IBM内部培训国际业务管理.ppt

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1、International Business Management,IIBD 0105Dr.Tang,Course Structure,Module I:Globalization&Information EconomyModule II:Country EvaluationModule III:Strategy&Entry ModeModule IV:Control&HRMModule V:Foreign Exchange&Multinational Financial ManagementModule VI:International Marketing&Operation,Module

2、I:Globalization&Information Economy,IIBD 0105Dr.Tang,Agenda,GlobalizationConcept&MeasurementDriving ForceTrade&Investment BarriersLiberalization with WTO&Regional GroupsResponseInformation EconomyInformation GoodsInformation Economy,Globalization,Globalization ofProduct:irrelevance of national produ

3、ctMarket world wide or international mobile customersConverging tasteMerger of national marketCompetitionglobal scale efficiencyMulti-market cross subsidizing As a result of international exchange of goods,service,capital&human resources,Globalization of Product,Product Life Cycle Model,Irrelevance

4、of the ModelTruncated Life CycleGlobalization of ProductR&DAdvanced ComponentsStandard ComponentsAssembly,Measurement,Trade&FDI as a%of GDPPrice convergence As a result of arbitrage,International Trade&FDI,Export As Percentage of GDP,Driving Force,Transportation&telecommunication technologyLiberaliz

5、ation movement to breakdown trade&investment barriers,Average Tariff Rate,Tariff,Ad valorem:%of valueSpecific:fixed sum per unitCompound:Ad Valorem+Specific,Can Protection Protect?,Effective protectionPrice elasticity of demand&supply,Effective Protection,t:tariff ratew:weight of imported components

6、k:the final goods,i:intermediate goods Country ACountry B TV10%20%TV components10%40%Effective Protection(T)(10-5)*2=10(20-20)*2=0,Price Elasticity,DemandSupplyElastic:PDP SInelastic:PD no changeP S no changePrice before tariffTariffPrice after tariff100010%1100 90910%1000,Non-Tariff Barrier,Quota(V

7、ER:voluntary export restraint)LicenseCustoms valuation,classification&procedureTechnical standardGovernment procurementAntidumping duty Countervailing duty(against subsidy),Investment Barrier,Entry barriers(e.g.finance,transportation)Ownership limitPerformance requirement(e.g.local content)Non-natio

8、nal treatment(e.g.factor price),WTO,Freer trade No discrimination(MFN&National Treatment)GATT(general agreement on tariffs&trade)GATS(general agreement on trade in services)TRIPS(trade related aspects of intellectual property rights)Quota(MFA phased out)Subsidy(prohibited&actionable)Safeguard(tempor

9、ary protection),Regional Integration,StagesFTA:Free Trade Area(low tariff for members)Custom Union(same tariff on non members)Common Market(factor mobility)Economic UnionPolitical Union,Regional Integration,What is Comparative Advantage?,Absolute Advantage:efficiencyExport a good if you can produce

10、more efficientlyComparative Advantage:cost Export a good if you can produce cheaperEfficient but not cheap:Because you have higher opportunity cost,RCA:Revealed Comparative Advantage,X export,M:import,i:country,W:world,k:product Comparison between:products,countries&Periods,Response to Globalization

11、,Journal of International Marketing,5-1,pp9-30,Strategy Drift,Strategic Management Journal 9 pp75-91,INFORMATION ECONOMY,INFORMATIONINFORMATION GOODSINFORMATION ECONOMY,Information,Anything with value that can be digitalized,Information Goods,Information embedded in text,number,graph,audio&video mat

12、erialsValuationPhysical Nature,The Nature of Information Goods,Valuation:Heterogeneity Experience goodsExclusivity vs.PopularityValue added in searching,The Valuation of Information Goods,demand curve:heterogeneousValueCustomersWhat should we do?,Customization&Price Discrimination,Value P Customers,

