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BSc in International Business
About the programme
In the BSc IB, you are taught how global markets and economies work and how companies strategically handle the problems that arise when they operate in a foreign market. For example, such challenges could be differences in legislation and regulations in international markets, differences in what foreign customers expect from certain products, how to manage financial resources when you operate in more than one country or dealing with strategic issues in the use and development of technology innovations in global markets.
Understanding the global business environment
The global business environment will be one of the main focus points throughout the BSc IB programme. You will gain the macro perspective by learning how foreign markets work, how laws and regulations made by governments or institutions like the EU affect companies and how to formulate market-entry strategies based on the assessment of foreign market opportunities and competition.
You will also gain the industry perspective by learning how to identify and critically analyse key patterns and trends in various industries, how competition takes place on industry level and how the complexity, unpredictability and changing dynamics of an industry can affect a company.
Understanding global companies
How global companies are organised and operate are also topics you will work with. This micro perspective of how international marketing campaigns are carried out, how a company’s finances are managed across national borders and how companies interact with their customers and competitors in different markets will – together with the macro and industry perspective – give you an extensive understanding of international business.
Imagine that you are working for a subsidiary of an international company. You would need to be able to analyse and solve business problems of an international nature – and to do so you would need to make qualified and sound management decisions. Such decisions revolve around the strategic (internationalisation strategy, business objectives, etc.), structural (e.g. decentralisation of departments) and cultural (e.g. company culture and management style) aspects of the organisation.
You will also investigate how technology can be used to add value to the business, assist in a globalized innovation process and tap into new and unconventional sources of creativity and expertise. Ultimately you will learn the use of techniques for identifying significant international business issues, extrapolate probable outcomes, and develop strategic responses.
Special option during BSc IB
- Global Supply Chain and Logistics Management: on BSc IB, you can apply for GLOBAL SCLM which is a programme focusing on international business, global logistics and supply chain management. The accepted students will spend a semester each in Copenhagen and at two partner universities: The Chinese University of Hong Kong, CUHK in Shenzhen, China and The University of British Columbia, UBC in Vancouver, Canada. Please note that this option only is available to a very limited number of students.
Learn more about GLOBAL SCLM.
- TREBLE: on BSc IB you can apply for TREBLE which is a new tri-continental programme focusing on business knowledge, global experience, and network, from three different continents – U.S, Asia and Europe. The accepted students will spend a semester each at two partner universities, University of North Carolina at Chapel Hill (UNC), Singapore Management University (SMU) and Copenhagen Business School (CBS). Please note that this option is available to a very limited number of students.
Learn more about TREBLE
Hear students share insights about BSc IB
Hear students at BSc IB share some experiences and their thoughts about the programme.
- the complexities of large, globally oriented companies and the international business world in which they operate.
- understanding these globally oriented companies from many different perspectives as the programme encompasses a wide range of topics within business administration. This also means that you will not specialise within one particular field of study before your master’s programme.
The main focus of the programme is on companies and business administration. However, BSc IB also deals with the phenomenon of globalisation including topics such as global trade, political regulations of markets and macroeconomics. It is therefore useful to have a general interest in politics, economics and the cultures of different countries and regions.
Why students chose BSc IB
Students at CBS come from all over the world, and all have different backgrounds. Hear students at BSc IB share their background, and why they chose to apply for the programme.
BSc IB has some particular challenges that are important to think about before you choose the programme. How well do these challenges correspond to the sort of person you are, how you like to work and the things you are good at?
Competitive study environment:
Many students experience the study environment at BSc IB as quite competitive. Certainly, students tend to focus on their results and achievements in the programme as well as in other areas of their lives. It may be a good idea to consider if you would thrive and feel comfortable in such an environment.
Focus on global markets and business strategy:
The main focus in BSc IB is on global markets and business strategy. There are also courses that deal with the economic side of business such as finance and accounting but they are not as central in the programme. If it is the quantitative aspects of business that interest you the most and you see yourself pursuing a master’s programme within e.g. finance then other programmes may prepare you better.
Quarter structure
BSc IB has a so-called “quarter structure” where you follow two courses for about six weeks before taking your exams in those two courses. Each year of study is divided into four such quarters. Some students enjoy this way of working as it allows them to focus on only two courses and two exams at a time. Others find it challenging because it means that you need to keep up your study discipline all the time and if you have just a couple of weeks where you are not very productive it can be challenging to catch up.
International study environment
Even though the programme has a very international focus the share of international students is usually not as high as in the other CBS programmes taught in English. This is worth thinking about if an international study environment is an important factor in your choice of study.
