《International Business》(English) Syllabus
Course Code：030933A
Course Type：Obligatory Course
Periods：48Theoretical part：32Practical Part：16
Credit：3
Target students：International Economics and Trade
Preparatory Courses：International Economics, International trade,
International Finance
1、Objectives
"International Business" (English) is an international trade professional foundational course, targeted professional courses in English learning environment for students. This course introduces the background of economic globalization; international companies how to conduct international business activities and cross-border business activities. Including how-to-business environment in which international and national environmental evaluation of country analysis, enterpriseinter nationalization, globalization theory, international business strategy ，international business activities, entry mode selection, international business executives etc，so as to cultivate an international perspective theory in practice for students.
2.Basic Requirements
(1) Main Contents
The courseis divided in to the oretical part and practical part, the theoretical part includes business culture, international business negotiations, international trade, international finance, international marketing, international strategic planning, international businessman agement, etc.; practical part using CESIM combat simulation software to run International Business, related to strategic planning, financial involve global logistics planning, cross-border investment, international
trade practices and other content.
(2)Teaching Method
This course teaches the theory and case studies taken combined. Teaching content of each chapter to take into account the combination of both social realities and trends, and also have the focus, combined with cutting-edge issues of commercial culture, arrange some discussion to the depth and breadth.
(3) Assessment：Examination
The course is assessed by final exam, attendance, presentation. Final Exam: 70%; Practices with CESIM Global Challenge 20%, attendance presentation 10 %.
(4) Learning Requirements
Before learning this course, students should grasp the relevant international economics, international trade, international finance and other related courses as a basis. To adhere to the theory and practice of combining the principles of learning and using a combination of, students analyze and judge, this course will combine the cortical study and practical application of the principles, theory courses, will organize a panel discussion on the theme of international business exchange of relevant issues, including the submission of a written report to discuss the results and classroom presentation. The main advantage of the practical aspects simulation software, the sub-group global strategic lay out planning, the actual simulation performance evaluation results as a group.
3. Arrangements
4. Syllabus
Chapter 1 Globalization
This chapter introduces the emergence of the globally integrated business world. Globalization has reduced the traditional barriers to cross-border trade and investment (distance, time zones, language, differences in government regulations, culture, and business systems).
Learning objectives:
●Understand what is meant by the term globalization.
●Recognize the main drivers of globalization.
●Describe the changing nature of the global economy.
●Explain the major arguments in the debate over the impact of globalization.
●Understand how the process of globalization is creating opportunities and
challenges for business managers.
Chapter 2 National Differences in Political Economy
This chapter discusses differences in national political, economic, and legal systems, highlighting the ways in which managers in global settings need to be sensitive to these differences.
Learning objectives:
●Understand how the political systems of countries differ.
●Understand how the economic systems of countries differ.
●Understand how the legal systems of countries differ.
●Explain the implications for management practice of national differences in
political economy.
Chapter 3 Political Economy and
Economic Development
This chapter discusses differences in national political, economic, and legal systems, highlighting the ways in which managers in global settings need to be sensitive to these differences.
Learning objectives:
●Explain what determines the level of economic development of a nation.
●Identify the macro-political and economic changes taking place worldwide.
●Describe how transition economies are moving towards market based systems.
●Explain the implications for management practice of national differences in
political economy.
Chapter 4 Differences in Culture
This chapter explores the role of culture in international business: how differences in culture across and within countries can affect the practice of business.
Learning objectives:
●Know what is meant by the culture of a society.
●Identify the sources that lead to differences in social culture.
●Identify the business and economic implications of differences in culture.
●Understand how differences in social culture influence values in the work place.
●Develop an appreciation for the economic and business implications of cultural
change.
Chapter 5 Business Ethics
This chapter looks at ethics in international business. Ethics becomes an issue across nations because of differing political systems, economic systems, legal systems and cultural values. What is acceptable behavior in one nation may be considered unethical in another.
Learning objectives:
●Understand the ethical issues faced by international businesses.
●Recognize an ethical dilemma.
●Identify the causes of unethical behavior by managers.
●Describe the different philosophical approaches to ethics.
●Explain how managers can incorporate ethical considerations into their decision
making.
Chapter 6 International Trade Theories
This chapter presents the major theories of international trade. Scholars first began to offer explanations for trade in the fifteenth century. Since then, various trade theories have developed, along with efforts to refine them.
Learning objectives:
●Understand why na tions trade with each other.
●Summarize the different theories explaining trade flows between nations.
●Recognize why many economists believe that unrestricted free trade between
nations will raise the economic welfare of countries that participate in a free trade system.
●Explain the arguments of those who maintain that government can play a
proactive role in promoting national competitive advantage in certain industries.
