FE5054 - International Business (2023/24)
|Module specification||Module approved to run in 2023/24|
|Module title||International Business|
|Module level||Intermediate (05)|
|Credit rating for module||15|
|School||Guildhall School of Business and Law|
|Total study hours||150|
|Running in 2023/24(Please note that module timeslots are subject to change)||
This module enables students to understand and analyse the dynamics of international business operations and management; strategic issues and evolving world markets. The module explores the decision-making process behind the organisation and management of operations and resources within a global context.
International economic issues influence the formulation of trade and investment policies as well as business strategies. In recent years dramatic economic changes are arising on account of factors such as the Covid-19 pandemic, Brexit and the growing role played by emerging economies. The aim of this module is to give students a strong understanding of key theories, policies and issues which will be analysed in the light of current international debates.
This module provides opportunities for developing the student’s strategic thinking, understanding, analysis and assessment of a range of topical issues challenging international businesses in the global economy.
While the balance of geopolitical influences is tilting and the role and intervention of global institutions are being challenged, the business community still sees major economic groupings like Europe’s single market as useful launchpads to internationalisation. Hence, the module examines economic integration and trading blocs with a particular focus on the European Union (EU). The UK and EU competition policy will also be examined.
Using economic theories, the module aims to explain the development of international business, the globalisation process and challenges and debate.
The module also aims to develop students' employability skills, in particular: subject research; problem solving and application; academic writing; academic reading and critical thinking, evaluation, analysis and reflection.
The nature of international business LO1
Theories of internationalisation of production LO1, LO2
Globalisation of production and markets, process and debate LO2
Challenges of globalisation to business, government and societies – the responses of firms, governments and international institutions LO2
Economic integration: Principles and practices in economic integration around the world – the special case of the European Union LO3
Key elements of the single European market (SEM), such as harmonisation and competition. LO3
EU and UK competition policy: theory of competition policy; key aspects of policy such as collusive behaviour in oligopoly markets, abuse of dominant position in monopoly markets, mergers & acquisitions control and state aid. LO3
Foreign market entry: Different strategies for entry and their evaluation. LO1, LO2
Foreign Direct Investment: Evaluation of economic impact on host and home countries, trends in FDI amongst developed and emerging economies, LO1, LO2
International trade: Theory, policies , issues and trends in developed and emerging markets LO2
Global supply chain management and production: issues, models and practices. LO4
Balance of independent study and scheduled teaching activity
This module is delivered through a weekly two-hour lecture and a weekly one-hour seminar. The lecture introduces the key theoretical concepts and business strategies and is interactive, encouraging student participation. Seminars are student centred, enabling students to gain a deeper understanding of the key concepts, present their solutions to review questions and case studies, contribute to discussion and raise questions on the lecture material. Weblearn Discussion Board and other virtual tools may also be used to underpin seminar discussions and case studies.
Students are expected to carry out independent work and prepare for seminars beforehand. They are required to analyse and provide solutions to case studies and seminar questions and follow and participate in discussion during seminars.
Students are expected to complement the 'formal' learning activity with further reading of the material suggested in the teaching sessions; solving business problems; answering review seminar questions; examining international business case studies; conducting research, planning and preparing for their summative assessment.
Use of case studies help students work out the practical applications of theoretical principles in a variety of contexts and encourage them to develop collaborative and self-directed learning skills.
The module uses the virtual learning environment, WebLearn. All the learning, teaching and assessment materials such as lecture slides; seminar questions; case studies; assessment strategy; assessment and grading criteria; coursework brief; deadlines for feedback; and other relevant online resources and links will be made available on Weblearn.
Students are encouraged to reflect on their learning development through the formative and summative assessments and learning activities in the module.
The module’s teaching, learning and assessment strategies are designed to develop
the following skills: academic reading; academic writing; subject research; problem solving and application; written communication; critical thinking and applied analysis.
On successful completion of this module students will be able to:
- Identify key success factors for entering international markets, and organising, managing and controlling business activities around the world.
- Apply theoretical knowledge and understanding to complex international business issues and the business environment with reference to themes such as the internationalisation of production, globalisation, foreign market entry strategies and international trade.
- Understand the economic impact of economic integration, the EU and the EU competition policy for international business
- Demonstrate an in-depth understanding of and analyse issues involved in the operations of international businesses in the global economy, in areas such as supply chain management and production.
