希尔《国际商务》课后习题参考答案英文版
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国际商务英语课文翻译国际商务英语教程第三版课后答案导读:就爱阅读网友为您分享以下“国际商务英语教程第三版课后答案”资讯,希望对您有所帮助,感谢您对 的支持!Lesson 2II1. In recent years, as the country’s vigorous economic development has facilitated its foreign trade, its total export and import value between 193 and 2003 increased by 20%, as compared with only 7.5% between 1982 and 1992.2. The greatly improved communications and transportation resulting from technological progress have speeded up the movements of merchandise, personnel and information between different countries and lowered operating costs, thus bringing about the rapid growth of internationalbusiness.3. Today fewer restrictions on the cross-border movements of merchandise and services imposed by governments of all countries enable these countries’residents to have access to goods and services at lower prices and make it possible for domestic enterprises to raise efficiency because of foreign competition.4. In order to support and facilitate international business, companies and governments have developed relevant services such as the establishment of bank credit agreements, the conclusion of clearing arrangements and the enactment of the international postal agreement, thus ensuring the successful handling and growth of international business.5. Under the pressure of increased foreign competition, in order to maintain competitiveness and seek survival and development, companies have to extend their operations to international markets, respond to foreign sales opportunities and vigorously increase their international business.Lesson 3I.1. Large increase in industrial and agricultural production in manycountries and regions2. Lead to industrial countries’rapidly rising demand for food and rawmaterials3. The import volume of industrial products that has increased 15 times4. A drastically/sharply increased demand for agricultural exports fromdeveloping countries5. A decrease in the demand for natural raw materials such as cotton andnatural rubber.6. The development of the production of synthetic substitutes and anincrease in their output.7. Contribute to the industrial development and economic growth ofdeveloping countries8. The important beneficial effects that international trade has on theeconomic development of all countries9. be conducive to the development of less developedcountries’manufacturing and production of manufactured goods.10 stimulate and facilitate the international flow of capital betweendeveloped and developing nations11. The vehicle for the transmission of new technology and newmanagerial skill12. The less developed countries that have reaped major benefits frominternational trade.13. The relationship between international trade and long-run economicdevelopment14. Absorb advanced technology from developed nations at a faster rate. II.1. The emergence and development of international trade has promotedthe normal operation and constant expansion of all countries’process of reproduction, raise their levels of productive forces, contributed to the internationalization of production and capital and brought about the economicdevelopment in other fields.2. Focusing on the effects of exports on employment and income,Keynes and his followers hold that a trade surplus can expand means of payment, lower interest rates and spur a price increase and investment, thus contributing to the alleviation of a country’s domestic crisis and an increase in employment.3. Some other economists believe that the emergence and developmentof international trade can expand commodity markets, promote technological progress and an improvement in the process of production, spur an increase in output and contribute to a change in the structure of investment, thus leading to the development of the entire national economy. 4. The development of foreign trade achieved by developing countriesbrings about an increase in foreign exchange earnings and the introduction/ importation of advanced/ up-to-date foreign technology, which plays an important role in making good these countries’shortage of capital and promoting their technological progress.5. In the past years, along with absorbing foreign capital, China hasspared no effort to develop its foreign trade, imported large quantities of precision machinery and equipment and sophisticated technology, exported various kinds of industrial and agricultural products, thus greatly contributing to economic development and the achievement of socialist modernization.Lesson 4 II1.Nontariff trade barriers,which refer to the protectionist measurescharacterized by quantitative import restrictions,are used by developed countries and some developing countries to interfere with and impede the free flow of merchandise and services be.tween nations.2.Since the mid.1970s,as a result of the outbreak of the global economiccrises,accompanied by the intensification of contention for international markets, the developed countries have been forced to resort to nontariff trade barriers designed to restrict imports, in an attempt to overcome their difficulties.3.Like tariff trade barriers,nontariff trade barriers have the effects ofrestricting imports and bringing about price increases in the domestic market of an importing country,thus imposing a heavy burden on the people of Western developed countries. 4.In recent years, some trade policies and regulations carried out by theUnited States have discriminated against China and imposed severe restrictions on some of its exports to the United States.5.It is likely that in the future the United States and other Westerncountries will still impose restrictions 011 the exports of China’s textiles and other labor—intensive products,to which China will strongly(decidedly)0biect.Lesson 5II1. In order to move efficiently the goods to importing country, the export firm must perform three essential functions involving a series of activities in the export transaction.2. Before an export transaction is carried out, the exportermust either conduct a check on the new customer’s financial and credit standing through an international credit report or revise the old customer’s credit standing and payment record.3. As an important component of the export process, the exporter and importer negotiate the sales terms and conditions, the obligations of both parties, and other terms of the sales contract.4. An agreement that the exporter and importer have entered into on sales terms and conditions becomes a binding contract, which is a firm commitment that is acceptable to both buyer and seller after it is confirmed by both parties in writing.5. In the whole export process, the importer is often required to obtain an import license and sometimes also a foreign exchange permit in order that the goods conform to the importing country’s import regulations and smoothly reach the importer.Lesson 6II1.A sales channel in international trade refers to the process ofcirculation in which goods flow from a country’s producer to the foreign ultimate customer or user and to the intermediary commercial establishments through which title to goods is transferred.2. In the process of international commodity circulation,whether a saleschannel is unimpeded and highly efficient or not directly affects the turnover rate,profit and market share of goods.3.Acting as the export sales department for many manufacturers,anexport management company either purchases goods directly from manufacturers and then resells them overseas for its Own account Or operates on a commission basis.4.Acting as an independent sales agent on a case-by-case basis, an exporttrading agent on a case-by-company performs a sourcing or wholesale function between buyer and seller without assuming any responsibility to either party in a transaction.5.Local distributors in the host country are used by many manufacturersas a sales channel to facilitate foreign sales,since they are familiar with the host country’s market situation and its social and economic environments and are able to carry out the best market strategy and manage after-sale customer service.Lesson 7 II1. Trade terms are used to specify the structure of export prices and thedivision of responsibility and liability between the seller and the buyer with regard to procedures, cost and risks that are involved in delivering goods to the buyer by the seller.2. Under the CIF term, the seller must also provide a complete set ofshipping documents including transportation and insurance documents at his own expense.3. If we conclude business with you on CFR basis, how much can youreduce from your CIF price so that we can make a comparison (…so that we can compa re them)4. Will you please make us an offer for Forever Brand Bicycles 26”?Please quote your lowest CIF New York price based on a minimum order of 10,000 units.5. We can make the following offer:Article: HL 302 Drawer LockPrice: at U.S. $5 per piece EXW Shanghai Annual minimum order: 100,000 pieces Packing: in cartons Payment: by irrevocable L/C available by sight draft Delivery: 60 days after receipt of L/CRevision 1IV.1. In 1980, the average annual growth rate of low income developing countries’GDP was 5.9 percent, as compared with 3.5 percent of middle-income countries and 1.4 percent for industrialized countries.11。
国际商务课后习题参考答案HUA system office room 【HUA16H-TTMS2A-HUAS8Q8-HUAH1688】C h a p t e r1:G l o b a l i z a t i o n1. Describe the shifts in the world economy over the last 30 years. What are the implications of these shifts for international businesses based in Great Britain? North America? Hong Kong?Answer: The world economy has shifted dramatically over the past 30 years. As late as the 1960s, four stylized facts described the demographics of the global economy. The first was U.S. dominance in the world economy and world trade. The second was U.S. dominance in the world foreign direct investment picture. Related to this, the third fact was the dominance of large, multinational U.S. firms in the international business scene. The fourth was that roughly half of the globe - the centrally planned economies of the Communist world - was off-limits to Western international businesses. All of these demographic facts have changed. Although the U.S. remains the world's dominant economic power, its share of world output and world exports have declined significantly since the 1960s. This trend does not reflect trouble in the U.S. economy, but rather reflects the growing industrialization of developing countries such as China, India, Indonesia, and South Korea. This trend is also reflected in the world foreign direct investment picture. As depicted in Figure 1.2 in the textbook, the share of world output (or the stock of foreign direct investment) generated by developing countries has been on a steady increase since the 1960s, while the share of world outputgenerated by rich industrial countries has been on a steady decline. Shifts in the world economy can also be seen through the shifting power of multinational enterprises. Since the 1960s, there have been two notable trends in the demographics of the multinational enterprise. The first has been the rise of non-U.S. multinationals, particularly Japanese multinationals. The second has been the emergence of a growing number of small and medium-sized multinationals, called mini-multinationals. The fall of Communism in Eastern Europe and the republics of the former Soviet Union have brought about the final shift in the world economy. Many of the former Communist nations of Europe and Asia seem to share a commitment to democratic politics and free market economies. Similar developments are being observed in Latin America. If these trends