13、The Valuation of Information Goods,Experience GoodsValuation after Consumption(e.g.a film,MBA)What should we do?,Experience Goods,Brand NameFree Samples,The Valuation of Information Goods,Exclusivity higher value when it is scarcePopularity(Network Externality)Higher value when it is popularwhat sho

14、uld we do?,Network Externality,Value virtuous circle vicious circle Users,Exclusivity&Popularity,VersioningFree Distribution for a Critical Mass,Value Added in Searching,InternetPortal&LinksArchive,The Nature of Information Goods,Physical NatureIndestructible vs.PerishableNon-Depletable&Reproducible

15、Transmutable&Non-Fixation,The Physical Nature of Information Goods,IndestructibleLack of normal wear&tearShrinking market due to resale PerishableTime dependable What should we do?,Indestructible vs.Perishable,Planned ObsolescenceCustomizationReal time application,The Physical Nature of Information

16、Goods,Non-DepletableCan be shared ReproducibleNear zero marginal costWhat should we do?,The Physical Nature of Information Goods,TransmutableCan be easily altered Problem of authenticity&integrity Non-FixationAlways growing&no final cutWhat should we do?,Reproducible&Non-Fixation,Continuous Updating

17、Selling the connection instead of the information,Information Economy,An Economywith super connectivity(communication with near zero cost)where information goods become the center of economic activities,e-Commerce,Use of Internet to enhance communications&transactions with an organizations stakehold

18、ers(people who determine its future):,e-Business,A new business approach based on the possibilities provided by the interactive nature of the Internet,The Nature of Information Economy,Business Mode:Mass CustomizationImmediate&Ubiquitous Business Structure:Hollywood Effect,Immediate&Ubiquitous,Holly

19、wood Effect:Out Sourcing,Transaction cost vs.Economy of scaleTransaction cost:cost of information for search,negotiate&enforce a contractEconomy of scaleInternalize vs.ExternalizeHigh transaction cost:internalizeHigh economy of scale:externalize,Module IICountry Evaluation,IIBD 0105Dr.Tang,Agenda,Un

20、derstand SystemIdentify Opportunity MarketResourcesIdentify RiskEconomic RiskPolitical Risk Legal RiskCountry Selection Porters Diamond&Eclectic TheoryOpportunity Risk Grid&BERIAttractiveness&Competence Profile,Understand System,Economic:wealth(voluntary trade)Ownership,Movement&Creation of Resource

21、sPolitical:power(coercion)Articulate&Aggregate of Individual InterestMake,Implement&Adjudicate Public DecisionLegal:Reorganization&Enforcement of RulesCultural:Shared belief&practice in a group,Economic System,Planned economy vs.Market EconomyOwnership:State(SOE)vs.Private(Privatization)Allocation:C

22、ommand vs.PriceRationaleMarket failure:monopoly,friction,income distributionGovernment failure:information&incentiveAlienation vs.DependenceMixed economy,Political System,Constitutional democracyConstitution,Free Election&Freedom of speechLegislature,Executive,Judiciary Authoritarian Blind submissio

23、n to authority Totalitarian Subordinate all aspects of individual life,Political System:Critique,Public Choice:Politician as a vote maximizerShort term vs.long term interestCaptive Theorya few gain a lot at the expense of many loosing a little as individual Personal stake vs.information&organization

24、 cost,Dealing With Government,AuthorityBargaining StrengthAvailable ChoicePossible Response5C of NegotiationConflicted InterestCommon InterestCriteria(objective)Convincing(impossible to give away)Compromising,Legal System,Common Law Britain&former coloniesTradition,precedent,customDetailed contact C

25、ivil Law(Codified Roman Law)Continental Europe,Japan etc.Detailed codesShorter contractReligious Law Bureaucratic LawConsistency,predictability&appeal procedure?,Legal System,Public law:Constitution&Administrative law Commercial code(Uniformed Commercial Code)Business formationAgent,Corporate&Non-co

26、rporate Business ConductContract,Sales,Negotiable instrument,Secured transaction Regulations TaxationAccounting StandardDispute Settlement,Regulations,Protection of consumer Advertising,inspection&certification,labeling,safety,warranties,consumer credit Protection of property(Possess&transfer)Protec

