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International Business, 16th Edition
Authors: by John D. Daniels (Author), Lee Radebaugh (Author), Daniel P. Sullivan (Author)
International business through theory and practice
Balancing authoritative theory and meaningful practice, International Business engages readers on the subject of conducting business in international markets. The authors’ descriptions and ideas of international business are enhanced with contemporary examples, scenarios, and cases that help readers effectively apply what they’ve learned. Now in its 16th Edition, International Business remains one of the best-selling and most authoritative international business texts available. As rigorous and practical as ever, this edition remains current through updated author-¿written cases, including seven entirely new cases, streamlined writing, and expanded coverage of relevant global changes.
PREFACE
This textbook is one of the best-selling U.S. and worldwide international business (IB) textbooks. Widely used in both undergraduate and MBA level courses, this text has had authorized translations into Albanian, Chinese, Macedonian, Russian, Spanish, Korean, and Thai. Its first edition in 1976, according to many professors, defined the IB field. Its subsequent 14 editions have set the global standard for
studying IB’s environments and operations. Students, faculty, and managers have praised our text for its compelling balance between rigorous, authoritative theory and meaningful practice within the context of a fresh, current analysis of IB. The elements of success that have driven this performance anchor our efforts to make this 16th edition the best version yet. We believe these efforts result in a textbook that
provides you and your students the best possible understanding of what is happening and is likely to happen in the world of business.
WHAT’S NEW TO THE Sixteenth Edition?
Ongoing trends and new development in the global business environment called for us to rethink and revise our interpretations of the environments of operations of international business. Incorporating the corresponding changes convinced the publishers and the authors of the usefulness of publishing a 16th edition.
• Global Changes
IB, probably more so than any other subject, needs updating because of the number of and rapidity of global changes. The period since our last edition was no exception.
Among the many changes we have referenced in our text are the spread of mosquito borne epidemics (Zika, Ebola, dengue fever, and yellow fever); changes in national borders (e.g., Crimea now a part of Russia rather than the Ukraine); the rise of ISIS and its extended terrorism; the expanding scale and scope of technology; oil technology that has altered global supply locations and prices; the evolving role of Bitcoins for international currency exchange and investment opportunities; the emergence of disruptive technologies such 3-D printers, robotics, and artificial intelligence; the opening of U.S.–Cuban diplomatic exchanges; the advent of negative interest-rate policies in many Western markets; the termination of an embargo on Iran; the near breakup of certain countries (e.g., the United Kingdom and Spain); the use of corporate inversions to reduce taxes; ongoing ups and downs by prominent emerging markets; accelerating sophistication of communication systems; decreasing degrees of political and economic freedom throughout the world; greater agreement that the global climate is warming; the game changing implications of social media; an almost unprecedented refugee movement into Europe; and greater support in many countries for more national sovereignty leading to the possible breakup of regional economic groups.
• Theories and Evidence to Explain IB and Globalization It is now over 40 years since we started writing this text’s first edition. We can remember when the Academy of International Business (AIB), the main IB academic organization, attracted fewer than 40 attendees for its annual meeting; now it routinely draws more than a thousand. Journals with an emphasis on international business were virtually nonexistent; thus, the few people working directly in the field had to depend on discipline- and functional-based journals as outlets for their research. We all know how this has changed, which has, on the one hand, helped us to understand the global business environment in innovative, exciting ways. Nevertheless, the expanding scale of globalization and IB growth fuels such an abundance of published materials that academicians have had to specialize in narrower areas to stay abreast of relevant research. The growth has also created a challenge for authors, such as us, to keep sufficiently up to date on the breadth of research being published on all the functional and disciplinary topics we cover in an introductory text. We are the first to admit that we cannot, but, at the same time, when we have revised for each new edition, we have discovered work that goes well beyond a slight movement in existing knowledge frontiers. It is gratifying for us to delve deeper into emerging trends such as those we described above, and thus we have added significant new material to the 16th edition.
• Reduced Length Over the years, we received sporadic objections to the length of our text. And complicating matters was the sense that as the text expanded, students increasingly preferred learning in shorter, focused bursts. Hence, we set a goal of reducing the text length by 200 pages without sacrificing content, coverage, or quality; we more than met our goal. We did this partially by shifting end notes to an easily accessed online location, removing all cartoons because they did not sufficiently enhance students’ learning, and reducing tables of data that quickly became obsolete. However, to our surprise, our biggest reduction by far was from tightening our prose.
Completing chapters very quickly to reach a deadline for a two-year cycle had caused us to be much too wordy and to lead us to undue redundancy among our chapters. We quickly learned that reducing 200 pages was more time consuming than adding 200, but we feel that the text is now far more engaging, interesting, and readable.
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