●Understand the important implications that international trade theory holds for
business practice.
Chapter 7 The Political Economy of International Trade
This chapter focuses on the political systems and tools of trade policy. The major objective of this chapter is to describe how political realities shape the international trading system.
Learning objectives:
?Identify the policy instruments used by governments to influence international trade flows.
?Understand why governments sometimes intervene in international trade. ?Summarize and explain the arguments against strategic trade policy.
?Describe the developments of the world trading system and the current trade issues. ?Explain the implications for managers of developments in the world trade system.
Chapter 8 Foreign Direct Investment
The focus of this chapter is foreign direct investment (FDI). The growth of foreign direct investment in the last 25 years has been phenomenal. FDI can take the form of a foreign firm buying a firm in a different country, or deciding to invest in a different country by building operations there.
Learning objectives:
?Recognize current trends regarding FDI in the world economy.
?Explain the different theories of foreign direct investment.
?Understand how political ideology shapes a government’s attitudes towards FDI.?Describe the benefits and costs of FDI to home and host countries.
?Explain the range of policy instruments that governments use to influence FDI. ?Identify the implications for management practice of the theory and government policies associated with FDI.
Chapter 9 Regional Economic Integration
This chapter discusses regional economic integration, agreements among countries within a geographic region to achieve economic gains from the free flow of trade and investment among themselves.
Learning objectives:
?Describe the different levels of regional economic integration.
?Understand the economic and political arguments for regional economic integration.
?Understand the economic and political arguments against regional economic integration.
?Explain the history, current scope, and future prospects of the wor ld’s most important regional economic agreements.
?Understand the implications for business that are inherent in regional economic integration agreements.
Chapter 10 Foreign Exchange Market
The foreign exchange market is the market where currencies are bought and sold and currency prices are determined. It is a network of banks, brokers and dealers that exchange currencies 24 hours a day.
Learning objectives:
?Describe the functions of the foreign exchange market.
?Understand what is meant by spot exchange rates.
?Recognize the role that foreign exchange rates play in insuring against foreign exchange risk.
?Understand the different theories explaining how currency exchange rates are determined and their relative merits.
?Identify the merits of different approaches towards exchange rate forecasting. ?Compare and contrast the differences between transaction, translation, and economic exposure, and what managers do to manage each type of exposure.
Chapter 11 International Monetary System
This chapter discusses the evolution of the international monetary system and the implications of this system for international business, focusing on the institutional context within which exchange rates move.
Learning objectives:
?Describe the historical development of the modern global monetary system. ?Explain the role played by the World Bank and the IMF in the international monetary system.
?Compare and contrast the differences between a fixed and a floating exchange rate system.
?Identify exchange rate systems that are used in the world today and why countries adopt different exchange rate regimes.
?Understand the debate surrounding the role of the IMF in the management of financial crises.
?Explain the implications of the global monetary system for currency management and business strategy.
Chapter 12 International Financial Markets
This chapter discusses the form and function of the global capital market. The market is attractive because its size lowers the cost of capital for borrowers, and allows investors to diversify their portfolios, thereby reducing their risk.
Learning objectives:
?Describe the benefits of the global capital market.
?Identify why the global capital market has grown so rapidly over the last quarter century.
?Understand the risks associated with the globalization of capital markets. ?Compare and contrast the risks and benefits associated with the Eurocurrency market, the global bond market, and the global equity markets.
?Understand how foreign exchange risk impacts upon the cost of capital.
Chapter 13 International Strategy
In this chapter the focus shifts from the environment to the firm itself and, in
particular, to the actions managers can take to compete more effectively as an international business.
Learning objectives:
?Explain the concept of strategy.
?Recognize how firms can profit from expanding globally.
?Understand how pressures for cost reductions and pressures for local responsiveness influence strategic choice.
?Identify the different strategies for competing globally and their pros and cons.
Chapter 14 The Organization of International Business
This chapter identifies the organizational architecture that international businesses use to manage and direct global operations. The core argument outlined in this chapter is that superior enterprise profitability requires three conditions: First, the different elements of a firm’s organizational architecture must be internally consistent.
Second, the organizational architecture must match or fit the strategy of the firm—strategy and architecture must be consistent.
Third, the strategy and architecture of the firm must be consistent with competitive conditions prevailing in the market place.
Learning objectives:
?Explain what is meant by organizational architecture.
?Describe the different organizational choices that can be made in an international business.
?Explain how organization can be matched to strategy to improve the performance of an international business.
?Discuss what is required for an international business to change its organization so that it better matches its strategy.
Chapter 15 Entry Strategy and Strategic Alliances
This chapter is concerned with three closely related topics: the decisions of
which markets to enter, when to enter those markets, and on what scale.
