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The moral rights of the authors have been asserted
First edition 2009
Second edition 2012
Third edition 2015
Impression: 1
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You must not circulate this work in any other form and you must impose this same condition on any acquirer
Published in the United States of America by Oxford University Press 198 Madison Avenue, New York, NY 10016, United States of America
British Library Cataloguing in Publication Data Data available
Library of Congress Control Number: 2018959889
ISBN 978–0–19–252644–1
Printed in Great Britain by Bell & Bain Ltd., Glasgow
Links to third party websites are provided by Oxford in good faith and for information only. Oxford disclaims any responsibility for the materials contained in any third party website referenced in this work.
New to this edition
This fourth edition has been revised and updated throughout. The changes include new material on Brexit, the election of Donald Trump, and more material on Africa, Latin America, and the Middle East. This edition incorporates new case studies, mini case studies, and learning tasks. The case studies are drawn from a wide range of geographical areas with a particular emphasis on emerging markets. We have also included cases on some of the giant MNCs—Google, Apple, and Facebook—that are such important actors in the international business environment.
We are indebted to all of the Oxford editorial team for their terrific support throughout, especially Angela Adams (Commissioning Editor) for encouraging us to develop the idea for the book, Helen Adams, Gina Policelli, and Kirsten Shankland (Development Editors on the first, second, and third editions), and Kate Gilks (Publishing Editor for this fourth edition) for her constant support and guidance.
Over the years spent teaching at Leeds Met (now Leeds Beckett University), we have been grateful for the comments and reflections of our domestic and foreign students who have taken the International Business Environment module. We hope that we have learned from these to produce a book that meets the needs of the intended wider audience of future students.
Oxford University Press acknowledgements
In listing those whom OUP would like to thank, we include the many reviewers who made a direct contribution to the way this book was put together. We express our gratitude to all who helped us. The authors and publisher are grateful to those who granted permission to reproduce copyright material. Every effort has been made to trace and contact copyright holders. If notified, the publisher will undertake to rectify any errors or omissions at the earliest opportunity. The authors and publishers would like to extend thanks to the following for use of images in the book:
expenditure, percentage of GDP 1960, 1990, and 2016
expenditure by policy area as percentage of GDP 2015
Figure 7.4 Social protection spending as a percentage of total government expenditure, 2015
Figure 7.5 Inflows of asylum seekers into European countries, per 1,000 population 2015/16
Figure 7.6
Figure 7.7
Figure 7.8
of population aged 60 or older in 2050
and regional youth unemployment rates (15–24 years)
deaths attributable to AMR by 2050
Figure 8.1 IoT connected devices installed base worldwide from 2015 to 2025 (in billions)
Figure 8.2 Number of smartphone users worldwide from 2014 to 2020 (billions)
Figure 8.3
Figure 8.4
Figure 8.5
of users of digital platforms
sales of navigation devices in 2015
growth in global air traffic passenger demand from 2007 to 2017
Figure 8.6 R&D expenditures of foreign firms as a percentage of total business R&D expenditure in OECD member countries, 1999–2011, unweighted median and mean
Figure 8.7
Figure
Figure
table 7.3 Muslims as a percentage of population in selected Western European countries
table 7.4 Health indicators 2015
table 7.5 World population 1950, 1975, 2017, 2030
table 7.6 The ten most populous countries (millions)
table 7.7 Public social expenditure (as a percentage of GDP)
table 8.1 Top 10 global innovators in 2016, by sector
table 8.2 Share of total global R&D spending 2014–16
table 8.3 Top 10 global companies by R&D expenditure, 2016
table 8.4 Apple’s performance 2005–2016
table 8.5 The ten biggest R&D spenders, 2013
table 8.6 RIM/BlackBerry’s performance 2005–15
table 9.1 General government expenditures as a percentage of GDP
table 9.2 Tax revenue as a percentage of GDP
table 10.1 Saudi Arabia—legal system and business
table 10.2 The ten highest cartel fines by company
table 11.1 World’s top ten banks by assets
table 11.2 Bank rescues 2007/08
list of cases
Chapter
Chapter 2:
Chapter 3:
Chapter 4:
Chapter
Chapter
Chapter 7:
Case study Saudi Arabia: Women and the labour market
Mini Case study 7.1 Can Coca-Cola sell tea to China?
