Basics of International Business (3cr)

Objectives (course unit)

This course describes the first steps of the internationalization process of small and medium sized enterprises (SMEs). Students learn to make a basic market analysis of a new target market for a company. Students analyze international marketing environment (macro and micro) of the target country and help the company with their internationalization plan.

After completing the course, the students will be able to:
• Search for market information of a new target market
• Describe the contents of an international market analysis.
• Analyze international marketing environment of a target country
• Apply the knowledge of the market analysis to company’s internationalization plan.
• Work effectively in a multicultural team.

Content (course unit)

• How to find market information of a new target market?
• What is international market analysis?
• What are the special features of international marketing environment?
• What knowledge is needed when entering into a new target country?
• How to work effectively in a multicultural team?

Assessment criteria, satisfactory (1-2) (course unit)

The student is familiar with basic concepts of international business. He/she is aware of common export modes. The student knows how to identify factors that indicate potential export markets in order to define market entry modes. The student can identify selected sources of market information and apply that knowledge in the context of a company’s internationalisation strategy. The student is capable of working in a multicultural team.

Assessment criteria, good (3-4) (course unit)

The student has comprehensive knowledge of the concepts used in international business. He/she can analyse and select suitable export modes. The student knows how to identify and evaluate the factors indicating promising export market potential and is able to match them with the most suitable market entry modes. The student can identify a variety of sources of market information and relate that knowledge in the context of a company’s internationalisation strategy. The student is capable of working effectively in a multicultural team.

Assessment criteria, excellent (5) (course unit)

The student has extensive knowledge of the concepts used in international business. He/she can identify, analyse and select the accurate export modes in a variety of situations. The student knows how to identify and evaluate the factors indicating strong export market potential and is able to match them with the most suitable market entry modes. The student can identify an extensive variety of sources of market information. He/she can utilize and apply that market information in the context of a company’s internationalisation strategy. The student is capable of working effectively and productively in a multicultural team.

Assessment methods and criteria

Evaluation focus on students ability to:
• Search for market information of a new target market
• Describe the contents of an international market analysis.
• Analyze international marketing environment of a target country
• Apply the knowledge of the market analysis to company’s internationalization plan.
• Work effectively in a multicultural team.

Assessment scale

0-5

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

Student has limited knowledge of the basic concepts in International Business and Entry Modes, resulting in exam grades 1 - 2. The student is able to list, define and explain the basic concepts. The International market analysis (team project) remains on a basic level and there are some mistakes in the concepts used. The implications to the business in question remain vague.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

Student has good knowledge of the concepts in International Business and Entry Modes, resulting in exam grades 3 - 4. The student is able to use and apply the concepts well in simple tasks. The International market analysis (team project) is sound and the essential knowledge is used and applied. The implications to the business in question are explained and analyzed well.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

Student has excellent knowledge of the concepts in International Business and Entry Modes, resulting in an exam grade 5. The student masters the terms and concepts of the subject matter in an excellent manner. The International market analysis (team project) is detailed and analytical and the essential knowledge is used and applied. The implications are explained and analyzed extensively and team creates new ideas to the business in question.