School of Management, Unit Catalogue 2009/10 |
MN50450: The global environment of business |
 Credits:
| 12 |
| Level:
| Masters |
| Period: | Academic Year |
| Assessment:
| CW 50%, EX 50% |
| Supplementary Assessment: | Like-for-like reassessment (where allowed by programme regulations) |
| Requisites:
| |
| Description: | This unit is only available to students on the MSc International Management. Aims: Managing in contemporary environments calls for an understanding of external forces that impact on private sector and public organisations. Using perspectives drawn from economics, strategy and political science, the unit aims to explore key themes such as: comparative management; the regulation of industry; the globalisation of the world economy; and business and society. Learning Outcomes: This unit will enable students to: * Describe important aspects of the contemporary business environment; * Explain the importance of non-market environment to firms; * Understand how functional areas of business interact with the external economic environment; * This unit should enable students to describe key aspects of business systems in a number of different countries; * Analyse the strengths and weaknesses of these systems in comparison; * Appreciation for the importance of social and political factors in shaping different models of firm organization across countries; * Understanding of economic policy in light of institutional theory, the economics of globalization, and the cross-border integration of business activity. Skills: Intellectual * Ability to engage and demonstrate in critical thinking and evaluation skills (T, F, A) * Application of theories from economics, law, political science and sociology to real world cases (T, A) * Ability to shape, progress and then defend a coherent argument (T, F, A) * Ability to communicate complex data clearly and precisely (T, F) Professional * Self-management, time management and team working skills (F) Transferable * Develop the ability to reflect on earlier knowledge and practice and integrate the new with past experience and effectively apply it to the present situations (F) Personal * The facility to communicate and defend ideas (F/A). Content: This unit will include some of the following topics: * Key economic concepts and frameworks to understand the specific market/industrial environments in which firms operate and evolve. * The regulation of business within and across national economies * The institutions of international economic governance * Economic foundations of international business * Non-market strategy and political risk * Key theories of comparative institutional advantage, in particular how institutions create sets of opportunities and constraints on firms in different countries and thereby influence business strategies, patterns of innovation, and economic performance. * an overview of the similarities and differences in business institutions in different countries, including financial systems, corporate governance, industrial relations, education and skill formation, and inter-firm business groups. * Different public policy approaches will be explored critically with regard to law, politics, culture, and other institutional factors. * The module will also look at selected countries in depth, including the UK, USA, Japan, Germany, and emerging economies such as China. |