Mini Case study 7.2 Testing Hofstede
Mini Case study 7.3 Hofstede and marketing
Mini Case study 7.4 Youth unemployment—a social time bomb
Chapter 8:
Case study The rise of the ‘Internet of Things’
Mini Case study 8.1 Data are the new oil
Mini Case study 8.2 China and the Internet
Mini Case study 8.3 GPS technology: a threat to minds and safety?
Mini Case study 8.4 Automation and commercial aviation
study 8.5 The global crisis and R&D
The rise of Apple and fall of RIM
Chapter 9:
Case study Fake news, technology, and the electoral process
Mini
study 9.2 Private prisons—the shadow state?
Chapter 10:
Chapter 11:
Case
Deutsche Bank—too big to fail
Mini Case study 11.2 Panama Papers and the banks
Mini
study 11.3 Day of reckoning for the bankers?
11.4 Shadow banking and the next crisis?
Chapter 12:
Case
The air that we breathe
12.2 Plan A or Plan B?
Guide to the book
This book is aimed at undergraduate students and Masters-level students taking an introductory module on either the Business Environment or International Business Environment on business or related courses. It will provide a thorough underpinning for those modules which deal with International Business Management or Strategy.
The International Business Environment takes, as its starting point, a global perspective with a focus on understanding the global economy, the globalization process, and its impact on international business organizations. It examines the institutions and processes of the global economy and the economic, political, technological, and socio-cultural environment within which business organizations operate.
The International Business Environment is based on a module that the authors have successfully taught for a number of years. The authors have combined experience in academia of module development and delivery at undergraduate and postgraduate level, and this has provided the foundation for this text. Les and Phil have vast experience of teaching the International Business Environment and Business Strategy, and the text benefits from this experience and the feedback from students, including many international students, on these modules.
Why use this book?
This book is aimed at undergraduate students studying the International Business Environment as part of a Business or International Business degree. It also offers an essential knowledge base for postgraduate students in Business, especially those specializing in the International Business Environment.
The text provides comprehensive coverage of the core topics that are central to the International Business Environment. Each topic is presented with a balance of theory, case studies, and exercises aimed to develop the reader’s ability to understand and analyse the internal and external environmental factors affecting the business environment.
The case studies and examples used throughout the text identify the opportunities and threats to business organizations arising from changes in the global business environment. Detailed case studies, highlighting key concepts and issues from the chapter, are provided at the start and end of each chapter.
structure of the book
The book is divided into two parts. The first section, The Global Context, comprises Chapters 1–6 and sets the context for the international business environment, while in the second section, Global Issues, Chapters 7–12 deal with a range of global issues.
The first chapter of the book describes the process of the globalization of markets and production, and examines the key drivers and barriers to that process. It emphasizes the increasing complexity and interdependence of the world economy, concluding that the opportunities and threats arising from the global business environment can have consequences for all business organizations. Chapter 2 examines in more detail some of the more important features of the
world economy. It identifies the pattern of global wealth and inequality, and the pattern of international trade. Chapters 3, 4, and 6 include detailed analytical frameworks that provide the tools to enable students to undertake an analysis of external environmental issues and how these impact on business organizations. Chapter 3 looks at the analysis of industries while Chapter 4 places this analysis within an examination of the global macro-environment using the familiar PESTLE framework. These frameworks are then used in Chapter 6 to assess country attractiveness as markets or locations for production. Chapter 5 raises, as part of the context of international business, some of the important issues which arise in the field of corporate social responsibility. Chapters 7–12 analyse in detail the issues in the socio-cultural, technological, political, legal, financial, and ecological environments.