Maths as a tool:
In about half of the mandatory courses in BSc IB you will use maths as a tool. You will not use maths that is complicated beyond the entry requirement for the programme, but you need to be comfortable having courses where you use maths and do calculations at a practical level.
Studying in English
If you are not used to studying in English or if you are not a native speaker, we recommend that you read more about what to consider before applying for an English-taught programme.
See Studying in English on Student Life
Hear a student guidance councellor share some challenges and considerations you should be aware of before applying to BSc IB.
Competencies after BSc IB
The programme will give you:
• a broad understanding of how international/global companies operate
• how international/global companies develop and adapt their business strategies in complex and ever-changing global markets.
You can find more information about what you learn on the programme in the Competence profile for IB
Master's programme after BSc IB
The clear majority of students from BSc IB continue to a two-years master’s programme for a total of five years of study. It is very much the master’s rather than the bachelor programme that determines which career paths that lay open to you.
Most BSc IB graduates tend to end up in larger companies with an international profile – but they work within many different fields of business administration. Read more about master’s programmes and career options.
Hear a student guidance counsellor give insights to how you can create your own profile as well as share thoughts on career options and master's programmes.
English - language requirement | A |
English - specific entry requirement | B with min. 6.0 grade average (Danish scale) |
Mathematics | B |
Social Studies OR International Economics OR History of Ideas OR Contemporary History | B |
Motivational essay | Yes - See Selection quotas |
Read about entry requirements and how to apply at bachelor admission.
Grade point average | 11.1 |
Number of enrolled students | 213 |
Quota 1 / Quota 2 | 60% / 40% |
Applicants (quota 2) | 2173 (1986) |
Foreign students | 31% |
Gender distribution - men / women | 66% / 34% |
Average age | 21,6 year |
Overview of courses
Statistics
The major goal of the statistics course is to produce statistically educated students which mean that students should develop statistical literacy and the ability to think and reason statistically.
Statistics is a valuable tool in the practical application of every other science. Emphasis is on interpretation and understanding of simple statistical methods as applied in business, economics, different types of companies or institutions and industries.
The topics of the curriculum are:
a)The basic laws of probability and the most important probability distributions.
b) Descriptive statistics, both numerical and graphical.
c) Statistical inference; estimators, confidence intervals and significance tests of hypotheses.
d) One and two sample tests for means and proportions; paired and unpaired data.
e) Analysis of association using contingency tables and correlation.
f) Regression analysis; simple, multiple, logistic.
g) One-way and two-way analysis of variance, analysis of covariance.
Learning Objectives
The goal is to enable the students to interpret, understand and apply basic statistical concepts as they apply in scientific research as well as in everyday life. The students will become familiar with basic probability theory as a model for randomness, concepts of statistical inference as well as a number of concrete estimators, confidence intervals and test. Statistical software will be introduced. At the completion of this course the students will be able to:
- Identify key theories, models and concepts of probability and statistics.
- Use graphical and numerical methods for exploring and summarizing data
- Describe basic probability and how probability helps us understand randomness in our lives, as well as grasp the crucial concept of a sampling distribution and how it relates to inference methods.
- Choose and justify appropriate descriptive and inferential methods for examining and analyzing data and drawing conclusions.
- Analysis of the association between categorical, discrete, and continuous variables, using contingency tables, correlation, regressions, and analysis of variance.
- Communicate the conclusions of statistical analysis clearly and effectively, i.e identify connections between basic statistics and the real world.
ECTS
7.5
Macroeconomics
This course offers an introduction to macroeconomic analysis. This includes the theory of output and interest rate determination; the relationship between goods and financial markets; the relationship between employment and inflation; the role of fiscal and monetary policy; and, not least, international economic relations.
In this course, we will relate macroeconomics models to real-life events. This will help us understand the current debates about, for example, the key monetary policy arrangements and inflation targeting in the Eurozone, the conduct of fiscal policy and the debates over government debts in the EU, the choice of exchange rate regimes (and, in particuler, the implications of the fixed echange rate policy conducted in Denmark).
Why do economies expand sometimes, raising employment and living standards, and shrink at other times? What is a recession? What happened in 2008–09 when the world economy was hit by the worst recession since the Great Depression of the 1930s? How do we explain the high inflation rate that we currently observe?
More generally, which shocks affect macroeconomic activity? How do these shocks affect output, employment, investment, or consumption? Can government policies make economies grow or stop them from shrinking? Is there anything we can do to reduce inflation? Are these policy responses effective?
These are some of the central questions that fascinate macroeconomists. If you are curious about how macroeconomists look at the world around them, how they model it, and how this helps answering the questions you just read, then this is the course for you.
