International-Business.ppt

InternationalBusiness,Examinationpoints,Termstranslation10*2=20Judgeandcorrect8*3=24Paragraphstranslation2*6=12Multiplechoices6*2=12Essayquestions10+10+12=32,Internationalbusiness:consistsoftransactionsthataredevisedandcarriedoutacrossnationalborderstosatisfytheobjectivesofindividuals,andcompanies,andorganizations.国际商务包括一切为满足组织和个人需求而跨越国界进行的交易活动。Globalization:theprocessbywhichevents,activities,anddecisionsinonepartoftheworldhavesignificantconsequencesforcommunitiesindistantpartsoftheglobe.moderncauses:1)Transportationtechnology2)Globalmediasourcing3)Declineintradebarriers4)MultiNationalCorporations5)Communicationtechnology/Internet,DebateonGlobalization,Pros:promoteeconomicdevelopmentcreatejobs,increaseemploymentandincomedistributetechnologyandideaslowerpricesforgoodsandservicesimproveproductivityCons:widenthegapbetweentherichandthepoorenvironmentaldegradationcultureattackthreatofsovereignity,Terms,FDI:ForeignDirectInvestment外商直接投资GATT：GeneralAgreementonTariffsandTrade关贸总协定WTO:WorldTradeOrganization世界贸易组织IMF:InternationalMonetaryFund国际货币基金组织WB:WorldBank世界银行UN:UnitedNations联合国multinationalenterprises/corperations跨国公司marketsaturation市场饱和sourcingpolicy采购政策cooperativeagreement合作性协议globalorientation全球定位,Culture：anintegratedsystemoflearnedbehaviorpatternsthatarecharacteristicofthemembersofanygivensociety.Cultureisinherentlyconservative,resistingchange,andfosteringcontinuity.文化是由特定社会成员所独有的行为模式形成的综合体系。它在本质上是稳定的，排斥变革并具有连续性。Acculturation-adjustingandadaptingtoaspecificcultureotherthanonesown-isoneofthekeystosuccessininternationaloperations.文化适应-对自身进行调节以适应不同文化-是国际化经营取得成功的关键要素之一。,ElementsofCulture,language:verbalandnonverbal口头/非口头语言religion宗教valuesandattitude价值观和态度education教育mannersandcustoms风俗习惯,Languagecanbeseenasverballanguageandnonverballanguage,thatmeansMessagesareconveyedbythewordsused,byhowthewordsarespoken(eg.Toneofvoice).Andthroughnonverbalmeanssuchasgestures,bodyposition,andeyecontractverbalLanguagecapabilityservesthreedistinctrolesinbusinessenvironment:Languageisimportantininformationgatheringandevaluation.语言在信息的收集、评价方面具有重要作用Languageprovidesaccesstolocalsociety.语言提供了一个了解社会的入口Languagecapabilityisincreasinglyimportantincompanycommunications,whetherwithinthecorporatefamilyorwithchannelmembers.无论是在企业内部，还是与外部企业沟通方面，语言表达能力在公司交流方面作用都非常关键,TheculturaldiversityinnonverbalcommunicationcanbeshowninTimeZones,Space,MaterialWealth,Friends-makingWays,CommercialCustomsandalsointhewaypeoplegreeteachother.Religion:Christianity:CatholicismandProtestanitism-wealthIslam:anti-exploitationandagainstracialdiscriminationHindulism:familyandcastesystem等级制度Buddhism:spiritualdetachment,notmaterialcomfortConfucianism:loyaltyandfriendliness,Valuesaresharedbeliefsorgroupnormsthathavebeeninternalizedbyindividual.价值观是共同的信仰或指导人们行为的内在准则。Attitudesareevaluationsofalternativesbasedonthesevalues.态度是对建立在这些价值观基础上各种行为方式的评价。High-contextcultures:contextisatleastasimportantaswhatisactuallysaid.Thespeakerandthelistenerrelyonacommonunderstandingofthecontext.高背景文化：一个问题背景的重要性不亚于问题本身。对话双方的交流建立在对文化背景共同理解的基础上。Low-contextcultures:mostoftheinformationiscontainedexplicitlyinthewords.低背景文化：大多数信息通过明确语言加以描述。