Class Description
The Global Course in my major that I took was BUSMHR 4010, International Business Strategies, with professor Mona Makhija. This was a half semester class that examined how firms make decisions to go abroad, select among foreign markets, and choose from a variety of international strategies to enhance their profitability and long-term competitive advantage. Along with this, we also discussed how firms structure their investments to mitigate the unique economic and competitive risks encountered in foreign countries. International Business Strategies was structured very well, as I learn well from classes that are more hands on and application based. We would have lectures in class and then the homework would be to read and analyze business cases in order to apply our learnings to real business cases and have instructor lead discussions about the pre-class questions. We examined the international business strategies of a multitude of fortune 500 companies like Amazon, Turkish Airlines, Nokia, etc. to understand the decisions that helped them to reap success in the global market.
Class Reflection
Taking the BUSMHR 4010 International Business Strategies course has been a transformative experience, providing me with valuable insights into the complexities of conducting business on a global scale. Throughout the course, I gained a comprehensive understanding of how firms formulate and execute strategies in the international context, and this knowledge will undoubtedly shape my approach as I pursue a career in finance, specifically as a credit risk analyst at JP Morgan.
One of the key takeaways from the course was appreciating the multifaceted drivers of success in international/global strategy. Understanding the various factors, such as cultural nuances, regulatory environments, and economic conditions, has broadened my perspective on the interconnectedness of the global business landscape. This insight will be particularly relevant in my future career, as assessing credit risk requires a nuanced understanding of the diverse markets and industries.
The exploration of different entry strategies into foreign markets was another crucial aspect of the course. Learning about wholly owned subsidiaries, strategic alliances, joint ventures, licensing, and franchising allowed me to grasp the relative costs, risks, and benefits associated with each approach. This knowledge will prove invaluable in my finance career as I evaluate the financial stability and risk exposure of companies engaged in international ventures, helping me make informed decisions about credit assessments.
Understanding the categorization of international strategies, including international, multidomestic, global, and transnational strategies, has equipped me with a framework to analyze a firm’s unique configuration of investments. This strategic perspective will be a great mindset to approach my role as I assess the financial health and resilience of multinational corporations, considering their international strategies in the context of credit risk.
Moreover, the course emphasized the importance of recognizing and mitigating various risks faced by firms in the international arena, such as competitive, economic, and political risks. This knowledge will be directly applicable in my finance career as I navigate the intricacies of credit risk assessment, ensuring a thorough evaluation of potential risks associated with international market exposures.
Finally, the course underscored the significance of innovation, change, and adaptability in firms’ international strategies. This understanding aligns with the dynamic nature of the financial industry, where continuous adaptation to evolving global economic conditions is crucial. I will apply this insight at JP Morgan by staying attuned to changing market dynamics and incorporating flexibility into credit risk assessments.
Overall, the BUSMHR 4010 International Business Strategies course has not only expanded my theoretical knowledge but has also provided practical frameworks that I can directly apply in my role as a credit risk analyst. I feel well-equipped to navigate the complexities of the global business landscape and contribute effectively to informed decision-making in the financial domain.