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 analyses emerging markets’ commercial realities, national cultures, and business negotiation styles within the context of a global economy. It looks at specific cases including the BRIC economies (, , , and ), , , and other Eastern European and Latin American countries. The module focuses on the opportunities and challenges that multinationals face when doing business and investing in emerging markets, and provides students with the necessary analytical skills to assess emerging markets for potential entry. It also deals with entry strategies of multinationals from emerging markets into both developed economies and other emerging markets.

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

 1.           undertake an emerging market analysis,  

Week 1 – Understanding and assessing emerging markets

 ·      The paradigm shift in IB

 ·      Definition of  emerging markets

 ·      Emerging markets as growing markets

·      Emerging markets as global sources

 ·      Characteristics of emerging markets

 ·      Important of negotiations in emerging markets

  Week 2 – Internationalisation as a strategy within the context of emerging markets

 ·      Factors that affect internationalisation

 ·      Opportunities and challenges of internationalisation

 ·      Strategic alignment for internationalisation processes

 ·      The role of technology in internationalisation processes

 Week 3 – Entry strategies related to emerging markets

 ·      Direct and indirect exporting

 ·      Contractual entry modes

 ·      Investment entry modes

 Week 4 – Relationships in emerging markets

 ·      Types of relationships in emerging markets: managing relationships with foreign governments, expatriates, foreign partners, foreign communities, foreign customers

 ·      Partnerships or alliances in emerging markets: selecting foreign partners (collaborations and joint ventures), foreign distributors, freight forwarder

 Week 5 – Negotiation processes and strategies in the context of emerging markets

 ·      Business negotiations

 ·      The negotiation process

 ·      Strategies for the global negotiator

 ·      Framework for IB negotiations

 Week 6 – Emerging markets of Asia

 ·      The current investment climate

 ·      Factors affecting market entry

 ·      Negotiating in Asia

 ·      The cases of  China and India

 ·      Other regional cases

 Week 7 – Emerging markets of Latin America

 ·      The current investment climate

 ·      Factors affecting market entry

 ·      Negotiating in Latin America

 ·      The case of Brazil

 ·      Other regional cases

 Deadline for submitting group coursework (max. 2.000 words)

  Spring vacation (27 March-25 April)

 Week 8 – Emerging markets of Eastern Europe

 ·      The current investment climate

 ·      Factors affecting market entry

 ·      Negotiating in Eastern Europe

 ·      The case of Russia

 ·      Other regional cases

Week 9 – Emerging markets of South Africa and Turkey

 ·      The current investment climates in South Africa and in Turkey

 ·      Factors affecting market entry into South Africa and into Turkey

 ·      Negotiating in  South Afrida and in Turkey

 Week 10 – Guidelines for doing business in emerging markets

 ·      Evaluating the potential of emerging markets

 ·      The seven dimensions of the Market Opportunity Index (MOI)

 ·      Limitations of the MOI

 ·      Measuring market attractiveness

  Week 11 – Conclusions and Review

The teaching and learning strategy is designed to:

•   introduce alternative theoretical approaches to the process of internationalising into and out of emerging markets, 

•  critically understand and evaluate the strategic issues and dilemmas that concern the development of firms in emerging markets,

•  exercise judgment over a range of strategic solutions available in the formulation of internationalisation strategies.

•  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 and illustrative emerging market analyses.

    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:

  Coursework: group written report consisting of a case analysis related to a specific emerging multinational enterprise. The project 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%),

1.  Final exam (60%).

2.  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:

3.  a satisfactory knowledge of the processes and strategies of internationalisation into and out of emerging markets;  

    

    

    

    

    

    

    

    

    

    

4. a satisfactory knowledge of the theoretical approaches to analysing emerging markets;   

   5      a satisfactory ability to apply the theoretical frameworks to a real business context in an emerging market;  
   6.    a satisfactory ability to identify and critically evaluate strategic issues and dilemmas that managers face in their internationalisation efforts into and out of emerging markets;

    

    

    

    

    

    

• a satisfactory ability to apply the theory in a critical and constructive way in order to solve strategic issues and/or balance strategic dilemmas posed by emerging markets. 

   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 theories explained in lectures to assess the steps taken by the case company to internationalise its operations consider the implications of the analysis for future strategising by the company.   

   

   

   

   

   

   

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

   

   

   

   

   

   

   

   

   

   

   

   

   

            3.       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 :

 A reader will be developed.

 Recommended Reading :

 Cavusgil, T., Ghauri, P., and Agarwal (2002). Doing Business in Emerging Markets: Entry and Negotiation Strategies. Sadler Oaks, California : Sage Publications.

 Dean, R., (2009). Doing Business in Emerging Markes: A Transactional Guide: Cases and Materials. New York : Foundation Press. 

   Ramamurti, R., and Jitendra V.Singh, (2009). Emerging multinationals from emerging markets. New York : CUP.

 Van Agtmael, A., 2008. The Emerging Markets Century. London : Simon & Schuster.

 Background Reading :

 Becker-Ritterspach, F., (2009). Hybridization of MNE Subsidiaries. The Automotive Sector in . Basingstoke : Palgrave.

  Cheung, Y.W., and K.Y. Wong,  (2009). and Asia . Economic and Financial Interactions. New York : Routledge.

 Grosse, R., and L. F. Mesquita,  (2007). Can Latin America Firms Compete? Oxford: Oxford University Press.

   Harvard Business Review on Emerging Markets (2008). Harvard Business Press.

   Khanna, R., and K. G. Palepu,  (2010). Winning in Emerging Markets: A Road Map for Strategy and Execution. Harvard Business School Press.

  Luo, Y., (2002). Multinational Enterprises in Emerging Markets. Copenhagen: Copenhagen Business School Press. 

Merchant, H., (2007). Competing in Emerging Markets. Routledge.

  Pacek, N., and D. Thorniley, (2007). Emerging Markets: Lessons for Business Success and the Outlook for Different Markets. London : The Economist in association with Profile Books Ltd.

   Qualmann, R., (2008). South Africa’s Reintegration into World and Regional Markets: Trade liberalization and emerging patterns of specialization in the Post-Apartheid Era. Baden-Baden : Nomos.

   Singh, S., (2009). Handbook of Business Practices and Growth in Emerging Markets. World Scientific Publishing.

  Warner, M., (ed.) (2003). Culture and Management in Asia . London : Routledge.

 Business Magazines:

   The Economist

 Financial Times

African Business

The Middle East

 Online resources:

 www.wto.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