continue, the opportunities for international business may be enormous. The implications of these shifts are similar for North America and Britain. The United States and Britain once had the luxury of being the dominant players in the world arena, with little substantive competition from the developing nations of the world. That has changed. Today, U.S. and British manufacturers must compete with competitors from across the world to win orders. The changing demographics of the world economy favor a city like Hong Kong. Hong Kong (which is now under Chinese rule) is well located with easy access to markets in Japan, South Korea, Indonesia, and other Asian markets. Hong Kong has a vibrant labor force that can compete on par with the industrialized nations of the world. The declinein the influence of the U.S. and Britain on the global economy provides opportunities for companies in Hong Kong to aggressively pursue export markets.2. "The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in smaller firms." Evaluate this statement.Answer: People who believe in this view, and the firms that they work for, may find that they do not achieve their full potential (at best) and may ultimately fail because of their myopia. As barriers to trade decrease and state of the art technological developments take place throughout the world, new opportunities and threats exist on a worldwide basis. The rise of the mini-multinationals suggests there are global opportunities even for small firms. But staying attuned to international markets is not only important from the perspective of seeking profitable opportunities for small firms; it can also be critical for long-term competitive survival. Firms from other countries may be developing products that, if sold internationally, may wipe out small domestic competitors. Scanning international markets for the best suppliers is also important for small firms, for if a domestic competitor is able to tap into a superior supplier from a foreign country, it may be able to seriously erode a small firm's competitive position before the small firm understands the source of its competitor's competitive advantage and can take appropriate counter actions.3. How have changes in technology contributed to the globalization of markets and of production? Would the globalization of production and markets have been possible without these technological changes?Answer: Changes in technology have contributed to the globalization of markets and of production in a very substantive manner. For instance, improvements in transportation technology have paved the way for companies like Coca-Cola, Levi Strauss, Sony and McDonalds to make their products available worldwide. Similarly, improvements in communications technology have had a major impact. The ability to negotiate across continents has been facilitated by improved communications technology, and the rapidly decreasing cost of communications has lowered the expense of coordinating and controlling a global corporation. Finally, the impact of information technology has been far reaching. Companies can now gain worldwide exposure simply by setting up a homepage on the Internet. This technology was not available just a few short years ago. The globalization of production and markets may have been possible without improvements in technology, but the pace of globalization would have been much slower. The falling cost of technology has made it affordable for many developing nations, which has been instrumental in helping these nations improve their share of world output and world exports. The inclusion of these nations, such as China, India, Thailand, and South Korea, has been instrumental in the globalization of markets and production. In addition, improvements in global transportationand communication have made it relatively easy for business executives from different countries to converse with one another. If these forms of technology, including air-travel, fax capability, e-mail, and overnight delivery of packages were not available, it would be much more difficult for businesses to conduct international trade.4. "Ultimately, the study of international business is no different from the study of domestic business. Thus, there is no point in having a separate course on international business." Evaluate this statement.Answer: This statement reflects a poor understanding of the unique challenges involved in international business. Managing an international business is different from managing a purely domestic business for at least four reasons. These are: (1) countries are different; (2) the range of problems confronted by a manager in an international business is wider and the problems themselves more complex than those confronted by a manager in a domestic business; (3) an international business must find ways to work within the limits imposed by government intervention in the international trade and investment system; and (4) international transactions involve converting money into different currencies. As a result of these differences, there are ample reasons for studying international business as a specific field of study or discipline.5. How might the Internet and the associated World Wide Web impactinternational business activity and the globalization of the world economy? Answer: According to the text, the Internet and World Wide Web (WWW) promise to develop into the information background of tomorrow's global economy. This improved technology will not only make it easier for individuals and companies in different countries to conduct business with one another, but will also further decrease the cost of communications. These improvements will undoubtedly hasten the already rapid pace of globalization. Another distinct attribute of the Internet and the WWW is that they act as an equalizer between large (resource rich) and small (resource poor) firms. For instance, it does not cost any more for a small software firm to gain visibility via the WWW than it does for a large software company like Microsoft. As a result, the WWW helps small companies reach the size of audience that was previously only within the reach of large, resource rich firms.6. If current trends continue, China may emerge as the world's largest economy by 2020. Discuss the possible implications of such a development for(1) The world trading system.(2)The world monetary system.(3)The business strategy of today's European and U.S. based global corporations.(4)Global commodity prices.Answer: The world trading system would clearly be affected by such a development. Currently China enjoys a somewhat privileged status within theWorld Trade Organization as a “developing” country. Such a rise to eminence, however, would clearly force it to become a full and equal member, with all the rights and responsibilities. China would also be in a position to actively affect the terms of trade between many countries. On the monetary front, one would expect that China would have to have fully convertible and trading currency, and it could become one of the “benchmark” currencies of the world. From the perspective of Western global firms, China would represent both a huge market, and potentially the home base of some very capable competitors. Finally, commodity prices would probably fall.7. Read the Country Focus in this chapter on the Ecuadorian rose industry, the answer the following questions:a) How has participation in the international rose trade helped Ecuador’s economy and its people? How has the rise of Ecuador as a center for rose growing benefited consumers in developed nations who purchase the roses? What do the answers to these questions tell you about the benefits of international trade?b) Why do you think that Ecuador’s rose ind ustry only began to take of 20 years ago? Why do you think it has grown so rapidly?c) To what extent can the alleged health problems among workers in Ecuador’s rose industry be laid at the feet of consumers in the developed world and their desire for perfect Valentine’s Day roses?d) Do you think governments in the developed world should place trade sanctions on Ecuador roses if reports of health issues among Ecuadorian rose workers are verified? What else might they do to improve the situation in Ecuador?a) Ecuador is the world’s fourth largest producer of roses. In fact, roses represent the country’s fifth largest export. The industry is vital to Ecuador’s economy, creating tens of thousands of jobs, jobs that pay significantly above the country’s minimum wage. Taxes and revenues from the rose growers have also helped to pave roads, build schools, and construct sophisticated irrigation systems. For Ecuador’s consumers, the success of the industry means bigger, more vibrant flowers than were previously available. Most students will recognize that the conditions in Ecuador give the country a distinct advantage in rose growing, and that by focusing on the industry, Ecuador has been able to benefit from international trade. Consumers in other countr ies also benefit from Ecuador’s flower exports with better products.b) Ecuador’s rose industry began some 20 years ago, and has been expanding rapidly ever since then. Most students will probably focus advances in technology as a key to the industry’s s uccess. Roses are a very fragile, perishable product. Modern technology enables growers to used refrigerated air transport to get the product to markets around the globe. Without that ability, the growers would be limited to the market immediately surroundingthe country.c) Students will probably be divided on this issue with some students arguing that consumers are to blame for the problems, and others placing the blame on the growers. Students taking the first perspective will probably suggest that most consumers purchase their roses with little consideration for how they are grown. Rather, most consumers simply focus on their beauty and price. Students blaming the growers might argue that growers, because they feel the effect of less-than-perfect roses in the form of smaller profits, will be motivated to find ways to produce ever more perfect flowers. Certainly, the use of pesticides and other products can produce a better crop. In the end, there is probably blame on both sides. If more consumers were aware of the health problems resulting from the improper use of pesticides, they would probably demand some changes. Similarly, if pressure were put on the growers to use pesticides safely, health problems could be reduced.d) Trade sanctions are a tool that is often employed by governments that are making a statement against a specific action or actions. In the case of Ecuador, trade sanctions certainly would be an option, as would publicizing the situation so that more consumers were aware of the conditions. In the end though, it is important to consider the effect of the sanctions or other measures on people like Maria who might lose their livelihood as a result. Chapter 2: National Differences1. Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth! Discuss.Answer: In a market economy, private individuals and corporations are allowed to own property and other assets. This right of ownership provides a powerful incentive for people to work hard, introduce new products, develop better advertising campaigns, invent new products, etc., all in the hopes of accumulating additional personal capital and wealth. In turn, the constant search on the part of individuals and corporation to accumulate wealth enriches the entire economy and creates economic growth. In contrast, in a command economy, private individuals and corporations are not allowed to own substantial quantities of property and other assets. The objective of a command economy is for e veryone to work for “the good of the society.” Although this sounds like a noble ideal, a system that asks individuals to work for the good of society rather than allowing individuals to build personal wealth does not provide a great incentive for people to invent new products, develop better advertising campaigns, find ways to be more efficient, etc. As a result, command economies typically generate less innovation and are less efficient than market economies.2. A democratic political system is an essential condition for sustained economic progress. Discuss.Answer: This question has no clear-cut answer. In the West, we tend to arguethat democracy is good for economic progress. This argument is largely predicted upon the idea that innovation is the engine of economic growth, and a democratic political system encourages rather than stifles innovation. However, there are examples of totalitarian regimes that have fostered a market economy and strong property rights protection and experienced rapid economic growth. The examples include four of the fastest growing economies of the past 30 years – South Korea, Taiwan, Singapore, and Hong Kong – all of which have grown faster than Western economies. However, while it is possible to argue that democracy is not a necessary precondition for the establishment of a free market economy, it seems evident that subsequent economic growth leads to establishment of democratic regimes. Several of the fastest-growing Asian economies have recently adopted more democratic governments.3. What is the relationship between corruption (i.e., bribe taking by government officials) in a country and economic growth? Is corruption always bad?Answer: Economic evidence suggests that high levels of corruption significantly reduce the economic growth rate in a country. By siphoning off profits, corrupt politicians and bureaucrats reduce the returns to business investment, and hence, reduce the incentive that both domestic and foreign businesses have to invest in that country. The lower level of investment that results has a negative impact on economic growth. However, while most studentswill probably agree that corruption is bad, some may point out that the U.S., despite its Foreign Corrupt Practices Act, does allow “grease payments” to expedite or secure the performance of a routine governmental action. According to Congress, “grease payments” while technically bribes are not being used to obtain or maintain business, but rather are simply made to facilitate performance of duties that the recipients are already obligated to perform. 4. The Nobel prize-winning economist Amartya Sen argues that the concept of development should be broadened to include more than just economic development. What other factors does Sen think should be included in an assessment of development? How might adop tion of Sen’s views influence government policy? Do you think Sen is correct that development is about more than just economic development? Explain.Answer: Sen has argued that development be assessed less by material output measures such as GNP per capita, and more by the capabilities and opportunities that people enjoy. Sen suggests that development be seen as a process of expanding real freedoms that people experience, and as such, that development requires the removal of major impediments to freedom. Governments influenced by Sen might ensure that basic health care and education programs are available especially for women. Many students will agree with Sen and the notion that development is not just an economic process, but a political one too, and that to succeed citizens must be given a voice in the important decisions made for the country.5. You are the CEO of a company that has to choose between making a $100 million investment in either Russia or the Czech Republic. Both investments promise the same long-run return, so your choice of which investment to make is driven by considerations of risk. Assess the various risks of doing business in each of these nations. Which investment would you favor and why? Answer: When assessing the risks of investment, one should consider the political, economic, and legal risks of doing business in either Russia or the Czech Republic. At this time (Fall 2002), the risk in Russia would probably be considered higher than the risk in the Czech Republic. The Czech Republic has just been accepted as a future member of the EU, and as such gains the benefits and stability offered by the EU. Russia, by contrast, is still many years away from even being in a position to be considered by the EU for membership. Depending upon when you are using the book, this situation could be different. (You also may want to substitute other countries into this question depending on current events and the countries with which you feel your students will be most familiar.)6. Read the Country Focus on India in this chapter and answer the following questions:a. What kind of economic system did India operate during 1947-1990? What kind of system is it moving towards today? What are the impediments to completing this transformation?b. How might widespread public ownership of businesses and extensive government regulations have impacted (i) the efficiency of state and private businesses, and (ii) the rate of new business formation in India during the 1947-1990 time frame? How do you think these factors affected the rate of economic growth in India during this time frame?c. How would privatization, deregulation, and the removal of barriers to foreign direct investment affect the efficiency of business, new business formation, and the rate of economic growth in India during the post-1990 time period?d. India now has pockets of strengths in key high technology industries such as software and pharmaceuticals. Why do you think India is developing strength in these areas? How might success in these industries help to generate growth in other sectors of the Indian economy?e. Given what is now occurring in the Indian economy, do you think that the country represents an attractive target for inward investment by foreign multinationals selling consumer products? Why?Answer:a. The economic system that developed in India after 1947 was a mixed economy characterized by a large number of state-owned enterprises, centralized planning, and subsidies. In 1991, India’s government embarked on anambitious economic reform program. Much of the industrial licensing system was dismantled, and several areas once closed to the private sector were opened. In addition, investment by foreign companies was welcomed, and plans to start privatizing state-owned businesses were announced. India has posted impressive gains since 1991, however there are still impediments to further transformation. Attempts to reduce import tariffs have been stalled by political opposition from employers, employees, and politicians. Moreover, the privatization program has been slowed thanks to actions taken by the Supreme Court. Finally, extreme poverty continues to plague the country.b. The mixed economy that developed in India after 1947 was characterized by a large number of state-owned enterprises, centralized planning, and subsidies. This system not only constrained the growth of the private sector, but it also consequently limited the effects of competition that typically promote efficiency and productivity in a free market system. The system even limited the actions of private companies, requiring them to get government approval for routine business activities. Production quotas and high import tariffs also stunted the development of a healthy private sector, as did restrictive labor laws that made it difficult to fire employees. Foreign exchange restrictions, limitations on foreign investment, controls on land use, and managed prices further exacerbated the situation. It would appear that India’s rate of economic growth was negatively affected during this time frame. By 1994, India’s economy was still smaller than Belgium’sdespite having a large population. Both GDP and literacy rates were very low, and some 40 percent of the population lived in poverty.c. In 1991, India’s government embarked on an ambitious economic reform program. So far, the response to the program has been impressive. The economy expanded at an annual rate of about 6.3 percent from 1994 to 2004. Foreign investment is up from $150 million in 1990 to $6 billion in 2005. Certain sectors of the economy including information technology and pharmaceuticals have done particularly well. Still, problems persist. Actions taken by the government continue to limit efficiency gains for private companies and the country’s high rate of poverty is still a major problem.d. India’s gains in information technology and pharmaceuticals are impressive. The country has emerged as a vibrant global center for software development, and India’s pharmaceutical companies have taken a strong global position by selling low cost generic versions of drugs that have come of patent in the developed world. As these industries continue to prosper, other sectors of the economy should also see the benefit of spillover effects.e. Foreign investment is up in India. In fact, foreign investment rose from $150 million in 1990 to $6 billion in 2005. However, whether India is an attractive destination for foreign multinationals selling consumer products remains to be seen. Certainly, the large population will serve to attractsome companies, but the fact that some 40 percent of the population is living in abject poverty will scare other companies away. Moreover, it is still not easy to run a company in India thanks to laws limiting everything from who can be fired to who can which products.Chapter 3: Differences in Culture1. Outline why the culture of a country influences the costs of doing business in that country. Illustrate your answer with examples.Answer: Since in a sense the entire chapter is about this question, there can be numerous reasons and examples of how culture influences the costs of doing business. Several are highlighted in the following sentences, but there could be numerous others. When there are simply different norms between how individuals from different countries interact, the costs of doing business rise as people grapple with unfamiliar ways of doing business. For example, while in the US we may get down to business first, and then get to know each other socially later, in many South American countries it is important develop a good social relationship before trying to discuss business issues. Different class structures and social mobility also raise the costs of doing business, for if there are inhibitions against working with people from different classes, then the efficiency with which information can flow may be limited and the cost of running a business increased. A country's religion can also affect the costs of business, as religious values can affectattitudes towards work, entrepreneurship, honesty, fairness, and social responsibility. In Hindu societies where the pursuit of material well-being can be viewed as making spiritual well being less likely, worker productivity may be lower than in nations with other religious beliefs. Finally, a country's education system can have important implications for the costs of business. In countries where workers receive excellent training and are highly literate, the need for specific worker training programs are decreased and the hiring of additional employees is facilitated.2. Do you think business practices in an Islamic country are likely to differ from business practices in the United States? If so, how?Answer: A