CONTENTS. Towards a New Europe 325 Contrasting Developments in the Americas 337 Asia's Economic Potential 349 Africa's Struggle for Reform 363

Transcription

1 CONTENTS PART ONE The Changing Nature of the Business Environment 1 Chapter 1 Introduction to the Business Environment 3 Appendix The Basic Economics of Markets 25 Chapter 2 The Globalization of Business 33 Chapter 3 The Regional Business Environment (Sub-National Regions) 59 Chapter 4 The National Business Environment 83 Chapter 5 The International Business Environment 113 PART TWO K.-y Dimensions of the Business Environment 145 Chanter G Business Models in Contrasting Cultures 147 Chapter ~ Business Ethics and Corporate Responsibility 179 Chapter o Internationalization of Business in a Changing Environment 205 Chapter 9 Markets, Competition, and Regulation 233 Chape to Technological Change 263 Chspr, < 11 International Risk 289 Chapter 12 Key Themes in the Business Environment: 315 Concluding Comments f PAPT IHRfct ' i C.'.i r t ri Context Towards a New Europe 325 Contrasting Developments in the Americas 337 Asia's Economic Potential 349 Africa's Struggle for Reform 363 Glossary 375 Index 387

2 ««Chapter 4 The National Business Environment 83 J\ Political and economic systems The national institutional environment Government policy priorities The national economy and macroeconomic policy Industrial structure and policy 99 Detailed Contents 4.6 Labour markets and labour market regulation Business, the national economic environment, and globalization Summary Chapter 5 The International Business Environment The international political context Nature and patterns of international business activity Regional integration Explanations of trade and investment Free trade and trade protection 'Fair trade'and'trade justice' Summary PART TWO Key Dimensions of the Business Environment 1*3 Chapter 6 Business Models in Contrasting Cultures!-*/ 6.1 The meaning and significance of culture Culture and institutions The essentials of culture Methods of cultural assessment Cultural controversies Alternative socio-economic models Implications for business in the global economy Summary 172 Chapter 7 Business Etnics and Corporate Responsible, 7.1 Ethics and business 180? "'' 7.2 Difficult issues in business ethics Concepts in business ethics Persona] ethics in business Corporate social responsibility Responsibility for the natural environment Business ethics, voluntarism, and the law Summary 198 Chapter 8 Internationalization of Business in a 205 Changing Environment 8.1 Motives for going international Multinational enterprises and the internationalization process 210

3 8.3 Assessing the international environment 212 «8.4 Modes of international entry 215 /%, Theories of internationalization Internationalization and the business environment Summary 226 truii)i-et ) 9.1 Markets in the global economy The role and operation of markets The analysis of competition Regulation and competition policy Summary 257 Detailed Contents 10.1 Perspectives on technological change Sources of technological change Technology and economic performance The knowledge economy Summary Global and country risk in an uncertain world Risk in the business environment The analysis of risk in the global environment Country risk analysis Managing risk in an uncertain world Summary Introduction Business in a global context Conceptual frameworks and ideas Changing dimensions of the business environment Emerging international scenarios The way forward Redrawing the map of Europe The European Union Transition in Russia and Eastern Europe The future of European capitalism European enigmas 333

4 J Chapter 14 Contrasting Developments in rne Anee;::: 1,37 #L 1 V 14.1 The US economy, the US dollar, and the world economy US hegemony in international affairs NAFTA and prospects for inter-american free trade Regional integration in South America, Central America, 341 and the Caribbean Detailed Contents 14.5 A new dawn for Latin America? 342 Chapter 15 Asia s Economic Potential Asia's political, economic, and cultural complexities The rise and fall of Japan? The Chinese phenomenon India's contrasting fortunes Regional integration in Asia and the Asia-Pacific Asian enigmas 357 Chapter 16 Africa s Struggle for Reform 16.1 The African enigma Africa's contrasting regions Regional integration in Africa Constraints on Africa's economic development An African renaissance? 371 Glossary 375 Index of Countries 387 General Index 388 3c3

5 I ICT Qp FFATURFS L U I %J 1 I t_#~% U! \ L J LIST OF TABLES 1.1 Illustrative factors used in a PESTLE analysis Top 10 countries in major international competitiveness rankings Top 10 motor manufacturers by sales revenue, UK regional disparities Regional unemployment and GDP per capita in the Slovak Republic Perceived barriers to entrepreneurship in Eastern Slovakia Main industrial sectors in selected OECD countries, The world's leading economies World merchandise exports by region and selected economy, Leading exporters and importers in world merchandise trade, Leading exporters and importers in commercial services, World exports of merchandise trade and commercial services, World FDI stock, Hofstede's dimensions of culture for selected countries Amable's five models of modern capitalism World internet usage. June The Chinese and US economies Growth rates of Asia's smaller 'tiger economies', LIST OF FIGURES 1.1 Key perspectives on the business environment The strategic planning process Real GDP % growth projections, Supply and demand graphs The changing world order: an emerging scenario The Meuse-Rhine Triangle: a cross-border polycentric region Illustrative expenditure on the 2012 Olympic Games EU cohesion policy, US real GDP growth rates, US government net lending or borrowing, The main political systems Trends and fluctuations in an economy The Phillips Curve The aggregate demand and supply model Stages of economic development 100

