MGMT 5326 International Management

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					                                   WAYLAND BAPTIST UNIVERSITY
                                       COURSE SYLLABUS

COURSE TITLE: INTERNATIONAL MANAGEMENT

COURSE NUMBER: MGMT 5326                               LECTURE HOURS: FOUR (4)

NUMBER OF CREDITS: THREE (3)                           INSTRUCTOR: DR. TIM PARKER

ACADEMIC YEAR: 2002                                    SEMESTER: FALL 2002


CATALOG DESCRIPTION: Examines the role of the private business enterprise in the international
economy. Analyzes the nature of foreign trade and direct foreign investment and their impact on income,
employment, and economic growth. Discusses the basis for international trade and the determinants of the
pattern of trade. Considers commercial policies of the United States and other countries and analyzes their
effects on consumers, producers, and investment decisions. Examines a firm’s choice between exporting
and foreign production with emphasis on the influence of taxes, tariffs and transfer prices. Discusses the
balance of payments, exchange rate determination, and the operation of the international monetary system
with emphasis on the effect of the international economy on both domestic and multinational business
enterprise.

COURSE GOAL: To provide a basic introduction to the issues involved in understanding the international
dimensions of management in developing effective strategies for managing in an increasingly complex
world economy, and making those strategies work. The class will be discussing trade, international
financial markets, investment policies, environmental forces, as well as the effect of culture. While the
class discussion will separate these five areas, a business manager has to consider all five together in
developing strategy. The cases and current issues will present opportunities to talk about how the topics fit
together to influence strategy and policy-making.

I.       COMPETENCY OF STUDENT EXPECTED BY INSTRUCTOR
         1. Graduate standing
         2. The ability to analyze and report on business case studies
         3. The skill to perform graduate level research using library resources related to economics,
            finance and marketing.

II.      COURSE STATEMENT OF OBJECTIVES AND OUTCOME COMPETENCIES
         By the end of the course, and through written tests, text-based assignments aided by library and on-
         line research, current periodicals, presentation in class, and research project, the student will
         display knowledge of international management by achieving a weighted average minimum
         proficiency level of 70% in the topical areas on the following course outline.

III.     COURSE OUTLINE

Meeting                  Topics
1 – Chapter 1         Course overview, Diversity and Competitiveness
                      a. Appreciate the dramatic internationalization of markets
                      b. Distinguish between firms of the early 1900s and present-day companies
                      c. Comprehend why international business differs from domestic business
                      d. Understand the various names given to firms that have substantial operations in
                         more than one country.
                      e. Describe the environments in which an international company operates

Readings: None
Meeting                Topics
2 – Chapters 2-3   International Trade and Foreign Investment
                   Economic Theories On International Trade
                   Development and Investment
                   a. Appreciate the magnitude of international trade and how it has grown
                   b. Identify the direction of trade, or who trades with whom
                   c. Explain the size, growth, and direction of U.S. foreign direct investment
                   d. Recognize the value of analyzing trade statistics
                   e. Identify who invests and how much is invested in the United States
                   f. Understand the reasons for entering foreign markets and entry methods
                   g. Recognize the weaknesses of using GNP per capita as a basis for comparing
                       economies
                   h. Explain the many forms of strategic alliances
                   i. Understand the theories that attempt to explain why certain goods are traded
                       internationally
                   j. Comprehend the arguments for imposing trade restrictions
                   k. Explain the two basic kinds of trade restrictions
                   l. Identify the common characteristics of developing nations
                   m. Understand the new definition of economic development, which includes more
                       than economic growth
                   n. Understand why some governments are changing from an import substitution
                       strategy to one of export promotion and the implications of this change for
                       business people
                   o. Explain some of the theories of foreign direct investment


