The Global Market: Know Your Operating Environment and Customers
During the course on the global market, we will study international trade from different perspectives. The focus is on the opportunities and challenges of globalization in addition to the megatrends of the economy. We will also study the significance of responsible business operations and how it is implemented in business. We will develop skills for internationalization by diving deep into the different business cultures.
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.
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
- 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