critical thinking and discussion questions international business

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7.5 End-of-Chapter Questions and Exercises

These exercises are designed to ensure that the knowledge you gain from this book about international business meets the learning standards set out by the international Association to Advance Collegiate Schools of Business (AACSB International, 2010). AACSB is the premier accrediting agency of collegiate business schools and accounting programs worldwide. It expects that you will gain knowledge in the areas of communication, ethical reasoning, analytical skills, use of information technology, multiculturalism and diversity, and reflective thinking.

Experiential Exercises

(AACSB: Communication, Use of Information Technology, Analytical Skills)

You work for a global auto-parts company. Describe how you would use the spot and forward markets to manage the potential exchange rate risk between the countries from which you import (buy) components and the countries in which you sell auto parts. Select any three currencies to use in your discussion.

Access the following URL from fxstreet.com: http://www.fxstreet.com/rates-charts/forward-rates . Use it to determine if forward or futures contracts are available in all the currencies you selected.

• You are working for the CFO of a global food-products company with extensive operations in North America, South America, Europe, Africa, and Asia. The firm is creating a new finance subsidiary to manage a number of financial transactions, including its foreign exchange, financing, and hedging transactions. Your CFO has asked you to prepare an analysis of two offshore financial centers—Bermuda and Luxembourg. Research the pros and cons of each center and make a recommendation to your CFO.

Ethical Dilemmas

(AACSB: Ethical Reasoning, Multiculturalism, Reflective Thinking, Analytical Skills)

• Imagine that you are the finance manager in control of purchasing for a small manufacturing company. Your supplier in Russia tells you that there are two quotes, one for payments in US dollars by wire transfer or check and one for a US dollar cash-like transaction. The cash transaction is almost 10 percent cheaper, which could earn your firm a nice profit and a potential year-end bonus for you. How do you handle the phone call and the decision? Discuss the ethical and business issues involved. If you decide against the cash-like transaction, do you tell your senior management? What do you recommend to your management about future dealings with this supplier? Russia is one of the most corrupt countries for businesses. What options does your firm have if it needs to source from Russia? Use fxstreet.com ( http://www.fxstreet.com/rates-charts/ ) to research and discuss more.
• Global companies transact business in multiple countries and currencies. Using information you learned in this chapter, discuss whether companies should set up offshore companies to manage their currency and financial transactions. More specifically, if you worked for Walmart, would you recommend that the firm set up an offshore company? Why or why not?

Association to Advance Collegiate Schools of Business website, accessed January 26, 2010, http://www.aacsb.edu .

International Business Copyright © 2017 by [Author removed at request of original publisher] is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License , except where otherwise noted.

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How to Take Better Business Decisions: 50 Great Questions for Critical Thinking

A leader should be interested in developing 2 competencies in the people within their organisation:

• Good Decision Making (to take good choices about how to use the resources of the organisation to achieve strategic plans)
• Influencing Skills (because if they cannot influence their peers, people will have to involve you every time…)

If your team doesn’t have #1 they are taking poor decisions.  If your team doesn’t have #2 they cannot execute without your support (you will be sucked in to every initiative).

In order to take Good Decisions, you need to ask great questions.  

Most people ask few questions and rapidly jump to a solution.  Great decision makers ask many questions and get many perspectives before they commit to a decision.  Here’s a set of great questions…

This set of questions was inspired by the Global Digital Citizen Foundation and by Vistage Issue Processing where we help leaders develop the ability to ask great questions to help leaders think more deeply and see new perspectives, clarify objectives and take disciplined effective action.

The Ultimate Guide to Great Questions for Critical Thinking

Divided into who, what, where, when, why, how…

• …benefits from this?
• …is this harmful to?
• …makes decisions about this?
• …is most directly affected?
• …have you also heard discuss this?
• …would be the best person to consult?
• …else has overcome a similar challenge?
• …will be the key people in this?
• …deserves recognition for this?
• …is the impact on you?
• …is the impact on those close to you?
• …are the strengths/weaknesses?
• …is another perspective?
• …is another alternative?
• …would be a counter-argument?
• …is the best/worst case scenario?
• …is the most/least important?
• …can we do to make a positive change?
• …is getting in the way of taking action?
• …else would we see this problem showing up in your life?
• …else have you overcome this type of challenge?
• …are there similar situations?
• …is there the most need for this?
• …would this be the greatest problem?
• …can we get more information?
• …do we go for help with this?
• …will this idea take us?
• …are the areas for improvement?
• …is this acceptable/unacceptable?
• …would this benefit you?
• …would this cause a problem?
• …is the best time to take action?
• …will we know we’ve succeeded?
• …has this played a part in your past?
• …can we expect this to change?
• …should we ask for help with this?
• …is this a problem/challenge?
• …is it relevant to your goals?
• …is this the best/worst scenario?
• …are people influenced by this?
• …should people know about this?
• …has it been this way for so long?
• …is there a need for this today?
• …is this similar to _____?
• …does this disrupt things?
• …do we know the truth about this?
• …does this benefit you/us/others?
• …does this harm you/us/others?
• …do we see this playing out in the future?
• …can we help you?

