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International Management

Course developer

Course abstract

During the study course, students acquire in-depth specialized knowledge of the nature, functions, systems and strategic management of corporate governance in institutions and companies. The topics included in the course provide regulatory framework at national and international level as well as nuanced knowledge of the elements of the corporate governance system, their tasks for the successful functioning of the organization, as well as internal and external risk factors, their causes and the synergy of the corporate governance system with strategic management of sustainable development. After completing the study course, students will be able to define the goals of corporate governance, implement their direction and strategic management.

Learning outcomes and their assessment

1. In-depth knowledge of the corporate governance system and its role at the micro, macro level and in the context of sustainable economic development. Professional knowledge of the specifics of corporate governance regulations at the national and international level. Test.
2. Skills to independently analyse the corporate governance system, its elements, problem areas and their causes. Professional skills for solving corporate governance problems in the company, developing a plan of activities appropriate to a particular company. Practical works.

3. Competence in the development and presentation of a corporate governance system implementation project to a specific company target audience. Independent work, presentation.

Course Content(Calendar)

1. The concept and essence of the international management. Stages of the international management process: formulation, implementation, control of the international strategy. The problem of instability in the international business environment and the ability of companies to adapt to it by making complex decisions. Financial and non-financial benefits of companies from goal-oriented and planned development of international business functions. (2h)
2. Formulation of mission and vision for the company's operation in a new foreign market. The guidelines for formulating a mission focused on the company's values and customer needs. Formulation of the company's vision, envisaging competitive growth of the company, which corresponds to the latest technological and market development trends. (2h)
3. Assessment of international environmental factors at the macro and meso and micro levels. The problems of macroeconomic and geopolitical instability of countries, challenges of technological development, intensification of global competition. Porter's 5 competitive forces model versus Burton's 5 collaborative forces model. International business information sources for forecasting the attractiveness of the target market, ICT tools for assessing export potential.
M. Porter's national diamond model for a comprehensive assessment of the international competitiveness of industries. (2h)
4. Cultural differences in the international business environment. The framework and practical application of G. Hofstede's culture classification model. The creation of product logistics chain, adaptation of products to specific market needs. ICT tools for cultural analysis. (2h)
5. Evaluation of the readiness of the company's internal environmental factors for starting an international business. Compliance of material resources and human resources capacity with the specifics of external market operation. Compliance of the company's business philosophy and values with the cultural environment of the target market. Compliance of the company's products with the needs of consumers in foreign markets. Integrating current issues of the digital economy and research and development (R&D) into the international management strategy. (1h)
6. Implementation of international management functions. Creation of the company's value chain and goal-oriented improvement of its stages. Vertically and horizontally integrated companies: indications for cooperation, advantages, disadvantages. Strategic alliances, licensing, joint ventures, franchise format companies. Mergers and acquisitions. Ensuring international marketing activities: product portfolio management, balancing elements of the marketing mix in accordance with foreign market conditions. The management of international logistics chain: management of resources, actual distribution, business logistics, e-commerce. (2h)

7. Evaluation and control of international management functions. Financial and non-financial indicators of international management performance: profitability, profit, market share, employee satisfaction, customer loyalty and satisfaction. ICT tools for data acquisition and analysis. (1h)

Requirements for awarding credit points

The proportion of the total average assessment for student’s work for the test, independent work, practical work with calculations and exam work must reach at least 40%.

Description of the organization and tasks of students’ independent work

1. Test on the theoretical aspects of international management. (1h)
2. Research of the laws and normative enactments of the EU and the Republic of Latvia, which directly determine and regulate the relations of market participants (Competition Law, Advertising Law). Research of different sources of law in the world (Civil law, Anglo-Saxon law, Sharia law, Customary law). (2h)
3. Evaluation of the global competitiveness: the pillars of the Global Competitiveness Index of the World Economic Forum and their components - assessing countries' performance. (2h)
4. Assessing the business environment of global regions and individual countries: Using the World Bank's Worldwide Governance Indicators and interactive tools to compare governance indicators. Research of the World Bank "Doing business" reports, analysis of results. (2h)
5. Evaluation of the cultural differences of the target market according to G. Hofstede's culture classification model and the company's ability to adapt to them by using the ICT tool “Hofstede Insights. (1h)

6. Exploration of current issues of export skills, experience of Latvian companies in starting export activities: LIAA export promotion and support opportunities, LIAA representative offices abroad, European Business Support Network - study tour and / or attendance of a seminar on export issues. (4h)

Criteria for Evaluating Learning Outcomes

10% corresponds to one point on the 10-point assessment scale. Weight distribution: test - 10%; independent work - 20%; practical work with calculations - business project - 20%; research of the problem of international management and presentation of results at the exam - 50%.

