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  3. Business in the Global Economy

Business in the Global Economy (IBUS20002)

Undergraduate level 2Points: 12.5On Campus (Parkville)

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Overview

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Semester 2
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This subject introduces students to the challenges of managing and working in the contemporary global economy. To compete globally, businesses and managers need to understand the economic, social and political frameworks that support cross-border commerce. This subject explores the nature of country differences and how they impact and impede business choices and business risk. This subject analyses the strategies firms develop to compete internationally, focusing on how managers assess country risk, plan market entry strategies, structure their internal and external relations, and position themselves in an increasingly competitive global environment. New challenges for managers are considered, including technological innovation, environmental and ethical issues.

Intended learning outcomes

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



  • Describe the global business environment’s main features, identifying the nature and role of its main organisations and institutions;
  • Explain the multinational firm in terms of an institutional structure conducting transactions across borders;
  • Analyse key international business decisions, including choice of market, entry strategies and acquisition of resources;
  • Evaluate the cultural and ethical dimensions of managing business across borders.

Generic skills

  • High level of development: written communication; statistical reasoning; application of theory to practice; critical thinking.

  • Moderate level of development: collaborative learning; problem solving; team work; interpretation and analysis; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.

  • Some level of development: oral communication; use of computer software.

Last updated: 3 October 2024