Identifying three dominant paradigms in international business, this paper undertakes a review of their treatment of industrial relations issues with a view to providing the theoretical framework for a more fruitful dialogue between these two quintessentially inter-disciplinary fields of study>>ClickHere>>>>
Category: Academic Theory
A signpost to useful information on the academic theories and frameworks used in the international business and global strategy literature.
International Trade Theory
International trade theory provides explanations for the pattern of international trade and the distribution of the gains from trade>>ClickHere>>>
Fifty Years of International Business Theory and Beyond
This paper, examines the literature on international business (IB) over the last fifty years>>ClickHere>>>>
International Trade Theory and Policy: A Review of the Literature*
This paper provides a survey of the literature on trade theory, from the classical example of comparative advantage to the New Trade theories currently used by many advanced countries to direct industrial policy and trade>>ClickHere>>>
International Trade
On the topic of international trade, the views of economists tend to differ from those of the general public>>>ClickHere>>>
International business: theory and practice
International business: theory and practice>>ClickHere>>>
The development of international business theory
The article provides an overview about the development of internatio- nal business theory beginning with Hymer’s seminal contribution in 1960 and ending with a contribution by Engwall from 2006 that links institutionalization theory to the multinational firm>>ClickHere>>>>
Theory in international business
International business has existed as a distinct field of study for the past three decades, but it does not have a widely accepted explanatory theory on which to base its unique- ness as a discipline <<ClickHere>>>>
Functional Areas of Business
The activities needed to operate a business can be divided into a number of functional areas. Examples include: human resources, operations, marketing, accounting, finance and information technology. Let’s briefly explore each of these areas.
Human Resources
HR managers are responsible for ensuring that the organization has all of the skills and capabilities necessary to run the business. HR managers develop staffing plans, recruit and select new employees, monitor the performance management process, and develop succession plans for advancement and replacement. They develop standards for compensation and benefits and assist managers with staff issues.
Operations
All companies must convert resources (labour, materials, money, information, and so forth) into goods or services. Some companies, such as Apple, convert resources into tangible products—Macs, iPhones, etc. Others, such as hospitals, convert resources into intangible products — e.g., health care. The person who designs and oversees the transformation of resources into goods or services is called an operations manager. This individual is also responsible for ensuring that products are of high quality. In many organizations, operations management includes managing the supply chain which controls the delivery of raw materials and the distribution of finished goods.
Marketing
Marketing consists of everything that a company does to identify customers’ needs (i.e. market research) and design products to meet those needs. Marketers develop the benefits and features of products, including price and quality. They also decide on the best method of delivering products and the best means of promoting them to attract and keep customers. They manage relationships with customers and make them aware of the organization’s desire and ability to satisfy their needs.
Accounting
Managers need accurate, relevant and timely financial information, which is provided by accountants. Accountants measure, summarize, and communicate financial and managerial information and advise other managers on financial matters. There are two fields of accounting. Financial accountants prepare financial statements to help users, both inside and outside the organization, assess the financial strength of the company. Managerial accountants prepare information, such as reports on the cost of materials used in the production process, for internal use only.
Finance
Finance involves planning for, obtaining, and managing a company’s funds. Financial managers address such questions as the following: How much money does the company need? How and where will it get the necessary money? How and when will it pay the money back? What investments should be made in plant and equipment? How much should be spent on research and development? Good financial management is particularly important when a company is first formed because new business owners usually need to borrow money to get started.
Information Technology
Information is one of the critical assets of most businesses. Businesses such as Facebook are entirely information based businesses. Information technology (IT) managers are concerned with building computer and network infrastructure, implementing security protocols, and developing user interfaces and apps for customers. Usually, there is a high level of integration between the businesses website or application and other departments within the business, such as finance, marketing and operations. Often, businesses must develop interfaces to send and receive information from other companies, including suppliers, logistics and shipping suppliers.
The Globalization of Business
Do you wear Nike shoes or Timberland boots? Listen to Beyoncé, Pitbull, Twenty One Pilots, or The Neighborhood on Spotify? If you answered yes to either of these questions, you’re a global business customer.>>ClickHere>>>