Course Title: International Business (Spring Term, 2018

In this interdependent global economy, ... PDF versions of the lecture notes will be provided one week before class so that ... The Political Environm...

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Course Title:

International Business

(Spring Term, 2018)

Instructor:

Professor Jung Ho KIM (GSIS, Korea University)

[email protected]

Course Outline A fundamental shift has occurred in the world economy. We currently live in a world in which national economies are merging into an interdependent global economic system. In this interdependent global economy, business operations have become increasingly multinational in nature. Not only are the suppliers, consumers and competitors more multinational in nature, the whole business environment has become multinational. Managers in almost every industry consider ever more distant places as sources of supplies and markets. For businesses, this creates a whole array of new opportunities. At the same time, going multinational presents unique challenges. Since the rules of the game such as laws, customs, and business practices are different from country to country, business people must consider additional parameters when they develop their business strategy. The company will engage in modes of business which differ from those it uses domestically. Optimum ways to conduct business may differ amongst countries in which the firm operates. Course delivery in this class includes lectures, case discussions, and presentations. This combination of teaching methods will introduce the theoretical concepts and illustrate how they are applied to actual international business situations. The lectures define the broad issues to be studied. The main textbook will provide more detailed understanding of the concepts and issues at hand. Two Harvard Business School cases on International Business in the East Asian context will also be utilized during class. Active student participation is required for the case discussions.

Course Objectives The goal of this course is to help the student achieve an understanding of the international environment in which businesses compete and the different modes of entry by multinational enterprises. It also aims to help the student develop skills in analyzing competitive forces in global industries where many of the major competitors are from East Asia, and in understanding the different ways in which a firm can accomplish its global objectives. Specific topics such as imports, exports, foreign direct investment, collaborative arrangements, international marketing, global manufacturing, and supply chain management will be considered.

Recommended Preparatory Study It is expected that the students read all reading assignments prior to the lectures. Students are expected to be fully prepared for each class and contribute actively to the learning process. Forming a study group and reviewing the class materials after each lecture will prove beneficial for better understanding of the extensive coverage of this course. PDF versions of the lecture notes will be provided one week before class so that students can concentrate on the lecture and discussions rather than taking notes. The lecture notes are subject to intellectual property rights and should not be distributed to others not enrolled in the class under any circumstances. The students are also expected to have read and analyzed the cases assigned carefully before class so that the discussions are focused and productive. Study questions will be provided to help guide the preparation. Also, the world constantly changes in many and often unpredictable ways. It is recommended that the student read a good business publication on a regular basis and stay aware of the changing conditions in the international business environment. Recommended are Fortune, Business Week, Economist, Forbes, The Financial Times, and the Asian Wall Street Journal. 1

Textbook The main textbook for the course will be: (Edition might change over the winter if updated.) Title: International Business: Environments and Operations (15th edition, 2014/09) Authors: John Daniels, Lee Radebaugh and Daniel Sullivan. Publisher: Pearson.

Course Schedule (subject to minor changes) Class

Theme and References Lecture Theme

1

Introduction to International Business: An Overview The Political Environments Facing Business

References

D&R, Chapter 1, 2 Lecture Theme The Legal, Socio-Cultural, and Competitive Environments Facing Business 2

References

D&R, Chapter 2, 3 Lecture Theme Strategies for International Business References

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D&R, Chapter 12 F. Root, “Designing Entry Strategies for International Markets” in Entry Strategies for International Markets, John Wiley & Sons, 1994, pp.1-23. O. Gadiesh and T. Vestring, “The Consequences of China’s Rising Global Heavyweights,” MIT Sloan Management Review 49:3, 2008, pp.10-11. Lecture Theme Foreign Direct Investment (1) Reference

D&R, Chapter 5 Lecture Theme Foreign Direct Investment (2) Group Presentations on FDI Inducement Policies of Select Developing Countries 5

Reference

Cohen, S., 2007, Multinational Corporations and Foreign Direct Investment: Avoiding Simplicity, Embracing Complexity, Oxford University Press. pp. 62-113. Lecture Theme Country Evaluation and Selection for Operations 6

