bus 300 week 1 notes
bus 300 week 1 notes BUS 300
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This 2 page Class Notes was uploaded by Jared Notetaker on Monday February 15, 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: 02/15/16
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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