CHAPTER 7
INTERNATIONAL BUSINESS
OBJECTIVES:
1. The students are able to explain
the words concerning with international business.
2. The students are able to tell the
tips to be a successful negotiator.
1. INTRODUCTION TO INTERNATIONAL BUSINESS
International trade makes a wide
variety of goods, and services available to people everywhere. Many of the
items that we use daily are imports-products that are sold where we live but
produced or grown somewhere else. Conversely, products that are made or
produced in a country, but shipped abroad, are exports. Regardless of its
resources, no country today can produce all of the goods and services demanded
by its citizens. Countries naturally tend to export those things that they can
produce better or less expensively than other countries. They can then use the
proceeds to import things they cannot produce efficiently at home.
Think about the following products that you may use everyday. Where
do these products come from? Television is from China ,
Japan , and Germany Brazil , and Indonesia Russia Korea ,
Japan , and Germany Indonesia , Iran , Iraq ,
and Saudi Arabia Indonesia , and
China
Make a list of other products that
you use in your daily life. What countries are they from? Rice is from Indonesia , and Burma China , Korea ,
and Japan Japan , India , and China Japan , and Korea Indonesia , French, and China
Why do these countries produce these
products? These Countries produce these products because they have the raw
material.
YOUR COUNTRY AS AN
IMPORTER EXPORTER
1. What are your
country’s five top 1. What
are your country’s five top exports?
imports?
Electronic appliances, cars, Oil,
fish, sugar, coffee, and work force.
motorcycle, hand
phone, and textile.
2. Why does your country
import these 2. Why does your
country export these goods or goods or services? Because we didn’t services? Because we have the raw material.
have the expert
yet.
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3. From where does
your country import 3. Where does
your country export them to?
Them? We import
them from developed To developed
countries or rich countries.
4. What are the
advantages and 4.
What are the advantage and disadvantage of disadvantages of importing them? exporting them?
The advantages are
we have these modern We get income
from selling them and
things, and we can
use them to enlighten automatically
increase our power to buy. The
our work. The
disadvantages are they disadvantage
is we decrease our raw material.
decrease our power
to buy and we don’t
challenge our
selves to create our own
goods.
NEW VOCABULARY
Read the following
sentences and try to guess the meaning of the words. Write a synonym or your
own definition.
1. At the end of
last year, Iguana Oil’s total assets were $ 38.9 billion and it was ranked
as the fourth largest petroleum company in the world based on
revenues.
2. The company was
founded in 1932 and experienced phenomenal
growth during the
1930’s and 40’s; it made an important
contribution to the war effort during
World War II.
3. It’s growth
continued well after the war as baby
boomers bought cars to support
their need for mobility in their work,
entertainment, and vacationing.
4. Now as Iguana
Oil prepares for the twenty-first century, the world’s oil supplies are
diminishing
and the cost of exploring and developing new oil fields is increasing
tremendously.
5. At our current
rate of extraction, which is in
accordance with world demand, our
present oil reserves are expected to be
used up within the next five years.
6. The oil reserve
may be extremely large or it may be extremely small. There is no way
of knowing until we actually start
developing the oil exploration sites
already
staked
out.
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7. Since the
1970’s, Guilipa has been plagued by a large deficit, unable to earn enough
foreign currency to pay for imports.
8. All of
president Sanchez’s aides were exclaiming,”
This is what Guilipa needs to
help rebuild the economy!”
9. Even though
President Sanchez thought this could be an excellent opportunity for
Guilipa, he was still a bit wary.
10. “Yes, Guilipa
desperately needs economic help. We are in very difficult times.
However, we still want representation, autonomy, and dignity in the venture.
Now try to match with one of the given synonyms or
definitions
1. Rank a.
extraordinary
2. Phenomenal b. independence
3. Baby boomers c. shout
4. Diminish d. cautious
5. In accordance
with e. order
6. Stake out f. demarcate
7. Deficit g. individuals
born after the immediate post-World War II
8. Exclaim h. corresponds to
9. Wary i. decrease
10. Autonomy j. shortage
Key to the above questions
1. Rank = order
2. Phenomenal =
extraordinary
3. Baby boomers =
individuals born after the immediate post-world war II.
4. Diminish =
decrease
5. In accordance
with = corresponds to
6. Stake out =
Demarcate
7. Deficit =
shortage
8. Exclaim = shout
9. Wary = cautious
10. Autonomy =
independence
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2. LANGUAGE SKILL
NEGOTIATION
The following are
some tips o help you in being a successful negotiator.
Be cooperative
In a cooperative
approach to negotiating, the goal is to find a solution that will be perceived
as beneficial to both parties-a win-win solution.
Be flexible
The negotiators must
be able to adjust their demands in response to each other’s proposals.
Be Prepared
Know exactly what
you want to achieve from the negotiation and what you are willing to concede
for those things if necessary.
Be Honest
It is important
for both parties to share ideas and concerns openly. This creates an atmosphere
of trust and therefore a more cooperative negotiating session.
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