MGMT- 321 International Business Fall Semester 2013

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MGMT- 321 International Business Fall Semester 2013 Instructor Room No. Office Hours Email Muhammad Ayaz 4-19, 4 th Floor SDSB Building TBA muhammad.ayaz@lums.edu.

1 MGMT- 321 International Business Fall Semester 2013 Instructor Room No. Office Hours Muhammad Ayaz 4-19, 4 th Floor SDSB Building TBA muhammad.ayaz@lums.edu.pk Telephone Ext: 5134 Secretary/TA TBA TA Office Hours TBA Course URL (if any) Course Basics Credit Hours 04 Lecture(s) Nbr of Lec(s) Per Week 02 Duration 1 Hour 50 minutes Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration Tutorial (per week) Nbr of Lec(s) Per Week Duration Course Distribution Core - Elective Elective Open for Student Category Close for Student Category COURSE DESCRIPTION The last two decades have witnessed unprecedented activity in the arena of international business. The world trade has skyrocketed, foreign direct investments have ballooned and cross-border mergers & acquisitions have substantially increased. Interestingly, the world is now staring at the prospects of a grim and lengthy recession, comparable only to great depression of 1930s, with many pointing fingers to the evils of globalization. Nonetheless, regardless of our love or hate for the interconnected world of 21 st century, the businesses have no choice but to understand the mechanisms and intricacies of international business, in order to operate effectively in today s seemingly turbulent markets. The objective of this course is to provide the course participants an understanding of international business from a global and multinational management perspective. The curriculum provides an understanding of the dynamics of international business. The course mainly focuses on two areas the environmental components of international business and the strategy & operations of the multinationals in a changing global economy. The relevance of various issues to Pakistani businesses will also be debated, wherever applicable. This course has been designed to be challenging, and interesting. It deals with the contemporary topics, and also the concepts that have been well established in this domain over the past couple of decades. The course requires prior understanding of basic management principles. Therefore, students seeking enrollment must have taken the basic management courses. Lectures and class discussion will be the principal method of instruction supplemented by videos and case studies to illustrate and highlight particular aspects of international business. Class participation is strongly encouraged. Students will be evaluated on the basis of their performance on tests, assignments, project, class discipline, attendance and participation. 1

2 COURSE PREREQUISITE(S) Lahore University of Management Sciences Principles of Business Management COURSE OBJECTIVES The objective of this course is to provide the course participants an understanding of international business from a global and multinational management perspective. The curriculum provides an understanding of the dynamics of international business. The course mainly focuses on two areas the environmental components of international business and the strategy & operations of the multinationals in a changing global economy. Learning Outcomes Upon completion of the course the students should be able to: Grading Breakup and Policy Assignment(s): 10% Quiz(s): 15% Class Participation: 5% Midterm Examination: 20% Project: 20% Final Examination: 30% 1. Develop an understanding of the complexities of international business environments 2. Examine how firms are managed and how they expand and compete in a global business environment 3. Demonstrate necessary analytical skills to evaluate important factors that need to be accounted for in international business decisions and strategies Examination Detail Midterm Exam Yes/No: Y Combine Separate: Duration: Preferred Date: Exam Specifications: Final Exam Yes/No: Y Combine Separate: Duration: Exam Specifications: COURSE OVERVIEW 2

3 Students are responsible for having read the chapters in accordance with the dates below. Read the material BEFORE coming to class on the day it is to be discussed. Other reading materials may be assigned in addition to those in the schedule below, but these will be mentioned at least one class period in advance Week/ Lecture/ Module Topics Recommended Readings International Business- A Background Objectives/ Application 1 2 Course Introduction and Overview of International Business Ch. 1 (Hill); Globalization and International Friedman, Thomas. "It's a Flat Business World, After All." The New York Times Magazine, April 3, 2005 International Business Environment To provide an overview of the process of globalization and explain how it has changed the global business environment. 3 International Environment: Political & Legal Ch-2 (Hill); 4 5 International Environment: Economies Global & Regional International Environment: Culture Ch-4 (Daniels) Ch. 3 (Hill); Fox: China s Changing Culture and Etiquette To understand the dynamics of global business environment spanning political, legal, and cultural arena and its implications for businesses. 6 Documentary: Brits Get Rich In China International Trade, Investment and Institutions International Trade Theory Ch- 5 (Hill); Porter: The 7 Competitive Advantage of Nations 8 Government Influence on Ch- 6 (Hill) International Trade 9 Foreign Direct Investment Ch-7 (Hill) 10 International Institutions and Ch-8 (Daniels) agreements 11 World Financial Environment Ch-9 & 11 (Hill) 12 Documentary: Black Gold To understand the different perspectives on international trade and investment policies and their implications. Also, this section is set to familiarize the students with the global monitoring and regulatory structures. 3