number of aspects of the cultural differences between an Islamic country and the USA will cause business practices to differ. The role women can take, appropriate etiquette (including simple things like not passing papers with the left hand), holidays, and wining and dining all differ from in the USA. But beyond these, the underlying philosophy and role of business differs from in the USA. Since Muslims are stewards of property for God, rather than owners, they are more likely to use their resources carefully and may be less likely to give up or sell something to a person who may not practice the same stewardship. The importance of fairness to all parties in relations means that over-aggressiveness in self-interest may not be well received, and breaking an agreement, even if technically/legally permissible may be viewed as very inappropriate. Finally, the prohibitions on interestpayments in some Islamic countries means that the wording of the terms of an agreement must be done carefully so that "fair profits" are not construed as being "interest payments."3. What are the implications for international business of differences in the dominant religion of a country?Answer: Differences in the dominant religion of a country affect relationships, attitudes toward business, and overall economic development. Firstly, differences in religion require inter-cultural sensitivity. This sensitivity requires things like simply knowing the religious holidays, accepting that some unexpected things may happen "because of Allah's will," or understanding how interpersonal relationships may be different between "believers" and "non-believers." (Hence non-believers may be treated differently.) Secondly, religious beliefs can significantly affect a countries attitude toward business, work, and entrepreneurship. In one country successfully beating a competitor may be considered a great achievement while in another it may be thought of as showing a lack of compassion and disruptive to the society and persons involved, both attitudes that may be derived from underlying religious beliefs. Likewise, hard work may be either rewarded positively or viewed as something of secondary importance to spiritual peace and harmony. Thirdly, different dominant religions may affect the overall competitiveness and potential for economic growth of a nation, and hence attractiveness of a country for international business.。
第18章全球人力资源管理1.以一国为中心、以多国为中心和以全球为中心的人员配备政策各有哪些主要优缺点?它们各在何时适用?What are the main advantages and disadvantages of the ethnocentric, polycentric,and geocentric approaches to staffing policy?When is each approach appropriate?答:(1)以一国为中心的人员配备政策是指所有关键的管理职位都是由母国的人员担任。
它的优势有:①克服东道国缺少称职的管理者的不足;②统一的文化;③有助于转移核心竞争力。
它的劣势有:①在东道国产生不满;②导致文化短视。
以一国为中心的人员配备政策适用于国际战略。
(2)以多国为中心的人员配备政策要求在母国人员占据了公司总部的关键职位的同时,子公司管理层由东道国人员担任。
它的优势有:①避免文化短视;②实施成本低。
它的劣势有:①限制职业流动性;②隔离总部与国外子公司。
以多国为中心的人员配备政策适用于本土化战略。
(3)以全球为中心的人员配备政策在整个组织内不考虑国籍因素为关键岗位寻找最佳人选。
这种政策有许多优点:①有效利用人力资源;②有助于建立浓厚的企业文化和非正式的管理网络。
但也有不足:①国家移民政策可能会限制该政策的实施;②成本高。
以全球为中心的人员配备政策适用于全球标准化战略和跨国战略。
2.研究显示,许多外派人员遇到了既会影响他们在国外任职的有效性,也会限制在他们回国时对公司贡献的问题。
造成这些问题的主要原因是什么?后果如何?企业如何减少这类问题的发生?Research suggests that many expatriate employees encounter problems that limit both their effectiveness in a foreign posting and their contribution to the company when they return home.What are the main causes and consequences of these problems,and how might a firm reduce the occurrence of such problems?答:(1)配偶难以适应、经理人员本人难以适应新环境、其他家庭问题、经理人员私人和情感的成熟度和难以担当起国外重任是外派失败率持续走高的主要原因。
希尔国际商务课后答案【篇一:国际商务管理期末考试答案】p class=txt>一、单选题(题数:50,共 50.0 分)1根据以往的判例和先例来判决,是下列()法系的特点?1.0 分 a、大陆法系b、宗教法c、欧美法d、普通法我的答案:d2跨国公司为了加强某地的投资,而往往必须放弃另外其他地区投资的撤资策略是()。
1.0 分a、主动撤资b、进攻性撤资c、有计划地撤资d、被动撤资我的答案:b3计划经济条件下,中国贸易形式属于()。
1.0 分a、自由贸易b、垄断贸易c、统制贸易d、区域贸易我的答案:c4制定企业的战略目标既要具有可行性,又要考虑到它的先进性,这是指战略目标制定的()。
1.0 分a、关键性b、一致性c、激励性d、稳定性我的答案:c5下列不属于政治风险的是()。
0.0 分a、本国化b、国有化c、当地化d、有偿征用我的答案:d6当前我国外汇储备中最主要的是()。
1.0 分a、欧元b、日元c、黄金d、美元我的答案:d7根据要素禀赋论,下列不适宜发展资本密集型产业的国家是()。
1.0 分a、美国日本c、澳大利亚d、朝鲜我的答案:d8差异化战略的核心是取得某种对顾客有价值的()。
1.0 分a、可靠性b、信誉性c、实用性d、独特性我的答案:d9按照一般跨国公司组织形式发展的第三阶段是()。
1.0 分a、销售部b、出口部c、国际部d、全球结构我的答案:c10下列要素中,不属于国家竞争优势钻石模型中基本要素的是()。
1.0 分a、自然地理环境b、人口c、通讯基础气候我的答案:c11出口补贴作为一种鼓励出口的措施就是在出口某种商品时给予出口商()优惠待遇。
1.0 分a、仅在退还进口税上b、仅在财政上c、仅在现金补贴上d、在现金补贴或财政上我的答案:d12全球化发展的物质基础是()。
1.0 分a、跨国公司的经营成果b、新技术革命提供的成果c、全球性的非管制化和市场化政策d、国际金融市场的深化与创新我的答案:b13重商主义理论盛行于()。
第5章国际商务伦理1.一位来访的美国某公司经理发现,该公司设在一个贫穷国家的分公司雇用了一名12岁的女孩在工厂上班,这是违反该公司禁止使用童工的有关规定的。
他要求当地的经理辞掉这个孩子,并叫这个女孩回学校上课。
当地经理告诉这位美国经理,这个孩子是个孤儿,没有生活来源,如果她失去这份工作,有可能流落街头。
请问这位美国经理应该如何处理?答:该例子揭示了在外国子公司工作真实的伦理困境。
美国经理应当认识到无论是违反该公司禁止使用童工的规定还是让这个女孩流落街头,都是不可接受的。
美国经理也应当意识到,公司在享有一定权力的同时还应当承担一定的社会责任。
从本质上讲,对社会负责就是对自己负责,因为这是经商的正确道路。
成功的大企业应将诚实尽责、乐善好施视为自己的责任。
因此,这位美国经理最好的做法就是为女孩提供一些慈善帮助,捐赠、送往孤儿院、找人领养或者是教会她一些技能足以自己谋生,这样解除了伦理困境,既不违反社会法律,又不违反伦理道德。
2.以约翰·罗尔斯提出的“无知之幕”这一概念为框架,制定一个道德公约,它将(1)为一家大型石油公司制定有关环境保护的决策提供指导;(2)为一家制衣公司寻找外部加工点的相关政策提供指导。
答:根据约翰·罗尔斯的理论,有效的公正原则就是指在所有人都能自由的、完全无私的情况下所一致赞同的原则。
“完全无私”只有在一种被罗尔斯称为“无知之幕”的概念中才能存在。
在这种“无知之幕”下,每个人被设想为对他的所有特性是不知晓的,在这种情况下,人们会毫无异议地赞同以下两个基本的公正原则:第一个原则就是最大限度地保证每个人都能同样享有其他人所享有的自由。
罗尔斯将这些权利概括为政治自由(如投票权),言论和集会自由,意识形态的自由,以及自由处置私人财产的权利和不受专制镇压的权利。
第二个原则是指在平等的基本自由被保证的前提下,才允许一些基础的社会产物,如收入和财富分配、机会等的不平等得以存在,而这种不平等必须是对每一个人都有利的。
希尔《国际商务》(第九版)课后习题详解-国际直接投资【圣才出品】第8章国际直接投资1.2004年,爱尔兰的外来直接投资占固定资本形成总额的大约24%,而日本的这一比例仅为0.6%。
你如何解释这两个国家外来直接投资的这种差异?答:固定资本形成总额是指投入在工厂、商店、办公大楼等的资本相加后的总额。
在其他因素不变的情况下,一个国家的资本投资越高,其未来发展前景越光明。
爱尔兰和日本外来直接投资占固定资本形成总额的比例不同,意味着外来直接投资已经成为爱尔兰经济增长的重要因素,而日本则不是。
这种差异的出现有以下几点原因:(1)由于日本的规章复杂,投资者会更谨慎;(2)日本政府出于对本国企业的照顾,设置了较高的贸易投资壁垒;(3)在爱尔兰建立营运部比在日本更容易;(4)公司可能认为爱尔兰作为资本投资目标更有吸引力;(5)爱尔兰是欧元区唯一讲英语的国家,而且是欧洲欧盟市场的理想之选;(6)爱尔兰税务简单、透明;(7)爱尔兰的运营人才多。
2.试比较以下解释国际直接投资的理论:内部化理论,弗农的产品生命周期理论,尼克博克的国际直接投资理论。
你认为哪个理论最好地解释了国际直接投资的历史模式?为什么?答:(1)三种国际直接投资理论①内部化理论解释了企业为何经常偏好国际直接投资而不是技术授权来进入外国市场。
根据内部化理论,以技术授权作为利用外国市场的战略具有三个主要缺陷:①技术授权可能导致一家公司将宝贵的技术和技能转让给潜在的外国竞争对手;②技术授权并不能使企业牢牢掌握利润最大化所需要的在国外的制造、营销和战略控制权;③如果企业的比较优势并非在于产品,而是在于生产这些产品的管理、营销和制造能力,这种能力并不是单靠技术授权所能拥有的。
②弗农的产品生命周期理论认为,企业会在其开发的产品处于生命周期的某个特定阶段时进行国际直接投资。
当其他发达国家的需求很大,足以支持当地的生产时,公司就会在这些国家投资。
当产品的标准化和市场的充分供应引发了价格竞争和成本压力时,公司就会将生产转移到发展中国家。
Key to the ExercisesUnit 1 Management and Managers管理和管理人员Part 1 ReadingText 1Pre-reading questions:1. M anagement is the organizational process that includes strategic planning, setting objectives, managingresources, deploying the human and financial assets needed to achieve objectives, and measuring results.Management also includes recording and storing facts and information for later use or for others within the organization.2. M anagement operates through various functions, often classifi ed as planning, organizing, staffi ng, directing andcontrolling.Text 2(1) D (2) F (3) B (4) A (5) CPart 2 ListeningI.Management1. Definition of management: Management is the process of working with and through others to achieve organizational objectives.2. Management skills: (1)Technical skills, (2)Human and communication skills, and Conceptual and(3)decision-making skills.3. Management functions: (4)Planning, (5)Organizing, (6)Leading, and (7)Controlling4. Management roles: (8)Interpersonal roles, (9)Information roles, and (10)Decisional roles.II.The Role of the Financial ManagerThe fi nancial manager acts as an intermediary between the fi rm’s operations and (1)capital markets, where the fi rm’s securities are traded. It was his job to trace the fl ow of cash from investors to the fi rm and back to investors again. First of all, he must understand how capital markets work. For example, suppose a fi rm chooses to fi nance a major expansion program by (2)issuing bonds. The fi nancial manager should have considered the term of the issue and concluded that it was fairly priced. And he should also have asked whether the fi rm’s stockholders would be made better or worse off by the extra debt standing between them and the fi rm’s (3)real assets. He should understand how corporate borrowing affects the value of the fi rm’s shares. The investment decision cannot be separated from capital markets either. A fi rm, which acts in its (4)stockholders’ interest, should accept those investments that increase the value of their stake in the fi rm. But that requires a theory of how (5)common stocks are valued.The fi nancial manager has to cope with (6)time and uncertainty. Firms often have the opportunity to invest inprojects which cannot pay their way in the short run and which expose therisk. The investment, if undertaken, may have to befi rm cannot walk away from such choices — someone has to decide whether the opportunity is worth more than it costs and whether the additionalMost of the time we assume that thethe fi rm. But thousands of people are involved in a large company. Each attends to his or her personal interests as wellPart 5 ExercisesI. Answer the following questions.略II. Tell whether the following statements are true or false.1. F2. F3. T4. T5. F6. TIII. Fill in the blanks with the appropriate form of the given words.1. rational2. empowering3. motivating4. Delegation5. micro-manage6. strategicIV. Fill in each blank with the most appropriate word given below in its right form.1. supervisor2. accountable3. diagnose4. administrator5. deploy6. rational7. empower8. delegation9. innovation 10. feasible11. in effect 12. hierarchy 13. discharge 14. fi nancial 15. executeV. Translate the following paragraph into Chinese.管理就像投资,它的目标是使资源得到最好的利用,增加最大的价值,取得最好的收益。
希尔《国际商务》(第11版)笔记和课后习题(含考研真题)详解完整版>精研学习网>免费在线试用20%资料全国547所院校视频及题库资料考研全套>视频资料>课后答案>往年真题>职称考试目录隐藏第Ⅰ篇引言和概论第1章全球化1.1复习笔记1.2课后习题详解1.3考研真题详解第Ⅱ篇国家差异第2章政治、经济和法律体系中的国家差异2.1复习笔记2.2课后习题详解2.3考研真题详解第3章经济发展中的国家差异3.1复习笔记3.2课后习题详解3.3考研真题详解第4章文化差异4.1复习笔记4.2课后习题详解4.3考研真题详解第5章伦理、企业社会责任和可持续发展5.1复习笔记5.2课后习题详解5.3考研真题详解第Ⅲ篇全球贸易与投资环境第6章国际贸易理论6.1复习笔记6.2课后习题详解6.3考研真题详解第7章政府政策与国际贸易7.1复习笔记7.2课后习题详解7.3考研真题详解第8章国际直接投资8.1复习笔记8.2课后习题详解8.3考研真题详解第9章区域经济一体化9.1复习笔记9.2课后习题详解9.3考研真题详解第Ⅳ篇全球货币制度第10章外汇市场10.1复习笔记10.2课后习题详解10.3考研真题详解第11章国际货币体系11.1复习笔记11.2课后习题详解11.3考研真题详解第12章全球资本市场12.1复习笔记12.2课后习题详解12.3考研真题详解第Ⅴ篇国际企业的战略与组织结构第13章国际企业的战略13.1复习笔记13.2课后习题详解13.3考研真题详解第14章国际企业的组织14.1复习笔记14.2课后习题详解14.3考研真题详解第15章进入战略和战略联盟15.1复习笔记15.2课后习题详解15.3考研真题详解第Ⅵ篇国际商务运营第16章出口、进口和对等贸易16.1复习笔记16.2课后习题详解16.3考研真题详解第17章全球生产与供应链管理17.1复习笔记17.2课后习题详解17.3考研真题详解第18章全球营销与研发18.1复习笔记18.2课后习题详解18.3考研真题详解第19章全球人力资源管理19.1复习笔记19.2课后习题详解19.3考研真题详解第20章国际企业的会计和财务20.1复习笔记20.2课后习题详解20.3考研真题详解内容简介隐藏本书是希尔《国际商务》教材的学习辅导书,主要包括以下内容:1.整理名校笔记,浓缩内容精华。
第17章全球生产与供应链管理1.某电子公司正考虑如何最有效地向世界市场提供用在消费品和工业电子产品中的微处理器。
建造一座制造厂约需5亿美元,并且要求劳动力熟练程度很高。
据估计未来10年这种产品的总市值为100亿~150亿美元。
该行业现行关税一般较低。
该公司应采用集中生产还是分散生产战略?为有利于生产,公司应将生产地点定在何处?答:(1)该公司应该集中生产,原因在于:①本行业的现行关税较低,因此集中生产之后销售到其他国家成本较低;②建造一座微处理器的制造厂成本很高,而且对劳动力熟练度要求高,分散生产难度大;③微处理器的价值重量比很高,运输成本相对产品价格较低。
所有的这些因素都使集中生产优于分散生产。
(2)至于将生产地点定在何处,这个公司应该考虑三个因素:国家因素、技术因素和产品因素。
①考虑国家因素,公司应该将生产地点放在拥有熟练的高技能劳动力的国家。
这条标准可能就将地点限制在了发达国家或者其他劳动力受教育程度较高的发展中国家。
②考虑技术因素,企业在从事特定制造活动中所采用的技术对于生产选址的作用可能是关键性的。
建造一座制造厂约需5亿美元,成本很高,应选择一个最理想的地点,建造一家工厂集中生产产品。
③考虑产品因素,较高的价值重量比和对产品的普遍需求也表明这家公司可以集中在一个地点进行生产。
2.某化工企业正计划如何最好地向世界市场供应硫酸。
建造一个工厂约花费2000万美元,需聘用具有中等熟练程度的劳动力。
未来10年,这种产品的总市值估计为200亿~300亿美元。
该产品现行关税水平中等。
该公司应采取集中生产还是分散生产战略?该公司应为其工厂寻找什么样的生产地点?答:(1)该公司应该采用有限的分散生产战略(意味着公司不需要在每一个销售产品的国家都建造一个工厂,只需在几个主要市场建造工厂)。
这一战略有意义是因为:①该产品现行关税水平中等(而不是低),集中生产然后分销到各国,关税成本可能较高;②建造一个工厂的成本也处于相对中等水平(2000万美元);③只需要中等熟练程度的劳动力,对劳动力要求较低,世界的许多国家都能提供;④硫酸属于价值重量比较低的产品,长途、远程运输运费成本较高。