Learning Objectives
After ending the course, the students should be able to:
- Explain basic macroeconomic terminology (e.g. "growth", "recession", "natural unemployment", etc.) in a comprehensive way.
- Describe and explain the assumptions and mechanisms of the main macroeconomic models (e.g. the IS-LM model in closed and open economy, the IS-LM-PC model). Illustrate these models graphically and solve them algebraically.
- Describe how GDP is determined in the short and medium run. Explain how GDP is affected by shocks.
- Describe the main determinants of other important macroeconomic variables such as inflation, unemployment, real wage, interest rate, etc. Explain how these macroeconomic variables are affected by shocks.
- Explain the Phillips curve and discuss the relation between unemployment, output, and inflation.
- Perform policy experiments (e.g., changes in government spendings or changes in money supply). Interpret the mechanisms verbally and graphically, and solve algebraically.
- Explain how these policies are impacted by openness to trade and financial flows.
ECTS
7.5
International Economics
This course offers a detailed introduction to international economics. We study several trade theories with the goal of explaining why international trade takes place, what are the benefits of international trade, and in what patterns countries trade with each other. We also study trade policy tools and their implications for market equilibrium (prices and quantities), social welfare (gross national product) and the distribution of welfare (inequality).
Learning Objectives
After having attended the course the students should be able to:
- Explain basic concepts in International Economics in a comprehensive and intuitive way
- Describe and rationalize the main assumptions behind trade models.
- Perform policy experiments based on trade models.
- Illustrate diagrammatically these models and perform analysis of patterns of trade, gains from trade and redistributive effects of trade
- • Solve algebraically simple trade models in order to determine the equilibrium economic variables.
ECTS
7.5
Corporate Finance
This is an introductory course in finance focusing on corporate applications in the international environment. It covers the basic theories of interest rates, valuation of streams of cash flows, pricing of risk, and it draws practical implications for capital structure, project valuation, financing, and risk management.
More specifically, the course contains a basic introduction to topics such as:
- The main characteristics of corporations
- The relationship between accounting information and the information analysed in corporate finance
- Interest rates and the time value of money
- The valuation of bonds and stocks
- The investment decision
- The financing decision including capital structure theory and the cost of capital
- Payout policy
- Mergers and acquisitions
- International financial mangement and capital budgeting
- Financial and real options
- Risk management
Thereby, the course reflects the BSc IB program learning goals in the following way:
Practical Application of Theory
The course includes many exercises and cases illustrating the practical application of theory. In particular, this is achieved both through lectures (illustrating practical applications) and assigned readings from The Economist.
Relation to a Business or an Institutional Setting
Several aspects of different types of financial markets are examined including public versus privately owned companies and various types of providers of capital (investors).
Relation to International Business or Economics
The international perspective is taken in connection with many of the topics covered during the course especially including mergers and acquisitions, financial management and capital budgeting, and risk management. Several examples are looking at multinational firms.
Research Based Teaching
The curriculum includes articles that summarize several research papers and ties such research to the practical use of the theoretic methodologies introduced in the course. Furthermore, evidence from several empirical studies is discussed during the course.
Learning Objectives
The student is expected to be able to
- Identify, explain and apply the core concepts, models and methods
- Calculate, interpret and compare financial statistics, prices, returns and costs
- Elaborate and present solutions for financial decision problems
ECTS
7.5
Electives / Exchange / Internship (30 ECTS)
In the 5th semester, you can take electives at CBS or other universities, go on exchange or do an internship in a company.
Bachelor Project
See teaching methods
Learning Objectives
- • The project must be written within the field of international business, which involves a cross-border, cross-cultural or comparative perspective.
- • The research question(s) must be rooted in the programme curriculum to date.
- • Students must display the ability to formulate and explain research questions
- • Students must select, combine, and apply relevant concepts and theories in relation to specified research questions, and be prepared to justify the choices made.
- • Students must adopt and use relevant methods to answer such research questions and be prepared to justify the choices made
- • Students must display the ability to coherently formulate and present (in writing and orally) well-argued arguments about development of and answers to the research question(s) posed, making use of the chosen theories, methodology and data.
- • Students must critically reflect on all the choices made as well as the quality of the answers produced.
