Basics of International Business (3 cr)

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.

Location and time

The course will run in the 4th period, starting week 11.
The link to the online classes will e sent to the enrolled course participants by email.

Assessment scale

0-5

Teaching methods

Online contact lessons, individual and team learning, international team project.

Learning materials

The course material and literature will be informed later.

Student workload

The course is 3 credits which is 80 hours of student's work: 1/3 of the time will be used in teacher led workshops and 2/3 hours in independent studying and teamwork.

Content scheduling

The course plan will be introduced in the first contact class.

Practical training and working life cooperation

An internationalization project will be conducted for a business company according to their project case briefing.

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

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

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

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.