This collection of readings provides a grounding in the major practical business decisions that students and managers face in a global setting. The organization of the reader emphasizes general patterns of trade and investment flows, while examining in depth the reasons for the internationalization of firms and the international dimension of various functional areas, including finance, accounting, marketing and production. In six sections the readings take up changes in international ownership patterns, corporate strategy, international marketing issues, the basic financial decisions and taxation issues for a multinational firm, and political risk. Each section includes an introduction that outlines the basic ideas to be discussed, as well as questions, key terms, and suggestions for further reading.