Bob Gaglardi School of Business and Economics

International Business Major/Minor

Due to great strides in communications and transportation, the world is becoming a much smaller place and more homogeneous. This has led to a global business environment where even the smallest companies must pursue opportunities beyond their country's borders to survive. Established markets like North America or Western Europe have become more efficient and emerging markets like the BRICS nations (Brazil, Russia, India, China and South Africa) have been able to prosper. In many instances, competition on the battle field is being replaced by trade leading to more stable international relations.

The International Business Major prepares students for positions as managers and entrepreneurs in the global economy. Program graduates may work as directors in an international subsidiary of a major multinational corporation or as overseas sales representatives or product managers. Those with backgrounds in finance may find work as loans officers for the Export Development Corporation (EDC) or as financial analysts with the global investing unit of a major financial institution.

International business professionals must develop a life-long commitment to learning about the world, its peoples, and their cultures. Not only does this knowledge help them do a better job, it also shows their respect for the many different participants in the new economy. Respect leads to friendship, which in turn leads to prosperous, long-term business relationships.

After graduation, it is expected that a significant number of students will pursue the Certified International Trade Professional (CITP) designation indicating their commitment to the new profession of international trade. After gaining valuable work experience, students will also be well prepared to enter one of the many graduate programs in international business and possibly go on to a career in teaching and research at the college or university level.

For those students wanting only an exposure to international business, an International Business Minor is also available.

 Learning objectives
  • Demonstrate professional selling practices that maximize company profitability through strong customer service and retention.
  • Develop a market research plan to analyze the business environment and consumer and business-to-business behaviour using appropriate primary and secondary data sources.
  • Adapt financial principles to international business operations including import/export and multinational activities.
  • Explain the macroeconomic aspects of globalization including gains from trade, protectionism, capital movements, exchanges rates, international monetary system and economic development.
  • Design marketing plans for developed and emerging markets that reflect their unique cultures, management styles, business practices and operating environments.
  • Administer people effectively in an international environment realizing how differences in culture, interpersonal behaviour and management practices influence the actions taken.
  • Construct a comprehensive business plan for a new international venture or product.
  • Manage the different aspects of an international firm from a strategic perspective recognizing the environmental, cross-cultural and managerial differences between countries and regions.
  • Apply international business principles in a professional capacity.
 Major requirements

The requirements for this program have been revised and are effective beginning in September 2016. Students admitted prior to September 2016 have the option of remaining in their original program or completing the revised program outlined below. Students should contact an academic advisor if they are uncertain of their course selection.

IBUS 3530
International Trade Finance (3,0,0)

IBUS 3530 International Trade Finance (3,0,0)

Credits: 3 credits
Delivery: Campus

Students develop an understanding of the finance principles required to conduct business in a global environment, including import and export, and multinational operations. Topics include globalization; trade risk and risk assessment; methods of payment; use of bonds, guarantees, and letters of credit; currency risk management; export credit insurance; trade finance; structure trade finance; terms of payment; international trade theory; the international monetary market; the global capital market; and foreign direct investment.
Prerequisite: FNCE 2120 or FNCE 3120, IBUS 3510
Exclusion: BBUS 4520 and IBUS 4520
For more information, search for this course here.

MKTG 4470
International Marketing (3,0,0)

MKTG 4470 International Marketing (3,0,0)

Credits: 3 credits
Delivery: Campus

Students explore all aspects of marketing from a global perspective to better respond to international opportunities and competitive situations. Topics include an overview of international marketing; history and geography and its effect on culture; cultural dynamics in assessing global markets; culture, management style and business systems; the political environment; assessing global market opportunities in the Americas, Europe, Africa, Middle East, and Asia Pacific Region; planning for global market entry; products and services for international consumers; products and services for international businesses; and international marketing channels.
Prerequisite: MKTG 2430 (minimum C-) or equivalent
Note: Students may not receive credit for more than one of MKTG 4470, MKTG 4471, BBUS 4470 or BBUS 4471
For more information, search for this course here.

IBUS 4510
Cross-cultural Management (3,0,0)

IBUS 4510 Cross-cultural Management (3,0,0)

Credits: 3 credits
Delivery: Campus

Students explore the significance of culture in strategic decisions encompassing elements of risk management, ethics, and the management of diversity, in a range of international management contexts across Asia, Europe, Africa and the Americas. Topics include cultural dimensions of international management; comparing cultures; movement in the culture; organizational culture; culture and management communication; needs and incentives from an international perspective; dispute resolution and negotiation; and the cross-cultural dimensions of global staffing.
Prerequisite: IBUS 3510 (minimum C-) or equivalent
For more information, search for this course here.

IBUS 4540
Global Entrepreneurship (3,0,0)

IBUS 4540 Global Entrepreneurship (3,0,0)

Credits: 3 credits
Delivery: Campus

Students explore entrepreneurship in a global setting. The course provides an introduction to the opportunities and challenges of entrepreneurship from an international perspective. The course focuses on the need for every entrepreneur and innovator to understand the global market in today's hypercompetitive world. Topics will include globalization and the international environment; definition and importance of international entrepreneurship; culture and international entrepreneurship; developing a global business plan; selecting international business opportunities; international legal concerns; alternative entry strategies; global monetary system; global marketing and research and development; global human resource management; and implementing and managing a global entrepreneurial strategy.
Note: Students can not receive credit for both BBUS 4540 and IBUS 4540
For more information, search for this course here.

