Managing in a Global Economy (MBGE01)

Course No.:

MBGE01

Course Title:

Managing in a Global Economy

Hours Total:

150 h

Credit Points:

5 ECTS

Course Type: Pflicht

Course Availability: WS, SS

Course Duration: 1 Semester

Admission Requirements:

None

Course Coordinator / Instructor:

See current list of tutors in the Learning Management System

References to Other Modules:

Please see module description

Course Description:

The internationalization and globalization of product and service markets has meant that industries and economies worldwide are increasingly subject to competition and change. Nowadays, it is essential for the viability and profitability of companies that they adopt a global mindset. Establishing a business and operating in an international context offers a company many unique opportunities, but importantly, multiple diverse threats emerge in this context. An elevated level of international competition, increasing client mobility in a globalized marketplace, discriminatory practices of foreign governments, and subtle cultural differences mean that running an efficient and profitable international business is exceedingly challenging and the likelihood of failure is high.

The course is designed to cover the economic, organizational, and cultural underpinnings that students need to grasp in order to better understand the managerial challenges that global organizations of all types and sizes have to cope with. Participants will gain the detailed knowledge and practical experiences they require to understand how organizations can achieve a competitive advantage in a globalized world. This course includes case studies and an optional international field trip (Note: special conditions apply – availability depends on demand, special conditions apply, and final assessment becomes a 100% written case study analysis). This course will enable students to describe and contrast a set of sustainable corporate and functional strategies in the context of globalization. They will have a detailed understanding of the extent to which globalization and internationalization strategies affect the organizational structures and value creation of global firms.

Course Objectives and Outcome:

On successful completion of this course, students will be able to:

• Recognize and explain the cultural, social, economic, historical, and political differences that affect strategic decision making on an international/global scale.
• Gather specific information and conduct reliable assessments of the opportunities and risks related to business activities in different geographical market regions and specific national markets.
• Describe the impact of culture on international business activities.
• Identify different options for market entry and market development and participate in strategic planning activities that address these issues.
• Design and evaluate different organizational structures for international businesses and design measures to optimize organizational structures for international operations.
• Design, evaluate, and optimize human resource management practices for global and multinational companies.
• Explain options for international marketing and select an appropriate marketing mix relative to specific products/services and the target market.
• Plan multinational or global supply chains.
• Oversee strategic decisions regarding international accounting practices and the remuneration of expatriate staff.
• Identify and manage challenges associated with operating in an international/global business environment, such as the procurement and coordination of resources and human resource management.
• Develop business plans that implement specific organizational, marketing, and distribution strategies in selected regions/countries.

Teaching Methods:

A variety of learning materials are offered to students: depending on the course, these include printed and online course books, vodcasts, podcasts, online tutorials, case studies, and online knowledge tests. This range of learning materials are offered to students so they can study at a time, place, and pace that best suits their circumstances and individual learning style.

Course Content:

1 Introduction to Managing in a Global Economy

1.1 What is Globalization?

1.2 Facts on Globalization and the Global Economy

1.3 Theoretical Explanations for Globalization

2 The International Company and its Environment

2.1 International Companies and their Operations

2.2 Operational Patterns in International Markets

2.3 Assessment of the Environment for Internationalization

3 Culture and International Business

3.1 A Generic Perspective on Culture

3.2 Organizational Culture

3.3 Cultural Diversity and the Contemporary Manager

4 Strategy Development in International Business

4.1 Strategy in Globalized Business Operations

4.2 Strategy Concepts and Strategic Options

4.3 Managing Strategy

5 International Human Resource Management

5.1 Characteristics of International Human Resource Management

5.2 The Global Manager

5.3 Instruments in International Human Resource Management

6 Organization in International Business

6.1 Traditional Perspectives on Business Organization

6.2 Modern Views on Business Organization

6.3 Coordination and Control of Intra-Organizational Collaboration

7 International Marketing

7.1 Marketing in International Business

7.2 Strategic Choices in International Marketing

7.3 Marketing Mix Choices in International Marketing

8 Supply Chain Management and Accountancy in International Business

8.1 Supply Chain Management and International Business

8.2 Quality, Supplier Networks, and Inventory in Supply Chain Management

8.3 Accounting in International Business

Literature:

• Beamish, P. W., Morrison, A. J., Inkpen, A. C., & Rosenzweig, P. M. (2003). International management: Text & cases (5th ed.). New York, NY: McGraw Hill.
• Daniels, J. D., Radebaugh, L. H., & Sullivan, D. P. (2013). International business, environments and operations (14th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
• Hill, C. (2011). International business: Competing in the global marketspace (8th ed.). New York, NY: McGraw Hill.
• Johnson, G., Scholes, K., & Whittington, R. (2008). Exploring corporate strategy (8th ed.). Harlow: Pearson Prentice Hall.
• Morgan, G., Kristensen, P. H., & Whitley, R. (Eds.). (2001). The multinational firm: Organizing across institutional and national divides. Oxford: Oxford University Press.
• Wall, S., Minocha, S., & Rees, B. (2010). International business (3rd ed.). Harlow: Prentice Hall.
• Werner, S. (2002). Recent development in international management research. Journal of Management, 28(3), 277–305.

Prerequisites to Qualify for Assessment:

• Course evaluation

Assessment:

Written Assessment: Case Study

Student Workload (in hours): 150

Self-study: 75
Self-testing: 30
Tutorials: 45