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International Management
International management is the process of:
Applying management concepts and techniques in a multinational environment; Adapting management practices to different economic, political, and cultural environments.
The Worlds Top Nonfinancial MNCs from Developed Countries (ranked by foreign assets, 2004)
The Worlds Top Nonfinancial MNCs from Developing Countries (ranked by foreign assets, 2004)
Globalization???
Benefits of Globalization:
1) 2) 3) 4) wealth jobs technology lower prices
Criticisms of Globalization:
1) 2) 3) 4) off-shoring of business service jobs to lower-wage countries growing trade deficits slow wage growth environmental and social impacts
BRIC Countries
1) 2) 3) 4) Brazil Russia India China
The Worlds Largest Economies 2005 and 2020 (Projected) Measured by GDP at Market Exchange Rates:
International Trade:
1) Over of world trade accounted for by United States, European Union and Japan 2) Increased substantially over last two decades
Command Economy:
in this case the government, has explicit control over the price and supply of a good or service.
United States:
1) Foreign MNCs find U.S. a lucrative expansion market 2) Foreign firms welcomed as investors in U.S. market 3) U.S. firms hold market dominance in many European markets; gaining market share in Asia
Major development is inter-country trade, including free market policies among South American countries
South American countries increasingly looking to do business with U.S.
Economic linkages between the EU and newly emerging Central and Eastern European countries Challenge is to absorb former communist bloc countries Foreign MNCs gain foothold in EU by: Acquisitions, Alliances, Cooperative R&D efforts
Hong Kong
Now part of Peoples Republic of China Uncertainty about the role the Chinese government intends to play in local governance
Taiwan
Progression from labor-intensive economy to one dominated by technologically sophisticated industries (banking, electricity generation, petroleum refining and computers)
1) 2) 3) 4)
Large population base Inexpensive labor Considerable natural resources Attractive to outside investors
Africa
1) Considerable natural resources 2) African nations remain very poor and undeveloped 3) International trade is not a major sources of income 4) Populace divided into 3,000 tribes that speak 1,000 languages and dialects 5) Major political instability 6) Poverty, starvation, illiteracy, corruption, overcrowding among many social problems negatively affecting economic sector