6 XVI 5.1 World production and merchandise exports, Levels of integration between countries The welfare loss from a tariff Hofstede's onion diagram The main socio-economic models in the global economy 166 List of Features 7.1 Direct and indirect stakeholders Graph illustrating a negative externality in a competitive market Factors affecting the decision to go international Typologies of multinational enterprise Vernon's product cycle and the marketing product life cycle Irregular price movements superimposed on the Bell Curve The neoclassical competition spectrum Welfare properties of perfect competition and monopoly A kinked demand curve The structure-conduct-performance paradigm The Chicago school, efficiency gains, and deadweight loss a Game theory pay-off matrix for two firms b The prisoner's dilemma GDP per capita, major regions and the world, AD a US employment level, b US unemployment rate, US productivity growth in the non-farm business sector, The J Curve 300 LIST OF OPENING SCENARIOS 1 The World Cup effect 4 2 Offshoring to India 34 3 Behind the scenes in China 60 4 The changing fortunes of the US economy 84 5 A Vietnamese renaissance? McDonald's in France Cadbury IKEA: The internationalization of a concept Open Skies across the Atlantic The high-definition DVD format war The international financial crisis, LIST OF PRACTICAL INSIGHTS 1.1 The EU services directive The impact of the international financial crisis Continuity and change in one of Europe's newest states 14

7 1.4 Microsoft and business environmental risk 1.5 International competitiveness rankings 1.6 Channel tunnel freight pricing 1.7 The world recession and the price of cars 1.8 Green tax or government revenue? 2.1 Technology and remote development 2.2 Dyson's move to Malaysia 2.3 US steel tariffs 2.4 De-industrialization 2.5 Changing views on free trade and protection 2.6 Conflicting views of the consumer 2.7 The deregulation of air transport 3.1 Coca-Cola 3.2 Nokia and Ericsson 3.3 Silicon Fen 3.4 Convergence between Europe's regions 3.5 Image or reality? 3.6 FDI in north-east England 4.1 The Scottish housing market 4.2 Measuring the size of the Russian economy 4.3 The national income multiplier 4.4 The return of Keynesian policy? 4.5 The role of interest rates 4.6 Industrial structure and the stage of economic development 4.7 The'VW Law' 4.8 The EU's temporary agency workers directive 5.1 The end of the 'iron curtain' 5.2 The G20 London summit 5.3 Changing patterns of trade 5.4 China's FDI 5.5 Tax havens 5.6 A trans-pacific free trade area 5.7 The enduring appeal of comparative advantage 5.8 EU quotas on Chinese textile imports 6.1 Cultural differences at a local level 6.2 The EU takeover directive 6.3 The role of religion in a secular state 6.4 A clash of world views 6.5 Risk-taking in Europe 6.6 Language and the development of trade links 6.7 Is Japan's corporate culture changing? 7.1 Enron 7.2 The Mexican 'swine flu' outbreak 7.3 The WTO and the compulsory licensing of drugs XVII List of Features

8 7.4 Sweat-shop labour XVllt 7-5 The wearing of a Sikh bangle 7.6 CSR reporting 7.7 The 'Skeptical Environmentalist' 7.8 'Food miles' 8.1 FDI in Brazil List of Features g 2 HSBC 8.3 Guanxi 8.4 Rolls Royce 8.5 UPS A tale of two Hoffmanns The Tees Valley process industries cluster World oil prices The Bologna process The need for state support Supermarket dominance in the UK Contestable markets in banking The prisoner's dilemma in trade policy The EU motor industry block exemption Electronic banking systems e-government GM crops The discovery of DNA The QWERTY keyboard When will China overtake the United States? A creative quarter for Middlesbrough? The misuse of probabilities when estimating risk Could 9/11 have been prevented? President Obama and US trade policy A brief profile of Mexico Should cities or regions compete? China's international competitiveness Developing alternative scenarios 308 LIST OF CASE STUDIES 1 Tesco's changing business environment 21 2 Globalization of the car industry 52 3 A regional perspective on Eastern Slovakia 78 4 Europe's'Celtic Tiger' The Doha development agenda The Renault-Nissan alliance a cultural enigma Corus and the Tata Group Wal-Mart's international expansion 227

9 9 Microsoft 10 The changing use of the internet 11 A country analysis of Botswana 12 Emerging scenario: Europe coming of age 13 Emerging scenario: Challenges to US dominance? 14 Emerging scenario: China's view of the world 15 Emerging scenario: China's 'scramble for Africa' XIX List of Features