Reference

D&R, Chapter 13 Lecture Theme Export and Import Strategies 7

8

Reference

D&R, Chapter 14 Theme Mid-Semester Examination on April 23rd (Closed-book, In-class, Scheduled, Written Examination) References

Covers all topics discussed in classes 1-7. 2

Lecture Theme

9

Collaborative Strategies (1)

Reference

D&R, Chapter 15 Lecture Theme Collaborative Strategies (2) Case Study #1 References

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11

M. Chen, “Unlocking Joint Venture Potentials in China,” in Asian Management Systems, Routledge, 1995, pp.279-292. G. B. Awuah & A. Mohamed, “Impact of Globalization: The Ability of LDCs’ Firms to Cope with Opportunities and Challenges,” in European Business Review 23:1, 2011, pp.120-132. Lecture Theme International Marketing (1) Reference

D&R, Chapter 17 Lecture Theme International Marketing (2) Global Manufacturing and Supply Chains 12

References

D&R, Chapter 18 P. Sharma, “Country of Origin Effects in Developed and Emerging Markets,” Journal of International Business Studies, 42:2, 2011, pp.285-306. Theme Group Presentations on Actual Market Entry Cases Reference

13

Group presentation day. June 4th Reference

D&R, Chapter 19 Lecture Theme Organization and Governance of Foreign Operations Case Study #2 References

14

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D&R, Chapter 16 Y. Peng, O. Shenkar, et. al., “Cultural Differences, MNE Learning Abilities, and the Effect of Experience on Subsidiary Mortality in a Dissimilar Culture: Evidence from Korean MNEs,” Journal of International Business Studies 44, 2013, pp.42-65. Theme In-class Final Examination on June 18th (Closed-book, In-class, Scheduled, Written Examination) References

Covers all material discussed in the lectures after the mid-semester examination.

Note The readings listed as D&R in the Class Schedule refers to International Business: Environments and Operations (15th edition, 2014/09) by John Daniels, Lee Radebaugh and Daniel Sullivan. (Please note that the edition might change if a new edition is made available over the summer.) The TA for this course is Julie Han (한규리). She can be reached at [email protected] The TA’s office is in Room 325, International Studies Hall.

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Performance Evaluation Category

%

Grading Criteria, etc.

35

There will be one (1) in-class closed-book written examination during the mid-term examination period. The examination is 120 minutes long and covers all material covered in class and/or included in the assigned readings. The purpose of the examination is to make sure that the students have read and fully understood the course materials. Questions will be based on the contents of the assigned materials (including the PDF files distributed) and lectures. Part A consists of multiple-choice questions and Part B consists of several short-essay type questions. (More details will be announced in class prior to the examination.) No make-up examinations will be scheduled.

End-of-Semester Examination (Written)

35

There will be one (1) in-class closed-book written examination during the final examination period as well. Again, the examination is 120 minutes long and covers all material covered in class after the mid-term examination and/or included in the assigned readings. The purpose of the examination is to make sure that the students have read and fully understood the course materials. Questions will be based on the contents of the assigned materials (including the PDF files distributed) and lectures. Part A consists of multiple-choice questions and Part B consists of several short-essay type questions. No make-up examinations will be scheduled.

Presentation (Group)

20

There is one group Presentation assignment for this course (on one of the following dates: April 2nd, June 4th)

Term Report

0

There is NO Term Report assignment for this course.

10

Level of preparation for the case discussion class, sincere and active participation. Significant comments that help better understanding of the topic / case at hand will be awarded.

Mid-Semester Examination (Written)

Case Discussions

Other

I will hold regular Office Hours each week in my office (International Studies Hall Room 536) to meet students. The office hours for the spring semester in 2018 are: Monday 13:00-13:50 and Wednesday 09:00-10:00. In case of student class schedule conflicts with the regular office hours, the student should send an e-mail to [email protected] and set up a separate appointment.

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