Global Business Today 2nd edition

Global Business Today is focused on the fundamentals of international business. Not only does this text provide coverage of the strategic imperatives of operating IB out of a small, dependent economy but it also builds a thorough worldwide orientation. In this edition, international business Graduate Attributes have been integrated throughout and there is topical discussion of issues such as the Doha round of trade negotiation, climate change and the rise of China and India. The authors recognise that case studies reinforce relevance and have therefore included either entirely new or significantly revised cases in every chapter. With a concise treatment of the crucial elements of an IB course, Global Business Today is the ideal text for a first subject in international busines

The challenge of defining guanxi in a contemporary business context : a review

Guanxi has become a common term in the wider business environment and has attracted the increasing attention of researchers. Despite this, a consistent understanding of the concept continues to prove elusive. We review the extant business literature to highlight the major inconsistencies in the way guanxi is currently conceptualized: the breadth, linguistic-cultural depth, temporality, and level of analysis. We conclude with a clearer conceptualization of guanxi which separates the core elements from antecedents and consequences of guanxi. Furthermore, we compare and contrast guanxi with western correlates such as social networks and social capitals to further consolidate our understanding of guanxi.

Preparing students for international study : the use of technology

About 1.6 million students currently study outside their home country. Despite this, and the fact that Australia, the United States, the United Kingdom and many of the other host countries of international students are themselves extremely culturally diverse communities, business education remains essentially mono-cultural in form and Anglo American in content. Whilst it is true that these international students may want to understand the "Western" way of doing things, they may not be familiar or comfortable with the processes used to facilitate learning. This paper explores a project undertaken to create a tool that provides essential pre-orientation information and advice to students before they leave home. Where cultural adjustment is required, catching students before departure is a very effective time to introduce key information about lifestyle, culture and approaches to teaching and learning that would assist students with the complex and difficult adjustment to studying abroad, so that they could make a smoother transition to their new place of learning. Welcome to Studying Business at QUT is a Data DVD with 19 short videos capturing a student perspective on life and study. Forty percent of the content is related to living and studying and includes sections on accommodation, lifestyle, food and transport etc., and 60% takes an in-depth look at studying business, featuring students and academics talking about issues such as assessment, academic writing and working in groups. This paper outlines the process of developing the DVD and the range of issues addressed.

Domestic and international innovation partnerships : do they matter for innovation outcomes of South African firms?

This paper studies the impact of the diversity of domestic and international innovation partnerships on the innovation outcomes of South African firms. A number of competing hypotheses are formulated and tested empirically using a sample of South African firms in manufacturing and services by applying Ordinary Least Squares regression analyses. Results show that having an innovation partnership, particularly an international partnership, is beneficial to innovation outcomes. However, it also emerges that too diverse a set of international partnerships is detrimental to innovation outcomes. The paper concludes with a discussion and a number of proposals for future research.

Internet usage, internet intensity and international sales performance SME's : a structural model approach

There has been much written about the Internet’s potential to enhance international market growth opportunities for SME’s. However, the literature is vague as to how Internet usage and the application of Internet marketing also known as Internet marketing intensity has an impact on firm international market growth. This paper examines the level and role of the Internet in the international operations of a sample of 218 Australian SMEs with international customers. This study shows evidence of a statistical relationship between Internet usage and Internet marketing intensity, which in turn leads to international market growth, in terms of increased sales from new customers in new countries, new customers in existing countries and from existing customers.

International entrepreneurial values elicited through repertory test and laddering analysis : an SME, internet-enabled tourism perspective

This study explores the international entrepreneurial values influencing the intensity of Internet use in the internationalization process of small to medium sized enterprises (SMEs), within the Australian tourism industry. The findings point to a relationship between the values of international entrepreneurs and the inclination of the firm to develop and initiate international activity. And so, this study endeavors to offer insight into issues that remain unresolved in existing tourism and international entrepreneurship (IE) literature. Two effective but underutilized qualitative methods were used in this study to identify the values of international entrepreneurs. They are repertory test and laddering analysis.

