International Business Management / International Business Economics
1. The Global Business Environment Globalization: Drivers of globalization, pros and cons, impact on domestic and international markets. PESTEL Framework: Political, Economic, Socio-cultural, Technological, Environmental, and Legal factors affecting international trade. Trade Theories: Classical and modern theories (e.g., Absolute Advantage, Comparative Advantage, Porter’s Diamond Model). Trade Barriers & Integration: Tariffs, quotas, subsidies, and regional economic integrations (e.g., European Union, USMCA). 2. International Strategy and Entry Modes Strategic Orientations: EPRG Framework (Ethnocentric, Polycentric, Regiocentric, Geocentric approaches). International Strategies: Global, Multinational (Multi-domestic), Transnational, and International strategies. Foreign Market Entry Modes: Exporting, Licensing, Franchising, Joint Ventures, Strategic Alliances, and Wholly Owned Subsidiaries (Greenfield investment vs. M&A). 3. Global Marketing and Supply Chain Standardization vs. Adaptation: The dilemma of using the same marketing mix globally vs. tailoring it to local cultures ("Glocalization"). International Marketing Mix (4Ps): Product adaptation, international pricing strategies (skimming, penetration, dumping), global distribution channels, and cross-cultural promotion. Global Supply Chain Management: Logistics, sourcing strategies (offshoring, nearshoring), and managing global value chains. 4. International Financial Management Foreign Exchange Market (Forex): How exchange rates are determined, spot vs. forward markets. Currency Risk Management: Hedging strategies against transaction, translation, and economic exposure. Foreign Direct Investment (FDI): Horizontal and vertical FDI, costs and benefits for home and host countries. 5. International Human Resource Management & Culture Staffing Policies: Ethnocentric, polycentric, and geocentric staffing; the role and challenges of expatriates (repatriation, culture shock). Cross-Cultural Management: Hofstede’s Cultural Dimensions (e.g., Power Distance, Individualism vs. Collectivism) and Trompenaars’ model. Global Leadership: Managing diverse, multicultural, and virtual teams.
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