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Contents
Preface xix
Part 1 Global Business Environment 2

Chapter 1 Globalization 2
Apple’s Global iMpact 3
Key Players in International Business 5
Multinational Corporations 5
Entrepreneurs and Small Businesses 5
What Is Globalization? 6
Globalization of Markets 7
Globalization of Production 8
■ Global Sustainability: Three Markets, Three Strategies 9
Forces Driving Globalization 10
Falling Barriers to Trade and Investment 10
Technological Innovation 14
Measuring Globalization 15
Debate Over Jobs and Wages 16
Against Globalization 16
For Globalization 17
Summary of the Jobs and Wages Debate 18
Debate Over Income Inequality 18
Inequality within Nations 18
Inequality between Nations 19
Global Inequality 20
Debate Over Culture, Sovereignty, and the Environment 21
Globalization and Culture 21
Globalization and National Sovereignty 21
■ Culture Matters: The Culture Debate 21
■ Manager’s Briefcase: The Keys to Global Success 22
Globalization and the Environment 23
The Global Business Environment 23
The Road Ahead for International Business 25
■ Bottom Line For Business 26
Chapter Summary 26 • Key Terms 28 • Talk About It 1 28 • Talk
About It 2 28 • Ethical Challenge 28 • Teaming Up 28 • Market
Entry Strategy Project 29
■ racticing International Management Case: MTV Goes Global
P
with a Local Beat 30
Appendix World Atlas 31
vii
viii Contents
Part 2 National Business Environments 40

Chapter 2 Cross-Cultural Business 40
Hold the Pork, Please! 41
What Is Culture? 42
National Culture 42
Subcultures 43
Physical Environment 43
Need for Cultural Knowledge 44
■ Culture Matters: Creating a Global Mindset 44
Values and Behavior 45
Values 46
Attitudes 46
Aesthetics 46
Appropriate Behavior 47
■ Manager’s Briefcase: A Globetrotter’s Guide to Meetings 48
Social Structure and Education 48
Social Group Associations 48
Social Status 49
Social Mobility 49
Education 50
Religion 51
Christianity 51
Islam 54
Hinduism 54
Buddhism 55
Confucianism 56
Judaism 56
Shinto 56
Personal Communication 57
Spoken and Written Language 57
■ Global Sustainability: Speaking in Fewer Tongues 57
Body Language 59
Culture in the Global Workplace 60
Perception of Time 60
View of Work 60
Material Culture 61
Cultural Change 62
Studying Culture In The Workplace 63
■ Bottom Line for Business 67
■ racticing International Management Case: A Tale of Two
P
Cultures 71
Chapter 3 Political Economy and Ethics 72

PepsiCo’s Global Challenge 73
Political Systems 75
Totalitarianism 75
■ Global Sustainability: From Civil War to Civil Society 77
Democracy 77
■ Manager’s Briefcase: Your Global Security Checklist 79
ix
Contents
Economic Systems 80
Centrally Planned Economy 80
Mixed Economy 81
Market Economy 83
Legal Systems 85
■ Culture Matters: Playing by the Rules 85
Common Law 88
Civil Law 88
Theocratic Law 89
Global Legal Issues 89
Intellectual Property 89
Product Safety and Liability 91
Taxation 91
Antitrust Regulations 92
Ethics and Social Responsibility 93
Philosophies of Ethics and Social Responsibility 93
Bribery and Corruption 94
Labor Conditions and Human Rights 94
Fair Trade Practices 95
Environment 95
■ racticing International Management Case: Pirates of
P
Globalization 103
Chapter 4 Economic Development of Nations 104

India’s Tech King 105
Economic Development 106
Classifying Countries 106
National Production 107
Purchasing Power Parity 110
Human Development 111
Economic Transition 112
Managerial Expertise 112
Shortage of Capital 112
Cultural Differences 113
Sustainability 113
Political Risk 113
■ Global Sustainability: Public Health Goes Global 114
Conflict and Violence 114
Terrorism and Kidnapping 115
Property Seizure 115
Policy Changes 118
Local Content Requirements 119
Managing Political Risk 119
Adaptation 119
Information Gathering 120
Political Influence 120
International Relations 121
The United Nations 121
x Contents
Emerging Markets and Economic Transition 122

China’s Profile 122
Chinese Patience and Guanxi 123
China’s Challenges 123
■ Culture Matters: Guidelines for Good Guanxi 124
Russia’s Profile 125
■ Manager’s Briefcase: Russian Rules of the Game 125
Russia’s Challenges 126
■ racticing International Management Case: Cuba Comes
P
Off Its Sugar High 131
Part 3 International Trade and Investment 132

Chapter 5 International Trade Theory 132
From Bentonville to Beijing 133
Benefits, Volume, and Patterns of International Trade 134
Benefits of International Trade 134
Volume of International Trade 134
International Trade Patterns 135
Trade Interdependence 138
■ Culture Matters: Business Culture in the Pacific Rim 138
Mercantilism 139
How Mercantilism Worked 140
Flaws of Mercantilism 140
Theories of Absolute and Comparative Advantage 141
Absolute Advantage 141
Comparative Advantage 143
Factor Proportions Theory 145
Labor Versus Land and Capital Equipment 146
Evidence on Factor Proportions Theory: The Leontief Paradox 146
International Product Life Cycle 146
Stages of the Product Life Cycle 146
Limitations of the Theory 147
■ Manager’s Briefcase: Five Fulfillment Mistakes 148
New Trade Theory 148
First-Mover Advantage 149
National Competitive Advantage 149
Factor Conditions 149
■ Global Sustainability: Foundations of Development 150
Demand Conditions 150
Related and Supporting Industries 150
Firm Strategy, Structure, and Rivalry 151
Government and Chance 151
■ Bottom Line For Business 151
■ racticing International Management Case: First in Asia
P
and the World 155
xi
Contents
Chapter 6 Political Economy of Trade 156

Lord of the Movies 157
Why Do Governments Intervene in Trade? 158
Political Motives 158
■ Global Sustainability: Managing Security in the Age of Globalization 159
Economic Motives 160
Cultural Motives 161
■ Culture Matters: Myths of Small Business Exporting 162
Instruments of Trade Promotion 163
Subsidies 163
Export Financing 163
Foreign Trade Zones 164
■ Manager’s Briefcase: Experts in Export Financing 164
Special Government Agencies 165
Instruments of Trade Restriction 165
Tariffs 165
Quotas 166
Embargoes 168
Local Content Requirements 168
Administrative Delays 169
Currency Controls 169
Global Trading System 169
General Agreement on Tariffs and Trade (GATT) 170
World Trade Organization (WTO) 171
■ racticing International Management Case: Down with
P
Dumping 177
Chapter 7 Foreign Direct Investment 178

Das Auto 179
Pattern of Foreign Direct Investment 180
Ups and Downs of FDI 180
■ Culture Matters: The Cowboy of Manchuria 182
Worldwide Flows of FDI 182
Theories of Foreign Direct Investment 183
International Product Life Cycle 183
Market Imperfections (Internalization) 183
Eclectic Theory 184
Market Power 184
Management Issues and Foreign Direct Investment 185
Control 185
Purchase-or-Build Decision 185
■ Manager’s Briefcase: Surprises of Investing Abroad 186
Production Costs 186
Customer Knowledge 187
■ Global Sustainability: Greening the Supply Chain 188
Following Clients 188
Following Rivals 188
Why Governments Intervene in FDI 189
Balance of Payments 189
xii Contents
Reasons for Intervention by the Host Country 190

Reasons for Intervention by the Home Country 191
Government Policy Instruments and FDI 192
Host Countries: Promotion 193
Host Countries: Restriction 193
Home Countries: Promotion 194
Home Countries: Restriction 194
■ Practicing International Management Case: World Class
in the Deep South 199
Chapter 8 Regional Economic Integration 200

