Expanding to Foreign Markets (5cr)

Intro

Join our course, “Expanding to Foreign Markets”! In this course, you’ll learn about a company’s internationalization risks, motives, processes, and strategies. You’ll explore various market entry modes that companies use to grow in different markets and learn how to compare and assess their suitability. You’ll gain insights into making reliable market assessments and understanding the impact of culture on international business operations. Additionally, you’ll examine the role of ethics, sustainability, and corporate social responsibility in global markets. Through participation in a company project, you’ll deepen your knowledge and apply theoretical concepts to practical situations.

Learning objectives

After completion of this course or the equivalent assessment of prior learning, the student will be able to:
- Identify the motives and risks of internationalization.
- Compare and contrast internationalization processes and strategies.
- Compare and assess the suitability of various market entry modes to identify the optional ways to grow in selected markets
- Articulate the process to create a partner network
- Recognize the different strategic options of the company to make a reliable market assessment
- Explain and criticize the challenges and opportunities SMEs and MNCs face in terms of ethics, responsibility and sustainability when selling to markets abroad.
- Compare the cultural environment of business in developed and emerging markets.

Contents

- Terminology and definitions
- Reasons for companies to internationalize
- Prerequisites for successful internationalization/globalization
- Cultural environment of international business
- Ethics, corporate social responsibility, sustainability and governance in international business operations
- Market entry strategies (export entry modes, FDI, contractual entry modes, projects)
- Partners, networks and international value chain
- Target market screening and selection

Implementation methods, demonstration and Work&Study

Implementation types: The course is offered through various flexible learning formats to accommodate different student needs. We offer 1. Contact implementations 2. Blended implementations: combination of face-to-face classes and online learning activities 3. Self-paced virtual implementation with no scheduled classes, allowing students greater flexibility to study at their own pace. 4. Evening implemenations to accommodate working students. 5.Online implementations with online sessions with the instructor.

Demonstration: If the student has obtained the skills and knowledge matching the learning goals of the course elsewhere, for example at work, s/he can show the knowledge and skills through a demonstration. Students should enrol on the DEMO (demonstration) implementation in Peppi. More information about this: https://www.haaga-helia.fi/en/recognition-learning.

In this course, there are two deliverables: a pre-assignment and a presentation. Pre-assignment is an essay that should be written where you discuss the learning objectives and course contents by reflecting them through your prior international business experience. It should describe your competences that you have gained in this field. When it is approved, you have to deliver a presentation about analysing intrenationalisation of a Finnish firm for a target market.

Work&Study: Students are able to acquire new competencies through practical work experience while studying at Haaga-Helia. Students can integrate learning from their workplace with their academic studies and earn credits for the skills and knowledge gained.

Learning materials

Books: Cavusgil S.T., Knight G., Riesenberger J.R. 3rd Edition or newer. International Business: The New Realities. Hollensen, S. Pearson 2014. Global Marketing. E-publication 2017 also available. Other possible material provided/suggested by the teacher.

Lähtötaso ja sidonnaisuudet muihin opintojaksoihin

"Expanding to Foreign Markets" is a Key Competence Course in Business Administration Studies It has no pre-requisites.
It provides a basis for further studies in international business strategy, global operations, and market entry planning. The course complements other key competence courses and supports students in developing the skills needed for working in international markets and completing their work placement or thesis in related fields.

Assessment criteria - grade 1

"When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.”

Assessment criteria
The student:
- knows the basic motives and risks of internationalization
- is able to identify some of the opportunities and challenges the international business environment poses.
- has a rudimentary knowledge of operation modes in foreign markets.
- knows the basic principles of internationalizing a firm’s value chain and utilizing value networks.
- is able to understand SME firm's value chain activity and relate it to a theory or model.
- is able to understand the challenges and opportunities companies face in terms of ethics, responsibility and sustainability when selling to markets abroad.

Assessment criteria - grade 3

Assessment criteria
The student:
- knows the different motives and risks of internationalization.
- is able to analyze the opportunities and challenges the international business environment poses.
- has a good knowledge of various operation modes in global markets.
- is familiar with internationalizing a firm’s value chain and utilizing value networks.
- is able to participate as part of a team in analyzing the target market and drawing up a basic internationalization plan for a value chain activity of a firm.
- is able to explain the challenges and opportunities companies face in terms of ethics, responsibility and sustainability when selling to markets abroad.

Assessment criteria - grade 5

Assessment criteria
- is able to identify proactive and reactive motives as well as the main risks associated with internationalization
- is able to analyze the relevant opportunities and challenges the international business environment poses.
- has a solid knowledge of various operation modes in foreign markets.
- has an analytical comprehension of how to internationalize a firm’s value chain and utilize value networks.
- is able to analyze the target market by choosing relevant information and draw up a well justified internationalization plan for a value chain activity of a firm.
- is able to explain and criticize the challenges and opportunities companies face in terms of ethics, responsibility and sustainability when selling to markets abroad.

Assessment criteria, approved/failed

"When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.”

Grading scale

Grade 0: 0-39 points
Grade 1: 40-50 points
Grade 2: 51-60 points
Grade 3: 61-75 points
Grade 4: 76-89 points
Grade 5: 90-100 points

Further information

Different implementations of the course offer varied learning methods to suit each format. While project work is a core component across all implementations, the types of activities differ. For example, in contact implementation, we have in-person lectures, group discussions, and collaborative teamwork. In blended implementation, we combine face-to-face sessions with online assignments, interactive activities and exam. Virtual courses emphasize self-paced study. Student complete short assignments and project work independently.