27、tion of public investor:(information disclosure,inside trading)Protection of labor(compensation,leave,safety,social security,discrimination,labor relation)Protection of competition:antitrust Protection of environment,Differences in Legal Systems,Vulnerability of defective productsUSA vs.Britain:case

28、 law difference Public scrutiny USA vs.Britain:Statutory law differenceLegal expenses(plaintiff or defendant)USA vs.Britain:law administration difference,Taxation,Direct tax(income)CorporatePersonalIndirect taxVAT or Business taxExcise taxProperty taxStamp dutyTariff,International Taxation,Tax juris

29、diction(residential vs.territorial)Withholding tax(dividend,royalty interest)Double taxation&tax credit(35%=10%+25%)Transfer Pricing(vs.arms length:no relationship)Branch vs.Subsidiary(tax to home country),Foreign Tax Credit,Accounting Standard(IAS vs.GAAP),Revenue recognition(Critical path)Accrual

30、method&Front end loading(premature recognition)Inventory valuationFIFO,LIFO,HIFO Amortization&depreciation Straight line vs.Double decline balance:Length of estimated life Asset capitalization&Rear end loading:underestimate of current period expense:(WorldCom)Asset impairment&revaluation Off-balance

31、 sheet debt Unconsolidated debt of subsidiaries(Enron),Accounting Standard,Buckley,A.2000:Multinational Finance,Prentice Hall,p49,Dispute Settlement,Which countrys law appliesIn which country the issue be resolvedWhich technique:litigation,arbitration.How will the settlement be enforced,Cultural Sys

32、tem,Value&NormBelief of being good&right Reflected in&re-enforced by Behavior(pattern of response)&Ritual(formal&repetitive)Information&media of informationArtifacts(objects)Institute(stratification&mobility),Value&Norm,Virtue True(honest)Kind(golden rule)Beautiful(right proportion)4 Cardinal virtue

33、仁(ren)义(yi)礼(li)智(zhi),信(xin),Differences in Cultural Systems,Hofstede 5 orientationsPower orientation(distance)Uncertainty orientation Social orientation(individualism)Goal orientation(material possession)Time orientation(short term gain)Eastern vs.WesternPatience Vs.ActionHarmony Vs.FreedomHierarc

34、hy Vs.Equality,Market Potential,GDP p.c.The problems of Commercialization of economic activitiesIncome distributionMarket exchange rate,Market Potential,Trade Statistics(UN Trade Statistics Year Book)Market Index(Cross Border Monitor)ProxyComparable Segment,UN trade Statistics,Market Index,Cross Bor

35、der Monitor(Business International)EIU:40 indicatorsPop:population,upop:urban population;pc$:private consumptionKWH:electricity;stl:steel consumptioncem:cement productionTele:telephone in usecars in useTV in use,Proxy,Tire purchase=1.6 x Car registrationSatellite dish,imported car in street for othe

36、r luxury goodsRefrigerators=0.2 marriage+0.3 divorce+0.1 house start,Comparable Income Segment,PPP Exchange rate Big Mac Index1S$=25 Baht S$5000=125,000 Baht1 big Mac=1 big Mac5S$=50 Baht 1S$=10 BahtS$5000=50,000 Baht,Big Mac Index,PPP Exchange Rate,Resources,Availability,Cost,ReliabilityInfrastruct

37、ure,Human,Capital,Raw Materials,Intermediate Goods,Machinery&Equipment,Geographic proximity,Economic Risk,Internal BalanceRecession or inflationDemand misalignment or structural problemExternal BalanceBOP Balance(trade&capital)Exchange rate,Economic Risk,Foreign debt default Moratoriumdebt service r

38、atio(interest+principal due)/exports Foreign exchange riskInterest rate riskInflation risk,Internal&External Balance,Internal&External Balance,Political Risk,Change in leader or policiesCivil disorderAnimosity between host&other countriesSanction(restraint against commerce:technology,tariff,loan etc

