M€M1 – International Business Strategy
The course is designed to:
Ø To give an understanding of how the firm develops internationally.
Ø To introduce key concepts in the area of internationalisation, international business development and international strategy
Ø To familiarize students with international business strategies of large companies
Ø To encourage an interest in small and medium sized enterprises and their internationalisation efforts
This will give students an awareness of the strategic processes involved in this development and will:
Ø Encourage participants to develop an ability to use their understanding of internationalisation to develop strategy for business development in the global environment.
Ø Give students practical experience of setting strategy through use of lecture material and class discussions. Thus it will enable them to understand the need to work together in a group environment.
Ø Assist them to develop an understanding of the effects decision-making have on the international development of the firm, especially from the perspective of the smaller company which is pertinent to today’s global and technological market place..
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M2 – International Law
Objectives
The objective of this course is to introduce students to the field of international law as a rapidly expanding area of study and an integral part to the stability of worldwide markets. Students will develop an understanding of the relationships among various judicial, political and economic institutions on the international scene. The student will also be introduced to specific legal concepts, which have developed in international law and will be taught how international treaties and contracts are interpreted and treated legally. Additional emphasis will be placed on GATT, NAFTA and various other free trade areas to allow the student to understand how the law encourages the formation of international markets. The student will then examine particular problems in international commerce such as contract formation, competition, employment abroad, and protection of intellectual property rights.
Description
International law encompasses both the legal relations between states (public) and relations between individuals, corporations and states (private) that cross national boundaries and involve the interests of more than one country. This course is designed to introduce students to the basic tenets of the law governing international business transactions. After a brief introduction into what is included under the broad rubric of international law, the course will focus on topics specifically related to international business law. We will begin with the actors: states, individuals and corporations, especially the forms and regulation of multinational business enterprises. Our analysis of international trade law will include the most important trade agreements (GATT, WTO) both international and multi-lateral.
This will be followed by a close look at the most important aspects of international commercial law. Students will study the laws regulating the international sale of goods, including various contractual issues, such as risks, remedies, transportation, financing problems and the particularities of documentary sales. The remaining time will be devoted to analyzing problems of dispute resolution, such as methods of settling disputes, choice of law and recognition of foreign judgments.
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M3 - Economics
Objectives
Lectures require students with maturity and intellectual curiosity. They are designed to encourage independence of thought. Students will form their own opinions by integrating what they have read by a dialectic process of reasoning and hypothesis testing, rather than memorising from books. The essence of such a system is that the students take the initiative on the assigned topics and their own term paper.
Description
Initially there will be an introduction to basic economic theory.
Thereafter there will be assigned a contemporary economic topic to consider for the following day when there will be a discussion of replies and questions and answers. This will enable students to use economic theory and analysis to address real world problems.
Course Content
This course is an introduction to Economics as a subject focused on the international business world, but in particular Europe.
Students will be taught the fundamentals of economics, demand/supply theory, and all other pertinent topics necessary for an understanding of the relationship between economic theory and international business growth.
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M4 - Marketing
Objectives
• To understand international markets and define the best marketing strategy to develop business in a global world.
Description
• Defining a marketing strategy in an international Context.
- An international market or international markets?
- Definition of marketing.
- Key issues for a European approach versus an international strategy.
- A marketing mix.
• Marketing Business Cases.
- To support theory by real situations.
- To share international experiences with students.
• Understanding the international Consumer.
- How can we define an international consumer?
- Do we have consumer research to better understand the consumer?
• The International Distribution Network.
- How can we prepare business for an International distribution network?
- What are the key issues for trade?
- How can we define a price policy?
• Communication Strategy.
- How can we develop a communication strategy?
- How can we develop an advertising campaign?
• Preparing an international Recommendation.
- Approaching the trade dimension - store check.
- To prepare the business case and understand trade issues, focusing on pharmacies, supermarkets and the Internet.
- Work-out session on Aquafresh case.
• Sharing Experience with Professionals.
- Discussion of the alcohol business.
- International Brand Management
- Marketing of Services in Europe.