Meeting                Topics
3 – Chapters 4-5       International organizations
                       International Monetary System and Balance of Payments
                       a. Explain the activities of the UN in the economic and social fields as well as
                           those as a peace-keeper.
                       b. Explain the three major parts of the World Bank: its regular loan window,
                           its international finance corporation, and its International Development
                           Association.
                       c. Explain the original and changed activities of the IMF
                       d. Understand how the European Bank for Reconstruction and Development
                           started in the wrong direction but has been turned around
                       e. Compare the successes and failures of the regional development banks
                       f. Compare the powers and activities of the World Trade Organization with
                           those of the GATT, which it replaced, and understand the importance of the
                           WTO to world business and trade
                       g. Understand the potential for the NAFTA
                       h. Understand uses of the OECD for business and students
                       i. Understand the opportunities for business presented by the European Union
                       j. Understand the historical and present uses and attractiveness of gold
                       k. Explain the developments shaping the world monetary system from the end
                           of World War II to the present
                       l. Discuss balance of payments
                       m. Compare the relative strengths and weaknesses of currencies and reasons for
                           them
                       n. Identify the major foreign exchange markets in the world
                       o. Discuss the EMS purposes and difficulties
                       p. Explain the purpose of the European Currency Unit (ECU)
                     q.   Understand the central reserve asset/national currency conflict of the U.S.
                          dollar and the reasons and uses for special drawing rights (SDRs)

Meeting              Topics
4 – Chapters 6-7     Financial Forces
                     Economic and Socioeconomic Forces
                     a. Realize that much money is made and lost in the foreign exchange markets
                     b. Understand Foreign Exchange quotations, including cross-rates
                     c. Recognize currency exchange risks
                     d. Expect currency exchange controls
                     e. Anticipate financial forces such as balance of payments, tariffs, taxes,
                         inflation, fiscal and monetary policies, and differing accounting practices
                         that affect business
                     f. Understand sovereign debt, its causes and solutions
                     g. Understand the credit risk associated with Third World governments
                     h. Understand the purpose of economic analyses
                     i. Observe how a nation’s consumption patters change over time
                     j. Understand the significance for business people of the large foreign debts of
                         some nations
                     k. Ascertain the reasons for the world-wide downward trend in birthrates and
                         its implications for business people


Meeting              Topics
5 – Chapters 8-9     CASE ONE DUE
                     Physical and Environmental Forces
                     Sociocultural Forces
                     a. Understand the importance of a country’s location in political and trade
                         relationships
                     b. Understand how surface features contribute to economic, cultural, political,
                         and social differences among nations and among regions of a single country
                     c. Recognize that climate exerts a broad influence on business
                     d. Understand why managers must be alert to changes in a nation’s
                         infrastructure
                     e. Understand the significance of culture for international business
                     f. Understand the socialcultural components of culture
                     g. Appreciate the significance of religion to business people
                     h. Comprehend the cultural aspects of technology
                     i. Discuss the impact of the “brain drain” and the “reverse brain drain” on
                         developed and developing nations
                     j. Recognize the importance of non-verbal communication in international
                         business
                     k. Discuss Hofstede’s four cultural value dimensions


Meeting              Topics
6 – Chapters 10-11   Politics and Laws
                     a. Understand the importance of the political and legal environments in both
                         the home and host countries to the international business executive
                     b. Learn how governments affect business through legislation and regulations
                     c. See how the political actions of countries expose firms to international risks
                     d. Examine the differing laws regulating international trade found in different
                         countries
                     e. Understand how international political relations, agreements, and treaties
                         can affect international business
Meeting              Topics
7 – Chapters 12-13   Labor Forces
                     Competitive and Distributive Forces
                     a. Understand the political and economic reasons that cause people to flee
                         their home countries
                     b. Recognize forces beyond management control that affect the availability of
                         labor
                     c. Discuss guest workers and problems that may develop because of them
                     d. Explain how the composition of a country’s labor force affects productivity
                     e. Discuss differences in labor unions from country to country and how labor is
                         getting a voice in management
                     f. Explain why international competition has increased among the U.S., Japan,
                         the EU, and Asian nations
                     g. Appreciate the importance of FDI on the American trade position
                     h. Describe the responsibilities of government, management, labor, and
                         consumers in maintaining the international competitivenss of the United
                         States
                     i. Explain the competitive environment in Japan, EU, and the developing
                         nations, including NIES
                     j. Understand the importance of industrial espionage
                     k. Discuss the channel members available to companies that export indirectly
                         or directly or manufacture overseas
                     l. Explain the structural trends in wholesaling and retailing

