Units of Assessment

Weighting Towards Module Mark (%)

 

2-Hour Examination (Closed Book)

60

Coursework (2,000-word group case analysis)

40

Alternative Assessment: 2,000-word individual case analysis (for summer re-assessment).

100

Qualifying Condition(s) 

A weighted aggregated mark of 40% is required to pass the module.

This module focuses on key topics related to international business and management in the context of a global economy. It provides students with a solid understanding of the political, economic, legal, and cultural differences that exist among countries, and looks at how these differences impact international business. It also describes and explains cross-border trade and investment, focusing on international trade theory, foreign direct investment, and regional economic integration. Finally, the module examines the structures and managerial strategies that international firms typically adopt to compete effectively in the global marketplace. These strategies include marketing, manufacturing, and HR strategies. 

1. to provide students with a solid foundation of the political, economic, and cultural differences that exist among countries in the global marketplace,

    

2. to enhance students’ understanding of cross-border trade and investment by providing an overview of international trade theory, foreign direct investment, and regional economic integration,

    

3. to develop students’ analytical skills to assess the way in which international firms can expand into new markets,

    

4. to enable students to develop an understanding of the strategic issues and dilemmas that managers face in their efforts to expand and operate in the global marketplace,

    

5. to enable students to appreciate the distinctive characteristics of managerial processes that allow firms to compete in the global marketplace.

    

On successful completion of this module, students will be able to

1. understand the complexities related to international business operations,

    

2. assess the main theories and concepts that apply to international business,

    

3. analyse and evaluate the way in which firms expand into international markets,

    

4. understand the business strategies necessary to compete in a global marketplace.

    

Week 1 – Introduction: the impact of globalisation on IB

  ·      Globalisation, the emergence of global institutions, drivers of globalisation

·      The changing demographics of the global economy

·      The global debate

·      Managing in the global marketplace

Week 2 – Political, economic, and legal differences among countries and their impacts on IB

·      Political, economic, and legal systems

·      The determinants of economic development

·      States in transition

·      Implications for business

Week 3 – Cultural differences among countries, their impact, and ethical considerations in IB

·      Definitions of culture

·      Social structure

·      Religious and ethical systems

·      Language: spoken and unspoken

·      Education

·      Culture and the workplace, cultural change, and implications for business

Week 4 – Overview of international trade theory

·      Mercantilism, Absolute advantage, Comparative advantage

·      Heckscher-Ohlin theory

·      The Product Life-Cycle theory

·      The New Trade theory

Week 5 – Regional economic integration

·      Levels of economic integration

·      The case for regional integration, the case against regional integration

·      Regional economic integration in Europe, the , Asia, and Africa

·      Implications of regional integration for IB

Week 6 – Foreign Direct Investment

·      FDI in the world economy

·      Theory of FDI

·      Political ideology and FDI

·      Costs and benefits of FDI to the nation state

·      Government policy instruments and FDI

Week 7 – Global strategy and entry to foreign markets

·      Positioning for global expansion

·      Strategic choices

·      Strategic alliances

·      Basic entry decisions

·      Entry modes

·      Selecting and entry mode

Deadline for submitting group coursework (max. 2,000 words)

Spring vacation (24 March-22 April)

Week 8 – Global marketing and R&D

·      The globalisation of markets and brands

·      Market segmentation

·      Product Attributes: cultural differences, economic development, product/technical standards

·      Distribution strategy, communication strategy, pricing strategy

Week 9 - Global manufacturing and materials management

·      Strategy, manufacturing and logistics

·      Where to manufacture: country factors, technological factors, product factors, locating manufacturing facilities

·      The strategic role of foreign factors

·      Make-or-Buy decisions

·      Coordinating a global manufacturing system

Week 10 – Global human resources management

·      The strategic role of HRM

·      Staffing policy

·      Training and management development

·      Performance appraisals

·      Compensations

·      International labour relations

Week 11 – Conclusions and Review

The teaching and learning strategy is designed to:

 develop an awareness of country differences in order to understand how they impact international business,

• critically understand and assess models, theories, and concepts related to international business, 

   

• evaluate the strategic issues and dilemmas that concern the development of firms in the international marketplace, 

  Students are expected to undertake regular reading of the topics discussed during each session.

         Each session consists of two parts:

   

Part 1 consists of a formal lecture aimed at providing students with the knowledge of relevant theories. 