,Culturallifestylecanbeexplainedbyfourdimensions：Individualism个人主义倾向PowerDistance权力距离UncertaintyAvoidance不确定性回避Masculinity大男子主义倾向CulturalValuescanbeexplainedbythefollowing5dimensions：Universalismvsparticularism普通与特殊Neutralvsaffectiverelationships中立与表现Specificvsdiffuserelationships特定与分散Achievementvsascription成就与归属Locusofcontrol控制中心,MinimizingCulturalClash文化冲突,LearnOtherCulturesAvoidEthnocentrism民族优越感DontstricttoanyabsolutesBeopentoacceptCulturalShock文化冲击BePracticalandRealisticBeAdventurouswithPatienceculturalconvergence文化趋同culturalassimilator文化同化socialstratification社会阶层referencegroups参考团体self-referencecriterion自我参考准则,overviewofthetradetheory,TheTheoryofAbsoluteAdvantage绝对优势理论TheTheoryofComparativeAdvantage比较优势理论TheTheoryofFactorProportions要素禀赋理论ProductCycleTheory产品周期理论ImperfectMarketsandTradeTheory不完全竞争市场与贸易理论KrugmansEconomicsofScale克鲁格曼的规模经济论PortersNationalAdvantage波特的国家竞争力理论,Absoluteadvantage绝对优势,AbsoluteAdvantage:somecountriesowingtotheskillsoftheirworkersorthequalityoftheirnaturalresources,couldproducethesameproductsasotherswithfewerlaborhours.在某些国家，由于工人技能水平和自然资源质量的不同，是这个国家可以在更短的劳动时间内创造出同样数量的产品。AlthoughSmithsworkwasinstrumentalinthedevelopmentofeconomictheoriesabouttradeandproduction,itdidnotanswersomefundamentalquestionsabouttrade.Smithstradereliedonacountrypossessingabsoluteadvantageproduction,butdidntexplainwhatgaverisetotheproductionadvantages;斯密的理论建立在一个国家拥有生产的绝对优势上，但未解释是什么原因形成了这种生产优势secondifacountrydidntpossesabsoluteadvantageinanyproduct,couldittrade?若一国在任何一种产品生产中都不具有绝对优势，它是否还能进行贸易。,Comparativeadvantage比较优势,DavidRicardo,publishedOnthePrinciplesofPoliticalEconomyandTaxationin1819大卫李嘉图政治经济与税收原理ComparativeAdvantage:evenifacountrypossessedabsoluteadvantageintheproductionoftwoproducts,itstillmustberelativelymoreefficientthantheothercountryinonegoodsproductionthantheother.即使一国在两种产品上都具有绝对优势，但必然存在一种产品，它在这种产品的生产中的效率相对更高。,Concludingpointsaboutclassicaltradetheory,DivisionofLabor.AdamSmithsexplanationofhowindustrialsocietiescanincreaseoutputusingthesamelabor-hoursasinpreindustrialsocietyisfundamentaltoourthinkingeventoday.Smithextendedthisspecializationoftheeffortsofaworkertothespecializationofanation劳动力分工。亚当斯密使用前工业社会的劳动力小时数对工业社会增加产出的方式进行了解释，他的理论知道今天仍然是指导我们思考和分析问题的基本原则。他把工人的分工进一步扩展到了国家之间的分工。ComparativeAdvantage.DavidsextensionofSmithsworkexplainedforthefirsttimehowcountriesthatseeminglyhadnoobviousreasonfortradecouldindividuallyspecializeinproducingwhattheydidbestandtradeforproductstheydidnotproduce,比较优势。大卫李嘉图对斯密的理论又做了进一步扩展，第一次向人们揭示了一个没有任何明显贸易优势的国家，任然可以在他最擅长的产品方面进行专业化生产，并通过贸易获得这个国家不能生产的产品。GainsfromTrade.ThetheoryofCAarguedthatnationscouldimprovethewelfareoftheirpopulationsthroughinternationaltrade.Anationcouldactuallyachieveconsumptionlevelsbeyondwhatitcouldproducebyitself.贸易收益。比较优势理论指出，一个国家可以通过国际贸易改善这个国家居民的整体福利水平。国家完全可以在超越其自身生产能力的基础上进行消费。,FactorProportionsTradeTheory,Ifthereisnodifferenceintechnologyorproductivityoffactorsacrosscountries,whatthendeterminescomparativeadvantageinproductionandexport?Theansweristhefactorpricesdeterminecostdifferences.Andthesepricesaredeterminedbytheendowmentsoflaborandcapitalthecountrypossesses.Thetheoryassumethatlaborandcapitalareimmobile;factorscantmoveacrossborders.Thereforethecountriesendowmentdeterminestherelativecostsoflaborandcapitalcomparedwithothercountries.如果国家之间不存在技术和要素生产效率方面的差别，那么是哪些因素决定了生产和出口中存在的比较优势呢？答案是：要素的价格决定了成本差异。而这些要素的价格则决定于一个国家所拥有的劳动力和资本的禀赋特性。