How to use this book
LEARNING OUTCOMES
This chapter will enable you to:
● explain the nature of globalization; ● assess the pace and extent of globalization;
Identify and review with Learning Outcomes
Introducing you to every chapter, learning outcomes outline the main concepts and themes that the chapter covers to clearly identify what you can expect to learn. They can also be used to review your learning and effectively plan your revision.
Contextualize and explore with Case Studies
Topical, diverse case studies at the beginnings and ends of chapters contextualize key ideas and explore real-life examples from the business world.
The founders of Google claimed that the company was ‘not a conventional company. We do not intend to become one’ (SEC 10-K filing 2016). The brand is one of the world’s most recognized and generates revenues through online advertising. Its
Analyse and apply with Mini Case Studies
Distributed across chapters, these shorter cases illustrate theories and concepts discussed in the chapter, prompting you to analyse how organizations actually apply these ideas in practice.
Evaluate and challenge with Counterpoint Boxes
Develop your critical thinking skills by evaluating alternative viewpoints and challenging key ideas, either through class discussion or your own reading.
For several decades, the Chinese economy has been growing and industrializing very rapidly. It has had a major impact on international trade and investment. It is the world’s largest exporter of goods and a major source of foreign direct investment (FDI). To feed the rapid expansion of Chinese industry, it
Practise and learn with Learning Tasks
Ocean of inte tive co cantly
Put your knowledge into practice with a range of learning tasks designed to test and develop your understanding.
Mini Case Study 1.1 One belt one road
Persian
Recap and consolidate with Chapter Summaries
Finish every chapter by recapping key themes and consolidating your understanding with these easy-todigest summaries.
● REVIEW QUESTIONS
1. What is globalization?
2. Where is globalization mainly taking place? Why should that be the
3. Identify the main:
a. indicators of globalization;
b driversofglobalization;
Research and problem-solve with Assignment Tasks
What would you do if you were a business manager?
What solutions would you suggest as a researcher?
Use these scenario-type questions to develop your research, reasoning, and problem-solving skills.
● FURTHER READING
For a discussion of the discussion and debates around globalization, see ● Baldwin, R. (2016) The Great Convergence: Information Technology an Harvard University Press.
Define and check with the Glossary
Key terms are highlighted in the book and then defined in this end-of-book glossary, helping you to check your understanding and usage of terminology.
● CHAPTER SUMMARY
In this chapter, we have explained the nature of globalization as a proc nations are reduced. Nations thereby become increasingly interdepende of this interdependence is between members of the NAFTA, Western Eu the rest of the world playing a minor role. Their dominance is under so m South Korea. Increased interdependence is indicated by increases in exc ifii litl dl
Test and revise with Review Questions
Check your progress and test your knowledge with these end-of-chapter questions, designed to help you revise the coverage of each chapter.
● ASSIGNMENT TASKS
1. You are a reporter for a quality business newspaper. The editor asks whether globalization is faltering. In the article you should:
a. analyse and illustrate the growth in trade and FDI; and
b. assess the challenge to globalization posed by President Trump’s
2. CityUK, the body representing UK financial services, aims to persua unrestricted access to the Single Market, allowing them to operate
Develop and advance with Further Reading
Advance your learning and further develop your understanding with relevant and recommended supplementary reading.
Absolute cost barriers obstacles deterring entry of new firms because the capital costs of entering are huge or where the existing firms control a vital resource, e.g. oil reser ves—the company Aramco controls 98 per cent of Saudi Arabian oil reser ves
Accountability the idea that organizations and people
Supporting content for both students and registered lecturers of the book is available in the online resources. Students can test themselves with multiple-choice questions and web exercises, or explore the subject further via web and video links. Lecturers can download PowerPoint slides, answer guidance to the book’s review questions, and extended case studies.