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M5 – Business & Culture
Course Presentation and Organization of Project Teams
Introduction to Cross-cultural Management : Experiences of the Participants
The Theoretical Basics of Cross-cultural Management
What is Cross-cultural Management
Why Study Cross-cultural Management?
Defining Culture
The Major Theorists, Hall + Hall, Hofstede, Trompenaars/ Hampden-Turner
Management Implications
Is Culture Changing?
Cultural Diversity in Europe
The Importance of Cross-cultural Issues for International Management: Case 1
Presentations: Cross-cultural Management Failure Presentation, Discussion and Debriefing
Developing Cross-cultural Sensitivity: Becoming More Effective in the Global Workplace
Conclusion: How Much Adaptation is Enough?
Written Evaluation (in-class)
M€M6 – Business Planning and Research (Double Course)
Objectives
This course acts as an introduction not only to business research but the business planning process. It is therefore an extended course of two sessions giving sixty hours of tuition and worth 6 credits. It explores the design of business research as a basis for the dissertation requirement of the programme and looks at the forces within the business that need planning for strategic success. These two are interlinked in that they both require focus and research methodology and are pre-requisites of successful strategy and business design and planning and further items of research such as market research, strategic development and dissertation and business research.
Description
Topics include :
General Outline
Part I: Business planning
Change management
Corporate decision making
Part II: Business research
This part of the module introduces business research methods and techniques. It facilitates the participants interaction with the process via a number of informal seminars linked to research-based exercises. The order and agenda of the sessions may be moved around to best suit the recipient’s style, pace, and experience with research methods.
The Dissertation Process
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M7 – Financial accounting
Objectives
This course presents the concepts of bookkeeping, basic accounting and develops these basic principals to an understanding of Financial Accounting. There is an emphasis on the identification, determination, and analysis of trial balance, profit and loss, balance sheet and the ideas of balance sheet and company investigation. This will include financial scrutiny of company statements through the use of a variety of analyses including ratio analysis.
Upon successful completion of this course, the student should be able to:
Carry out all aspects of basic accounting functions
Recognize company financial behaviour patterns
Perform ratio and other company statement analysis
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M8 –Management Accounting
Objectives
This course presents the concepts of Managerial Accounting, with an emphasis on the identification, determination, and analysis of costs for the purposes of managerial planning and control. Emphasis is also placed on the analysis of cost behaviour, standard cost identification, budgeting, and responsibility accounting. The course will utilize a variety of instructional methods such as exercise sets, case studies, project and additional readings.
Through completion of this course, students should demonstrate skill improvement in the following areas:
Define different types of organizations, their objectives and the manager’s need for information
Assessment
• 50% Homework - Case analyses and student participation
• 50% written paper
M€M9 – International Finance
Objectives
This course presents the concepts of International Finance and the funding of corporate bodies and government spending. It involves the students in Stock Markets and Bonds and encourages them to understand the international movement of funds and capital.
Through completion of this course, students should demonstrate skill improvement in the following areas:
Students will be evaluated in the following areas as one method of determining the level of achievement of course objectives:
M€M10 - International Banking
Objectives
This course explores the current features of and future prospects for international financial markets. Topics include: the state of capitalism; global financial markets: national regulatory frameworks; the role of venture capital; and the future of stock exchanges and clearing systems.
Description
Topics will include :
National banking systems
International Banking Systems
Global Capital
The World Bank and its Functions
Assessment
• The Instructor’s assessment will be based on and/or:
• Students attendance at the course
• In-class participation
• In-class exercises
Examination (50%)
M€M11 – International Management
Objectives
This course: - provides students with an overview of International Management.
- presents and explains the main functional responsibilities and changes necessary for a global presence.
- compares cultures both business and local and their effect on international HRM and resources.
Description
· The differences of global management functions
· Consequences of the diversity of International management
· Anglo-Saxon business practises
· Continental business practises
· International analysis of business needs
· The differences between cultures
· International SME behaviour
Assessment
In-class participation : 50 %
Final written paper: 50%
M€M12 – International Market Research and Global marketing (Double course E-learning)
Objectives
This course provides students with an understanding market research in an international context. It encourages the students to work by themselves and to develop group working skills. It develops their management skills by encouraging them to search and discover information and use that information to develop understanding of markets and situations which may be beneficial to the international growth of their firm.
