1 MBS661 Global Business in the Asian Century Unit Information and Learning Guide TMA, 2017 This information should be read in conjunction with the online learning materials which can be found on your MyUnits page. Professor Xiaowen Tian Murdoch School of Business and Governance Tel: +618 93606599 Email: [email protected] 2 © Published by Murdoch University, Perth, Western Australia, 2017. This publication is copyright. Except as permitted by the Copyright Act no part of it may in any form or by any electronic, mechanical, photocopying, recording or any other means be reproduced, stored in a retrieval system or be broadcast or transmitted without the prior written permission of the publisher. This unit was originally written by Professor Xiaowen Tian, 10 March 2017 3 CONTENTS Unit Information Information about the Unit 3-5 Contact details 6 How to study this Unit 7 Resources for the Unit 8-9 Study schedule 10-19 Assessment 20-25 Learning Guide MODULE 1 Week/Session 1 Week/Session 2 Week/Session 3 MODULE 2 Week/Session 4 Week/Session 5 Week/Session 6 MODULE 3 Week/Session 7 Week/Session 8 Week/Session 9 COACHING Week/Session 10 Week/Session 11 Week/Session 12 EXAM Week/Session 13 Week/Session 14 GLOBAL BUSINESS ENVIRONMENT 26 Seminar1: Globalization and the Rise of Asia 27 Seminar2: Country Difference and the Myth of Asia 28 Seminar3: Cross-country Linkage and Regional Integration in the Asia Pacific 29 GLOBAL STRATEGIC THINKING AND MARKET ENTRY 30 Seminar4: Global Strategic Thinking 31 Seminar5: Market Entry and Strategic Alliances 32 Coaching1: International Business Plan Proposal 33 FUNCTIONAL MANAGEMENT AND IMPLEMENTATION 34 Seminar6: Global Marketing and R&D 35 Seminar7: Global Production and Logistics 36 Seminar8: Global Human Resource Management 37 INTERNATIONAL BUSINESS PLAN REPORT 38 Coaching2: International Business Plan Report 39 Coaching3: International Business Plan Report 40 Coaching4: International Business Plan Report 41 Study Break 42 Exam Week 42 4 UNIT INFORMATION Information about the Unit Welcome to MBS661 Global Business in the Asian Century Unit description This Unit addresses key issues about managing a global business in the 21st century – often called the Asian century. It examines accelerated globalization and the rise of Asia, and discusses how managers make decisions on firm strategy, market entry, alliances, marketing, R&D, production, supply chain management, and human resource management in the context of the changing global business environment. The unit places you in the role of decision makers, aiming to develop your ability to innovatively apply theories to resolving problems in challenging international business situations. Prerequisites There are no prerequisites to undertaking this Unit Aims of the Unit The broad aims of this Unit are to 1. Provide students with a sound knowledge about the changing global business environment in the Asian century; 2. Equip students with practical frameworks by which major business issues can be analysed in complex international contexts; 3. Provide students with opportunities to apply learnt knowledge and skills to analysing problems executives face in managing a global business in the Asia Pacific and beyond. 5 Learning outcomes Graduate attributes This unit will contribute to the development of the following Graduate attributes 1. Critical and creative thinking- Graduates have developed the ability and skills to acquire knowledge in their discipline and critically evaluate, integrate and apply the knowledge. 2. Communication - Graduates have developed the ability and skills to effectively communicate with people from different cultural backgrounds. 3. Global Perspective – Graduates have developed the ability and skills to address business issues from a global perspective, and relate the issues to developments in the Asia-Pacific region. 4. Ethics - Graduates are aware of ethical standards and able to develop strategies to innovatively address ethical issues in their discipline. What you need to know Generic information which students need to know is available at What you need to know web page: http://our.murdoch.edu.au/Educational-technologies/What-you-need-to-know/.The information includes  Links to the Assessment Policy  A description of Academic Integrity  Links to information about examination; Non-discriminatory language; Student Appeal; Student complaints; Conscientious objection and assessment policy  Determination of grades from components/marks  Information for equity student Unit Learning Outcomes On successful completion of the Unit you should be able to: Linkage to Course (MBA) Learning Outcomes ULO.1. Identify, describe, and evaluate changes in the global business environment in the Asian century, and the impact of the changes on business operations [K] 1 ULO.2. Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond [S-A] 2,12 ULO.3. Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations [S-A] 2, 5 ULO.4. Generate new ideas for decision-making that benefits both the company and the society in an international context [K] 4; [S-A] 3 6 Contact details Unit coordinator Professor Xiaowen Tian - Bio Note: After obtaining my PhD from the Australian National University, I worked and taught at National University of Singapore, University of Nottingham (UK), and Bond University. I am currently Professor of Management at Murdoch University. My teaching and research interests are in the area of Global Business Management with a focus on Asia. I have published articles in such journals as Journal of International Business Studies, Journal of World Business, and Organizational Dynamics in addition to four books. My book, titled “Managing International Business in China”, was published by Cambridge University Press, and will be used as an additional reading for this unit. Email: [email protected] Contact: Please direct all questions for the Unit coordinator through your local teaching Affiliate Administrative contact details School of Business and Governance Email: [email protected] Phone: +61 8 9360 6861 7 How to study the unit Learning approach The approach to learning in the Unit is integrative and interactive. The structured in- class activities will be offered through teaching sessions consisting of lecture, case study, workshop, presentation, and video. The self-directed learning tasks will involve reading, group discussion, and a major International Business Plan Competition project. Contact time This is a 6 credit point Unit. There are eight sessions with 32 face-to-face teaching hours in total. In addition, there are four sessions with 16 face-to-face coaching hours in total. In the coaching sessions, students are required to meet with the local instructor to discuss their international business plan in teams. Time commitment For a 6 credit point Unit, it is expected that you spend in total 300 hours over the full teaching period of the Unit. Attendance All students will be required to attend classes and to prepare for each class. This will require reading of the specific chapters in the text and other materials, analysis of case studies, and preparation for presentation. Students will be encouraged to develop and express their own ideas and to articulate an original and independent view of problems and cases. Unavoidable class absences should be discussed with the local instructor in advance. Small group and interactive teaching and learning activities There are some small group and interactive teaching and learning activities in the Unit, including team-based project and case study discussion. Unit changes in response to student feedback Students are encouraged to provide feedback to the instructor on any