ABSTRACT
The first edition of this book began: “The conduct of business is increasingly global.” This is still the case. Today, the pace of “globalization” is increasing faster than ever. Not only – as stated in the first edition – are markets for most goods and services global, but investment across borders continues to increase, the number and value of cross-border mergers and acquisitions and international joint ventures and alliances continue to increase, and the amount of money and number of people that crosses borders is on the rise. Thousands of firms and millions of people work outside their countries of citizenship and millions of people work at home for companies with
foreign ownership. Competition almost everywhere is global in scope, meaning businesses of all types in most countries face real or potential competition from foreign products or services or from foreign-owned subsidiaries and domestic firms that are now foreign-owned. In addition, inputs to business activity (including capital, materiel, ideas, technology, parts, insurance, legal services, office equipment, employees, etc.) are pretty much available everywhere from sources that can – and do – come from almost anywhere at world-class quality, cost, and speed.