I Keep Six Honest Serving Men Rudyard Kipling I KEEP six honest serving-men  (They taught me all I knew); Their names are What and Why and When   And How and Where and Who. I send them over land and sea,  I send them east and west; But after they have worked for me,   I  give them all a rest.

I  let them rest from nine till five,  For I am busy then, As well as breakfast, lunch, and tea,  For they are hungry men. But different folk have different views;  I know a person small— She keeps ten million serving-men, Who get no rest at all!

She sends’em abroad on her own affairs,  From the second she opens her eyes— One million Hows, two million Wheres, And seven million Whys!

The Elephant’s Child 

More Great Questions for Vistage Groups

• https://marktaylor.nyc/2010/12/05/are-you-processing-vistage-issues-with-integrity/
• https://blog.vistage.co.uk/what-is-the-vistage-issue-processing-framework-and-why-does-it-work

Great Questions for Teaching & the Learning Process

• https://globaldigitalcitizen.org/questions-essential-fluency-development

Critical Thinking Is About Asking Better Questions

• John Coleman

Six practices to sharpen your inquiry.

Critical thinking is the ability to analyze and effectively break down an issue in order to make a decision or find a solution. At the heart of critical thinking is the ability to formulate deep, different, and effective questions. For effective questioning, start by holding your hypotheses loosely. Be willing to fundamentally reconsider your initial conclusions — and do so without defensiveness. Second, listen more than you talk through active listening. Third, leave your queries open-ended, and avoid yes-or-no questions. Fourth, consider the counterintuitive to avoid falling into groupthink. Fifth, take the time to stew in a problem, rather than making decisions unnecessarily quickly. Last, ask thoughtful, even difficult, follow-ups.

Are you tackling a new and difficult problem at work? Recently promoted and trying to both understand your new role and bring a fresh perspective? Or are you new to the workforce and seeking ways to meaningfully contribute alongside your more experienced colleagues? If so, critical thinking — the ability to analyze and effectively break down an issue in order to make a decision or find a solution — will be core to your success. And at the heart of critical thinking is the ability to formulate deep, different, and effective questions.

• JC John Coleman is the author of the HBR Guide to Crafting Your Purpose . Subscribe to his free newsletter, On Purpose , follow him on Twitter @johnwcoleman, or contact him at johnwilliamcoleman.com.

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Critical Thinking Case

We want our mtv (international).

MTV, a division of Viacom International Media Networks and a mainstay of American pop culture, is just as popular in Shanghai as it is in Seattle and Sydney, or in Lagos (Nigeria) as it is in Los Angeles. MTV is a division of Viacom, and their international divisions are called the Viacom International Media Networks. London-based MTV Networks International, the world’s largest global network, has taken its winning formula to 167 foreign markets on six continents, including urban and rural areas. It reaches 4 billion homes in 40 languages through locally programmed and locally operated TV channels and websites. While the United States currently generates about 70 percent of MTV’s profits, 85 percent of the company’s subscriber base lives outside the United States.

The MTV brand has evolved beyond its music television roots into a multimedia lifestyle, entertainment, and culture brand for all ages. In addition to MTV and MTV2, its channel lineup includes Nickelodeon, VH1, Comedy Central, LOGO, TMF (The Music Factory), Game One, and several European music, comedy, and lifestyle channels, as well as Paramount Channel, Spike, and a growing number of flagship local networks such as Channel 5 in the UK, Telefe in Argentina, and COLORS in India. Adding to the complexity is MTV’s multimedia and interactive nature, with gaming, texting, and websites, as well as television. Another challenge is integrating acquisitions of local companies such as South American Telefe, which it purchased in 2016.

