An Investment Book Review – “Global Business Today” by Charles. W. L. Hill

If you have not heard about the multinational companies or multinational enterprises (shortly called MNC’s or MNE’s) and if you are working with shares, you are probably from another planet – or you simply do not care. I can simply assume that 99% of the readers of this book review have heard about the fantastic turnovers they have, about their cross-continental span or about how many people have successful careers in the MNC’s. I am actually one of the persons who happen to know quite well how multinational companies work – and yet I know quite a small portion of what I should know.
The multinational companies can reshape dramatically the earth they walk on, this is why I decided to read a book on how they work. And “Global Business Today” by Charles. W. L. Hill is a treat in itself. If you are accustomed with the McGraw Hill’s study text format, then you will know that their books are comprehensive and packed with study cases. “Global Business Today” does not make an exception, yet it has something more – it is about a subject which touches many aspects about our everyday lives.
“Global Business Today” starts with the topic of globalization – whether we like it or not, it is here and affects the way we communicate, travel, eat or work. Yet globalization can be a deceptive term, since countries are very different among them, not the least in culture. So the book goes ahead and summarizes the main features of the main world regions – be it in terms of culture, ethics or trade theories.
Another topic of the book is represented by the cross-border trade and investment – and the author goes a bit ahead of other books and summarizes nicely some topics such as the political economy of international trade. Do not expect to read here about something completely new – especially if you studied previously global business or international business topics. However, the twist is quite nice in that you can find many small specific details about the latest developments in the field. And believe me, in the game field of the multinational companies, these small sources of competitive advantage can really make a difference.
The book has a specific focus on the global money system or on the global financial management through its part four and two dedicated chapters, which is nice. You will go there through one of the most interesting chapters of the book the one about the international monetary system, which nicely rounded some late developments in the field.
“Global Business Today” ends with the competitive strategies used by the multinational companies in the global marketplace – a bit late to my taste, since the previous chapters were a bit theoretical. Actually the book kind of invites you to read it twice or better – to use it as a further reference and come back to it from time to time. This is not bad, it is just a warning that if you were looking for a book packed with practical things this is not exactly that one.
All in all, a pleasant and informative reading experience, even for a seasoned reader in the field. And if you are trading multinational shares, a must have in your library.

Contents:
Part OneGlobalization
Chapter 1 Globalization
Part TwoCountry Differences
Chapter 2 National Differences in Political Economy
Chapter 3 National Differences in Culture
Chapter 4 Ethics in International Business
Part ThreeCross-Border Trade and Investment
Chapter 5International Trade Theory
Chapter 6 The Political Economy of International Trade
Chapter 7 Foreign Direct Investment
Chapter 8 Regional Economic
FourGlobal Money System
Chapter 9 The Foreign Exchange Market
Chapter 10 The International Monetary System
Part FiveCompeting in a Global Marketplace
Chapter 11 The Strategy of International Business
Chapter 12 Entering Foreign Markets
Chapter 13 Exporting, Importing, and Countertrade
Chapter 14 Global Production, Outsourcing, and Logistics
Chapter 15 Global Marketing and R & D
Chapter 16 Global Human Resource Management

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