国际商务英语谈判标准答案(全)国际商务英语谈判答案(全)————————————————————————————————作者:————————————————————————————————日期:Keys to the exercisesChapter 1 Fundamentals of International Business NegotiationCommunication Exercises1. Change the sentences from negative to positive.1) I want a job.2) I work hard.3) My job is terrific.4) This office is great.5) My co-workers are super.6) The Personnel Director is nice.7) My health is good.8) My attitude is positive.9) I make a good impression.10) I understand.2. Change or add to these sentences so that they do not just state what you want, but invite your negotiating partner’s opinion.a) Could we finish at five---if that’s all right with you?b) I hope you don’t min d if Miss Li sits in during the negotiation?c) Perhaps we could take a break now. Is that OK?d) Could we look at these three areas this morning?e) I would like to go through the written offer clause byclause, if that’s OK?f) Do you mind if I answer your questions at the end?3. What is meant by “negotiation”? How would you define “negotiation”?A negotiation is a meeting in which both parties need each other’s agreement toreach a specific objective. It is the mechanism by which people trade things of value in a civilized manner. Negotiation depends on communication. It occurs between individuals acting either for themselves or as representatives of organized groups. Negotiations are very much part of working and home life.Negotiations could be either internal or external, long or short, formal or informal. The goal of negotiation is not to win but to succeed. The mechanism of successful negotiation is collaboration.In negotiations, both parties should know----why they negotiate----who they negotiate with----what they negotiate about----where they negotiate----when they negotiate----how they negotiatemechanism [ ] n.---- a process by which something is done or comesinto being途径4. Fill in the blankshuman, negotiable, interest, giving, trust5. Answer the following questions1) Physical or survival needs; Security and safety needs;Social needs; Ego oresteem needs; Self-realization needs2) Exploration, bidding, bargaining, settling and ratifying.6. Put the following into English1) Are you negotiable?2) I'm sure there is some room for negotiation.3) Before we have anything to negotiate, you have to make me an offer.4) We could add it to the agenda.5) Would anyone like something to drink before we begin?6) See what I can do.7) I would if I could.8) I know I can count on you.9) We'll come out from this meeting as winners.10) I'll try to make you happy.7. True or false1) T 2) T 3) T 4) F (Everything is negotiable.)5) F (bargaining stage)6) F ( Do not often. Sometimes they will follow the sequence n one aspect of thedeal and then start all over again on a second aspect.)7) T8) F (May not. Because either side may be wiling to say what it thinks or take aposition and stick to it )9) T 10)Negotiation skills1.What determines a success in negotiation? Success in negotiation is when the parties to the negotiation reach anagreement to which they are both committed and which they will implement in full.committed [ ] v.----尽责的implement [ ●??] v.----to put into practical effect; carry out使生效;执行2. What are the elements of a successful negotiation process?There are seven basic elements that should be considered when analyzing the negotiation process:a.The relationship among the parties.b.The parties' interests -- why they need to reach their stated objectivesc.An understanding of the choices available if the parties cannot reachagreement, often called their BATNA -- Best Alternative To a Negotiated Agreementd.Creativity which will expand the bargaining choices among which the partiescan choose to reach agreemente.Fairness -- a person who negotiates unfairly may be able to force an agreement,but the 'forced' party will be reluctant to fulfill their share of the agreementf.Whether commitment has been reached. Will the parties each feel committedto doing what they have agreed? Is each party capable of fulfilling their share of the deal?g.Negotiation is all about communicating information. If one party knowseverything then why do they need to negotiate with anyone else?And the foundation of good negotiation is preparation. Be prepared and thenegotiation will bring a result that really works. If well prepared you are lessvulnerable to surprise, and that increases the likelihood you'll be happy with the result.vulnerable [ ??●●] adj.----易受攻击的, 易受...的攻击3. Your client comes into your office and is exceedingly grumpy and difficult to talk to. How do you approach your client so as to make your meeting as productive as possible?Answer: (e)When the client is grumpy, their emotions will inevitably cloud their judgment and make it difficult to interact with them on substantive matters. At the same time, if they are experiencing anger, it is important to ensure them that we understand that they are upset. By acknowledging the client's anger and offering our assistance, the client will feel as though we are on the "same side" and treat us as friends and continue to direct their anger elsewhere- allowing us to focus on the substantive issues.substantive [ ] adj.----of or relating to the essence 实质的Chapter 2 Proper Behaviors in International Business Negotiation Communication Skills1. What would you say if…a.Thank you./No, after you.b.Thanks. I’ll need it.c.Thank s. That’s very kind.d.Thanks for coming all the way.e.Thanks for helping. That was very kind of you.f. Thank you for thinking of me, but I’m afraid I can’t take it.2. Answer the following questions.(1) Only about half of what he or she heard(2) Not only does note taking force you to listen carefully, but it alsopsychologically throws the speaker off the balance when he or she sees you nodding and furiously writing away and having a record of all the facts and basically everything said. A further benefit of note taking is that you have the perfect excuse to avoid eye contact if you are afraid to reveal your reactions to someone’s proposals(3) Questions appear to be able to be divided into five basic functions:①Cause attention.②Get information.③Giv e information.④Start thinking.⑤Bring to conclusion.(4) There are two ways to assure a high degree of reliability for answers to yourquestions. One way is to lay the foundation for asking them. The second is through the use of the tactic called “bipolar questioning.”(5) A firm handshake gives the impression of quiet confidence and says that thisperson is glad to meet you.3. Choose the best answer.(1) D (2) C (3) B (4) A (5) (6) D (7) B (8) C (9) A (10)A4. Translate the following into English.(1) Th ere’s a great demand for our new product.(2) This product has good prospects.(3) We need to talk about the basic terms of the transaction.(4) If your prices are reasonable and the quality is satisfactory, we shall placesubstantial orders with you.(5) It’s unwise for both of us to insist on his own price. Can we each make someconcession?(6) If y ou cannot reduce your price, we’d rather call the whole deal off.(7) If you want to expand your business in this market, you have to take flexibleways in adopting payment terms.(8) We regret that we cannot accept your demand for direct shipment.(9) This product has many advantages compared to other competing products.(10)I’m very glad that we have finally come to an agreement. We’ll go on toother terms and conditions tomorrow. Is it all right with you?5. True or false.(1) F (2) T (3) F (4) T (5) F (6) T (7) F (8) F (9) F (10) TNegotiation Skills1. The person you are negotiating with continually repeats the same argument despite the fact that you have given them a number of counterarguments. What do you do to move the negotiation forward?Answer: (a)One of the most powerful tools in negotiation is how to listento what the other party is saying. Very often, we are too focused on the points we are trying to get across to listen to what our counterparts are trying to say.If people keep repeating themselves, they are subconsciously sending a signal that they feel what they are saying is important. And they want us to acknowledge that we have heard and understand them.Accordingly, the best thing to do in this situation is to rephrase what they keep repeating and ask them if we have accurately restated their point. Only when they feel as though they have been heard will they be able to listen to usEffective listening involves much more than simply hearing and understanding what the counterpart is saying. Effective listening is a set of tools and techniques which expert negotiators use to gain control of the negotiation and turn it to their advantage.2. What are the key communication skills used in negotiation?The key communication skill in negotiation is to listen. There's an old saying: God gave us one mouth and two ears, and we should use them in that ratio.Obviously when we are listening, we need to be listening for useful information. Thus it is very important to plan ahead, thinking about what we can learn that will help us decide what approach to take and to learn about what appeals to the parties with whom we are negotiating. So think about the questions you're going to ask; the result should reward your listening with real problem-solving information.Chapter 3 Choosing the Negotiation TeamCommunication Exercises1. What is the more indirect question or statement behindthe following sentences?a. I’m not entirely convinced by these forecasts.b.We’d like to know something about your planning.c.I’d be interested to hear a bit about payment.d.Your costs could cause one or two problems.e.Perhaps we could talk a little bit about figures.f.That figure looks a little on the high side.g.Delivery is an area which we’d like to explore a little further with you.h.I’d like to know more about your management structure.1.Write the name of the position in the blank.1) CEO/the president2) Assistant Manager, Europe3) Purchasing Clerk4) Personnel Assistant5) Vice-President, Administration3. (omitted)4. (omitted)5. Fill in the blanks1)maximum2) observers; advisers; speaking; training6. Translate the following into English1)Negotiation is a team sport.2)The negotiator’s function is to negotiate, while the functional specialists provide specialist advice or information.3) The team leader is the person who generates enthusiasm in his team tomaintains the morale under all conditions.4) The team members must learn that the opponent and its representatives areadversaries although they may be friendly.5)I’m afraid you are not in our ballpark.6) Excuse me, but it seems to me we’re giving up too much in this case.7)That’s too great a financial bu rden for us.8) 10% is beyond my negotiating limit.9)If you can guarantee that on paper, I think we can discuss this further.10)Could you explain what you mean by that?7. True or false1). F 2). T 3). T 4). F (maximize) 5). T 6). F (can’t)7). F (both sides) 8). T 9). T 10). F (There is no need to )Negotiation skills1. What do you think are the personal qualities of a good negotiator?A good negotiator needs to be:1) A good listener2)Open-minded3)Willing to do the homework to determine her/his interests, objectives,and alternatives4)Well-prepared5)Creative6)Able to merge what he knows about his own interests and resourceswith the interests and resources of his negotiation partner7)Someone who is always learning from experience, from other peopleand from historymerge [] v. ----to combine or unite 使合并或结合2. How to be a cool negotiator?Acting cool is a good part of successful negotiation. But one needs to make sure it is not just an act. The 'coolness' needed for successful negotiation really means keeping a cool analytical head. If there is any chance one shouldprepare ahead of time: what do I want and why do I want it? What do theywant and why do they want what they want?During the process, one should find ways to take a step back from the discussion and look at what is going on with that same cool head. 