The company also has an international insights team that gathers the latest consumer insights from around the world. You can get some insight into this initiative at https://insights.viacom.com. The local perspective is invaluable in helping the network understand its markets, whether in terms of musical tastes or what entertainment children like. For example, Alex Okosi, a Nigerian who went to college in the United States, is chief executive for MTV Base, which launched in sub-Saharan Africa in 2005. Okosi recommended that MTV consider each country as an individual market, rather than blending them all together.

One reason for MTVNI’s success is “glocalization”—its ability to adapt programs to fit local cultures while still maintaining a consistent, special style. “When we set a channel up, we always provide a set of parameters in terms of standards of things we require,” an MTV executive explains. “Obviously an MTV channel that doesn’t look good enough is not going to do the business for us, let alone for the audience. There’s a higher expectation.” Then the local unit can tailor content to its market. MTV India conveys a “sense of the colorful street culture,” explains Bill Roedy, former MTV Networks International president, while MTV Japan has “a sense of technology edginess; MTV Italy, style and elegance.” In Africa, MTV Base features videos from top African artists as well as from emerging African music talent. According to company executives, the goal is to “provide a unique cultural meeting point for young people in Africa, using the common language of music to connect music fans from different backgrounds and cultures.”

• Do you think that MTV’s future lies mostly in its international operations? Explain your reasoning.
• What types of political, economic, and competitive challenges does MTV Networks International face by operating worldwide?
• How has MTV Networks International overcome cultural differences to create a world brand?

Sources: MTV Viacom Blog, http://blog.viacom.com, accessed June 30, 2017; MTV International website, http://www.mtv.com/, accessed June 30, 2017; MTV Consumer Insights website, https://insights.viacom.com, accessed June 30, 2017.

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International business and Trade

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Critical Thinking and Discussion Question

China is playing a growing role in the world economy. It is one of the world’s fastest growing countries and is the tenth largest exporter. Today, it is the world’s second-largest economy and produces 9. percent of global GDP. If current trends continue, discuss the possible implications of such a development for:

1. The world trading system; Currently, China is considered a developing country in World Trade Organization (WTO) which grant them the privilege to receive several benefits and investments from the said organization therefore if this trends continue, the country could reach the stage of <developed country=, which might be a disadvantage to them because they would lose their privileged status to WTO. Other than that, the country can possibly dominate the world economic standings in the coming years, this might unlock an opportunity for them to become a full-time member of WTO which will grant them same rights and responsibilities given to the countries that are fully developed. In addition, China might end up in a position which will give them right to influence the terms and policies of trade in different countries. Also, the country could possibly play an important role in the implication and regulation of trade policies and systems. To sum it all up, due to current trends, it is possible for China to become a developed country, which may lose its privileged status to WTO but also it could make the country come out as one of the key driver in world trading system and global trade.

2. The world monetary system;

If this trends continue, the currency of the current largest economy which is U. would downgrade and Yuan (Chinese currency) might dominate the dollar value and become the world’s new benchmark currency. By becoming the world’s largest economy, Chinese currency, yuan, might end up getting a worldwide acceptance as an International currency and would more likely be considered as a trading currency because of this Yuan might be stronger and most likely valued compared to other currencies, due to its rise in value there could possibly a surge in Chinese stock market. In addition, China could possibly have a fully convertible and trading currency, yuan could easily be tradable in means of purchasing items.

3. The business strategy of today’s European and U. global corporations; and Being the world’s largest economy, it is possible for China to represent large market in general and it might become the place of global competitors. It could also be predicted that due to China’s status, it could monopolize other competing global corporations. Moreover, some businesses might shift to China and major part of the work from U. and European global corporations might outsource the work. Therefore, U. and European global corporations are in a disadvantage position which will limit their business strategies within their possible global markets only and because of this, they don’t have other choice than to alter their business strategies and might decide to create a new competitive strategy that will help them compete with China’s economy in terms of GDP, national income and etc.

4. Global commodity prices

Because of China’s rapid growth and by attracting more investments in the form of companies it’ll be possible for them to become the world’s largest market. As a result, China will increase its supplies by producing more products which eventually will lead to reduction of

commodity’s prices. Offering cheaper commodity would help China to attract or capture markets, raise their economy and also the value of their currency. In other words, if China became the world’s largest market, commodity prices would go down or fall.

• Multiple Choice

Course : International Business and Trade (INTBUS-18)

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