Compulsory reading

1. Lenssen G. G.,Smith N. C., Editors. Managing Sustainable Business: An Executive Education Case and Textbook, 2019. E-grāmata, pieejama tiešsaistē: https://pb1lib.org/book/3577941/7b3c90.
2. Santos J., H. D.e A. International Business Strategy. Oakville, ON: Society Publishing, 2019. E-grāmata, pieejama tiešsaistē bibliotēkas datubāzē eBook Academic Collection (EBSCOhost) ar LLU lietotājkontu: https://search-ebscohost-com.ezproxy.llu.lv/login.aspx?direct=true&db=e000xww&AN=2014147&site=ehost-live&scope=site
https://web.s.ebscohost.com/ehost/detail/detail?vid=4&sid=6add4848-ac46-444b-9f91-4ed069b1f021%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#AN=2014147&db=nlebk.
3. Baaij M., Reinmoeller P. Mapping a Winning Strategy: Developing and Executing a Successful Strategy in Turbulent Markets, 2018. United King NorthAmerica: Emerald Publishing, 248 p.

4. Mooij M. Global Marketing and Advertising: Understanding Cultural Paradoxes. Thousand Oaks, CA: SagePub, 2019. 488 p.

Further reading

1. Albaum G., Duerr E., Josiassen A. International Marketing and Export Management.: Eight edition. Harlow, United Kingdom: Pearson, 2016. xxvi,715 p.
2. Bütüner H. Case Studies in Strategic Planning. Boca Raton: Taylor&Francis, 2020.
3. Competitiveness of Latvian enterprises in external markets = Latvijas uzņēmumu konkurētspēja ārējos tirgos. Redaktores Krūmiņa M., Zasova. Riga: The University of Latvia Press (UL Press), 2018. 240 lpp. Pieejams: http://www.sustinno.lv/userfiles/sustinno-gramata-B.pdf
4. Dersky H. International Management. Managing Across Borders and Cultures. Harlow, Pearson, 2014., pp. 407 p.
5. Kotler P., Kartajaya H., Setiawan I. Marketing 4.0 Moving from Traditional to Digital, 2016, (E-grāmata), pieejama: http://www.ebook777.com/marketing-4-0-moving-traditional-digital/
6. Larcker D., Tayan B. Corporate Governance Matters. 2nd Edition., Pearson Education, 2016., pp. 441 p.
7. David P. A. Pierre, A.D. International Logistics: The Management of Internationale Trade., 5th Edition. Cicero Books, LLC, 2017., pp 745 p.
8. Praude V. Menedžments. 1. grāmata, 3. izd. Rīga : Burtene, 2012.
9. Praude V. Menedžments. 2. grāmata, 3. izd. Rīga, Burtene, 2012.
10. Sviķis A. Matric tīklojums. Oriģināls biznesa pārvaldības modelis. Rīga: Apgāds Zvaigzne ABC, 2018.

11. Vietējo pārtikas ķēžu pārstrukturizēšana un noturības stiprināšana krīzes un pēckrīzes laikā Latvijā: zinātniska monogrāfija. Latvijas Lauksaimniecības universitāte, LLU APP Dārzkopības institūts. Jelgava: Latvijas Lauksaimniecības universitāte, 2021.

Periodicals and other sources

1. Dienas Bizness:, nedēļas laikraksts.: Latvijas biznesa avīze.
2. iBizness., Rīga: Izdevniecība iŽurnāli. Pieejams: https://ibizness.lv/

3. The Economist., London: Economist Newspaper Ltd. ISSN 0013-0613. Pieejams: http://www.economist.com/?sa_campaign=econsubs/europe/subspage/imglink.

Notes

Limited elective course in the specialization direction “Business and Logistics” of the ESAF academic master's study program “Economics”