CHAPTER 5 Ethics and Social Responsibility in International Business Chapter Objectives After studying this chapter‚ students should be able to: 1. Describe the nature of ethics. 2. Discuss ethics in cross-cultural and international contexts. 3. Identify the key elements in managing ethical behavior across borders. 4. Discuss social responsibility in cross-cultural and international contexts. 5. Identify and summarize the basic areas of social responsibility. 6. Discuss how organizations
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International trade is the exchange of capital‚ goods‚ and services across international borders or territories. Import – the purchase of good or service from another country. Export – the sale of goods or service to another country. We normally think of goods being shipped between countries‚ but for services that is not necessarily true. Goods( visible):manufacturing‚ mining‚ agricult.products. Services (invisible): banking‚ tourism‚ education‚ construction. Travel and tourism are large categories
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Homework Chapter 1 4. You win $100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the 100$ now? Answer: By spending the money right away the opportunity cost is 5 percent of 100 dollars that is 5 dollars plus the 100$ itself. So the total opportunity cost is $105‚- 5. The company that you manage has invested $5 million in developing a new product
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5.3. A foreign exchange trader with a U.S. bank took a short position of £5‚000‚000 when the $/£ exchange rate was 1.55. Subsequently‚ the exchange rate has changed to 1.61. Is this movement in the exchange rate good from the point of view of the position taken by the trader? By how much has the bank’s liability changed because of the change in the exchange rate? |R1- | | | | | |
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strategies were shaped by the trade-off between opportunity and risk. Three broad environmental factors determined the trade-off. The first was the prevailing political economy‚ including the policies of both host and home governments‚ and the international legal framework. The second was the market and resources of the host country. The third factor was competition from local firms. The impact of these factors on corporate strategies is explored‚ as shown in Fig. 1‚ during the three eras in the modern
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Economics Answers Define the following terms: 1) Public goods are goods that when produced can be freely consumed by anyone‚ for example the justice system. They are made up of the following goods‚ non-exclusive and non-rival. Non-exclusive goods are goods that people cannot be excluded from consuming‚ it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay‚ for example public TV. Non-rival goods or
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rationale for allowing two integrated resorts to be built in Singapore. Why was there this change in policy? Question 2: Explain the economic impacts of the integrated resorts. Expected Economic Benefits from Integrated Resorts When the idea of building Integrated Resorts in Singapore was first introduced to the citizens‚ the government measured the expected economic benefits and social problems the Integrated Resorts would bring about. After much consideration‚ the government proceeded to build
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Department of Economics Compiled by Prof E Ziramba INTERNATIONAL TRADE Only study guide for ECS302-E UNIVERSITY OF SOUTH AFRICA PRETORIA © 2010 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk‚ Pretoria ECS302E/1/2011 – 2013 iii ECS302-E/1/2011-2013 CONTENTS Page 1 1 1.1 1.2 1.3 1.4 1.5 1.6 INTRODUCTION .......................................................................................................
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BRIBERY SCANDAL AT SIEMENS AG Abstract: This case discusses the bribery scandals that were unearthed at Siemens AG (Siemens) in 2006 and 2007. There were a series of scandals that involved some of the company’s employees bribing foreign officials to gain contracts and creating slush funds for this purpose. In another case‚ the company was accused of bribing labor representatives on the supervisory board in order to gain their support for its policies. After the German authorities conducted raids
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Maximum Marks: 75 INTERNATIONAL MARKETING (Specialization: Marketing) SUBJECT CODE – INSTRUCTIONS: i) You have to attempt the questions as per the instructions for this paper. ii) Carefully note the marks for each question. iii) Write legibly and keep the length of the answer as per the weightage (in terms of marks) assigned to each question. DONOT be unduly short
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