Nestlé’s Global Recipe 201
Levels of Integration and the Debate 202
Free Trade Area 202
Customs Union 203
Common Market 203
Economic Union 203
Political Union 203
The Case for Regional Integration 203
The Case Against Regional Integration 205
Integration in Europe 206
European Union 207
■ Culture Matters: Czech List 212
European Free Trade Association (EFTA) 214
Integration in the Americas 214
North American Free Trade Agreement (NAFTA) 214
Central American Free Trade Agreement (CAFTA-DR) 216
Andean Community (CAN) 216
Southern Common Market (MERCOSUR) 217
Central America and the Caribbean 217
Free Trade Area of the Americas (FTAA) 218
Integration in Asia and Elsewhere 218
Association of Southeast Asian Nations (ASEAN) 218
Asia Pacific Economic Cooperation (APEC) 218
■ Manager’s Briefcase: The Ins and Outs of ASEAN 219
Closer Economic Relations (CER) Agreement 219
Gulf Cooperation Council (GCC) 219
Economic Community of West African States (ECOWAS) 220
African Union (AU) 220
Chapter Summary 221 • Key Terms 222 • Talk About It 1 222 •
Talk About It 2 223 • Ethical Challenge 223 • Teaming
Up 223 • Market Entry Strategy Project 223
■ racticing International Management Case: Global Trade Deficit
P
in Food Safety 225
xiii
Contents
Part 4 The International Financial System 226

Chapter 9 International Financial Markets 226
Wii Is the Champion 227
Importance of the International Capital Market 228
Purposes of National Capital Markets 229
Purposes of the International Capital Market 229
■ Global Sustainability: Big Results from Microfinance 230
Forces Expanding the International Capital Market 230
World Financial Centers 231
International Capital Market Components 232
International Bond Market 232
International Equity Market 233
Eurocurrency Market 233
The Foreign Exchange Market 234
Functions of the Foreign Exchange Market 234
Currency Quotes and Rates 236
Quoting Currencies 236
Spot Rates 239
Forward Rates 239
Swaps, Options, and Futures 240
Market Instruments and Institutions 240
Trading Centers 241
Important Currencies 241
Interbank Market 242
Securities Exchanges 242
Over-The-Counter Market 242
■ Manager’s Briefcase: Managing Foreign Exchange 243
Currency Restriction 243
Instruments for Restricting Currencies 244
■ racticing International Management Case: Should We Cry
P
for Argentina? 248
Appendix Calculating Percent Change in Exchange Rates 249
Chapter 10 International Monetary System 250

Euro Rollercoaster 251
Importance of Exchange Rates 252
Desire for Predictability and Stability 253
Efficient versus Inefficient Market View 253
Forecasting Techniques 254
Difficulties of Forecasting 254
■ Culture Matters: The Long Arm of the Law 255
What Factors Determine Exchange Rates? 255
Law of One Price 255
Purchasing Power Parity 256
xiv Contents
Fixed Exchange Rate Systems 260

The Gold Standard 260
Bretton Woods Agreement 262
System of Floating Exchange Rates 264
Today’s Exchange-Rate Arrangements 264
European Monetary System 265
■ Manager’s Briefcase: Adjusting to Currency Swings 265
Recent Financial Crises 266
Future of the International Monetary System 269
■ racticing International Management Case: Banking on
P
Forgiveness 273
Part 5 International Business Management 274

Chapter 11 International Strategy and Organization 274
Flying High with Low Fares 275
Company Analysis 276
Company Mission and Goals 276
Core Competency and Value-Creation 277
■ Manager’s Briefcase: Ask Questions before Going Global 279
Strategy Formulation 280
Two International Strategies 280
Corporate-Level Strategies 281
Business-Level Strategies 282
Department-Level Strategies 284
Issues of Organizational Structure 285
Centralization versus Decentralization 285
Coordination and Flexibility 286
Types Of Organizational Structure 287
International Division Structure 287
International Area Structure 288
Global Product Structure 289
Global Matrix Structure 289
Work Teams 290
A Final Word 291
About It 2 293 • Ethical Challenge 293 • Teaming Up 294
■ racticing International Management Case: IKEA’s Global
P
Strategy 295
Chapter 12 Analyzing International Opportunities 296

Starbucks Causes Global Jitters 297
Basic Appeal and National Factors 298
Step 1: Identify Basic Appeal 298
Step 2: Assess the National Business Environment 300
■ Manager’s Briefcase: Conducting Global e-Business 304
Measure and Select the Market or Site 304
Step 3: Measure Market or Site Potential 304
Step 4: Select the Market or Site 307
xv
Contents
Secondary Market Research 310

International Organizations 310
Government Agencies 310
Industry and Trade Associations 312
Service Organizations 312
Internet 312
Problems with Secondary Research 313
Primary Market Research 314
Trade Shows and Trade Missions 314
Interviews and Focus Groups 314
■ Culture Matters: Is the World Your Oyster? 315
Surveys 315
Environmental Scanning 316
Problems with Primary Research 316
A Final Word 316
■ racticing International Management Case: Vietnam’s Emerging
P
Market Potential 319
Chapter 13 Selecting and Managing Entry Modes 320

License to Thrill 321
Exporting, Importing, and Countertrade 322
Why Companies Export 322
Developing an Export Strategy: A Four-Step Model 323
Degree of Export Involvement 324
Avoiding Export and Import Blunders 325
Countertrade 326
Export/Import Financing 327
Advance Payment 327
Documentary Collection 328
Letter of Credit 329
Open Account 330
■ Manager’s Briefcase: Collecting International Debts 330
Contractual Entry Modes 331
Licensing 331
Franchising 332
Management Contracts 334
Turnkey Projects 334
Investment Entry Modes 336
Wholly Owned Subsidiaries 336
Joint Ventures 336
Strategic Alliances 338
Strategic Factors in Selecting an Entry Mode 339
Selecting Partners for Cooperation 339
Cultural Environment 340
■ Culture Matters: Negotiating Market Entry 340
Political and Legal Environments 341
Market Size 341
Production and Shipping Costs 341
International Experience 341
A Final Word 342
xvi Contents
■ racticing International Management Case: Telecom Ventures
P
Unite the World 345
Chapter 14 Developing and Marketing Products 346

Wings for Life 347
Developing Product Strategies 348
Laws and Regulations 348
Cultural Differences 349
Brand and Product Names 349
National Image 350
Counterfeit Goods and Black Markets 351
Shortened Product Life Cycles 351
Creating Promotional Strategies 352
Push and Pull Strategies 352
■ Manager’s Briefcase: Managing an International Sales Force 353
International Advertising 353
Blending Product and Promotional Strategies 355
■ Culture Matters: Localizing Websites 357
Designing Distribution Strategies 358
Designing Distribution Channels 358
Influence of Product Characteristics 359
Special Distribution Problems 359
Developing Pricing Strategies 360
Worldwide Pricing 360
Dual Pricing 361
Factors That Affect Pricing Decisions 361
A Final Word 362
■ racticing International Management Case: Psychology of Global
P
Marketing 365
Chapter 15 Managing International Operations 366

Toyota Races Ahead 367
Production Strategy 368
Capacity Planning 368
Facilities Location Planning 368
Process Planning 370
Facilities Layout Planning 371
Acquiring Physical Resources 371
Make-or-Buy Decision 371
Raw Materials 374
Fixed Assets 374
Key Production Concerns 375
Quality Improvement Efforts 375
■ Manager’s Briefcase: World-Class Standards 376
Shipping and Inventory Costs 376
Reinvestment versus Divestment 377
Financing Business Operations 377
Borrowing 378
Issuing Equity 378
xvii
Contents
■ Culture Matters: Financing Business from Abroad 380

Internal Funding 380
Capital Structure 381
A Final Word 382
■ racticing International Management Case: Toyota’s Strategy for
P
Production Efficiency 385
Chapter 16 Hiring and Managing Employees 386

