INTERNATIONAL BUSINESS AND MARKETING



International Business and Marketing WVEIS Code 0410

This course is for students with a career interest in the field of international trade or for students who intend to pursue a business/marketing degree. This course provides students with an understanding of the various careers in international trade, finance and marketing. Fundamental concepts, principles, and theories of marketing in an international setting are considered.

Standard 1: Role of International Business (0410.S.1)

Explain the Role of International Business.

Role of International Business Objectives

Students will:

0410.1.1 Identify examples of international trade in the local and state community.

0410.1.2 Describe the impact of international business activities on the local, regional and national levels.

0410.1.3 Analyze the impact of a domestic company involving itself in international trade opportunities.

0410.1.4 Describe the resources (e.g., ports, trade routes, transportation centers, foreign trade zones and natural, financial, and human resources) of major cities around the world.

0410.1.5 Identify business opportunities in countries in various levels of economic development.

Standard 2: Communication Strategies (0410.S.2)

Apply Communication Strategies in International Business Relations.

Communication Strategies Objectives

Students will:

0410.2.1 Compose effective business communications.

0410.2.2 Analyze international business blunders resulting from ineffective or incorrect communication patterns.

0410.2.3 Identify international cultural differences in food, dress, social behaviors and language.

0410.2.4 Compare business protocol of various countries.

0410.2.5 State examples of non-verbal communication affecting international businesses.

Standard 3: Social, Cultural, Political, Legal, and Economic Factors (0410.S.3)

Describe Factors That Shape and Impact the International Business Environment.

Social, Cultural, Political, Legal and Economic Factors that Impact the International Business Environment Objectives

Students will:

0410.3.1 Identify distinctive social and cultural factors affecting business activities (e.g. time, workday, workweek, schedules, holidays).

0410.3.2 Describe how trade barriers, tariffs, quotas and taxation policies affect choice of location for companies operating internationally.

0410.3.3 Recognize legal differences that exist between and among countries in areas such as consumer protection, product guidelines, labor laws, contract formulation, liability and taxation.

0410.3.4 Define terms such as GDP (GNP), balance of trade, foreign debt and cost of living.

0410.3.5 Analyze the availability of resources and economic potential in various countries.

0410.3.6 Identify the economic systems used to decide what to produce, how it is produced, and for whom it is produced in a country.

0410.3.7 Evaluate the competitive strengths and weaknesses faced by a company involved in international business.

Standard 4: International Finance and Risk Management (0410.S.4)

Explain the Role, Importance, and Concepts of International Finance and Risk Management.

International Finance and Risk Management Objectives

Students will:

0410.4.1 Explain how currency exchange rates affect companies.

0410.4.2 Identify risks associated with international trade.

Standard 5: Operations and Management of Human Resources (0410.S.5)

Address the Operations and Management of Human Resources.

Operations and Management of Human Resources Objectives

Students will:

0410.5.1 Describe the production processes used to create goods and services in different countries.

0410.5.2 Discuss factors that influence the type of merchandise/inventory control systems used by companies operating internationally.

0410.5.3 Identify the factors that influence the application of managerial styles in different countries.

0410.5.4 Describe how compensation and employee benefits differ in various cultures.

0410.5.5 Identify how differences in occupational health and safety standards impact the conduct of business internationally.

Standard 6: Marketing Concepts (0410.S.6)

Apply Marketing Concepts to International Business.

Marketing Concepts Objectives

Students will:

0410.6.1 Describe how a company markets a product/service in other countries.

0410.6.2 Illustrate how social, cultural, technological and geographic factors influence consumer buying behavior in different countries.

0410.6.3 Evaluate market potential for a good or service in a foreign market.

0410.6.4 Describe how the marketing mix elements need to be adapted for international marketing efforts.

0410.6.5 Analyze buying patterns of consumers in a foreign market.

0410.6.6 Explain how the marketing research process, including data collection, differs in an international application.

0410.6.7 Give examples of countries that have absolute and comparative advantage.

0410.6.8 Explain how brands and packages are affected by culture.

0410.6.9 Explain how the business environment affects prices charged in foreign markets.

0410.6.10 Select distribution channels for a company involved in international business.

0410.6.11 Discuss media used in different foreign markets.

0410.6.12 Analyze the influence of social and cultural factors affecting promotions used in foreign markets.

Standard 7: Trade Concepts in the Import/Export Process (0410.S.7)

Relate Balance of Trade Concepts to the Import/Export Process.

Trade Concepts Objectives

Students will:

0410.7.1 Identify goods and services imported to or exported from a country.

0410.7.2 Analyze the import or export potential for a good or service.

0410.7.3 Describe the role that U.S. Customs and the customs agencies of other countries play in international trade activities.

0410.7.4 Define why trade barriers are imposed by governments (such as quotas, tariffs, licensing requirements, exchange rate controls).

0410.7.5 Describe international trade agreements (e.g., GATT, NAFTA).

Standard 8: Business Ownership and Entrepreneurial Opportunities (0410.S.8)

Identify Forms of Business Ownership and Entrepreneurial Opportunities.

Forms of Business Ownership and Entrepreneurial Opportunities Objectives

Students will:

0410.8.1 Analyze various forms of business ownership (e.g., sole proprietorship, corporation, partnership) for different international business situations.

0410.8.2 Determine social and cultural influences on the form of business ownership used or reuired in different countries.

0410.8.3 Identify potential new international business ventures for locally based companies.

0410.8.4 Distinguish between licensing and franchising for international business activities.

Standard 9: Technology in International Business. (0410.S.9)

Identify Technology Utilized in International Business.

Technology in International Business Objectives

Students will:

0410.9.1 Describe how the use of technology impacts the global market.

0410.9.2 Identify global e-commerce legal issues. [pic]

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