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Course Study Guide

201112

International Business Management

BUSI 1493

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Contents
1. WELCOME............................................................................................................................................3 2. INTRODUCTION TO THE COURSE......................................................................................................4 AIMS..........................................................................................................................................................4 LEARNING OUTCOMES....................................................................................................................................4 2.2.1 Knowledge and understanding of:................................................................................................4 2.2.2 Intellectual Skills:..........................................................................................................................5 2.2.3 Subject practical skills:................................................................................................................5 Transferable skills:.................................................................................................................................5 2.3 LEARNING AND TEACHING ACTIVITIES............................................................................................................5 3. CONTACT DETAILS.............................................................................................................................5 4. MODULE DETAILS...............................................................................................................................6 4.1 SESSION READING.................................................................................................................................18 5. ASSESSMENT DETAILS....................................................................................................................19 5.1 SUMMARY OF ASSESSMENT......................................................................................................................19 5.2 DETAILED DESCRIPTION OF ASSESSMENT....................................................................................................19 6. OTHER DETAILS................................................................................................................................21

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1. Welcome
Welcome to the exciting world of International Business Management! In this era of globalization, there are very few companies that can say that they are not part of a global network. Every firm has to think of itself as a global company, if for no other reason than because it has to meet competition from global companies. This changes the entire strategy of the firm. In the future, we expect that all of you will be involved in managerial decision making that will take you beyond the realms of your geographical territory. This course on International Business Management will have the focus on helping you make better international decisions. Aside from the opportunities offered by globalisation, there are also many risks in entering into the global market. This course will attempt to address, in a structured format, the ways and possibilities of addressing these risks. The basic philosophy behind this course is to develop a holistic understanding of international business, appreciating the risks, and developing competence in using tools to mitigate that risk. In order to extract the most benefit from this course you will need to be actively engaged. You will gain marks, up to 10% of the total score for the course, by attending and participating in tutorials. In lectures, you will be encouraged to join in lively conversations. Like the old adage has it: the more you put into it, the more you will get out of it! Dr Michael Wynn-Williams wm97@gre.ac.uk

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2. Introduction to the Course

This course has been designed to draw on many of the business techniques you have learned elsewhere and apply them in a variety of international contexts. You will learn how to handle the complexities of international business and develop appropriate strategies. We will start by looking at the opportunities for business offered by the international economic environment. We will then evaluate the risks of entering the international arena, using theories that have been developed to help formulate corporate internationalisation strategies. We will explore the the structures that firms may opt for as they expand into unfamiliar territories. At the end of this course you will have gained an international perspective on the challenges facing business managers. You will then be equipped to take your place alongside them.

Aims
To give students a clear insight into the major external environmental factors governing international business management. To provide an understanding of various management functions in an international context at both a conceptual and a practical level.

Learning Outcomes
2.2.1 Knowledge and understanding of: The rationale for 'going international'. Measuring and managing environmental risk. The rise of Foreign Direct Investment (FDI) horizontal and vertical FDI, managing host regulation of FDI. Managing strategic dilemmas. Relationship between modes of entry, environment and strategy. Managing international strategic alliances. Organisational structure and culture. Control systems and incentives in an international context. National and international accounting standards and the consequences of differing standards. Investment decisions and financing decisions. Techniques for global money management, managing foreign exchange risk. Human resource considerations in internationally-oriented companies.

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Managing international operations

2.2.2 Intellectual Skills: Breadth of Outlook: Students will be able to address management issues from an international perspective. Students will develop self-awareness, openness and sensitivity to cultural diversity in dealing with international business issues and people from different cultural backgrounds. Wisdom: Ability to present well balanced arguments in the context of management and international business theories. Appreciation of the impact of ambiguity on managerial decisions. Personal Effectiveness: Effective self-management in terms of time, planning, motivation, individual initiative and enter-prise. Effective performance within a team environment including leadership, team building, influencing and project management skills.

2.2.3 Subject practical skills: Abilities to conduct research into international business issues for a presentation and a review report. Familiarity with a range of research sources and ability to apply international business and management related theoretical frameworks.