Visit www.oup.com/uk/hamilton-webster4e/ to find out more.
about the authors
Leslie Hamilton is currently an associate member of staff at Leeds Beckett University (formerly Leeds Metropolitan University) and holds an MSc in Economics from the University of Hull. He has more than 30 years’ experience of teaching at both undergraduate and postgraduate levels, mostly in the areas of the International Business Environment and the European Union. At Leeds Business School, Les was responsible for developing and leading a large module on the Global Business Context. He has taught in France, Germany, Hong Kong, Russia, and Spain. Les worked for two years in the Netherlands researching the economic and social implications of EU policies towards the regions, and examining issues around migration. His other publications cover a variety of topics including the EU, international business, and the business environment.
Philip Webster is an associate member of staff at Leeds Beckett University (formerly Leeds Metropolitan University). He was formerly Director for Undergraduate Studies at Leeds Business School and Principal Lecturer in Business Strategy and International Business. He graduated from the University of Leeds with an MA in Economic Development, and worked in financial services and the computing industry before moving into education. Phil has over 30 years’ experience of teaching International Business Environment, Business Strategy and Business Ethics, and Corporate Social Responsibility. He has taught mainly in the UK, but also in India, Sabah, and Hong Kong. Phil has also worked and lived in Malaysia and Cambodia.
Contributors
Neil Barnett is a Senior Associate Professor in Public Policy at Leeds Beckett University, moving there from a career in local government and the NHS. He holds a Masters degree in Public Management from Aston University, and teaches at undergraduate and postgraduate level on a range of modules covering public management and global business environment. He has developed, taught on, and been course leader for a range of executive programmes for public sector managers. Neil has also published in a range of academic journals including Public Policy and Administration and Local Government Studies.
John Bratton is Visiting Professor at Edinburgh Napier University, Edinburgh, and Visiting Professor at Strathclyde University, Glasgow, UK. He holds a BSc in Economics from the University of Hull and a PhD in sociology of work from the University of Manchester. He has more than 30 years’ experience of teaching at both undergraduate and postgraduate levels in the UK and Canada. His research interests traverse the sociology of work, and he is author of Japanization at Work: Managerial Studies in the 1990s (1992) and co-author of New Technology and Employment (1981), Capitalism and Classical Social Theory (2014), now in its second edition, and author of Work and Organizational Behaviour (2015), now in its third edition.
Kirsteen Grant is Associate Professor of Human Resource Management at Edinburgh Napier University. Kirsteen draws on complementary backgrounds in organizational practice and academia. Her practitioner experience lies in supporting strategic organizational change, and people management and development in public sector organizations. She has worked extensively in the areas of professional development, engagement, leadership, learning, and talent development. Her research interests centre on professional, responsible, and precarious work; the (changing) nature and expectations of work; talent management; workplace skills utilization; and high-performance working. She is a Fellow of the Higher Education Academy and Chartered Fellow of the Chartered Institute of Personnel and Development.
Steven Gregory is a Senior Lecturer in Economics, Analytics and International Business at Leeds Beckett University. He is Course Leader for the university’s MSc in International Trade and Finance and also leads final year undergraduate modules on International Business and Multinational Enterprises. In addition to teaching, Steven is actively engaged in course and learning development, and was for many years also an Associate Lecturer with the Open University Business School. His research interests are in the political economy of international business and the impact of transnational corporations.
Dorron Otter studied PPE at the University of Oxford and then worked in a variety of different occupations including youth and community work, retailing, tourism, and finance. After undertaking teacher training at the University of York, he spent five years teaching Economics at Queen Mary’s College in Basingstoke. Dorron’s postgraduate studies took him to the University of Leeds, where he studied the political economy of global development and then became the first BP Fellow in Economic Awareness at the University of Durham. From 1991 to 2017, Dorron worked at Leeds Beckett University combining an active teaching profile with a range of senior management academic roles. He is the co-editor of Wetherly and Otter, The Business Environment: Themes and issues in a globalizing world, which is also published by Oxford University Press. Although retired from a full-time academic post, he remains active in academic consultancy and writing.
