Learning outcome / competences
Having passed the module students have the following knowledges and skills:
- Students understand the environment, processes, and effects of international business and analyse the various economic functions regarding cross-border flows of goods and factors. The students acquire and implement knowledge that is necessary to sell and produce abroad.
- They can distinguish various generic models of internationalisation and develop advantages for their companies.
- They are able to do extensive country analyses using international ratios/indices and derive consequences for market management/development, value chain management and timing strategies.
- They can apply the criteria for managing foreign markets depending on the sector or company size and strategy, and develop a consequential market management/development strategy.
- They know the main tools of an international risk analysis and are able to compare and develop strategies of risk avoidance, risk shift, and risk mitigation appropriately. Moreover, they apply the main tools of risk reduction
- They can assess the importance of cultural influences on corporate organisation and strategy and utilize this perspective for their company.
The content of this module is defined by the areas of international market entry, international marketing and production, organisation of international companies as well as significant factors such as cultural differences of customers, employees, suppliers etc. With regard to export procedures and techniques the focus lies on contract design with and without consideration of Terms and Conditions, payment conditions using letter of credit or documentary collection, and hedging foreign exchange risks to name but a few. International marketing not only refers to the respective sales-related tools. The fundamental knowledge for the creation of a foreign branch or a joint venture are dealt with as much as the analysis of how to find distribution partners abroad.
Further topics are:
- International business and marketing strategies
- Risk control in international business transactions / international trade
- Forms of international activities (export, franchising, subsidiaries)
- Organisation of international companies
- World trade structures and international frameworks
- Internationals institutions
- Country analyses / selection of international locations
- Intercultural management and international HRM
Multidisciplinarity / links:
Re-financing opportunities are dealt with in the module Investment and Finance Models;
Hedging strategies on the basis of statistical regression analysis in the module Project Analysis & Strategy; International aspects of purchasing in the module Marketing & Sales and in the seminar Marketing & Sales. The issues of supply chain management in the module Operations Management.