Course Description
This course presents the key elements of the international business process that are necessary for local companies to transition into and thrive in the global marketplace. The course focuses on financial analysis of costs and pricing for the import and export of products (goods) and services. It examines the inherent risks of international trade and the steps that must be taken to analyze and mitigate risks including currency, political, economic, social, environmental, ethical, commercial, physical asset, personnel, technology, and intellectual property. The course aims to provide the tools necessary to propose a global business transition plan that incorporates market research and cultural awareness.
Course Content
1. Globalization
- What is globalization?
- Forces driving globalization
- Arguments for and against globalization
2. Cross-Cultural Business
- Components of culture
- Classifying cultures
- Managing across cultures
3. Politics and Law
- Political systems and political risk
- Legal systems and legal risk
4. International Ethics
- Ethics and social responsibility
- Identifying and resolving ethical conflicts in the global business environment
5. Emerging Markets
- Political and Business systems
- Development of nations
- Centrally controlled, mixed, and free enterprise business environments
6. International Trade
- Overview of international trade
7. Foreign Direct Investment
- Management issues and foreign direct investment
- Government intervention and policy instruments and foreign direct investment
8. Regional Economic Integration
- Effects of regional political, economic, and business integration
- Types of regional economic integration; free trade agreements, regional economic integration, and economic and political unions
9. International Financial Markets and Foreign Exchange
- Exchange rate factors, forecasts and theories
- International monetary system
- International capital markets
- Foreign exchange markets
10. International Strategy and Organization
- Assessing organizational readiness
- Planning international market research
- Screening potential international markets
- Selecting research design and conducting secondary research
- Collecting data for primary research
- Organizing data and presenting conclusions
- International strategy
- International organization structure
11. Selecting and Managing Entry Modes
- Exporting, importing and countertrade
- Contractual entry modes
- Investment entry modes
- eCommerce entry modes and the effect of eMarketing on market entry strategies
- Strategic factors in selecting an entry mode
12. Risk Analysis and Management
- The risk management process
- Analyzing and mitigating:
- currency/foreign exchange risk
- political risk
- economic risk
- social risk
- commercial risk
- foreign physical asset risk
- personnel risk
- technology risk
- intellectual property risk
13. Developing and Marketing Products
- Product development and adaptation
- Service Development: International Trade in Services
- Service development factors
- Service development processes and design
- Conducting cost and pricing analysis for exporting products (goods)
- Conducting cost and pricing analysis for importing products (goods)
- Conducting cost and pricing analysis for exporting services
- Conducting cost and pricing analysis for importing services
- Regulatory compliance
- Intellectual property protection
- Product liability
- Establishing sales channels to international markets
- Conducting sales and follow up
- Negotiating terms of international sales agreements
Learning Activities
Methods of instruction may include the following:
- Lectures
- Discussions
- Case study analysis
- Guest lectures on industry-specific subjects
Means of Assessment
Assessment will be in accordance with the ÁñÁ«ÊÓƵ Evaluation Policy.
|
Assignment(s)/Case Study(ies)/Quiz(zes) (Individual)
|
10 - 35% |
| Project (Group) |
10 - 35% |
| Midterm Examination(s) |
0 - 30% |
| Final Examination |
20 - 40% |
| Participation |
0 - 10% |
| Total: |
100% |
Notes:
- Fifty percent (50%) of non-exam assessments must be for individual work.
- Students must achieve a grade of at least 50% on the combined exam components to pass the course.
- Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the ÁñÁ«ÊÓƵ Research Ethics Board prior to conducting the research.
Learning Outcomes
At the end of the course, the successful student will be able to:
- analyze the current and future global business environments from both a national and global perspective.
- examine topics such as codes of conduct for international trade professionals, protecting human rights, implementing ethical practices, recognizing diversity in the workplace, and preserving the natural environment.
- analyze costs and pricing for the import and export of products (goods) and services.
- assess how the cultural aspects of business affect international trade and business relationships.
- evaluate the management of business functions
- identify and analyze potential risks, including ethical, of international initiatives and determine if the potential gains and opportunities of the venture outweigh the possible risks.
- evaluate how e-marketing and e-commerce are shaping the global business environment.
- propose a global business plan that incorporates, among other things, the trade and marketing elements necessary for a business organization preparing to go international.
Textbook Materials
Textbook(s) will be chosen from the following list:
- Wild, Wild, and Valladares. International Business: The Challenge of Globalization. (Latest Canadian Edition): Pearson Education Canada.
- Cavusgil, Knight, and Riesenberger. International Business: New Realities. (Latest Edition). Pearson.
- Feasibility of International Trade. (Latest Edition), Forum for International Trade Training (FITT; Free eBook download for students registered with FITT).
- Products and Services for a Global Market. (Latest Edition), Forum for International Trade Training (FITT; Free eBook download for students registered with FITT).
And/or any alternative textbook approved by the Business Management Department.