Leaping Cultures 387
International Staffing Policies 388
Ethnocentric Staffing 388
Polycentric Staffing 390
Geocentric Staffing 390
Recruiting and Selecting Human Resources 391
Human Resource Planning 391
■ Manager’s Briefcase: Growing Global 391
Recruiting Human Resources 392
Selecting Human Resources 392
Culture Shock 393
Reverse Culture Shock 393
■ Culture Matters: A Shocking Ordeal 394
Training and Development 394
Methods of Cultural Training 395
Compiling a Cultural Profile 396
Nonmanagerial Worker Training 397
Employee Compensation 397
Managerial Employees 397
Nonmanagerial Workers 398
Labor–Management Relations 399
Importance of Labor Unions 399
A Final Word 400
■ racticing International Management Case: Expatriation or
P
Discrimination? 403
Endnotes 404
Glossary 409
Name/Company Index 417
Subject Index 420
Dear Friends and Colleagues,
As we roll out the new edition of International Business: The Challenges of Globalization,
we thank each of you who provided suggestions to enrich this textbook. This edition
reflects the advice and wisdom of many dedicated reviewers and instructors. Together,
we have created the most readable, concise, and innovative international business book
available today.
As teachers, we know how important it is to select the right book for your course.
Instructors say that this book’s clear and lively writing style helps students learn international
business. This book’s streamlined and clutter-free design is a competitive advantage that will
never be sacrificed.
This book’s cutting-edge technology package also helps students to better understand
international business. MyManagementLab is an innovative set of course-management
tools for delivering all or part of your course online, which makes it easy to add meaningful
assessment to your course. Whether you’re interested in testing your students on simple
recall of concepts and theories or you’d like to gauge how well they can apply their new
knowledge to real-world scenarios, MyManagementLab offers a variety of activities that
are applied and personalized with immediate feedback. You and your students will find these
and other components of this book’s learning system fun and easy to use.
We owe the success of this book to our colleagues and our students who keep us
focused on their changing educational needs. In this time of rapid global change, we must
continue to instill in our students a passion for international business and to equip them with
the skills and knowledge they need to compete. Please accept our heartfelt thanks and know
that your input is reflected in everything we write.
John J. Wild
Kenneth L. Wild
xviii
Preface
Welcome to the eighth edition of International Business: The Challenges of Globalization. As in

previous editions, this book resulted from extensive market surveys, chapter reviews, and corre-
spondence with scores of instructors and students. We are delighted that an overwhelming num-
ber of instructors and students agree with our fresh approach to international business. The re-
ception of this textbook in the United States and across the world has exceeded all expectations.
This book presents international business in a comprehensive yet concise framework. Real-
world examples and engaging features bring the concepts of international business to life and
make international business accessible for all students. A main goal in this edition is to deliver
the most readable, current, and concise international business textbook available. And this
book’s paperback format ensures that its price matches a student’s budget.
This book is our means of traveling on an exciting tour through the study of international
business. It motivates the reader by making international business challenging yet fun. It also
embraces the central role of people and their cultures in international business. Each chapter is
infused with real-world discussion, while underlying theory appears in the background where
it belongs. Terminology is used consistently, and theories are explained in direct and concise
terms. This book’s visual style is innovative yet subtle and uses photos, illustrations, and fea-
tures sparingly. The result is an easy-to-read and clutter-free design.
What’s New in This Edition

• Chapter 1 has been reorganized for a better flow of topics
• We added a new section in Chapter 2 titled Culture in the Global Workplace
• Chapter 2 covers the sixth and latest Hofstede dimension
• Chapters 3 and 4 have been blended and redesigned into a political economy framework
• Coverage of regional integration in chapter 8 is now presented as a debate
• MyManagementLab is now more integrated throughout the text
MyManagementLab™ Suggested Activities

We are excited that Pearson’s MyManagement Lab has been fully integrated into the text.
These new features are outlined below. The online assessment activities enable you to quiz your
students before they come to class so that you have more time in class to focus on areas that
students find most challenging.
Watch It
Recommends a video clip that can be assigned to students for outside classroom viewing or that
can be watched in the classroom. The video corresponds to the chapter material and is accompa-
nied by multiple choice questions that reinforce student comprehension.
Try It
Recommends a mini simulation that can be assigned to students as an outside classroom activ-
ity or that can be done in the classroom. As the students watch the simulation they will be asked
to make choices based on the scenario presented. At the end of the simulation the student will
receive immediate feedback based on the answers they gave. These simulations reinforce the
chapters’ concepts and the students’ comprehension of those concepts.
Talk About It
These are discussion-based questions that can be assigned as an activity in the classroom.
xix
xx Preface
Assisted-Graded Writing Questions

These are short essay questions that students can complete as an assignment and submit to you
for grading.
Chapter by Chapter Changes

• Coverage of globalization and the global business environment in Chapter 1 has been re-
organized for a better flow of topics. Some material has been compressed and other topics
rearranged within the chapter. Chapter 1 also demonstrates the new design for the learning
objectives, whereby each objective directly aligns with each major section in the chapter
and with the chapter summary.
• The role of culture in business in Chapter 2 has been improved to aid student comprehen-
sion. The chapter contains a new section titled “Culture in the Global Workplace,” which
covers how people in different cultures view time, work, cultural change, and material cul-
ture. We listened to your feedback and replaced the complex Hofstede figures with a table
of country scores for each Hofstede dimension. We also now include coverage of the sixth
and latest Hofstede dimension—indulgence versus restraint.
• The most significant change in topical coverage is a reworking of the previous Chapters 3
and 4. Chapter 3 now covers political, legal, and economic systems as integrated systems
of political economy by absorbing the topic of economic systems from Chapter 4. These
changes reflect instructor preference for a more applied approach to teaching the material
as an integrated system. Accordingly, Chapter 4 now covers the economic development of
nations more directly than in previous editions and includes relevant topics that were previ-
ously in Chapter 3, including political risk and international relations.
• Coverage of regional economic integration in Chapter 8 has been streamlined in
places and coverage of the trading bloc known as ALADI has been removed. Instead
of presenting the pros and cons of regional integration as benefits and drawbacks, the
material is now presented as a debate over the effects of regional integration. This
change reflects instructor and student requests for a more dynamic presentation of this
material.
• This edition of International Business is also more interactive than any previous edition. If
assigned by the instructor, students are invited to go to the MyManagementLab Website at
relevant places throughout each chapter to complete multiple-choice exercises, to watch a
video and answer questions, or to perform a simulation exercise.
• All chapters contain the latest available data and reference sources as of the date of
printing. For example, Table 5.1 in Chapter 5 presents the latest ranking of the world’s top
merchandise and service exporters, and Table 5.2 provides updated figures on the amount
of trade that flows between different world regions.
• This edition keeps pace with current events around the world. Wherever possible, we in-
tegrate recent events into chapter-opening company profiles, tables and figures, feature
boxes, in-text examples, and end-of-chapter mini cases.
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.
Highly Readable
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 5 by discussing whether a highly paid CEO should install her
Preface xxi
own hot tub or let a professional installer perform

Globalization
the job. This approach—presenting complex ma- (ch. 1)
terial in an accessible manner—helps students to

better master the material. International
International International
Uniquely Integrative Monetary System
(ch. 10)
Trade Theory
(ch. 5)
National
International business is not simply a collection
of separate business functions and environmental Cross-Cultural
Business
forces. The model shown here (and detailed in Firm (ch. 2)
Chapter 1) is a unique organizing framework that Hiring and

Managing
International
Strategy and
helps students to understand how the elements of in- Employees
(ch. 16)
Organization
(ch. 11)
ternational business are related. It depicts a dynamic, Economic
International Development Managing Analyzing Political
Economy
integrated system that weaves together national Financial
Markets
of Nations
(ch. 4)
International
Operations
International
Opportunities of Trade
(ch. 6)
business environments, the international business en- (ch. 9) (ch. 15) (ch. 12)
Selecting
vironment, and international business management. Developing and
and Marketing Managing
It also shows that characteristics of globalization Products
(ch. 14)
Entry Modes
Falling (ch. 13) Technological
(new technologies and falling barriers to trade and Trade/FDI Political Innovation
Barriers
investment) are causing greater competition. Economy and
Ethics
(ch. 3)
Interactive Approach Regional

