Unit 1014: International Business Fundamentals

1. Overview of International Business

• Definition and scope of international business
• Importance in the global economy
• Evolution and historical context
• Key drivers of international business: technology, market expansion, cost factors
• Challenges and opportunities in international business

2. Cultural Factors in International Business

• Understanding culture and its dimensions (Hofstede’s model, Hall’s context theory)
• Impact of culture on business operations
• Communication styles across cultures
• Negotiation practices and cultural adaptations
• Strategies for managing cultural differences and building intercultural competence

3. Globalization and Trade Theories

• Concept and process of globalization
• Classical trade theories: Absolute advantage, Comparative advantage
• Modern trade theories: Heckscher-Ohlin, New Trade Theory
• Role of international organizations: WTO, IMF, World Bank
• Effects of globalization on business strategies

4. Entry Modes in International Business

• Overview of market entry strategies
• Exporting: direct and indirect
• Licensing and franchising
• Joint ventures and strategic alliances
• Foreign direct investment (FDI)
• Advantages, disadvantages, and risk considerations for each mode

5. International Marketing and Market Entry Strategies

• Unique aspects of international marketing
• Conducting international market research
• Market segmentation, targeting, and positioning (STP) in global contexts
• Developing global marketing strategies and adaptation vs. standardization
• Market entry strategy formulation and decision-making process

6. Global Supply Chain Management

• Components of global supply chains: procurement, logistics, distribution
• Coordination and integration across borders
• Impact of globalization on supply chain complexity
• Challenges: lead times, customs, regulations, risks
• Technologies and tools for supply chain management

7. Legal and Ethical Issues in International Business

• Legal environment in international trade
• Intellectual property rights protection
• Labor standards and employee rights internationally
• Environmental regulations and sustainability
• Corporate social responsibility (CSR) practices
• Ethical dilemmas and compliance in multinational operations

8. International Financial Management

• Exchange rates and currency markets
• Currency risk and hedging strategies
• International capital budgeting and investment decisions
• Role of international financial institutions and instruments

9. Political and Economic Risk Analysis

• Political risk: types and sources
• Economic risk: currency controls, inflation, recession
• Country risk assessment methodologies
• Trade barriers and protectionism
• Risk management strategies and mitigation techniques

10. Future Trends in International Business

• Digitalization and e-commerce impacts
• Sustainability and green business practices
• Geopolitical shifts and their influence on trade
• Disruptive technologies: AI, blockchain, IoT
• Preparing for the future global business environment