Description
The learning is carried out by distance learning and places the student in a self learn situation that many managers find themselves in business. It encourages innovation by supplying a course manual and daily PowerPoint presentations and course notes that the students must use to learn, understand and use research techniques solely and in groups. The students must arrange groups and work within them to produce an international marketing plan and presentation for the end of the course.
The Marketing Plan
A marketing plan defines the trading position a company wishes to accomplish at some time in the future and how to get there. The reasons for doing so are many:
· It provokes managers and owners into analysing what is happening, what should be happening
· encourages better management by setting targets, co-ordination, control, measurement, evaluation
· helps staff to embrace change and informs new staff members
· encourages staff to know that the efforts of the company are integrated
· well thought out plans produce confidence in banks and investors
· promotes analysis of the risks and return on investments
· provides a checklist and framework for resource utilisation - physical, human, financial
The contents of a marketing plan should be a summary of the total environment facing the company, and the company’s strengths and weaknesses, opportunities and threats.
Marketing objectives:
a) short-term - up to one year b) medium-term - one to three years c) long-term - three to five years
Proposed strategies and justification for the strategy selection in relation to the SWOT analysis.
Tactical decisions covering:
pricing policy (prices, terms of sale, discounting, profit margin required etc.)
product decisions (design, packaging, range, branding etc.)
distribution decisions (distributors to be used, territories to be covered, expected market penetration)
physical distribution (warehousing, invoicing, transportation, stock handling, stock control, etc. )
promotion decisions (the communications mix)
innovation (new product development, commercialisation of new brands, test marketing etc.)
salesforce decisions (selection, size, structure, targets, payment, training)
budgets available to action any of the above tactics
Organisational integration via the marketing concept (all other departments covering the other business functions - production, finance, personnel, research and development, etc.)
Assessment
Case analyses, student participation and student presentation of analysis and model design
M€M13 – Global Business Communication
Course Objectives: As today’s organisational environment represents an information technology impacted workplace. In connection with this environment and in an international context, the course discusses (1) how information technology (IT) enables organisations to conduct international business in radically different and effective ways, and (2) how IT can play important roles in creating international business strategies. Lectures, text readings and cases will illustrate how technology can be used to both gain and sustain a competitive advantage. The course also covers critical issues in technology and information resource management, and the choices of information technology infrastructure. The following course objectives arise:
Teaching Methodology:
The instructor will use lecture, cases and discussions. The last afternoon, students will be required to submit an individual exam.
Final Exam: The final exam will be an individual case study.
Policy Revision: The instructor reserves the right to make changes to the syllabus or above stated procedures. If changes are made, the students will be informed of them.
M€M14 - How the European Union Works
Objectives
· To provide students with an understanding of how the EU works so that they can do business in the European Union.
Description
Part 1 - Institutional Aspects and a People’s Europe
Part 1 of the course looks in detail at the development of the European Union featuring :
The construction of the EU
The Treaties of Rome, Single European Act, Treaties of Maastricht, Amsterdam and Nice
The institutional structure
The Commission, the Council, the Parliament, Court of Justice, Court of Auditors, Economic and Social Committee, Committee of the Regions and the other bodies of the EU
The decision-making process
Principles of Community law
The acquis communautaire
Agenda 2000, institutional reform, enlargement and the candidate countries
Continuing reform process leading to the next intergovernmental conference.
The focus of the teaching will be on understanding why and how the EU has developed the way it has. By way of illustration, EU environment policy is examined in depth:
the conception of the policy;
the changing emphasis resulting from the development of the global environmental agenda;
the arrival of greener states (Finland, Sweden and Austria) and the EU's response;
the actions of the Commission in delivering the policy;
the debate with the US over climate change, etc.
In addition Part I takes a detailed look at two of the states that have applied for EU membership. This is done by examining in detail the impact of membership on certain areas of policy which are sensitive for Malta, and then by reviewing the positions of the European Union and Poland concerning the progress of Polish accession since 1996.
