A Guide to the Global Business Environment: The Economics of International Commerce

This MBA textbook provides a guide to the international institutions, both public and private, that exist to regulate and facilitate international business. William Kerr and Nicholas Perdikis explain how international business decision making should take into account the ideas and institutions that make up the international commercial environment, such as why trade theories are important to business; the ways in which governments can restrict trade; the role of international trade rules in reducing risk; the threats that anti-dumping and countervail actions pose; the pros and cons of operating multilaterally; the role of trading houses and the advantages of using private sector institutions to settle international business disputes.Key features include: Economic theory presented in a business-friendly style; Major arguments in international trade theory outlined and critically assessed; An explanation of the role and rules of international organizations, such as the WTO Barriers to trade and how they can affect competitiveness; An exploration of the organizational choices (e.g. direct exporting, becoming a multinational, joint ventures, etc.) open to those participating in international business; and Discussion of the international private sector arrangements which ensure payment, facilitate the movement of products and resolve disputes. This book will be essential reading for senior executives needing to familiarize themselves with the international commercial environment. It will also be an excellent resource for executive and international MBAs, as well as upper level international business students.

Table of Contents:
Contents: Introduction 1. Why Study the Global Business Environment? 2. International Trade and Economic Theory 3. The Great Debate - Free Trade Versus Protectionism 4. The Search for Orderly system for Trade 5. Regional Trade Associations 6. Institutions of the Multilateral Trading System 7. Orderly Markets 8. How Countries Restrict Trade 9. Control of the Use of Trade Barriers 10. ‘Fair’ Trade 11. National Firms and Transnational Firms 12. Private Firms and State Trading Agencies 13. Production Firms and Trading Houses 14. Financing International Transactions 15. Moving Products Between Countries 16. The Settlement of International Disputes 17. Facing the Future 18. Issues for the International Trading System Exercise Glossary Index

About the Author :
William Kerr, University Distinguished Professor, University of Saskatchewan, Canada and Nicholas Perdikis, Professor of International Business, Aberystwyth University, UK

Review :
‘This book is a tour de force of international commerce. It is a must read for both, high level students and practitioners interested in understanding all the risks and benefits of the global trade activity. The breath of coverage in the book of all the issues involved in the commercial activity, from the theoretical economic models to the institutional approach, with the explanation of the role and rules of the international organizations, provides a unique and coherent vision of the real life issues in the global business environment.’ ‘I have used the materials contained in this book extensively in a major trade-related capacity, building a technical training program for trade officials and business people in six countries in Southeast Asia to great effect. The book fills an important gap in the existing literature on the subject and links international economic policy to practical hands on international business management. It underlines the importance of understanding the increasingly complex nature of international markets and offers useful options for mitigating their risk.’