Economic
Foreign Direct
Investment
This book’s cutting-edge technology package Integration
(ch. 8)
(ch. 7)
helps students to better understand international

business. MyManagementLab is an innovative set
Increasing
of course-management tools for delivering course Competition
material online and makes it easy to add meaning-

ful assessment to the course. Whether interested
in testing students on simple recall of concepts and theories or gauging how well students can
apply their newly minted knowledge to real-world scenarios, MyManagementLab offers a va-
riety of activities that are applied, personalized, and offer immediate feedback. Instructors and
students say that the MyManagementLab learning system is fun and easy to use and far superior
to anything available from any competitor.
Innovative Pedagogy
This book’s pedagogy stands apart from the competition:
• Chapter-opening company profiles are brief, easy-to-read introductions to each chapter’s
content filtered through the lens of a real-world example. Instructors say these profiles
of high-interest firms motivate students to turn the page and get reading the chapters.
Companies profiled are on the leading edge of their industries and are inherently inter-
esting to students, including Apple, PepsiCo, Infosys, Nintendo, Ryanair, Marvel, and
Red Bull.
• Global Sustainability boxes present special topics related to economic, social, and
environmental sustainability. Today, CHAPTER1 • GlobAlizATion 9
businesses know that flourishing mar-

Global Sustainability Three Markets, Three Strategies
kets rely on strong economies, thriving
societies, and healthy environments. A company adapts its business strategy to the nuances of the • Toyota focused on the environment in its developed mar-
market it enters. The world’s population of 7 billion people lives in kets. After extensively researching gas-electric hybrid tech-
Topics include the factors that contrib- three different types of markets: nologies, Toyota launched the Prius. As Motor Trend’s Car of
ute to sustainable development, ending • Developed Markets These include the world’s established
the Year, the Prius drove Toyota’s profits to record highs and
gave it a “green” image.
consumer markets, around one billion people. The population is
civil wars that destroy fragile societies, solidly middle class, and people can consume almost any prod-
• Shree Cement faced limited access to low-cost energy in
India’s emerging market. So it developed the world’s most
and how companies make their supply uct desired. The infrastructure is highly developed and efficient.
• Emerging Markets These markets, around two billion
energy-efficient process for making its products. The world’s
leading cement companies now visit Shree to learn from its
chains more environmentally friendly. people, are racing to catch up to developed nations. The
population is migrating to cities for better pay and is over-
innovations in energy usage.
• Culture Matters boxes present the relation loading cities’ infrastructures. Rising incomes are increasing
• Blommer Chocolate of the United States works closely with
cocoa farmers in traditional markets. Blommer received the
global demand for resources and basic products.
between culture and a key chapter topic. • Traditional Markets Globalization has bypassed these markets,
Rainforest Alliance’s “Sustainable Standard-Setter” award
for training farmers in safe farming practices, environmental
nearly four billion people. The population is mostly rural, the
For example, Chapter 2 presents the im- infrastructure is very poor, and there is little credit or collateral.
stewardship, and HIV awareness
portance of businesspeople developing a People have almost no legal protections, and corruption prevails.
Sources: Jeremy Jurgens and Knut Haanæs, “Companies from Emerging Markets Are the
New Sustainability Champions,” The Guardian (www.guardian.co.uk), October 12, 2011;
Like business strategy, sustainability strategies reflect local con-
global mindset and avoiding cultural bias. ditions. Examples of businesses working toward sustainability in
Stuart L. Hart, Capitalism at the Crossroads, Third Edition (Upper Saddle River, NJ:
Wharton School Publishing, 2010); Daniel C. Esty and Andrew S. Winston, Green to Gold
these three markets include the following: (New Haven, CT: Yale University Press, 2006).
Another chapter presents the debate over
are lower. Many European and U.S. businesses have moved their customer service and other
nonessential operations to places as far away as India to slash costs by as much as 60 percent.
ACCESS TECHNICAL EXPERTISE Companies also produce goods and services abroad to benefit
from technical know-how. Film Roman (www.filmroman.com) produces the TV series The
Simpsons, but it provides key poses and step-by-step frame directions to AKOM Production
Company (www.akomkorea.com) in Seoul, South Korea. AKOM then fills in the remaining
poses and links them into an animated whole. But there are bumps along the way, says animation
director Mark Kirkland. In one middle-of-the-night phone call, Kirkland was explaining to the
Koreans how to draw a shooting gun. “They don’t allow guns in Korea; it’s against the law,” says
xxii Preface
globalization’s influence on culture, and still another box shows how entrepreneurs succeed
by exploiting their knowledge of local cultures.
• anager’s Briefcase boxes address issues facing companies active in international business.
M
Issues presented can be relevant to entrepreneurs and small businesses or to the world’s larg-
est global companies. Topics include obtaining capital to finance international activities, get-
ting paid for exports, and how to be mindful of personal security while abroad on business.
• EW Learning Objectives focus on the main lessons students should take away from the
N
material and are summarized in bullet-point format at the end of the chapter. Learning ob-
jectives are now aligned with each main chapter section and with the chapter summary to
aid comprehension.
• NEW Quick Study concept checks help students to verify that they have learned the sec-
tion’s key terms and important concepts before moving on.
• Bottom Line for Business sections conclude chapters and explain the impact of the chap-
ter’s topics on managers and their firms’ policies, strategies, and activities abroad.
• Full-Color World Atlas, which appears as an appendix to Chapter 1, is a primer for students
to test their knowledge of world geography and acts as a reference tool throughout the course.
• Beacons provide students with a “road map” of how chapters relate to one another. These bea-
cons appear at the start of each chapter and are appropriately titled, “A Look Back,” “A Look
at This Chapter,” and “A Look Ahead.”
• PowerPoint slides for instructors contain teaching notes and include question slides to use as in-
class comprehension checks.
• Videos are available to accompany this text and cover topics such as globalization, culture’s
impact on business, international business ethics, foreign direct investment, emerging mar-
kets, and entry modes.
Tools for Active Learning

Feedback on previous editions shows that this book has more—and more useful—end-of-chapter
assignment material than any other international business book. Still, we refined the end-of-chapter
exercises in response to the changing needs and desires of students and instructors. Carefully cho-
sen assignment materials span the full range of complexity in order to test students’ knowledge

