Sunhan Essay

20824 Words Apr 25th, 2013 84 Pages
Seventh

Edition

INTERNATIONALEDITION

INTERNATIONAL MANAGEMENT
MANAGINGACROSSBORDERS AND CULTURES
TEXTANDCASES

Helen Deresky
Professor Emerita, State University of New York-Plattsburgh

Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo

PART OUTLINE

Chapter 1

Assessing the Environment—Political, Economic, Legal, Technological
Chapter 2

Managing Interdependence: Social Responsibility and Ethics

Assessing the Environment
Political, Economic, Legal, Technological

Outline
Opening Profile: Economic Crisis Spreads Through Financial
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4. To develop an appreciation for the ways in which political, economic, legal and technological factors and changes impact the opportunities that companies face. 5. To discuss the complexities of the international manager's job.
14

Chapter 1 • Assessing the Environment

15

Opening Profile: Economic Crisis Spreads Through Financial Globalization
A perilous global crisis of confidence has revealed both the scale and the limitations of globalimtion.1 The 2009 World Economic Forum in Davos, Switzerland, announced its theme—"Shaping the Post-Crisis World." What crisis? What caused the crisis? Some of the developments as they occurred are discussed below, and the effects will no doubt be continuing as you read this book. Discuss updates in your class and how the effects are impacting international business. In September 2008, fears of a global recession fed a stock market panic as worries about toxic assets (highly leveraged securities mainly linked to risky mortgages taken out in the United States) spread from the financial sector to the credit markets and then to the broader economy.2 The American export—the subprime mortgage mess—caused the global economy to hit the brakes. The problem is that Finance has become one of the most international of industries, with banks from around the world doing business across numerous countries. However, regulation of that industry is still only national or local. Because fear

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