MKTG 442: International Business
Prerequisites: Junior standing, MKTG 340 and FINC 331
Credit Hours: (3)
A study of the theories, institutions and trends in international trade and investment. Emphasis placed on the environment within which international business is practiced and the opportunities and challenges managers face in doing business across national boundaries.
Detailed Description of Content of the Course
The course provides the students with an opportunity to develop a broad understanding of international business. Students are expected to incorporate the fundamentals of accounting, economics, finance, management and marketing into the overall framework of an international business. The material in the course covers those subjects which are generally considered appropriate for an undergraduate course in international business. Class lectures are normally supplemented by student discussion of cases assigned as homework. By using actual cases, students are expected to learn how to analyze the world business environment and market patterns and to understand how top management develops corporate strategy and policy in an international environment.
Topics covered in this course include:
• International trade and foreign investment
• Economic theories
• International organizations
• The international monetary system and balance of payments
• Forces in international business including financial, economic and socioeconomic, physical, socio-cultural, political, legal, labor, competitive and distributive.
• Market assessment and analysis
• Marketing internationally
• Exporting and importing
• East-West relations
• Financial management
• Production systems
• Labor and management
• Planning, organizing, control and staffing
Detailed Description of Conduct of the Course
The course can be conveniently viewed in the form of four sections. The first relates to the nature of international business and provides the student with an understanding of the origin and history of international trade and foreign investment. The growing importance of international business in today's global environment and the impact of economic theories on international trade, development, and investment are also addressed. The students' knowledge of economics, Management, and Marketing are brought into play in analyzing and comprehending current issues that confront international businesses.
The second section addresses the international environment with specific focus on international organizations and the monetary system. Students are required to submit written analyses of case studies that attempt to model conditions found in the international business environment. These three- to-five page case analyses are further supplemented by oral presentations and subsequent class discussions.
The third part of the course is aimed at gaining comprehension of the Foreign Environment. The various forces that contribute to the complexity of this environment are addressed at length. Included are financial, economic and socio- economic, physical, socio-cultural, political, legal, and labor forces. Students are required to make both oral and written submissions of case studies and problems that are more diversified and integrative in nature when compared to the second part.
The fourth section of the course relates to how management deals with environmental forces. Issues pertaining to market assessment and analysis, export and import procedures, and international marketing are addressed. Students are exposed to an understanding of the vagaries of East-West Relations as well as the management and policies regarding labor relations. The course ends with an investigation of strategic planning and organizational design on the framework of international business and a glimpse into future trends and new directions.
Goals and Objectives of the Course
After completing this course the student should be able to:
1. Describe the history and scope of international business.
2. Discuss international trade concepts and theory.
3. Analyze the world business environment and world market patterns.
4. Evaluate the role of top management in developing corporate strategy and policy in an international environment.
The students' success in the course is measured by a combination of tests, quizzes and examinations, case study analyses and presentations, and/or term projects.
Other Course Information
Review and Approval
10-18-04, reviewed and approved by the Dept. of Management and Marketing faculty
April 13, 2012 Revised