International Business outline (2016)

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

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Course Title:

International Business

(Fall

Instructor:

Professor Jung Ho KIM (GSIS, Korea University)

Term 2016)

[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. Several 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, Far Eastern Economic Review, The Financial Times, and the Asian Wall Street Journal. 1

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

Course Schedule 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 and Socio-Cultural Environments Facing Business 2

3

References

D&R, Chapter 2, 3 Case Title Urbanizing China (HBS Case 713037) Lecture Theme Analysis of Industry Environments Reference

D&R Chapter 12 Lecture Theme Strategies for International Business References

4

5

6

7

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 Reference

D&R, Chapter 5 Case Title FDI in China (HBS Case 701061) Lecture Theme Country Evaluation and Selection for Operations Reference

D&R, Chapter 13 Theme Mid-Semester Examination (Closed-book, In-class, Scheduled, Written Examination) References

Covers all topics discussed in classes 1-6. Lecture Theme Export and Import Strategies 8

Reference

D&R, Chapter 14 Lecture Theme Collaborative Strategies 9

Reference

D&R, Chapter 15 2

10

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. Case Title Renault-Nissan Alliance (HBS Case 303023) Lecture Theme International Marketing (1) Reference

D&R, Chapter 17 Lecture Theme International Marketing (2) 11

Reference

P. Sharma, “Country of Origin Effects in Developed and Emerging Markets,” Journal of International Business Studies, 42:2, 2011, pp.285-306. Lecture Theme Global Manufacturing and Supply Chains 12

Reference

D&R, Chapter 18 Theme Group Presentations 13

Group presentation day. All groups should prepare PPTs for the presentation. The group presentations will be peer-evaluated. Lecture Theme Organization and Governance of Foreign Operations References

14

15

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 (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.

3

Performance Evaluation Category

%

Mid-Semester Examination (Written)

25

End-of-Semester Examination (Written)

25

Presentation (Group)

15

Term Report (Group)

15

Continuous Assessment of Everyday Performance in Class

20

Grading Criteria, etc. 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. 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. There is one group Presentation assignment for this course. There is one group Term Report assignment for this course, based on the group presentation. Level of preparation for class, sincere attitude for learning and good attendance also matters. Attendance counts for ten (10) percent of the grade as it is necessary to be in class to participate in the class discussions. Two (2) full points will be deducted for each absence. Lateness of more than 30 minutes for a class will be deducted one (1) point. Medical reasons with a written doctor’s note are the only excuses allowed. Contribution to class discussions account for the remaining ten (10) percent. Significant comments that help better understanding of the topic at hand and strong class preparation will be awarded.

Other

I will hold regular Office Hours each week in my office (International Studies Hall Room 536) to meet students. 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. 4