This course introduces the student to the field of international business. Once a firm crosses an international border it is in a new legal, political, cultural and competitive environment. International business management is concerned with organizing and developing the firm’s resources and capabilities in order to succeed in this new environment.
The course begins with an overview of the trend towards globalization and an examination of the international political and cultural environment. In the second half of the course the focus shifts to the firm itself, beginning with corporate organisation and strategy for international companies, before moving on to evaluate market entry strategies such as strategic alliances and exporting. Major functional areas of businesses, marketing and operations, are reviewed in their international context.
By the end of the course students will be able to:
- Think critically about international business
- Discuss theoretical and practical concepts underlying international business
- Understand the mechanisms driving competitive advantage
- Apply an analytical framework in international business situations
- Recognize threats and opportunities in foreign markets
- Understand the strengths and weaknesses of major market entry strategies
- Demonstrate awareness of the importance of culture and cultural differences
- Formulate a foreign market entry plan
- Apply acquired skills in research, planning, presentation and decision making to international business situations
International Business: Competing in the Global Marketplace, Charles W.L. Hill, published by McGraw-Hill Education, 2014.
This course textbook is available from the Umbra Institute