International Business Management (IB01)

Syllabus

INTERNATIONAL BUSINESS MANAGEMENT (BMB IB 01)
Unit 1: Introduction to International Business and Trade Theories: Nature, scope, and importance of international business, introduction to EPRG & LPG frameworks, major modes of market entry: exporting, joint ventures, FDI, licensing, wholly owned subsidiaries, theoretical foundations: classical and modern trade theories, Leontief paradox, PLC theory, national competitive advantage, and factor mobility theory.
Unit 2: Trade Policy & Commercial Instruments: Instruments of commercial policy: tariffs, quotas, subsidies, non-tariff barriers, economic multiplier effects (with numerical examples), trade protectionism, India’s foreign trade policy, make in India initiatives, LPG policy framework
Unit 3: Business Environment & Political Economy: International business environment analysis: PESTEL covering economic, political, cultural, technological factors, cultural dimensions: language, religion, communication styles in business contexts, political and legal frameworks: systems of governance, legal protection, IPR, and national risk factors. Latest updates and cases.
Unit 4: International Marketing : Introduction to International Marketing: Definition, scope and importance; Differences between domestic and international marketing; EPRG framework (Ethnocentric, Polycentric, Regiocentric, Geocentric); Environmental factors affecting international marketing – Political, Economic, Social, Cultural, Technological, Legal; Hofstede’s cultural dimensions and their impact on marketing decisions; International market research and segmentation; International product and pricing decisions. Latest updates and cases.
Unit 5: International Strategy, Institutions and Operations: Global business strategy: Standardization vs localization, international expansion strategies, including M&A, alliances, licensing, franchising, international marketing. Supply chain logistics management, use of Incoterms, role of trade promotion bodies in India (EXIM Bank, ECGC), global institutions and trade agreements: WTO, GATT, IMF, World Bank, TRIPS, TRIMS, GATS, regional economic blocs: EU, ASEAN, NAFTA, SAARC, emergence and strategies of multinational firms, Indian export promotion schemes and SEZ policies.