or simply
1. What forces shaped the culture in the country of UAE and Dubai in particular? How similar or different are these forces from those that shaped the culture of Western nations?The United Arab Emirates (UAE) was established in 1971 and is a country located in the Middle East. The country is often
5-5 Explain how managers can incorporate ethical considerations into their decision making.
5-4 Describe the different philosophical approaches to ethics.
5-3 Identify the causes of unethical behavior by managers.
5-2 Recognize an ethical dilemma.
5-1 Understand the ethical issues faced by international businesses.
2. Managers at your firm are very concerned about the influence of terrorism on its long-term strategy. To counter this issue, the CEO has indicated you must identify the countries where terrorism threat and political risk are minimal. This will provide the basis for the development of future
1. Increased instability in the global marketplace can introduce unanticipated risks in a company’s daily transactions. As such, your company must evaluate these commercial transaction risks for its foreign operations in Argentina, China, Egypt, Poland, and South Africa. A risk analyst at your
3. Reread the Country Focus on India, and answer the following questions:a. What kind of economic system did India operate under during 1947–1990? What kind of system is it moving toward today? What are the impediments to completing this transformation?b. How might widespread public ownership of
2. You are a senior manager in a U.S. automobile company considering whether to invest in production facilities in China, Russia, or Germany. These facilities will serve local market demand. Evaluate the benefits, costs, and risks associated with doing business in each nation.Which country seems
1. What is the relationship among property rights, corruption, and economic progress? How important are anticorruption efforts in the effort to improve a country’s level of economic development?
4. Political risks in Egypt seem to be increasing again, and the country seems to be retreating from democracy, largely due to intervention by the military.As a manager in an international business, how would the current turmoil and political uncertainty in Egypt influence your investment
3. What dangers do you see in the current trajectory of the Egyptian economy? What are the implications of these dangers for foreign companies that might consider doing business in Egypt? What do you think it would take to encourage more foreigners to visit, invest, and do business in Egypt? Would
2. What do you think the Egyptian government needs to do in order to get the economy growing again and to attract foreign capital? What are the risks to the government of taking such actions?With 83 million people, Egypt is the most populous Arab state. On the face of it, Egypt made significant
1. What were the underlying causes, economic and political, of the collapse of the Mubarak regime?With 83 million people, Egypt is the most populous Arab state. On the face of it, Egypt made significant economic progress during the 2000s. In 2004, the government of Hosni Mubarak enacted a series of
4-5 Demonstrate an appreciation for the economic and business implications of cultural change.
4-4 Recognize how differences in social culture influence values in business.
4-3 Identify the business and economic implications of differences in culture.
4-2 Identify the forces that lead to differences in social culture.
4-1 Explain what is meant by the culture of a society.
6. What does Ghana need to do to remain on its current track of sustained economic growth?The West African nation of Ghana has emerged as one of the fastestgrowing countries in sub-Saharan Africa during the last decade. Between 2000 and 2013, Ghana’s average annual growth rate in GDP was over 7.5
5. What is the difference between the approach of Nigeria toward oil revenues and that of Ghana (the Nigerian experience is documented in the Country Focus feature in this chapter)? Which approach is in the best long-run interests of the country?The West African nation of Ghana has emerged as one
4. If Ghana had discovered large oil reserves in the 1980s, instead of the 2000s, do you things might have played out differently? Why?The West African nation of Ghana has emerged as one of the fastestgrowing countries in sub-Saharan Africa during the last decade. Between 2000 and 2013, Ghana’s
3. What external forces helped to persuade Rawlings to change political and economic practices in Ghana? Do you think he would have made the changes he did without these external forces?The West African nation of Ghana has emerged as one of the fastestgrowing countries in sub-Saharan Africa during
2. What where the main changes that Gerry Rawlings made in the Ghanaian political and economic systems? What were the consequences of these changes? What are the lessons here?The West African nation of Ghana has emerged as one of the fastestgrowing countries in sub-Saharan Africa during the last
1. After gaining independence from Britain, Ghana’s economy languished for three decades. Why was this the case? What does the Ghana experience teach you about the connection between economic and political systems and economic growth?The West African nation of Ghana has emerged as one of the
5. Read the Country Focus on Venezuela under the leadership of Hugo Chávez; then answer the following questions:a. Under Chávez’s leadership, what kind of economic system was put in place in Venezuela?How would you characterize the political system?b. How do you think that Chávez’s
3. What is the relationship between corruption in a country (i.e., government officials taking bribes) and economic growth? Is corruption always bad?
