This is unit 1, which is also chapters 1 and 2. I have made notes for semester test one and I made very visual summaries of the notes for semester test 2. Although they look very summarised, I have used past papers, lecture slides, lecture notes, the textbook and online notes to create these aesthe...
External Forces
Variables that influence a firm’s ability to do
Economic business. (National income, unit labour cost, and
personal consumption expenditure.)
Variables such as interest rates, inflation rates, and
Financial
taxation.
Characteristics and distribution of the human
Socioeconomic
population.
Elements of culture that are important to
Sociocultural international managers. (Attitudes, beliefs, and
opinions)
Labour: Composition, skills, and attitudes of workers.
Elements of nature such as topography, climate, and
Physical
natural resources.
Elements of the nations’ political climates that are
Political: important to international managers. (nationalism.,
forms of government, and international firms)
The many foreign and domestic laws governing how
Legal
international firms must operate.
Technical skills and equipment that affect how
Technological
resources are converted to products.
Kinds and numbers of competitors, their location,
Competitive:
and activities
National and international agencies that distribute
Distributive
goods and services.
Every Fast Success Story Causes People
Listening To Taylor CDs
, Types of External Environments
Domestic Foreign International
Business that is carried The operations of a A company with
out across national company outside its home/ operations in multiple
boarders domestic market nations
All the uncontrollable forces
originating in the home Consists of the interactions
country surround and between the domestic and
influence the life and foreign environmental
development of the firm. forces, as well as
Refers to all the uncontrollable
interactions between
forces originating outside the
Managers are most familiar foreign environmental
home country that surround
with these domestic forces. forces of 2 countries, such
and influence the firm.
Being domestic forces, as when an affiliate
however, does not prevent (associate) in one country
their affecting foreign does business with a
operations. (Ex. Load customer in another.
shedding in our country)
They operate differently for
several reasons:
1. Although forces in the
domestic and foreign Decision-making is more
environments are complex in the
identical, forces have international environment
different values as there are many sets of
2. Forces can be difficult to forces and extreme
assess, especially legal differences among them.
and political forces.
3. The forces are
interrelated
Self-reference criterion: is
an unconscious reference
to your own cultural values
when judging behaviours of
others in a new and
different environment.
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