aspect of the course with a view to enabling the instructor to improve the provision of the learning 8 Resources for the unit Essential textbook Hill, Charles W. et al. 2016. International Business: Asia Global Edition McGraw-Hill. (2nd edition). ISBN- 9781259011818. Other readings BCG. 2012. Imagining Australia in the Asia century. http://ict-industry- reports.com.au/wp-content/uploads/sites/4/2013/05/2012-Imagining-Australia-in- the-Asian-Century-BCG-Sept-2012.pdf Buckley, P.J. 2011. International integration and coordination in the global factory. Management International Review, 51: 269-283. http://link.springer.com/article/10.1007%2Fs11575-011-0075-2#page-1 Ghemawat, P. 2007. Managing differences: the central challenge of global strategy. Harvard Business Review, March: 1-43. http://www.gwu.edu/~clai/training_programs/UChile_MBA_Programs/uchile mba2010/Robles_Readings/Managing_Differences.pdf Hofstede, G. 2007. Asian management in the 21st century. Asia Pacific Journal of Management, 24: 411-420. http://link.springer.com/article/10.1007%2Fs10490-007-9049-0 Khanna, T., Palepu, K.G., & Sinha, J. 2005. Strategy that fits emerging markets. Harvard Business Review, June: 63-76. http://www.unifr.ch/intman/assets/files/Teaching/Emerging%20Markets/Litera ture/May_2_Compulsory_Literature_5.pdf Mathews, J. 2006. Dragon multinationals: new players in 21st century globalisation. Asia-Pacific Journal of Management, 23 (1): 5-27. http://link.springer.com/article/10.1007%2Fs10490-006-6113-0#page-1 Morrison, W.M. 2013. China's Currency Policy: An Analysis of the Economic Issues. CRS Report for Congress, RS21625: 1-49. https://www.fas.org/sgp/crs/row/RS21625.pdf Porter, M & Kramer, M. 2011. Creating shared value. Harvard Business Review, Jan 4-17. Santos, J.F.P. & Williamson, P.J. 2015. The new mission for multinationals. MIT Sloan Management Review, 56 (4): 45-54. http://0- search.proquest.com.prospero.murdoch.edu.au/docview/1694712965?pq- origsite=summon&accountid=12629&selectids=10000039,1006985,10000155 Tian, X.W. 2016. Managing international business in China. 2nd edition. Cambridge University Press. Particularly, chapters 3-12. Tian, X.W. & Slocum, J. 2016. Managing corporate social responsibility in China. Organizational Dynamics, 45: 39-46. 9 http://ac.els-cdn.com.libproxy.murdoch.edu.au/S0090261615000807/1-s2.0- S0090261615000807-main.pdf?_tid=dda103a8-d0c1-11e6-bb37- 00000aacb362&acdnat=1483344354_ea24e59c04431a9784c8261954de0faf Additional readings and case studies may be provided during the teaching period. All lecture powerpoint slides will be posted on to the Unit page at LMS before class. On-line resources Students are required to looking for current international business news/events via a variety of on-line sources, including Financial Times: http://www.ft.com/home/asia Australian Financial Review: http://www.afr.com/ Forbes: http://www.forbes.com/ GlobeEDGE: http://globaledge.msu.edu/ Tool kit Reading of academic texts: http://our.murdoch.edu.au/Student- life/_document/Student-Learning/Tip-Sheets/Improve-your-reading.pdf Planning your essay: http://our.murdoch.edu.au/Student-life/_document/Student- Learning/Tip-Sheets/planning_your_essay.pdf Drafting your essay: http://our.murdoch.edu.au/Student-life/_document/Student- Learning/Tip-Sheets/Drafting-an-essay Resources for referencing your work: http://our.murdoch.edu.au/Student- life/Study-successfully/Online-and-Print-Resources/referencing APA Style: http://www.apastyle.org/manual/index.aspx The following will be provided during the teaching period: Lecture podcasts Online videos Online Quiz 10 Study Schedule MODUEL 1. GLOBAL BUSINESS ENVIRONMENT Week/Session Desired Learning Outcomes and objectives Reading, Content & Activity Assessment 1 SEMINAR 1:  Introduction  Globalization and the Rise of Asia Learning outcome: 1 Learning objectives: When students have actively engaged they will be able to:  Identify, describe, and evaluate changes in the global business environment in the Asian century  Assess the impact of these changes on business operations  Understand the importance of a global view to business success in the Asian century. BEFORE SEMINAR  Textbook: Hill, Ch 1 or Hill et al, Ch 1.  Online reading: UILG; Mathews, 2006; BCG 2012; Santos & Williamson, 2015;  Online lecture podcast and Quiz  Online video: 1. Globalization (8 minutes): http://www.youtube.com/watch?v=3oTLyPPrZE4 2. Stigliz (44 minutes): https://www.youtube.com/watch?v=sV7bRLtDr3E DURING SEMINAR (face-to-face)  The seminar introduces the UILG, and discusses changes in the global business environment characterised by accelerated globalization and the rise of emerging markets in Asia.  Case study workshop: IKEA- The Global Retailer (Hill et al, p.33), etc. AFTER SEMINAR  Reflecting on the key concepts, such as Globalization of market; Globalization of production; and Emerging markets  Reflecting on the questions as indicated in the Module Description of the topic (p.23).  Working in teams on the International Business Plan through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Working independently on an essay to be posted to the online discussion forum Discussion Forum 11 2 SEMINAR 2: Country Difference and the Myth of Asia Learning outcomes: 1 & 2 Learning objectives: When students have actively engaged they will be able to:  Identify, describe, and evaluate country differences in political economy and culture  Analyse the causes of cross- country difference in economic progress  Acquire skills to critically integrate theories and concepts, and apply them to analysis of rise of Asia BEFORE SEMINAR  Textbook: Hill, Ch 2, 3 & 4 or Hill et al, Ch, 2 & 3  Online reading: Hofstede 2007; Tian, Ch 3 & 7  Online lecture podcast and Quiz  Online video: 1. Rise of Asia (58 minutes): https://www.youtube.com/watch?v=wc4eMtAqcvo DURING SEMINAR (face-to-face)  The seminar focuses on differences in political system, economic system, legal system, and culture between nations, particularly between Asian nations and other parts of the world.  Case study workshop: Indonesia – After Suharto and the Asian Crisis (Hill et al, p.72), etc. AFTER SEMINAR  Reflecting on the key concepts, such as Political economy; Culture; Hofstede; and Variety of Capitalism  Reflecting on on the questions as indicated in the Module Description of the topic (p.23).  Working in teams on the International Business Plan through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Working independently on an essay to be posted to the online discussion forum Discussion Forum 12 3 SEMINAR 3: Cross-country Linkage and Regional Integration in the Asia Pacific Learning outcomes: 1 & 2 Learning objectives: when students have actively engaged they will be able to:  Evaluate why countries are linked by trade and investment , and why governments tend to intervene in international trade and investment  Identify, describe, and evaluate functions of foreign exchange market, the current international monetary system, and the foreign exchange risks in international business operations  Acquire skills to critically integrate theories and concepts of international trade, foreign direct investment and foreign exchange, and apply them to analysis of some critical issues executives face in managing a global business in Asia and beyond. BEFORE SEMINAR  Textbook: Hill, Ch 6, 7, 8, 9, 10 & 11 or Hill et al, Ch, 5, 6, 7, 9 & 10  Online reading: BCG 2012; Buckley, 2011; Tian, Ch 3; Morrison, W.M. 2013;  Online lecture podcast and Quiz  Online video: 1. Free trade in Asia Pacific (9 minutes): http://www.youtube.com/watch?v=NbA4WP-aTAI 2. Trump vs Friedman - Trade Policy Debate (8 minutes): https://www.youtube.com/watch?v=7DhagKyvDck DURING SEMINAR (face-to-face)  The seminar focuses on theories and evidence of international flows of goods, investment and currency, and regional integration in the Asia Pacific region.  