Pages: 142

No chapter abstract available.

Pages: 35

This chapter examines the process of globalisation. After initially defining the form and nature of the process, the book moves on to critically examine the main drivers behind the process and acknowledges that globalisation is a trend that varies over time. As such, the chapter explores the emergence of deglobalisation where there is a reflection upon current trends, suggesting that there are evident turning points in the process. The chapter also explores the globalisation-business interface to fully understand why businesses benefit from globalisation and why their actions have been a major driver behind the process.

Pages: 25

This chapter explores the strategies deployed by companies as they seek to integrate themselves into the global marketplace. In so doing, the chapter initially explores the increased degree of globalisation of business models and how these set the context for corporate engagement with the global business environment. Thereafter, the chapter moves on to examine the different types of strategies being deployed within this marketplace. These reflect the logic of the integration-responsiveness framework and its legacy for the categorisation of international strategy. The chapter moves on to examine how businesses are adapting to their environment through the use of widely deployed frameworks such as the value chain and ‘Five Forces’.

Pages: 21

The state is at the cornerstone of international business. This chapter explores how states shape the competitive context for business by creating the conditions for business success within their territory as set within the context of international markets. To explore how states do this, this chapter adopts assorted frameworks, such as Porter's ‘Competitive Diamond’ which sets the conditions for success. These actions set the framework for the notion of state-based competitiveness, which runs through the core of the chapter. This analysis is all framed within the context that all states are deemed ‘competition states’ that is, these states are in competition with each other and adapt accordingly.

Pages: 23

One of the hallmarks of the current phase of globalisation is the increased level of constraints on firms to act totally independently of global economic, social, and political forces. As a result, many states realise that certain issues cannot be solved independently of other states. This chapter examines the emergence of various multilateral bodies and organisations that promote multilateral cooperation and seek to use these processes to foster systemic stability. Of special importance within this analysis is the WTO, which manages global trading relationships, but is currently undergoing a backlash from states that are pushing back against freer global markets.

Pages: 36

Regionalism has become an important trend within the global system. It is often deployed by smaller states as they seek to counteract the power of larger states within the global system. This chapter explores the trend towards regionalism across the global economy, looking at the trend on a region-by-region basis and noting that in many cases, the strategy is chosen in preference to the fuller global opening of national markets. The chapter examines the various forms of regional integration and also explores what the process means for the development of global businesses operating within and between these major global regions.

Pages: 76

No chapter abstract available.

Pages: 23

Developed economies have been at the forefront of the global economy. These are the states that have driven the trend towards globalisation. This chapter looks at how this pre-eminent position is being eroded by rising scepticism towards the globalisation process. The chapter explores the main political, economic, and social risks that are driving this increased degree of global scepticism.

Pages: 23

Emerging economies are a very diverse collection of states. For this reason, this chapter focuses on just India and China. In so doing, the chapter compares the divergent patterns of development between these two states over the past four decades. The chapter seeks to explore why China has ‘taken off’ in terms of economic growth and development while also exploring the circumstances that have led to India falling behind its emerging rival.

Pages: 28

This chapter explores the process of economic development and its importance to the global economy, notably with regard to facilitating proactive engagement by developing economies within the global system. To this end, the chapter explores the notion of economic development and looks at alternative theories that can explain the pattern and process of economic development. In doing so, the chapter also examines the major impediments to economic growth and development.

Pages: 100

No chapter abstract available.

Pages: 19

This chapter explores the systemic issues that firms will address when seeking to enter a new international marketplace. It will look at the main economic, political, social, and technological factors that will shape market attractiveness. Thereafter, the chapter moves on to explore the various strategies deployed by businesses as they seek to enter a market. This reflects a balance between risk and return and the amount of resources to be committed to a market to ensure success within it.

Pages: 26

Multinational enterprises (MNEs) are the major drivers behind the process of globalisation. How these firms organise themselves across space is a major theme in the evolution of the global system. This chapter explores the form and nature of the MNE, seeking to account for their emergence and growth. The chapter will look at competing theories (such as the eclectic paradigm and knowledge-based views) that seek to explain the emergence of MNEs. The chapter will also seek to assess the arguments for and against the extensive involvement of MNEs within the global system.