ECTS
15
Microeconomics
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This course provides an introduction to the functioning of economic markets: it describes what lies behind the notions of demand and supply. Emphasis is placed on the behavioural assumptions that generate demand for particular products, and on whether the producers of a particular product compete in a perfect or an imperfect way. We also explore important extensions to the basic model such as uncertainty and symmetric information. The main blocks of the curriculum are:
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Description of the teaching methods |
There are 42 lecturing hours. These hours will be devoted to covering the material in the textbook by traditional lectures and discussion in the class. There are also 12 exercises hours that will be used for doing exercises and applications with the aim of providing students an opportunity to practice the more applied aspects of the class. In case that your mathematical skills (level B) are not recent, please make sure to attend the 12 Math brush-up course hours that the IB (dates and classes will be announced in due time). |
Learning Objectives
After having followed the course the students should be able to:
- Understand and apply conceptually and analytically the basic concepts of microeconomics (e.g., the fundamental concepts in consumer theory, producer theory, game theory, and the theory of markets)
- Describe and rationalise the main assumptions behind simple economic models and analyze the role that those assumptions play.
- Use economic models graphically (diagrammatically) to analyze the effects of policy experiments (e.g. introducing taxes).
- Derive numerically economic instruments and apply them in analytical settings (e.g., find a price elasticity and use it to predict a change in demand).
- Analytically solve simple microeconomic problems (e.g., utility maximisation, profit maximisation, determination of equilibrium economic variables) and interpret these solutions.
- Use economic analysis to explain topical policy issues (e.g., How to reduce carbon emissions?).
ECTS
7.5
Industrial Organisational Analysis
The students should get an introduction to industrial organization. They should understand the basic microeconomic models of industrial organization, such as monopoly theory and oligopoly theory and their underlying intuitions. They should get acquainted with some basic concepts of game theory and with theories that explain collusive behaviour, product differentiation, market entry and exit, and the development of markets over time. They should also learn to know empirical regularities around these issues and empirical approaches which try to identify market structure and the level of market power in industries.
The theories and empirical approaches will be covered in class and should be used by the students to analyse the market structure, the type of competition, the level of market power and the strategies that firms use to maintain their market power in real world industries from potentially all parts of the world. In addition the main features of the anti-trust policies in Europe and in the US will be discussed.
The taught theory will be practically applied when discussing small cases in class. The course is related to a business and/or an institutional setting because the small cases are related to specific firms and the students will be introduced into the workings of the anti-trust authorities in the US, the EU and Denmark. The course is also related to international business and/or economics since the small cases focus on global strategies of multi-national firms, on global markets and on national markets in different countries.
Learning Objectives
After having attended the course the students should be able
- to explain and analyze theoretical microeconomic models of firm behavior and market equilibrium.
- to analyze real world market situations using the theoretical models covered in the course.
- to model a strategic situation facing a firm using game theory and use this to devise a consistent and coherent strategy
- to explain how competition policy, regulations, and other market interventions affect market outcomes.
ECTS
7.5
Financial Accounting
- Accounting as a form of communication
- Financial statements and Annual Reports
- Double-entry bookkeeping
- Cash basis and accrual basis of accounting
- Inventories and Cost of Goods Sold
- Cash, receivables and short term investments
- Fixed Assets (Tangible & Intangible)
- Goodwill
- Current Liabilities, Present Value, and Long-term liabilities
- Shareholders’ Equity
- Cash Flow Statements
- Financial Statement Analysis
Course aim:
Students learn to develop their understanding of financial accounting via reference to practical examples, exercises and mini-cases.
Relation to a Business or an Institutional Setting: Class discussions are focused around multinational companies in different industries – both European and US. The course textbook has many good examples from US business life, which will be contrasted against their European peers.
Relation to International Business or Economics: The core theme of the course is the financial accounting within multinational corporations.
Learning Objectives
After having completed the course students should be able to:
- Read, understand and examine the data in an annual report.
- Fully comprehend the difference between cash and accrual accounting.
- Prepare financial statements from the source data based on accounting transactions.
- Understand the critical role of ethics in providing decision useful accounting information.
- Develop financial ratios for a company and analyze the information content of these measures to make sound business decisions.
