Mgf 2351 Week 1 Study Guide
MGF 2351 – Week 1
Introduction & The International Business Environment (Differences in Political Economy)
Unit objectives * Classify the key features and issues in the global environment in which international business takes place; * Explain the impact that the environment has on the internationalisation process of a business organisation; and * Demonstrate an understanding of the role of entry mode choice and other strategic issues in order to succeed in international business * Formal Lecture Content
• What is an “International Business”? – Any firm that engages in international trade or investment
– International business differs from domestic business for a variety of reasons: > National culture
> Political, economic, and …show more content…
USA, GB) * – Can be traced to the Greek philosopher, Aristotle (384- 322 BC), who argued that individual diversity and private owners hip are desirable > Individual economic and political freedoms are the ground rules on which a society should be based > Welfare of society best served by allowing the pursuit of individual economic-interest * – Implies democratic political systems and free market economies (i.e. Capitalism) * Political systems (cont.)
• Democracy
– “Government of the people, by the people, for the people”
- Abraham Lincoln (former US president)
Australia is a democracy * – A political system in which government is by the people, exercised either directly or through elected representatives
> Direct: Citizens directly involved in decision making
> Representative (most common form): Citizens elect individuals to represent them
Political systems (cont.)
• Democracy (cont.)
– Ideal criteria of a democratic
Introduction & The International Business Environment (Differences in Political Economy)
Unit objectives * Classify the key features and issues in the global environment in which international business takes place; * Explain the impact that the environment has on the internationalisation process of a business organisation; and * Demonstrate an understanding of the role of entry mode choice and other strategic issues in order to succeed in international business * Formal Lecture Content
• What is an “International Business”? – Any firm that engages in international trade or investment
– International business differs from domestic business for a variety of reasons: > National culture
> Political, economic, and …show more content…
USA, GB) * – Can be traced to the Greek philosopher, Aristotle (384- 322 BC), who argued that individual diversity and private owners hip are desirable > Individual economic and political freedoms are the ground rules on which a society should be based > Welfare of society best served by allowing the pursuit of individual economic-interest * – Implies democratic political systems and free market economies (i.e. Capitalism) * Political systems (cont.)
• Democracy
– “Government of the people, by the people, for the people”
- Abraham Lincoln (former US president)
Australia is a democracy * – A political system in which government is by the people, exercised either directly or through elected representatives
> Direct: Citizens directly involved in decision making
> Representative (most common form): Citizens elect individuals to represent them
Political systems (cont.)
• Democracy (cont.)
– Ideal criteria of a democratic