4 The Strategy and Structure of International Business The strategy of International Business Assessing Emerging and Established Market Opportunities Ch-12 (Hill); Ch-12 (Daniels); Kuemmerle: Go Global or Not 15 MID TERM EXAM Entry Strategy and Strategic Alliances Ch- 14 (Hill); Osland, Taylor and Zhou: Selecting International Modes of Entry 16 and Expansion Competing in Emerging Economies Khanna & Palepu: Strategies that fit the emerging markets, Khanna & Palepu: Emerging Giants. Building World Class Companies in developing countries ; Emerging market multinationals: the challengers Economist Jan10th, 2008 The Organization of International Ch-13 (Hill) Business International Business Operations 19 Exporting, Importing, and Ch-15 (Hill) Countertrade 20 Global Production, Outsourcing, and Ch-16 (Hill) Logistics 21 Marketing Globally Ch-17 (Hill) 22 Country of Origin Issues in International Business Deshpande: Why You Aren t Buying Venezuelan Chocolate To introduce students with different global business strategies and their pros and cons. Also, how international business firm can be matched to strategy to improve the performance. To understand how operations in a global business firm are managed. 23 Global Human Resource Management Ch-18 (Hill) International Business and Society 24 Ethics in International Business Ch-4 (Hill) Economic Imperialism Robins, Nick: Ch-2 of The 25 Corporation that Changed the World; The East India Company: The company that To familiarize the students with ethical issues in international business. 4

5 26 Lahore University of Management Sciences Documentary: The World is Flat- The other side of the outsourcing. 27 Project Presentations 28 Project Presentations ruled the waves, Economist Dec 17 th, Textbook(s)/Supplementary Readings Textbook: Hill, Charles W. L., Wee C.H, Udayasankar, K. International Business: An Asian Perspective. New York, NY: McGraw Hill/Irwin, 2012 Course Packet available at LUMS photocopier Reference: Daniels, John Day, Lee H. Radebaugh, and Daniel P. Sullivan. International Business: Environments and Operations. London [u.a.: Pearson Education Internat., Useful Information about Grading Scheme CLASS CONTRIBUTION/ASSIGNMENTS Participation: It is expected that students regularly attend class, arrive punctually to class, and remain up-to-date on assigned readings. Note that you are expected to read the assigned readings before each class. This will facilitate meaningful discussion about the material in the class. You are strongly encouraged to ask questions and make comments on the material. You are also required to attend all group project presentations. Your participation grade will reflect the degree to which you contribute to class, rather than simply whether you are physically present. Excellent class participation is characterized by consistently attending class, arriving on time, contributing to discussions, being well-prepared for the assignment, and demonstrating superior understanding and insight on the material. Good class participation is characterized by consistently attending class, arriving punctually, contributing to class discussions, and being reasonably prepared for the assignment, but only occasionally demonstrating superior understanding and insights on the material. Average participation is characterized by consistently attending class and being punctual, but only occasionally contributing to discussions and demonstrating superior understanding and insights on the material. Poor class participation is characterized by tardiness, inconsistently attending class and contributing to class discussion, demonstrating a lack of preparation for the assignment, and rarely demonstrating superior understanding and insights. The instructor will judge class contribution according to his discretion. Assignments: For assignments, the instructor may specify each student in the class to a group. Instructor will assign specific assignments to the group that they are required to complete on time. On such assignment will be about Current Events. You are expected to be aware of international current events. Starting the sixth week of class, members of a particular group (to be assigned) will be responsible for researching the past week s world events, covering most regions of the world (i.e. East Asia, Europe, Mexico/Latin America, North Africa/Middle East, South Asia/Southeast Asia/Australia, and Sub-Saharan Africa) and presenting this to the class. Given that each group is responsible for covering the entire world, groups will decide which group member will present the news about which region. In other words, each group member has a separate event from a separate 5