Transferable skills: Critical Thinking: Be able to think globally and strategically in terms of identifying and solving business problems. The ability to create, evaluate and assess a range of options together with the capacity to apply ideas and knowledge to a range of situations. Information Management: Be able to search for, select and process relevant information guided by relevant theoretical frameworks. Communication Skills: Communicate effectively within group work and team activities. Be able to present concise and coherent ideas, oral or in writing, in a professional manner.

2.3 Learning and teaching activities

The course will be delivered through a weekly lecture and a tutorial. Lectures will provide a comprehensive conceptual framework of the all key areas of international management. Tutorials will focus on the discussion of case studies, the exploration of issues, and student presentations and will involve tutor led discussions, group work and role play. Directed and self-managed learning and research will take place outside lectures and tutorials. Students will work in groups of 4-5 for preparation and presentations.

3. Contact Details

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Room

Email address

Phone number

Course Leader Dr Michael Wynn-Williams Tutors ???? Admin Programme Coordinator

Alex Kubit-Hope

wm97@gre.ac.uk

0208 331 8920

????@gre.ac.uk

0208 331????

QM245

Ka77@gre.ac.uk

0208 331 9840

Please see your programme handbook for more detail

4. Module Details
TOPIC 1: Course Introduction and Foundations of International Business LEARNING OUTCOME for this module: Student will be able to: Recognise information sources with academic credibility Avoid plagiarism

EVIDENCE: Discuss the merits of different data sources and approaches to avoiding plagiarism.

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ACTIVITY:

Week beginning 19-Sep-11 26-Sep-11

Wk 1 2

Session Title and Description Welcome back 1.1: Course Introduction and assignment criteria Initial meetings, group allocation Reading Chapter 6 of the recommended course textbook DRS (Daniels, Radebaugh & Sullivan) Lecture and tutorial materials 1.2: International Trade Porters Diamond DRS Chapter 6 Lecture and tutorial materials 1.3: Import and Export Export options DRS Chapter 6 Lecture and tutorial materials

Staff member associated MWW Tutor

Lecture Seminar SelfStudy Moodle

3-Oct-11

Lecture Seminar SelfStudy Moodle

MWW Tutors

10-Oct-11

Lecture Seminar SelfStudy Moodle

MWW Tutors

RESOURCES: Course Handbook distributed in seminar groups and on the WebCT site Chapter 6 of Daniels, Radebaugh and Sullivan (DRS) International Business. Tutorial materials: download from Moodle DISCOURSE: Contribute actively during the tutorials and lectures.

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TOPIC 2: Risk Analysis for International Business LEARNING OUTCOME for this module: Student will be able to: Analyse the opportunities offered by international trade Identify the risks related to globalization Discuss the most important factors of balance of payments for investment purposes Analyse political risk factors Calculate the ERA (economic risk analysis) ratios

EVIDENCE: Problem based learning tasks during the lecture Tutorial activities: o o o o The opportunities and risks of globalisation for countries Calculation of the ERA ratios Analysis of political risk factors The application of Porters Five Forces model

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ACTIVITY: Week beginning 17-Oct-11 Wk 5

Lecture Seminar SelfStudy Moodle

Session Title and Description 2.1: Understanding the BOP system Classification and country risk analysis (CRA) DRS Chapter 6 Lecture and tutorial materials 2.2: Political Risk Analysis Political risk analysis tasks DRS Chapter 3 Lecture and tutorial materials 2.3 Economic Risk Analysis ERA for developing countries DRS Chapters 3 and 4 Lecture and tutorial materials 2.4: Positioning Risk Analysis Porters 5 Forces model Porter (2008) journal article Lecture and tutorial materials

Staff member associated Lecturer Tutors

24-Oct-11

Lecture Seminar SelfStudy Moodle

Lecturer Tutors

31-Oct-11

Lecture Seminar SelfStudy Moodle

Lecturer Tutors

7- Nov -11

Lecture Seminar SelfStudy Moodle

Lecturer Tutors

RESOURCES: Chapter 6, 3 and 5 of Daniels, Radebaugh and Sullivan (DRS) International Business. Porter (2008) The five competitive forces that shape strategy (WebCT download) Tutorial materials: download from Moodle DISCOURSE: Contribute actively during the tutorials and lectures.

