INTERNATIONAL BUSINESS

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Learning Outcomes

Can explain the concepts of globalization and international business.
Describes and distinguishes the key concepts in international trade and investment.
Explains how international business differs from domestic business in terms risks.
Identifies the types of companies that participate in international business.
Summarizes the reasons why firms pursue internationalization strategies.
Can describe how the process of globalization affects markets and the internationalization of the firm.
Describes historical phases of globalization.
Explains globalization of markets in terms of drivers, dimensions, societal and firm-level consequences.
Explains technological advances as a driver of market globalization.
Describes international value chain activities.
Can debate the benefits and volume of international trade, and can restate and illustrate the major theories that attempt to explain why trade occurs.
Explains, compares and illustrates the following trade and investment theories on a national-level: Mercantilism and Absolute advantage (Classical theories); National competitive advantage, Michael Porter's diamond model, National industry policy, and New trade theory (Contemporary theories).
Explains, compares and illustrates the following trade and investment theories on a firm-level: Firm internationalization; Monopolistic advantage theory, Internalization theory, Dunning's eclectic paradigm(FDI-based explanations).
Can distinguish different cultural environments facing multinational companies.
Describes culture, and explains the significance of both national culture and subcultures.
Identifies the components of culture, and describes their impact on business activities around the world.
Describes cultural change, and explains how companies and culture affect one another.
Describes the two main frameworks used to classify cultures and explains their practical use.
Identifies, questions and debates the industries that could have major impacts on cultural change as a consequence of globalization.
Can distinguish different political and legal environments facing multinational companies.
Describes each main type of political system.
Identifies the origins of political risk for multinational companies and how managers can reduce its effects.
Lists the main types of legal systems, and explains how they differ.
Describes the major legal and ethical issues facing multinational companies.
Relates the roles of governments, international institutions, organizations and companies in resolving major legal and ethical conflicts facing international companies.
Can identify and distinguish emerging markets.
Explains the distinction between advanced economies, developing economies, and emerging markets.
Discusses what makes emerging markets attractive for international business.
Identifies risks and challenges of doing business in emerging markets.
Explains strategies for doing business in emerging markets.
Can discuss the role of strategy and alternative structural arrangements in building a globally integrated enterprise.
Explains the role of strategy in international business.
Discusses the integration-responsiveness framework.
Identifies strategies emerging from the integration-responsiveness framework.
Distinguishes alternative organizational arrangements for international operations.
Can explain foreign direct investment (FDI) and its impact on international business.
Describes worldwide patterns of FDI and reasons for these patterns.
Discusses the important management issues in the FDI decision.
Explains why governments intervene in the free flow of FDI.
Discusses the policy instruments that governments use to promote and restrict FDI.
Can discuss functional areas in international business.
Explains global marketing strategy.
Distinguishes standardization and adaptation of the international marketing program.
Discusses the strategic role of human resources in international business.
Explains international staffing policies, and preparation and training of personnel.