International Business (5)

International Marking:
Unique factor: political, culture, legal system, economic, distribution
4P: Product, Pricing, Promotion, Place
Product: Legal issues, culture perception (use), economic, brand name
Pricing: standard, two tiers, markinting
Promotion mix: advertising, personal sales, promotions, public relations
Place (distribution): length & step, amount of development, v-integration, direct sale
Operations management:
transforming input to output, using technology to create value.
value: cost, feature, durability/reliability, standard/customized, centralized/decentralized
Operations issues:
1. Supply chain:v-integration, steps, make or buy, risk-capital, technology, control, flexibility
2. location: country factor(resource, infrastructure) , product factors(value to weight, efficient size, customer feedback, and cycle time)
3. logistics (distance, safety, needs)
Service business:
intangible, not storable, customer usually participates(capacity plan, location plan, facilities plan, operations scheduling), downstream business, readiness to server.

International Financial Management:
1 choice of currency (hard, soft), 2. credit check-risk remedies, 3. Method of payment (pay in adv. open account, doc collection, letter of credit, cc, countertrade)
Manage working capital: 1 minimize balance, 2. min conversion cost, 3. min exchange risk.
Transaction exposure:1. go naked, 2. forward contracts, 3. option contracts, 4. offsetting assets.
Accounting:
FASB, GAP, SEC.
issues: asset evaluation, taxation, reserves, capitalization of leases &R&D, consolidation.
Transfer pricing:avoid taxes, repatriation limits, tax heavens, foreign sale corp.
Human Resource:
Problems: cultures, economic, legal systems.
PCN: parent country national, expatriate, trust, CEO
HSN: host country national
TCN: third
Labor relations: trends, cultural, political, national union, international Union
Industry democracy: collective bargaining, codetermination, workers councils, shop floor participation, employee compensation.