Case study workshop: DMG-Shanghai (Hill et al, p. 108), etc. AFTER SEMINAR (online)  Reflecting on the key concepts, such as International trade; New trade theory; Foreign direct investment; Transaction cost theory; Internalization theory; Regional integration; spot exchange rate; forward exchange rate; currency swap; transaction exposure; translation exposure; and economic exposure  Reflecting on the questions as indicated in the Module Description of the topic (p.23).  Working in teams on the International Business Plan through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Working independently on an essay to be posted to the online discussion forum Discussion Forum 13 MODUEL 2. GLOBAL STRATEGIC THINKING AND MARKET ENTRY 4 SEMINAR 4: Global Strategic Thinking Learning outcomes: 2, 3 & 4 Learning objectives: when students have actively engaged they will be able to:  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the critical strategic decisions executives have to make in managing a global business in Asia and beyond  Analyse and develop effective approaches to innovatively develop strategies in line with the particular circumstances in which a firm finds itself  Generate new ideas for decision-making that benefits both the company and the society in an international context BEFORE SEMINAR  Textbook: Hill, Ch 13, 14 & 5 or Hill et al, Ch 12, 13 & 4  Online reading: Ghemawat 2007; Khanna et al, 2005; Porter & Kramer 2011; Santos & Williamson, 2015.  Online lecture podcast and Quiz  Online video: 1 Coco Cola Strategy (5 minutes): https://www.youtube.com/watch?v=QAyJVtEIAtM 2 Porter on Shared value (38 minutes): https://www.youtube.com/watch?v=vaEv4frj-88 DURING SEMINAR (face-to-face)  The seminar focuses on the merits and limitations of a popular strategic framework in which managers choose among four strategies and corresponding organizational forms for a global business, and introduces the shared-value creation perspective on strategy  Case study workshop: Walmart’s Global Expansion (Hill et al, p.429), etc. AFTER SEMINAR  Reflecting on the key concepts, such as Transnational strategy; Global strategy; International strategy; Localization strategy; Shared-value creation  Reflecting on the questions as indicated in the Module Description of the topic (p.27).  Working in teams on the International Business Plan proposal through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Working independently on an essay to be posted to the online discussion forum Discussion Forum 14 5 SEMINAR 5: Market Entry and Strategic Alliances Learning outcomes: 2, 3 & 4 Learning objectives: when students have actively engaged they will be able to:  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the critical decisions executives have to make on how to enter a foreign market  Analyse and develop effective approaches to innovatively address the challenges a firm faces in entering a foreign country  Generate new ideas to relate entry decisions to the broad strategic issues a firm faces in managing a global business as discussed in session 5 BEFORE SEMINAR  Textbook: Hill, Ch 15 or Hill et al, Ch 14  Online reading: Tian, Ch 4 & 5  Online lecture podcast and Quiz  Online video: 1. Starbucks CEO on establishing a joint venture in India (3 Minutes): http://www.youtube.com/watch?v=gGl-kr7LXf0 2. SUBWAY Story: Franchisees: Owning Stores (5 Minutes): https://www.youtube.com/watch?v=qf97eKDdTPM DURING SEMINAR (face-to-face)  The seminar focuses on decisions on entering a foreign market, including the choice of a foreign market to enter, the choice of entry timing, the choice of entry scale, and the choice of entry modes.  Case study workshop: Tesco Goes Global (Hill et al, p.494), etc. AFTER SEMINAR  Reflecting on the key concepts, such as Exporting; Turnkey; Licensing; Franchising; Joint venture; Wholly owned subsidiary; Acquisition  Reflecting on the questions as indicated in the Module Description of the topic (p.27).  Working in teams on the International Business Plan proposal through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Working independently on an essay to be posted to the online discussion forum Discussion Forum Submission of Business Plan Proposal (Friday, 5pm) 15 6 COACHING 1: International Business Plan Proposal Presentation BEFORE COACHING Prepare and discuss international business plan proposal in team DURING COACHING (face-to-face) Simulation: Each team present international business plan proposal to the Board of Directors using powerpoint slides, while the rest of the class and the instructor act as Directors to provide feedback to the proposal AFTER COACHING  Reflect on the feedback provided by the Board of Directors and the instructor, write up the international business plan final report  Working independently on an essay to be posted to the online discussion forum International Business Plan Proposal Presentation 16 MODUEL 3. FUNCTIONAL MANAGEMENT AND IMPLEMENTATION 7 SEMINAR 6: Global Marketing and R&D Learning outcomes: 2, 3 & 4 Learning objectives: when students have actively engaged they will be able to:  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the challenges executives face in managing the marketing mix in an international context  Analyse and develop effective approaches to innovatively resolving problems a firm faces in product, pricing, promotion, and distribution in foreign markets  Generate new ideas to relate marketing decisions to the broad the strategic issues a firm faces in managing a global business as discussed in session 5 BEFORE SEMINAR  Textbook: Hill, Ch 18 or Hill et al, Ch 17  Online reading: Tian, Ch 8; Case studies may be provided in class  Online lecture podcast and Quiz  Online video: 1. McDonald's TV Advertisements in different countries (3 minutes): https://www.youtube.com/watch?v=_d3SXLxzP3E 2. "Five Things Marketers Get Wrong About China"(17 minutes): https://www.youtube.com/watch?v=MR2paaSHEAQ DURING SEMINAR (face-to-face)  The seminar focuses on international marketing mix or marketing 5 Ps: people, product, price, place and promotion.  Case study workshop: Kodak in Russia (Hill et al, p.607), etc. AFTER SEMINAR  Reflecting on the key concepts, such as Marketing mix; Market segmentation; Product attributes; Strategic pricing; Push and Pull strategies; Distribution channel; R&D  Reflecting on the questions as indicated in the Module Description of the topic (p.30).  Working in teams on the final report of the International Business Plan through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Posing your essay to the online discussion forum (app. 700 words) Discussion Forum (Essay submission, Friday, 5pm) 17 8 SEMINAR 7: Global Production and Logistics Learning outcomes: 2, 3 & 4 Learning objectives: when students have actively engaged they will be able to:  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the main issues executives face in managing production and supply chain in an international context  Analyse and develop effective approaches to innovatively resolving problems a firm may encounter in making decisions on centralization or decentralization, make or buy product, and logistics in foreign markets  Generate new ideas to relate decisions on production and logistics to the broad strategic issues a firm faces in managing a global business as discussed in session 5 BEFORE SEMINAR  Textbook: Hill, Ch 17 or Hill et al, Ch 16  Online reading: Buckley, 2011; Tian, Ch 9; Case studies may be provided  Online lecture podcast and Quiz  Online video: 1. Dell Notebook Global Value Chain (2 minutes): https://www.youtube.com/watch?v=owQzo82ac_M 2. Ford Motor Company's European Supply Chain Case Study [HD] (11 minutes): https://www.youtube.com/watch?v=KWABT48wTFw DURING SEMINAR (face-to-face)  The seminar focuses on major decisions that executives have to make in managing production and logistics across national borders, including product quality, the choice of location and the choice of make-or-buy, and supply chain management  Case study workshop: Microsoft – Outsourcing Xbox Production (Hill et al, p.573), etc. AFTER SEMINAR  Reflecting on the key concepts, such as Minimal efficiency scale; Lean production; Value-to-weight ratio; Make-or-Buy; Just-in-time  Reflecting on the questions as indicated in the Module Description of the topic (p.30).  