Course Objectives: |
The International Business course provides both theoretical and practical knowledge. The general purpose of the course is to teach students the concepts of commercial transactions between two or more countries while explaining the difference between local and international operations and helping them understand global business in general terms. |
Course Content: |
This course covers the environmental factors affecting a global business, the structures and management strategies of global businesses, export-import-foreign direct investment terms, international agreements and collaborations, target market selection strategies, and functions of global businesses such as production, marketing, accounting, finance, and human resources. As a result, the course increases students' ability to comprehend the nature of international business at micro and macro levels. |
Course Learning Outcomes (CLOs) are those describing the knowledge, skills and competencies that students are expected to achieve upon successful completion of the course. In this context, Course Learning Outcomes defined for this course unit are as follows:
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Knowledge
(Described as Theoritical and/or Factual Knowledge.)
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1) • identifies the difference between a local and international business.
• recognizes and differentiates local versus international businesses, as well as their economic, social, political, and cultural environment.
• identifies the most suitable foreign country for a company to invest in.
• identifies governmental influence on trade, cross-national cooperation, and agreements.
identifies the different types of commercial policies used to promote international business.
• differentiates the various modes of market entry strategies based on the product and/or service.
• identifies the major functions of an MNE.
• values the differences, challenges, and advantages of managing an operation locally versus internationally.
• identifies global foreign-exchange markets
• reports on the different strategies linked to the organizational structure.
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Skills
(Describe as Cognitive and/or Practical Skills.)
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Competences
(Described as "Ability of the learner to apply knowledge and skills autonomously with responsibility", "Learning to learn"," Communication and social" and "Field specific" competences.)
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Week |
Subject |
Materials Sharing * |
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Related Preparation |
Further Study |
1) |
• Why and what to study in international business.
• The relationship between globalization and IB.
• Forces driving and major criticisms of globalization and IB.
• Major reasons companies seek to create value by engaging in IB.
• Different operating modes allow companies to accomplish their international objectives.
• Why do national differences in companies’ external environments affect how they may best improve their IB performance? |
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1) |
• Why culture, especially national culture, is important in IB.
• Major causes of national cultural formation and change.
• Major behavioral factors influence countries’ business practices.
• Complexities of cross-cultural communications.
• Guidelines for cultural adjustment. |
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2) |
• How politics and laws influence business activities.
• Principles and practices of a political environment.
• Principles and practices of political freedom.
• The idea of political risk.
• Principles and practices of a legal environment.
• Legal issues facing international companies.
• Ideas of politics, law, and business. |
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2) |
• Value of economic analysis
• Types of economic environments
• Idea of economic freedom
• Types of economic systems
• Indicators of economic development performance and potential
• Elements of economic analysis |
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3) |
• The idea of strategy in global companies.
• How executives make strategy.
• Resources, capabilities, and competencies.
• Approaches to creating value.
• Features and functions of the value chain.
• Global integration and local responsiveness.
• Types of strategies used by global companies. |
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3) |
• The three major types of international economic integration.
• The World Trade Organization and how it is working to reduce trade barriers on a global basis.
• The major benefits of regional economic integration.
• Comparing and contrasting different regional trading groups.
• The forces that affect the prices of commodities and their impact on commodity agreements. |
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4) |
• The significance of location in a global company's operations.
• Why comparing countries through scanning is important and how it connects to final location choices.
• Major opportunity and risk variables and how to prioritize and relate them when deciding whether and where to expand abroad.
• Sources and shortcomings of comparative country information.
• Alternative considerations and means for companies to allocate resources among countries.
• Why do companies make noncomparative decisions when choosing where to operate abroad? |
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4) |
• Principles and practices of exporting.
• Motivations and methods of exporting.
• Startup and expansion of exporting.
• Principles and practices of importing.
• Motivations and methods of importing.
• Problems that challenge international traders.
• Resources that help international traders.
• Standards of an export plan.
• Principles and practices of countertrade. |
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5) |
• Idea of an organization
• Classical organizational structures
• Neoclassical organizational structures
• Systems used to coordinate international activities
• Systems used to control international activities
• Principles and practices of organizational culture |
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5) |
• Why export and import may not suffice for companies’ achievement of IB objectives.
• Why and how do companies make wholly owned foreign direct investments?
• Why do companies collaborate in international markets?
• Modes of and considerations for selecting an international collaborative arrangement.
• Major reasons why IB collaborative arrangements fail or succeed. |
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6) |
• What does "global supply-chain management" mean?
• Different facets of global operations strategies.
• How global sourcing is an important aspect of global supply chains and operations management.
• How information technology is used in global operations and supply-chain management.
• How quality management is important in global operations and supply-chain management. |
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6) |
• International marketing strategies in terms of marketing orientations, segmentation, and targeting.
