International Business - MB25301

MB25301:

International Business

Course Objectives:

This course is designed to equip students with a comprehensive understanding of international Business operations, the global economic environment, and strategic approaches for cross-border Business success. It introduces the key theories of international trade, investment, and market entry strategies while integrating managerial aspects like global production, marketing, finance, HR, and ethics. The course prepares learners to operate effectively in multinational corporations and navigate cultural, legal, and strategic complexities in globalized Business environments.

Introduction to International Business

Definition and drivers of International Business- Organisational issues of IB - Changing Environment of International Business- Country attractiveness- Trends in Globalization- Effect and Benefit of Globalization-International Institution: UNCTAD Basic Principles and Major Achievements, Role of IMF, Features of IBRD, Role and Advantage of WTO - Changing environment and emerging markets.

International Trade and Investment Theories

Classical and modern trade theories: Mercantilism, Absolute Advantage, Comparative Advantage, Heckscher-Ohlin – FDI theories: Product Life Cycle, Eclectic Paradigm, Market Power, Internalization Theory – Trade policy instruments: VERs, Administrative Policy, Anti-dumping, Balance of Payments.

Global Market Entry and Strategic Choices

Strategic compulsions for internationalization – Global portfolio strategies – Market entry modes: exporting, licensing, franchising, joint ventures, wholly-owned subsidiaries – Organizational structures and control in global firms – Performance evaluation and management of international operations.

Global Operations and Financial Management

Global production: Location, scale of operations- cost of production- Standardization Vs Differentiation- Make or Buy decisions- global supply chain issues- Quality considerations. Globalization of markets: Marketing strategy- Challenges in product development- pricing-production and channel management. Foreign Exchange Determination Systems: Basic Concepts-types of Exchange Rate Regimes- Factors Affecting Exchange Rates.

Cross-Cultural and HR Management

Selection of expatriate managers- Managing across cultures -Training and development-Compensation- Disadvantages of international Business – Conflict in international Business-Sources and types of conflict – Conflict resolutions – Negotiation –Ethical issues in international Business – Ethical decision-making. .

Emerging Trends and Global Challenges

Digital transformation in global Business – E-commerce and borderless economies – Global sustainability and ESG imperatives – Political risk and compliance – Recent developments in international trade agreements – Resilience in global supply chains – Geopolitical influences on Business strategy.

References:

1.  Charles W. L. Hill & Arun Kumar Jain, International Business, McGraw Hill, 7th Ed., 2024

2. Michael R. Czinkota et al., International Business, Cengage Learning, 9th Ed., 2023

3. K. Aswathappa, International Business, McGraw Hill, 7th Ed., 2023

4. John D. Daniels, Lee H. Radebaugh & Daniel P. Sullivan, International Business, Pearson, 17th Ed., 2023

5. Rakesh Mohan Joshi, International Business, Oxford University Press,2019

6. Vyuptakesh Sharan, International Business: Concepts, Environment and Strategy, Pearson, 5th Ed., 2024

Course Outcomes

After completing this course, the learner will be able to: 

● CO1: Demonstrate conceptual knowledge of the drivers of international business, trade and investment theories, global market entry strategies, multinational operations and finance, cross-cultural management, and emerging global trends and challenges.

● CO2: Interpret and relate the roles of international institutions, trade and investment theories, market entry modes, global production and financial systems, cross-cultural HR practices, and emerging digital and sustainable trends to the changing environment of international business.

● CO3: Apply theories of trade and investment, market entry strategies, global production and supply chain concepts, and ethical decision-making frameworks to address challenges in a multinational business context.

● CO4: Analyze the impact of globalization, trade policies, market entry options, foreign exchange systems, and cross-cultural differences to assess risks and opportunities for a global firm.

● CO5: Evaluate different global strategies, market entry modes, HR practices, and ethical challenges to recommend optimal approaches for a multinational corporation.

● CO6: Develop a comprehensive international business strategy by integrating knowledge of trade theories, market entry, global operations, cross-cultural management, and emerging trends to foster a resilient and ethically responsible organization.