Working in teams on the final report of the International Business Plan through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Reading essays posted by peer students in the online discussion forum and prepare your comments on two essays of a topic different from yours (app. 350 word for each comment). Discussion Forum 18 9 SEMINAR 8: Global Human Resource Management Learning outcomes: 2, 3 & 4 Learning objectives: when students have actively engaged they will be able to:  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the main issues executives face in human resource management in an international context  Analyse and develop effective approaches to innovatively resolving problems a firm may encounter in staffing, expatriate management, and local workforce management  Generate new ideas to relate decisions on human resource management to the broad strategic issues a firm faces in managing a global business as discussed in session 5. BEFORE SEMINAR  Textbook: Hill, Ch 19 or Hill et al, Ch 18  Online reading: Tian, Ch 10; Case studies may be provided  Online lecture podcast and Quiz  Online video: 1. Expat Women in Hong Kong Society (5 minutes): http://www.youtube.com/watch?v=-5Mk6o_QXlQ 2. Apple Chinese Factory Foxconn Nightline(15 minutes): https://www.youtube.com/watch?v=h1_XAuJ8qCc DURING SEMINAR (face-to-face)  The seminar focuses on the major human resource management issues that executives face in managing a global business.  Case study workshop: XCO China (Hill et al, p.635), etc.  Course review for exam AFTER SEMINAR  Reflecting on the key concepts, such as Ethnocentric staffing; Polycentric staffing; Geocentric staffing; Expatriate failure; Labour rights  Reflecting on the questions as indicated in the Module Description on the topic (p.30).  Working in teams on the final report of the International Business Plan through online media (skype, email, Dropbox, etc.) or face-to-face discussion  Posting your comment on one essay to the online discussion forum Discussion Forum (Comment 1 submission, Friday, 5pm) 19 COACHING. INTERNATIONAL BUSINESS PLAN REPORT 10 COACHING 2: International Business Plan final report BEFORE COACHING Discuss international business plan final report in team, and prepare for the questions on which you need to consult with the instructor during coaching hours DURING COACHING (face-to-face) Meet with the instructor to discuss the questions you have regarding your international business plan final report AFTER COACHING  Reflect on the discussion with the instructor, and continue to work on the international business plan final report  Posting your comment on a second essay to the online discussion forum Discussion Forum (comment 2 submission, Friday, 5pm) 11 COACHING 3: International Business Plan final report BEFORE COACHING Discuss international business plan final report in team, and prepare for the questions on which you need to consult with the instructor during coaching hours DURING COACHING (face-to-face) Meet with the instructor to discuss the questions you have regarding your international business plan final report AFTER COACHING Reflect on the discussion with the instructor, and continue to work on the international business plan final report 12 COACHING 4: International Business Plan final report BEFORE COACHING Discuss international business plan final report in team, and prepare for the questions on which you need to consult with the instructor during coaching hours DURING COACHING (face-to-face) Meet with the instructor to discuss the questions you have regarding your international business plan final report AFTER COACHING Reflect on the discussion with the instructor, and continue to work on the international business plan final report International Business Plan final report submission (Friday, 5pm) 13 Study Break 14 Assessment Week Final Exam 20 Assessment Assessment for this unit is conducted in accordance with the Assessment Policy. The version of the Assessment Policy applicable for this unit can be found at http://www.murdoch.edu.au/index/policies/index?Filter=assessment Schedule of assessment items Assessment components Assignment Value Unit Learning Outcome Course Learning Outcome Due International Business Plan Proposal & Presentation (1,500 words equivalent) 15% 1,2 [K] 1,4 [S-A] 11,12  Submission: Friday, 5pm Week 5 (9 June).  Presentation: Week 6 International Business Plan Final Report (4,500 words) 35% 1,2,3,4 [K] 1,2,3 [S-A] 2, 3,11, 12 Friday, 5pm, Week 12 (28 July) Participation (2,000 words equivalent)  In-class discussion  Online discussion forum 20% 1,2,3,4 [K] 1,2,3 [S-A] 2, 3,11, 12  Continuous  Essay: Friday, 5pm, Week 7 (23 June)  Comment 1: Friday, 5pm, Week 9 (7 July)  Comment 2: Friday, 5pm, Week 10 (14 July) Final Exam (3,000 word equivalent) 30% 1,2,3,4 [K] 1,2,3 [S-A] 2, 3,11, 12 Week 14 Note: The assessment is cumulative in nature. All parts of the assessment must be completed in order to pass the course. Assessment details 1. International Business Plan Proposal & Presentation: 15% You need to undertake an international business plan project throughout the semester. This assignment is to facilitate you in achieving unit learning outcomes 1, 2, 3 and 4. The 21 international business plan project will be undertaken in a group of 2-4 depending on the size of the class. In sessions 1 & 2, you will negotiate with other students to form a team based on common interest. The instructor may restructure the groupings when it deems necessary. The team need to select a team coordinator in the following weeks and inform the instructor of the name and student ID of the coordinator no later than the end of session 2. The coordinator liaises with team members to organize team meetings for the project. The assumption of the project is that you are now working for a company which plans to enter a foreign market and asks you to develop a business plan for the overseas business expansion. The company’s information should be accessible on internet. You are advised to choose a company in an industry that you are familiar with or an industry where you plan to work after your MBA study. You must discuss your chosen company with the instructor. You must choose a foreign country market that the company HAS NOT entered yet. You may find the GlobeEDGE website useful in searching for information about the target country market: http://globaledge.msu.edu/. You need to submit a written proposal of your business plan in Microsoft Word format via LMS no later than Friday, Week 5, 5pm. An assignment cover sheet must be attached to the assignment. The proposal should be approximately 1,500 words in length. In week 6, the coaching session, there is a simulation: you are required to present the proposal of your business plan to the Board of Directors of your company, while other students and the instructor will act as members of the Board of Directors to provide feedback on your proposal. The duration of the presentation should be 15 minutes. After the presentation, you need to respond to the comments and questions from the Board of Directors. You will receive the mark and written feedback on your business plan proposal and presentation within two weeks after your presentation. Marking criteria 1) Ability to explain why the company chooses to enter the target country market (5%); 2) Ability to recommend strategy and entry mode appropriate for the company in the chosen market, and explain the rationale for your recommendations (6%); 3) Oral presentation and communication skills, and skills in interacting with classmates to respond to questions (2%) 4) Written presentation skills and editorial care (2%) To do well in the international business plan proposal and presentation, you need to conduct extensive research on the chosen company and the target country market, read relevant chapters of the textbook and additional readings as indicated in the Study Schedule, and relate your analysis and argument to what are discussed in these readings and seminars. 