The Global Market: Know Your Operating Environment and Customers

The goal of the course is that the student

• Learns the significance of identifying the market’s operating environment and customers in global business operations.
• Learns about the effects of free trade and protectionism on international trade and knows all central trade agreements and organizations
• Can develop their ability in strategic thinking and knows the global strategy models of businesses as well as understands their connection with the competitiveness of businesses.
• Learns examples of global megatrends and get practice in discussing the commercial opportunities arising in them also from the perspective of the circular economy.
• Identifies the areas of responsible business and understands how they can be seen in practice.
• Learns about different business cultures and acquires more skills for internationalization.

Description

Content 1. Global Trade

• Introduction: The world is one big trade area
• Globalization is a driver of change in the economy
• Free trade vs protectionism
• The benefits of free trade
• Returns to scale and economies of scale

2. Business Strategies

• Introduction: Global business strategies
• Different strategy models
• Strategical challenges in the digital revolution
• Key factors of global competitive advantage
• Businesses source and purchase globally
• Growth of businesses and risk of business operations

3. Megatrends

• Introduction: Business opportunities of megatrends
• Emerging markets present opportunities
• New technology presents commercial opportunities
• Circular economy – sustainable economic growth

4. Responsible Business Operations

• Introduction: Responsible business operations
• Areas of responsible business

5. Business Cultures

• Introduction: Business cultures
• Time, space and gestures
• Get to know the operating environment
• USA – the largest consumer market in the world
• Challenges facing foreign businesses in the United States