BUS114 GLOBAL ECONOMIESANDINTERNATIONAL MARKETSSession 1Global vs International MarketingMondays 9.30amonline synchronous classDr Alex Muresandralex@iconcollege.ac.ukWELCOME (BACK)…VIRTUALLY Please…• Switch off microphones• Switch off cameras• Make note of your questions for theQ&A session• Breaks• Plan B – should technology collapse ateither end – PPT slides have beenuploaded via MoodleThis session is recorded Award: BSc (Hons) Business &Management Level 6 Top-UpCourse Id: ICON001TOPUP 71st Semester Break Down(from your induction material) Semester One – Study Block 1Semester Two – Study Block 2• Crafting Your Future: Professional Practice• Global Economies and International Markets• Creative & Ethical Leadership• DataLab: Generation, Analysis,Iteration• Social Action Project Session Structure & Content• Getting to know you / me• Introduce the objectives and learning outcomes of the session• Establishing the module ground rules• Introducing the scheme of work (SOW)• Introducing the module specification (Top-Up course handbook)• Introducing the assessment brief & your deadlines• Explaining how formative feedback works in this module• Introducing the reading materials / library code of conduct during Covid19• Covering the Harvard Referencing system• Introducing some online support for this module• Global vs international marketing MODULE AIMSThe content of this module reflects the ever-morphing nature of the international tradingenvironment.In the first part of the module, you will explore the economic, political, social/cultural, andenvironmental drivers that impact international trade, and the different modes of entry intointernational markets. You will learn to formulate appropriate decisions in complex andunpredictable contexts in which data may be limited or contradictory.In the second part of the module, you will focus on the key practical issues linked to expandinga company into international markets. You will be introduced to research methodology and youwill be asked to put forward a research proposal examining the market, industry, or sector ofyour choice.Hopefully, you will find this module not just intellectually stimulating but also very informativeand useful to your future careers.The main module-specific employability skills are:• Self-management skills • Commercial skills • Research & analysis skills • Critical reflection skills•Project management skills.BUS114Introducing the SoW Five Step Model ICON College of Technology and ManagementGlobal Economies and International Markets Weekly PlannerWk 1StepsDescriptionExample Activity TypesTool that will suport this activity1Introduction (Informinglearners of the objective)Introduction of the concept of globalisation and how it has impacted lives today. Objectives:Recognise the process of globalisation Explain the drivers of globalisationDescribe the barriers to globalisationIdentify and evaluate the benefits and cost of globalisationRead Levitt’s article on Globalisation and onthe ICON VLE and summarise hisarguments in the Forum created for yourgroupICON VLE: Theodore Levitt (1983),The Globalisation of Markets.Published by Harvard BusinessReview. Also available at:https://hbr.org/1983/05/theglobalization-of-markets2Lectures and deliverymethodSession 1: Globalisation (global marketing contrasted with international marketing; Key drivers ofglobalisation; Key influences on the global marketing effort): Instructor-led with Q&A for studentsengagementPresentation, video on “Globalization at thecrossroads”Kaltura – My Media url to video.Lecture material on ICON VLE3ActivityGroup work on conducting a PESTEL analysis of a country of their choice, and for an organisation oftheir choiceGroup reports of PESTEL analyses of theirchosen countriesBreakout Rooms in Kaltura4Reflection and FeedbackIndividuals summarise the importance of environmental factors, which is part of their individualportfolioFeedback; Reflective journal – studentskeep a record of the results of the analysesfor the portfolio developmentICON VLE and Kaltura5Consolidation andIntegrationStudents share their summaries of the importance of environmental factors. These summaries areuploaded onto the ICON VLEStudents are divided into groups in breakoutroom to share their summaries of theimportance of environmental factors on anorganisation of their choiceKaltura and ICON VLE Introducing the Assessment Brief & Your Deadlines Introducing the Formative FeedbackIn this unit you will also receiveFEEDFORWARD– originally developed bymanagement expert named Marshall Goldsmith.Instead of rating and judging your performance in the past, the lecturer will focuson your development in the future.Instead of waiting until you have finished, then marking up all the errors and givingyou a grade, the lecturer would read parts of the work while you are writing it,point out things they are noticing, and ask you questions to get your thinking abouthow you might improve it.KNOW YOUR DEADLINESTheHarvardReferencingsystemReferencing acknowledges the books, articles, websites, andany other material used in the writing of a paper, essay orthesis.A Referencing Style is a set of rules telling you how to do this ina particular way.Referencing is a crucial part of successful academic writing andis key to your assignments and research.Harvard style referencing is an author/date method. Sourcesare cited within the body of your assignment by giving thename of the author(s) followed by the date of publication. Allother details about the