3-4 Explain the implications for management practice of national difference in political economy.
3-3 Describe how transition economies are moving toward market-based systems.
3-2 Identify the macropolitical and macroeconomic changes occurring worldwide.
3-1 Explain what determines the level of economic development of a nation.
4. On balance, do you think that the kind of outsourcing undertaken by Apple is a good thing or a bad thing for the American economy?Explain your reasoning?In its early days, Apple usually didn’t look beyond its own backyard to manufacture its devices. A few years after Apple started to make the
3. What are the potential ethical problems associated with outsourcing assembly jobs to Foxconn in China? How might Apple deal with these?In its early days, Apple usually didn’t look beyond its own backyard to manufacture its devices. A few years after Apple started to make the Macintosh computer
2. In addition to Apple, who else benefits from Apple’s decision to outsource assembly to China? Who are the potential losers here?In its early days, Apple usually didn’t look beyond its own backyard to manufacture its devices. A few years after Apple started to make the Macintosh computer back
1. What are the benefits to Apple of outsourcing the assembly of the iPhone to foreign countries, and particularly China? What are the potential costs and risks to Apple?In its early days, Apple usually didn’t look beyond its own backyard to manufacture its devices. A few years after Apple
2. You are working for a company that is considering investing in a foreign country. Investing in countries with different traditions is an important element of your company’s long-term strategic goals. As such, management has requested a report regarding the attractiveness of alternative
1. As the drivers of the globalization continue to pressure both the globalization of markets and globalization of production, we continue to see the impact of greater globalization on worldwide trade patterns. HSBC, a large global bank, analyzes these pressures and trends to identify opportunities
14-5 Describe how countertrade can be used to facilitate exporting.
14-4 Recognize the basic steps involved in export financing.
14-3 Identify information sources and government programs that exist to help exporters.
14-2 Identify the steps managers can take to improve their firm’s export performance.
14-1 Explain the promises and risks associated with exporting.
12-5 Explain the pros and cons of using strategic alliances to support global strategies.
12-4 Identify the different strategies for competing globally and their pros and cons.
12-3 Understand how pressures for cost reductions and pressures for local responsiveness influence strategic choice.
12-2 Recognize how firms can profit by expanding globally.
12-1 Explain the concept of strategy.
10-6 Compare and contrast the differences among translation, transaction, and economic exposure, and what managers can do to manage each type of exposure.
10-5 Identify the merits of different approaches toward exchange rate forecasting.
10-4 Understand the different theories explaining how currency exchange rates are determined and their relative merits.
10-3 Recognize the role that forward exchange rates play in insuring against foreign exchange risk.
10-2 Understand what is meant by spot exchange rates.
10-1 Describe the functions of the foreign exchange market.
6-5 Understand the important implications that international trade theory holds for business practice.
6-4 Explain the arguments of those who maintain that government can play a proactive role in promoting national competitive advantage in certain industries.
6-3 Recognize why many economists believe that unrestricted free trade between nations will raise the economic welfare of countries that participate in a free trade system.
6-2 Summarize the different theories explaining trade flows between nations.
6-1 Understand why nations trade with each other.
2-4 Explain the implications for management practice of national differences in political economy.
2-3 Understand how the legal systems of countries differ.
2-2 Understand how the economic systems of countries differ.
2-1 Understand how the political systems of countries differ.
1-5 Understand how the process of globalization is creating opportunities and challenges for business managers.
1-4 Explain the main arguments in the debate over the impact of globalization.
1-3 Describe the changing nature of the global economy.
1-2 Recognize the main drivers of globalization.
1-1 Understand what is meant by the term globalization.
•explain how the balanced scorecard links strategy formulation to financial outcomes.
•describe three competitive strategies that a firm can adopt to achieve sustainable competitive advantage and explain how they influence management accounting practices;
•describe the learning curve and compute the average and incremental labour hours for different output levels.
•identify and explain the six steps required to estimate cost functions from past data;
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