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TOPIC 3: Regulations and Responsibilities LEARNING OUTCOME for this module: Student will be able to: Critically analyse the steps to free trade Evaluate the necessity for corporate social responsibility

EVIDENCE: Problem based learning tasks during the lecture Tutorial activities: o o ACTIVITY: Discussion steps to free trade Critically analyse the limits of corporate social responsibility

Week beginning 14- Nov -11 9

Lecture Seminar SelfStudy Moodle

Session Title and Description 3.1: The Regulatory Framework for Business Case study: two countries progress to FTA Free trade: ViamInvest (Moodle download)

Staff member associated MWW Tutors

21- Nov -11 10

Lecture Seminar SelfStudy Moodle

Lecture and tutorial materials 3.2: Corporate Social Responsibility MWW Fairtrade Tutors Nicholls and Opal Fair Trade (Google Books download) Lecture and tutorial materials

RESOURCES: Free Trade (ViamInvest) http://e.viaminvest.com/B10CompetitionInProductMarkets/App10PerfectMarketModel/Exhi _Perf_market_econ.asp Nicholls A & Opal C Fair Trade (Google Books) <http://books.google.co.uk/books? hl=en&lr=&id=Hmj6UlKhVDcC&oi=fnd&pg=PP10&dq=alex+nicholls+fair+trade&ots=5WbGN9Xk d1&sig=85eiXD_LeD3XfFsxZmp573_0j5A#v=onepage&q=&f=false> DISCOURSE: Contribute actively during the tutorials and lectures.

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TOPIC 4: International Growth and Operations LEARNING OUTCOME for this module: Student will be able to: Discuss the pros and cons of growth Critically analyse a diversification strategy Evaluate a foreign market entry decision Critically analyse different internationalisation strategies Deconstruct industry supply chains Apply Kotlers 4 Ps model Develop arguments concerning FDI from the point of view of corporations and governments EVIDENCE: Problem based learning tasks during the lecture Tutorial activities: o o o o Discussion of diversification strategies Evaluation of a foreign market entry Discuss the merits of various internationalisation strategies Draw up industry supply chains Use Kotlers 4 Ps model as a conceptual framework FDI by Unilever in Lesotho Mitsubishi Motors network of alliances and license agreements

o
o o

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ACTIVITY: Week beginning 28-Nov-11 Wk 11

Lecture Seminar SelfStudy

Session Title and Description 4.1: International Growth by Diversification DRS Chapter 13 Revision topics for individual essay assignment Revision topics for individual essay assignment Revision topics for individual essay assignment 4.2: Market Entry Decisions Case study: Vietnam market entry DRS Chapter 12 Read case study material (WebCT download) Winter Break 19 December 6 January

Staff member associated

5- Dec -11

12

Lecture Seminar SelfStudy

MWW Tutors

12- Dec -11 13

Lecture Seminar SelfStudy Moodle

MWW Tutors

9-Jan-12

17

Lecture Seminar SelfStudy Moodle

4.3: International Business Strategies Critical discussion: internationalisation strategies DRS Chapter 11 4.4: International Supply Chain Examination of industry supply chains DRS Chapter 17 4.5: International Marketing Application of Kotlers 4 Ps model DRS Chapter 16 4.6: Foreign Direct Investment Tripartite FDI decisions DRS Chapter 5 4.7: Global Strategic Alliances Strategic alliances in the automotive industry Case study material: Mitsubishi

MWW Tutors

16-Jan-12

18

Lecture Seminar SelfStudy Moodle

MWW Tutors

23-Jan-12

19

Lecture Seminar SelfStudy Moodle

MWW Tutors

30-Jan-12

20

Lecture Seminar SelfStudy Moodle

MWW Tutors

6-Feb-12

21

Lecture Seminar SelfStudy Moodle

MWW Tutors

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RESOURCES:

Chapters 11, 17 and 16 of Daniels, Radebaugh and Sullivan (DRS) International Business Management And Accounting Web (MAAW) <http://maaw.info/LearningCurveSummary.htm> Download Route <http://www.downloadroute.com/VALUE-CHAIN-ANALYSIS-MEGASOFTWARE-sqaki-com-16-VALUE-CHAIN-ANALYSIS-MEGA/image.html> Williamson O E (1981) The economics of organization: the transaction cost approach in

The American Journal of Sociology 87, 3, November 1981 pp548-577

DISCOURSE: Contribute actively during the tutorials and lectures.

