The course will examine international business from two perspectives: (1) The changing nature of international business as a result of recent evolution of globalization; (2) Business analysis and strategies for international expansion. The course will start with a focus on how the nature of the global economy has changed in the last two decades, and identify the consequences (positive and negative) for both international and domestic businesses. The focus will then change to the perspective of a business expanding beyond its home country, the strategies available to such a company, and the types of analysis and factors to be considered in determining the feasibility of such expansion. Both the risks and opportunities for international expansion will be explored, using a variety of different countries to illustrate risk/reward trade-offs involved in diverse settings. The wide range of factors affecting these trade-offs (financial, political, cultural, etc) will be discussed, in ways designed to build the student’s capability in analyzing these factors and coming to business conclusions. Students will have assignments related to the countries being visited, and a project of a subject they select, related to the course.
Field WorkCountry: South Africa
Day: 1 - Tuesday, 15 March
The South African wine “industry” has evolved since its introduction in 1652 and after a gestation period of four hundred and fifty years it has given birth to a global industry that spans a contentious history, diverse cultures, and emerging tastes. This field lab provides us an opportunity to meet with the senior management of Groot Constantia, one of the oldest wineries in South Africa, which has engaged in a business strategy of global expansion. Together, we will consider both the surface and subsurface issues and opportunities associated with the global wine industry, including consideration of the marketing, sustainability, and cultural issues associated with the production, processing, distribution, and consumption of wines from South Africa. This should be a phenomenal field trip where we will consider both the surface and subsurface considerations associated with the “terroir” of the South African wine industry.
1. Understand the current importance and economic/social role of the wine sector in South Africa;
2. Understand the opportunities and hurdles associated with international expansion;
3. Discuss the impact of climate change and sustainable practices for production and operations.