Internet-enabled international entrepreneurship : a conceptual exploration of the link between a firm’s resource base, dynamic capabilities and international market performance

It has been suggested that the accumulation of valuable resources and capabilities, such as Internet application, is not enough to support a firm’s sustainable competitive advantage, especially for high technology-mediated firms; which often operate in fast changing dynamic environments. While the idea of ‘Internet-enabled resources and capabilities’ has been recognised by RBV theorists, the notion has largely been ignored in conceptual and empirical studies. Given this finding, a conceptual framework is constructed and research issues are then developed in order to focus attention on the relationship between, the Internet and a firm’s resource base, dynamic capabilities and international market performance. We postulate that successful Internet-enabled market performance arises from those international entrepreneurial-oriented firms which encompass: international vision, international business experience, Internet-international marketing capabilities and international networking capabilities. Recommendations for future theory development are presented, along with the implications for international entrepreneurial managers in Australian small and medium sized firms

Complex events in business processes

Flow-oriented process modeling languages have a long tradition in the area of Business Process Management and are widely used for capturing activities with their behavioral and data dependencies. Individual events were introduced for triggering process instantiation and activities. However, real-world business cases drive the need for also covering complex event patterns as they are known in the field of Complex Event Processing. Therefore, this paper puts forward a catalog of requirements for handling complex events in process models, which can be used as reference framework for assessing process definition languages and systems. An assessment of BPEL and BPMN is provided.

Characteristics of immigrant entrepreneurs and their involvement in international new ventures

We studied 561 young firms in Australia to understand the involvement of immigrant entrepreneurs (IE) in international new ventures (INV). We found that IE are over-represented in INV and have many characteristics known to facilitate INV success including more founders, university degree, international connections and technical capability. Our study has implications for immigration policy and economic policy and the efficient use of a nation’s human capital. This research challenges a necessity-based stereotype of immigrant entrepreneurs by identifying areas in which immigrant entrepreneurs have natural competitive advantages over native entrepreneurs. This research makes a contribution to the theory of immigrant entrepreneurship by identifying the significant role of immigrant entrepreneurs in INV and the suitability of immigrant entrepreneurs for the development INV. We inform diverse streams of research in transnational and immigrant entrepreneurship with broader strategic work on the creation of INV.

Domestic and international strategies in the Queensland wine industry

Purpose Over the past decade, the Queensland wine industry has experienced a greater percentage growth than the Australian national average. The aim of the research undertaken for this article is to identify specific national and international strategies that have allowed the industry to achieve this level of growth. Design/methodology/approach The study involved a quantitative survey of all Queensland wineries at the time (n=101), using a five-point Likert-scaled questionnaire with questions developed from the literature, together with a small-scale qualitative survey involving in-depth interviews of winery managers and industry leaders. Findings The findings indicated that key strategies in the domestic sector included a focus on cellar door sales combined with establishing links with the tourism industry, together with an incremental expansion of domestic markets. For the international sector, additional strategies included targeting familiar, psychically-close and niche markets in the initial stages of exporting, as well as taking advantage of firm-specific strengths and managerial competencies. Originality/value Not previously regarded as a major wine producing region of Australia, the Queensland wine industry has received limited attention in the literature, particularly the reasons for its rapid growth in recent years. The article helps to identify the strategies used by wineries in growing the industry.

An entry mode decision-making model for the international expansion of construction enterprises

Purpose – The purpose of this paper is to provide a new type of entry mode decision-making model for construction enterprises involved in international business. Design/methodology/approach – A hybrid method combining analytic hierarchy process (AHP) with preference ranking organization method for enrichment evaluations (PROMETHEE) is used to aid entry mode decisions. The AHP is used to decompose the entry mode problem into several dimensions and determine the weight of each criterion. In addition, PROMETHEE method is used to rank candidate entry modes and carry out sensitivity analyses. Findings – The proposed decision-making method is demonstrated to be a suitable approach to resolve the entry mode selection decision problem. Practical implications – The research provides practitioners with a more systematic decision framework and a more precise decision method. Originality/value – The paper sheds light on the further development of entry strategies for international construction markets. It not only introduces a new decision-making model for entry mode decision making, but also provides a conceptual framework with five determinants for a construction company entry mode selection based on the unique properties of the construction industry.

