Focuses on the risks and opportunities of conducting business in the global economy. Examines the cultural, country, currency, and commercial risks associated with international trade. Also discusses international theory; ethics; political, economic, and legal systems; government intervention; currency fluctuations; foreign market assessment; and market strategies in the global marketplace.
Goals, Topics, and Objectives
- International Business and Globalization of Markets
a. Define international business and the globalization of markets.
- Drivers, Dimensions, and Consequences of Globalization
a. Identify and analyze the causes and effects of globalization with respect to society and the firm.
- International Trade Theory
a. Analyze various classical and contemporary international trade theories.
- Advanced, Developing, and Emerging Economics
a. Compare and contrast advanced, developing, and emerging markets (e.g., population, GDP, political, legal, and economic systems).
- National Cultures and Subcultures
a. Explain the cross-cultural risks in international business.
- Ethics in International Business
a. Describe and evaluate different cultural and ethical approaches to international business decisions.
- National Differences in Political, Economic, and Legal Systems
a. Compare and contrast diverse political, economic, and legal systems.
- Trade Protectionism
a. Discuss the implications of trade protectionism and government intervention in international trade.
- Regional Economic Integration
a. Apparaise the implications of national regional economic integration.
- Currency Risk and International Business
a. Explain exchange rate risk.
b. Discuss global monetary systems.
- Participants in International Business
a. Define the participants in international trade (i.e., focal firms, intermediaries, and facilitators).
b. Discuss the challenges faced by these participants in the global market.
- Strategies and Organizational Structures of International Business Firms
a. Discuss organizational structures of international business firms.
b. Evaluate management strategies.
- Foreign Market Assessment and Market Strategies
a. Compare and contrast foreign market entry strategies.
b. Assess global market opportunities.
- Exporting, Importing, and Countertrading
a. Describe the opportunities for and risks associated with exporting, importing, and countertrading.
- Global Production, Outsourcing, and Logistics
a. Discuss global manufacturing, offshoring/outsourcing, logistics, supply chain management, and compliance with national and international quality standards.
Assessment and Requirements
Students will be assessed through tests, quizzes, assignments, and/or class participation.