ECTS
7.5
Global Strategy, Technology and Innovation
Course Content, Structure and Pedagogical Approach |
This course focuses on strategic aspects of managing global innovation, technology and R&D. We will address this from four internal perspectives:
In addition, we will also address the following MNC-external themes:
We will address these interwoven themes and perspectives through a series of interactive lectures, case discussions, and workshops. |
Learning Objectives
to be announced
- Identify opportunities and benefits from global R&D, technology, and innovation
- Identify and mitigate the challenges and risks from engaging in transnational innovation in the context of MNC strategy formulation and implementation
- Develop global innovation and technology strategies for internationally operating firms
- Assess effectiveness of high-level operational plans for leading dispersed innovation efforts and projects globally
- Incorporate general IB and strategy skills into the management of global innovation
ECTS
7.5
Contemporary Issues in International Business
The aim of the course is to explore and develop nuanced understandings of a range of contemporary issues and debates in International Business, and further develop the skills that will enable lifelong learning. To this end, emphasis is placed on ‘problematizing’ current understandings of contemporary issues in international business by placing them in their historical context, tracing the evolution of knowledge, and questioning taken-for-granted assumptions that inform current theory and business practice. Sources of contemporary issues include debates in the academic literature alongside current events in business and society. A focus on contemporary issues means that specific topics covered will vary over time. Nonetheless, indicative issues include: How do crises – such as global pandemics or financial crises – shape the location decisions of multinational enterprises and re-shape core IB theory? What are the implications of using English as a ‘lingua franca’ for relationships of power and the management of diversity within MNEs? How can innovative small firms shape international institutions for competitive advantage, or is this solely the domain of government and large MNEs? How do MNEs foster – and destroy – subsidiary initiatives and local entrepreneurship? In what ways do MNEs advance or detract from the United Nations’ sustainable development goals, such as ‘reduce inequality’ and ‘economic growth’? The exploration of these and similar questions will draw on the latest academic literature and case studies of international businesses. Students will be expected to make connections across contemporary issues and revisit prior learning with new understanding
Learning Objectives
- • Critically analyse a range of contemporary issues and debates in International Business from practical, theoretical, and methodological perspectives
- • Assess the immediate and broader implications of these issues and debates in International Business – including connections between them – for research, organizations, and society
- • Propose alternative courses of action across the domains of research, business practice and/or policy making that reflect socially responsible and ethical practices
- • Demonstrate the reflective and collaborative capabilities that are essential to support one’s own and other’s life-long learning, especially in the context of the ambiguity typically inherent in international business and professional life
ECTS
7.5
International Business Environment
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Course Content The aim of the course is to provide an integrated understanding of the complexity of the international business environment and the challenges it poses for firms engaged in cross-border activities. Emphasis is put on highlighting the differences among countries and/or regions in terms of their national/sub-national business environments, and how these differences are linked to the various strategic choices that firms adopt to compete internationally. By the end of the course students should have developed their ability to explain, interpret, and synthesize international business practices in a multidisciplinary discourse. Both theory and cases are included in the curriculum, with much of the empirical material will be drawn from recent examples of developments in the field of international business. |
The main blocks of the curriculum are:
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Learning Objectives
After having followed the course the students should be able to:
- • Explain the differences in national or regional business environments and assess why they exist and how they impact international business operations
- • Present a thorough review of the economics and politics of the international trade and investment environment
- • Assess the important role played by multinational economic and social aid organizations such as the UN, EU, IMF, and the World Bank in facilitating international trade and business.
- • Analyze the strategies and structures of international businesses
- Assess the functions of an international business.
- • Highlight the adjustments needed in the transition from domestic to international business, and the adjustments needed to operate successfully in specific foreign markets
- • Assess business operations and relationships in complex international business environments.
ECTS
7.5
Principles of International Marketing
This is the core marketing class in the BSc IB program. The course gives an overview of the marketing activities of companies operating in international markets. The course will cover a broad range of areas withing the realm of international marketing, such as consumers' attitudes and emotions, role of culture, market segmentation and selection, marketing research, global product and brand management, images and biases in international marketing, marketing services and the experience economy.
The basic course goal is to provide a comprehensive and research-based overview of the basic principles of international marketing.
The course is structured as follows and makes use of the following pedagogical elements and activities.
- Lectures: Both face-to-face and online lectures during which key theories, models and opinions are introduced and discussed, supported by examples from actual companies operating in the global marketplace
- Exercises: The course content taught in the lectures is deepened and extended through exercises that take place once a week. These exercises allow students to learn working with and applying theories and concepts.
- Q&A: Students have the opportunity to send any content-relalted question to the teachers. These questions will be tackled and answered in a weekly Q&A session on Canvas.
- Workshop Sessions: This course makes use of two workshop sessions. Students are asked to prepare and submit an assignment, as well as provide feedback on two other assignments. The workshops use an online peer-review platform and serve as a direct preparation for the exam. During the workshop sessions, students will write, submit and provide feedback on an academic assignment.
