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FEATURES OF THE CANADIAN EDITION
- This first Canadian edition of International Business captures and explains Canada's business environment and compares it to several countries around the world. For example, in Chapter 2, Canadian culture is explained using Hofstede's cultural dimensions. In the same chapter, the subcultures section has a Canadian emphasis, and both the company profile and the international management case feature successful Canadian companies.
- The latest available data and reference sources are put forward in each chapter. For example, the section called 'Measuring Globalization' in Chapter 1 presents the latest Index of Globalization (2012) developed by the KOF institute. In Chapter 3, political risk levels are presented with an updated map. Chapter 5 gives an analysis of a new index called the UN World Risk Index, and the Big Mac Index and the Human Development Index provide the most recent data focusing on Canadian numbers in comparison to other countries.
- Chapter 4 (International Ethics) is entirely new. This chapter includes examples of ethical dilemmas that international managers may encounter. The chapter contains topics such as codes of ethics, corporate social responsibility, sustainability, fair trade, and the principles of responsible investment from the UN.
- The crucial role that emerging markets play in the global economy and international business is an ongoing focus in this edition. For example, the Culture Matters feature box in Chapter 5, titled “Foundations of Development,” discusses how ambition and fear in emerging markets has created $3000 autos, $300 computers, and $30 mobile phones that appeal to customers worldwide. Additionally, the chapter’s company profile features Datawind, a Canadian-owned technology company that developed the world's cheapest tablet for the Indian market.
- This edition keeps pace with current events and integrates them into chapter-opening company profiles, feature boxes, and end-of-chapter mini cases. For example, the company profile in Chapter 7 describes a new trend in foreign direct investment where companies in developed countries, such as Calgary-based Nexen Inc., are being acquired by foreign investors from developing countries.
- Key changes were made based on suggestions from instructors. For example, coverage of international finance (Chapter 9) has been streamlined, removing extended calculations using cross rates and coverage of discounts and premiums.
- Each part in the Canadian edition concludes with theTeaming Up project, a course-long, critical- and creative-thinking exercise for students to develop a market research analysis–from the Canadian perspective–for a product or service comparing two selected countries.
HALLMARK FEATURES OF INTERNATIONAL BUSINESS
Culture Early and Often
Culture is a fundamental element of all international business activity. This book’s presentation of culture sensitizes students to the lives of people in other nations. Culture appears early (Chapter 2) and is integrated throughout the text, using culture-rich chapter openers and lively examples of how culture affects international business. Covering culture in this way gets students interested in chapter material because it illustrates how concepts relate to the real world.
Accessible Material
A successful book for the first course in international business must be accessible to students. We describe conceptual material and specialized business activities in concrete, straightforward terms and illustrate them appropriately. For example, we introduce the concepts of absolute and comparative advantage in Chapter 6 by discussing whether Kevin O'Leary should install his own hot tub or let a professional installer perform the job. This approach—presenting complex material in an accessible manner—helps students to better master the material.
Integrative Approach
International business is not simply a collection of separate business functions and environmental forces. The model shown here (and detailed in Chapter 1) is a unique organizing framework that helps students to understand how the elements of international business are related. It depicts a dynamic, integrated system that weaves together national business environments, the international business environment, and international business management. It also shows that characteristics of globalization (new technologies and falling barriers to trade and investment) are causing greater competition.
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