Principles and Practices of International Business

Module code: MN7050

In today’s fast-paced and interdependent world, businesses are no longer confined by national boundaries. Success in international business requires not only understanding global markets, but also navigating complexities of operating across countries. This module offers you a comprehensive foundation in the critical concepts, tools, and practices needed to thrive in the global business arena. The module integrates theory with real-world application, empowering students to explore international business through case studies, practical assessments, and evidence-based insights. The module is organised into four integrated units. Each unit builds on the last to provide a layered understanding of how international businesses operate, grow, and compete.

Unit 1: Understanding International Business Environment

This unit provides a foundation for analysing the external environment in which international firms operate. The external environment faced by international managers is changing rapidly, international managers face increasing challenges in adapting and responding effectively. You will examine the political, economic, social, technological, legal and environmental factors that shape strategic decision-making in international business. The unit also explores business ethics in a global context, addressing major ethical issues faced by multinational corporations (MNCs) and the role of corporate social responsibility. Through this unit, you will develop the analytical skills needed to critically engage with the complexities and interdependencies of the international business environment.

Unit 2: International Business Strategy

This unit provides a comprehensive introduction to business strategy in an international context. As globalization intensifies competition and expands opportunities, firms must develop strategies that address diverse markets. You will explore key concepts, frameworks and theories in international business strategy, including the Uppsala internationalization process model, Born Globals, OLI framework and foreign entry modes. By the end of the unit, you will be equipped with the strategic thinking and analytical tools necessary to make informed decisions and drive business success across international borders.

Unit 3: International HRM and Cross-cultural communication

This unit explores key human resource management (HRM) challenges in international context. It focuses on managing human resources for overseas assignments, including selection processes, training, and compensation strategies. You will also explore the concept of culture in international management and analyse major cultural frameworks, such as Hofstede’s dimensions of national culture and the Global Leadership and Organizational Behaviour Effectiveness (GLOBE) study. The unit also addresses the potential for misunderstandings and conflict in cross-cultural interactions, offering strategies to enhance communication in global business settings. By the end of this unit, you will be equipped to effectively manage human resources and navigate cultural complexities in multinational environments.

Unit 4: International Entrepreneurship and Innovation

This unit explores the dynamic intersection of entrepreneurship and innovation within the global business landscape. It examines how entrepreneurs identify and exploit international opportunities and how new ventures internationalize. You will also explore different types of funding available to entrepreneurs. The unit also investigates the role of innovation in international entrepreneurship context. By the end of the unit, you will be equipped with the knowledge and skills to launch innovative ventures in international markets.