International Management: Culture, Strategy, and Behavior 11th Edition by Fred Luthans Solution man

Students should consider the pace of globalization as it pertains to social media and the pros and cons of the process.
Students should explore the different ways companies can use social media to support their international strategies and what companies must do to remain competitive in this rapidly changing environment.
Related sites
Facebook: http://www.facebook.com/
Twitter: https://twitter.com/
YouTube: http://www.youtube.com
Google: https://www.google.com
Chapter Outline with Lecture Notes and Teaching Tips
Introduction
Management is the process of completing activities with and through other people.
International management is the process of applying management concepts and techniques in a multinational environment and adapting management practices to different economic, political, and cultural contexts.
International management is distinct from other forms of management in that knowledge and insights about global issues and specific cultures are a requisite for success.
A multinational corporation (MNC) is a firm that has operations in more than one country, international sales, and a mix of nationalities among managers and owners.
Table 1-1 lists the world’s top nonfinancial companies ranked by foreign assets through 2017.
Globalization, coupled with the rise of emerging market MNCs, has brought prosperity to many previously underdeveloped parts of the world.
Trends reflect the reality that firms are finding they must develop international management expertise, especially expertise relevant to the increasingly important developing and emerging markets of the world.
Table 1-2 lists the world’s top nonfinancial companies from developing countries ranked by foreign assets in 2016.
Teaching Tip: The trend toward investing in international markets has not gone unnoticed at many premier universities around the world. An organization called the Network of International Business Schools (https://www.nibsweb.org/) provides a forum for schools with international business programs to discuss their curriculums. Consider visiting this website and giving students some examples of how colleges and universities are integrating the realities of globalization into their business school curriculums.
Teaching Tip: Each year, Fortune magazine publishes a list of the 500 largest global corporations. (https://fortune.com/global500/2019/)  In 2019, the 10 largest global (or multinational) corporations were (1) Walmart, (2) Sinopec Group, (3) Royal Dutch Shell, (4) China National Petroleum, (5) State Grid, (6) Saudi Aramco, (7) BP, (8) Exxon Mobile, (9) Volkswagen, and (10) Toyota Motor.
Globalization and Internationalization
The volume of international trade has increased dramatically over the last two decades.  A number of developments around the world have helped fuel this activity.
Globalization, Antiglobalization, and Global Pressures for Change
Globalization can be defined as the process of social, political, economic, cultural, and technological integration among countries around the world.
Distinct from internationalization which is the process of a business crossing national and cultural borders, while globalization is the vision of creating one world unit, a single market entity.
See International Management in Action: Tracing the Roots of Modern Globalization, summarized at the end of the outline.
Offshoring and outsourcing have combined to dramatically intensify the effects of increasing global linkages.
Offshoring is the process by which companies undertake some activities at offshore locations instead of in their countries of origin.
Outsourcing is the subcontracting or contracting out of activities to external organizations that had previously been performed by the firm.
See: A Closer Look—Outsourcing and Offshoring summarized at the end of the outline.
Proponents believe that everyone benefits from globalization, as evidenced in lower prices, greater availability of goods, better jobs, and access to technology.
Critics disagree, noting that the high number of jobs moving abroad as a result of the offshoring of business services jobs to lower-wage countries does not inherently create greater opportunities at home.
Proponents claim that job losses are a natural consequence of economic and technological change and that offshoring actually improves the competitiveness of American companies and increases the size of the overall economic pie.
Critics point out that growing trade deficits and slow wage growth are damaging economies and that globalization may be moving too fast for some emerging markets, which could result in economic collapse.
Critics argue that when production moves to countries to take advantage of lower labor costs or less regulated environments, it creates a “race to the bottom” in which companies and countries place downward pressure on wages and working conditions.