Introductory description

In an increasingly interconnected and interdependent world, understanding the global business environment is paramount for future leaders, entrepreneurs, and policymakers. The "Global Business Environment and Markets" module delves deep into the multifaceted dynamics that shape international business operations and strategies.
Spanning from global trade patterns and international market structures to the nuanced socio-cultural and political factors that influence cross-border transactions, this module provides students with a comprehensive overview of the challenges and opportunities inherent in global commerce. Through a blend of theoretical frameworks and real-world case studies, participants will gain insights into the external forces impacting multinational corporations, small and medium-sized enterprises (SMEs) beyond their domestic markets.
This module will introduce concepts, models and frameworks that can be applied to increase the probability of success for their own organisations and will equip them to develop their own plans within the overall business context. It also emphasizes the importance of critical thinking and problem-solving in the context of global business, equipping student with the skills required to analyse complex information and make strategic decisions.

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

The syllabus for the Global Business Environment and Markets (GBEM) module are likely to include the following key areas:
A: Global
i) The Gains from Trade
Trade interactions enable many countries to bolster productivity and raise living standards
ii): Government Organisations and Trade
Multilateralism vs. Regionalism as Institutional frameworks to support cross-border interactions
iii) The Contemporary Business Landscape and the Macroeconomic Policy Response
B: Business
i) The creation of multinational enterprises (MNEs) and supply chains through cross border capital flows (Foreign Direct Investment)
ii) Relationships between FDI and Technology Transfer and company size and Innovation
C: Markets
i) Prices and Global Markets
ii) Approaches to Forecasting Market Dynamics
D. Environment
i) Externalities
ii) Economic Incentives and Green Policy

Learning outcomes

By the end of the module, students should be able to:

• Demonstrate a comprehensive knowledge of the intricacies of the international trade system and the multifaceted role played by multinational corporations within the dynamic process of globalization.
• Develop a critical and discerning understanding of the complex ways in which global political and cultural disparities shape the decision-making processes employed in the realm of international business.
• Analyse the profound impacts of government regulatory policies on the exchange of goods, services, and technology across both domestic and international markets.
• Demonstrate an in-depth comprehension of the ramifications arising from the global financial crisis and the subsequent macro policy responses, with a particular focus on their influence on the local business environment.
• Apply principles derived from the disciplines of international business and economics to explore the connection between financial markets and the tangible economic activities constituting the real economy.

Indicative reading list

Baldwin R. (2016). The Great Convergence: Information Technology and the New globalization. Harvard University.
Charles W. L. Hill. (2022). International Business: Competing in the Global Marketplace ISE, McGraw Hill, 14th Edition.
Kyle Bagwell & Chad P. Bown & Robert W. Staiger. (2016). "Is the WTO Passé?," Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1125-1231, December.
Peter J. Neary. (2009). Foreign Direct Investment: The OLI Framework. Oxford University.
Roger Perman, et al.. (2011). Natural Resource and Environmental Economics, Pearson Addison Wesley, 4th Edition.

View reading list on Talis Aspire

International

The module's entire focus is on globalisation and the interdependence of countries, including the various ways in which the principle economic agents of households, firms, and governments shape and interact within this environment. Not only is the course content global in nature, but the speaker line-up tends to comprise experts from a variety of countries as well as diverse cultural and gender backgrounds.

Subject specific skills

Effective use of secondary data in business presentations and reports. Leadership and business communication skills. Identify profitable international market opportunities. The application of key concepts from economics. Understanding of government regulations related to competition and environment policy.

Transferable skills

Data analytical skills; Economics essay writing; Decision making in a global market; Negotiation (planning and implementation); Presentation skills; Time management and teamwork.