EPOKA UNIVERSITY
FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES
DEPARTMENT OF BUSINESS ADMINISTRATION
COURSE SYLLABUS
2023-2024 ACADEMIC YEAR
COURSE INFORMATIONCourse Title: INTERNATIONAL BUSINESS |
| Code | Course Type | Regular Semester | Theory | Practice | Lab | Credits | ECTS |
|---|---|---|---|---|---|---|---|
| BUS 451 | B | 1 | 3 | 0 | 0 | 3 | 7.5 |
| Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) | NA |
| Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | Assoc.Prof.Dr. Albana Boriçi aborici@epoka.edu.al |
| Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: | NA |
| Teaching Assistant(s) and Office Hours: | NA |
| Language: | English |
| Compulsory/Elective: | Compulsory |
| Study program: (the study for which this course is offered) | Master of Science in Business Administration |
| Classroom and Meeting Time: | E 212 on Wednesdays, 6 pm - 8:45 pm |
| Code of Ethics: |
Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline" |
| Attendance Requirement: | |
| Course Description: | This course tries to enhance students' knowledge in international business affairs and in formulating strategies for international business operations of a firm. The first part of the course is about the conceptual developments in international marketing, globalization attempts, and the importance of marketing research for international marketing. The second part concentrates on the developments in the world economy, politics and culture; emphasizing the marketing implications of these international environmental developments for the Albanian firms. The third part deals with the formulation of the marketing programs with respect to the marketing mix elements within the international context. The last part of the course covers the export procedures, mechanics, and export promotion measures in Albania, as well as the future developments in international marketing. |
| Course Objectives: | This course aims to: 1) provide the basic knowledge for an effective management of international business, by putting students at the position of the manager of a company with international activities 2) present and discuss with students the basic theories, "rules of the game" as well as the major opportunities and challenges encountered by managers in international business |
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BASIC CONCEPTS OF THE COURSE
|
| 1 | Globalization of markets and production, its advantages and disadvantages, evaluated from the perspective of international companies Management of marketing, logistics, human resources and various aspects of international business management. |
| 2 | The role of culture, politics, laws and international political relations in making international business decisions |
| 3 | Management of marketing, logistics, human and financial resources and other aspects of international business management. |
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COURSE OUTLINE
|
| Week | Topics |
| 1 | Introduction and Globalization (chapter 1). The lecture introduces students to international business. The lecture looks at the globalization of markets and globalization of production. It looks at the key drivers of globalization. It looks at the changing demographics, world output, and foreign direct investment. It also discusses managing in the global marketplace. |
| 2 | National Differences in Country Political Economy (chapter 2). The lecture looks at differences in political systems, economic systems, and legal systems. It looks at concepts such as collectivism vs. individualism, democracy vs. totalitarianism, market vs. command economies, and variances in legal systems. |
| 3 | Economic Development and Political Economy (chapter 3). The lecture looks at innovation and entrepreneurship as growth engines, the role of the market economy and property rights, transition economies, the spread of democracy, the spread of market-based systems, and the nature of economic transformation, deregulation, privatization and liberalization. |
| 4 | Differences in Culture and Ethics in International Business (chapters 4 and 5). The lecture looks at values, norms, the determinants of culture, and social structure. It also looks at religious and ethical systems. It then turns to ethical issues in international business, ethical dilemmas, the roots of unethical behavior, and philosophical approaches to ethics. |
| 5 | International Trade and International Investment (chapters 7 and 8). The lecture examines tariffs as instruments of trade policy. It looks at reasons for government intervention in trade. It examines the development of the world trade system. It then turns to foreign direct investment in the world economy. It looks at theories of FDI. It also turns to political ideology and FDI, weighing also the benefits and costs of FDI. It finally looks at government policy instruments related to FDI. |
| 6 | Regional Economic Integration (chapter 9). The lecture looks at levels of economic integration and the case for regional integration. It looks also at the case against regional integration. It then looks at the case of regional integration in Europe, the evolution of the European Union and the political structures of the European Union. It turns to the North American Free Trade Agreement (NAFTA)/USMCA, regional integration in South America (MERCOSUR), regional economic integration in Asia (ASEAN and APEC), and regional integration in Africa. |
| 7 | The Foreign Exchange Market and International Monetary System (chapters 10 and 11). The lecture looks at the functions of the foreign exchange market. It looks at the economic theories of foreign exchange markets and exchange rate forecasting. Next, the lecture turns to the history of the international monetary system. It examines the Gold Standard of the 19th century, the post-1945 Bretton Woods System and its institutions, the collapse of Bretton Woods, and the current system of floating exchange rates. Finally, it looks at the role of the IMF and World Bank in a post-Bretton Woods Era. |