and ability to apply key principles.
71
Assignment materials are often experiential in nature to help
CHAPTER2 • CRoss-CulTuRAlBusinEss
students develop decision-making skills. Assignment materi-
Practicing International Management Case als include the following:
A Tale of Two Cultures
• Talk About It questions can be used for in-class discus-
M any cultures in Asia are in the midst of an identity crisis. In
effect, they are being torn between two worlds. Pulling in
one direction is a traditional value system derived from agricul-
their parents choose). Perhaps facilitating shifting values in India
is an influx of Western professionals, such as lawyers, who
accepted good-paying jobs there that could not be found back
sion or as homework assignments. These exercises raise
ture-based communities and extended families—that is, elements
of a culture in which relatives take care of one another and state-
home during the global recession.
Roopa Murthy works for an Indian company that offers call- important issues currently confronting entrepreneurs,
run welfare systems are unnecessary. Pulling from the opposite
direction is a new set of values emerging from manufacturing- and
center and back-office services. Roopa moved to Bangalore from
her native Mysore armed with an accounting degree. She now international managers, policy makers, consumers, and
finance-based economies—elements of a culture in which workers
must often move to faraway cities to find work, sometimes leaving
earns $400 per month, which is several times what her father
earned before he retired from his government job. Roopa cut her others.
•
family members to fend for themselves. hair short and tossed aside her salwar kameez, the traditional
For decades, Western multinational corporations set up facto- loose-fitting clothing she wore back home, in favor of designer- Ethical Challenge exercises (in a “You are the . . .” format)
ries across Southeast Asia to take advantage of relatively low-cost labeled Western attire.
labor. Later, local companies sprang up and became competi- Although she once shunned drinking and her curfew at home ask students to assume the role of a manager, government
tive global players in their own right. Spectacular rates of ecowas 9 p.m., Roopa now frequents a pub called Geoffrey’s, where
nomic growth in a few short decades elevated living standards she enjoys dry martinis and rum, and The Club, a suburban official, or someone else and to make a decision based on
beyond what was thought possible. Young people in Malaysia and disco. Roopa confesses that she is “seeing someone” but that
Thailand felt the lure of “Western” brands. Gucci handbags (www.
gucci.com), Harley-Davidson motorcycles (www.harley-davidson.
her parents would disapprove, adding, “It is difficult to talk to
Indian parents about things like boyfriends.” She said she some-
the facts presented to them.
com), and other global brands became common symbols of suc- times envies her callers’ lives but that she hopes her job will help • Teaming Up projects go beyond the text and require
cess. Many parents felt that brand-consciousness among their her succeed. “I may be a small-town girl, but there is no way
teenage children signaled familywide success.
Despite the growing consumer society, polls of young people
I’m going back to Mysore after this,” she said. Many observers
wonder whether Asia can embrace modernization and yet retain
students to collaborate in teams to conduct interviews,
show them holding steadfast to traditional values such as respect
for family and group harmony. Youth in Hong Kong, for example,
traditional values. research other countries, or hold in-class debates. Projects
overwhelmingly believe that parents should have a say in how
hard they study, in how they treat family members and elders, and
Thinking Globally
2-14. If you worked for an international firm doing business in
expose students to different perspectives when they bring
in their choice of friends.
Now globalization is washing over India. An explosion in out-
Asia, is there anything you would suggest to ease the ten-
sions these cultures are experiencing? Be specific. together students who have different cultural backgrounds.
sourcing jobs caused a social revolution among India’s graduates
of technical colleges and universities. Unlike in India’s traditional
2-15. Social ills in any country are normally born from a multi-
tude of factors. What role, if any, do you think globalization • Market Entry Strategy Project is an interactive
is having in higher reported rates of divorce, crime, and
high-tech service jobs, young call-center staffers are in direct con-
tact with Western consumers, answering inquiries on items such as drug abuse in Asia? simulation that asks students to research a country as a
tummy crunchers and diet pills. For these young, mostly female 2-16. Broadly defined, Asia comprises more than 60 percent
staffers, the work means money, independence, and freedom— of the world’s population—a population that practices future market for a new video game system, the M-Box.
sometimes far away from home in big cities such as Bangalore Buddhism, Confucianism, Hinduism, Islam, and numerous
and Mumbai. But in addition to the training in American accents other religions. Do you think it is possible to carry on a Working as part of a team, students research and ana-
and geography, these workers are learning new ideas about family, valid discussion of “Asian” values? Explain.
materialism, and relationships. lyze a country, and then recommend a course of action.
Parents are suspicious of call-center work because it must
typically be performed at night in India, when consumers are Sources: Heather Timmons, “Outsourcing to India Draws Western Lawyers,”
New York Times (www.nytimes.com), August 4, 2010; Lisa Tsering, “NBC
• Practicing International Management cases ask students
awake in Canada, Europe, or the United States. When her parents
objected, Binitha Venugopal quit her call-center job in favor of a
“regular” daytime job. Binitha says her former coworkers’ values
Picks up Series ‘Outsourced’ for Fall 2010,” Indiawest.com website (www.
indiawest.com), May 27, 2010; Saritha Rai, “India Outsourcing Workers to analyze the responses of real-world companies to the
issues, problems, and opportunities discussed in each
Stressed to The Limit,” Silicon.com website (www.silicon.com; now www.
are changing and that dating and live-in relationships among them techrepublic.com), August 26, 2009; Sol E. Solomon, “Vietnam’s IT Way
are common. Indian tradition dictates that young adults live with to Social Progress,” Bloomberg Businessweek (www.businessweek.com),
their parents at least until they get married (typically to someone May 19, 2008.
chapter.
Preface xxiii
Faculty Resources
Instructor’s Resource Center
At the Instructor Resource Center, www.pearsonhighered.com/irc, instructors can easily register
to gain access to a variety of instructor resources available with this text in downloadable format.
If assistance is needed, our dedicated technical support team is ready to help with the media
supplements that accompany this text. Visit http://247.pearsoned.com for answers to frequently
asked questions and toll-free user support phone numbers.
The following supplements are available with this text:
• Instructor’s Manual
• Test Bank
• TestGen®: Computerized Test Bank
• PowerPoint Presentation
2015 Qualitative Business Video Library

Additional videos illustrating the most important subject topics are available in MyManagementLab,
under
• Instructor Resources: Business Today.
Student Resources
Market Entry Strategy Project
Originally designed by David C. Wyld of Southeastern Louisiana University, this online, interac-
tive project is available only through www.MyManagementLab.com.
CourseSmart
CourseSmart eTextbooks were developed for students looking to save the cost on required or
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Acknowledgments
We are grateful for the encouragement and suggestions provided by many instructors, profes-
sionals, and students in preparing this eighth edition of International Business. We especially
thank the following instructors who provided valuable feedback to improve this and previous
editions:
Reviewers for the 8th edition:

Todd Brachman Marquett University, WI
Anthony C. Koh University of Toledo, OH
Donald J. Kopka Jr Towson University, MD
Jaime Ortiz Texas International Education Consortium, TX
Sam Okoroafo University of Toledo, OH
Mantha Vlahos Mehallis Florida Atlantic University, FL
Leta Beard University of Washington, WA
Elva A. Resendez Texas A&M University, TX
Richard T. Mpoyi Middle Tennessee State University, TN
Thomas Passero Owens Community College, OH
Dale Hartley Laramie County Community College, WY
Another random document with
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after was rayned at the kynge’s benche, and caste, and afterwarde
hanged.”
And what does the reader think the moral is? Some reflection,
perhaps, upon the impunity of those attached to the great, with a hint
at God’s judgment against unjust judges? No such thing:—“By this
ye may see that every wyse man ought to take hede that he sende
nat a folyssche seruante vpon a hasty message that is a matter of
nede.” Not a bad specimen of the morality of the good old times.
Those who would amuse themselves with more monkeyana of
ancient date, will find some choice passages in Erasmus, Porta, and
others; and may learn how a monkey may occasionally supersede
the use of a comb—what a horror monkeys have of tortoises and
snails—how violent is the antipathy between the cock and the ape—
and how both of these were added to the serpent and introduced into
the deadly sack wherein the matricide was inclosed to suffer the
frightful punishment awarded to his unnatural act. But we beg to offer
the following trifle, showing how a monkey can behave at a dinner-
table:—
In a country town, no matter where, there lived the worthiest and
most philosophical of old bachelors, with a warm heart and a sound
head, from whose well-powdered exterior dangled that most
respectable ornament a queue. Long did this august appendage,
now no longer seen, linger among the Benchers of the inns of court.
Two worthies we have yet in our eye—Ultimi Caudatorum! with what
veneration do we look up to ye! with what fear and trembling did we
regard the progress of the influenza!—the destroying angel has
passed by, and the tails still depend from your “frosty pows,”
blessings on ’em!
Pardon the digression; and return we to our bachelor, who
entertained a monkey of such good breeding and so much
discretion, that Jacko was permitted to make one at the dinner-table,
where he was seated in a high child’s chair next to his master, and
took off his glass of perry and water in the same time and measure
with his patron, and in as good a style as Dominie Sampson himself
could have performed the feat. Now, his master’s housekeeper made
the best preserved apricots in the county, and when the said apricots
were enshrined in a tart, the golden fruit set off by the
superincumbent trellis, a more tempting piece of pâtisserie could
hardly be laid before man or monkey. One of these tarts enriched the
board at a small dinner-party, and was placed nearly opposite to
Jacko, who occupied his usual station. The host helped one and
another to some of this exquisite tart, but he forgot poor Jacko, who
had been devouring it with his eyes, and was too well-bred to make
any indecorous snatch at the attraction, as most monkeys would
have done. At last Jacko could stand it no longer, so looking to the
right and left, and finally fixing his eyes on the guests opposite, he
quietly lifted up his hand behind his master’s back, and gave his tail
such a tug as made the powder fly, withdrew his hand in an instant,
and sat with a vacant expression of the greatest innocence. People
don’t like to have their tails pulled. His master gave him a look, and
Jacko gave him another, but even the eloquent expression of
Hogarth’s monkey on the offending bear’s back fell short of it. It said
as plainly as look could speak—“Don’t be angry—don’t thrash me—
they did not see it—I beg your pardon, but I must have a bit of that
apricot tart:”—he was forgiven and helped.
Authors generally seem to think that the monkey race are not
capable of retaining lasting impressions; but their memory is
remarkably tenacious when striking events call it into action.
One that in his zeal for imitation had swallowed the entire contents
of a pill-box—the cathartics, fortunately, were not Morisonian—
suffered so much, that ever afterwards the production of such a box
sent him to his hiding-place in a twinkling.
Another that was permitted to run free had frequently seen the
men-servants in the great country kitchen, with its huge fireplace,
take down a powder-horn that stood on the chimney-piece, and
throw a few grains into the fire, to make Jemima and the rest of the
maids jump and scream, which they always did on such occasions
very prettily. Pug watched his opportunity, and when all was still, and
he had the kitchen entirely to himself, he clambered up, got
possession of the well-filled powder-horn, perched himself very
gingerly on one of the horizontal wheels placed for the support of
saucepans, right over the waning ashes of an almost extinct wood-
fire, screwed off the top of the horn, and reversed it over the grate.
The explosion sent him half-way up the chimney. Before he was
blown up he was a smug, trim, well-conditioned monkey as you
would wish to see on a summer’s day: he came down a
carbonadoed nigger in miniature, in an avalanche of burning soot.
The à plomb with which he pitched upon the hot ashes in the midst
of the general flare-up aroused him to a sense of his condition. He
was missing for days. Hunger at last drove him forth, and he
sneaked into the house close-singed, begrimed, and looking scared
and devilish. He recovered with care, but, like some other great
personages, he never got over his sudden elevation and fall, but
became a sadder if not a wiser monkey. If ever pug forgot himself
and was troublesome, you had only to take down a powder-horn in
his presence, and he was off to his hole like a shot, screaming and
clattering his jaws like a pair of castanets.
Le Vaillant, in his African travels, was accompanied by an ape,
which lived on very good terms with the cocks and hens, showing, in
defiance of the legend, no antipathy to the former, and a strong
penchant for the latter, for whose cacklings he listened, and whose
eggs he stole. But this and other peccadillos were amply atoned for
by the bonhommie and other good qualities of Kees, for that was the
name of the traveller’s ape, which seems to have almost realised the
virtues of Philip Quarl’s monkey.
“An animal,” says Le Vaillant in his first voyage, just after speaking
of the benefits that he derived from his gallant chanticleer, “that
rendered me more essential services; which, by its useful presence,
suspended and even dissipated certain bitter and disagreeable
reflections that occurred to my mind, which by its simple and striking
instinct seemed to anticipate my efforts, and which comforted me in
my languor—was an ape, of that kind so common at the Cape, under
the name of Bawians. As it was extremely familiar, and attached
itself to me in a particular manner, I made it my taster. When we
found any fruit or roots unknown to my Hottentots, we never touched
them until my dear Kees had first tasted them: if it refused them we
judged them to be either disagreeable or dangerous, and threw them
away.
“An ape has one peculiarity which distinguishes it from all other
animals, and brings it very near to man. It has received from nature
an equal share of greediness and curiosity: though destitute of
appetite, it tastes without necessity every kind of food that is offered
to it; and always lays its paw upon everything it finds within its reach.
“There was another quality in Kees which I valued still more. He
was my best guardian; and whether by night or by day he instantly
awoke on the least sign of danger. By his cries, and other
expressions of fear, we were always informed of the approach of an
enemy before my dogs could discover it: they were so accustomed
to his voice that they slept in perfect security, and never went the
rounds; on which account I was extremely angry, fearing that I
should no longer find that indispensable assistance which I had a
right to expect, if any disorder or fatal accident should deprive me of
my faithful guardian. However, when he had once given the alarm,
they all stopped to watch the signal; and on the least motion of his
eyes, or shaking of his head, I have seen them all rush forward, and
scamper away in the quarter to which they observed his looks
directed.
“I often carried him along with me in my hunting excursions, during
which he would amuse himself in climbing up trees, in order to
search for gum, of which he was remarkably fond. Sometimes he
discovered honey in the crevices of rocks, or in hollow trees; but
when he found nothing, when fatigue and exercise had whetted his
appetite, and when he began to be seriously oppressed by hunger, a
scene took place which to me appeared extremely comic. When he
could not find gum and honey he searched for roots, and ate them
with much relish; especially one of a particular species, which,
unfortunately for me, I found excellent and very refreshing, and
which I greatly wished to partake of. But Kees was very cunning:
when he found any of this root, if I was not near him to claim my part,
he made great haste to devour it, having his eyes all the while
directed towards me. By the distance I had to go before I could
approach him, be judged of the time he had to eat it alone; and I,
indeed, arrived too late. Sometimes, however, when he was
deceived in his calculation, and when I came upon him sooner than
he expected, he instantly endeavoured to conceal the morsels from
me; but by means of a blow well applied I compelled him to restore
the theft; and in my turn becoming master of the envied prey, he was
obliged to receive laws from the stronger party. Kees entertained no
hatred or rancour; and I easily made him comprehend how
detestable that base selfishness was of which he had set me an
example.”
This is all very fine, but we confess that we think poor Kees hardly
used in this matter; nor are we aware of any law, written or unwritten,
human or Simian, by which the conversion of the root, which he had
sagaciously found, to his own use could be made a theft, or by which
the prize could be ravished from him, except, indeed, by the “good
old law” that “sufficeth” people in such cases—
“the simple plan,

That they should take who have the power,
And they should keep who can.”
But to return to Le Vaillant’s entertaining narrative.

