The economic power of Brazil, Russia, India and China (BRICs) is rapidly increasing, changing the landscape of global economics and politics. Top scholars of international business address in this vital volume the markets, strategy implications, challenges and possibilities of this new economic reality. As these four nations acquire greater economic clout, the opportunities for other countries increase. The contributors describe the favorable circumstances these evolving economies could provide for the US and other countries, such as expanded markets and services, higher returns on investments, and new partners in building a more peaceful and prosperous world. In contrast, they also discuss risks to traditional industries and possible challenges to positions on human rights and intellectual property protections, environmental standards, free markets and democratic governments. The volume emphasizes the need for companies to adopt strategies to stay ahead in the changing business environment. Governments must also design and implement new policies geared toward mutually beneficial relationships with BRICs. This enlightening study will be of great interest to students and scholars of international business. Executives of large companies will find it of great practical use when planning their organization s future strategies.
Preface to the Indian adaptation -- About the authors -- Introduction to international business environment -- Global business in the 21st century -- Corporate citizenship, social responsibility, and ethics -- International business environment -- Cultural context of international business -- Political and legal environments of international business -- Economic systems and international trade -- International trade, investment, and regional integration -- Foreign direct investment -- International trade, investment, and regional integration -- The global financial system -- International business strategy -- International and global strategy -- Global alliances: joint ventures and merges and acquisitions -- International business management -- Global technology management -- Global human resources management -- International financial management -- Global operations and supply chain management -- Global marketing, sales, and support -- International accounting and taxation -- Glossary -- Index