Global Business

Yongsun Paik is Professor of International Business and Management, Director of the Center for International Business Education (CIBE), and the Center for Asian Business at Loyola Marymount University (LMU) in Los Angeles, CA, USA. Before joining LMU in 1991, he served as a country economist at the Export-Import Bank of Korea and a researcher at the Korea Ministry of Finance.Dong Chen is Professor of International Business and Strategic Management at Loyola Marymount University (LMU) in Los Angeles, CA, USA. He also serves as Chair of the Management Department and Research Director of the Center for International Business Education at LMU.William (Bill) Newburry is Professor, prior Department Chair, and the Ryder Eminent Scholar of Global Business at Florida International University (FIU) and an Academy of International Business (AIB) Fellow. Bill currently serves as Editor of AIB Insights and President of the Consortium for Undergraduate International Business Education (CUIBE).Dan Prud’homme is Assistant Professor at Florida International University (FIU)’s College of Business in Miami, FL, USA. Prior to joining academia, Dan worked for a decade in China, specializing in intellectual property and innovation management, nonmarket strategies, and international trade.

• Preface. ix PART I The Content of Global Business. 1 1 Globalization: Current Status and Future Prospects. 3 2 Trade: Rhetoric and Practice. 31 3 Foreign Direct Investment. 71 PART II The Context of Global Business. 109 4 Political and Legal Environment. 111 5 Economic and Technological Environment. 151 6 Social and Cultural Environment. 187 7 Sustainable Business Environment: Corporate Social Responsibility and Business Ethics. 221 8 Foreign Exchange Market and International Monetary System. 255 PART III Managing Global Business. 289 9 International Entry: Strategy and Decisions. 291 10 Managing People: Global Talent Management. 333 11 Managing Money: Finance, Accounting, and Taxation. 371 12 Managing Operations: R&D, Production, and Supply Chain. 411 13 Managing Customers: Marketing and Sales. 443 Index. 473

"With updated content and new case studies, this new edition of Paik, Chen, Newburry, and Prud’homme's book strengthens the bridge between theory and practice. The book will be invaluable to not only students but also practitioners eager to learn how to manage businesses in a global context."Professor Rosalie L. Tung, Beedie School of Business, Simon Fraser University, Canada“The second edition contains 13 chapters and about 40 short case illustrations, divided into three sections. Importantly, much of the content is either completely new or updated. Faculty members everywhere will welcome this fresh, additional textbook option.”Professor Paul W. Beamish, Ivey Business School, Western University, Canada“Paik, Chen, Newburry, and Prud'homme offer a useful and comprehensive account of the main drivers of global business and their implications for international business policy and practice. Their book provides a practical and relevant exploration of the most critical aspects of international business, presented in an easy-to-use and understandable fashion.”Professor Jonathan Doh, Villanova School of Business, Villanova University, USA