1. NEW Chapter Layout—Instructor feedback indicated it was difficult for many students to absorb the amount of information contained within chapter 2. In response, the author responded by separating the material to make a new chapter; Chapter 3 has been added and titled, Political Economy and Economic Development.
2. Comprehensive and Up-to-Date—the environment of business has changed and to represent it, the author has incorporated the most recent available statistical data in all of the texts chapters along with new examples, cases, and features throughout. All chapter opening and closing cases are new to this edition, and all statistics, figures and maps have been updated in chapters 1, 3, 7, 8, and in chapter 10 the author includes the most recent data on foreign exchange rates, the Economist Big Mac Index, etc.
3. Expanded Discussion on Topics—chapter 1 includes discussion of new studies on income distribution and globalization; chapter 5 contains a new section on societal culture and ethics; chapter 7 contains a new section on protecting the environment; chapter 9 provides a detailed discussion of sovereign debt crisis added to the euro; and in chapter 15, the author highlights hidden costs of foreign locations, and dynamic capabilities, and how their role influences make or buy decisions.
4. cesim Global Challenge is an International Business simulation designed to develop student understanding of the interaction and complexity of various business disciplines and concepts in a rapidly evolving, competitive business environment. The simulation has a particular focus on creating long term, sustainable, and profitable growth of a global technology company. Student teams make decisions about technology-based product roadmaps, and global market and production strategies involving economics, finance, human resources, accounting, procurement, production, logistics, research and innovation, and marketing. cesim improves the knowledge retention, business decision making and teamwork skills of students.