A People’s Europe is covered by students working on assessment papers in groups and presenting their research to the rest of the class. These presentations will look in detail at various areas of the EU’s body of law:
Employment and social policy
Common Agriculture Policy
Competition policy
Regional policy
Single European market
EU development and trade relations with the rest of the world
How EU affects people’s daily lives
Justice and home affairs
Part 2 – Europe in the real world
Part 2 of the course looks at how the EU impacts on a wide range of issues world wide. This will mostly be done through students’ presentations of papers within the second assessment – see below.
Assessment
First Assessment - A People’s Europe
15-20 page research paper. Students work in groups to analyze one of the themes listed above (60%). The paper should cover:
What is the policy? – descriptive
Does it work? – criticism, analysis
Where do we go from here? – prediction of future development
Students will also make an oral presentation (20 minutes per group) of their report in front of the whole class, and to write an executive summary of the paper (40%).
Second Assessment - Research Paper
15-20 page research paper. Students work individually on one of a choice of 40 subjects. They should analyse one of the following themes:
· The institutional challenges of enlargement· The Council of Europe in the 21st century · The military aspects of the EU· The EU’s Common Foreign and Security policy and Turkey· Europe’s role in developing peace and stability· The future of the European Parliament· Enlargement and migration· What future for the Balkans?· Fundamentalism· Euro-Mediterranean Partnership· The Black Sea Economic Cooperation· Europe in 2030· The US relationship with Europe following the second Iraq war· Transatlantic Economic Partnership· The banana dispute with the US | · Genetically Modified Organisms· The Euro as a global currency· EU and financial markets· Europe and foreign direct investment· Can Europe live up to its commitments to the environment? · EU’s transport policy· EU policy on public health· E-Europe · EU’s cultural policy· Competition policy and the financial services sector· EU’s role in promoting women’s rights· European view of democracy and human rights· United States of Europe? |
Alternatively they may carry out an analysis of one of the following chapters of the acquis communautaire, in particular its impact on Northern Cyprus or Turkey:
· Free movement of persons · Free movement of capital · Company law · Taxation · Economic and Monetary Union · Social policy and employment · Energy | · Industry · Science and research · Telecommunications and IT · Customs union · External relations · Finance & budget
|
Bibliography
Detailed course notes How the European Union works are provided to all students.
Nicoll, Sir William & Salmon, Trevor C.(2001). Understanding the European Union, Pearson Education (ISBN 0-13-020838-8) pub 2001.
M€M15 – European Regional Policy
Objectives
This course provides students with an overview of European Integration and provides students with an overview of European Regional Policy and Social Cohesion desired.
Description
The course examines EU regional and cohesion policies (primarily Structural and Cohesion Funds) and the impact of other policies which significantly reduce the likelihood of regional and cohesion objectives being achieved: so-called “counter-cohesion” policies. The course traces the development of regional and cohesion policies, which are relatively recent additions to EU activity, and examines their goals and targets, and relationships with other policies, for example CAP. Traditionally, regional and cohesion policies have been viewed from the perspective of wealth redistribution: a form of “Euro welfare state.” The course will challenge some traditional thinking about regional and cohesion policies: its redistributive elements have been sacrificed to competitiveness defined in neo-liberal terms; globalization has led to the privileging of regional autonomy over cohesion. The course focuses on the key problems, issues and conflicts in relation to EU regional and cohesion policies, and looks at some post-enlargement scenarios, including the potential impact (opportunities, prospects and problems) in Turkey and Cyprus. Assessment
The Instructor’s assessment will be based on and/or:
The instructor will give the students full details on the assessment procedure and assessment topic weight in the overall grade at the beginning of the course.
Bibliography
Essential reading
The Regional and Structural Policies of the European Union, Ian Bache (Continuum International Publishing Group - Sheffield Academic; ISBN: 1850758638)
Additional reading
Chapters 6 and 7 of "The European Union: A Political Sociology", Chris Rumford, (Blackwell Publishers; ISBN: 0631226184).