这个理论假设，劳动力和资本是不可流动的；要素无法进行跨国界的移动。因此，一个国家的要素禀赋决定了与其他国家之间在劳动力和资本方面的相对成本。,要素禀赋理论的假设,Thetheoryassumestwocountry,twoproducts,andtwofactorsofproduction.Notethatifbothcountrieswereproducingalloftheoutputtheycouldandtradingonlybetweenthemselves,bothcountrieswouldhavetohavebalancesintrade.只存在两个国家、两种产品和两种生产要素。如果这两个国家同时生产两种产品，并且在他们之间进行贸易，那么他们都必须保持贸易上的平衡。Themarketsfortheinputsandtheoutputsareperfectlycompetitive.Thefactorsofproduction,labor,andcapitalwereexchangedinmarketsthatpaidthemonlywhattheywereworth.Similarly,thetradeoftheoutputswascompetitivesothatonecountryhadnomarketpowerovertheother.生产资料市场和产品市场都是完全竞争的市场。生产要素-劳动力和资本，完全按照他们的价值进行等价交换。同样，产品的贸易完全通过竞争实现的，因此任何一个国家都没有市场力量控制另外一个国家。,Increasingproductionofaproductexperiencediminishingreturns.Thismeantthatasacountryincreasinglyspecializedintheproductionofoneofthetwooutputs,iteventuallywouldrequiremoreandmoreinputsperunitofoutput.Productionpossibilitiesfrontierswouldnolongerbestraightlinesbutconcave.随着产品产量的增加会出现收益递减现象。这意味着，由于一个国家某一种产品生产专业化程度的不断增加，随着产品生产量的上升，单位产品所消耗的生产资料越来越多。生产可能性曲线也不再是一条直线而变成一条曲线。Bothcountrieswereusingidenticaltechnologies.Eachproductwasproducedinthesamewayinbothcountries.两个国家都采用相同的技术。两个国家都以相同的方式生产同一种产品。,PPFissuesinstructionstonationalcentralbanksEUisnotanoptimalcurrencyareaInterestratesmaybetoohighindepressedregionsortoolowforeconomicallyboomingregionsMayneedtodealwiththisthroughfiscaltransfersfromprosperoustodepressedregionsEconomicissuesmaycomeagainstpoliticalones,OECD:OrganizationforEconomicCooperationandDevelopment联合国经合组织EU:EuropeanUnion欧盟NAFTA:NorthAmericaFreeTradeAgreement北美自由贸易协定ASEAN:AssociationofSoutheastAsianNations东南亚国家联盟APEC:AsiaPacificEconomicCooperation亚太经合组织,ForeignDirectInvestment对外直接投资,FDI:investmentmadebyaforeignindividualorcompanyinproductivecapacityofanothercountryforexample,thepurchaseorconstructionofafactory.Merger:Twoormorecompaniescombinedtoachievegreaterefficienciesofscaleandproductivity.Thisisaccomplishedthroughtheeliminationofduplicatedplant,equipment,andstaff,andthereallocationofcapitalassetstoincreasesalesandprofitsintheenlargedcompany.Acquisition:Theactofonecorporationacquiringacontrollinginterestinanothercorporation.Inanunfriendlytakeover,thebuyingcorporationmayofferincentivestostockholderssuchasofferingapricewellabovethecurrentmarketvalue.,Determinantsoflocationofproduction(FDI),Humancapital(+)Qualityofinfrastructure(+)Agglomerationeconomies(+)Taxes(-)Inputprices(-),positive78or83:smallfigureWhentrading“78to83”issufficientfor“$1.5678-$1.5683”“97to02”issufficientfor“$1.5097-$1.5102”,CrossRates交叉汇率,直接标价：交叉相除CHF/JPY=72.8880/73.3775间接标价：交叉相除EUR/GBP=0.6203/0.6214直接标价+间接标价：同边相乘GBP/CHF=2.3732/79,USD/JPY121.22/121.88USD/CHF1.6610/1.6631,EUR/USD0.9100/0.9110GBP/USD1.4660/1.4670,GBP/USD1.4288/98USD/CHF1/6610/31,TriangularArbitrage,$,CreditLyonnaisS(/$)=1.50,CreditAgricoleS(/)=85,BarclaysS(/$)=120,Supposeweobservethesebankspostingtheseexchangerates.,Firstcalculatetheimpliedcrossratestoseeifanarbitrageexists.,TriangularArbitrage,$,CreditLyonnaisS(/$)=1.50,CreditAgricoleS(/)=85,BarclaysS(/$)=120,TheimpliedS(/)crossrateisS(/)=80,CreditAgricolehaspostedaquoteofS(/)=85sothereisanarbitrageopportunity.,So,howcanwemakemoney?,TriangularArbitrage,$,CreditLyonnaisS(/$)=1.50,CreditAgricoleS(/)=85,BarclaysS(/$)=120,Aseasyas123:,1.Sellour$for,2.Sellourfor,3.Sellthosefor$.,TriangularArbitrage,Sell$100,000foratS(/$)=1.50receive150,000,Sellour150,000foratS(/)=85receive12,750,000,Sell12,750,000for$atS(/$)=120,receive$106,250,profitperroundtrip=$106,250-$100,000=$6,250,LongandShortForwardPositions,Ifyouhaveagreedtosellanything(spotorforward),youare“short”.