'Why did he say that? What arguments or tactics are being used?3. How to control anger for effective negotiating?When tempted to get angry, remember to check whether or not it is your turn. If it is someone else's turn to get angry, sit there and take it by reminding you how wonderful you are to be in such control of your emotions.One fundamental rule is: only one person can be angry at a time. Don't let thesituation escalate, civility will slip away awfully quickly and there will be a very tough time healing the relationship or solving the initial issue.civility [●???] n. ----a courteous act or utterance有礼貌的举止或表达4. What are the advantages and disadvantages of team negotiations?Negotiating as part of a team requires very careful preparation. The biggestdanger in team negotiation is that your counterparts will see or hear that you and your colleagues don't agree with each other.If they can find differences, theymay spot opportunities to drive wedges between your team members.wedge [] n.----something that intrudes and causes division or disruption侵入引起分裂的东西Teams can work together ahead of time on strategy: who is going to be thespokesperson on which issues? What information do we need and who is going to ask the relevant questions? Who can communicate what decisions to the 'other side'? What members of the team are the experts on technical matters, business matters, etc.?But even if a group of colleagues work hard at developing a commonly agreed strategy you will find that, there is still a risk that someone will say something out of turn or which is not part of his role. They need to explore how to cope with such problems during the actual negotiation.Individual negotiations have certain other advantages: the negotiator can present him/herself as the decision-maker or as the spokesperson for their company or colleagues. This gives the individual negotiator considerable flexibility that may not be available in team negotiation situations.Chapter 4 Preparing for NegotiationCommunication Exercises1. What would you say in these situations?1) Mrs Zhang, I’d like you to meet Tracy Morris. She’s our new sales clerk.2) Hello, Kathy. Nice to meet you.3) That’s right. Ye s, we once worked together in.4) I’m terribly sorry. I’ve forgotten your name.5) Yes, good morning. My name is … I’ve got an appointment with…6) Did you have a good journey? It’s very nice of you to come all this way.7) Would you like a coffee? Or Would you like something to drink?8) Good heavens, is tha t the time? I didn’t realize it was so late. I really must begoing now.2. Make these sentences more concise1) He’s an assistant in Personnel.2) She’s the Vice-President in Sales and Marketing.3) H e’s the Assistant Manager in Domestic Sales.4) She’s the Manager in International Sales.5) He’s an accountant in Accounting.3. Combine these sentences as concise as possible1) She is a clerk in Purchasing at ABC Company.2) He’s a salesman in the Asian Pacific Division at Sun Computer Company.3) She’s t he Manager of Domestic Sales at Legend Group.4) He’s a secretary in Personnel at Huatian Hotel.。
Global business todayChapter 1: Globalization1. Describe the shifts in the world economy over the last 30 years. What are the implications of these shifts for international businesses based in Great Britain? North America? Hong Kong? Answer: The world economy has shifted dramatically over the past 30 years. As late as the 1960s, four stylized facts described the demographics of the global economy. The first was U.S. dominance in the world economy and world trade. The second was U.S. dominance in the world foreign direct investment picture. Related to this, the third fact was the dominance of large, multinational U.S. firms in the international business scene. The fourth was that roughly half of the globe - the centrally planned economies of the Communist world - was off-limits to Western international businesses. All of these demographic facts have changed. Although the U.S. remains the world's dominant economic power, its share of world output and world exports have declined significantly since the 1960s. This trend does not reflect trouble in the U.S. economy, but rather reflects the growing industrialization of developing countries such as China, India, Indonesia, and South Korea. This trend is also reflected in the world foreign direct investment picture. As depicted in Figure 1.2 in the textbook, the share of world output (or the stock of foreign direct investment) generated by developing countries has been on a steady increase since the 1960s, while the share of world output generated by rich industrial countries has been on a steady decline. Shifts in the world economy can also be seen through the shifting power of multinational enterprises. Since the 1960s, there have been two notable trends in the demographics of the multinational enterprise. The first has been the rise of non-U.S. multinationals, particularly Japanese multinationals. The second has been the emergence of a growing number of small and medium-sized multinationals, called mini-multinationals. The fall of Communism in Eastern Europe and the republics of the former Soviet Union have brought about the final shift in the world economy. Many of the former Communist nations of Europe and Asia seem to share a commitment to democratic politics and free market economies. Similar developments are being observed in Latin America. If these trends continue, the opportunities for international business may be enormous. The implications of these shifts are similar for North America and Britain. The United States and Britain once had the luxury of being the dominant players in the world arena, with little substantive competition from the developing nations of the world. That has changed. Today, U.S. and British manufacturers must compete with competitors from across the world to win orders. The changing demographics of the world economy favor a city like Hong Kong. Hong Kong (which is now under Chinese rule) is well located with easy access to markets in Japan, South Korea, Indonesia, and other Asian markets. Hong Kong has a vibrant labor force that can compete on par with the industrialized nations of the world. The decline in the influence of the U.S. and Britain on the global economy provides opportunities for companies in Hong Kong to aggressively pursue export markets.2. "The study of international business is fine if you are going to work in a large multinational enterprise, but it has no relevance for individuals who are going to work in smaller firms." Evaluate this statement.Answer: People who believe in this view, and the firms that they work for, may find that they do not achieve their full potential (at best) and may ultimately fail because of their myopia. As barriers to trade decrease and state of the art technological developments take place throughout the world, new opportunities and threats exist on a worldwide basis. The rise of the mini-multinationals suggests there are global opportunities even for small firms. But staying attuned to international markets is not only important from the perspective of seeking profitable opportunities for small firms; it can also be critical for long-term competitive survival. Firms from other countries may be developing products that, if sold internationally, may wipe out small domestic competitors. Scanning international markets for the best suppliers is also important for small firms, for if a domestic competitor is able to tap into a superior supplier from a foreign country, it may be able to seriously erode a small firm's competitive position before the small firm understands the source of its competitor's competitive advantage and can take appropriate counter actions.3. How have changes in technology contributed to the globalization of markets and of production? Would the globalization of production and markets have been possible without these technological changes?Answer: Changes in technology have contributed to the globalization of markets and of production in a very substantive manner. For instance, improvements in transportation technology have paved the way for companies like Coca-Cola, Levi Strauss, Sony and McDonalds to make their products available worldwide. Similarly, improvements in communications technology have had a major impact. The ability to negotiate across continents has been facilitated by improved communications technology, and the rapidly decreasing cost of communications has lowered the expense of coordinating and controlling a global corporation. Finally, the impact of information technology has been far reaching. Companies can now gain worldwideexposure simply by setting up a homepage on the Internet. This technology was not available just a few short years ago. The globalization of production and markets may have been possible without improvements in technology, but the pace of globalization would have been much slower. The falling cost of technology has made it affordable for many developing nations, which has been instrumental in helping these nations improve their share of world output and world exports. The inclusion of these nations, such as China, India, Thailand, and South Korea, has been instrumental in the globalization of markets and production. In addition, improvements in global transportation and communication have made it relatively easy for business executives from different countries to converse with one another. If these forms of technology, including air-travel, fax capability, e-mail, and overnight delivery of packages were not available, it would be much more difficult for businesses to conduct international trade.4. "Ultimately, the study of international business is no different from the study of domestic business. Thus, there is no point in having a separate course on international business." Evaluate this statement.Answer: This statement reflects a poor understanding of the unique challenges involved in international business. Managing an international business is different from managing a purely domestic business for at least four reasons. These are: (1) countries are different; (2) the range of problems confronted by a manager in an international business is wider and the problems themselves more complex than those confronted by a manager in a domestic business; (3) an international business must find ways to work within the limits imposed by government intervention in the international trade and investment system; and (4) international transactions involve converting money into different currencies. As a result of these differences, there are ample reasons for studying international business as a specific field of study or discipline.5. How might the Internet and the associated World Wide Web impact international business activity and the globalization of the world economy?Answer: According to the text, the Internet and World Wide Web (WWW) promise to develop into the information background of tomorrow's global economy. This improved technology will not only make it easier for individuals and companies in different countries to conduct business with one another, but will also further decrease the cost of communications. These improvements will undoubtedly hasten the already rapid pace of globalization. Another distinct attribute of the Internet and the WWW is that they act as an equalizer between large (resource rich) and small (resource poor) firms. For instance, it does not cost any more for a small software firm to gain visibility via the WWW than it does for a large software company like Microsoft. As a result, the WWW helps small companies reach the size of audience that was previously only within the reach of large, resource rich firms.6. If current trends continue, China may emerge as the world's largest economy by 2020. Discuss the possible implications of such a development for(1) The world trading system.(2)The world monetary system.