“To tear up these roots, Kees pursued a very ingenious method,
which afforded me much amusement. He laid hold of the tuft of
leaves with his teeth; and pressing his fore paws firmly against the
earth, and drawing his head backwards, the root generally followed:
when this method, which required considerable force, did not
succeed, he seized the tuft as before, as close to the earth as he
could; then throwing his heels over his head, the root always yielded
to the jerk which he gave it. In our marches, when he found himself
tired, he got upon the back of one of my dogs, which had the
complaisance to carry him for whole hours together: one only, which
was larger and stronger than the rest, ought to have served him for
this purpose; but the cunning animal well knew how to avoid this
drudgery. The moment he perceived Kees on his shoulders he
remained motionless, and suffered the caravan to pass on, without
ever stirring from the spot. The timorous Kees still persisted; but as
soon as he began to lose sight of us he was obliged to dismount,
and he and the dog ran with all their might to overtake us. For fear of
being surprised, the dog dexterously suffered him to get before him,
and watched him with great attention. In short, he had acquired an
ascendency over my whole pack, for which he was perhaps indebted
to the superiority of his instinct; for among animals, as among men,
address often gets the better of strength. While at his meals Kees
could not endure guests; if any of the dogs approached too near to
him at that time, he gave them a hearty blow, which these poltroons
never returned, but scampered away as fast as they could.
“It appeared to me extremely singular, and I could not account for
it, that, next to the serpent, the animal which he most dreaded was
one of his own species: whether it was that he was sensible that his
being tamed had deprived him of great part of his faculties, and that
fear had got possession of his senses, or that he was jealous and
dreaded a rivalry in my friendship. It would have been very easy for
me to catch wild ones and tame them; but I never thought of it. I had
given Kees a place in my heart which no other after him could
occupy; and I sufficiently testified how far he might depend on my
constancy. Sometimes he heard others of the same species making
a noise in the mountains; and, notwithstanding his terror, he thought
proper, I know not for what reason, to reply to them. When they
heard his voice they approached: but as soon as he perceived any of
them he fled with horrible cries; and, running between our legs,
implored the protection of everybody, while his limbs quivered
through fear. We found it no easy matter to calm him; but he
gradually resumed, after some time, his natural tranquillity. He was
very much addicted to thieving, a fault common to almost all
domestic animals; but in Kees it became a talent, the ingenious
efforts of which I admired. Notwithstanding all the correction
bestowed upon him by my people, who took the matter seriously, he
was never amended. He knew perfectly well how to untie the ropes
of a basket, to take provisions from it, and, above all, milk, of which
he was remarkably fond: more than once he has made me go
without any. I often beat him pretty severely myself; but, when he
escaped from me, he did not appear at my tent till towards night.”
“Milk in baskets!” why, truly, the term “basket” as applied to a
vessel for holding milk appears to require some explanation; but it
was really carried in baskets woven by the Gonaquas, of reeds, so
delicate and so close in texture that they might be employed in
carrying water or any liquid. The abstraction of the milk, &c., we
consider as a kind of set-off against the appropriation of Kees’s
favourite root by his master.
The pertinacious way in which Kees bestrode Le Vaillant’s dogs
will recall to the remembrance of some a monkey that was, and
perhaps still is, riding about London, in hat and feather, with
garments to match, upon a great dog, with the usual
accompaniments of hand-organ and Pan’s pipe. Upon these
occasions the monkey evidently felt proud of his commanding
position; but ever and anon we have seen him suffer from one of
those sad reverses of fortune to which the greatest amongst us are
subject. In the midst of the performance, while the organ and pipe
are playing, and the monkey has it all his own way, and, elevated
with the grandeur that surrounds him, is looking rather aristocratically
at the admiring crowd, some good-natured but unlucky boy throws
the dog a bit of cake, in his zeal to pick up which the latter lowers his
head and shoulders so suddenly as infallibly to pitch his rider over
his head. We have thought more than once that there was a sly look
about the dog as he regarded the unseated monkey, utterly
confounded by his downfall and the accompanying shouts of
laughter from the bystanders.
We have already stated that the South American monkeys are all
blessed with tails, but they are deprived of those brilliant blue and
red callosities which give so much splendour to the integuments of
many of the Old World family, and recall sometimes a part of the
costume of a certain unearthly pedestrian; for his femoral
habiliments
“were blue,
And there was a hole where the tail came through.”
Neither do they rejoice in cheek pouches: they are, consequently,
unable to keep anything in the corner of their jaws, or to furnish forth
any rebuke to the Rosencrantzes and Guildensterns of the several
courts in this best of all possible worlds.
When Humboldt and Bonpland landed at Cumana they saw the
first troops of Araguatos, Mycetes Ursinus (it is nearly three feet in
length, without including the tail), as they journeyed to the mountains
of Cocallor and the celebrated cavern of Guacharo. The forests that
surrounded the convent of Caripe, which is highly elevated, and
where the centigrade thermometer fell to 70° during the night,
abounded with them, and their mournful howling was heard,
particularly in open weather or before rain or storms, at the distance
of half a league. Upwards of forty of this gregarious species were
counted upon one tree on the banks of the Apure; and Humboldt
declares his conviction that, in a square league of these
wildernesses, more than two thousand may be found. Melancholy is
the expression of the creature’s eye, listless is its gait, and dismal is
its voice. The young ones never play in captivity like the Sagoins; no,
“The Araguato de los Cumanenses,” as the worthy Lopez de
Gomara voucheth, “hath the face of a man, the beard of a goat, and
a staid behaviour,” such, in short, as may well beseem the possessor
of such a “powerful organ,” as the newspaper critics have it.
We will endeavour, with Humboldt’s assistance, to convey to the
reader some idea of the structure of this sonorous instrument. That
most observing traveller states that the bony case of the os hyoïdes,
or bone of the tongue, in the Mona Colorado is, in size, equal to four
cubic inches (water measurement). The larynx, or windpipe,
consisting of six pouches, ten lines in length and from three to five in
depth, is slightly attached by muscular fibres. The pouches are like
those of the little whistling monkeys, squirrels, and some birds.
Above these pouches are two others, the lips or borders of which are
of a yellowish cast; these are the pyramidal sacs which are formed
by membranous partitions and enter into the bony case. Into these
sacs, which are from three to four inches in length and terminate in a
point, the air is driven; the fifth pouch is in the aperture of the
arytenoïd cartilage, and is situated between the pyramidal sacs, of
the same form but shorter; and the sixth pouch is formed by the bony
drum itself: within this drum the voice acquires the doleful tone
above alluded to.
The Quata, or, as the French write the word, Coaita (Ateles
paniscus), is said to unite activity with intelligence, gentleness,
prudence, and penetration. To be sure the Quatas will, when they
meet with a learned traveller, or any other strange animal, descend
to the lower branches of their trees, to examine the phenomenon,
and, when they have satisfied their curiosity, pelt the phenomenon
aforesaid to get rid of him or it; but that they be sensible and
trustworthy is proved by Acosta, who has immortalised the Quata
belonging to the Governor of Carthagena. This domestic was
regularly sent to the tavern for wine. They who sent him put an
empty pot into one hand, and the money into the other; whereupon
he went spidering along to the tavern, where they could by no means
get his money from him till they had filled his pot with wine. As this
Ganymede of the Governor came back with his charge, certain idle
children would occasionally meet him in the street and cast stones at
him; whereupon he would set down his pot and cast stones at them,
“till he had assured his way, then would he return to carry home his
pot. And what is more, although he was a good bibber of wine, yet
would he never touch it till leave was given him.” We are sorry to add
that this amiable genus is considered very good eating. Humboldt
frequently saw the broiled limbs of the Marimonda in the huts of the
natives on the Orinoco; and, at Emeralda, he found in an Indian hut
a collation of their roasted and dried bodies, prepared as the pièces
de résistance for a “harvest home.”
Of the Cebi, the Horned Sapajou (Cebus Albifrons), with the hair
of its forehead standing up so as to give the animal the appearance
of having a London waterman’s cap on, is one of the largest, while
the Ouavapavi des cataractes, which is very mild and intelligent, is of
small size. We remember once to have heard of a sort of compact
which was said to have been entered into between a monkey and a
pig, the latter of which carried the monkey a certain number of times
round an orchard, in consideration of the monkey’s climbing the
apple-trees, and giving them a shake for the benefit of the porker.
Though not very old at the time, we gave the narrator credit for being
blessed with a very lively imagination, albeit the story was told
gravely and vouched as a fact. But Humboldt actually saw, at
Maypures, one of these domesticated Ouavapavis obtaining his
rides apparently without any such understanding; for this clever
monkey used to bide his time, and every morning caught a luckless
pig, which he compelled to perform the part of his horse. Seated on
pigback did he majestically ride about, the whole day, clinging to his
bristly steed as firmly as ever the Old Man of the Sea clung to
Sinbad, not even giving poor piggy a respite at meal times, but
continually bestriding him all the time he was feeding in the savanna
that surrounded the Indian huts. A missionary had another of these
riders; but the missionary’s monkey had laid the strong hand of
possession on a comfortable cat which had been brought up with
him, carried him well, and bore all his felestrian exploits with
patience and good-humour.
The tail, which has become less and less prehensile in the genera
last noticed, becomes in Callithrix no longer capable of use as a
support. The pretty playful little Siamiri, whose length hardly exceeds
ten inches exclusive of the tail, which reaches thirteen or fourteen,
winds that appendage like a boa round its body and limbs, reminding
the zoologist in some degree of the mode in which the white-fronted
Lemur disposes of his; and we now begin to observe, moreover,
traces of insectivorous and carnivorous appetite. The Macavacahow,
at the sight of a bird, is roused at once from its apparent apathy;
darting on its victim like a cat, it secures the prize, and swallows it in
an instant, with all the actions that mark the beast of prey.
In the Dourocouli, the Cara rayada of the missionaries, we
observe traces of the cat in appearance, voice, and manners. This
curious animal is nine inches in length; and its tail, which is hairy, but
not prehensile, is about fourteen; the head is large and round; the
muzzle short; the eyes very large; but there is no apparent external
ear. Three dark stripes are drawn on the head, and come down in
front, the centre stripe on the forehead and the two lateral ones
reaching to the rounded corners of the eyebrows.
The animal is, during the day, “a huge sleeper,” whence its name
“Mono Dormillon.” Humboldt, notwithstanding the warning of the
natives, that the Dourocoulis will tear out the eyes of slumbering
men, kept one in his bedroom. It slept regularly from nine in the
morning till seven at night; and sometimes it went to sleep at
daybreak. It hated the light, and, when disturbed, the lethargic
animal could scarcely raise its heavy white eyelids; and its large
eyes, which, at nightfall, were lighted up like those of an owl, were
lustreless. It must have been but a restless companion for the night:
then it was all exertion and activity, made wild noises, and was
constantly jumping up against the walls. It lived for five months, but
all attempts to tame it were fruitless.
The Dourocoulis are captured during the day by the natives, when
they are fast asleep in some hollow tree. The male and female are
often taken in the same hole, for they live in pairs. In a state of
nature they pursue small birds and insects, not neglecting
vegetables, almost every kind of which they will eat. Humboldt’s
specimen was very fond of flies, which it caught dexterously, and
would even sometimes rouse itself for this chase on a gloomy day.
Its night-cry resembled that of the Jaguar, and it is thence called Titi-
tigre. The mewing notes which it occasionally sends forth remind the
hearer of a cat, and this resemblance is heightened when the head
of a Douroucouli in a state of irritation swells, and the animal hisses
or spits, throws itself into the position of a cat when attacked by a
dog, and strikes quick and cat-like with its paw. Its voice is very
powerful for its size. In the Leoncito, whose body does not exceed
seven or eight inches in length, we have much of the appearance of
a tiny lion.
But it is in the genus Pithecia that we have the nearest approach
to human likeness. There are some strong resemblances in the
Couxio; but, as Humboldt well observes, of all the monkeys of
America, the Capuchin of the Orinoco bears the greatest similitude in
its features to man. There are the eyes with their mingled expression
of melancholy and fierceness; there is the long thick beard; and, as
this last conceals the chin, the facial angle appears much less than it
really is. Strong, active, fierce, the Capuchin is tamed with the
greatest difficulty, and, when angered, he raises himself on his
hinder extremities, grinds his teeth in his wrath, and leaps around his
antagonist with threatening gestures. If any malicious person wishes
to see this Homunculus in a most devouring rage, let him wet the
Capuchin’s beard, and he will find that such an act is the
unforgivable sin. There is one point, indeed, wherein our monkey
differs from civilised man—he very seldom drinks; but, when he
does, the similarity returns. Unlike the other American monkeys,
which bring their lips to the liquid, the Capuchin lifts the water in the
hollow of his hand, inclines his head upon his shoulder, and, carrying
the draught to his mouth in the cup of Diogenes, drains it with great
deliberation. This appears to be his mode of drinking in a state of
nature; and Humboldt thinks that it is adopted to prevent the wetting
of the beard which renders the animal furious, and which could not
be avoided if the lips were applied in the usual Simian mode. Our
friend the Capuchin is about two feet nine, bushy tail and all, of a
brownish red colour, the hair of the body being long, and that on the
forehead having a direction forwards. The beard, which arises below
the ears, is brown, inclining to black, and covers the upper part of the
breast. His large sunken eyes are overarched with well-marked
brows, and his nails are bent, with the exception of those on his
thumbs. He is not gregarious, and is seldom found in company with
his female.
We must not omit to notice another of these Pitheciæ with black
face and hands and a shorter tail, having a good deal of the general
aspect in miniature of one of those respectable, ancient, withered
negroes, who, after a long life of slavery, find themselves, in their old
age, transmuted, by legislative magic, into apprentices. This species,
which is termed the Cacajao, is hardly more than a foot long. It is
voracious, weak, very lazy, mild, easily frightened, and lives in troops
in the forests.
In Callathrix and Aotes the carnivorous propensity and character
are, as we have seen, joined to the general habits of the monkey;
and we proceed to finish this imperfect sketch of the American
Simiadæ by calling the reader’s attention to forms distinguished by a
union of that character and propensity with squirrel-like manners.
Such are the genera Hapales and Midas. To the latter belong the
pretty diminutive Marikina or Silky Monkey and the Leoncito before
alluded to. These, though their way of life is but little ascertained, are
supposed hardly ever to quit the trees.
Of the debonnaire Ouistiti or Sanglain much more is known. This
small, delicate creature, with its rich pale grey coat, and pale
greyish-white ear-tufts, like the ailes de pigeon of the old beau of
other days, feeds in its native woods not only on fruits, roots, and
seeds, but also indulges occasionally in insects and little birds. In
captivity the Sanglains are great pets, and Edwards relates a curious
instance of the craving for something that possessed life breaking
out in one that was the favourite of a lady. Once, when he was let
loose, he snatched a gold fish from its “watery glass,” and instantly
killed and devoured it. The lady, upon this, made him a present of
some live eels, and, as the little fellow was not more than eight
inches long without his tail, these lively gifts frightened him at first a
good deal by twisting round his neck when he seized them. His
carnivorous nature, however, prevailed, and, without a well-sanded
hand, he soon mastered and ate them.
The great French naturalist Cuvier had an opportunity of observing
their domestic arrangements in a conjugal state. He had a pair who
were blessed with three young ones; but it seems to have been the
Lady Sanglain’s first accouchement, and she had no experienced
female friend to direct her; so after regarding her interesting progeny,
she proceeded to bite off the head of one of them; the other two, in
the meantime, took to the breast, and the moment the mother felt
them she was all affection. The papa was even more affectionate
than the mamma, and assiduously assisted in the nursery. The
favourite position of the young ones was upon the back or bosom of
the mother; and, when she was tired of nursing she would come up
to her mate with a shrill cry, which said as plainly as cry could speak,
“Here! do take the children.” He, like a good-natured father,
immediately stretched forth his hands and placed his offspring upon
his back or under his body, where they held on while he carried them
about, till they became restless for want of that which he could not
give them; and then he handed them back to his partner, who, after
satisfying their hunger, again turned them over to their papa.
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The Challenges of Globalization 8th