39、.)Embargo(comprehensive sanction)Ownership riskOperation riskTransfer risk,Political Risk Perception,Ownership Risk,In 1960s to 1980s,Analysis Of Political Risk,Managing Political Risk,Integral part of the host countryIntensive use of local resourceContributionJoint ventureInsurance coverage,Legal R

40、isk,Uncertainty of law&law enforcementExtraterritoriality(outside boarders)Burma sanctionFCBAIncomparable legal requirementProperty right protectionProduct safety&liabilityEnvironment&workplace standard Corruption(Foreign Corrupt Business Act),Porters Diamond,Management IdeologyIndustrial Structure,

41、Supporting Industry(component&tool),Demand Condition(size&sophistication),Factor Condition(natural&advanced),Government,Chance,Eclectic Theory of Entry Mode,Ownership AdvantageCompetitive advantage over the rivalsLocation AdvantageWhy host countryInternalization AdvantageIn source or out source,Loca

42、tion Advantage,Low input cost Market R&D facilitiesLogistic AdministrationEconomic,political,legal&cultural system,Opportunity Risk Grid,CountryVariablesWeightA BCDAcceptable/UnacceptableAllow 100%ownershipUAAAOpportunity(H:preferable)Size of investment needed0-5-433Direct cost0-3-312Tax rate0-2-212

43、Market size(now)0-4-324Market size 3-10 years0-2-212Risk(H:Preferable)Loss making0-4-421Exchange rate0-3-023Political unrest0-3-312Total211319,BERI(Business Environment Risk Index),Criteriaweight Multiply 0-4OVERALLPolitical stability3Economic growth2.5Currency convertibility2.5Labor cost/productivi

44、ty2Short-term credit2Long-term credit2Attitude towards foreign investment1.5Nationalization1.5Monetary inflation1.5BOP1.5Enforceability of contract1.5Bureaucratic delays1Communications1Local Management1Provisional Service&Contractors 0.5TOTAL25Max=100,1=poor,2=average3=above average4=superior,80:fav

45、orable70-79:not so favorable55-69:immature with potential40-54:high risk40:very high risk,Country Attractiveness&Competitive Strength,Unilevers Global Profile,product,brand,region,country,Module III:Strategy&Entry Mode,IIBDDr.Tang,Agenda,PreliminaryGlobalization ImperativeSTEP EnvironmentTask Enviro

46、nment Competence ProfileStrategic Management ModelAnatomy of strategy Business Model&Business PlanStrategic choicesEntry Mode&PracticeExport vs.Local ProductionWhole Ownership vs.AllianceGreen Field vs.M&AEntry TacticsTake-over&Anti take-over TacticsAlliance Tactics,Globalization Imperatives,Growth

47、imperativeFirst mover advantageEfficiency imperativeScale&costKnowledge imperativeLeading edge customer,innovative competitor&supplier,R&D Globalization of customers:international&mobileGlobalization of product:irrelevance of national product Globalization of competition:multi market cross subsidizi

48、ng,Five Force Model,Five Source Model,Journal of General Management,21-1 pp1-23,Competitive Advantage,Market Value&Capital,Resource Analysis,Simplified Value Chain,augmentation,Competitive Triangle,Competitive Benchmarking,Competence Profile,Strategic Management Model,Environment ScanningExternalSoc

49、ietalTaskInternal StructureCultureResource,StrategyFormulation Missionreason forexistenceObjectivesresults to accomplishStrategiesplan,Strategy ImplementationPrograms activitiesBudgets resource allocationProcedures sequence of stepsPoliciesguideline,Evaluation&ControlMonitor&corrective action,Balanc

50、ed Scorecard for Planning,Balanced Scorecard for Planning,Du Ponts Mission,“To be the worlds most successful energy&chemistry based company,dedicated to creating high quality,innovative materials that make peoples lives better&easier”,Objectives,Measurable resultsSales Market shareProfitabilityTurno