1. The world economy has become more global as nation states have become more tightly integrated. The potential business opportunities have increased commensurately.
a) Describe and examine the shifts in the world economy over the last 30 years.
b) Discuss and evaluate the International business implications of these shifts for business people based in:
i. Germany (12.5)
ii. USA (12.5)
iii. Ireland (12.5)
iv. Hong Kong (12.5)
2. 'National differences in political, economic and legal systems have benefits, costs and risks associated with doing business in different countries.' Hill.
a) Discuss and evaluate the potential for market exploitation of countries with different political, economic and legal systems.
b) You are a CEO with €100 million to invest in Russia or the Czech Republic. Both investments promise the same long term return. Assess the various risks of doing business in both locations. Which location would you choose and why?
3. Theoretical determinants and dimensions form the bedrock of our ability to analyse cultural differences.
a) Discuss and examine the determinants of culture.
b) Critically discuss and evaluate Hofstede's cultural dimensions.
c) If you are a business person planning to enter the Chinese market, to what degree will knowledge of the dimensions and determinants of Chinese culture facilitate a deeper appreciation of the issues of doing business there and contribute to your business success?
4. 'Economists argue that free trade stimulates economic growth and raises living standards across the board ....... International Trade Theory has shaped the economic policies of many nations for the past 50 years.' Hill.
a) Discuss, examine, compare and contrast the trade theories Mercantilism, Absolute Advantage, Comparative Advantage, and Heckscher-Olin, and what they mean for international business.
b) Discuss, analyse and evaluate Porter's Diamond in the context of an emerging market of your choice. How does Porter's Diamond compare as a useful tool for the international business person?
5. An international strategic alliance is about the actions managers can take to compete more successfully in an international environment.
a) Discuss, examine, compare and contrast the four key international strategies that firms may adopt: Global Standardisation Strategy, Localisation Strategy, Transnational Strategy and International Strategy. What are the advantages and disadvantages of these strategies?
b) Why do firms get involved in strategic alliances in international business? What are the benefits and costs associated with international strategic alliances?
6. Any firm contemplating foreign expansion must struggle with which market to enter and the timing of entry.
a) Discuss and examine the basic entry decisions that a company faces when it decides to enter an international market.
b) What are the factors that influence a firm's choice of entry mode?
c) A small Irish firm has developed a valuable biotechnology medical product. It wants to enter the US market. Cost is an issue but not an overriding one. Which of the following strategies is the most appropriate and why?
d) Should it manufacture at home and let US agents handle marketing?
e) Should it manufacture at home and set up a wholly-owned subsidiary in USA to handle marketing?
f) Should it enter into an alliance with large US company in 50/50 joint venture, with the US partner responsible for marketing?
g) Do you have an alternative suggestion?