This text explains all the main activities involved in international business, and demonstrates how firms adapt to their changing environment. In addition to an important section on international business activities and operations, the authors also analyse the political, economic, and legal aspects of the international business environment. Particular emphasis is placed on responses to developments in the world economy and on the increasing globalization of business activity. They have provided extensive world-wide coverage, focusing on the major trading nations, European issues (within the EU as well as in Eastern Europe), the emerging economies, and the developing nations. The text includes extensive teaching aids which help the student to take a more active role in studying, such as case studies, study topics, group activities, and suggestions for an ongoing research project. These features result in a thorough and practical guide to the subject, providing material for seminars, tutorials and workshops besides independent study.