M€M16 - E-Business and B2B Marketing
Objective
This seminar is designed to sensitive you to the growing importance of this field; i.e. business marketing. (More than half of all business school graduates enter firms that compete in business markets). The second purpose of the course is to provide you a vehicle for examining the special features of high-technology markets and for « isolating the unique challenges that confront the marketing strategist in this arena ». (Matt/Speh) Electronic commerce, supply chain and logistics fall squarely in this domain. We will highlight the similarities and differences bet ween B2C and B2B marketing.
Grades
Short “Topic Presentation” 10 points 10 minutes max.
Website Analysis 20 points tba
Team Presentations 20 points Eagle Pump / Cantro Corporation
Written Exam 25 points based on PowerPoint and Wind Technology
Individual Paper 25 points (to be emailed to me at billevans2005@yahoo.com within 3 weeks)
Lectures and discussion
Business Marketing Management, Matt/Speh 8th ed, 2004; Powerpoint slides
E Commerce PowerPoint slides
General Reading Handout
Pfizer Case
RJM Case
Video Fim Matt/Speh
www.marketingorg.com
Exam
Powerpoint slides & Wind Technology
Team Presentation
Eagle Pump
Cantro Corporation
Before Course begins Students will receive& are expected to read:
M€M17 – International Corporate Policy
Course Overview
This course is designed to provide you an overview of concerns and issues that typically arise in the context of cross-border acquisitions and divestitures made by Corporate/Strategic Buyers.[1] Though the focus will be on “Corporate Buyers” (i.e., Strategic Buyers), reference and comparisons will be made to strategies and obstacles encountered by “Financial Buyers” (i.e., Private Equity Funds, Venture Capital Firms, Mezzanine Funds, and more recently Hedge Funds). Similarly, though the focus of this course will be on Buyer strategies into and within the United States, many of the principles and doctrines apply in other areas of the world, and reference and comparison will be made to major distinctions in those jurisdictions, as time allows.
Teaching Method
I expect each person in the room to participate in the discussions and to interact in a dialog of learning. Why? Well, because your exam is based in part on your class interaction, but more importantly because we each have unique experiences that directly or indirectly affect our managerial thinking skills. I.e., as future executives, our decisions will be shaped by our experiences, learnings and mistakes. Similarly, this is your class – make the most of it. I want to relate to you our experiences and challenges, and welcome your insights and observations.
Outline
The course outline is as follows. Though all efforts will be made to provide equal weight to each section below, I have often found that classes tend to focus on certain areas, and as such I will allow for such “focus” as needed to quench our intellectual appetite.
1. Introduction
2. Team Building Exercise / Case Study Discussion
3. Management – Setting the Stage for an Acquisition
4. Pre-Acquisition Legal Considerations
5. Pre-Acquisition Review of Data – Financial and Operating
6. Ins and Outs of Negotiating the Acquisition Agreement
7. Tax – Considerations and Pitfalls in Structuring the Acquisition
8. Issues in Executive Compensation and Employee Benefits
9. Acquiring a Subsidiary or Division – What are some special concerns?
10. Navigating Intellectual Property Issues in Acquisitions
11. Using Stock as Acquisition Consideration
12. Navigating Through Corporate Distress Sale Transactions
13. Antitrust Issues
14. Negotiating The Acquisition – Does and Don’ts
15. Summary and Final Exam
Required Readings
Prior to the first day of class, please be prepared to discuss the articles listed below (they will be provided to you). We are not asking that you memorize details in the
articles, but simply that you read through the articles and be prepared to provide your thoughts and feedback to the articles as they relate to the material that will be taught
in class. Similarly, it is in your own interest to read the articles as the exam MAY contain references to problems and issues mentioned in the articles.
Article 1 –Europe: The Mid-Market’s Next Destination? Maybe Not, Buyout$, March 14, 2005, at 32.
Article 2 – Corporate Venture Capital: Chapter 2, Corporate Dealmaker, March-April 2005, at 22.
Article 3 – InBev’s Odyssey, Corporate Dealmaker, March-April 2005, at 16.
Article 4 – The Strategic Buyer Come Back: Corporate Dealmakers Discuss Business Goals and M&A Strategies¸ Buyout$, February 28, 2005, at 46.