(eBook PDF) International Business The Challenges of

(eBook PDF) International Business: The Challenges of

(eBook PDF) International Business: The Challenges of

International Business: The Challenges of

(eBook PDF) The Globalization of World Politics An

(eBook PDF) The Globalization of World Politics: An

(eBook PDF) The Globalization of World Politics: An

(eBook PDF) International Business: Challenges in a

Part 1 Global Business Environment 2

Appendix World Atlas 31

Part 2 National Business Environments 40

Chapter 3 Political Economy and Ethics 72

Chapter 4 Economic Development of Nations 104

Emerging Markets and Economic Transition 122

Part 3 International Trade and Investment 132

Chapter 6 Political Economy of Trade 156

Chapter 7 Foreign Direct Investment 178

Reasons for Intervention by the Host Country 190

Chapter 8 Regional Economic Integration 200

Part 4 The International Financial System 226

Appendix Calculating Percent Change in Exchange Rates 249

Chapter 10 International Monetary System 250

Fixed Exchange Rate Systems 260

Part 5 International Business Management 274

Chapter 12 Analyzing International Opportunities 296

Secondary Market Research 310

Chapter 13 Selecting and Managing Entry Modes 320

Chapter 14 Developing and Marketing Products 346

Chapter 15 Managing International Operations 366

■ Culture Matters: Financing Business from Abroad 380

Chapter 16 Hiring and Managing Employees 386

Welcome to the eighth edition of International Business: The Challenges of Globalization. As in

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own hot tub or let a professional installer perform

terial in an accessible manner—helps students to

Chapter 1) is a unique organizing framework that Hiring and

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Reviewers for the 8th edition:

“the simple plan,

But to return to Le Vaillant’s entertaining narrative.

BEETON’S BOY’S OWN LIBRARY.

The best set of Volumes for Prizes, Rewards, or Gifts to English

1. STORIES OF THE WARS. Tillotson. From the Rise of

In an age of great competition and little leisure, the value of Time

Each Volume complete in itself, and containing from 512 to 590

Beeton’s Ready Reckoner. A Business and Family

THE LILY SERIES.

1. A Summer in Leslie Goldthwaite’s Life. By the Author of

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