The course concludes with an exam preparation lecture during which students have another opportunity to ask questions and receive feedback. |
Learning Objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors. The specific learning objectives of the course are the following:
- Be able to describe and discuss, in your own words, the various concepts, theories and models in international marketing
- Be able to present a clear and coherent argument for your choice of relevant theories and models
- Be able to apply the concepts, theories and models introduced in this course to identify, analyze and explain challenges, company decisions and strategies, as well as consumer behavior in international marketing
- Be able to critically assess the value and relevance of models, concepts and theories presented throughout the course
- Be able to identify and discuss practical implications and limitations of applying specific theories, models, and concepts from the course
- To follow academic conventions relevant in sociel sciences in the written presentation
ECTS
7.5
Organisational Behaviour
Course Goal and Objectives
The course aims to teach students how organizations work based on organization and management scholarship.
The objectives are that students will: 1) develop an ability to identify, analyze, and discuss important aspects of work behavior through an organizational perspective; and 2) apply theories from the course to competently solve problems, manage continuity and change, and be more effective leaders and managers, especially in an international scale.
Course Content
The course will focus on the crucial elements of organizations (e.g., organization structure and culture) and how they relate to work behavior and management goals (e.g., knowledge, change, and social responsibility). We will examine these topics across sectors and types of organizations with particular attention to the global business environment and the Nordic Nine capabilities. The course is anchored on organization theory literature complemented by insights from cutting-edge research by course lecturers and current media debates about organizations.
Pedagogical Approach
The course follows an approach that emphasizes the development of critical thinking among students through the continuous application of concepts and discussion about their premises and relevance across contexts.
Learning Objectives
After taking this course, students should be able to:
- Demonstrate a critical understanding of concepts, models, and theories from organizational scholarship, including their premises, interconnections, and relevance for comprehending work and management
- Identify challenges related to work and management through an organizational perspective
- Conduct an organizational analysis based on the course content from its latest edition
- Formulate effective organizational recommendations to work and management challenges
- Present written discussion, analysis, and recommendations based on organizational scholarship in an essay format reflective of academic conventions
ECTS
7.5
Global Supply Chain Management
Supply Chain Management and modern business logistics provide theoretical as well as practical approaches for direct or indirect value creation by improving performance and/or reducing costs. Key is the alignment, configuration, integration and coordination of flows across manufacturers, retailers, and logistics service providers that are involved in such chains. This means that the institutional setting of a single firm and its business functions as well as the context and environment of the supply chain as a whole needs to be taken into account. Using mini-cases and company cases, the course is designed to reflect and to illustrate in different modules these different perspectives of whole supply chains as well as that of the involved single actor’s and respective that of single business functions like sourcing, production, or distribution. The course thus provides a basic understanding on theory and conceptions of modern business logistics and Supply Chain Management and helps to understand the different institutional settings of a total supply chain view as well as that on the single actors and their company functions.
Further on, globalization implies both globalization of operations (e.g. sourcing, production and logistics) and that of consumption. Customers and suppliers in one country are different from those in another, just as transport, inventory, warehousing, distribution and communication systems differ to cater to specific business environments. Since the scope of supply chain management spans the entire set of organizations from procurement of materials and components to delivery of finished products to the end consumer, it poses additional complexity in the form of extended supply chains where, for example, a company develops a new product in the United States, sources and manufactures it in Asia, and distributes and markets it in the US, Asia and Europe. Therefore, setting up and managing international or global supply chains means that sourcing, production and distribution have to consider differences and similarities between various markets to set up synergized transport, inventory, warehousing, distribution, and communication systems. The course will take especially the logistics and supply chain challenges that result from such global environments into account.
The course built first on the basic theoretical fundaments of modern logistics and supply chain management, such as systems thinking, flow thinking, integration as well as other concepts that are adapted for logistics and Supply Chain Management issues. Across the views of different involved actors, students learn to apply these theoretical building blocks on different levels of description and analysis, for instance by applying arguments for different types of global supply chain designs and strategies, information sharing initiatives in the chain, or selecting distribution and transportation networks. Beyond the theoretical background provided in the introductory sessions, the course emphasizes on the ‘how to’ aspects of global supply chain management. Each session therefore strives on creating a toolbox for the students that may be applied in future practical settings, for dealing with basic supply chain management issues such as ‘partnerships’, ‘information sharing’, and ‘supplier selection’.
The course includes case-based and mini-case-based application of key theoretical and operational concepts in order to understand the global supply chain management practices of leading companies such as Ford, Procter & Gamble, Metro, Tesco, or Toyota. Finally, this course has also been designed keeping in mind the faculty’s research competence in the field of global supply chain management. Problem settings and examples of past and current research projects will be applied to illustrate theories, specific context and related supply chain challenges. Where appropriate additionally guest speakers will be invited to support the distinct perspectives or to relate their research to the management of global supply chains. Guest lectures in the past have included themes such as ‘product and process innovation’, and ‘Efficient Consumer Response’ in the global supply chain. Future guests might speak about “Globalization of Retailing Supply Chains”, or “RfID Applications in global Supply Chains”.
