International Business Relations Spring 2018

success, many of which continue to be neglected in ongoing studies. The main objectives of this course are as follows: 1) Introduce a new framework to...

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International Business Relations Spring 2018 Hwy-Chang Moon ([email protected]) Yeonwoo Lee ([email protected])

Class Time: Mon 1:30 – 4:20 pm Classroom: Bldg. 140-2, Rm 202 Office Hours: Mon 4:30 – 5:30 pm, Tues 1:25 - 2:25 pm or by Appointment Office: Bldg. 140-2, Rm 311 or Rm 306

Course Description

• This course deals with the sources of international business competitiveness that formulate government policies and business strategies, with a special focus on the key factors behind Korea’s accelerated growth over the past 50 years. • Existing Western theories cannot fully explain Korea’s economic and business development because these theories were established under a different political, economic, and social system. • This course addresses the fundamental driving forces behind Korea’s success, many of which continue to be neglected in ongoing studies. The main objectives of this course are as follows: 1) 2) 3)

Introduce a new framework to better explain the strategies of how to enhance competitiveness. Review the background of Korea’s growth in detail and apply this new framework to better explain Korea’s success. Evaluate Korea as a case study to provide useful guidelines for other countries and firms. 2

Grading Policy • Grading [total 100%] - Professionalism: Attitude, attendance, and participation: 25% - Weekly summary of readings for each class (Total 12 summaries): 25% - Group presentation(s): 25% - Final exam: 25% • Professionalism (25%) - Students should attend all classes. Those who miss more than two classes may not receive a grade. Tardiness and class disturbances may be reflected in the grade. - Students are also required to know the Honor Code and apply it to all work and behavior in the class. • Weekly summary (25%) - Students are required to submit a one-page summary based on the assigned chapter for Classes 2 through 14 (12 total). Summaries should be submitted via email to [email protected] and [email protected] at least 24 hours before class (by 1:30 pm on Sunday). - The weekly summary should (i) discuss what you think is the most interesting in the readings, and (ii) provide constructive criticism and variant views. The one-page summary should be approximately 400 to 500 words in length. 3

Weekly Summary Format

• Please title both of your email and file name as: “IBR Weekly Summary_Class #_ Your Full Name.” Your full name Week number: Section name (e.g., Week 2: Korea’s Economic Success: Myth or Reality? ) • Summary of the article(s) • Uniqueness • Main points • Evaluation • Constructive evaluation • Possible extension

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Grading Policy

• Group Presentation (25%) -

In the first sessions of each class, the group will give the class presentation of important points from the class readings and other related information and research.

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The group should submit the presentation PPT file at least 24 hours before the class of its presentation, therefore no later than Sunday 12:30pm on the group’s presentation week.

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The group should prepare PPT handouts for all the students, teaching assistant(s), and the professors (preferably 4 slides per page).

• Final exam (25%) -

It will take two hours with open books and notes in the last class (Class 15).

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Further instructions may be given prior to the final exam.

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Course Materials

Required Reading(s): • Moon, H.C. (2016). The Strategy for Korea’s Economic Success. New York: Oxford University Press

Recommended: • Cho, D.S. and Moon, H.C. (2013). From Adam Smith to Michael Porter: Evolution of Competitiveness Theory, extended edition. Singapore: World Scientific - Students should read the materials before class, so class meetings can be used for discussion rather than for straight lecture.

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Course Schedule

• Class 1: (Mar 5) Introduction • Course guideline • Strategic thinking in international business today: Learning from Korea’s experience

• Class 2: (Mar 12) Korea’s Economic Success: Myth or Reality? • Chapter 1: Foundations of Korea’s Economic Development - Education, chaebol, and industrial policy • Student introduction: One-page C.V. with photo - Groups will be formed

• Class 3: (Mar 19) Government Leadership • Chapter 2: Korean Government Leadership for National Growth - Major policies and their developments by Korea’s presidents

• Class 4: (Mar 26) Business Leadership • Chapter 3: Korean Business Leadership for Corporate Growth - CEOs of POSCO, Samsung, and Hyundai 7

Course Schedule

• Class 5: (Apr 2) New Analytical Framework: The ABCD Model • Chapter 4: The ABCD Model: The Success Factors of Korea’s Economic Success - Basic concepts and introduction of the model

• Class 6: (Apr 9) ABCD Model – Theory • Chapter 5: The ABCD Model: Theoretical Foundation - Evolution from existing business and economic theories

• Class 7: (Apr 16) ABCD Model – Case Studies • Chapter 6: The ABCD Model: Applications to Korea’s Three Successful Firms - POSCO, Samsung Electronics, and Hyundai Motors

• Class 8: (Apr 23) International Competitiveness – Nation • Chapter 7: Internationalization at the National Level - Open door policies and opportunity for growth

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Course Schedule

• Class 9: (Apr 30) International Competitiveness – Business • Chapter 8: Internationalization at the Firm Level - From trade to global value chain (GVC) approach

• Class 10: (May 7) Holiday • Class 11: (May 14) Global Mindset • Chapter 9: Understanding Internationalization from a Cultural Perspective - Understanding the role of internationalization

• Class 12: (May 21) Korea in the Future • Chapter 10: New Challenges in Korea - Problems of aging, sociopolitical sector, and service industry

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Course Schedule

• Class 13: (May 28) Korea’s Sustainability • Chapter 11: Upgrading Korea’s Competitive Advantages - The role of innovation and differentiation

• Class 14: (Jun 4) Implications for Other Areas • Chapter 12: The Generalization of the ABCD model - Applying the ABCD model to other countries and firms

• Class 15: (Jun 11) Final Exam • Final Exam (Open book/note)

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