International Business Fundamentals - 12
This course provides an overview of the importance of international business and trade in the global economy and explores the factors that influence success in international markets. Students will learn about the techniques and strategies associated with marketing, distribution, and managing international business effectively. This course prepares students for postsecondary programs in business, including international business, marketing, and management.
Unit 1: The Need for International Business (40 hours)
This unit will focus on learning the basic terms, ideas, theories and activities within the context of international business. Students will learn about imports and exports and will be able to demonstrate how absolute, competitive and comparative advantages factor into international decision making. We will focus on Canada's history and current status in the international business community and how Canada is involved in international initiatives. Finally, we will look at the different barriers that countries, governments, organizations and businesses face in the wake of participating in international business.
Unit 2: The Global Economy and Environment (20 hours)
This unit will focus on Canadian business practices and how they change when businesses participate in international trade. You will further learn about how the global marketplace influences the domestic market and how this affects local employment. You will also discover the influential factors that businesses make use of when making decisions about entering and remaining in the international market.
Unit 3: Factors Affecting International Success
This unit will focus on the different factors and practices that help to contribute to success for international businesses. The focus of this unit will mainly be on the cultural factors that affect business practices and operations. By looking more closly at the political, economic and geographic environments in foreign countries, students will begin to assess the ways that these systems influence business decisions. Finally, students will be able to identify the common mistakes made by companies expanding into global markets.
Unit 4: International Marketing (10 hours)
This unit will focus on the different marketing strategies that companies employ when engaging in international business. Marketing involves all the processes in delivering a product/service to the end user. While many people automatically associate advertising with marketing, advertising really only is one component of what marketing is. Marketing involves numerous other activities that can include: product research, product development, product selection, defining distribution channels, pricing a product, branding, market research and much more. In this unit, you will familiarize yourself with all the different activities that businesses focus on when marketing internationally.
Unit 5: Working in Established Multinationals (20 hours)
This unit will focus on the challenges and opportunities that multinational companies and their employees face on a daily basis. When frequently dealing with foreign businesses and markets, a number of issues can arise. This unit will address issues such as differences in ethics, working conditions, environment, customs negotiations and other affairs that differ from country to country. We will end by taking a look at different organizations and policies that look after, protect and monitor the Canadian border to ensure that trade is being conducted legally and properly.