2. International Business Plan Final Report: 35% After receiving feedback on your outline presentation, you need to revise your business plan in the following weeks, and write up the International Business Plan Final Report. There are three coaching sessions in weeks 10, 11 & 12, respectively, in which you meet with the instructor in team to discuss the questions/problems you have in writing up the international 22 business plan report. The final report should be about 5,000 words in length, excluding footnotes, references, and appendices, but inclusive of tables and figures. The report should be typed in Word format, including 1) Executive summary (Appx.400 words); 2) Introduction to the company and the market to enter (Appx.600 words); 3) Business model analysis and SWOT analysis (Appx.1,000 words); 4) The strategic issues the company needs to address and the entry modes the company should choose in entering the market (Appx.800 words); 5) Key management issues the company faces in specific functional areas (marketing, production/logistics, and human resource management), and actions the company is recommended to take to address these issues (Appx2, 200 words). The final report should be submitted in Word format via LMS no later than Friday, week 12, 5pm. An assignment cover sheet must be attached to the assignment. You must complete and sign the declaration. You will receive the mark and feedback on the written report of your international business plan within two weeks after submission. The marking criteria are as follows. Marking criteria 1) Ability to identify and evaluate the current business model of the company, the opportunities and threats the company faces in the target market, the strengths and weaknesses of the company in comparison with competitors in the target market, and, most importantly, major strategic and managerial issues the company will have to address in the target market (10%); 2) Ability to integrate information, including facts and examples from your own research, to develop a logical and coherent business plan framework for analysis of these strategic and managerial issues (11%); 3) Ability to select theoretical constructs learnt from classroom and self-directed reading, and innovatively apply them to creatively addressing these strategic and managerial issues (11%); 4) Quality of written presentation and editorial care (3%) To do well in the International Business Plan report, you need to conduct extensive research on the chosen company and the target country market, read relevant chapters of the textbook and additional readings as indicated in the Study Schedule, relate your analysis and argument to what are discussed in these readings and seminars, and reflect on the feedback on your proposal provided by peer students and the instructor. International Business Plan Championship Award The best business plan will be awarded the “International Business Plan Championship Award”. The Champion of the International Business Plan will be announced when the mark of the final report of the International Business Plan is released, and will be given a Certificate. Minutes of Group Meetings In undertaking the International Business Plan project, each student in the team needs to prepare a record of all group meetings to facilitate marking of this team-based 23 assignment. The Minutes of Group Meetings should include 1) date & place of each meeting; 2) attendees of each meeting; 3) allocation of work to each member of the team; and 4) main issues discussed and decisions made at each meeting. You must submit the Minutes of Group Meetings to the instructor via LMS when you submit the final report of International Business Plan. An assignment cover sheet must be attached to Minutes of Group meetings. If problems arise in the team, the team should first try to resolve the problems within the team, and record the process in the Minutes of Group Meetings. If the problems cannot be resolved within the team, you need to consult with the instructor on possible solutions. The instructor will assess the performance of individual members in this assignment based on the Minutes of Group Meetings and the instructor’s interaction with team members. The assessment of individual performance will focus on 1) attendance of group meetings; 2) collaboration with team members; and 3) performance in completing the assigned task for the business plan project. 3. Participation: 20% Students are required to actively participate in learning activities in the Unit, especially the in-class discussion and the online discussion forum. In-class discussion During each seminar, the instructor may organize various activities including case study, video, and group discussion. Students are required to actively participate in these in-class learning activities, particularly discussion on the selected case studies. Online discussion forum Each student needs to choose one of the five topics listed below to write a short essay of approximately 700 words, and post it to the Forum no later than Friday, Week 7, 5pm. After posing your essay, each student needs to write comments on two essays posted by other students on a topic different from yours, and post your comments on the two essays in Week 9 (no later than Friday, 5pm) and Week 10 ( no later than Friday, 5pm), respectively. Each comment should be approximately 350 words in length, and should demonstrate an awareness of the readings/videos as required in the Unit. The Discussion Forum is intended to function as an online workshop for constructive exchange of ideas and experiences. Professional standards of behaviour should be observed as well as respect and goodwill. Possible topics for discussion include:  According to Hofstede (2007), Asian cultures bear some common features? What are they? How do these features influence management in Asia? If you were hired as a CEO who manages the subsidiary of an Australian company in an Asian country, how would you manage the subsidiary in the Asian cultural context?  Buckley (2011) proposed the concept “global factory”. What does the concept mean? What are the implications of the concept for international business? If you were to establish a firm of your own, how would you leverage the global factory to develop your firm into a successful international business? 24  According to Mathews (2006), what strategy do firms from emerging Asian economies take to catch up with firms from advanced economies? If you were hired as a CEO of a firm based in an Asian emerging economy, how would you take this strategy to develop your firm into a “dragon multinational”?  