(3)The business strategy of today's European and U.S. based global corporations.(4)Global commodity prices.Answer: The world trading system would clearly be affected by such a development. Currently China enjoys a somewhat privileged status within the World Trade Organization as a ―developing‖ country. Such a rise to eminence, however, would clearly force it to become a full and equal member, with all the rights and responsibilities. China would also be in a position to actively affect the terms of trade between many countries. On the monetary front, one would expect that China would have to have fully convertible and trading currency, and it could become one of the ―benchmark‖currencies of the world. From the perspective of Western global firms, China would represent both a huge market, and potentially the home base of some very capable competitors. Finally, commodity prices would probably fall.7. Read the Country Focus in this chapter on the Ecuadorian rose industry, the answer the following questions:a) How has participation in the international rose trade helped Ecuador’s economy and its people? How has the rise of Ecuador as a center for rose growing benefited consumers in developed nations who purchase the roses? What do the answers to these questions tell you about the benefits of international trade?b) Why do you think that Ecuador’s rose industry only began to take of 20 years ago? Why do you think it has grown so rapidly?c) To what extent can the alleged health problems among workers in Ecuador’s rose industry be laid at the feet of consumers in the developed world and their desire for perfect Valentine’s Day roses? d) Do you think governments in the developed world should place trade sanctions on Ecuador roses if reports of health issues among Ecuadorian rose workers are verified? What else might they do to improve the situation in Ecuador?a) Ecuador is the world’s fourth largest producer of roses. In fact, roses represent the country’s fifthlargest export. The industry is vital to Ecuador’s economy, creating tens of thousands of jobs, jobs that pay significantly above the country’s minimum wage. Taxes and revenues from the rose growers have also helped to pave roads, build schools, and construct sophisticated irrigation systems. For Ecuador’s consumers, the success of the industry means bigger, more vibrant flowers than were previously available. Most students will recognize that the conditions in Ecuador give the country a distinct advantage in rose growing, and that by focusing on the industry, Ecuador has been able to benefit from international trade. Consumers in other countries also benefit from Ecuador’s flower exports with better products.b) Ecuador’s rose industry began some 20 years ago, and has been expanding rapidly ever since then. Most students will probably focus advances in technology as a key to the industry’s success. Roses are a very fragile, perishable product. Modern technology enables growers to used refrigerated air transport to get the product to markets around the globe. Without that ability, the growers would be limited to the market immediately surrounding the country.c) Students will probably be divided on this issue with some students arguing that consumers are to blame for the problems, and others placing the blame on the growers. Students taking the first perspective will probably suggest that most consumers purchase their roses with little consideration for how they are grown. Rather, most consumers simply focus on their beauty and price. Students blaming the growers might argue that growers, because they feel the effect of less-than-perfect roses in the form of smaller profits, will be motivated to find ways to produce ever more perfect flowers. Certainly, the use of pesticides and other products can produce a better crop. In the end, there is probably blame on both sides. If more consumers were aware of the health problems resulting from the improper use of pesticides, they would probably demand some changes. Similarly, if pressure were put on the growers to use pesticides safely, health problems could be reduced.d) Trade sanctions are a tool that is often employed by governments that are making a statement against a specific action or actions. In the case of Ecuador, trade sanctions certainly would be an option, as would publicizing the situation so that more consumers were aware of the conditions. In the end though, it is important to consider the effect of the sanctions or other measures on people like Maria who might lose their livelihood as a result.Chapter 2: National Differences1. Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth! Discuss.Answer: In a market economy, private individuals and corporations are allowed to own property and other assets. This right of ownership provides a powerful incentive for people to work hard, introduce new products, develop better advertising campaigns, invent new products, etc., all in the hopes of accumulating additional personal capital and wealth. In turn, the constant search on the part of individuals and corporation to accumulate wealth enriches the entire economy and creates economic growth. In contrast, in a command economy, private individuals and corporations are not allowed to own substantial quantities of property and other assets. The objective of a command economy is for everyone to work for ―the good of the society.‖Although this sounds like a noble ideal, a system that asks individuals to work for the good of society rather than allowing individuals to build personal wealth does not provide a great incentive for people to invent new products, develop better advertising campaigns, find ways to be more efficient, etc. As a result, command economies typically generate less innovation and are less efficient than market economies.2. A democratic political system is an essential condition for sustained economic progress. Discuss.Answer: This question has no clear-cut answer. In the West, we tend to argue that democracy is good for economic progress. This argument is largely predicted upon the idea that innovation is the engine of economic growth, and a democratic political system encourages rather than stifles innovation. However, there are examples of totalitarian regimes that have fostered a market economy and strong property rights protection and experienced rapid economic growth. The examples include four of the fastest growing economies of the past 30 years – South Korea, Taiwan, Singapore, and Hong Kong –all of which have grown faster than Western economies. However, while it is possible to argue that democracy is not a necessary precondition for the establishment of a free market economy, it seems evident that subsequent economic growth leads to establishment of democratic regimes. Several of the fastest-growing Asian economies have recently adopted more democratic governments.3. What is the relationship between corruption (i.e., bribe taking by government officials) in a country and economic growth? Is corruption always bad?Answer: Economic evidence suggests that high levels of corruption significantly reduce the economic growth rate in a country. By siphoning off profits, corrupt politicians and bureaucrats reduce the returns to business investment, and hence, reduce the incentive that both domestic and foreign businesses have to invest in that country. The lower level of investment that results has a negative impact on economic growth. However,while most students will probably agree that corruption is bad, some may point out that the U.S., despite its Foreign Corrupt Practices Act, does allow ―grease payments‖to expedite or secure the performance of a routine governmental action. According to Congress, ―grease payments‖while technically bribes are not being used to obtain or maintain business, but rather are simply made to facilitate performance of duties that the recipients are already obligated to perform.4. The Nobel prize-winning economist Amartya Sen argues that the concept of development should be broadened to include more than just economic development. What other factors does Sen think should be included in an assessment of development? How might adoption of Sen’s views influence government policy? Do you think Sen is correct that development is about more than just economic development? Explain.Answer: Sen has argued that development be assessed less by material output measures such as GNP per capita, and more by the capabilities and opportunities that people enjoy. Sen suggests that development be seen as a process of expanding real freedoms that people experience, and as such, that development requires the removal of major impediments to freedom. Governments influenced by Sen might ensure that basic health care and education programs are available especially for women. Many students will agree with Sen and the notion that development is not just an economic process, but a political one too, and that to succeed citizens must be given a voice in the important decisions made for the country.5. You are the CEO of a company that has to choose between making a $100 million investment in either Russia or the Czech Republic. Both investments promise the same long-run return, so your choice of which investment to make is driven by considerations of risk. Assess the various risks of doing business in each of these nations. Which investment would you favor and why?Answer: When assessing the risks of investment, one should consider the political, economic, and legal risks of doing business in either Russia or the Czech Republic. At this time (Fall 2002), the risk in Russia would probably be considered higher than the risk in the Czech Republic. The Czech Republic has just been accepted as a future member of the EU, and as such gains the benefits and stability offered by the EU. Russia, by contrast, is still many years away from even being in a position to be considered by the EU for membership. Depending upon when you are using the book, this situation could be different. (You also may want to substitute other countries into this question depending on current events and the countries with which you feel your students will be most familiar.)6. Read the Country Focus on India in this chapter and answer the following questions:a. What kind of economic system did India operate during 1947-1990? What kind of system is it moving towards today? What are the impediments to completing this transformation?b. How might widespread public ownership of businesses and extensive government regulations have impacted (i) the efficiency of state and private businesses, and (ii) the rate of new business formation in India during the 1947-1990 time frame? How do you think these factors affected the rate of economic growth in India during this time frame?c. How would privatization, deregulation, and the removal of barriers to foreign direct investment affect the efficiency of business, new business formation, and the rate of economic growth in India during the post-1990 time period?d. India now has pockets of strengths in key high technology industries such as software and pharmaceuticals. Why do you think India is developing strength in these areas? How might success in these industries help to generate growth in other sectors of the Indian economy?e. Given what is now occurring in the Indian economy, do you think that the country represents an attractive target for inward investment by foreign multinationals selling consumer products? Why? Answer:a. The economic system that developed in India after 1947 was a mixed economy characterized by a large number of state-owned enterprises, centralized planning, and subsidies. In 1991, India’s government embarked on an