21128 International Business

Subject level: Undergraduate

Handbook description

This subject introduces students to the multidimensional nature of international business and discusses the importance of globalisation and how it has changed the competitive environment of business. It introduces the role of multinational corporations and the complexity of international operations and management and discusses current debates surrounding multilateral bodies. An Australian perspective is adopted throughout with students also developing an understanding of business in Asia.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. analyse the reasons for the emergence of globalisation and the internationalisation of business
2. identify the main multilateral institutions and understand the debates surrounding their roles
3. identify and analyse emergent business strategies and organisational forms appropriate to international business
4. evaluate issues of social responsibility and ethics in relation to multinational businesses
5. examine the trading policies of a number of Australia's important trading partners
6. demonstrate skills in gathering and evaluating data, from both printed and internet sources, and developing a preliminary feasibility study for a potential international business.

Contribution to graduate profile

International Business provides students with a comprehensive understanding of the emergence of globalisation. It examines the role of government in determining trade policies and the operation of the main multilateral rule setting bodies. The management and operation of multinational businesses is also discussed. A number of countries of importance to Australia's are examined in some detail. Students emerge from the subject with an appreciation of multifaceted nature of trade in a globalised trading system.

Teaching and learning strategies

This subject consists of weekly lectures and seminars. Seminars are conducted around discussion of a pre-prepared topic. Students are also expected to read relevant parts of the text as well as other current readings.

Content

• The evolution of globalisation
• Background to international trade
• Government and trade relations
• The roles and functions of the multinational corporation
• Australian relations with important trading partners
• Ethics and social responsibility for multinationals

Assessment

Assessment item 1: Weekly seminar preparation (Individual)

Assessment item 2: Research report (Individual)

Assessment item 3: Final examination (Individual)

Required text(s)

Fisher, G, Hughes, R, Griffin, R and Pustay, M, 2006, International Business: Managing in the Asia–Pacific, 3rd edn, Pearson Education Sydney (ISBN 1 74103 010 2).

The Guide to Writing Assignments, Faculty of Business, UTS.

Recommended text(s)

Barnwell, N and Pratt, G, 2000, Australian Business: An Asian–Pacific Perspective, 4th edn, Prentice Hall, Sydney.

Newspapers

You are also expected to read on a regular basis a quality newspaper such as The Australian Financial Review, The Sydney Morning Herald or The Australian. Watch for special Asian Supplements with The Australian. Read the business section, as well as those parts relating to business and international affairs.

Indicative references

Journals

As a form of self-education, you should also read from a range of journals which cover matters of a wider interest, such as Time, The Bulletin, Quadrant and Eureka Street. It is always interesting to obtain points of view and opinions which are not be in accordance with your own.

Examples of international journals which may be accessed are The Economist, Business Week, Asia Week, Management Today, Fortune, Forbes,, Asian Business and the Asian Wall Street Journal. Any other reputable business journal will be of great benefit to you. Some of these may be accessed through the internet.

Business Review Weekly, as well as other business journals, are available at the student subscription rate from studentmagazines (www.studentmagazines.com.au)

Copies of relevant journals are held by the UTS library.

Websites

The Sydney Morning Herald www.smh.com.au

The Australian Financial Review www.afr.com.au

Business Review Weekly www.brw.com.au

Business Week www.businessweek.com

The Economist www.economist.com

Forbes www.forbes.com

Fortune www.fortune.com

The International Monetary Fund www.imf.org

OECD www.oecd.org

World Bank www.worldbank.org

CIA www.cia.gov

World Trade Organization www.wto.org

Bank for International Settlements www.bis.org

For a particular country you can use a search engine such as Google but be as specific as you can when entering search fields. The library also has access to The Economist Intelligence Unit databases.

Other references

Each chapter has references to sources in the text and most of these are available in the library.

Ball, Donald, McCulloch, Wendell, Geringer, Michael, Frantz, Paul and Minor, Michael, McNett, Jean (2007) International Business: The Challenge of Global Competition, 11th edn, McGraw Hill, Boston (Any recent edition would be useful)

Daniels, John, Radebaugh, Lee and Sullivan, Daniel (2004) International Business: Environments and Operations, 10th edn, Pearson Education, Upper Saddle River NJ

Delios, Andrew and Beamish, Paul (2004) International Business: An Asia Pacific Perspective, Pearson Education, Singapore

Fatehi, Kamal (2007) Managing Internationally: Succeeding in a Culturally Diverse World, Thousand Oaks, Sage

Friedman, Thomas (2000) The Lexus and the Olive Tree, Harper Collins, London

Hill, Charles, Cronk, Thomas and Wickramasekera, Rumintha (2007) Global Business Today, 1st edn, McGraw Hill, Sydney (This is book is an Australian adaptation of a popular American text. Students could benefit from any recent edition of Hill's work. Normally the texts are updated each year with little variation between editions.)

Hill, Charles (2004) Global Business Today, 3rd edn, Irwin/McGraw Hill, Boston

Mead, Richard (1998) International Management, 2nd edn, Blackwell, London

Keane, Michael (2007) Created in China : the great new leap forward New York Routledge, 2007

Martinez, D.P. (2007) Modern Japanese Culture and Society London Routledge

Milner, Anthony and Quilty, Mary (ed) (1996) Australia in Asia: Comparing Cultures Oxford UP, Melbourne

Ramburuth, Prem and Welch, Catherine (eds) (2005) Casebook in International Business Pearson Education Sydney

Stiglitz, Joseph (2002) Globalization and its discontents, New York, Norton (This book is a critique of the IMF.)

Wang, Gungwu (ed) (2005) Nation Building: Five South East Asian Histories, Singapore Institute of South East Asian Studies

Wild, John, Wild, Kenneth and Han, Jerry and Ramel, Hussein, 2006, International Business, 1st edn, Pearson Education, Sydney. (Any edition of Wild, Wild and Han published since 2000 would be useful.)