According to Santos and Williamson (2015), many multinationals based in advanced economies have failed in competition with local firms in emerging economies. Why did these multinationals fail? If you were hired as a CEO of one of such multinationals, what would you do to address the challenges you face in emerging economies?  According to Porter and Kramer (2011), firms need to create shared value. What does “creating shared value” mean? How does this approach differ from prior approach to corporate social responsibility? How should a company create shared value in an international business context? In week 10 after posting your second comment, you need to compile a portfolio of all the three postings in a single document, and submit it via LMS. You will receive the mark and feedback on your participation two or three weeks after week 10. The marking criteria for in- class discussion and online discussion forum are as follows. Marking criteria for in-class discussion (10%) 1) Relevance to what are discussed in the Unit, and awareness of readings and videos as required in the Unit (4%); 2) Ability to select theoretical constructs learnt from self-directed readings and seminars, and innovatively apply them to addressing the issues under discussion (2%); 3) Quality of oral communication (2%). Marking criteria for online discussion forum (10%) 1) Relevance to what are discussed in the Unit, and awareness of readings and videos as required in the Unit (4%); 2) Ability to select theoretical constructs learnt from self-directed readings and seminars, and innovatively apply them to addressing the issues under discussion (2%); 3) Quality of written presentation (2%). To do well in participation, you need to attend all seminars, read the required readings, view videos as required, and relate your analysis and argument to what are discussed in these readings, videos and seminars. 4. Final exam: 30% (Approximately 180 minutes) The final exam will be in Week 14. The exam is closed book, consisting of multiple choice questions and case/essay questions. Assignment submission 25 Further to what has been said above about the lodgement of assignments the following must be complied with:  It is the responsibility of students to keep a copy of all assignments handed in for assessment.  Late submissions will be penalized according to the University policy.  In unforeseeable circumstances, you need to write to the instructor to obtain approval for extension of the deadline. Referencing style In writing the International Business Plan report, you can follow either the APA reference style or the Chicago referencing style, but you must use one of them consistently throughout the proposal and report. The two referencing styles can be found at http://our.murdoch.edu.au/Student-life/Study-successfully/Online-and-Print- Resources/referencing Determination of the final grade  It is important to submit all prescribed assignments and sit the final exam;  See pages 8-10 of the Unit Guide on how the indicative percentages of each component combined to form the final grade;  A deferred exam is available due to medical or any unforeseen circumstances. Prior permission should be obtained from the Examinations Office;  Supplementary assessment and exam shall be at the discretion of the Unit Coordinator;  There is a possibility of marks being moderated to ensure equity of marking and consistency across examinations on different offerings of the unit;  The final grade is based on the percentage range of your marks as illustrated in the table below. Grades and Marks Notation Grade Percentage Range HD High Distinction 80 – 100 D Distinction 70 – 79 C Credit 60 – 69 P Pass 50 – 59 N Fail Below 50 DNS Fail Fail, the student failed to participate in assessment components that had a combined weighting of 50% or more of the final mark. SA Supplementary Assignment 45 – 49* SX Supplementary Exam 45 – 49* *The award of the grade of SA or SX shall be at the discretion of the Unit Coordinator 26 LEARNING GUIDE This Unit consists of 8 seminars and 4 structured coaching sessions organized into four modules. MODULE 1: GLOBAL BUSINESS ENVIRONMENT The module discusses the changes in the global business environment in recent decades. It includes three seminars. The first seminar is about accelerated globalization and the rise of emerging markets in Asia. Key issues to be discussed include:  In what ways has globalization accelerated?  What have driven globalization?  What are the benefits and costs of globalization?  How does globalization affect business and management?  What does the rise of emerging economies in Asia mean to firms in this region? The second seminar is about cross-border differences in political economy and culture against accelerated globalization. Key issues to be discussed include:  How do countries differ in political system, economic system, and culture?  How do country differences affect economic development? What has led to the Asian miracle in recent years?  How do country differences affect business operations in this region?  Do you agree with Francis Fukuyama or Samuel Huntington on where the world is heading? Please justify your argument with evidence. The third seminar is about cross-country linkage and regional integration in the Asia Pacific region. Countries that differ significantly in political economy and culture are increasingly connected by cross-country flows of goods, investments and currencies. Economic integration accelerated in the Asia Pacific region in recent years. Key issues to be discussed include:  Why do countries trade with each other, and invest in foreign countries?  Should national governments intervene in cross-country flows of goods and investment or leave the flows to the hand of free market forces?  What determine the change in foreign exchange rates? How are foreign exchange rates managed by national governments and the international community?  What role does a foreign exchange market play?  What are the major foreign exchange risks? How to deal with these risks?  What does Asia Pacific economic integration mean to firms in this region? The discussion will provide you with a broad picture of the changing global context in which a business is operating today, and will help you think and analyse the strategy and management issues to be discussed in the following two modules. 27 Seminar 1. Introduction: Globalization and the Rise of Asia Session description The session introduces students to the field of global business, including key information about the unit as described in this UILG. The session then discusses changes in the landscape of the global business environment characterised by accelerated globalization and the rise of emerging markets in Asia. The discussion focuses on the benefits and costs of globalization, and the impact of the changing global business environment on business operations. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome Identify, describe, and evaluate changes in the global business environment in the Asian century, and the impact of the changes on business operations (ULO 1) Key concepts  Globalization of market  Globalization of production  Emerging markets Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. 28 Seminar 2. Country Difference and the Myth of Asia Session description Cross-border differences in political economy and culture persist despite accelerated globalization. This session discusses differences in political system, economic system, legal system, and culture between nations, particularly between Asian nations and other parts of the world. The session focuses on how the differences affect economic development as well as business operations. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Identify, describe, and evaluate changes in the global business environment in the Asian century, and the impact of the changes on business operations (ULO 1)  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2). Key concepts  Political economy  Culture  Hofstede  Variety of Capitalism Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. 29 Seminar 3. Cross-country Linkage and Regional Integration in the Asia Pacific Session description The session discusses international flows of goods, investment, and currencies, and regional integration in the Asia Pacific region. The session focuses on theoretical rationales for cross-border linkage, government policy toward cross-border linkage, and implications of cross-country linkage for managing a global business in the Asia Pacific region. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Identify, describe, and evaluate changes in the global business environment in the Asian century, and the impact of the changes on business operations (ULO 1)  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2). Key concepts  International trade  Foreign direct investment  Foreign exchange  Regional integration Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. 30 MODULE 2: GLOBAL STRATEGIC THINKING AND MARKET ENTRY This module introduces some frameworks, analytical tools, and concepts that help managers think strategically about how to deal with the opportunities and challenges they face in the rapidly changing global business environment. It includes two seminars and one coaching session. The first seminar, global strategic thinking, focuses on four strategic choices of dealing with two major pressures in global business and the corresponding organizational structures. It also discusses the problems with the framework of the four strategic choices, the emerging approach to incorporating corporate social responsibility into strategy, and some analytical tools. Key issues to be discussed include:  What are the two major pressures faced by managers in international business? How should managers deal with these pressures?  What is an international strategy, a global strategy, a localization strategy, and a transnational strategy?  What is an international division structure, a worldwide area structure, a worldwide product structure, and a global matrix structure?  How are the four strategic choices related to the four organizational structures?  What is shared-value creation? How can firms incorporate corporate social responsibility into strategy to create shared value in international business, especially in the Asian context? The second seminar, market entry and strategic alliances, focuses on strategic decisions on how to enter a foreign market, including which market to enter, at what time, on what scale, and by what entry mode. In particular, it introduces specific entry modes and various strategic alliances. Key issues to be discussed include:  How to make decisions on which foreign market to enter, at what time, and on what scale?  What make Asian countries attractive or unattractive to foreign investors?  What are the six major entry modes? What are the advantages and disadvantages of each of these entry modes?  What are the major types of international strategic alliances? What are the challenges that managers face in making the strategic alliances work? The coaching session consists of a simulation in which each team present their international business plan proposal to the Board of Directors using powerpoint slides, while the rest of the class and the instructor act as the Directors to provide feedback on the proposal. The international business plan proposal should focus on the choice of a foreign market, of strategy, and of entry mode for your company. Seminar 4. Global Strategic Thinking 31 Session description The session discusses a popular strategic framework in which managers choose among four strategies and corresponding organizational forms for a global business. The session further points out drawbacks of the framework, and advises managers to innovatively incorporate ethics and CSR into strategic thinking in order to create shared value in global business. The session ends in introducing some useful strategic analytical tools. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Transnational, global, international, and localization strategies  Shared-value creation  SWOT analysis  Business model and strategic positioning Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. Seminar 5. Market Entry and Strategic Alliances 32 Session description The session introduces students to major decisions on entering a foreign market, including the choice of a foreign market to enter, the choice of entry timing, the choice of entry scale, and the choice of entry modes. It also discusses what types of strategic alliances a firm may form with local partners in a foreign market, and how to make an international strategic alliance work. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Exporting  Turnkey  Licensing  Franchising  Joint venture  Wholly owned subsidiary Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. 33 Coaching 1. International Business Plan Proposal Presentation Session description The coaching session consists of a simulation in which each team present their international business plan proposal to the Board of Directors using powerpoint slides, while the rest of the class and the instructor act as the Directors to provide feedback to the proposal. The international business plan proposal should focus on the choice of a foreign market, of the strategy, and of entry mode for your company. What you need to do Students are expected to work in team to prepare for the international business plan proposal before the coaching session. In the coaching session, students need to formally present the proposal to the Board of Directors for feedback and suggestions. To do well in the session, students need to actively participate in the previous seminars and do the readings related to the seminars. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Business model  Strategy, entry mode Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for the previous five seminar sessions as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to actively participate in the simulation. 34 MODULE 3: FUNCTIONAL MANAGEMENT AND IMPLEMENTATION Module Description: This module discusses management issues in major functional areas in international business. These issues are, to a degree, related to implementation of the strategies discussed in the last module. It includes three seminars. The first seminar, global marketing, focuses on the marketing mix in an international context, especially the tension between global elements and local elements in the marketing mix. It also examines R&D in an international business. Key issues to be discussed include:  Can a firm sell the same product in the same way around the world?  Why is market segmentation important in international business?  What are the main reasons for product localization?  What are the major pricing strategies in international business?  Under what circumstances should a firm adopt a push or a pull promotion strategy?  What are the major challenges a firm faces in international distribution?  How should a firm deal with R&D failure in international business? The second seminar, production and logistics, focuses on critical decisions a firm manager has to make in international production and supply chain management, including the decision on where to produce, and the decision on “make-or-buy”. Key issues to be discussed include:  What are the major factors that influence the decision on centralizing or decentralizing production facilities in an international business?  