JIBS Silver Medal

Dear Colleagues
I am pleased to have been selected for the 50 Year JIBS Silver Award. Here is the letter of notification.

As Managing Editor of JIBS, it is my great pleasure to inform you that the AIB Executive Board has awarded you the JIBS Silver Medal, as a formal recognition of your intellectual contributions published in the journal.  More specifically, the Silver Medal has been awarded to a small number of IB scholars who have published at least 5 significant papers in JIBS during the first 50 years of its existence (we excluded book reviews, as well as other more minor contributions such as letters or short syntheses of papers in introductions to special issues).

The Silver Medals will be given to the Awardees at the AIB Conference in Copenhagen in June 2019.  

Please do let me know at your earliest convenience whether you can attend the JIBS celebration event on Tuesday, June 25, and please do include Dr. Ayesha Malhotra (ayesha.malhotra@haskayne.ucalgary.ca), our associate for this special occasion, in your response.  All the details of the event are provided in the attachment to this email.

I look forward to seeing you all in Copenhagen!

With best wishes,

Anne

Anne Hoekman

Managing Editor

Journal of International Business Studies

www.jibs.net

History does not always tell the Future

Historically. increased international trade activities are often linked to the growth of a country. National power in the world was often the result of creating new markets and trade. For example, the Roman Empire achieved immense growth through the linkages of business rather than the marching of legions and warfare. Many economic successes also occurred when previously closed economies embraced international trade like South Korea in 1960s and China in 1980s.

So far, in this century, more than a billion people around the world have been lifted out of poverty by the power of international trade. International competition has greatly stimulated innovation and productivity. 

However, world trade is in flux today. Conflicts have emerged over market instabilities and insecure trade structures which have led to major inequities.  No longer are societies certain that an increase in trade resolves current economic and societal shortcomings. Will a better life result from simply doing more of what was done in the past?  

Globally some policymakers intend to ride inequities to the hilt. They  give preference to the continuity of rules over the adjustment to reality. For them tradition is the overriding decision tool. 

But, what happens when the fundament has changed? When a volcano erupts and sends a stream of glowing lava flowing down the mountain,  the affected villages are no longer fit for shelter. Today, President Trump reflects the need for new actions in a new era. He is positively  willing to disregard the past when its performance distorts the playing field. The consequences have been important. 

In 2017, the U.S. started to renegotiate its trade agreements with Canada,  Mexico, and with South Korea. It questions the World Trade Organization (WTO) and  challenges the whole trade administration system. In addition, a series of import tariffs came into effect. All these steps indicate a better understanding of shortcomings in trade and a quick-footed willingness to precipitate a curative impact. President Reagan already indicated that “all politics are local”. That principle is expanded into a new approach which states “timing matters for change”.

Continuing large trade imbalances and growing foreign investment control are sources of dissatisfaction. Domestic producers fear to be

squeezed  by global rivals. New production technology, such as product printing, makes manufacturing history obsolete. Processes also matter. China has taken full advantage of the trade infrastructure built by the U.S. and the EU only to subsequently challenge the status quo. The United States’ share of world exports has declined precipitously from 25 percent in the 1950s to less than 9 percent in 2017. The U.S. share of world imports now accounts for 13 percent of world imports. When compared to its exports, the United States clearly has an excess import consumption.  

Reshaping a global system is tough work. Since 1945, the United States has been at the center of the global economy. In its competition with the socialist system market orientation has clearly been won by America. Encouraging now other nations to also help guide the world to better lives does not represent an abdication of leadership. The United States’ willingness to let others participate  in the design and implementation of crucial adjustments demonstrates a willingness to permit others to learn, an encouragement of  self determination, and a great spirit of security and comfort with  change 

The debates over international trade might rumble on for years. But we already know that trade policy must become more domestically oriented while domestic policy must become more international in vision. Doing so, must shape the future.

Professor Czinkota (czinkotm@georgetown.edu) teaches international marketing and trade at Georgetown University and the University of Kent in Canterbury. His latest book is ‘In Search for the Soul of International Business’ 2019, Businessexpertpress.com 

Cambridge/Kent/Czinkota Competition for excellence in International Business Case writing

INVITATION TO PARTICIPATE

Cambridge/Kent/Czinkota Competition

for excellence in International Business Case writing

Applying:

Case submitted by faculty and students, can cover the entire spectrum of the International Business sphere, covering, for example, but not limited to, Trade and Investment Policies, the International Business Environment or Strategy and Operations. The deadline for submission of the previously unpublished final case, including instructor’s solution materials, is April 15, 2019.

Length of submission: Less than 3,000 words (the solution material does not count against this limit)

Please submit to Prof. Michael Czinkota M.Czinkota@Kent.ac.uk

Cases will be evaluated and selected by an international Jury whose decisions are final.