6 region of the world to individually research and present to the class so that as a whole, the group covers events from each region. In class, each student will give a brief summary of an event that occurred somewhere in the region, mention how this event affects international business, and answer any questions the class may have about this event. A copy of the page or printout from which the news was taken should be given to the instructor with the student s name on it after presenting to the class. Students who are not present for their turn or do not complete the assignment will receive a zero grade for this assignment. QUIZZES Short unannounced quizzes will be taken. The number of quizzes will also be unannounced, but is expected to be 4 to 5. The lowest quiz would be dropped. Although no make up quizzes will be given, please also refer to the Attendance Policy section above in this regard. COURSE PROJECT Groups will be formed no later than the third week of class. Each group will be randomly assigned a particular region of the world. Within this region, you may select one country to research. A written note with your group s selected country in this region along with a second choice must be given to me no later than the beginning of class in fifth week, as I need to approve your country choice. For that country, your group will survey the political, economic, legal, cultural, trade, and monetary environment. In addition, each group is expected to outline the challenges and opportunities of conducting business in the country and provide relevant guidelines for successful international business ventures in the country based on their research about the country as well as international business. I recommend you to approach this project as a consulting firm or government agency providing information about this country to businesspeople in Pakistan. This report should be able to be used by a firm located in Pakistan that may be interested in doing business with your selected country. A possible outline that includes major topics for your report is: 1. Introduction 2. Political Environment (political system, structure, political parties, political risk) 3. Legal environment (legal system, legal issues in international business, legal risk) 4. Economic environment (economic system, main products and services, economic risk) 5. Monetary environment (currency system, currency risk) 6. Trade environment (major exports/imports, main trading partners, regional economic integration, tariff and trade barriers, government incentives for conducting business there) 7. Cultural analysis (cultural determinants, cultural dimensions, norms) 8. Outline of challenges and opportunities of doing business in the country (i.e. analysis and integration of information from other parts of the project and other country data) 9. Guidelines for success when doing business in the selected country The written report should be pages in length (single-sided, typed, double-spaced, and error free in point font), excluding the cover page, table of contents, list of references, and appendices. In addition to the main content, all written reports must include a cover page, a table of contents, page numbers, a list of current references (minimum of 10), and an appendix of key figures, charts, and the like. References should be written in American Psychological Association (APA) or Modern Language Association (MLA) format. If you are not familiar with these formats, consult manuals in the library. Current references should come from a variety of sources such as journals, websites, and books. Do not use the internet and textbook as your sole resources. You are encouraged to use headers and sub-headers to label different sections of the paper. Since points will be deducted for spelling and grammar mistakes, I strongly recommend that each group have its report proofread by a writing tutor prior to submission. A detailed outline of the country project report is due in 8 th Week (exact date will be announced later). The outline should list the main points that will be made for different sections of the report. As I will provide feedback on your detailed outline, this is your opportunity to determine whether you are on the right track in terms of content and format, and you are encouraged to have already thoroughly researched the different portions of the report and have decided on a general organizational structure for the report. Groups are encouraged to meet with me during office hours to discuss my comments. 6

7 A hard copy of the final report is due in 12 th Week (exact date will be announced later). Each group is also required to send a soft copy of the final report. Please name this file [Country Name]-Final Version An e-copy does not replace a hard copy. Both a hard and e-copy are required to receive a grade for the project. Plagiarism is a serious, punishable offense. University s ethics code applies. Project Presentation Each group will present a brief summary of its findings, including all group members in the presentation. Group presentations should be minutes in length and should cover key points. It is not necessary to present everything in your report: you should focus on a sub-sample of the most interesting and relevant points of each section of the report and include major challenges and opportunities as well as recommendations for successful business ventures in the country. Creativity is encouraged in all presentations. You may wish to consider using role plays, mock business meetings, interview formats, or other devices to maintain interest. 7

Lahore University of Management Sciences. FINN 321 Econometrics Fall Semester 2017

Lahore University of Management Sciences. FINN 321 Econometrics Fall Semester 2017 Instructor Syed Zahid Ali Room No. 247 Economics Wing First Floor Office Hours Email szahid@lums.edu.pk Telephone Ext. 8074 Secretary/TA TA Office Hours Course URL (if any) Suraj.lums.edu.pk FINN 321 Econometrics