Unit I: Globalization and International Business 5 hours
Concepts of globalization and international business; Factors affecting globalization; Reasons for international business expansion; Drivers of market globalization; Domestic vs international business.
Unit II: Theories of International Trade and Investment 10 hours
Theory of Mercantilism, Theory of Absolute Advantage, Theory of Comparative Advantage, Factor Endowment Theory, Product Life-Cycle Theory, Theory of Competitive Advantage; Foreign direct investment based theories; Implications of international trade and investment theories; Contemporary issues of international trade.
Unit III: Global Business Environment 10 hours
Political and legal systems; Actors in political and legal systems; Political risks; e-commerce and intellectual property rights; Government interventions and investment barriers; Cultural environment – concept, why culture matters in international business?; Regional economic integration – types, leading economic blocs; Emerging foreign markets; The changing demographics of the global economy; International monetary and financial environment – currencies and exchange rate systems; The floating exchange rate system.; Modes of payment in international trade; Global financial system; International economic institutions; WTO and free trade policies.
Unit IV: International Strategic Management 8 hours
Strategy and opportunity assessment; Role of strategy in international business; Estimating market potential; Choosing a strategy; Entering and operating in international markets – exporting and importing, collaborative ventures and strategic alliances, licensing, franchising; Global outsourcing; MNCs and Foreign Direct Investment (FDI) in the world economy – concept, types and trends.
Unit V: Functional Areas of International Business 12 hours
Global production, outsourcing and logistics – managing global supply chain; Global marketing strategy – global branding, product development, pricing, communications, and distribution strategies; Global e-marketing strategy; Financial management – sources of funds for international operations: Investment decisions; Tax practices; Currency risk management; International human resource management – staffing policy, diversity management, labour relations, preparing employees for repatriation.