Course Summary:

The current globalization of the economy is posing unprecedented opportunities and challenges for firms. How does a firm best structure itself to thrive in this new environment? How should it go about entering global markets? What sort of alliances with other foreign and domestic firms should it consider? This class begins with a series of modules that address important “big picture” issues: what are the major trends in globalization, where are they leading us, what might derail them, and what might firms do in response. It next moves into modules dealing with how successful firms structure themselves to handle their multinational activities, how they devise global strategies, how they decide when and where they need strategic partners with other firms. Finally, the course gives more attention to issues related to innovation and new product development for global markets.

Course Objective:

Students will reinforce their understanding of key concepts of strategy and marketing, and come to a better understanding of how these might be used to guide their firms as they expand into the global economy. They will develop a sense of:

1. How the student’s firm (and the student) can cope with broader changes in the global economy and the possibilities of disruptions in the world trade environment.
2. The major systemic differences between firms rooted in different economies, and how these shape the global strategies of these firms.
3. The alternative structures firms use as they expand into international markets.
4. The strategies for globalization being used by firms, and the underlying logics of these strategies.
5. Different approaches to entry into foreign markets.
6. The pros and cons of working with foreign partners in joint ventures and other forms of strategic alliances.
7. The new product development/innovation strategies that are being used by firms.