MAR023-6 Thriving in a Competitive Global Context Unit Handbook © University of Bedfordshire 2016-17 MAR023-6 Thriving in a Competitive Global Context Introduction Today’s global business environment is characterised by increasing interdependencies, evolving trends in technology and emergence of new economic or trading blocs, all of which are posing severe challenges to the knowledge and skills of international managers and operators. Such challenges require careful analysis, integrative action and appropriate monitoring. It is the aim of this Unit to provide you with the required concepts, knowledge and skills to meet the challenges. The Unit will draw on the knowledge and skills gained in the other MBA Units to develop an understanding of advanced strategic business techniques within a global business environment. Aims and Objectives This Unit enables you to: • Develop and demonstrate expertise in understanding the global business environment within which the modern organisation operates. • Apply a range of skills in developing business strategies for different environments. • Critically assess and synthesise a range of international business theories and principles in scenarios dealing with both global business situations in non-domestic markets and the impact of international competitors on the domestic market. • Identify and critically evaluate the major dimensions of the environment which affect business strategies in global context. • Identify, categorise, and assess the factors determining the extent to which standardisation in strategy and implementation is appropriate for success Learning Outcomes Core learning outcomes On completion of this unit you should be able to: Assessment number 1 Demonstrate a critical understanding of the changing nature of the global business environment, buyer behaviour in a global context and the factors which influence the implementation of an organisation’s competitive business strategy in a global context. 1 2 2 Demonstrate expertise in collecting and analysing appropriate information, applying a range of strategic business and financial tools and techniques available, to plan and evaluate global business and e-business operations. 1 2   Threshold standards Assessment number In order to pass the assessment you will need to: 1 Undertake an analysis identifying 3 factors that are relevant to issues highlighted in the Test question(s), and propose a clear solution. 2 a) Identify and assess the current strengths and weaknesses of the international organisation(s) relative to its global environment, and b) Propose a strategy / plan to enhance its global competitiveness. Assessment Methods There are two assessments: • The first assessment is a one hour in-class Test taking place in Week 9, and accounts for 30% of the overall grade for the Unit. The Test will be based either on a short case study or a scenario / question(s) related to topics covered during the earlier part of the semester. The particular focus will be on assessing your analysis and evaluation of the competitive global business environment. • In preparation for the Test you will benefit from the following: a) An Assessment Brief outlining the nature of the Test, requirements, and marking criteria, and will be posted on Breo in Week 1 of the semester; b) a podcast by the Unit Coordinator discussing sample questions, key theoretical frameworks, and other issues relevant for the Test and posted on Breo in Week 4; and c) a Discussion Board will be made available in Week 5 which serves as a forum for raising any questions you may have about the Test. The potential case studies on which the Test questions are to be based will be discussed in class up to the time of the Test, the tutor providing formative feedback. • The second assessment (Assignment 2) is a 3500 word essay; and accounts for 70% of the overall grade for the Unit. It involves researching the dynamic developments in the global business scene and the impact of these on competitiveness and strategy of the international organisation. In this, your abilities to critically analyse a wide range of literature and information, synthesise concepts and arguments, and evaluate alternative plans of action and their implications will be assessed. To the extent possible the assignment is designed in a way that the research is based on or related to the organisation (and the industry) you work for; and therefore it is hoped that this exercise will enhance your personal and professional advancement within the organisation (and the industry). • In preparation for the Essay you will benefit from the following: a) an Assignment Brief outlining the nature of the particular topic for this assessment, including the tasks or questions, a guideline for writing the Essay specifying the requirements, the marking criteria, and the marking grid, and this will be posted on Breo in Week 1; b) a podcast by the Unit Coordinator explaining the assignment task in detail