BUS613: Advanced International Business

There have been many technological advances and inventions that have revolutionized the world and brought us closer. For example, many international business calls are now conducted via video conferencing which allows groups to establish a more knowledgeable assessment of their business connections while also being able to read body language when presenting new information or opportunities. This reading on Technological Globalization from Lumen Learning provides you with information on how technology is changing the way we do business. The internet, smart phones and laptops are essentially communication tools that have enhanced our ability to connect and create opportunities on a global scale. Can you imagine how international business was conducted prior to the internet?

Advances in transportation have spurred global economic growth by reducing travel time and increasing the number of passengers. A businessperson can board a plane in the evening in New York and land in London after a 6-hour flight to attend a morning business meeting. A century ago, this journey would take several weeks by ship. Read chapter 2, which discusses the opportunities and risks for the transportation industry today. The transportation industry is vital to international business since it allows business trips, meetings, and commercial activity to occur regularly and efficiently.

In the past, the United States was a manufacturing-based economy. However, due to the rising costs of technology and the effects of globalization, most manufacturing went overseas, even though certain segments within the manufacturing industry have remained in the United States, such as high-end production that requires specialized capabilities. Though shifts in politics and international security may lead to more manufacturing happening within the United States in the future, international partners will always be necessary to provide components for production. Globalization is a critical matter for international businesses. Read this chapter and focus on the trends in global business over the past few decades. Are these trends going to continue, or could we see changes as nations start to become more isolationist in an attempt to protect jobs?

Read this introduction to a resource-based approach toward international business that highlights topics like transaction costs theory and analytical models.

Outsourcing, as a trend over the past few decades, has benefitted both consumers and companies. The ability to seek lower-cost labor, materials, and capacity has drastically reshaped the modern-day business environment. Have we hit peak outsourcing?

Outsourcing is prevalent in manufacturing, but it can be found in any industry where companies hire other providers to fill service needs at a lower cost than they could otherwise perform internally. Read this article, which discusses why contract manufacturing occurs and presents its opportunities and risks.

For the global economy to work efficiently, materials must be shipped and delivered expeditiously to allow end products to be quickly assembled for the consumer. Improvements in technology have been a significant driver in increasing the efficiency of logistics. Read this article and watch these videos, which explain the supply chain and how advances in technology have created essential links for global businesses.

As companies expand internationally, they must improve their human resource capabilities to consider culture, local labor laws, and differing approaches to work as they hire employees in other countries. This article introduces several key concepts in global HR management and explains its significance for international businesses.

Read this chapter, which covers globalization and how it affects individuals, companies, and nations. As you read, focus on how we got to this point and what the world might look like 50 years from now if globalization continues at the current rate.

Companies and investors look for opportunities that often require expanding beyond their borders. Therefore, a thorough analysis must be conducted to determine which opportunities are legitimate and mitigate potential threats to the company.

Read this chapter, which explains how a global company must consider opportunities and threats before making business decisions in international markets. As you read, think about one of your favorite companies. What opportunities and threats do they face in the global market?