跨国公司管理1

CHAPTER1GlobalizationandRegionalEconomicIntegrationINTRODUCTIONTransnationalCorporationanenterprisesuchasone“whichcontrolsassets,factories,mines,salesoffices,andthelikeintwoormorecountries.”In1973anenterprise(a)comprisingentitiesintwoormorecountries,regardlessofthelegalformandfieldsofactivityofthoseentities,(b)whichoperatesunderasystemofdecision-makingpermittingcoherentpoliciesandacommonstrategythroughoneormoredecision-makingcenters,(c)inwhichtheentitiesaresolinked,byownershiporotherwise,thatoneormoreofthemmaybeabletoexerciseasignificantinfluenceovertheactivitiesoftheothers,and,inparticular,toshareknowledge,resources,andresponsibilitieswithothers.In1984OurdefinitionofTNCsAnenterprisehassubstantialdirectinvestmentinforeigncountriesandactivelymanagesthoseoperationsandregardsthoseoperationsasintegralpartsofthecompanybothstrategicallyandorganizationally.TNCsManagementFormulationofstrategiesandmanagementsystemstotakeadvantageofinternationalopportunitiesandrespondtointernationalthreatsTNCsintheglobaleconomy1.TheuniverseofTNCsislarge,diverseandexpanding.2.SomeTNCsarebiggerthancountries.3.ThelargestTNCsremaingeographicallyconcentratedinafewhomecountries.Thedegreeoftransnationality–ameasureoftherelativeeconomicimportanceofforeignaffiliatesintotaleconomicactivityTheTransnationalityIndexiscalculatedastheaverageofthefollowingthreeratios:foreignassetstototalassets,foreignsalestototalsalesandforeignemploymenttototalemployment.TransnationalityIndexTNIOthermeasuresoftransnationalityTheInternationalizationIndex(II)istheratioofaTNC’sforeignaffiliatestototalaffiliatesTheGeographicalSpreadIndex(GSI),iscalculatedasthesquarerootoftheInternationalizationIndexmultipliedbythenumberofhostcountries.Whatisglobalization?TheshifttowardsamoreintegratedandinterdependentworldeconomyTwocomponents:TheglobalizationofmarketsTheglobalizationofproductionGlobalizationofMarkets“Mergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplace.”Theneedsofcustomersformanyproductsandservicesaregrowingmoresimilar.Andcustomerssearchtheworldfortheirsuppliesregardlessofnationalboundaries.Manyfirmsofferastandardizedproductworldwide.TheLargestGlobalMarketsNotConsumerGoodsButIndustrialGoodsandMaterials•Commoditiessuchasaluminum,oilandwheat.•Industrialproductssuchasmicroprocessors,aircraft.•FinancialassetssuchasU.S.TreasurybillsandEurobonds.GlobalizationofProduction“Thesourcingofgoodsandservicesfromlocationsaroundtheglobetotakeadvantageofnationaldifferencesinthecostandqualityoffactorsofproduction(labor,energy,landandcapital).”ManymuchsmallerfirmsarealsogettingintotheglobaldispersalofproductionanddesignaswellasgiantssuchasBoeing.Tolowertheiroverallcoststructureand/orimprovethequalityorfunctionalityoftheirproduct.“GlobalProducts”GlobaldriversTwomacrofactorsthatunderlietrendtowardsgreaterglobalizationDeclineintradeandinvestmentbarriersGlobalizationofmarketsandproductionhasbeenfacilitatedbyreductionintradebarriersandremovalofrestrictionstoforeigndirectinvestment.TechnologicalchangesMicroprocessorsandtelecommunicationsTheinternetandworldwidewebTransportationtechnologyImplicationsforProductionandMarketGlobalizationProductiondispersedtoeconomicallocationsduetotransportationandcommunicationadvances.NewmarketsopenedthroughJetaircraftmovepeopleandgoods.Globalmediacreatingaworldwideculture.Globalizationdebate-ProLowerpricesforgoodsandservicesEconomicgrowthstimulationIncreaseinconsumerincomeCreatesjobsCountriesspecializeinproductionofgoodsandservicesthatareproducedmostefficientlyGlobalizationdebate-ConDestroysmanufacturingjobsinwealthy,advancedcountriesWageratesofunskilledworkersinadvancedcountriesdeclinesCompaniesmovetocountrieswithfewerlaborandenvironmentregulationsLossofsovereigntyEffectsonManagersGlobalization:Pros&ConsGreatopportunitiesformanagers.Increasedrevenueopportunitythroughglobalsales.Reducedcostsbyproducingin‘lowcost’countries.Managersnowfaceamoredynamicandexcitingjobduetoglobalcompetition.Shouldvaryitspracticescountrybycountry.Mustworkwithingovernmentregulations.CurrencyconversionpresentsuniqueproblemsRegionalEconomicIntegrationRegionaleconomicintegrationreferstotheprocesswherebycountriesinageographicregioncooperatetoreduce,andultimatelyremove,tariffandnontariffbarrierstothefreeflowofgoods,services,andfactorsofproductionbetweeneachother.LevelofEconomicIntegrationFreeTradeAreaCustomsUnionCommonMarketEconomicUnionPoliticalUnionEconomicIntegrationFreeTradeAreaAllbarrierstotradeamongmembersremoved.Eachcountrycandetermineowntradepoliciestowardnonmembers.CustomsUnionEliminatesbarriersamongmembersandhasacommonexternaltradepolicy.CommonMarketAllowsfactoroftheproductiontomovefreelybetweenmembers.EconomicUnionNobarriersamongmembers,commonexternalpolicy,commonmonetaryandfiscalpolicy,harmonizedtaxratesandcommoncurrency.PoliticalUnionHasacoordinatingbureaucracyaccountabletoallcitizens.CaseForRegionalIntegrationanattempttoachieveeconomicgainsfromthefreeflowoftradeandinvestment.Theirpolit