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C. Jeevanandam (2008): International Business.

C. Jeevanandam (2008)

International Business

M/S. Sultan Chand & Sons, Delhi

Pages: 300, Price: Rs. 375

Process of Globalization began in India with the commencement of Economic Reforms, initiated in 1991. The reforms process was thereafter accelerated with the apt support of various National policies, and gained momentum with the historical entry of India into WTO way back in 1995. Taking the full advantage of economic and financial liberalization -ushered through a series of reforms processes, international negotiations & cooperation, as also with the opening-up of the Indian economy to the Global economy, India became well poised to become an active partner and a major player in the global economy. The emergence of several Indian National companies and eventually evolving & transforming into International & Multinational companies, is a glaring example of effective integration of our national economy with the global economy. With the China's Entry (Enter the Dragon) into WTO in the very beginning of 21st Century the Global economy has entered into the new phase and new wave of development and business transformation. This would be evident from the birth of the concept of BRIC nations (viz. Brazil, Russia, India, China) that are likely to drive and shift the strategic focus form the Developed economy to the Developing economy in the next few decades of the 21st Century.

It is against this backdrop that the Book on 'International Business', written by Mr. C.Jeevanandan, is both well conceived and well timed.

A thorough scrutiny and critical review of the book reveals that the following salient features are the cardinal approaches used to design and customize the Book, keeping in mind the unique requirements of MBA students:

* The book starts with the raison d'etre of International business, in the wake of globalization and traverses right through the domains of business environment and interrelated global issues leading to 'how to manage effectively the International business to face the fast-growing global competitiveness'.

* Provides broad-based Indian perspectives while explaining several facets of International Business.

* Covers all the relevant topics quite comprehensively and concisely in proper format and sequence, making the whole experience of reading absorbing and interesting all the way through the text.

* The Book, inter alia, provides lesson-wise Learning objectives, Lesson summary, Review Questions and study materials, selectively drawn for internal assignment -that could just as well be used for continuous evaluation.

The Book is basically designed and structured into 6 main Modules; viz. (i) International Business-Need and Mode; (ii) International Business environment; (iii) International Financial Environment; (iv) Trade Policy and Procedures; (v) Global Issues: (vi) International Management.

Highlights of these six Parts of the book are summed-up as follows:

International Business-Need and Mode: Brief description of International Trade theories, modes of International Business entry, including different types of entry barriers, the role of Foreign Direct Investment (FDI) in improving investment opportunities in India and abroad.

International Business environment: Detailed elucidation of the International Business environment with focus on cultural, economic, legal, political, commercial, regional and last but not the least the internal environment.

International Financial Environment: This section has broadly dealt with the International Financial systems, International Financial institutions, International Organizations (viz. The World Bank, IMF, WTO etc.), Regional Economic Cooperation (viz. EU, NAFTA, SAFTA etc), Balance of Payment and the roles they play in the International Trade and allied businesses.

Trade Policy and Procedures: This Module is devoted to 4 clear-cut sections encompassing Foreign Trade Promotion, Foreign Investment Policy of the government, International Trade procedures and Financing of Foreign Trade.

Global Issues: In this Module, primary focus is given on the events and processes leading to globalization and its impact on Regional and Global economy in one hand, and the International Business opportunities on the other. The emerging and internationally relevant issues linked to Multinational Corporations (MNC's), changing trends of International business, including some of the current burning issues, affecting global economy (viz. Trade distortions, non-compliance of International agreements, geo-politics, Regional segmentations etc.) has been quite ably discussed.

International Management: The concluding Module is devoted to explaining the vast arena of International Businesses in the larger context of its implications borne out of complex organizational structure, Production, logistics & supply-chain management, International Human Resources Management, Financial Management & Fiscal disciplines in International Firms, International Marketing Management and International Business Negotiations ( viz. Production Sharing Contracts in Joint ventures) etc.

The book is well conceived and structured in total and should hopefully serve as a good text book. However, while reviewing more critically it was observed that there is still a scope of improvement in terms of contents and coverage of the book. In this regard, the specific suggestions are offered as follows:

i. Under International Financial Environment (Part--III), Derivative Market, Security Analysis and Portfolio Management should have been included along with International Taxation. Capital Budgeting, Dividend sharing and International Project Funding. This could have added value to the section.

ii. Under Global Issues (Part V) WTO and the various International Agreements could have been dealt in details complimented with good and illustrative case studies.

iii. Under International Management (Part-VI) sections on International Human Resources Management and International Marketing should have been described in grater details with depth and broader horizons.

A. N. Sarkar

Asia-Pacific Institute of Management, New Delhi

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Author:Sarkar, A.N.
Publication:Asia-Pacific Business Review
Date:Apr 1, 2008
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