• Online Resources: MindTap® for Peng's GLOBAL BUSINESS, 4th Edition, is the digital learning solution that helps instructors engage and transform today's students into critical thinkers. Through paths of dynamic assignments and applications that you can personalize, real-time course analytics and an accessible reader, MindTap helps you turn cookie cutter into cutting edge, apathy into engagement, and memorizers into higher-level thinkers.
• New Videos: As a new video feature (and the first in the industry), GLOBAL BUSINESS, 4th Edition, introduces videos to support the Opening Case and Closing Case of every chapter. Strengthening key learning objectives for every chapter, these up-to-date real-world examples address topics such as the future of the global economy, LEGO's secrets, the story behind Sriracha, the rise of Alibaba, Germany's unhappiness about EU bailouts, and many more. Videos complement the Opening and Closing Cases and add perspective to the narrative and data presented in the cases. A complete Video Guide is available to assist instructors in integrating this resource into classroom presentations.
• New Cases: With 28 Integrative Cases, the fourth edition of GLOBAL BUSINESS features more Integrative Cases than prior editions.

Part 1 Laying Foundations

Chapter 1: Globalizing Business

1.1 What Is Global Business?

1.2 Why Study Global Business?

1.3 A Unified Framework

1.4 What Is Globalization?

1.5 Global Business and Globalization at a Crossroads

1.6 Organization of the Content

Chapter 2: Understanding Formal Institutions: Politics, Laws, and Economics

2.1 Understanding Institutions

2.2 What Do Institutions Do?

2.3 An Institution-Based View of Global Business

2.4 Political Systems

2.5 Legal Systems

2.6 Economic Systems

2.7 Debates and Extensions

Management Savvy

Chapter 3: Emphasizing Informal Institutions: Cultures, Ethics, and Norms

3.1 Where Do Informal Institutions Come From?

3.2 Culture

3.3 Cultural Differences

3.4 Ethics

3.5 Norms and Ethical Challenges

3.6 Debates and Extensions

Management Savvy

Chapter 4: Leveraging Resources and Capabilities

4.1 Understanding Resources and Capabilities

4.2 Resources, Capabilities, and the Value Chain

4.3 From SWOT to VRIO

4.4 Debates and Extensions

Management Savvy

Part 1 PengAtlas

Part 1 Integrative Cases

1.1 Indigenous Reverse Innovation from

the Base of the Pyramid

1.2 The Future of Cuba

1.3 Political Risk of Doing Business in Thailand

1.4 An Institution-Based View of IPR Protection

1.5 Bank Scandals: Bad Apples versus Bad Barrels

1.6 Occidental Petroleum (Oxy): From Also-Ran to Segment Leader

1.7 Ostnor’s Offshoring and Reshoring

Part 2 Acquiring Tools

Chapter 5: Trading Internationally

5.1 Why Do Nations Trade?

5.2 Theories of International Trade

5.3 Realities of International Trade

5.4 Debates and Extensions

Management Savvy

Chapter 6: Investing Abroad Directly

6.1 Understanding the FDI Vocabulary

6.2 Why Do Firms Become MNEs by Engaging in FDI?

6.3 Ownership Advantages

6.4Location Advantages

6.5 Internalization Advantages

6.6 Realities of FDI

6.7 How MNES and Host Governments Bargain

6.8 Debates and Extensions

Management Savvy

Chapter 7: Dealing with Foreign Exchange

7.1 What Determines Foreign Exchange Rates?

7.2 Evolution of the International Monetary System

7.3 Strategic Responses to Foreign Exchange Movements

7.4 Debates and Extensions

Management Savvy

Chapter 8: Capitalizing on Global and Regional Integration

8.1 Global Economic Integration

8.2 Organizing World Trade

8.3 Regional Economic Integration

8.4 Regional Economic Integration in Europe

8.5 Regional Economic Integration in the Americas

8.6 Regional Economic Integration in the Asia Pacific

8.7 Regional Economic Integration in Africa

8.8 Debates and Extensions

Management Savvy

Part 2 PengAtlas

Part 2 Integrative Cases

2.1 Brazil’s Quest for Comparative Advantage

2.2 Twelve Recommendations to Enhance UK Export Competitiveness

2.3 Would You Invest in Turkey?

2.4 The Myth Behind China’s Outward Foreign Direct Investment

2.5 The Korea-US Free Trade Agreement (KORUS)

Part 3 Strategizing Around the Globe

Chapter 9: Growing and Internationalizing the Entrepreneurial Firm

9.1 Entrepreneurship and Entrepreneurial Firms

9.2 Institutions, Resources, and Entrepreneurship

9.3 Growing the Entrepreneurial Firm

9.4 Internationalizing the Entrepreneurial Firm

9.5 Debates and Extensions

Management Savvy

Chapter 10: Entering Foreign Markets

10.1 Overcoming the Liability of Foreignness

10.2 Where to Enter?

10.3 When to Enter?

10.4 How to Enter?

10.5 Debates and Extensions

Management Savvy

Chapter 11: Managing Global Competitive Dynamics

11.1 Competition, Cooperation, and Collusion

11.2 Institutions Governing Domestic and International Competition

