MSc International Business

MSc International Business
13

INTRODUCTION
This module provides participants with an appreciation of the growing importance of international entrepreneurship.  It develops appropriate knowledge and skills among students to foster international entrepreneurial attitudes and behaviour. A variety of teaching methods are used including, formal lectures/seminars, group and individual presentations.
MODULE  TUTORS (6 & 7)
Michael Warner   Email:

Dr Imani Kyaruzi Email:  imani.kyaruzi@qa.com
AVAILABILITY OF MODULE TUTORS (8)
Module tutors are available by appointment.
RATIONALE
The literature identifies three major barriers to the internationalisation of entrepreneurial firms: lack of foreign market knowledge, limited human and financial resources, and inherent weaknesses in management. In many countries, developing the entrepreneurial capabilities of firms and management teams is a significant public policy objective. Given the potential contributions of small entrepreneurial firms to economic development and export led growth, an international context and focus is highly appropriate.

AIMS    (9)
The aim of this module is to provide students with the requisite knowledge and skills to develop more flexible attitudes to risk and stimulate entrepreneurial behaviour. As well as providing the theoretical underpinnings from the emerging stream of literature in the field, practical approaches involving on-line research, communication, presentation, teamwork and decision-making skills will be developed.
LEARNING OUTCOMES    (9)
Learning outcomes are stated explicitly in the Course Document, and summarized below. On successful completion of this module students will:

KNOWLEDGE AND UNDERSTANDING
K1    Demonstrate knowledge of the factors, which influence entrepreneurial
attitudes and behaviour in an international context
K2    Understand the practice of International Entrepreneurship
K3    Understand the nature of International Entrepreneurship and demonstrate knowledge of its role within internationalising firms.
K4    As a result of the above, comment authoritatively on how entrepreneurial behaviour can be used to improve the competitive advantage of firms.

INTELLECTUAL QUALITIES
I1    Identify, analyse and synthesise materials from primary and secondary source materials that assist in the understanding of International Entrepreneurship.
I2    Construct and defend a reasoned argument in class presentations.
I3

I4    Be creative in your approach to studying topics in International
Entrepreneurship, including thinking around entrepreneurial issues drawing on
organisational experience.
Develop your learning through the cross fertilisation of ideas from others’
Experiences of working in different sectors.

PROFESSIONAL/PRACTICAL SKILLS
P1    Apply entrepreneurial skills creatively to problem solving situations.
P2    Recognise and utilise own and others contributions in group processes.
P3    Perform effectively in a team environment.
P4

P5    Participate in academic, ethical and value discussions that develop from
topics studied
Complete presentation and written assignments in a way that demonstrates
systematic information gathering, accuracy, critical reflection on arguments
presented, as well as detailed referencing in written assignments.

TRANSFERABLE SKILLS
T1

T2

T3

T4

T5    Demonstrate proficiency in written and oral communication using a variety of media.
Demonstrate an ability to deal with complex issues systematically and creatively.
Demonstrate an ability to take responsibility for development of knowledge and skills.
Demonstrate an ability to learn through critical reflection on existing
International Marketing practice.
Demonstrate an ability to learn and to enhance personal effectiveness through feedback from tutor and peers.

MODULE TEACHING (10)
Lectures / Tutorials       24hrs
Seminars    12 hrs
Independent Study    114 hrs

TEACHING PLAN – indicative content (11)

Session 1: Introduction of Course

Go through Module Handbook and assignment brief.

You should now have learnt:
•    The introduction to the nature of the International Entrepreneurship environment
•    Recognize what an SME is and the importance in the world arena
•    To appreciate changes, the compelling and consequences  in the international business landscape
•    Apply how firms value chain activities can be internationalized
•    Examine the drivers and consequences of Market Globalisation
•    The introduction of Born Global using examples
•    Recognize the evolution, challenges and characteristics faced by Born Global
•    To invent a Born Global.
•    Identify distinctive features of Born Global strategies and expansion process and why the strategies fail.
(Break)
•    Classify growing internationally Means, Pros and Cons
•    To propose how to sustain and develop a niche.
•    Illustrate first mover outcomes and their motivations
•    Demonstrate the barriers to SME internationalization
•    Develop the factors and geographic development affecting SME Internationalization
•    Construct the advantages and disadvantages for inward internationalization
•    Recognize the implications for Management

Content

1.    What is International entrepreneurship about?
2.    What is an SME and why are they important in the global economy?
3.    Using Estonia as an example of how IE boosts a countries growth
4.    Fundamental changes in the Business Landscape
•    Why firms Internationalize?
•    Firms compelled to internationalize
•    Firm level consequences of globalization
5.    How firms Value Chain Activities can be Internationalized
6.    Summary of the drivers and consequences of Market Globalization
7.    About Born Global
•    As a focal firm
•    Examples
•    Evolution and challenges
•    Common Characteristics
•    How they become global using an example
•    Invent a born Global
•    Distinctive features of Marketing Strategy and failures
•    Strategies
•    Internal Expansion Process
(Break)
8.    Growing Internationally
•    Looking at the means, pros and cons
•    Sustaining and developing the niche
•    First Movers Advantage
•    Illustrating First Mover Outcome
•    Motivations behind SME Internationalization
•    Barriers to SME internationalization
•    Factors affecting SME Internationalization
•    Geographic Development of SMEs
•    Outsourcing for SMEs (Inward internationalization)
•    Provide SME – Total  recruitment outsourcing
•    General implications for managers and acquiring global competence

Session 2:

You should now have learnt:
•    To evaluate the competing theories on small firm internationalization
•    Appraise Case Study and Discussion