Learning objectives:
?Explain the three basic differences that firms contemplating foreign expansion must make: which markets to enter, when to enter those markets, and on what
scale.
?Compare and contrast the different modes that firms use to enter foreign markets. ?Identify the factors that influence a firm’s choice of entry strategy.
?Recognize the pros and cons of acquisitions versus greenfield ventures as an entry strategy.
?Evaluate the pros and cons of entering into strategic alliances.
Chapter 16 Exporting, Importing and Countertrade
Previous chapters have presented exporting as just one of a range of strategic options for profiting from international markets. This chapter looks more at the nuts and bolts of how to export.
Learning objectives:
?Explain the promises and risks associated with exporting.
?Identify the steps managers can take to improve their firm’s export performance.?Identify information sources and government programs that exist to help exporters.
?Recognize the basic steps involved in export financing.
?Describe how countertrade can be used to facilitate exporting.
Chapter 17 Global Production, Outsourcing, and Logistics
This chapter focuses on two major activities—production and materials management, and attempts to clarify how when they are performed internationally, the cost of value creation can be lowered, and how value can be added by better serving customer needs.
The choice of an optimal manufacturing location must consider country factors, technological factors, and product factors.
Foreign factories can improve their capabilities over time, and this can be of immense strategic benefit to the firm. Managers need to view foreign factories as potential centers of excellence and encourage and foster attempts by local managers to upgrade factory capabilities.
An essential issue in many international businesses is determining which component parts should be manufactured in-house and which should be outsourced to independent suppliers.
The chapter also discusses the contributions of information technology to these activities. This is especially important in the era of the Internet.
Learning objectives:
?Explain why production and logistics decisions are of central importance to many multinational businesses.
?Explain how country differences, production technology, and product features all affect the choice of where to locate production activities.
?Recognize how the role of foreign subsidiaries in production can be enhanced over time as they accumulate knowledge.
?Identify the factors that influence a firm’s dec ision of whether to source supplies from within the company or from foreign suppliers.
?Describe what is required to efficiently coordinate a globally dispersed production system.
Chapter 18 Global Marketing and R&D
The focus of this chapter is on how marketing and R&D can be performed so they will reduce the costs of value creation and add value by better serving customer needs.
A global marketing strategy that views the world’s consumers as similar in their tastes and preferences is consistent with the mass production of a standardized output. By mass-producing a standardized output, the firm can realize substantial unit cost
reductions from experience curve and other scale economies. But ignoring country differences in consumer tastes and preferences can lead to failure. Thus, an international business’s marketing function needs to determine when product standardization is appropriate and when it is not, and adjust the marketing strategy accordingly. Similarly, the firm’s R&D function needs to develop g lobally standardized products when appropriate as well as products that are customized to local requirements.
Learning objectives:
?Explain why it makes sense to vary the attributes of a product from country to country.
?Recognize why and how a firm’s distri bution strategy might vary among countries.
?Identify how and why advertising and promotion strategies might vary among countries.
?Explain how and why a firm’s pricing strategy might vary among countries.?Describe how the globalization of the world’s econ omy is affecting new product development within the international business firm.
Chapter 19 Hiring and Managing Employees
Human resource management is key to the competitiveness of international firms.
HRM refers to those activities undertaken by an organization to effectively apply its human resources. These activities include human resource strategy, staffing, performance evaluation, management development, compensation, and labor relations.
Firm success requires that HRM policies are congruent with strategy and with formal and informal structure and controls. Strategies like “think globally and act locally” sound good, but to be successfully implemented, effective HRM policies are necessary.
Learning objectives:
?Summarize the strategic role of human resource management in the international business.
?Identify the pros and cons of different approaches to staffing policy in the international business.
?Explain why managers may fail to thrive in foreign postings.
?Recognize how management development and training programs can increase the value of human capital in the international business firm.
?Explain how and why performance appraisal systems might vary across nations. o Understand how and why compensation systems might vary across nations.
o Understand how organized labor can influence strategic choices in the international business firm.
Chapter 20 Hiring and Managing Employees
This chapter deals with accounting and financial management in international business. It illustrates and explains how accounting decisions, investment decisions, financing decisions, and money management decisions are complicated by different currencies, different tax regimes, different levels of political and economic risk, and so on.
Learning objectives:
?Discuss the national differences in accounting standards.
?Explain the implications of the rise of international accounting standards. ?Explain how accounting systems impact upon control systems within the multinational enterprise.
?Discuss how operating in different nations impacts investment decisions within the multinational enterprise.
?Discuss the different financing options available to the subsidiary of a multinational enterprise.
?Understand how money management in the international business can be used to minimize cash balances, transaction costs, and taxation.
?Understand the basic techniques for global money management.
5. Reference Book
Charles W.L. Hill,
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