Formative and summative assessments and feedback practices encourage reflection and consideration of professional and subject-specific knowledge.
The summative assessment consists of individual coursework. It requires students to exhibit a thorough knowledge, understanding and analysis of the underlying challenges and principles of managing the operations of international businesses. The assessment develops a range of transferrable skills such research; problem solving and application; academic writing; academic reading; critical thinking; evaluation; analysis; and reflection.
A feed-forward strategy is used to provide feedback to students to improve their coursework before final submission. The feedforward strategy and class discussion of grading and assessment criteria create an opportunity for dialogue between students and staff to promote a shared understanding of the basis on which academic judgements are made.
All the information about the processes of marking, timing of assessments and deadlines for feedback provision are clearly provided in the module booklet and also communicated to students through Weblearn.
Cavusgil, S.T. et al (2019). International business: strategy, management and the
new realities, 5th ed., Prentice-Hall. [This is an E-Book. Earlier editions are available
as hard copies at Holloway Road 658.049 CA]
Daniels, J.D. and Radebaugh, L. H. (2015). International business, 15th ed., Harlow,
Pearson. [This is an E-Book. Hard copies of earlier editions are available at Holloway
Road 658.18 DAN]
Hill, C. (2020). International business, competing in the global market place, 13th
ed., New York, McGraw-Hill. [Holloway Road 658.049 HIL]
Bartlett, C. A. and Beamish, P. W. 2018). Transnational Management – Texts, Cases
and Readings in Cross-Border Management, 8th ed., McGraw-Hill, London.
Buckley, P. J., Enderwick, P. and Cross, A. R. (2018). International business, Oxford
University Press, Oxford
Czinkota, M. et al (2011). International business, 8th ed., Chichester, Wiley.
[Earlier editions are available at Holloway Road 658.049 CZI]
Dicken, P. (2015). Global shift, 7th ed., London, Sage. [Holloway Road 338.0904 DIC]
Griffin, R. W. and Pustay, W. M. (2015). International business, 6th ed., Upper
Saddle River, N.J., Pearson-Prentice-Hall. [This is an E-Book. Hard copies of earlier
editions are available at Holloway Road Library]
Hill, C. (2017). Global business today, 10th ed., New York, McGraw-Hill.
[Holloway Road 658.049 Hil]
Johnson, D. and Turner, C. (2010). International business: themes and issues in
modern global economy, 2nd ed., London: Routledge. [Holloway Road 658.049 JOH]
Lindeque, J. and Suder, G. (2018). Doing Business in Europe, 3rd ed., Sage,
London. [Hard copy available at Holloway Road 382.094 SUD]
Peng, M. W., and Meyer, K. E. (2011). International business, London, Cengage
Learning EMEA. [Holloway Road 338.88 PEN]
Piggot, J. and Cook, M. (2006). International business economics, a European
perspective, Basingstoke, Hampshire, Palgrave Macmillan. [This is an E-Book. Hard
copies of earlier editions are available at Holloway Road 338.8894 ]
Pitelis, C., and Sugden, R. (Eds) (2002). The nature of the transnational firm, 2nd
ed., London, Routledge. [This is an E-book]
Rugman, A. M., and Collinson, S. (2012). International business, 6th ed., Prentice-
Hall. [This is an E-book. Earlier editions are available as hard copy at
Holloway Road 658.049 RUG]
Sitkin, A., and Bowen, N. (2013). International business: challenges and choices,
2nd ed., Oxford, Oxford University Press. [Holloway Road 658.049 SIT]
Verbeke, A. (2009). International business strategy: rethinking the foundations of
global corporate success, Cambridge, Cambridge University Press.
[This is an E-book]
Key Portals for Business (also useful for career planning)
https://ukdataservice.ac.uk/- free- national social and economic data
http://www.europa.eu – free – internal and external links to other portals
http://www.eubusiness.com – free access and subscription (weekly news)
http://www.oecd.org – free access and subscription (data, publications)
http://www.wto.org – free access (updates and data on trade agreements)
http://www.worldbank.org – free access (see also: www.doingbusiness.org)
http://www.imf.org - free access
http://www.weforum.org – free – forum with reports, videos, analysis
Databases and online resources (available via the Library portal):
For company, country information and market research: Business Source Ultimate, Passport
E-journals: Academic Search Complete, Emerald Management, International Business, International Business Review, World Business, European Management Review and European Management