Pages: 28

One of the major changes within the domain of international business over the past few decades is how the process of internationalisation has become increasingly common among small businesses. The chapter explores the rise of small business internationalisation largely through the rise of the born global phenomenon. As part of this process, the chapter examines the process of internationalisation and also examines the major issues that are likely to impede the process of internationalization for this group of businesses.

Pages: 25

While globalisation was meant to be a process of cultural homogenisation within the global system, national cultures have in fact proved very resilient to this process. The chapter explores the role of culture within the global system. The chapter explores the divergences within national cultures and examines the major models that seek to categorise different types of national culture. The chapter discusses the complexity of such categorisations and their weaknesses and reflects upon the sustained salience of national cultural divergences.

Pages: 74

No chapter abstract available.

Pages: 22

There was a long-standing fear that globalisation would lead to an erosion of corporate standards, as globalisation opened up the opportunity for businesses to locate where the costs of production were lowest. However, there have been checks on corporate behaviour, and there is indeed an awareness that good corporate behaviour is good business. This chapter explores the rise in the salience of corporate social responsibility within the global system. It examines its form and motives and offers a critical treatment of this increasingly prominent form of global corporate behaviour.

Pages: 27

Building upon themes within the previous chapter, this section of the work explores the actions with regard to the labour market. Again, the logic is that global businesses seek to persistently lower labour costs through their progressive expansion in low-cost areas with lower protection of the labour force. This chapter explores this rather simplistic assumption and notes how businesses are looking to adopt various strategies to ensure that there is fair treatment of labour across the locations where they operate. This reflects that labour cannot be treated as a uniform asset but is actually very divergent across space in terms of its skills and capabilities.

Pages: 23

An extreme view of globalisation is that firms, as low-cost entities, would seek out those localities where environmental protections were lowest so as to minimise costs and increase profits. Again, this is a very simplistic view and is not reflective of how the greening of business can be seen as a source of competitive advantage. The chapter explores the arguments surrounding pollution havens and also explores Porter's hypothesis on the virtues of greening business. The chapter seeks to explore the complexities of such decisions and how firms are adapting to these pressures.

Pages: 108

No chapter abstract available.

Pages: 28

The international monetary system (IMS) has been a key source of instability within the global system, and the global financial crisis continues to have a legacy more than a decade after its onset. The chapter reflects on the nature of the IMS and the means and methods of governance of this system. The chapter reflects upon the global financial crisis and seeks to assess what its legacy can be, as well as any emergent issues within the global system that might threaten the future stability of the IMS.

Pages: 24

There is not a single global infrastructure system but rather a network of national infrastructure networks. Nonetheless, having a consistent and reliable physical infrastructure system is central to the operation of global systems and to ensuring global connectivity. These are needed for the mobility of tangibles and intangibles. The chapter explores the development of the ‘global’ infrastructure system and the main challenges involved in its development and operation. These challenges include its uneven development and the tendency amongst states to restrict consistency of operation across space.

Pages: 22

This chapter builds on themes that were initially explored in the previous chapter. In this case, the focus is on the increased importance of data as a resource to support the development and operation of global business. The chapter explores the rise in global data flows and highlights the importance of the physical systems underpinning this process. The chapter also examines the forces of fragmentation within the global information system and how this is altering the ability of information to act as a global resource for international business.

Pages: 23

This chapter explores the increased salience of natural resources within the global system. The analysis within the chapter is formed around the framework of the food-water-energy (FWE) nexus. The chapter explores, in turn, the respective elements of the FEW nexus, looking at the respective issues within each of them and how changes within them will impact business. There is a special focus within each section on notions of security within each of the respective domains and how the interrelationships between them are impacting commercial activity within the global system.

Pages: 9

This final chapter brings the themes within the previous chapter together to offer an integrative and coherent perspective on the evolution of international business. The chapter argues that the global financial crisis has left a long-lasting legacy on the global system, which has been driven by global scepticism about the perceived benefits of global markets.