Content

1.    Competing Theories on  Small Firm Internationalisation
•    Networking and limitations
•    Resource based View
•    Knowledge Based View
•    Dynamic capabilities view
•    Extending the Dynamic Capability
2.    Case Study and discussion
Session 3:

You should now have learnt to:

•    Recognise the  resourcing, funding problems, stages and implications of financing for International Entrepreneurs
•    Evaluate the differences between Business Angels and Venture Capitalists
•    Examine the Investment cycle
(Break)
•    Investigate early funding problems, working capital and cash flow management
•    Analyze the various sources of funding and conditions.
•    Illustrate the key concerns from global economic crisis.
(Break)

Content

1.    SMEs and resource paucity
2.    Why SMEs are under-banked
3.    Funding internationalization sources of funding
4.    Sources of funding: Debt Financing
5.    Who Business angels are and the differences between them and Venture Capitalists
6.    Investment cycle
7.    Early funding problems
8.    Working Capital and Cash Flow Management
9.    Creativity in Funding
10.    Sources of funding
•    Family and Friends
•    European Union
11.    EU 2020 key framework conditions
12.    Key concerns from Global Economic Crisis

Session 4:

You should now have learnt:
•    Identify teams in entrepreneurial  and international business
•    Recognize the definition of Entrepreneurship
•    Investigate the survival rates of business start ups
•    Discuss entrepreneurial founding teams
•    Explain the creation of an International New Venture Team
•    Investigate and discuss different categories between founder or founders
o    Size of founding team
o    Composition
o    the separate elements surrounding an International venture Team
o    Qualities of founders
•    Discuss and apply the roles of a board of Directors
•    Categorize the roles of professional advisors & others
•    Propose how people create a competitive advantage
•    Judge how to select the right investor
•    Assess the ways lenders and Investors add value
(Break)
•    Discussion
o    Describe the two potential pitfalls of using a team to start a firm?
o    What barriers do you think will be present?
•    Identify what the founding CEO must do and the questions the CEO must address
•    Discuss Team working in Multinational Enterprises (MNEs) and problems faced

Content

1.    Teams in International Entrepreneurship and International Business
2.    Definition of Entrepreneurship
3.    10-year survival rates of business start ups
4.    Entrepreneurial founding teams
5.    Creating an International New Venture (INV) Team
6.    Founder or Founders
•    Size of Founding Team
•    Composition
•    Separate Elements surrounding an INV Team
•    Qualities of Founders
7.    The Roles of the Board of Directors
8.    Rounding Out the Team: The Role of Professional Advisors & others
9.    Competitive Advantage: The People
10.    The right Investor????
11.    Lenders and Investors
12.    Discussion…..In groups discuss these questions….names on the sheet with summary
13.    If you are the founding CEO…….
14.    Taking your company idea …
15.    Team working in IB….MNEs
16.    Problems re Global teams
17.    Presentations of your Born Global

Session 5:
You should now have learnt to:
•    Write about the (Born) Global Mindset
•    Define and apply the Global Mindset
•    Analyze case studies of “Global Mindset”  and “why” it matters
•    Apply the “how” to develop a “Global Mindset
(Break)
•    Develop a “Global Mindset” and examine resources and tools available

Content

•    Why mindset matters
•    Changing landscape means
•    Discussion Born global Mindset – think globally , act locally
•    Challenge for international entrepreneurs
•    Defining a Global Mindset
•    Case Studies of Global Mindsets
•    Why does Global Mindset matter?
•    How to develop “Global Mindset”
•    Developing global mindset
1.    Learn a Language and read International Business News
2.    Join and International club or Group
3.    Study abroad
4.    Do an international internship
5.    Build your network with international professionals

Session 6:

You should now have learnt to:
•    Predict trends to finding opportunities
•    Examine localization and how it can apply to internationalization.
•    Compose a presentation in your groups focusing a problem, trend and one “Localization” idea to the class

Content

1.    Analysing trends to find opportunities
2.    Trends in Technology (to think about)
3.    Tech Trends to watch
4.    Localisation
5.    Presentation and discussion.

Session 7:

You should now have learnt to:
•    Compare Contemporary Issues
•    Recognize what is a Social Enterprise and why it matters
•    Distinguish the characteristics of a Social Enterprise
•    Identify the types of Social Enterprises in the UK.
•    Recognize the importance of Social enterprise in the UK.
•    Define Social Enterprises in an International Entrepreneur Context illustrated with examples.
•    Define a family business
•    Distinguish between a family versus non family business
•    Discuss the facts about a family business
•    Evaluate a family business
•    Compare the competition between Family and Business Interests
•    Appraise the advantages of a family business making application
•    Investigate problems of transferring ownership to heirs and further research

Content

1.    Current Issues
2.    What is Social Enterprise
3.    Why Social Enterprise Matters An entrepreneurial Revolution
4.    Characteristics of Social Enterprises
5.    Key Differences between Social Enterprise and Private Enterprise
6.    What Social Enterprises include
7.    The importance of Social Enterprise in the UK
8.    Social Enterprise definition
9.    What must SE’s learn
10.    Examples of SE’s that have done well and the links
11.    What is a Family Business
12.    Family versus Non-Family
13.    Facts about family Business
14.    The three circle Model of a Family Business
15.    What is your perspective on the on the family business
16.    Competition between family and business interests
Lunch
17.    Advantages of family Business
18.    Examples of GMR Group
19.    Problems transferring ownership to Heirs
20.    Family firms and research

Session 8:

You should now have learnt to:
•    Discuss and distinguish the possible advantages and disadvantages that a social enterprise will face in the future.

Content

1.    Discussion

Session 9: Seminar

Session 10: Seminar

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