MGT-350 International Business

Course Description: 
Examines the theoretical foundations of international trade and investment, the role of government in international business; cultural, political and legal issues; the international economic and financial environment; and issues in management, marketing, finance, and human resources management, with a brief overview of international accounting and taxation. U.S. and FSM business perspectives are given special emphasis.

  • Prerequisite Courses: BU260, EC220 or EC230

A.  PROGRAM LEARNING OUTCOMES (PLOs): 
 The student will be able to:

  1. Demonstrate an understanding of basic concepts in organizational behavior, including things such as personality, individual differences, motivation, leadership, conflict, communication, group dynamics, power and politics, change, organizational structure, design and culture and cultural diversity by explaining how these concepts relate to performance and job satisfaction in the organization.
  2. Demonstrate an understanding of the intricacies of marketing planning and overall marketing strategy; the sequential nature of marketing and the importance of monitoring mechanisms; and the scope of comprehensive marketing in light of current technological developments.
  3. Demonstrate an understanding of the concepts underlying corporate financial decision-making – such as capital structure, capital budgeting, short-term asset management, dividend policy, financial analysis, corporate restructuring – and how these decisions affect other areas of the firm.
  4. Demonstrate an understanding of the role of entrepreneurship and small business in the (FSM) economy and show competence in basic business planning and in identifying opportunities and challenges that entrepreneurs and small business owners/managers face – both in FSM and in general – in trying to achieve their business objectives.
  5. Demonstrate basic knowledge of international business by discussing its importance and explaining its theoretical foundations. The student will also be expected to describe the international economic and financial environment; the role of government, culture, politics and laws in international business; and analyze issues in management, marketing, finance, human resources, accounting and taxation.
  6. Demonstrate an understanding of economic development issues faced by least developed countries (LDCs) and options for development. Such issues will include, among others, foreign aid to LDCs, unemployment, urbanization and population growth, all with special emphasis on FSM.
  7. Demonstrate an understanding of statistical methods of sampling and estimating population statistics and competence in using computer software to calculate point estimates and confidence intervals and use statistical methods to test hypotheses, recognize trends and make forecasts to support decisions in the business/economics environment.

B.  STUDENT LEARNING OUTCOMES (SLOs)- GENERAL:
The student will be able to:

  1. Demonstrate an understanding of 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.
  2. Demonstrate an understanding of international market entry; and issues in management, marketing, finance, and human resource management, with a brief overview of international accounting and taxation; and special emphasis on U.S. and FSM business perspective.

SLO

PLO1

PLO2

PLO3

PLO4

PLO5

PLO6

PLO7

1

 

 

 

 

I

 

 

2

 

 

 

 

I,D,M

 

 

I = Introduced
D = Demonstrated
M = Mastered

C.  STUDENT LEARNING OUTCOMES (SLOs)-SPECIFIC: 
The student will be able to:

General SLO 1. Demonstrate an understanding of 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.


Student Learning Outcomes

Assessment Strategies

1.1 Define international business, discuss its impact on the nation, and outline the opportunities and challenges it creates.

Comparison of the results of pretest and post-test.

1.2 Define culture and explain the various elements of culture – cultural universals – and how they impact international business.

Comparison of the results of pretest and post-test.

1.3 Analyze the sources of cultural knowledge and name various ways in which it can be acquired.

Comparison of the results of pretest and post-test.

1.4 Discuss the role of international business as a change agent.

Comparison of the results of pretest and post-test.

1.5 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.

Comparison of the results of pretest and post-test.

1.6 Assess the importance of the political and legal environments in both the home and host countries to the international business manager.

Comparison of the results of pretest and post-test.

1.7 Explain how governments affect business through legislation and regulations.

Comparison of the results of pretest and post-test.

1.8 Explain how the political actions of countries expose firms to international risks.

Comparison of the results of pretest and post-test.

1.9 Examine the different laws and treaties regulating international trade in different countries.

Comparison of the results of pretest and post-test.

1.10 Discuss the traditional arguments of how and why international trade improves the welfare of all countries.

Comparison of the results of pretest and post-test.

1.11 Examine the criticisms of classical trade theory as the basis for the evolution of alternative viewpoints.

Comparison of the results of pretest and post-test.

1.12 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.

Comparison of the results of pretest and post-test.

1.13 Outline the similarities and differences between international trade and international investment.

Comparison of the results of pretest and post-test.

1.14 Explain the fundamental principles of how countries measure the balance of payments.

Comparison of the results of pretest and post-test.

1.15 Identify the similarities, differences and relationship between the current and capital accounts of the balance of payments.