Learning Objectives
Key objective of the course is to introduce students into the business challenges and solutions of supply chain management and modern business logistics in a global environment. Students should learn to identify and analyze specific basic and global supply chain management problems and relate it to theories, methods, and justifiable solutions. For the application and discussion of solutions they should acquire knowledge on concepts, structures, tools and processes, which are necessary for the management of global supply chains as well as on their application context of global supply chain management issues. Finally the students should learn to demonstrate the use of “flow thinking” and SCM terminology that is central to this course. Upon course completion students should be able to: Identify management issues, both physical & technical and managerial & behavioral, in global supply chains and logistics operations and relate them to key theories, models and concepts of supply chain management and modern business logistics. Outline ways of factoring complexity in business situations arising from international business and inter-organizational relationships in operations like logistics, sourcing, and production Apply basic theoretical ideas and concepts by using taught methods such as mapping global supply chains in terms of flows and scope and demonstrating comprehension of SCM concepts and terminology Distinguish challenges in global procurement, production and logistics issues and analyze, both qualitatively and quantitatively, basic trade-offs such as global supplier, site and transport mode selection. Students shall be assessed against these learning objectives of the course. To gain the highest grade in the exam, students must be able to select and recall basic appropriate models and concepts from the curriculum and present them in a comprehensive and well-argued way that may also put their findings into new perspectives.
ECTS
7.5
International Business Strategy
This course introduces theories of international business strategy and demonstrates them through case studies. Its goal is to develop your ability to apply a holistic view to managerial issues in the international and multinational firms. We will delve into three areas that affect how companies function in the international environment.
Strategy. We'll review of basic concepts of strategy, focus on specific types of international strategy and explore international strategies available both to large MNCs and to small internationalizing companies.
Organization. Here we'll consider organizational issues that arise when formulating and implementing a strategy at the company, such as management of subsidiaries and transactions within the MNC.
Environment. MNCs are embedded in multiple environments, from their host countries to interorganizational networks they are a part of. We'll examine such environments and consider institutional theory, which provides a useful framework for this analysis.
Learning Objectives
Fully recall basic models and concepts from the curriculum and present them in a comprehensive, well-argued way. Furthermore, students must be able put their findings into new perspectives and apply theoretical constructs to suggest a strategy implementation plan for a company if needed. At the completion of this course, students will be able to: * Identify key theories, models and concepts of international strategic business and management, * Debate relevant measurements for strategic analysis, * Analyze complex international business situations, and * Develop coherent strategies for headquarters and subsidiaries of multinational companies
ECTS
7.5
Founder's Dilemmas: Anticipate and Avoid Startup Pitfalls
Within high-potential ventures, the biggest source of failure is “people problems”: the tensions among the founders, or between the founders and the non-founders who join them. In this course, we will examine critical dilemmas that span the lifecycle of a venture, regarding the choice of cofounders and hires, splitting the roles and equity within the team, whether and how to involve investors, why and how founders are replaced, and exit dilemmas.
With each decision, we will delve into the potential pitfalls that exist and the ways to anticipate and avoid those pitfalls. Through experiential exercises, we will develop your skills at dealing with a variety of difficult conversations and negotiations that you might face within your startups. From the discussion of case studies that focus on the founders of high-potential startups, we will develop frameworks to guide your decision making.
To provide greater context and understanding of these founding dilemmas, we will tap statistics gleaned from a dataset on 15,000 founders over the last two decades and discuss how different national contexts and institutional environments affect founder’s choices. We will pay special attention to the differences between the US and Europe, and explore how strategies differ and which pitfalls emerge when startups move from one national environment to another.
This course is for students who plan to become involved in new ventures. This involvement can occur in any of the following ways:
- As founders of a new venture, now or at mid-career
- As early hires, early advisors, or board members in new ventures
- As potential investors (e.g., venture capitalists), customers, partners, or acquirers of new ventures
The course is designed to help these potential founders, hires, and investors prepare for the decisions they will face both before and during their involvement with new ventures.
Learning Objectives
After having completed the course the students should be able to:
- Identify which early people decisions can cause problems for founders and their startups.
- Describe the tradeoffs of involving cofounders, hires, investors, and board members in startups and apply appropriate frameworks to analyze them systematically.
- Compare and contrast how different institutional environments shape the dilemmas founders are likely to face.
- Analyze the external and internal factors that heighten the chances that a founding team will splinter or that founders will lose their positions as CEOs of startups.
