Personal Development Portfolio: Reflecting on your Personal Development Portfolio
- Prepare a brief submission (350 words) about how International Business module will help you advance your personal development, focusing on topics of particular interest to you.
For this module, recommended focus areas include:
- Improving your understanding of how international trade theory is applicable in modern business environment
- Increasing your knowledge of some of the factors that impact on an organisation’s capacity to operate and prosper in the international market
- Developing an appreciation of your potential to contribute to your organization’s international expansion plan
To prepare for this PDP assignment:
- Review the module’s content alongside your PDP.
Week1: Introduction to international business
This week you will study the international business environment and be introduced to the key concepts and theories of international trade. This week deals with the changing patterns of global trade. You will consider the opposition to globalisation and attempts to protect local industries and businesses from international competition.
Week2: Foreign direct investment and the multinational enterprise
You will focus on some of the theories and perspectives on foreign direct investment and its role in international business. You will consider the effects it can have on emerging economies and focus on the importance of the multinational enterprise as the channel for FDI. You will conclude the week by looking at the significant part played by small and medium-sized international enterprises (SMIEs) in bringing foreign investment to host countries.
Week3: Environments of international business
It is often very difficult to get organisations willing to invest in a country and this reluctance is often caused by one of a number of factors. For some it’s the legal environment, for others the political context, whilst for other countries it is cultural issues.
This week you will study the comparative competitiveness of countries and what makes some more attractive than others to multinationals and foreign direct investment. You will explore the importance of the cultural, political and legal environments in target markets. Finally, you will consider the risks and issues currently facing organisations conducting business globally.
Week4: Global financial management
This week you gain an understanding of the international monetary system and how it came about, as well as, the strains imposed on it by globalisation. You will be looking at the role of exchange rate systems, the international capital markets and the threats recurring financial crises pose to international business
Week5: International business strategies
You will be looking at the various strategies to enter new markets, how to integrate global operations within your organisation, the development of alliances to help you to sustain your growth and how to manage innovation within the global environment so that you have an organisation that continues to evolve and develop.
This week you explore the strategies available for business in an international environment and you will evaluate strategies used by organisations to gather appropriate data. In addition, you analyse the role and dangers of data collection methods available to organisations in international business.
Week6: International ethics and CSR
As organisations operate between various countries, how do the ethics and standards of the head office of the MNE translate into reality in the day-to-day operation of a subsidiary office? This question will be answered in your studies in the coming week.
This week you analyse the issues relating to ethics and corporate social responsibility for an organisation. You also evaluate strategies used by organisations to develop appropriate programs to address ethics and CSR issues.
Week7: Global marketing, supply chain, and human resources
The first area that you will cover is in international marketing, certainly a very important issue. You will need to ensure that you are communicating effectively with the people in your target market.
You will then look at the importance of effective production strategy for the organisation so that you are able to make your product efficiently and effectively.
Finally, the vital role of IHRM will be examined, with particular reference to the use of expatriates and the special issues involved in selecting and managing foreign and local staff for a global network of businesses and operational units.
This week, you explore the issues relating to international marketing, production strategies and human resource management for an organisation. You will evaluate strategies used by organisations to develop appropriate programs to address these three issues and analyse the role of marketing, production strategies and human resource management for organisations in international business.
Week8: Emerging issues and risks
This week’s work will cover a number of emerging issues for international business managers.
Internet usage and e-commerce continue to grow rapidly, with significant effects on the way business is conducted globally. At the same time, the adoption of service-oriented technologies has encouraged ever-more-sophisticated cybercriminals to hack into organisational databases to steal and cause disruption.
Issues of CSR will be addressed, in particular, the need to safeguard the environment, protect human rights and uphold basic labour standards. Government corruption can be a serious challenge for companies entering emerging markets in some developing regions. Other criminal threats to international business include counterfeiting and copyright infringement, the hijacking of cargo, financial fraud and restrictions on free movement of goods resulting from fear of terrorism.
The negative effects of price volatility in the energy and commodity markets will also be addressed, and the week will conclude with a consideration of environmental issues and the need to adopt strategies for sustainable business development.
