ITALIAN and ENGLISH for the frontal lessons, the case studies, the discussion about the suggested readings, some videos on international business, and the project work developed in groups by students.
Introduce students to international strategic planning and entry choices. Analyze the different theories in order to understand the factors affecting firms choices. Considering the challenges connected to intercultural management. Analyze the main risks of internationalization and the hedging instruments for currency risk. Introduce students to the management of international operations and activities. At the end of the course students will be able to plan an international strategy, to understand the main steps and challenges of strategic planning, to evaluate opportunities and risks of foreign markets, to understand the main challenges connected to the organization and management of foreign activities.
Knowledge and understanding: students have to understand the basic step of international strategy, and of market analysis. They will be able to understand the evaluations of foreign markets, and the main dynamics connected to the management of international activities. At the end of the course, students will be able to understand the main issues connected to the interaction with stakeholders coming from different cultural contexts.
Applying knowledge and understanding: students will develop the capability to analyse foreign markets, decide the entry choice, verify the coherence between the factors behind the strategic decision to internationalise and the process. They will know the different risks that international firms face, and will be able to understand the basic hedging techniques.
Making judgements: students need to develop the ability to interpret and critic theoretical models, and to decide the models and techniques, which are more useful in specific situations. They will be able to value on their own the potentialities and risks of foreign markets, and to plan the international process. Through the project work, students will develop the ability to develop independent analysis and to defend their results.
Communication skills: students need to be able to answer in a precise and reasoned way to the questions posed during the written and the oral exam. For attending students, the presentation of their project work allow them developing their own reasoning, synthesizing their ideas, and defending their thesis. Students are allowed and invited to develop and present their projects in English. Last but not least, working in groups, they can develop interactive abilities, and also the capability to negotiate with people who have different ideas.
Learning skills: to pass the exam, students need to demonstrate their capability to learn the different topics, and to discuss them also considering different and independently bibliographical resources. Thanks to the project works, students will be able to integrate the new knowledge with those acquired in previous exams.
It’s useful that students have a basic knowledge of business management, and are familiar with strategy and value chain.
The course discusses the impact of globalization on international management and on international competition, the international theories, strategy formulation, entry choices, the management of international activities, the impact of culture on communication and HRM, the financial management of international firms. The course is organized with traditional frontal lessons, case studies analyses, project works, discussions on specific topics, exercises. The first part is characterized more by frontal lessons and discussions on cases, videos, and papers. The second part is dedicated to the project works. Students build up teams and develop the international strategy of a specific firm in a given market. This is very useful to apply the theoretical knowledge to empirical situations.
Although the length of each section depends on the background of the class, normally the content will divided into 4 different blocks as follows:
I block (18 hours):
Theoretical background and evolution of the theoretical approaches.
II block (18 hours):
The internationalization process (analysis of foreign markets, analysis of the risks connected to the entrance into the target market, entry choices, the effects of culture on international management).
III block (18 hours)
Case studies analysis and project works. Students are divided into groups. Each group has to define the internationalization strategy of a specific firm into a given foreign market. Students will show their analysis, highlight the main opportunities and risks, suggest an entry choice. They will also explain which theory is useful to interpret the case they have analysed.
IV block (18 hours):
The financial management of international firms: Renvoicing and netting centers, and hedging instruments (future, option and currency swaps).
Hill, International Business, Mc-Graw Hill
Chapters: 1, 3, 5, 7, 9, 12, 13, 14, 15, 16, 17, 18, 20
Additional reading will be provided during the course
Final assessment is based on a written test consisting of open questions about the topics covered in the program and an oral exam as well. For students attending the course, final assessment will be based on a written exam, participation in classroom discussions and presentation of group projects contribute to the final note. Each group has 20 minutes to present its work and ten minutes are dedicated to the discussion.