- Reflect on their own motivations for becoming involved in startups and understand how those should affect their founding decisions throughout the lifecycle of the startup.
ECTS
7,5
Corporate Governance
Corporate governance concerns the way firms are directed and controlled. The regulatory backlash caused by corporate scandals and the financial crisis, as well as growing public and media pressure on companies to act in a ‘socially responsible’ way, have put stakeholder engagement on top of the corporate agenda. Regardless of international business managers’ individual philosophical stance on what the role of business in society should be, these pressures cannot go unmanaged and need to be addressed in a strategic manner. A thorough understanding of the corporate governance demands companies face today is therefore a necessary prerequisite in any international business function.
This course gives an introduction to the theoretical foundations of corporate governance, develops awareness of associated practical problems, and provides an overlook of governance systems around the world. The intertwine of legal, economic, political, and psychological factors affecting how firms and markets are run and controlled creates complexity and challenges our ability to state and solve problems practically as well as intellectually. The course provides students with a toolbox and skills for evaluating firms from a governance point of view.
Learning Objectives
By the end of the course, students should be able to critically evaluate selected theories within the fields of corporate governance, corporate social responsibility, and business ethics, as well as discuss how these frameworks can be applied to concrete business situations:
- Explain, combine and analytically discuss the theories, frameworks, models and concepts presented in the course.
- Critically discuss the role of business in society, in the context of globalised markets and internationally active firms.
- Identify business challenges and opportunities arising from internal corporate governance challenges and external stakeholder pressures.
- Using the concepts and frameworks discussed in the course, sketch responses to these challenges and opportunities, and reason why those responses would pass the “good business ethics” test of critical observers.
ECTS
7.5
Business Research Methodology
The first part of the course provides an introduction to basic epistemological issues in the philosophy of science, as they apply to social science research generally and to research in international business specifically. This understanding will be used to describe, discuss and evaluate common approaches and methodologies in international business research. Models, theories and empirical research on central topics in international business research provide focal examples for this discussion
The second part of the course focuses on the selection, design and critical evaluation of basic methodologies and techniques in international business research, and on the tools and conventions of reporting such research.
Learning Objectives
On completion of the course, students should be able to:
- demonstrate a basic understanding of the epistemological assumptions commonly applied in contemporary social science research, especially in the area of international business
- describe the nature and historical evolution of international business as a multi-disciplinary field of research
- evaluate in terms of their reliability and validity, the choice and implementation of research methodologies in international business research
- independently apply basic methodologies in such research, including (1) the selection and critical evaluation of secondary sources and (2) methods, and techniques for the collection of primary data, such as interviews, questionnaires, text analysis, and methods of direct observation.
- competently apply basic tools and conventions in social scientific research, including the structuring and writing of research reports, referencing, use of tables and diagrams, bibliographic search techniques, etc.
ECTS
7,5
Risk Management of Multinational Enterprise: Creating Global Strategic Responsiveness
The course will discuss different financial, economic, operational, and strategic exposures faced by multinational organizations engaged in global business activities and considers how the underlying exposures and risk events can be managed. The risk management topic is perceived from different functional perspectives including international financial management, insurance, management accounting, global value-chain management and multinational corporate strategy. A number of formal risk management frameworks and standards designed to address identifiable risks are discussed. These approaches are extended to also consider the ability to deal with uncertainty and unexpected events. There is further considerations of effects imposed by core values and responsible multinational management.
Conventional risk management techniques are introduced from different academic disciplines, such as, financial economics, accounting, operations management, organizational behaviour, cognitive psychology and international business strategy. The course will integrate diverse contributions to better understand the multifaceted underpinnings of the field including formal Enterprise Risk Management (ERM) frameworks and more unconventional perspectives of High Reliability Organizations (HROs) and strategic risk-taking approaches.
The course will introduce conventional views on risk management from articles, book chapters, reports, and selective case studies but will also extend the scope towards effective management of unpredictable events in the turbulent global business environment.
Learning Objectives
Learning objectives – after completing the course students should be able to:
- Characterize and describe the global risk environment of the firm
- Identify, measure and monitor multinational financial and economic exposures
- Analyze alternative hedging strategies to deal with financial and economic exposures
- Identify fundamental operational and strategic risk exposures and assess their potential effects in future global business scenarios
- Assess alternative ways to deal with operational and strategic risks under uncertain and unpredictable global market conditions
- Consider proper governance of the risk management process in a multinational enterprise that operates across turbulent global markets
- Determine accepted principles of professional business conduct considering broader stakeholder concerns and societal issues
- Understand the role of ethics and corporate values related to responsible business practices
ECTS
7.5