Reference Reviews

Lawrence Looks at Books

Encyclopedia of Business in Today’s World, edited by Charles Wankel. 4 vols. 2,010p. Thousand Oaks, CA: Sage, 2009. 978-1-4129-6427-2; 2009-2541. $495.

This encyclopedia of international business explores the changing shape of private enterprise in the world today. Globalization has brought unprecedented competitiveness to manufacturing, trade and finance. The 998 articles of this encyclopedia examine the forces driving this competition as well as the behaviors that businesses and countries are adopting in order to survive and compete successfully. Thus, the 180 corporate profiles include not only capsule histories and summaries of profits, but also discussions of measures of corporate trust and sustainable environmental policies. Sketches of the business climate of more than 100 countries and regions describe patterns of development, economic weaknesses, major industries, trade balances, investment risks, and expected trends for the future. Entries on management, human resources, manufacturing and marketing define basic concepts of business and demonstrate how such factors affect international trade or multinational corporations. Likewise, the world monetary system, international finance, trade and accounting are explained in entries on auditing standards, investor protections, international stock exchanges, debt rescheduling, exchange rates and the dollar hegemony. Discussions of trade agreements, treaties, the European Union and the Convention of Biological Diversity highlight the importance of international cooperation and regional economic integration. Some of the most interesting articles explore cultural differences in conducting business. The acceptance of women in business, bureaucratic approaches, nonverbal communication and expectations of conformity vary considerably form one area to another. Understanding of these attitudes and practices, from gift-giving to the willingness to pay bribes, can provide an advantage to those engaged in international business. This wide-ranging, scholarly resource allows the researcher to explore a multitude of topics related to international commerce. With the ever-widening number of individuals and companies engaged in international transactions, this set will prove useful in academic and public libraries.