publication are given in the list ofreferences or bibliography at the end.Why Reference?Referencing allows you to acknowledge the contribution of otherwriters and researchers in your work.Any university assignments that draw on the ideas, words or researchof other writers must contain citations.Referencing is a way to provide evidence to support the assertionsand claims in your own assignmentsSo, citations are not used simply to avoid plagiarism; they haveother important roles tooREFERENCING – main principles / in short• All the sources listed in the reference list must appear in the work’s text body• All the sources quoted in the work’s text body must appear in the reference list• In text: Surname (year) and page number for direct quotes incl. pictures, graphs,charts Smith (2014, p.54)• In the reference list (back of work):• Surname, Initial (year) title of the work, place of publication, publisherSmith, J. (2014) Global Marketing, London, Pearson Education Ltdand for online sources:• Surname, Initial (year) title of the work (online) full http:// address, date of accessSmith, J. (2014) Global Marketing Management (online) http://www.mariongold.com/globalmarketingmanagement, accessedon November 24, 2020So Why This Module?• Teaches you the main globalisation trends• Teaches you how the PEST factors apply in variouscountries / on various continents• Introduces you to the current global economicdevelopments• Gets you to think about the various issues companiesface when trading internationally and globally• Teaches you something about your generation• Vital for future dissertation / project modules• Opens your mind to new work possibilities• Helps you develop / enhance some research, analytical,independent study skills, critical skillsDefining GlobalisationThere is no one universally accepteddefinition of globalisation.History of Globalisationon paper and in practice‘Globalisation’, as a term and as apolitical concept, only emerged in thelate C20.Defining GlobalisationMost definitions incorporate the following elements:➢the intensification of global linkages and interactions➢a redefinition of the relationship between the ‘local’and the ‘global’➢a popular awareness of this process and thedevelopment of a ‘global consciousness’Defining Globalisation – sociology“Globalisation may be the concept, the keyidea by which we understand thetransformation of human society into the thirdmillennium”Malcolm WatersProfessor of Sociology, University of TasmaniaDefining Globalisation – market system• at the heart of the process of globalisation is the riseof a new organisational paradigm in the form of themarket system• a new logic of commercial exchange has expanded toever more spheres of human activity• after millennia of societies and economies beinggoverned primarily by people making choices within apolitical context, today economies around the world areless governed by the choices of their political institutionsand more by rules of economics, markets and flows offinancial capitalGlobalization – Market Systemhttps://www.youtube.com/watch?v=Ln9XYnI2Cfo‘Globalization’‘Globalization is the inexorable integration ofmarkets, nation-states, and technologies to adegree never witnessed before – in a way thatis enabling individuals, corporations, andnation-states to reach around the worldfarther, faster, deeper and cheaper than everbefore, and in a way that is enabling theworld to reach into individuals, corporations,and nation-states farther, faster, deeper, andcheaper than ever before.’Thomas FriedmanThe defining international system based on”the inexorable integration of markets, nationstates and technologies” (Friedman, 2000:7-9)The title is a metaphor for viewing the world as a level playing field interms of commerce, wherein all competitors, except for labour, have anequal opportunity.Defining Globalisation – international system1. The Lexus and the Olive Tree(1999)2. The World Is Flat (2005)3. Longitudes and Attitudes• In Globalization 1.0, which began around 1492, the world went from size large to sizemedium.• In Globalization 2.0, the era that introduced us to multinational companies, it wentfrom size medium to size small.• And then around 2000 came Globalization 3.0, in which the world went from beingsmall to tiny.There’s a difference between being able to make long distance phone calls cheaper onthe Internet and walking around Riyadh with a PDA where you can have all of Google inyour pocket.It’s a difference in degree that’s so enormous it becomes a difference in kind.The World is Flat min 15:58https://www.youtube.com/watch?v=53vLQnuV9FYDefining Globalisation – Globalization 3.0. Thomas FriedmanDefining Globalisation – Globalization 3.0.Thomas Friedman10 “flatteners” that he sees as levelling theglobal playing field:1. Collapse of the Berlin Wall .2. Netscape3. Workflow software4. Uploading5. Outsourcing6. Offshoring7. Supply-chaining8. Insourcing9. Informing.10. “The Steroids”Recap:• Introduced the objectives and learning outcomes of the unit• Established the unit ground rules• Introduced the scheme of work (SOW)• Introduced the module specification (course handbook)• Introduced the assessment brief & your deadlines• Explained how formative feedback works in this module• Introduced the reading materials / library code of conduct duringCovid19• Covered the Harvard Referencing system Icon College/FalmouthUniversity- style• Introduced the concept of globalisation from various angles• Compared global with international marketing (part 1)
