Principles of International Business
Business is international in scope as managers take advantage of the comparative advantages countries around the world offer through complex and geographic dispersed value chains, not only to sell products but also to access inputs, knowledge and skills. This module provides the theoretical foundations of international business and its practical applications in explaining the dynamics and constraints of firms’ international strategies. It analyses changes in the international economic environment as a result of globalization as well as the increased interdependence between countries and firms in terms of flows of goods, services, finances and people. The module considers also political, economic and institutional differences around the world and the strategies companies adopt when conducting business across national boundaries. While many practical examples are provided, focus is given to developing an analytical approach to addressing these questions, drawing on several theoretical perspectives.
This module focuses on how companies conduct business across borders and explores various economic systems, cultural differences in different economies, and discusses issues from around the world to give students a global awareness. Mini-case studies and discussion of selected cases further expose students to conducting business in an international and multicultural context by drawing upon real-world scenarios across different countries and cultural boundaries.
International experts/practitioners on topics relevant to the module will be invited to deliver in-module contributions.
As part of the University’s commitment to PRME (Principles for Responsible Management Education - http://www.unprme.org/about-prme/the-six-principles.php), examples are disseminated throughout the module that illustrate both the impact of business activity on the environment, and how some companies are addressing sustainability concerns through their products and processes.
In this module students gain an understanding of what it means to internationalise a business, and through the assignments students acquire research, critical thinking, analysis and report writing skills. It provides the opportunity to develop discursive, analytical, and judgement skills, and a cosmopolitan perspective.
Full module specification
|Module title:||Principles of International Business|
|Duration of module:||
Duration (weeks) - term 1: |
The aim of this module is to provide an understanding of the internationalisation process firms undertake while selecting and targeting opportunities overseas. The module will develop your awareness of trends in the international business environment and the opportunities and challenges internationalisation brings along. It will develop your knowledge of where, why and how to conduct international business in order to gain an understanding of what determines the success and failure of firms conducting international business. Through the assignments, the module will develop your skills in critical analysis and evaluation to enable you to make business decisions in an international setting and identify some of the key challenges faced by managers of multinational firms.
ILO: Module-specific skills
- 1. Develop your understanding of the complex interactions between various political, economic and institutional factors that characterise the international business environment;
- 2. Evaluate specific ways in which international business differs from domestic business and develop detailed knowledge on international business issues;
- 3. Apply resource based view and institutional theory to explain why and how firms internationalize
ILO: Discipline-specific skills
- 4. Apply theoretical principles to critically analyse the current business environment
- 5. Critically evaluate relevant factors to make effective business decisions
ILO: Personal and key skills
- 6. Analyse real world business problems and develop an ability to exercise judgement
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning & Teaching Activities||22||11 x 2 hour lectures|
|Guided Independent Study: Pre and Post Session Reading||61|
|Guided Independent Study: Assessment Preparation||61|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Online Multiple Choice Test in Week 7||40 questions, 60 minutes||1-3||Automated feedback|
|Individual Essay||1-6||Feedback via ELE|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Written assignment||65||2,500 words||1-6||Written feedback via ELE|
|Multiple choice test (taken under exam conditions)||35||40 questions (60 minutes)||1-3||Automated feedback (delivered via ELE)|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Coursework: written assignment||2,500 word essay (65%)||1-6||August|
|Multiple Choice test||Multiple Choice test (35%)||1-3||August|
Students are asked to re-sit only the element that they are referred or deferred.
- Introduction to International Business and Globalization
- Institutions and Firm Resources
- Trade theories and barriers to trade
- Foreign direct investment (FDI) theories
- Regionalisation and Global Integration
- Foreign Exchange and Political Risks
- Corruption and Taxation
- Entry-Mode Strategies
- HR (Human Resource Management) practices in MNEs
- Innovation in MNEs
Indicative learning resources - Basic reading
Students are expected to own a copy of the core text:
Peng, M. and Meyer, K. (2016) International Business, London: Cengage Learning.
There are many text books on international business in the University Library which can provide additional insights and examples of international business operations.
Relevant journals include (non-exhaustive list):
Journal of International Business Studies
International Business Review
Journal of World Business
Strategic Management Journal
Management and Organization Review
Thunderbird International Review
Journal of International Management
International Management Review
International Studies of Management & Organization
International Journal of Cross-Cultural Management
Cross-Cultural & Strategic Management
Harvard Business Review
Academy of Management Journal
Academy of Management Review
Academy of Management Perspectives
Critical Perspectives on international business
In addition, papers on the international dimension of business can be found in other business and management journals.
Good analysis of contemporary events affecting international business can be found in The Economist (available online) andquality financial newspapers such as the Financial Times.
Web based and electronic resources: The module has a fully developed site on ELE where an extensive array of module materials can be found including lecture outlines, suggested reading on a per topic basis, and relevant journal articles, plus multiple choice tests for formative assessment.
Module has an active ELE page?
Indicative learning resources - Web based and electronic resources
The module has a fully developed site on ELE where an extensive array of module materials can be found including lecture outlines, suggested reading on a per topic basis, and relevant journal articles, plus multiple choice tests for formative assessment.
Last revision date