Why, when, where and how to internationalise are core questions for leaders, managers and their organisations today. This book provides a unique overview of the true essence of international management. As opposed to a conventional product-related country-oriented approach to the international business area, this book intends to follow modern trends in international management with a greater focus on internationalisation of firm's earnings and costs. The total economic result of international business transactions in the firm takes account of all cross-border inflow and outflow of cash. Modern firms participate in industrial value chains that tend to cross national borders intensively. The firm's value chain activity exercised in a certain country serves as an appropriate unit of analysis in multinational firms' decision-making. The combination of such analytical units as firm, industry with its value chain, country and modes of foreign and cross-border operations is at the heart of the book's structure. Based on decades of delivering award-winning executive education seminars and projects in numerous countries, the authors address key questions in order to perpetuate an organisation's as well as an individual's success in international activities. Numerous case studies from a variety of firms, industries and countries help illustrate options and choices.