11.3 Resources Influencing Competitive Dynamics

11.4 Attack, Counterattack, and Signaling

11.5 Local Firms versus Multinational Enterprises

11.6 Debates and Extensions

Management Savvy 364

Chapter 12: Making Alliances and Acquisitions Work

12.1 Defining Alliances and Acquisitions

12.2 Institutions, Resources, Alliances, and Acquisitions

12.3 Formation of Alliances

12.4 Evolution and Dissolution of Alliances

12.5 Performance of Alliances

12.6 Motives for Acquisitions

12.7 Performance of Acquisitions

12.8 Debates and Extensions

Management Savvy

Chapter 13: Strategizing, Structuring, and Learning Around the World

13.1 Multinational Strategies and Structures

13.2 How Institutions and Resources Affect Multinational Strategies, Structures, and Learning

13.3 Worldwide Learning, Innovation, and Knowledge Management

13.5 Debates and Extensions

Management Savvy

Part 3 PengAtlas

Part 3 Integrative Cases

3.1 Farmacias Similares: Innovating in the Mexican Healthcare Industry

3.2 Wikimart: Building a Russian Version of Amazon

3.3 Business Jet Makers Eye China

3.4 The Antitrust Case on the AT&T–T-Mobile Merger

3.5 Teliasonera’s Alliances and Acquisitions in Eurasia

3.6 China Merchants Group’s Acquisition of the Newcastle Port

3.7 Japanese Multinationals in Emerging Economies

Part 4 Building Functional Excellence

Chapter 14: Competing on Marketing and Supply Chain Management

14.1 Three of the Four Ps in Marketing

14.2 From Distribution Channel to Supply Chain Management

14.3 Triple as in Supply Chain Management

14.4 How Institutions and Resources Affect

14.5 Marketing and Supply Chain Management

14.6 Debates and Extensions

Management Savvy

Chapter 15: Managing Human Resources Globally

15.1 Staffing

15.2 Training and Development

15.3 Compensation and Performance Appraisal

15.4 Labor Relations

15.5 Institutions, Resources, and Human Resource Management

15.6 Debates and Extensions

Management Savvy

Chapter 16: Financing and Governing the Corporation Globally

16.1 Financing Decisions

16.2 Owners

16.3 Managers

16.4 Board of Directors

16.5 Governance Mechanisms as a Package

16.6 A Global Perspective

16.7 Institutions, Resources, and Corporate

16.8 Finance and Governance

16.7 Debates and Extensions

Management Savvy

Chapter 17: Managing Corporate Social Responsibility Globally

17.1 A Stakeholder View of the Firm

17.2 Institutions, Resources, and Corporate Social Responsibility

17.3 Debates and Extensions

Management Savvy

Part 4 PengAtlas

Part 4 Integrative Cases

4.1 ESET: From a “Living-Room” Firm to a Global Player in the Antivirus Software Industry

4.2 Employee Retention and Institutional Change at PIGAMU

4.3 Sino Iron: Engaging Stakeholders in Australia

Glossary

Name Index

Organization Index

Subject Index

Mike Peng, University of Texas at Dallas

Mike Peng is the Jindal Chair of Global Business Strategy at the Jindal School of Management, University of Texas at Dallas. A National Science Foundation (NSF) CAREER Award winner, Professor Peng is a fellow with the Academy of International Business and listed among Thomson Reuters' The World's Most Influential Scientific Minds. His recent research awards include the Journal of International Business Studies Decade Award (2015) and the Academy of Management Perspectives Best Impact Award (2014). He holds a bachelor's degree from Winona State University, Minnesota, and a Ph.D. from the University of Washington, Seattle. Prior to joining UT Dallas, Professor Peng was on the faculty at The Ohio State University, Chinese University of Hong Kong, and University of Hawaii. In addition, he has held visiting or courtesy appointments in Australia, Britain, Canada, China, Denmark, Hong Kong, and Vietnam. This award-winning professor is widely regarded as one of the most prolific and influential scholars in global business, and he has garnered many research grants for his work. The United Nations and the World Bank have cited his work in major publications. Truly global in scope, his research focuses on firms' strategies in diverse regions such as Asia, Central and Eastern Europe, and North America. He has published over 120 articles in leading academic journals and authored five books. Professor Peng has served on the editorial boards of the Academy of Management Journal, Academy of Management Review, Journal of International Business, and Strategic Management Journal. He was the editor-in-chief of the Asia Pacific Journal of Management and is currently a senior editor of the Journal of World Business. Professor Peng is also an active trainer and consultant, and his consulting clients include AstraZeneca, Mass Transit Railway Hong Kong, SAFRAN, Springer, UK Government Office for Science, US Navy, and Texas Instruments.