- Students will understand what international business & globalization are
- Students will understand how the global environment impacts business
- Students will understand the benefits of entering a global market
- Students will understand various strategies for entering a global market
- Students will understand how global differences can impact business relationships
In class, we'll cover the following sections from our book using the links and materials below.
Globalization, International Business, & Trade
We are going to focus on the following parts of this section:
- Globalization and Business
- Review external forces
- Impact of Globalization on Global Business
- Global Markets and Business Opportunity
We will cover the first part of the section and watch the video together. We'll talk about the impact of globalization and review external forces.
Choose an international company, not a restaurant, and describe the benefits that business might have by operating in foreign markets. Make sure your examples/items are specific to that business. Use the Global Markets and Business Opportunity section for help and examples.
Here is what you should have from both sections:
- Impacted by :
- Choose one external force:
- The Global Economic Environment
- The Global Legal Environment
- The Global Competitive Environment
- The Global Technological Environment
- The Global Social Environment
- Choose one external force:
- Benefit from:
- Access to Factors of Production
- Innovation and Ideas
- Risk Reduction
Share a Google document and add this information to this collaborative page. Make sure to include group names and images/links. Be ready to share what you created with the class.
Global Business Strategies
This section looks at ways a company can enter a global market. First, we'll briefly cover FDI together. We will get an overview of the section and then break into groups for the project.
The Assignment - Global Business Strategy Story 20 pts
We will break up into groups by numbering off (up to 8). Each group will get a strategy for entering a global market. Learn about your strategy and any advantages/disadvantages. You will use Adobe Spark to create either a visual or audio story about a fictional company using your strategy to enter the global market. Your story needs to include the following (15 pts):
- What is your fictional company? What do they do? Who are the owners or other key players?
- Why is your fictional company moving to a global market?
- How will your company use your strategy to break into a global market?
- What is one advantage or disadvantage of using your strategy?
- Make to include plot, characters, and other aspects of story writing (5 pts)
- Make sure to include images/media to enhance your story
Remember you are telling a story, not just listing facts and data. If you choose to create an audio story, you may need to leverage BYOD to record the audio with someone's device. Add your story to this collaborative page and send it to me on Schoology with your group member's names. You will present your stories to the class when finished (5 pts). Points awarded/lost based on the creative/original computer rubric.
We will see what you learned from the presentations using this Kahoot.
Global Trade Forces
To be successful in a global marketplace, businesses need to understand and appreciate the differences they will encounter. Our next section covers many of the differences a business might face.
For example, customs and taboos are general rules of etiquette or behavior, and they vary from country to country. Swedes don't like to argue and might change the subject to avoid an argument (http://businessculture.org/northern-europe/sweden/). When working with a Sweedish company, it would be important to avoid petty or meaningless arguments. It would also be important to recognize when someone is changing the subject to avoid an argument (searched for "Sweden international business punctuality").
Look over this section of your book. There are five main categories of differences covered in this section.
- Sociocultural Differences
- Customs and Taboos
- Time and Punctuality
- Business Norms
- Religious Beliefs & Celebrations
- Political and Economic Differences
- Legal Differences
- Physical and Environmental Differences
- Tariff and Nontariff Trade Restrictions
You need to prepare for a big international business deal. Choose a company from a country other than your own. Get ready for your business deal by researching the differences you need to be aware of. Choose seven differences from the list above and answer the following questions for each difference.
- How is this country different in this area?
- How might this area affect business relationships or deals?
Include images to enhance your examples. You can work with one other person.
Share a link to your Google Doc and add it to this collaborative page.
Choose a country other than your own. You will become a business person from that country. Learn about three sociocultural differences for that country (eg. values, business norms, culture). Find someone from another country to do business with and complete the following steps:
- Teach each other about your sociocultural differences
- Create a business transaction and explain how the sociocultural differences you learned about would be important
Add the information from step two to this collaborative page. Be ready to share with the class.
In class, we'll watch this short video about exchange rates. Take a few minutes and check out the current currency exchange rates here. We'll also talk about how someone might do this for a career.