Meeting              Topics
8 – Chapters 14-15   Market Assessment and Analysis
                     Marketing Internationally
                     a. Explain some of the problems market researchers encounter in foreign
                         markets
                     b. Explain market indicators and market factors
                     c. Appreciate the value to business people of trade missions and trade fairs
                     d. Discuss some of the problems market researchers encounter in foreign
                         markets
                     e. Understand the purpose of an international management information system
                         (MIS).
                     f. Discuss environmental analysis and a modified version, market screening
                         used for market assessment and analysis
                     g. Explain why international marketing managers wish to standardize the
                         marketing mix regionally or world-wide
                     h. Explain why consumer products generally require a greater modivation for
                         international sales than industrial products or services
                     i. Understand how the environmental forces affect the marketing mix
                     j. Understand why at times there are differences between marketing
                         domestically and internationally
                     k. Discuss the distribution strategies of international marketers
                     l. Explain “glocal” advertising strategies
                     m. Understand the intricacies of transfer pricing

Meeting              Topics
9 – Chapters 16-17   CASE TWO DUE
                     Export and Import Practices and Procedures
                     Evolution of Centrally Planned Economies
                     a. Explain why firms export and indicate three problem areas of exporting
                       b.   Describe the main elements of the export sales assistance program of the U.
                            S. Department of Commerce
                       c.   Identify some sources of export financing
                       d.   Describe the activities of a foreign freight forwarder
                       e.   Understand the kinds of export documents required
                       f.   Identify import sources as well as describe the activities of a custom house
                            broker
                       g.   Explain the Harmonized Tariff Schedule of the United States (HTSUSA)
                       h.   Explain the meaning of “centrally planned economies” and market
                            economies”
                       i.   Explain what the East wants from the West and why the East cannot pay for
                            all it wants
                       j.   Indicate why the West continues to sell goods and services to the East
                            despite the large East to West debt
                       k.   Examine efforts of the ex-Soviet Union, the People’s Republic of China
                            (PRC) and some other formerly communist countries to liberalize and
                            modernize their economies and their politics



Research Project Due

Meeting                Topics
10 – Chapters 18-19    Human Resource Management
                       Global Operations Management
                       a. Describe the challenges of managing managers and labor personnel both in
                           individual international markets and in worldwide operations
                       b. Examine the sources, qualifications, and compensation of international
                           managers
                       c. Assess the effects of culture on managers and management policies
                       d. Illustrate the different roles of labor in international markets, especially that
                           of labor participation in management
                       e. Evaluate Japanese, American and European efforts to improve quality and
                           lower costs
                       f. Explain why multinational firms wish to standardize production processes
                           and procedures
                       g. Examine some of the reasons why standardization may be difficult to
                           achieve
                       h. Discuss problems with JIT and describe synchronous production, the
                           American solution
                       i. Explain the four principal factors involved in the efficient operation of the
                           production system
                       j. Examine global sourcing



11             FINAL EXAM

THIS SYLLABUS MAY BE ALTERED IN THE EVENT OF EXTENUATING CIRCUMSTANCES.
REQUIRED TEXT AND SUPPLEMENTAL READING

Text: Ball, Donald A., Frantz, Paul L., Geringer, Michael J., McCulloch, Jr., Wendell H., and Minor,
        Michael S. (2002). International Business: Challenge of Global Competition. 8 th ed. Chicago,
        IL: Irwin.
    The Wall Street Journal – select readings
Online Resources: Pages 30 through 57 of the text contain the most comprehensive list of resources I have
seen. There are over 1200 listings leading to vast quantities of current information.



