Trade in the Global Marketplace

Curriculum Guideline

Effective Date:
Course
Discontinued
No
Course Code
BUSN 3100
Descriptive
Trade in the Global Marketplace
Department
Business
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
Not Specified
PLAR
No
Semester Length
15 weeks
Max Class Size
35
Contact Hours
4
Method Of Instruction
Lecture
Lab
Field Experience
Methods Of Instruction

Lectures, discussions, case study analysis, and guest lectures on industry-specific subjects.

Course Description
This course presents the key elements of the international business process that are necessary for local companies to transition into and thrive in the global market place. The course examines what individuals in organizations need to know and do to ensure the success of new international ventures. The course focuses on financial analysis of costs and pricing for the import and export of products (goods) and services. Current practices in the development of both products (goods) and services for international markets are addressed. It examines the inherent risks of international trade and the steps that must be taken to analyze and mitigate risks including currency, political, economic, social, environmental, ethical, commercial, physical asset, personnel, technology, and intellectual property. Careful research, analysis and planning are necessary to examine the organization’s current state, to identify promising opportunities and to analyze potential outcomes, both positive and negative. The course aims to provide the tools necessary to propose a global business transition plan that incorporates market research and cultural awareness.
Course Content

1. Globalization

• What is globalization?

• Forces driving globalization

• Arguments for and against globalization

 

2. Cross-Cultural Business

• Components of culture

• Classifying cultures

• Managing across cultures

 

3. Politics and Law

• Political systems and political risk

• Legal systems and legal risk

 

4. International Ethics

• Ethics and social responsibility

• Identifying and resolving ethical conflicts in the global business environment

 

5. Emerging Markets

• Political and Business systems

• Development of nations

• Centrally controlled, mixed, and free enterprise business environments

 

 

6. International Trade

• Overview of international trade

 

7. Foreign Direct Investment

• Management issues and foreign direct investment

• Government intervention and policy instruments and foreign direct investment

 

8. Regional Economic Integration

• Effects of regional political, economic, and business integration

• Types of regional economic integration; free trade agreements, regional economic integration, and economic and political unions

 

9. International Financial Markets and Foreign Exchange

• Exchange rate factors, forecasts and theories

• International monetary system

• International capital markets

• Foreign exchange markets

 

10. International Strategy and Organization

• Assessing organizational readiness

• Planning international market research

• Screening potential international markets

• Selecting research design and conducting secondary research

• Collecting data for primary research

• Organizing data and presenting conclusions

• International strategy

• International organization structure

 

11. Selecting and Managing Entry Modes

• Exporting, importing and countertrade

• Contractual entry modes

• Investment entry modes

• eCommerce entry modes and the effect of eMarketing on market entry strategies

• Strategic factors in selecting an entry mode

 

12. Risk Analysis and Management

• The risk management process

• Analyzing and mitigating:

  • currency/foreign exchange risk
  • political risk
  • economic risk
  • social risk
  • commercial risk
  • foreign physical asset risk
  • personnel risk
  • technology risk
  • intellectual property risk

 

 

13. Developing and Marketing Products

• Product development and adaptation

• Service Development: International Trade in Services

• Service development factors

• Service development processes and design

• Conducting cost and pricing analysis for exporting products (goods)

• Conducting cost and pricing analysis for importing products (goods)

• Conducting cost and pricing analysis for exporting services

• Conducting cost and pricing analysis for importing services

• Regulatory compliance

• Intellectual property protection

• Product liability

• Establishing sales channels to international markets

• Conducting sales and follow up

• Negotiating terms of international sales agreements 

Learning Outcomes

At the end of the course the successful student will be able to:


1. analyze the current and future global business environments from both a national and global perspective.

2. examine topics such as codes of conduct for international trade professionals, protecting human rights, implementing ethical practices, recognizing diversity in the workplace, and preserving the natural environment.

3. analyze costs and pricing for the import and export of products (goods) and services.

4. assess how the cultural aspects of business affect international trade and business relationships.

5. evaluate the management of business functions

6. identify and analyze potential risks, including ethical, of international initiatives and determine if the potential gains and opportunities of the venture outweigh the possible risks.

7. evaluate how e-marketing and e-commerce are shaping the global business environment.

8. propose a global business plan that incorporates, among other things, the trade and marketing elements necessary for a business organization preparing to go international.

Means of Assessment

Assignment(s)/Case Study(ies)/Quiz(zes)              10 - 35%

Global Business Plan                                            10 - 35%

Examinations                                                      30 - 60%*

Participation                                                        0 - 10%

                                                                          100%

 

* no one examination may be worth more than 40%

50% of non-exam assessments must be for individual work
Note: students must achieve a grade of at least 50% on the combined exam components to pass the course.

Textbook Materials

Wild, Wild, and Valladares. International Business: The Challenge of Globalization. Latest Canadian Edition: Pearson Education Canada.

Feasibility of International Trade. Latest Edition, FITT (Free eBook download for students registered with FITT)

Products and Services for a Global Market. Latest Edition, FITT (Free eBook download for students registered with FITT)

 
Or any alternative textbook approved by the Business and Finance Department.

Prerequisites

BUSN 1210 OR currently active in the:
PBD Hospitality Services Management or
PBD International Supply Chain Management or
PDD International Business Management or
PDD Global Banking and Economics or
PDD Hospitality Management.

Corequisites

Nil

Equivalencies

Nil

Which Prerequisite

Nil