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Course Description:
This course aims to inspire new business ideas and guide students to discover their capabilities towards creative business ideas. Another focus is to learn how to handle uncertainties and changes in the global business environment and conduct business in 'other' cultural contexts such as in the newly emerging markets, BRICS/MINT. Among others, repercussions of the global power shifts, the rise of multipolarity and the expanding populism with authoritarian tendencies, and therefore wide-spread hybrid governance regimes nationally, regionally as well as globally, and last but not least, the outbreak of the novel pandemic (COVID19) since late 2019 are also partly covered in the seminar.
Learning Objectives:
Through extensive readings on the given topics and selected case studies from different (emerging) economies and (goods and services) sectors (i.e., IT, retail chains, pharmacy, textile, food), participants will be guided to understand the nature of conducting business in the global landscape. One particular emphasis is on what makes international different from domestic — the effects of the social systems within countries in conducting global business, the dynamic interface between countries and companies attempting to conduct foreign business activities, corporate strategy alternatives for global operations.
Learning Outcomes:
Students will be able to
- understand different business-oriented challenges in an international environment,
- examine various cultural, political and legal issues that impact international business activity,
- examine international institutions and practices that impact international business,
- understand trade and investment theory,
- appreciate the interaction of business and government as they relate to international commerce,
- develop insight into the management implications of international business strategy and operations.
Key Terms: Globalization, national differences in economy, politics, culture, international economy, global production chains, outsourcing and logistics, foreign direct investment (FDI), foreign exchange market, international business strategy (i.e., entry-exit strategy, strategic alliance, mergers and acquisition-M&A)
Prerequisites: None
Teaching Strategy:
The lecture will be handled chiefly through PowerPoint presentations. Active participation and interactive class discussion are strongly motivated.
Course Evaluation:
Evaluation will involve active participation in the lectures, presentation performance (depending on the number of students, one or two presentations), and one final exam (materials will be open access).
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