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
- Define international business and the globalization of markets.
- Drivers, Dimensions, and Consequences of Globalization
- Identify and analyze the causes and effects of globalization with respect to society and the firm.*
- International Trade Theory
- Analyze various classical and contemporary international trade theories.*
- Advanced, Developing, and Emerging Economics
- Compare and contrast advanced, developing, and emerging markets (e.g., population, GDP, political, legal, and economic systems).*
- National Cultures and Subcultures
- Explain the cross-cultural risks in international business.
- Ethics in International Business
- Describe and evaluate different cultural and ethical approaches to international business decisions.*
- National Differences in Political, Economic, and Legal Systems
- Compare and contrast diverse political, economic, and legal systems.*
- Trade Protectionism
- Discuss the implications of trade protectionism and government intervention in international trade.
- Regional Economic Integration
- Apparaise the implications of national regional economic integration.
- Currency Risk and International Business
- Explain exchange rate risk.
- Discuss global monetary systems.
- Participants in International Business
- Define the participants in international trade (i.e., focal firms, intermediaries, and facilitators).
- Discuss the challenges faced by these participants in the global market.
- Strategies and Organizational Structures of International Business Firms
- Discuss organizational structures of international business firms.
- Evaluate management strategies.
- Foreign Market Assessment and Market Strategies
- Compare and contrast foreign market entry strategies.
- Assess global market opportunities.*
- Exporting, Importing, and Countertrading
- Describe the opportunities for and risks associated with exporting, importing, and countertrading.
- Global Production, Outsourcing, and Logistics
- 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.