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TOPIC 5: International Finance LEARNING OUTCOME for this module: Student will be able to: Complete a Balanced Score Card Critically analyse different financial evaluation tools Discuss the impact of currency devaluation

EVIDENCE: Problem based learning tasks during the lecture Tutorial activities: o o o ACTIVITY: Week beginning 13-Feb-12 Wk 22
Lecture Seminar SelfStudy Moodle

Complete a Balanced Score Card for the University of Greenwich Discuss the merits of NPV, IRR, pay-back period and cost-benefit analysis Identify the main factors involved in currency devaluation

Session Title and Description 5.1: International Accounting Balanced score card DRS Chapter 18 5.2: International Finance Financial evaluation tools DRS Chapter 19 5.3: Foreign Exchange Markets Case study: currency devaluation (WebCT download) DRS Chapter 9

Staff member associated MWW Tutors

20-Feb -12 23

Lecture Seminar SelfStudy Moodle

MWW Tutors

27-Feb-12

24

Lecture Seminar SelfStudy Moodle

MWW Tutors

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RESOURCES:

Chapters 18, 19 and 9 of Daniels, Radebaugh and Sullivan (DRS) International Business Balance Scorecard (Kaplan & Norton): <http://www.quickmba.com/accounting/mgmt/balanced-scorecard/> Foreign exchange risk <http://www.exinfm.com/board/foreign_exchange_risk.htm> Bank of International Settlements <http://www.bis.org/> BIS Triennial Review 2004-2007 <http://www.bis.org/publ/rpfxf07t.pdf>

Bank of Korea <http://eng.bok.or.kr/> Big Mac Index <http://www.economist.com/daily/chartgallery/displaystory.cfm? story_id=15210330>

DISCOURSE: Contribute actively during the tutorials and lectures.

TOPIC 6: Organisations and Culture

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LEARNING OUTCOME for this module: Student will be able to: Categorise national characteristics by cultural dimensions Analyse an MNE structure at the local level Discuss human resource management (HRM) issues

EVIDENCE: Problem based learning tasks during the lecture Tutorial activities: o Selection of a case study country and presentation of two indicative cultural dimensions o Analysis of a chosen case study company that illustrates structural adaptation to the local conditions, and the impact on the rest of the organisational structure o ACTIVITY: Week beginning 5-Mar-12 Wk 25
Lecture Seminar SelfStudy Moodle

HRM case study

Session Title and Description 6.1: Organisational Issues Student case study: MNE structure and adaptation DRS Chapter 15 6.2: International Culture and Dimensions Student presentation: two cultural dimensions DRS Chapter 2 6.3: International Human Resource Management DRS Chapter 20 Lecture and tutorial materials Course conclusions Topics for revision Revision for exam Spring Break 2 April 20 April

Staff member associated MWW Tutors

12-Mar-12

26

Lecture Seminar SelfStudy Moodle

MWW Tutors

19-Mar-12

27

Lecture Seminar SelfStudy Moodle

MWW Tutors

26-Mar-12

28

Lecture Seminar SelfStudy Moodle

MWW Tutors

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RESOURCES:

Chapters 2, 15 and 20 of Daniels, Radebaugh and Sullivan (DRS) International Business Ailon G (2008) Mirror, Mirror on the Wall: Culture's Consequences in A Value test of Its Own Design in The Academy of Management Review Vol. 33, No 4 / 2008 pp.885 - 904 McSweeney, Brendan (January 2002). Hofstede's Model Of National Cultural Differences And Their Consequences: A Triumph Of Faith - A Failure Of Analysis in

Human Relations 55 (1): pp.89118.

DISCOURSE: Contribute actively during the tutorials and lectures.

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TOPIC 7: Revision LEARNING OUTCOME for this module: Student will be able to: Request revision assistance and actively engage in the topics

EVIDENCE: Student feedback

ACTIVITY: Week beginning 23-Apr-12 Wk 32

Lecture Seminar SelfStudy Moodle

Session Title and Description Revision Revision Revision Revision Revision Revision Revision Revision 14 May 1 June Exam period

Staff member associated

30-Apr-12

33

Lecture Seminar SelfStudy Moodle

RESOURCES: Module resources Course reading list

DISCOURSE: Prepare questions and request revision focus.