（空头，看跌）Ifyouhaveagreedtobuyanything(forwardorspot),youare“long”.（多头，看涨）Ifyouhaveagreedtosellforexforward,youareshort.Ifyouhaveagreedtobuyforexforward,youarelong.Ifyouhaveagreedtosellanythingafter1yearatthepriceofP1,whatconditionwillmakeyoumakemoney?,FourPsofMarketingPROMOTION,DualConcentration:smallfirmsorfirmsthatmarketspecializedproductstoclearlydefinablemarkets.双重集中化：小企业或向明确定义的市场销售特殊产品的企业DualDiversification:consumer-orientedcompanies双重多样化：以消费者为中心的大企业Marketconcentration/segmentdiversification:alimitednumberofmarketsbutforwidecoveragewithinthem,puttingemphasisoncompanyacceptance.市场集中/细分市场多样化：选择有限数量的市场、大面积的覆盖，将重点放在企业被认可上。Marketdiversification/segmentconcentration:theidentificationofasegment,possiblyworldwide,towhichthecompanycanmarketwithoutmajorchangesinitsmarketingmix市场多样化/细分市场集中：可能在全球范围内对市场细分的辨认，企业基本不改变营销策略地进行销售,FourPsofMarketingPLACE,3choicestoaccessinternationalmarketMakenospecialprovisionsfortheinternationalmarketplacebut,ratheridentifypotentialtargetmarketsandthenchooseproductsthatcaneasilybemarketedwithlittleornomodification.不向国际市场提供特殊产品，但须识别潜在目标市场，然后选择很少或不做调整就容易地销售出去的产品Adapttolocalconditionsineachandeverytargetmarket.在每一个目标市场都使产品适应当地条件Incorporatedifferencesintoaregionalorglobalstrategythatwillallowforlocaldifferencesinimplementation将差异合并到区域或全球战略中实施，允许地方差异作为补充,FactorsAffectingAdaptation,themarket(s)targeted目标市场theproductanditscharacteristics产品及其特征companycharacteristics,includingfactorssuchasresourcesandpolicy企业特点，包括资源、政策Governmentregulationhowtodeveloptangibleandintangibleproductfeaturesthatmeetcustomerneedsindiversemarketsandhowwelltheyaredifferentiatedfromthoseofthecompetition.designtechnologyusefulness:snowplowsconveniencevaluequalitypackaging:languagerequirementFinland(FinnishandSwedish),FourPsofMarketingPrice,Pricing:howtopricetheproducts;howtodeveloppricingpoliciesthatbringinrevenuesandstrategicallyshapethefirmscompetitiveenvironment.Astandardprice,dualpricing,market-differentiatedpricingPricingstrategiescanbecostbased(lookinside)marketbased(lookoutside)Costbasedpricing-pricesmustcovervariableproductioncosts;fixedcosts;marketinganddistributioncosts;administrativecosts;profitobjectivesMarketbasedpricing-pricesmustadapttowhatcustomerswillpay(consistentwithourimageinthemarket)competitorsprices;regulatoryconstraints,Skimmingpricing撇脂定价法,Chargingahighpriceinitiallyandreducingthepriceovertime.Commonlyusedwhenintroducingnewcustomersarewillingtotraveltolocation.Whenwedecidetouseselectivedistribution,itmeansthattherearefewerlocationswherethecustomercanbuyourproduct.Wearenoteverywhere.Wetakethisapproachwhenthecosttostockourproductisveryhigh.Forexampleforhomecomputers,youmightsellthrougharetailoutlet.Theinventorycostisveryhighforthatretailersoyoudontwanttolicenseseveralretailoutletsinasmallmarkettosellyourproduct.Theirinventorycostissohighandifyoucreateallkindsofcompetitionforthemthenyouareweakeningtheirposition.Anotherconsiderationiswhe