International Management and Business

Syllabus

Thematic definition of lectures: 1. Introduction into international management and international business - Introduction to the content and structure of the subject, forms and methods of teaching. History and present of international business and trade. International management – theoretical background, definition and position in today's world. 2. Globalization and local adaptation - theoretical foundations, factors, impacts, advantages and disadvantages of globalization on business. Globalization of markets, globalization of production. Basic theories of internationalization of business, obstacles and supporting tools of internationalization. Local adaptation - the essence, importance and significance in the global business world. 3. Decision-making about internationalization - decision-making for and against internationalization, strategic steps of companies in foreign markets. Market selection analysis – selection of attractive markets, PEST analysis and its modifications. Methods of selecting attractive foreign markets (traditional and online modern tools). 4. Entry strategies and entry modes – theoretical background - theoretical background, essence and entry forms. Classification of forms of entry into foreign markets. International strategies of companies from around the world (ways in which companies internationalize in foreign markets – best practice of American, Chinese, Israeli and Scandinavian companies). 5. Exporting - definition, background and development of export. Export in the European Union and in Slovakia. Forms of export. Pro-export policy of the Slovak Republic and export support. Exporters of Slovak Republic. The impact of exports on the global economy. Export structure, current examples and statistics. 6. Licensing and franchising - nature and meaning of licenses, effects of licenses, classification of licenses, types of licenses. Franchising as an effective form of entry into foreign markets - the essence, importance, contracting parties, international franchising agreement, types of franchising, franchising as a tool of internationalization. Fundamental steps in the case of building a franchise network and selecting franchisees. 7. Joint Ventures and Strategic Alliances - Joint Venture, strategic alliances - definition, classification, nature and functioning of cooperative forms of entry, differences between JV and strategic alliance. The process of creating forms of cooperation in foreign markets. Basic JV models and their definition. 8. Wholly owned subsidiaries. (Greenfield projects, M&A) - Subsidiaries abroad - foreign direct investment (Greenfield, brownfield), acquisitions and mergers. Classification, advantages and disadvantages. The process of establishing foreign subsidiaries abroad, the acquisition process. Acquisition strategies. Acquisition of culture. Examples from practice and various industries. Examples of success and failure - investing in a green field vs. acquisitions. 9. Multinational Enterprises – definition, essence and meaning of MNC. Classification, development and current position of MNC in the global world. Positive and negative impacts of the MNC on the economy, businesses and individuals. The future of multinational enterprises. Examples from practice (positive vs. negative). Multinacionality criteria (qualitative, quantitative). Perlmutter's concept of multinational business management. 10. Culture impact on international management – culture and its impact on management, aspects and components of culture. Cultural specifics (Eastern vs. Western cultures). Dimensions of culture according to G. Hofstede. GLOBE project and cultural clusters and dimensions. Understanding cultural nuances. Development of intercultural competence. The influence of culture on business management (management of multicultural teams, communication with the global customer, the existence of the company in the international space). 11. The impact of internationalization on marketing activities. Building a global brand – specifics of MNC management in the field of marketing, marketing strategies and global brand building. Specifics of marketing within international companies. Brand building, targeting and positioning in a global world. 12. Ethics, corporate social responsibility and sustainability- ethical issues in global business. Ethical dilemmas. Strategies for building corporate social responsibilities activities, the importance and essence of CSR, sustainability and ethical behavior as a new value in building the mission of business in today's global world. 13. Global business in the world and in Slovakia – impacts, positives and consequences of international trade on economies. Examples of good practice from the Slovak and global environment. Social, economic, environmental and value impacts of global trade on countries, businesses and individuals. Thematic definition of seminars: 1. Introduction into international management and international business - Discussion on the topic: What are the effects of globalization on business and the individual? (Application of critical thinking). Case study focused on building a global business (Coca-coca, Ikea, and Apple). Elaboration of an essay on the topic: “Evaluation impacts of the COVID-19 epidemic in my home country.” 2. Globalization and local adaptation - Local Adaptation - Homework Discussion: Essay. Case study: internationalization of business: ESET – IT company. Walmart. Starbucks. Discussion: How important is local adaptation in today global world? 3. Decision-making about internationalization - case studies: Asos.com, Martinus.sk. Discussion on the possibilities of internationalization of business within Europe. Identification of attractive business markets based on the application of selected criteria of selection analysis. 4. Entry strategies and entry modes – theoretical background - presentations of attractive markets of countries based on selected criteria (completion of the task from the 3rd week). Discussion on the appropriateness of choosing forms of entry into foreign markets based on of specific cases of companies. Failure cases (incorrect form of entering a foreign market) and identifying the causes of failure. 5. Exporting - case study: Export of Slovak products to selected foreign markets. Analysis of exports and export policy of a selected country within the EU, discussion of the advantages and disadvantages of exports as a form of entry into foreign markets. 6. Licensing and franchising - case studies focused on franchising: McDonald´s. Fornetti Slovakia. Comparison of franchising concepts in practice (teamwork: comparison of two real franchising concepts, with a subsequent discussion focused on justifying the choice of a more attractive concept in the conditions of the Slovak Republic). 7. Joint Ventures and Strategic Alliances - case studies focused on acquisitions and mergers: Case study: Company growth through international acquisition. Case Study: Walt Disney Acquisition Strategy. 8. Wholly owned subsidiaries. (Greenfield projects, M&A) - Subsidiaries abroad - case studies focused on building investments in a green field: Automotive industry in the Slovak Republic. Summary case study (teamwork): Selection of a suitable form of entry for Slovak startups (team presentation and discussion). 9. Multinational Enterprises - Discussion on the topic: Positives and negatives of the existence and functioning of multinational societies in today's global world. Case studies focused on building multinational companies: Nintendo - a company that likes to play. Procter & Gambler - success in the sign of consumer goods (development of business models Canvas for companies). 10. Culture impact on international management – The impact of culture on international management - case studies on the impact of culture on management and business: Marketing tools in Muslim countries. Tang instant drink in foreign markets. Diesel – how to create marketing with passion. 11. Ethical Business and Corporate Social Responsibility - case Studies: Who Makes Apple IPhone? Patagonia as an example of ethical business. Discussion about ethical production in the textile and clothing industry: Who made my clothes? 12. Global business in the world and in Slovakia- discussion topic: Present and future of global business. New trends and tools that affect business. Examples of good practice from around the world - successful global companies and their story. (Team assignment and brief presentation taking into account the identification of key strategic steps that guaranteed success). 13. International trade and entrepreneurship in the world and in Slovakia - discussion on the topic. New trends and tools affecting business. Examples of good practice from around the world - successful global businesses and their story. (team assignment and brief presentation with a view to identifying key strategic steps that have guaranteed success).