ambitious economic reform program. Much of the industrial licensing system was dismantled, and several areas once closed to the private sector were opened. In addition, investment by foreign companies was welcomed, and plans to start privatizing state-owned businesses were announced. India has posted impressive gains since 1991, however there are still impediments to further transformation. Attempts to reduce import tariffs have been stalled by political opposition from employers, employees, and politicians. Moreover, the privatization program has been slowed thanks to actions taken by the Supreme Court. Finally, extreme poverty continues to plague the country.b. The mixed economy that developed in India after 1947 was characterized by a large number of state-owned enterprises, centralized planning, and subsidies. This system not only constrained the growth of the private sector, but it also consequently limited the effects of competition that typically promote efficiency and productivity in a free market system. The system even limited the actions of private companies, requiring them to get government approval for routine business activities. Production quotasand high import tariffs also stunted the development of a healthy private sector, as did restrictive labor laws that made it difficult to fire employees. Foreign exchange restrictions, limitations on foreign investment, controls on land use, and managed prices further exacerbated the situation. It would appear that India’s rate of economic growth was negatively affected during this time frame. By 1994, India’s economy was still smaller than Belgium’s despite having a large population. Both GDP and literacy rates were very low, and some 40 percent of the population lived in poverty.c. In 1991, India’s government embarked on an ambitious economic reform program. So far, the response to the program has been impressive. The economy expanded at an annual rate of about 6.3 percent from 1994 to 2004. Foreign investment is up from $150 million in 1990 to $6 billion in 2005. Certain sectors of the economy including information technology and pharmaceuticals have done particularly well. Still, problems persist. Actions taken by the government continue to limit efficiency gains for private companies and the country’s high rate of poverty is still a major problem.d. India’s gains in information technology and pharmaceuticals are impressive. The country has emerged as a vibrant global center for software development, and India’s pharmaceutical companies have taken a strong global position by selling low cost generic versions of drugs that have come of patent in the developed world. As these industries continue to prosper, other sectors of the economy should also see the benefit of spillover effects.e. Foreign investment is up in India. In fact, foreign investment rose from $150 million in 1990 to $6 billion in 2005. However, whether India is an attractive destination for foreign multinationals selling consumer products remains to be seen. Certainly, the large population will serve to attract some companies, but the fact that some 40 percent of the population is living in abject poverty will scare other companies away. Moreover, it is still not easy to run a company in India thanks to laws limiting everything from who can be fired to who can which products.Chapter 3: Differences in Culture1. Outline why the culture of a country influences the costs of doing business in that country. Illustrate your answer with examples.Answer: Since in a sense the entire chapter is about this question, there can be numerous reasons and examples of how culture influences the costs of doing business. Several are highlighted in the following sentences, but there could be numerous others. When there are simply different norms between how individuals from different countries interact, the costs of doing business rise as people grapple with unfamiliar ways of doing business. For example, while in the US we may get down to business first, and then get to know each other socially later, in many South American countries it is important develop a good social relationship before trying to discuss business issues. Different class structures and social mobility also raise the costs of doing business, for if there are inhibitions against working with people from different classes, then the efficiency with which information can flow may be limited and the cost of running a business increased.A country's religion can also affect the costs of business, as religious values can affect attitudes towards work, entrepreneurship, honesty, fairness, and social responsibility. In Hindu societies where the pursuit of material well-being can be viewed as making spiritual well being less likely, worker productivity may be lower than in nations with other religious beliefs. Finally, a country's education system can have important implications for the costs of business. In countries where workers receive excellent training and are highly literate, the need for specific worker training programs are decreased and the hiring of additional employees is facilitated.2. Do you think business practices in an Islamic country are likely to differ from business practices in the United States? If so, how?Answer: A number of aspects of the cultural differences between an Islamic country and the USA will cause business practices to differ. The role women can take, appropriate etiquette (including simple things like not passing papers with the left hand), holidays, and wining and dining all differ from in the USA. But beyond these, the underlying philosophy and role of business differs from in the USA. Since Muslims are stewards of property for God, rather than owners, they are more likely to use their resources carefully and may be less likely to give up or sell something to a person who may not practice the same stewardship. The importance of fairness to all parties in relations means that over-aggressiveness in self-interest may not be well received, and breaking an agreement, even if technically/legally permissible may be viewed as very inappropriate. Finally, the prohibitions on interest payments in some Islamic countries means that the wording of the terms of an agreement must be done carefully so that "fair profits" are not construed as being "interest payments."3. What are the implications for international business of differences in the dominant religion of a country?Answer: Differences in the dominant religion of a country affect relationships, attitudes toward business, and overall economic development. Firstly, differences in religion require inter-cultural sensitivity. Thissensitivity requires things like simply knowing the religious holidays, accepting that some unexpected things may happen "because of Allah's will," or understanding how interpersonal relationships may be different between "believers" and "non-believers." (Hence non-believers may be treated differently.) Secondly, religious beliefs can significantly affect a countries attitude toward business, work, and entrepreneurship. In one country successfully beating a competitor may be considered a great achievement while in another it may be thought of as showing a lack of compassion and disruptive to the society and persons involved, both attitudes that may be derived from underlying religious beliefs. Likewise, hard work may be either rewarded positively or viewed as something of secondary importance to spiritual peace and harmony. Thirdly, different dominant religions may affect the overall competitiveness and potential for economic growth of a nation, and hence attractiveness of a country for international business.4. Choose two countries that appear to be culturally diverse. Compare the culture of those countriesand then indicate how cultural differences influence(1)the costs of doing business in each country(2)the likely future economic development of that country(3)business practices(4)business ethicsAnswer: Responses to this question will obviously vary based on the countries chosen by the students, and their knowledge of the countries. Hopefully the student can present some information on the dimensions of culture including values, norms, social structure, religion, language, and education of the countries and also describe the key differences and similarities of the countries along these dimensions. Relating the differences between the countries along these dimensions to differences in the costs of doing business, the potential for economic development, and business practices would fully answer the question. (While it may be more difficult for students to come up with really good examples relative to business practices, the costs and prospects for economic development should be quite feasible.)Chapter 4: Ethics in International Business1. Review the Management Focus on testing drugs in the developing world and discuss the following questions:(a) Did Pfizer behave unethically by rushing to take advantage of an epidemic in Nigeria in order to test an experimental drug on sick children? Should the company have proceeded more carefully?(b) Is it ethical to test an experimental drug on children in emergency settings in the developing world where the overall standard of health care is much lower than in the developed world, and where proper protocols might not be followed?Answer: Some students might argue that Pfizer was between a rock and a hard place. The company needed to test its drug on children prior to getting FDA approval, yet the company could not find enough sick children to properly test the drug. Most students will probably agree that the company acted irresponsibly with its testing in Nigeria, and that the company should have proceeded more carefully, but some students may also suggest that had the drug proved to be extremely successful in treating bacterial meningitis, Pfizer might have been seen as a hero, despite its questionable ethics.2. A visiting American executive finds that a foreign subsidiary in a poor nation has hired a 12-year old girl to work on a factory floor, in violation of the company’s prohibition on child labor. He tells the local manager to replace the child and tell her to go back to school. The local manager tells the American executive that the child is an orphan with no other means of support, and she will probably become a street child if she is denied work. What should the American executive do?Answer: This question, illustrating a potentially very real ethical dilemma facing managers working in foreign subsidiaries, is designed to stimulate class discussion. Students should recognize that neither alternative—violating the company’s position on child labor, nor putting the child out on the streets—seems acceptable. In the end, many students may agree that allowing the child to continue to work in the factory is the lesser of the two evils.3. Drawing upon John Rawls’ concept, the veil of ignorance, develop an ethical code that will(a) guide the decisions of a large oil multinational towards environmental protection, and(b) influence the policies of a clothing company to outsource its manufacturing process?Answer: According to John Rawls, a decision is just and ethical if people would allow for it when designing a social system under a veil of ignorance. Rawls’ veil of ignorance is a conceptual tool that can contribute towards the moral compass that managers can use to help them navigate through difficult ethical dilemmas. This question can produce some interesting responses particularly in a class with a diverse group of nationalities.4. Under what conditions is it ethically defensible to outsource production to producers in the。