Class Number: International Business 1190
Class Description
This course focused on the political, economic, social and cultural considerations in conducting business globally. How organizations can be successful in global markets was the main topic we discussed often. Techniques to overcome international business barriers were also examined. This class utilized many different techniques to analyze whether or not organizations’ are using there resources correctly. Companies that go global need to make sure they are minimizing there risk and developing systems that add overall value and success to the company.
Some learning outcomes created by the professor included gaining an understanding of the fundamentals of international business & trade, terms, concepts and history. Be able to explain a country’s culture, ethics, norms, politics, economics, and regulatory structure and affirm internal resource that impact the success or failure of a firm in global business. Discuss and define the culture, norms and ethics and the impact on doing business in foreign markets. Explain what a firm resources and capabilities are and define how they impact the success or failure of a firm’s ability in doing business globally. Develop an understanding of the various options firms have in conducting business in global markets as well as how to overcome the liability of foreignness.
Class Reflection
Through the Supply Chain Management program at Columbus State, I have developed several competencies in International Business. These competencies include Critical Thinking, Information Literacy, and Community and Civic Responsibility. I learned a lot about myself and the world through this course that has made a life lasting impact. Below are all my key takeaways and skills I have learned.
I have learned where, when, and how firms should enter foreign markets. I understand how antitrust and antidumping laws affect international competition. I am able to lead a discussion on strategies for mergers andacquisitions. Explain the evolution of economic integration and the economic and political benefits and risks to countries. Discuss and identify determinants of foreign exchange rates impact on purchasing parity. I really enjoyed learning about the four Ps of marketing – product, price, promotion and place. I completed many assignments around this topic and can now outline the principles of supply chain management and logistics. I understand how to explain the four Ps in marketing as they relate to a firm’s unique resources, and how they impact a firm’s success in foreign markets.
Through this course I have acquired a global perspective on how corporate governance mechanisms and social responsibilities vary around the world. It is one thing to complete assignments and learn through readings but is a whole different ball game when you learn through doing. I wish I was able to apply what I learned in real life scenarios. Now that I am graduating and starting my first job I hope I am able to apply all these lessons. My mind has all this knowledge and now it is time to show others and use it to help.
I often engaged in discussions with my family about what I just learned in class. My parents have more experiences than I do and understand the world better than me. They were able to ask me questions that got me critically thinking. I would also like to ask the professor questions that challenged his mindset. These conversations added more depth than a class room setting has to offer. It is important to analyze what is happening in our world and to read the news to understand and be able to spark conversations with others about their beliefs. This goes along with having a curious mindset and to never stop learning.
The international environment impacts all aspects of business. Business students need to learn the international dimensions of business activities in order to be successful in today’s business world. More than ever, successful firms in this day and age must increasingly look beyond traditional domestic markets in order to compete successfully. Even if a firm has no plans to go abroad at this time, firms of all sizes and in virtually all types of industries are encountering foreign competition in their domestic market. Managers must adapt to this changing environment with a strong understanding of how international competition takes place, why it is critical to the performance of their own firm, and how to develop international strategies that will enhance their performance.