| 8 | The Global Capital Market (chapter 12). The lecture looks at the functions of a global capital market. It looks at the Eurocurrency Market. It then turns to the Global Bond Market and Global Equity Market. It looks at Foreign Exchange Risk and its relation to the cost of capital. |
| 9 | The Strategy and Organization of International Business (chapters 13 and 14). The lecture looks at the role of firm strategy, global expansion and profitability. It turns to cost pressures and local responsiveness. It compares global standardization strategy, localization strategy, transnational strategy and international strategy. The lecture then turns to organizing international business. We address vertical differentiation, horizontal differentiation, control systems, processes, and organizational culture. It then relates the 4 international strategies or organizational architecture. It concludes by examining organizational change. |
| 10 | Entry Strategies: Strategic Alliances, Exporting, Importing, and Countertrade (chapters 15 and 16). The lecture looks at entry decisions, entry modes such as exporting, licensing, franchising, joint ventures, and wholly owned subsidiaries. It discusses how to select an appropriate entry mode and creating strategic alliances. The lecture then turns to a focus on particulars of exporting, importing and countertrade. |
| 11 | Global Production, Outsourcing, Logistics, Marketing, and R&D (chapters 17 and 18). The lecture looks at different functions of the global firm. This includes questions surrounding production, where to produce, choosing foreign production sites, outsourcing, make-or-buy decisions, and managing a global supply chain. It then turns to global marketing and branding, market segmentation, distribution strategy, communication strategy, pricing strategy, configuring the marketing mix, and questions surrounding R&D and new-product development. |
| 12 | Global HRM (chapter 19). The lecture looks at the strategic role of International HRM, global staffing policy, training, management development, performance appraisal and compensation. It also looks at international labor relations. |
| 13 | Accounting and Finance (chapter 20). The lecture looks at international accounting standards, accounting and control systems, financial management and deciding to invest or to finance, and global money management. |
| 14 | Final term papers. The students will prepare and give presentations of a final term paper related to the topics suggested by the lecturer and/or other ones chosen by them on key issues of international business. |
| Prerequisite(s): | BUS 103 Introduction to Business |
| Textbook(s): | 1. Hill, Ch. W. L. (2023), "International Business", Botimi i 14-të, McGrawHill Education 2. Hill, Ch. W. L. & Hult, G. T. M. (2017), "International Business", 11th Edition, McGrawHill Education |
| Additional Literature: | 1) Wild, J. J., & Wild, K. L. & (2016), „International Business“, 8th Edition, Published by Pearson 2) Eiteman, D.K., Stonhehill, A. K., & Moffet, M.K., (2016), “Multinational Business Finance”, 14th Edition, Published by Pearson Finance Series. 3) Czinkota, M. R., Ronkainen, I. A., & Moffet, M.H., (2011), “International Business”, 8th Edition, Thomson/South-Western |
| Laboratory Work: | No |
| Computer Usage: | MS Office |
| Others: | No |
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COURSE LEARNING OUTCOMES
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| 1 | Define international business theories and evaluate the implementation of these theories in global business environments. |
| 2 | Evaluate challenges of international businesses domestically, regionally and globally. |
| 3 | Describe different entry modes to enter new markets to conduct business |
| 4 | Understand international strategies of firms |
| 5 | Adjust strategies for managing marketing, human resources, supply chain to the global environment challenges for an effective management of international business |
| 6 | Adjust financial management of the company in accordance to the opportunities and challenges provided by the global financial market |
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COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution) |
| No | Program Competencies | Cont. |
| Master of Science in Business Administration Program | ||
| 1 | Integrate theories from business and economics to tackle business problem | 5 |
| 2 | Inspire an open minded-attitude through continuous learning and team-work. | 3 |
| 3 | Demonstrate ethical, social, and legal responsibilities in organizations | 4 |
| 4 | Organize and pursue scientific research projects | 3 |
| 5 | Enhance persuasive communication and presentation capabilities. | 3 |
| 6 | Critically evaluate contemporary research in specific business areas. | 4 |
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COURSE EVALUATION METHOD
|
| Method | Quantity | Percentage |
| Midterm Exam(s) |
1
|
15
|
| Case Study |
1
|
10
|
| Term Paper |
1
|
20
|
| Final Exam |
1
|
35
|
| Other |
1
|
20
|
| Total Percent: | 100% |
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ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
|
| Activities | Quantity | Duration(Hours) | Total Workload(Hours) |
| Course Duration (Including the exam week: 16x Total course hours) | 16 | 2 | 32 |
| Hours for off-the-classroom study (Pre-study, practice) | 15 | 2 | 30 |
| Mid-terms | 1 | 16 | 16 |
| Assignments | 1 | 70 | 70 |
| Final examination | 1 | 20 | 20 |
| Other | 1 | 19.5 | 19.5 |
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Total Work Load:
|
187.5 | ||
|
Total Work Load/25(h):
|
7.5 | ||
|
ECTS Credit of the Course:
|
7.5 | ||
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CONCLUDING REMARKS BY THE COURSE LECTURER
|
|
Teaching the course "International Business" at the study program master of Sciences in Business Administration has a been in general a fulfilling experience. Students attended the class regularly and were correct with class assignments. However, I would have expected a higher active class participation from the students during class discussions. Nevertheless, I am generally satisfied with their performance and results. |