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Week 1 of BUS 300 Prof Buch

by: Jared Notetaker

Week 1 of BUS 300 Prof Buch BUS 300

Marketplace > La Salle University > Business > BUS 300 > Week 1 of BUS 300 Prof Buch
Jared Notetaker
La Salle
GPA 3.5

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About this Document

Notes complied up from the first week
International Business
Dr. Joshua Buch
Class Notes
25 ?




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This 2 page Class Notes was uploaded by Jared Notetaker on Saturday February 13, 2016. The Class Notes belongs to BUS 300 at La Salle University taught by Dr. Joshua Buch in Winter 2016. Since its upload, it has received 10 views. For similar materials see International Business in Business at La Salle University.

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Date Created: 02/13/16
Chapter 3 Political Economy and Economic Development 02/09/2016 ▯ Education influences Economic Development  Countries that invest in education have higher growth rates because the workforce is more productive. o Counties in Southeast Asia have offset their geographical disadvantages by investing in education  Indonesia, Malaysia, and Singapore ▯ Political Economy is Changing  Since 1980’s two trends have emerged: o Democratic Revolution (replacing totalitarian regimes)  Totalitarian regimes failed to deliver economic progress to vast bulk of their populations  Economic advances have lead to prosperous middle and working classes who have pushed for democratic reforms  More committed to free market capitalism o Move away from centrally planned and mixed economies  Command and mixed economies failed to deliver the sustained economic growth achieved in market-based countries  Shifted towards the market-based model ▯ How Can Managers Determine A Market’s Overall Attractiveness  Overall attractiveness of a country as a potential market and/or investment site for an international business depends on balancing the benefits, costs, and risks associated with doing business in that country  Benefit-cost-risk trade-off is likely to be most favorable in politically stable developed and developing nations that have free market systems and no dramatic upsurge in either inflation rates or private sector debt  Formula of attractiveness: o Benefits + Costs + Risks = Overall Attractiveness  Benefits:  Size of Economy  Likely Economic Growth  Costs:  Corruption  Lack of infrastructure  Legal Costs  Risks:  Political Risks: Social Unrest/Anti-Business Trends  Economic Risks: Economic Management  Legal Risks: Failure to Safeguard Property Rights ▯ Cultural Differences Affect International Business  Understanding and adapting to the local cultural is important international companies o ▯


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