What are the major factors that influence the decision on vertical integration or outsourcing in an international business?  What are the major challenges a firm faces in global supply chain management? The third seminar, global human resource management, focuses on staffing policy, expatriate management, and local workforce management in international business. Key issues to be discussed include:  What are the advantages and disadvantages of each of the three staffing policies: ethnocentric, polycentric, and geocentric?  What are the major factors that lead to expatriate failure? How to address expatriate failure?  How to manage local labour force in relation to local talents and labour rights? The discussion will help you think about the challenges a manager faces in specific functional areas in an international business and possible approaches to dealing with these challenges. You need to relate these issues to your business plan, and discuss the issues that are relevant to your business plan in your final report. Seminar 6. Global Marketing and R&D 35 Session description The session introduces students to the concepts of marketing mix or marketing 5 Ps: people, product, price, place and promotion. It examines the tension between global standardization and local differentiation in international marketing, focusing on how to marketing products and services in foreign markets with different levels of economic development, different cultures, and different technical standards. It also discusses the role R&D plays in global marketing. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Marketing mix  Product attributes  Strategic pricing  Push and Pull strategies  Distribution channel Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. Seminar 7. Global Production and Logistics 36 Session description The session introduces students to the major decisions that executives have to make in managing production operations across national borders, including product quality, the choice of location and the choice of make-or-buy. It then discusses the major issues of supply chain management in international business, including just-in-time management, supply quality, and the role of information technology. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Minimal efficiency scale  Lean production  Value-to-weight ratio  Make-or-Buy  Just-in-time Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies . Seminar 8. Global Human Resource Management 37 Session description The session introduces students to the major human resource management issues that executives face in managing a global business, including staffing policy, expatriate management, and local workforce management. What you need to do Students are expected to go through the readings and YouTube videos specified in the Study Schedule as well as the podcast and quiz related to this topic prior to attending the seminar, and do the assignments indicated in the Study Schedule after the seminar. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Ethnocentric staffing  Polycentric staffing  Geocentric staffing  Expatriate failure  Labour rights Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for this section as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to read and debate case studies. 38 COACHING: INTERNATIONAL BUSINESS PLAN REPORT Description: In the last three coaching sessions, students meet with the instructor in team, and discuss the questions they have in writing up the international business plan report. Before the coaching sessions, it is important that students work in team to prepare for the international business plan report, and figure out questions/problems in relation to the international business plan report. The questions/problems may be related to the strategy choices, the entry choices, marketing, human resource management, production and supply chain management, corporate social responsibility, etc.. The coaching is structured as ‘open’ sessions in which students and the instructor interact to explore and address the ‘real’ problems the chosen company faces in entering a new market. In the coaching sessions, the instructor facilitates students in finding out solutions to the questions/problems they have in writing up the international business plan. 39 Coaching 2. International Business Plan Report Session description The coaching session provides an opportunity for students to consult with the instructor in team on the questions and problems they have in writing up the international business plan report. What you need to do Students are expected to work in team to prepare for the international business plan report before the coaching session. In the coaching session, students need to discuss with the instructor about the questions/problems they have in writing up the international business plan report. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Those in previous sessions Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for the previous eight seminar sessions as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to actively participate in consultation session. 40 Coaching 3. International Business Plan Report Session description The coaching session provides an opportunity for students to consult with the instructor in team on the questions and problems they have in writing up the international business plan report. What you need to do Students are expected to work in team to prepare for the international business plan report before the coaching session. In the coaching session, students need to discuss with the instructor about the questions/problems they have in writing up the international business plan report. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Those in previous sessions Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for the previous eight seminar sessions as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to actively participate in consultation session. 41 Coaching 4. International Business Plan Report Session description The coaching session provides an opportunity for students to consult with the instructor in team on the questions and problems they have in writing up the international business plan report. What you need to do Students are expected to work in team to prepare for the international business plan report before the coaching session. In the coaching session, students need to discuss with the instructor about the questions/problems they have in writing up the international business plan report. Learning outcome  Acquire skills to critically integrate theories and concepts, and apply them to analysis of the opportunities and challenges executives face in managing a global business in Asia and beyond (ULO 2).  Analyse and develop effective approaches to innovatively resolving problems in challenging international business situations (ULO 3).  Generate new ideas for decision-making that benefits both the company and the society in an international context (ULO 4). Key concepts  Those in previous sessions Resources for the session The main resources for the session are the relevant chapter (s) of the prescribed textbook and additional readings for the previous eight seminar sessions as indicated in the Study Schedule. You also need to search for additional information from various online sources. Learning activities/tasks Students will be required to actively participate in consultation session. 42 EXAM Week 13 is Study Break, and Week 14 is exam week (see page 24 for details of exam).