Attendance
Due to the short term of this course, we ask that you attend all class sessions unless you receive authorization in advance to be absent.
Final Exam / Final Grade
Your final grade will consist of 25% for class participation and interaction, and 75% from the final exam itself. The final grade will consist of a series of essay questions directing you to read the fact pattern in the essay, and provide your proposal for solving the specific problem or issue at hand. Please note that there is no “right answer” for the exam essay questions. Be creative and in your proposed solution or analysis, incorporating your own experiences with the teaching provided in this course. Further information on the exam logistics and layout will be provided in the classroom.
Contact Information
Please feel free to contact Prof. Joyce if you have any questions either before or after the course.
Theodore J. Joyce
c/o PricewaterhouseCoopers, LLP
125 High Street
Boston, Massachusetts 02110
Email: Theodore.j.joyce@us.pwc.com
Work Tel: 1-617-530-5673
M€M18 – Product, Innovation and development
The course will inform and encourage focused but open product understanding and encourage innovation. It will develop in its students the ability to determine the special problems associated with business growth in today’s global market place. The course is designed to encourage students to apply a distinct and focused problem solving approach to product development, focusing strongly on the specific needs of pricing strategies and values. It will encourage within them a knowledge and understanding of the inter-dependence of functional disciplines in the well running of the business.
The students will innovate and design new products
What Is A Product?
The Value Package
Classifying Goods And Services
i. Classifying Consumer Products
ii. Classifying Industrial Products
The Product Mix
i. Product Lines
Developing New Products
The New Product Development Process
i. Product Mortality Rates
ii. Speed To Market
The Seven-Step Development Process
i. Variations In The Process For Services
The Product Life Cycle
i. Stages In The Product Life Cycle
ii. Extending Product Life: An Alternative To New Products
Identifying Products
Branding Products
i. Brand Equity
ii. E-Business Branding
Types Of Brand Names
Packaging Products
Labelling Products
Pricing Strategies And Tactics
Pricing Strategies
Pricing Existing Products
i. Pricing New Products
ii. Fixed versus Dynamic Pricing for E-Business
Pricing Tactics
i. Price Lining
ii. Psychological Pricing
iii. Discounting
Determining Prices
Pricing To Meet Business Objectives
i. Profit-Maximizing Objectives
ii. E-Business Objectives
iii. Market Share Objectives
iv. Other Pricing Objectives
Price-Setting Tools
i. Cost-Oriented Pricing
ii. Breakeven Analysis: Cost-Volume-Profit Relationships
5 - Assessment
To pass the course the student will need to Pass a group work product development presentation Pass an examination showing that they have understood the course.
M€M25 – Masters Thesis
Objectives
To develop the student’s understanding of business and their ability to carry out research.
Description
Students will undertaken an individual research project which may be chosen or proposed on topics related to issues raised in lectures. The Research Project will be conducted under the guidance of the appropriate member of the Faculty who will be available throughout the course for consultation by e-mail.
M€M Research Plan
· The scope of the Project
· The justification of the study
· Defining the issues and questions to be answered.
· Constructing a framework for analysing the issues.
· Carrying out a detailed study on the legislation involved and comparison with the existing comparable legislation.
· Analysing the necessary changes to the legislation.
· Studying the effects of the changes on the sector.
· Identifying further work that will be needed.
Assessment
Assessment will be on the basis of a comprehensive Research Papers (20,000 words; +/- 60 pages).
The Individual Research Paper will be presented before a jury in June.
Appendix 1 – ECTS Grading System
ECTS Grade | Percentage of successful students normally achieving the grade | Definition |
A | 10 | EXCELLENT: Outstanding performance with only minor errors |
B | 25 | VERY GOOD: Above the average standard but with some errors |
C | 30 | GOOD: Generally sound work with a number of notable errors |
D | 25 | SATISFACTORY: Fair but with significant shortcomings |
E | 10 | SUFFICIENT: Performance meets the minimum criteria |
FX | -- | FAIL: Some more work required before the credit can be awarded |
F |