• Pros and cons of country adaptation versus global standardization of products.
• Pricing complexities when selling in foreign markets.
• Pros and cons of using uniform promotional marketing practices among countries.
• Different branding strategies companies may employ internationally.
• Major practices and complications of international distribution.
• How gap analysis can help in managing the international marketing mix. |
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7) |
• International human resource management
• Perspective of the expatriate
• Staffing frameworks used by global companies
• Selection
• Preparation
• Compensation
• Repatriation and Failure |
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7) |
• Crossroads in accounting and finance.
• Major factors affecting the development of accounting objectives, standards, and practices.
• International accounting standards and the process of global convergence.
• How companies account for foreign-currency transactions.
• How companies can translate foreign-currency financial statements.
• Some of the key international finance functions.
• How do companies protect against foreign exchange risk? |
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Course Notes / Textbooks: |
• John D. Daniels, Lee H. Radebaugh, Daniel P. Sullivan, and Reid W. Click, International Business: Environments & Operations, 17th edition. Pearson Education (2021).
• Simon Collinson, Rajneesh Narula, and Alan M. Rugman, International Business, 8th Edition, Pearson Education (2020).
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References: |
• John D. Daniels, Lee H. Radebaugh, Daniel P. Sullivan, and Reid W. Click, International Business: Environments & Operations, 17th edition. Pearson Education (2021).
• Simon Collinson, Rajneesh Narula, and Alan M. Rugman, International Business, 8th Edition, Pearson Education (2020).
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(KPLOs and SPLOs are the abbreviations for Key & Sub- Programme Learning Outcomes, respectively. )
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Programme Learning Outcomes |
Contribution Level (from 1 to 5) |
1) |
Explains the basic and theoratical knowledge necessary for business administration. |
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1.1 Remembers the basic functions of the business. |
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1.2 Evaluates various processes in business management from a systematic perspective. |
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2) |
Improves the vision of problem solving by using case methodin various subjects in the fields of business management. |
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2.1 Evaluates the knowledge and skills acquired in the field of business management with a critical approach. |
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2.2 Develops problem solving and decision making skills through individual and team work. |
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2.3 Develops appropriate business strategies in changing conditions, taking into account the benefits of stakeholders. |
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2.4 Understands the importance and necessity of adapting to changes in the technological and business environment. |
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2.5 Demonstrates the ability to manage employees and processes in a dynamic business world. |
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3) |
Can use the metodological information effectively in spesific research and decision making studies and reports the results in an analytical approach. |
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3.1 Produces solutions by considering the problems encountered in the field of business with an analytical way of thinking. |
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3.2 Produces projects that can create new opportunities in different fields of business management. |
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4) |
Develops the competencies defined as institutional outcomes of our university at the professional level in business and/or academic life, developing above the undergraduate level competencies, in lines with the expectations of the business world and society. |
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4.1 Develops a competence to analyze and solve problems and manage conflicts at the level of expertise. |
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4.2 Takes part as a team member in environments that require the resolution of problems and leads when necessary. |
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4.3 Evaluates the existing norms and standards critically, and develop innovative and entrepreneurial ideas |
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4.4 Being aware of advanced technology and digital transformation possibilities in work area. |
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4.5 By supporting what they have learned with quantitative and qualitative data; transfers to groups in and out of the field in a systematic and impressive manner by using written, verbal and visual communication tools. |
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4.6 Having cultural awareness and transfers it to groups outside and within the field. |
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WORKLOAD OF TEACHING & LEARNING ACTIVITIES |
Teaching & Learning Activities |
# of Activities per semester |
Duration (hour) |
Total Workload |
Course |
7 |
6 |
42 |
Laboratory |
0 |
0 |
0 |
Application |
0 |
0 |
0 |
Special Course Internship (Work Placement) |
0 |
0 |
0 |
Field Work |
0 |
0 |
0 |
Study Hours Out of Class |
7 |
8 |
56 |
Presentations / Seminar |
0 |
0 |
0 |
Project |
0 |
0 |
0 |
Homework Assignments |
2 |
9 |
18 |
Total Workload of Teaching & Learning Activities |
- |
- |
116 |
WORKLOAD OF ASSESMENT & EVALUATION ACTIVITIES |
Assesment & Evaluation Activities |
# of Activities per semester |
Duration (hour) |
Total Workload |
Quizzes |
0 |
0 |
0 |
Midterms |
1 |
12 |
12 |
Semester Final Exam |
1 |
15 |
15 |
Total Workload of Assesment & Evaluation Activities |
- |
- |
27 |
TOTAL WORKLOAD (Teaching & Learning + Assesment & Evaluation Activities) |
143 |
ECTS CREDITS OF THE COURSE (Total Workload/25.5 h) |
6 |