INTERNATIONAL BUSINESS

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Learning Outcomes

Explain the concepts of globalization and international business.
Describe and distinguish the key concepts in international trade and investment.
Explain how international business differs from domestic business in terms risks.
Identify the types of companies that participate in international business.
Summarize the reasons why firms pursue internationalization strategies.
Describe how the process of globalization affects markets and the internationalization of the firm.
Describe historical phases of globalization.
Explain globalization of markets in terms of drivers, dimensions, societal and firm-level consequences.
Explain technological advances as a driver of market globalization.
Describe international value chain activities.
Distinguish different cultural environments facing multinational companies.
Describe culture, and explain the significance of both national culture and subcultures.
Identify the components of culture, and describe their impact on business activities around the world.
Describe cultural change, and explain how companies and culture affect one another.
Describe the two main frameworks used to classify cultures and explain their practical use.
Identify, question and debate the industries that could have major impacts on cultural change as a consequence of globalization.
Distinguish different political and legal environments facing multinational companies.
Describe the main types of political systems.
Identify the origins of political risk for multinational companies and how managers can reduce its effects.
List the main types of legal systems, and explains how they differ.
Describe the major legal and ethical issues facing multinational companies.
Relate the roles of governments, international institutions, organizations and companies in resolving major legal and ethical conflicts facing international companies.
Discuss the role of strategy and alternative structural arrangements in building a globally integrated enterprise.
Explain the role of strategy in international business.
Discuss the integration-responsiveness framework.
Identify strategies emerging from the integration-responsiveness framework.
Distinguish alternative organizational arrangements for international operations.
Explain different modes of entering and working in international markets.
Identify the three main types of foreign market entry modes (strategies).
Discuss the benefits and risks of exporting and global sourcing.
Discuss the benefits and risks of licensing, franchising, and other contractual strategies.
Explain foreign direct investment (FDI) and its impact on international business.
Discuss foreign direct investment (FDI) and its impact on international business.
Describe worldwide patterns of FDI and reasons for these patterns.
Discuss the important management issues in the FDI decision.
Explain why governments intervene in the free flow of FDI.
Discuss the policy instruments that governments use to promote and restrict FDI.
Discuss functional areas in international business.
Explain global marketing strategies.
Distinguish standardization and adaptation of the international marketing program.
Discuss the strategic role of human resources in international business.
Explain international staffing policies, and preparation and training of personnel.
Identify and distinguish emerging markets.
Discuss what makes emerging markets attractive for international business.