Chapter 11-16
These chapters is all about Corporate Policy and Strategy. It examines globalization and society
from the standpoint of ethics and social responsibility. Initially, it examine ethics in a global context,
especially in issues surrounding bribery and corruption, the environment, and corporate codes of
conduct. Companies create Codes of Conduct to help their employees understand how they are
expected to act. Ultimately, however, individuals are the ones that make decisions, so companies must
be sure to hire ethical employees. Companies respond to the pressures for greater corporate social
responsibility by establishing codes of conduct, distributing them to suppliers and subcontractors
internationally, and ensuring compliance with the codes through effective training and auditing
programs. Managers devise strategies to engage international markets in ways that that fortify their
companies’ competiveness, boost their profitability, and sustain their growth. The company
implementing a transnational strategy aims not to work harder or work smarter than competitors but
rather work differently based on diffusing the lessons it has learned and the knowledge it has earned
throughout its worldwide operations. On the other hand, this chapter also evaluates countries for
operations, grasp company strategies for sequencing the penetration of countries. Companies must
develop location strategies for new investments and devise means of deemphasizing certain areas and
divesting if necessary and often evaluate entry to a country without comparing it with other
countries. This is because they may need to react quickly to proposals or respond to competitive threats,
and because multiple feasibility studies seldom are finished simultaneously. In connection, exports and
imports have always been an important facet of the global economy. As globalization, free trade
agreements, and institutional development open the economies of more and more countries, the
importance of international trade increases. Thus, companies must choose an international operating
mode to fulfill their objectives and carry out their strategies. Companies exercise control through
market, bureaucratic, and clan mechanisms. Market control relies on external market mechanisms;
bureaucratic control relies on extensive rules and procedures; clan control relies on shared values
among employees and firms engaging different strategies build different organizations. Firms
engaging international, multidomestic, global, or transnational strategies tailor their structures, systems,
and cultures to the respective demands of their choices.
Chapter 17-20
These chapters is all about Functional Management and Operations. The application of different
marketing strategies to international operations, examine the marketing mix elements of product,
pricing, promotion, branding, and distribution, and explain the major factors to consider for each
element when operating internationally and consider the need to vary the emphasis within the
marketing mix to fit the conditions of each country. Most companies agree that effective supply-chain
management is one of their most important tools in reducing costs and boosting revenue. Throughout
this chapter we will explore the different networks and examine the links in an effective global supply
chain, discuss the international dimensions of the global supply chain—from input to operations to final
distribution to the consumer—through the following perspectives: the upstream processes of the
purchasing function and supplier networks; operations strategy; the role of information technology in
global supply-chain management; operations management including quality, total quality management
and just-in-time inventory management; and downstream processes including effective transportation
networks. On the other hand, the Global accounting and Financial Management, examine the major
factors influencing the development of accounting practices in different countries and how companies
account for foreign-currency transactions and translate foreign-currency financial statements. This
focuses on the CFO’s role and examines not only the importance of accounting but also how the
treasurer manages a company’s financial flows. In connection, the Global Management of human
resources, discusses its importance, assess how MNes select, prepare, compensate, and retain
expatriates and consider the role of language in the international assignment. Thus, the focus of this, is
the spirit of a career in international business.