Comparison of the results of pretest and post-test.

1.16 Identify the critical differences between merchandise trade and services trade.

Comparison of the results of pretest and post-test.

1.17 Examine the role of exchange rate changes in altering the balance of trade and the balance of payments.

Comparison of the results of pretest and post-test.

1.18 Explain how currencies are traded and quoted on world financial markets.

Comparison of the results of pretest and post-test.

1.19 Describe the link between interest rates and exchange rates.

Comparison of the results of pretest and post-test.

1.20 Compare and contrast domestic and international sources of capital.

Comparison of the results of pretest and post-test.

1.21 Explain how the debt crises of the 1980’s and 1990’s are linked to the international financial markets and exchange rates.

Comparison of the results of pretest and post-test.

1.22 Discuss the various types of economic integration among countries and assess the costs and benefits of such integration

Comparison of the results of pretest and post-test.

1.23 Describe the structure of a major integrated market (e.g. EU, NAFTA) and its implications for firms within the outside the region.

Comparison of the results of pretest and post-test.

1.24 Explore the emergence of other integration agreements especially in the Americas, Asia, and Africa.

Comparison of the results of pretest and post-test

General SLO 2. Demonstrate an understanding of international market entry; and issues in management, marketing, finance, and human resource management, with a brief overview of international accounting and taxation; and special emphasis on U.S. and FSM business perspective.


Student Learning Outcomes

Assessment Strategies

2.1 Describe the need for business research and highlight the differences between domestic and international research.

Comparison of the results of pretest and post-test.

2.2 Demonstrate how to find and use various sources of secondary information and how to gather primary data.

Comparison of the results of pretest and post-test.

2.3 Describe a firm’s gradual process of internationalization and explain the strategic effects of internationalization on the firm.

Comparison of the results of pretest and post-test.

2.4 Explore various modes of entering the international market including, cooperative market development, and the role and functions of international intermediaries.

Comparison of the results of pretest and post-test.

2.5 Outline the process of strategic planning in the context of the global marketplace and critically examine the external and internal factors involved.

Comparison of the results of pretest and post-test.

2.6 Discuss how markets for international expansion can be selected, their demand assessed, and appropriate strategies for their development devised.

Comparison of the results of pretest and post-test.

2.7 Describe how environmental differences generate new challenges for the international marketing manager.

Comparison of the results of pretest and post-test.

2.8 Compare and contrast the merits of standardization versus localization strategies for country markets and of regional versus global marketing efforts.

Comparison of the results of pretest and post-test.

2.9 Discuss market-specific and global challenges facing the marketing functions: product, price, distribution, and promotion within both the traditional and e-business dimensions.

Comparison of the results of pretest and post-test.

2.10 Demonstrate how international business changes the traditional financial management activities of the firm.

Comparison of the results of pretest and post-test.

2.11 Discuss the three primary currency exposures that confront the multinational firm and how management can manage or hedge some of these exposures.

Comparison of the results of pretest and post-test.

2.12 Highlight differences in accounting practices across countries, and show the effect of these differences on the competitiveness of firms.

Comparison of the results of pretest and post-test.

2.13 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.

Comparison of the results of pretest and post-test.

2.14 Describe the challenges of managing personnel both in international operations.

Comparison of the results of pretest and post-test.

2.15 Examine the sources, qualifications, and compensation of international managers.

Comparison of the results of pretest and post-test.

2.16 Assess the effects of culture on managers and management policies

Comparison of the results of pretest and post-test.

D.  COURSE CONTENT

  1. The role and need for international business
  2. The role of culture on global business
  3. How national trade and investment policies influence international business
  4. Political and legal issues in international business
  5. The various types of integrative agreements and the economic integration
  6. International trade theory and its extensions into international investment and strategy
  7. The measurement of a nation’s international economic activity
  8. The international financial system
  9. The dimensions of multinational financial management
  10. The framework on how to globalize
  11. The basics of international marketing, promotion, and distribution
  12. The basics of international management

E.  METHODS OF INSTRUCTION
Lectures, student discussion, projects and guest speakers.

F.  REQURIED TEXT(S) AND COURSE MATERIALS
Czinkota, M. R, Ronkaineen, I. A., & Moffett, M. H. (2004), Fundamentals of International Business. Cincinnati: South-Western Publishing, (or most recent edition).

G.  REFERENCE MATERIALS
Supplementary handouts pertaining to the FSM international business will also be used.

H.  INSTRUCTIONAL COSTS
None

I.   EVALUATION
None

L.  CREDIT BY EXAMINATION
None

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