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None Provided2 5. Which organizations are promoting the harmonization of national accounting standards? One of the most important of these efforts was the creation of the International Accounting Standards Committee (IASC) in 1973. The costs of harmonization are significant. Accountants, firms, and government officials must incur retooling costs if they abandon existing national accounting standards. 1. The Big Six have globalized primarily through mergers. What advantages does this growth strategy offer these firms? What are the disadvantages of using mergers to globalize? 2. What impact would harmonization of national accounting standards have on international businesses? 2. Along what dimensions does domestic HRM differ from international HRM? International HR managers face challenges beyond those confronting their counterparts in purely domestic companies. Specifically, differences in cultures, levels of economic development, and legal systems among the countries in which a firm operates may force it to customize its hiring, firing, training, and compensation programs on a country-by-country basis. 4. What are the basic issues involved in recruiting and selecting managers for foreign assignments? The firm first must define the actual business skills necessary to do the job. The firm next must determine the skills and abilities a manager must have to work and function effectively in the foreign location. These include the manager's ability to adapt to cultural change, ability to speak the local language, overall physical and emotional health, levels of independence and self-reliance, and appropriate levels 5. What issues are at the core of expatriation and repatriation problems? Working in and coping with a foreign culture can lead to culture shock, a psychological phenomenon that may lead to feelings of fear, helplessness, irritability, and disorientation. New expatriates experience a sense of loss regarding their old cultural environment as well as confusion, rejection, self doubt, and decreased self-esteem from working in a new and unfamiliar cultural setting. If a manager and his or her family have been successfully expatriated, they become comfortable with living and working in the foreign culture. When they return home it can be almost as traumatic to them as was the original move abroad. One reason for the difficulty of repatriation is that people tend to assume that nothing has changed back home. The repatriated manager also has to cope with change and uncertainty at work. 8. What special compensation and benefits issues arise in international HRM? A firm must assess the performance of its international managers and determine their compensation. Compensation for expatriate managers usually includes a cost of living adjustment as well as special benefits. Sometimes firms find they must supplement base pay in order to get a manager to accept an assignment in a relatively unattractive location this is called a hardship premium or a foreign service premium. This supplement is essentially an inducement to the individual to accept the international assignment. Finally, many international businesses also find they must set up a tax-equalization system. A tax-equalization system is a means of ensuring that the expatriate's after tax income would be in the home country. The special benefits include housing, education, medical treatment, travel to the home country, and club memberships. A common special benefit involves housing. Like other components of living costs, housing expenses vary in different areas. 1. How does HRM relate to other functional areas such as marketing, finance, and operations management? As with marketing, operations, finance, and accounting, the firm's managers must design an HRM strategy that promotes the company's overall corporate and business strategies. The cultural nuances inherent in international business heighten the complexities of developing an effective human resource strategy. Explain what character encoding is. How does this impact international business? Character encoding is a standard per language using binary conversions. Multiple 'standards' can be for each language, and the encoding process is taking the written alphabet of the language and putting it into the binary form. This impacts international business because businesses need to make sure they have compatible programs that will allow them to communicate with languages out of there own. For example if an English speaking person sends an English message to a Chinese person and the Chinese person doesn't have the proper encoding standard then they will not be able to read the message. What are the two major solutions to character encoding problems? What are their relative advantages and disadvantages? ISO 8859 (also the advanced stages of ISO 10646) (or just called the ISO standard). The current leader in the minds of Americans is the UNICODE standard. Both of these standards are trying to replace the country specific encoding standards like ASCII, ISO 8859-1 and ISO 8859-2 in Europe, ISO 8859-7 in Greece, KOI-8 in Russia, EUC and Shift-JIS in Japan. As you can see the disadvantage is that still countries use their own standards heavily and are even still developing them. The advantage is that they are at least available for people all around the world that for a computer-savvy user language will not be a computer-related barrier. What solutions are available to deal with language switching in software? Microsoft has adapted for e-mail, browsing, office application, and the end-user controls of the operating system to make language transparent to the system. This allows users to install 'plug-ins' to control what languages they can write in and what they can view in. Many other mainstream programs are written in enough languages to meet most of the demand of the world. A user can either download the specific program in the correct language or install these 'plug-ins' to meet the demand of the user. What is XML? How does it impact international business? The Extensible Markup Language (XML) is the universal format for structured documents and data on the Web. This is just a universal standard for the flow of data. The idea if it ever fully gets implemented is to have every web page put in the XML form that allows everybody with any computer on planet Earth to view it. It will be 'low profile' as to not take up much space to allow slow connections to view, but will have benefits like advanced linking techniques to create more 'book-like' feel. There are also many other improvements from the current HTML and Microsoft .DOC standards. What are the problems encountered in sending multilingual Email? Just like the above questions both users have to have the same languages installed. The difficult part if this was a true multilingual email where say for example you would reply to a Spanish message in English and then forward it to a Chinese person who then would write a comment in Chinese and send it to a Russian is that you would have to have a more advanced program to realize that there are separations. Most of the time when you are sending an e-mail it is sent in one standard. If you put more than one standard together then that could cause one part of the message to be read Bibliography:

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