There is some good news and some bad news about globalisation. The good news is that every company has the choice to integrate into the global economy or not. The bad news is that virtually every company in the world - as small as it may be - is affected by globalisation - regardless of its decision, and this is true along the value chain, i.e. both upstream and downstream. Why is that?
Well, since companies can easily source their inputs from abroad or even locate their production sites in foreign countries, they are able to optimize their production and produce at lower costs. This increases price competition in the market place to everyone. On the other hand, in a gloablised economy, companies also have the choice to expand their markets and to sell their products. This usually allows them to increase their output, has scaling effects and results again in lower unit costs. This is why it is important to understand how International Business differs from doing business in the home market. It is about seizing opportunities, assessing and managing risks, and deploying the right company policies in order to be finally successful in a globalised world.
However, doing business internationally will be different in post Covid-19 times then before. The environment will change and will increase the future challenges for management. We need to understand in which respect in order to formulate the right strategy and implementing it. We will use powerful models in order to understand the functioning of globalised economies, national differences, trade and FDI but we will also have a look into different monetary and fiscal policies and their iimpact on business.
In order to be successful and to gain a competitive advantage in the market place we need to find the strategic fit between market opportunities and the own resources and capabilities. Therefore, we will learn to analyse the impact of the business environment and how to develop and implement an international strategy (including how to remove the obstacles). This includes standardisation and localisation strategies, the organisational architecture, entry (and exit) strategies, SCM, trading, marketing and other functions.
My objectives are to create - or ideally increase - interest in the subject matter, provide a solid and comprehensive basis of the complexities of international business ennabling the students to cope with difficult situation in their future professional life. It is my mission to support everyone in achieving their own goals.