Course Number: MGT350
Course Title: International Business
STUDENT LEARNING OUTCOMES
General
The aim of the course is to introduce
the student to the field of international business. The course will examine the
importance of international business; the role of government in international
business; cultural, political and legal issues; the theoretical foundations of
international trade and investment; the international economic and financial
environment; preparation far international market entry; and issues in
management, marketing, finance, and human resource management, with a brief
overview of international accounting and taxation.
Generally, the
student is expected to:
1. develop an appreciation of the need for international business because of its
crucial role in a modern firm's (and nation's)
competitiveness and
livelihood.
2. demonstrate a comprehensive understanding of the challenges facing the
international business manager and the home and host
country
governments.
Specific
Students will be able to:
1) Define
international business, discuss its impact on the nation, and outline the
opportunities and challenges it creates.
2) Define
culture and explain the various elements of culture - cultural universals - and
how they impact international business.
3) Discuss the
sources of cultural knowledge and name various ways in which it can be acquired.
4) Discuss the
role of international business as a change agent.
5) Assess the
place of trade and investment policies in the nation's overall domestic policy
in light of current global links in trade and
investment.
6) Assess the
importance of the political and legal environments in both the home and host
countries to the international business
manager.
7) Explain how
governments affect business through legislation and regulations.
8) Explain how
the political actions of countries expose firms to international risks.
9) Examine the
different laws and treaties regulating international trade in different
countries.
10) Discuss the
traditional arguments of haw and why international trade improves the welfare of
all countries.
11) Examine the
criticisms of classical trade theory as the basis for the evolution of
alternative viewpoints.
12) Compare the
implications of trade theory from the original work of Adam Smith (absolute
advantage) and Ricardo (comparative
advantage) to the contemporary
theories of
Michael Porter.
13) Outline the
similarities and differences between international trade and international
investment.
14) Explain the
fundamental principles of how countries measure the balance of payments.
15) Point out
the similarities, differences and relationship between the current and capital
accounts of the balance of payments.
16) Identify
the critical differences between merchandise trade and services trade.
17) Examine the role of exchange rates changes in
altering the balance of trade and the balance of payments.
18) Explain how currencies are traded and quoted
on world financial markets. 19) Describe the link between interest rates and
exchange rates.
19) Compare and contrast domestic and
international sources of capital.
20) Explain how the debt crises of the 1980's and
1990's are linked to the international financial markets and exchange rates.
21) Discuss the various types of
economic integration among countries and assess the costs and benefits of such
integration.
22) Describe the structure of a major integrated
market (e.g. EU, NAFTA) and its implications for firms within and outside the
region.
23) Explore the emergence of other integration
agreements especially in the Americas, Asia, and Africa.
24) Demonstrate an understanding of the need for
business research and highlight the differences between domestic and
international
research.
25) Demonstrate how to find and use various
sources of secondary information and how to gather primary data.
26) Describe a firm's gradual process of
internationalization and explain the strategic effects of internationalization
on the firm.
27) Explore various modes of entering the
international market, including cooperative market development, and the role and
functions
of international intermediaries.
28) Outline the process of strategic planning in
the context of the global marketplace and critically examine the external and
internal
factors involved.
29) Discuss how markets far international
expansion can be selected, their demand assessed, and appropriate strategies for
their
development devised.
30) Describe how environmental differences
generate new challenges for the international marketing manager.
31) Compare and contrast the merits of
standardization versus localization strategies for country markets and of
regional versus global
marketing efforts.
32) Discuss market-specific and global challenges
facing the marketing functions: product, price, distribution, and promotion
within
both the traditional and business dimensions.
33) Demonstrate how international business changes
the traditional financial management activities of the firm.
34) Discuss the three primary currency exposures
that confront the multinational firm and how management can manage or hedge
some
of these exposures.
35) Highlight differences in accounting practices across
countries, and show the effect of these differences on the competitiveness of
firms.
36) State the two basic philosophies of
international taxation as practiced by governments, and how they in turn deal
with foreign
firms in their home markets and domestic firms in foreign markets.
38)
Describe the challenges of managing personnel both in international operations.
39) Examine the sources, qualifications, and
compensation of international
managers. 39) Assess the effects of culture on managers and management policies