International Business: Global Commerce in the 21st Century

Course Overview

Units at a glance

Many of us think of McDonald’s restaurant as synonymous with America. In fact, McDonald’s are all over the world, and some of their menu items even reflect the cuisine of the country they are in. In Italian McDonald’s, for example, they serve gelato, and in Russia they serve Bolshoi Macs. Altering their menu is one way that McDonald’s succeeds in overseas markets. This unit introduces you to some of global business’s most important topics. We will discuss globalization and describe its influence on markets and production and the forces behind its growth.

When you reach into your pocket you might pull out a few coins or dollar bills what we call money. You probably take for granted that money is valuable, but under what standards is it valuable? Actually, the coins and bills you pull out of your pocket have little actual value, but why do they have value if you are purchasing a good or a service?  In this unit, you will be introduced various monetary systems from around the world. We will discuss the components of money and various foreign exchange activities.

It can be said that a group can get more accomplished than a lone person, so is it also beneficial for a country to belong to a group that cooperates in trade agreements? In this unit, you will be introduced to regional economic integration. We will discuss political relationships in business, and you will learn about various ways countries can encourage and discourage global business. We will then explore how countries can band together to help each other in trade and look at the pros and cons of these agreements. We will also explore an example of regional integration by examining the European community’s agreements.

In business, the money coming into a business minus the money going out of the business shows how well the business is doing. Businesses want this money to be on the positive side, but that is not always the case. In this unit, you will be introduced to the importance of trade relations and policies that control that trade. We will discuss various types of trade agreements and the various types of competitive markets.

What are Philadelphia, Windows, Dove, and Apple? To many people Philadelphia is a city, and windows, dove, and apple are things found in a home or in nature. To others, these are cream cheese, computer software, soap, and a computer. To have a known product name means you must be aware of various legal terms. In this unit you will be introduced to various legal agreements around the world. You will learn about legal systems and liability. We will also explore legal contracts and how to resolve legal differences.

Did you know that there is a Disney park in France called Euro Disney? The park was almost never opened because there was much opposition from the French, who disliked the introduction of so much American culture into France. In this unit, you will be introduced to how culture influences global business. We will discuss various cultures around the world, how culture influences social organizations, communication across cultures, and values around the world.

Have you ever thought about how a business gets started? Many businesses start with only one or two people. In fact, Apple, which today is a multinational corporation, was started by two men. In the international business market having an organizational structure will benefit the whole company. Just as a business plan acts as a blueprint for your business, planning your organization structure helps determine the talent you’ll need to ‘build your business’.In this unit we will discuss various business structures and the advantages and disadvantages of each.

Did you know that Americans are eating less cereal and more bagels, cereal bars and ready to go meals for breakfast? Because of this sales decline there has been increased international marketing efforts by cereal companies. Now cereal purchases in Britain and other European countries is gaining strength. After a product finds a market then the business must decide how to get its products or services to customers. In this unit, you will be introduced to global marketing, logistics, transportation, and distribution channels. We will discuss what global marketing and logistics consists of and how the cost of a product is affected when using global logistics.

Course Highlights

Examine the basic principles of working in the global marketplace.
Analyze business management practices in the global world.
Investigate how culture, politics, and legal factors influence business practices.
Explore how emerging technologies influence international business.

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