Prizes:

Winners receive a Certificate and will be entered in the Kent Business School Book of Honor

Prizes are:

🏆 First Prize: £ 500

Second Prize: £ 250

Third Prize: £ 125

Prizes 4-12: £ 50

Winning cases are also eligible for publication in the forthcoming Cambridge Press book by Prof. Michael Czinkota, Prof. Ilkka Ronkainen and Prof. Suraksha Gupta

If you have any questions, comments, or concerns, please contact M.Czinkota@Kent.ac.uk

Douse The Wildfires

Public information should be both accurate and interesting. When there is a conflict between the two, many information users prefer an outcome based on truth. Lately, there have been growing scandals which taint media considered traditionally to be of quality.

Some believe that this is a problem only encountered by President Trump or the United States. Far from it, we are not alone! From around the world one learns about misdirections and shortfalls in media accuracy. For example, late last year the German magazine Der Spiegel had to admit that its key investigative reporter, Mr. Class Relotius, had plainly fabricated stories in many of his articles over the past seven years. The individuals he described or allegedly interviewed either did not exist or had not made the attributed statements. Relationships were mischaracterized and the context reported was either falsely described or non-existent. 

As the most important information source for many users, the media must take responsibility for the ethical and honorable delivery of fact-based and reliable messages. The opportunity is there. New information gathering capabilities can be a tool to improve quality.

Continuing poor work will further erode the public information space. For example, one can easily imagine a land without newspapers. Already, their role in the wrapping of fishes has been severely diminished.

The issue is of particularly great importance to the global investment community. Poor information leads to increased uncertainty and risk. In 2013, stock markets lost $130 billion in two minutes after AP posted false news about an explosion in the White House that was said to have injured President Obama. In the same year, the Chinese construction company Zoomlion’s share price tumbled 26.9% on the Hong Kong stock exchange when the state-owned CCTV network published a series of fake stories by a corrupted reporter.

For individual investors, wrong news will hurt their confidence in products or companies which they might use or invest. In consequence, lack of investment may lead to great opportunities missed.

In the long run, people have to learn, absorb, understand and react to surprising political results or sudden economic unrest. Life will continue to present spectacular events like the 2016 U.S. presidential election or Brexit, which can lead to confusing flows of information. Crossnational effects can be triggered by national inaccuracies. In German’s “Spiegelgate”, fake pieces largely focused on U.S. policies and segments of the American population. There were stories about U.S.-Mexican border conflicts with made-up “Mexicans Keep Out” signs, which may have intensified local disagreements.

Media worldwide need to regain public trust. Fact-checking must be improved. Credibility requires more transparency and a greater indication of global linkages. Also, the tasks of gathering and distribution should be viewed with appropriate humility.

It will be difficult for media both old and emerging to maintain and re-build credibility.  When President Trump tweets about an informational heap of bovine waste, he clearly reflects the risk of a decline comparable to that of the typewriter and medical application of leeches. Media need a commitment to honesty, accountability, transparency and personal responsibility, also for its global communication, in order to offer a safe and reliable public information space.

Professor Michael R. Czinkota (czinkotm@georgetown.edu) teaches international marketing and trade at the University of Kent in Canterbury and Georgetown University. His latest book is “In Search For The Soul of International Business”, (businessexpertpress.com) 2019.

A SUMMER IN CANTERBURY

Scholars typically spend their summers at interesting and learn-worthy organizations. For my summer this year such destination will be the University of Kent in Canterbury, UK. There I will participate in several events. I will be help coordinate a university-wide international business seminar: Global Business in a Dynamic Environment.

The Global Business in a Dynamic Environment course (details found here) provides a comprehensive and up-to-date overview of international business and the institutions involved in the process. Although there is an underlying universality to the basic principles of business administration, it is in the application of these principles that people in international business encounter unique problems. Theory will be emphasized for a normative understanding; practical aspects are designed to show the relation of theory to practice. We will teach each other and learn from each other by the use of analogies, parables, and examples – which will help us understand and remember, which, in an era of the British Exit from the European Union has taken on major significance.

I encourage interested students and scholars to attend those events. It will allow to make lasting connections with students from around the world, studying a range of subjects but sharing personal enthusiasm. Guided by leading professors from around the world such as a large team from the University of Kent, German, and the United States, Mark Casson England, Johannes Harl, Germany, Thomas Cooke, Michael Czinkota, Gary Knight and Charles Skuba of the United States, will enable participants to gain a deeper understanding of other cultures, develop new network, make lifelong friends from a wide variety of backgrounds and benefit from globally-renowned academic excellence. Stay tuned for more information!

The teaching team members are

Prof. Martin Meyer, Kent
Prof. Michael Czinkota , Kent and Georgetown
Prof.Gary Knight, Williamette
Prof. Zaheer Khan, Kent
Prof. Rudiger Kaufmann, Mannheim
Prof. Valbona Zeneli, Marshall Center
Mr. Adam Smith, Kent

The Course schedule

So that’s my summer. How about yours? If you want to join me and a group of distinguished colleagues please contact Floortje Hoette at f.hoette@kent.ac.uk to sign up for the course/seminar or request more detailed information about the summer events.