and reminding the requirements, and other issues relevant for the Essay topic, and posted on Breo in Week 8; and c) a Discussion Board will be made available on Breo in Week 9, which serves as a forum for raising any questions you may have about the Assignment. Assessment Summary No Assessment Method Code Weight % Submission week Submission method Length of exam Outcomes being developed and assessed 1 Ex-PT 30 9 1 hr Contextual understanding Analysis Evaluation 2 CW-Ess 70 13 e Critical Analysis Synthesis Evaluation For all assessments in this Unit students must: For an 'A' grade (70% and above) • Demonstrate a thorough understanding of the purpose of the exercise • Display knowledge of all the principles and theories involved and an ability to apply them effectively • Provide evidence of wider reading, including academic journals • Demonstrate an ability to select critical points, evaluate them and communicate the conclusions effectively For a 'B' grade (60-69%) • Show a clear understanding of the exercise • Display knowledge of most of the principles and theories involved and an ability to apply them effectively • Provide evidence of wider reading • Demonstrate an ability to select critical points and evaluate them and draw sound conclusions For a 'C' grade (50-59%) • Show an adequate understanding of the exercise • Display knowledge of some of the principles and theories involved and an ability to apply them • Provide evidence of some wider reading • Demonstrate an ability to select key points and provide analyses of these For a 'D' grade (40-49%) • Show some understanding of the exercise • Display knowledge of some of the theories and principles involved and an ability to apply them • Provide evidence of some wider reading • Demonstrate the ability to select key points and provide analyses of these For an 'E' grade (35-39%) • Made an attempt to complete the exercise • Display little knowledge of the principles and theories involved • Limited evidence of academic reading • An inability to recognise the key points   For an F1/F2 grade (1-34%) • Work of little academic merit For a 'G' grade (0%) • Work of no academic merit • No attempt Approach to Learning Teaching in this Unit will take the form of interactive lecture based upon relevant case studies, topical issues and selected topics. Lectures will provide the linkage between theory and practice by covering a range of international business situations. This will encourage students to understand concepts and techniques through analysis, reasoning and practical application. The learning strategy in this Unit will be skill-based practical deduction of key concepts and techniques through the use of case studies, research, group presentations and discussions on current organisational / business problems in a global context. In keeping with the intellectual demands of a post-graduate course this Unit will require you to read thoroughly and extensively; think critically; apply concepts; contribute to proceedings fully, both orally and in writing. This learning process is supported by a set of online provisions via Breo (the customized Virtual Learning Environments) that enhances the student’s independent learning. Among other things this provides access to the University’s digital library, interactive learning tools including collaborative workings softwares in text, audio, and video formats; effective communications such as assignment feedback, administrative issues, etc., and background materials for lectures / seminars, etc. The Unit adopts a practical approach to facilitate transfer of learning to the context of your workplace and continuous reflection on learning based on progressive personal and professional development. In this way the Unit is very successful in addressing the five dimensions of realistic learning: i Meaningful – of direct practical relevance to enhancing creativity and innovation in your organisation ii Active – learning is student-centred and you will be actively involved in the process of learning at all times iii Reflective – you will need to continuously reflect on an in practice at all times iv Challenges knowledge and understanding of how creativity and innovation might best be achieved in practice and potentially challenges aspects of organisational culture and climate v Collaborative – through online learning, workshops and group support as well as from tutors The topics covered and learning resources used in this Unit will be challenging and relevant to the manufacturing, service, public and not for profit sectors. Students will be encouraged to share their work experiences to enhance all students’ learning experience. Skills Development Communication To help with the development of this you will: Monitor progress and adapt your strategies, as necessary to achieve the quality of outcomes in work involving: Series of oral and written reports about complex subjects One extended written communication about a