Essay on International Business

Submitted By nakiaj52
Words: 2689
Pages: 11

Week 1:
Physiological Contract: an emotional contract
Fours Ps:
1. Prompt
2. Pay Attention
3. Preparation
4. Participation
Learning is a relative permanent change of behavior based upon a past experience
What is the biggest challenge business individuals are facing?
1. Speed of change
Milwaukee Journal: “Change”-Change is the new constant (in reference to Johnson Controls)
Where is the knowledge lost in too much information?
1. Knowledge-taking the right information to be used to solve problems
2. Wisdom-knowing which knowledge to use
3. Information-
McKenzie’s 7 S’s:

1. Plan to maximize you gain
2. Pattern of behavior
3. Ploy can’t enter the game if we done know how to play the game
4. Position
5. Perspective

Lecture Notes:
Globalizations: the shift towards a more integrated and interdependent world economy
1. The world is moving away from self-contained national economies toward an interdependent, integrated global economic system
What’s is the globalization markets?
a. Historical distinct and separate national markets are merging
b. It’s no longer makes sense to talk about the ‘German market” or the ‘American market”
c. Instead, there is the “global market”
i. Falling trade barriers make it easier to sell globally ii. Consumers taste ad preferences are converging on some global norm iii. Firms promote the trend by offering the same basic worldwide
What is the globalization of productions?
a. Firms source goods and services from location around the globe to capitalize on national differences in the cost and quality of factors of production like land, labor, energy, and capital
b. Companies can:
a. Lower their overall cost structure
b. Improve the quality or functionally of their product offering
Why do we need Global Institutions?
3 Questions you will need to ask/answer:
1. Why do we go international?
2. Where do we go?
3. How do we go?
Week 2:
1. How to tell if a country is rich or poor?
a. Innovation and entrepreneurs are the engines of long-run economic growth
b. Innovation and entrepreneurship help increase economic activity by creating new markets and products that did not previously exist
2. What makes a rich country?
Gross National Income (GNI)
a. We no longer use GDP anymore
b. GNI can be misleading because it does not consider difference in the cost of livings
i. Need to adjust GNI figures using purchasing power parity ii. purchasing power parity- calculated from international currency
c. official figures can also be misleading because they do not account for black economy transaction
d. In addition, GNI and PPP data are static and do not consider economic growth rates
i. China and India are currently categorized as being poor they are growing more rapidly than many developed nations and are expected to become among the largest economies in the world
e. United Nations used Sen’s ideas to develop the Human Development Index (HDI) which is based on
i. Life expectancy at birth ii. Educational attainment iii. Whether average incomes are sufficient to meet the basic needs of life in a country
f. The Gini coefficient- it is a number between 0 and 1
g. Innovation and entrepreneurship requires
Case Study:
1. Introduction about the county
a. General information
b. History
2. What would you do if you wanted to do business in your country?
a. Dos and don’ts
3. Lead a discussion
Market Entry Plan Project Guidelines:
1. Introduction about the county
a. General information
2. What would you do if you wanted to do business in your country?
a. Dos and don’ts
3. Lead a discussion
Ways to keep an Audience attention:
Startling Statement
Name Dropping

Questions of the Day:
1. What is culture?
a. What determines cultures?
i. The values and norms of a culture evolve over time ii. Determinants include:
1. Religion
2. Political and economic philosophies
3. Educations
4. Language
5. Social structure
b. Society- group of