4.1 Session Reading

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Reference Daniels, Radebaugh & Sullivan (DRS) International Business. London: Pearson Porter (2008) The five competitive forces that shape strategy Morrison J (2006) The international business environment: global and local marketplaces in a changing world. Basingstoke: Palgrave Wynn-Williams M (2009) Surfing the Global Tide. London: Palgrave

Key aspects to consider Core text. In particular Chapters 1, 3, 4, 6, 11 to 13 and 15 to 19 Download from WebCT
Recommended alternative to DRS.

Available in the library. Overview of globalisation and alliances in the automobile industry. Hill C and Hernandez-Requejo W (2011) Global Recommended alternative to DRS. Business Today. NY: McGraw-Hill/Irwin Other reading material as listed under the Resources section of each topic (see section above)

5. Assessment Details
Individual Essay - 30% 3,000 words (+/- 10%). An essay in response to a topic chosen from a given list (see below). Exam - 60% 3 hours. A closed book exam consisting of a case study and some essay type questions. Attendance - 10%. Attendance and participation is required at every tutorial. Minimum course pass mark - 40%.

5.1 Summary of assessment

Assessment Title Tutorials Essay Examination Weight towards final grade 10% 30% 60% Pass Mark Length Due Date Every week 14.12.11 3PM May 2012 Return Date Header Sheet #

40% NA overall 3,000 3 Hours

NA NA 10.01.12 NA NA

5.2 Detailed description of assessment

1. Performance in tutorials: tutorials and seminars are an important part of your understanding of the course. Your performance will be assessed by your tutor both in terms of physical attendance, participation and preparedness. A maximum of 10% contributes to the overall course grade:

0.5 marks per attendance, maximum 7 marks 1 mark for engaging in the tasks

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 1 mark for contributing ideas to the discussions 1 mark for making contributions that lead the discussions

2. Essay: all students are to write an essay as part of the course assessment. The essay topics and evaluation criteria are listed below. Students are required to submit their essay electronically by 14th December 2011 (3pm). 3. Examination: the examination, held in May 2012, will be a comprehensive 3 hour closed-book examination aimed at evaluating the students understanding of the entire course. Students may refer to the past years examination papers as a guide to preparation. Copies of previous examination papers can be found on the Student Portal.

5.2.1

Essay Topics

Choose ONE of the following six topics for your essay. The essay should be no longer than 3,000 words (+/- 10%) and submitted, with a header sheet, by 14th December 2011 (3pm). Each response should demonstrate understanding of the relevant theory, with application to examples. Students should make all efforts to avoid plagiarism by reading and reflecting on the information sources before committing their own thoughts to paper; there is never a reason to copy, although quotations may be occasionally appropriate. It is recommended that students should take note of the Turnitin similarity score when they submit. Correct Harvard style referencing should always be used. Topics: 1. As a management consultant advising a country of your choice, explain how you can use Porters Diamond model to evaluate and improve the nations competitive position. 2. With reference to specific examples, explain the risks facing companies when exporting and discuss the various roles played by intermediaries. 3. The recent global recession has shown that some countries show an imbalance between their exports and their imports. Using companies of your choice as examples, show how trade deficits and surpluses bring both risks and opportunities for businesses. 4. Discuss the ways in which political risk may impact on companies of your choice. How can a company evaluate these risks before entering a market? 5. With reference to a specific company of your choice, how can Porters Five Forces model be used when evaluating a new market?

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6. Despite the apparent support for global free markets, explain why there are so many organisations that are responsible for regulating world markets. Identify these organisations and suggest how they can benefit companies of your choice.

Marks allocated to criteria:

20% 30%

Criteria
Focus Does the essay address the central problem? Does the essay stay within the topic parameters? Synthesis Does the essay bring together the literature in a significant manner that addresses the question? Is the relevant theory critically addressed? Comprehension Does the essay indicate a comprehensive understanding of the topic area and literature discussed? Essay structure Is the essay well organised and logically constructed? Style Is the essay clearly written, spell checked and grammatically sound and referenced appropriately?

30% 10% 10%

6. Other Details
The majority of information relevant to you while you study at the University has been brought together into your programme handbook. Please refer to your programme handbook for any further information you might require including methods of submitting assignments, advice and administrative procedures.

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