This book presents “the best of 2016” about the core issues of international business, explained and analyzed within 750 words. It is hardly possible to read everything and be informed about what is happening in this world. This compilation of articles and editorials by Professor Czinkota, which were published in news media worldwide, contains thoughtful insight into key dimensions of international business and trade. The vast array of themes—ranging from terrorism to business strategies in developing countries—reflect how international business reaches every corner of our world today. This volume makes much of this complexity more accessible by presenting the topics, its analysis and controversies, and possible new directions in a few pages—just enough for bed time reading so that when you wake up, you will be the smartest person in the room.
Only the first two articles introducing the sections are longer, since they set the stage for everything subsequent. Normally people expect medicine to taste bad. Insofar one might think of this first longer article; however, the article is fun to read and gives a general overview which will make you understand future issues.
Also, each analysis is accompanied by a cartoon, developed by Czinkota and award-winning cartoonist David Clark. Through the parsimonious use of the word and the frequent offer of insightful drawings, we hope to enhance understanding and appreciation of proverbial pictures and a thousand words on the international trade and investment environment.
We live in a global community in many ways; however, many sectors need to catch up to these approaches—such as international marketing and trade policies. In addition, an international market only functions through trust and relationships between merchants and companies. In spite of better communications across great distances, business relationships are still as important as ever, and will not be disappearing any time soon.
Political and international affairs directly impact every form of business. Just think the human condition on earth as a sphere where one slice is business, both affecting and being affected by other dimensions, be they medicine, religion, or thermodynamics. Readers are bombarded with a colossal volume of reports and articles, which can be overwhelming. Therefore, in spite of progress in transparency, it becomes increasingly burdensome to understand the effects of issues in a global market. This is why we offer these short commentaries, editorials, and cartoons to encourage comprehension of and thinking about the most important and relevant topics today without a total issue immersion for which most of us have too little time.
Most people fail to recognize what role they play in international trade. The vast majority of purchases made by consumers, from household goods to clothes to automobiles, incorporate parts that originate from different nations. This not only illustrates how integrated the global economy has become, but also shows how international trade leads to greater efficiency. As nations continue to export goods that they specialize in, the input cost for nearly every good and service imaginable declines. In addition, advances in shipping allow consumers to make international purchases online and have it sent directly to their home. This provides a broader array of options, leading to a more satisfied consumer who has money left over to pay for new or unexpected expenses, say, a boat which enriches life.
People enjoy the idea of free trade; however, many do not accept the consequences that come along. Internationalization denotes the ability to purchase satisfactory goods for a very low price. However, these goods will often come from other nations, which lead to a lower demand for the local industry output. This is a trade-off that comes with the reality of free trade. In addition, the role of the government has come into question in recent years, especially with regards to downturns in the economy. Some insist that government should intervene to help create jobs, while others argue that the government has already overstepped its boundaries in terms of everyday individual lives. The articles of this book touch on the natural ebb and flow in every economy and how set-backs actually bring about innovation and often inspire new business policies explained for increase efficiency. Recent recessions do not signal a decline on the world stage, but rather an opportunity to move forward with new determination and pursue different frontiers. At the same time, if we demand that government provides the greatest protection possible, then we have to be willing to give up a certain amount of privacy, as is discussed in the section about economic growth and freedom.
This book outlines some of the far-reaching consequences of international conflict and how marketing and trade can be tools to deal with these crises: From the refugee crisis, spy wars, to the ongoing conflict of between Russian and Ukraine, and global terrorism, all of these events cause people to divert investments elsewhere which raises the price of global trade. The second section of the book is dedicated to international innovations, such as strategies in developing countries and emerging concepts such as the Honorable Merchant. In its third part, the book elaborates how international marketing and trade play essential roles in strengthening freedom—in the United States and abroad. The last section shows the reader how the strong effects of international marketing and trade, from health care to the Super Bowl.
In closing, this book outlines important aspects of international business, and often does so with a bit of humor and in an entertaining manner. Do read this book, it will be fun, easy, and worthwhile.