Part 2 is aimed to be practical and interactive. Students will be encouraged to put their knowledge to practice by analysing cases related to international business.

The teaching and learning methods will be supported by ULearn, where lecture materials and other relevant information on the module will be made available on a weekly basis.

Assessment Strategy:

The assessment method consists of two pieces of work:

1)      Coursework: group written report consisting of a case analysis related to a specific company entering an international market and/or already doing business internationally. The report is to be submitted by teams of two or three at the end of week 7 and should consist of approximately 2,000 words (40%),

2)      Final exam (60%).

In order to achieve the threshold standard for the award of credits for this module, students must meet the following criteria related to the learning outcomes described above:

• a satisfactory knowledge of the political, economical and cultural differences among countries and their impact on international business,

   

• a satisfactory knowledge of the models, concepts and theories related to international business,   

   

• a satisfactory ability to apply the knowledge on country differences and theoretical frameworks to real international business contexts;

   

• a satisfactory ability to identify and critically evaluate strategic issues and dilemmas that managers face when doing business in the global marketplace;

   

• a satisfactory ability to apply the theory in a critical and constructive way in order to solve strategic issues and/or balance strategic dilemmas in an international business context.

   

The marking criteria for the coursework are as follows (please bear in mind that the pass mark is 40%):

The project is expected to 

1. provide an application of the concepts, models and theories explained in lectures to a specific real case,

    

2. consider the implications of the analysis for future strategising by the company, 

    

3. justify all arguments put forward in the assessment of the case.

    

The case analysis will be assessed according to the following criteria.

Alternative assessment: Individual case analysis (2,000 words) to be assessed according to the same criteria of the group case analysis mentioned above.

Essential Reading :

Hill, Charles W.L., 2009).  Global Business Today.  6th Ed.   Boston, MA : Irwin/McGraw-Hill.

Recommended Reading :

Cavusgil, S.T., et al (2002). International Business: Strategy management and the new realities.  Pearson/Prentice Hall.

Duanmu, J., & Geppert,  M., (2008). International Business Management. University of Surrey : McGraw-Hill Higher Education.

Hill, C., (2008). International Business. McGraw Hill Higher Education.

Morrison, J., (2008). International Business: Challenging in a Changing World, Palgrave McMillan.

Background reading:

Bartlett C. A., & P. B., (2011). Transnational Management: Texts, Cases, and Readings in Cross-Border Management. McGraw-Hill Higher Education.

Dunning, J., and Lundan, S., (2008). Multinational Enterprises and the Global Economy. Edward Elgar Publishing.

Hitt, M.A., , R.D., & Hoskisson, R.E., (2008). Strategic Management. Competitiveness and Globalization: Concepts and Cases. South Western Educational Publishing.

Hofstede, G., 2004. Cultures and Organisations: Software for the Mind. McGraw-Hill Professional.

Hooley, Graham, Loveridge, and Wilson (eds), Internationalization Process, Context and Markets, Macmillan.

House, R., Javidan, M., Hanges, P., and Dorfman, P. (2004). Culture, Leadership, and Organizations: The GLOBE Study of 62 Societies. Sage Publications.

Johnson, G., & Scholes, K., (2007). Exploring Corporate Strategy: Text and Cases, Financial Times/Prentice Hall.

McFarlin, D.B., & Sweeney, P.D., (2005). International Management: Strategic Opportunities and Cultural Challenges, Houghton Mifflin.

Pitelis, C., and Sugden, R., (2000). The Nature of the Transnational Firm, Routledge.

Rugman, A., (ed.). (2009). The Oxford Handbook of International. Business. Oxford University Press.

Rugman, A.M., & Collinson, S., (2006). International Business, FT/Prentice Hall.

Stahl, G., and Ingmar, B., (eds.), (2006). Handbook of Research in International Human Resource Management. Edward Elgar.

Thomas, D.C. , (2005). Essentials of International Management and Reading and Cases in International Management. Sage Publications.

Thomas, D.C. , (2008). Cross-cultural Management: Essential Concepts. Sage Publications.

Business Magazines:

The Economist

Financial Times

Wall Street Journal

Business & Economy

Online resources:

www.wto.org

www.imf.org

www.imf.org/external/pubs/cat/wp1_sp.cfm?s_year=&e_year=&brtype=default

http://ifs.apdi.net/imf/about.asp

www.worldbank.org

www.statistics.gov.uk

http://europa.eu.int/comm/eurostat/

http://www.globalfindata.com