V.        OFFICE HOURS:                11550 IH 35 North, Room 125

                                       Monday             3:30 pm – 6:00 pm
                                       Tuesday            3:30 pm – 5:00 pm

          PHONE NUMBER:                (210) 826-7595 ext. 120 (work)

VI.       COURSE REQUIREMENTS

          1.   Attendance Policy:
                    Attendance to all lectures is required. If absent from class, it is the student’s
               responsibility to obtain the information missed in class. The University’s Policy on class
               attendance will prevail.
          2.   Make-up Policy:
                    Adherence to test as stated in syllabus. The decision to grant a student’s request for
                    make-up test is solely that of the instructor.
          3.   Students are expected to do eight hours (or more) of outside work and preparation for each
               class session.
          4.   Students who are discovered cheating or committing plagiarism will be awarded a failing
               grade for the course, and may be subject to dismissal or further discipline (University Policy).
          5.   Grading Criteria:

                   Research Project – Group              20%
                   Two Case Write-ups (10% each)         20%
                   Two Examinations                      50%
                   Quality of Class Participation        10%
                    TOTAL                                 100%

These requirements are described in detail below:

a.    Research Project:
      The motivation for this project is to enable you to apply to a situation of your choice, the frameworks
      developed through section four of your text regarding the changing international business environment
      and its interaction with the firm. For this project, select any country (or narrowly bounded region) and
      any industry in that country (or region) that has an international character (i.e. the participation of non-
      local firms). Discuss the evolution of the international business environment in this context with
      attention to the shifting comparative advantage. The role of the state and the emergence of an
      international (or global) industry including the changing modes of entry and the participation of non-
      local and local firms. Based on this historical context, analyze the present conditions in the industry
      including the threats and opportunities and the relative positioning (with respect to the configuration of
      the value-chain) of the various players.
      **** This project is not intended to be merely a data-gathering exercise. While the use of published
      information is important (please mention your sources in your paper), it is important to be able to
       analyze a situation based on partial information. Your ability to assimilate the readings and lectures
       and to employ the concepts proposed in them in your paper is also important.
       **** The paper must be restricted in length to no more than 15 typed, double-spaced pages and is due
       on February 18, 1999. No late assignments will be accepted.

b.     Cases:
       Two case write-ups are required. Each write-up must be restricted in length to 3-5 typed, double-
       spaced pages. The write-ups are due on the day the cases are to be discussed in class. Late
       assignments will not be accepted.
       Case write-ups are intended to be analytical critiques on some central issue of the case being discussed.
       The questions on each case to be handed out in class are meant to be guideline to some of the central
       issues and are not meant to be answered literally in the case write-ups. Also refrain from writing a
       precis of the case or repackaging the information already provided in the case. Based on the
       information provided in the case, be analytically judgmental and evaluative; propose alternate
       managerial views and action plans as often as possible and discuss the relevance and appropriateness of
       the frameworks proposed in the readings and lectures to the case. In short, write what you think of the
       situation in the case and not merely what the author of the case says.

c.     Final Examination:
       The final will be a take-home examination. It will require writing an essay (of 4 to 5 pages in length).
       Express an opinion on one or more given quotations representing interesting debatable issues in
       international management. The examination will be distributed on February 18 and is due on February
       25.

d.     Class Participation:
       Your active participation in the discussion in class is integral to the design of the course. Prior
       preparation of the cases and assigned readings are essential as this background is presumed in the
       lectures and case discussions. By making 10% of your grade dependent on your participation in class
       the instructor hopes to encourage you to be jointly responsible in making this course work.

VII.       PROVISION FOR HANDICAPPED STUDENTS:
           Any student who, because of a disabling condition, may require some special arrangement in order
           to meet course requirements, and should contact the instructor on the first day of class to make the
           necessary accommodations.

				
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