Practical framework for measuring performance of international construction firms

The internationalization of construction companies has become of significant interest as the global construction market continues to be integrated into a more competitive and turbulent business environment. However, due to the complicated and multifaceted nature of international business and performance, there is as yet no consensus on how to evaluate the performance of international construction firms (ICFs). The purpose of this paper, therefore, is to develop a practical framework for measuring the performance of ICFs. Based on the balanced scorecard (BSC), a framework with detailed measures is developed, investigated, and tested using a three-step research design. In the first step, 27 measures under six dimensions (financial, market, customer, internal business processes, stakeholders, and learning and growth) are determined by literature review, interviews with academics, and seminar discussions. Subsequently, a questionnaire survey is conducted to investigate weights of these 27 performance measures. The questionnaire survey also supports the importance of measuring intangible aspects of international construction performance from the practitioner’s viewpoint. Additionally, a case study is described to test the framework’s robustness and usefulness. This is achieved by benchmarking the performance of a Chinese ICF with nine other counterparts worldwide. It is found that the framework provides an effective basis for benchmarking ICFs to effectively monitor their performance and support the development of strategies for improved competitiveness in the international arena. This paper is the first attempt to present a balanced and practically tested framework for evaluating the performance of ICFs. It contributes to the practice of performance measurement and related internationalization in the construction industry in general.

Internet-enabled tourism entrepreneurs. International entrepreneurial values elicited through repertory test and laddering analysis

Although the tourism industry has been dramatically altered due to the Internet, there has been limited research published about international entrepreneurial values and Internet use in tourism firms. The findings of this study point to a relationship between the values of Internet-enabled international entrepreneurs in small-sized to medium-sized enterprises and the inclination of the firm to develop and initiate international activity. The findings of this study suggest that Internet-enabled tourism entrepreneurs share similar construct values. Two effective but underutilized qualitative methods were used in this study. The first method, repertory test, is an efficient technique for exploring constructs in decision making; the second method, laddering analysis, facilitates understanding of the perceived consequences and personal values guiding behaviour.

Exploring the international market selection of small to medium sized enterprises

Research into the international market selection (IMS) of small to medium sized enterprises (SMEs) commonly identifies psychic distance and networks as being the most important determinants of a firm’s IMS. Whether regional factors, such as bilateral and multilateral regional integration, are important as determinants of IMS is not well understood. This paper utilises a multiple case study method through in-depth interviews to investigate, in the context of the current business environment, how important regionalisation, psychic distance and networks are as determinants of IMS among SMEs in the food and beverage industries within Australia and Malaysia. The study found regional considerations to be important to the IMS of Malaysian but not Australian firms, while psychic distance was considered an important determinant on IMS by only half of the sampled firms. The role of networks, however, was considered the most important determinant of IMS among all the sampled firms.

An examination of the critical resources and internet capabilities for leveraging global performance in international entrepreneurial firms

This PhD research investigates the critical resources and Internet capabilities utilized by firms for leveraging global performance in entrepreneurial firms. Firm resources have been identified as important firm assets, which contribute to the firm's competitive global position. The Internet is a critical resource for a new generation of small and medium sized enterprise (SME) in pursuing international opportunities. By facilitating international business, the Internet has the ability to increase the quality and speed of communications, lower transaction costs, and facilitate the development of networks. Despite the increasing numbers of firms utilizing the Internet to pursue international opportunities, limited research remains. Adopting multiple case study methodology and structural equation modelling, the research identified the firm-level resources, which coincide with capabilities in a model predicting how international performance in firms is achieved.