complex subject. Information Literacy To help with the development of this you will: Develop a strategy for using application of IT skills over an extended period of time. Research and Evaluation To help with the development of this you will: Monitor progress and adapt your strategy, as necessary, to achieve the quality of outcomes required in work involving the use of data collection, analyses and reporting for complex purposes Creativity and Critical Thinking To help with the development of this you will:- Demonstrate balanced analysis and argument, linking theory to practice Evaluate alternative solutions in solving problems, and Demonstrate elements of originality in solving problems Key Topics to be covered Syllabus Content Theme I: Understanding the global business environment • What is globalisation? Understanding the International Trading Environment • Global governance (Government interventions, Economic integration efforts) • Understanding The TRIAD, Emerging economies, and LDCs • International business research & opportunity analysis Theme II: Global strategy and operations shaping competitiveness • Competitiveness & developing competitive advantages • International business entry modes (export management, collaborative modes, and FDI) • Global marketing strategy and the impact of digital technology (Global dimensions of product, pricing, communication, and logistics) • Global sourcing, off-shoring, and International financial operations (Capital structure, raising funds for the firm’s international operations, managing currency risk, etc.). • Ethics in international business (International corporate responsibility) • Global strategy and organisation Recommended Resources Core text – This unit is supported by the following core text: Cavusgil S.; Knight, G.; and Riesenberger, J. (2014). International Business: the New Realities, (Global Edition). 3nd. Edition. Pearson Guided reading – the following is expected reading for this unit. Details of what to read and when will be provide in the BREO site. Albaum, G, Duerr, E, & Josiassen, A (2016). International Marketing & Export Management (8th. ed.). Harlow: Pearson Education Ltd. Hollensen, S (2017). Global Marketing (7th. ed.). Harlow: Pearson Education Ltd. Porter, M & Heppelmann, J (2014). Spotlight on managing the internet of things: How smart, connected products are transforming competition, Harvard Business Review, November, 2014. Kumar, V.; Mudambi, R.; and Gray, S. (2013) Internationalisation, Innovation and Institutions: the 3 I’s underpinning the Competitiveness of Emerging Market firms, Journal of International Management, (19)3:203-206. Independent study - to receive high grades you will need to demonstrate your wider reading. The following resources provide useful background reading for the material in this unit. Seyoum, B. (2008), Export-Import Theory, Practice, and Procedures (2nd. Ed.). Harlow: Routledge Porter, M.E. (1990), The Competitive Advantage of Nations, Free Press, New York. Xu, Jun & Mohammed Quaddus (2009), E-Business in the 21st. century, Abingdon: World Scientific Publishing (UK) Ltd. Jullens, John (2013) How Emerging Giants can take on the world, Harvard Business Review, (91)12:121-125 Capelli, P.; Singh, J.; & Useem, M. (2010). The Indian Way: How India’s top business leaders are revolutionizing management. Boston: Harvard Business Press. . Recommended journals Journal of International Business Studies Journal of Global Business International Business Review Journal of East West Business Journal of African Business European Business Journal Journal of World Business Journal of Transnational Corporations Harvard Business Review Samples of Other Periodicals The Economist, Time, Fortune, The Economist Intelligence Unit Business Week, etc. Newspapers, magazines, business publications in Oman, and other publications of regional and international scope are useful sources. Selected Online Resources Financial Times http://www.ft.com/ http://www.globalissues.org/TradeRelated Organization for Economic Cooperation and Development (OECD) http://www.oecd.org/ The International Monetary Fund (The IMF publishes useful materials, e.g. World Economic Outlook; Global Financial Stability Report, etc.) http://www.imf.org/ The World Bank (The World Bank publishes numerous documents such as World Development Indicators, etc.) http://web.worldbank.org/ Time Magazine http://www.time.com/ UNCTAD (United Nations Centre for Trade and Development publish such documents as World investment report, etc. ’’ UNDP (United Nations Development Programme publishes useful report, e.g., Annual Reports. Annual Report for 2007, 'Making Globalization Work for All') World Business Council for Sustainable Development WBCSD http://www.wbcsd.org/ World Resources Institute http://www.wri.org World Trade Organization, publishes various useful reports and documents, e.g., its annual 'International Trade Statistics'. http://www.wto.org/ www.fairtrade.org.uk