IBUS 4560
Doing Business in Emerging Markets (3,0,0)

IBUS 4560 Doing Business in Emerging Markets (3,0,0)

Credits: 3 credits
Delivery: Campus

Students examine the position of emerging markets in the new global economy and the business opportunities available in these countries. It highlights challenges and opportunities associated with organizational management and business strategy in emerging economies. Topics include understanding emerging economies; markets and institutions; operating in emerging markets; emerging markets' innovations; managing risk in emerging markets; targeting emerging market clients; and business ethics in emerging markets.
Prerequisite: IBUS 3510 (minimum C-) or equivalent
For more information, search for this course here.

IBUS 4570
Global Management (3,0,0)

IBUS 4570 Global Management (3,0,0)

Credits: 3 credits
Delivery: Campus

Students conduct an integrative and comprehensive overview of the fundamental issues and challenges that confront the international firm. Topics include globalization and international linkages; public, legal and technological environments; meaning and dimensions of culture; organizational culture and diversity; cross-culture communication and negotiation; strategy formulation and implementation; entry strategies and organizational structures; managing political risk, government relations, and alliances; management decision and control.
Prerequisite: IBUS 3510 (minimum C- grade) or equivalent
Note: Students may only receive credit for one of BBUS 4510, IBUS 3520 or IBUS 4570
For more information, search for this course here.

At least two of:
ECON 3550
International Economics (3,0,0)

ECON 3550 International Economics (3,0,0)

Credits: 3 credits
Delivery: Campus

Students analyze the movement of capital, goods, and services across international boundaries and assess their financial impact. With advances in transportation and communication, greater outsourcing, and increased globalization, trade, and foreign direct investment, the corresponding capital movements are becoming much more important to the global economy. Topics include the theories of absolute and comparative advantage; modern theories of trade, including factor-proportions; tariff and non-tariff barriers; current and capital accounts; exchange rate determination; balance of payments and exchange rate policy; evolution of the international monetary system; and trade and economic development.
Prerequisite: ECON 1900; ECON 1950
For more information, search for this course here.

MKTG 3450
Professional Selling (3,0,0)

MKTG 3450 Professional Selling (3,0,0)

Credits: 3 credits
Delivery: Campus

Students will gain an overall view of the professional selling function. They will come to understand the role of personal selling in marketing and society and its application within organizations. Topics include relationship selling opportunities; creating value with a relationship strategy; developing a relationship strategy; communication styles; creating production solutions; buying process and buyer behavior; approaching the customer; developing and qualifying a prospect base; determining customer needs; sales demonstration; negotiating buyer concerns; and closing and confirming the sale.
Prerequisite: MKTG 2430 (minimum C-) or equivalent
Note: Students cannot receive credit for more than one of MKTG 3450, MKTG 3451, HMGT 2120, BBUS 3450 or BBUS 3451
For more information, search for this course here.

MKTG 3480
Marketing Research (3,0,0)

MKTG 3480 Marketing Research (3,0,0)

Credits: 3 credits
Delivery: Campus

Students develop an understanding of marketing research and its values in analyzing consumers, markets, and the environment. Topics include an introduction to market research, the marketing research industry and research ethics, the marketing research process, secondary data and databases, qualitative research, traditional survey research, primary data collection, measurement, questionnaire design, basic sampling issues, sample size determination, and statistical testing.
Prerequisite: MKTG 2430 and ECON 2330 (minimum C- grades) or equivalent
Note: Students can only receive credit for one of MKTG 3480, MKTG 3841, TMGT 3050, BBUS 3480 or BBUS 3481.
For more information, search for this course here.

IBUS 4590
International Business Field Study (3,0,0)see note below

IBUS 4590 International Business Field Study (3,0,0)

Credits: 3 credits
Delivery: Campus

Students gain a first-hand understanding of international businesses through a focused overseas study tour during which the business, management and cultural practices of a selected country are experienced. The field study includes tours to local chambers of commerce, industrial zones and factories and enables students to meet executives in key industries. Topics include business etiquette and business customs; interpersonal and communication skills; economic, political and business environment; international trade relations; decision-making styles; and business opportunities, challenges and strategies between Canada and the foreign country.
Prerequisite: IBUS 3510 (minimum C-) or equivalent, or permission of the program advisor
For more information, search for this course here.

Students who complete a Study Abroad semester may substitute another business elective for IBUS 4590.

 Minor requirements

The requirements for this program have been revised and are effective beginning in September 2016. Students admitted prior to September 2016 have the option of remaining in their original program or completing the revised program outlined below. Students should contact an academic advisor if they are uncertain of their course selection.

IBUS 3530
International Trade Finance (3,0,0)

IBUS 3530 International Trade Finance (3,0,0)

Credits: 3 credits
Delivery: Campus

Students develop an understanding of the finance principles required to conduct business in a global environment, including import and export, and multinational operations. Topics include globalization; trade risk and risk assessment; methods of payment; use of bonds, guarantees, and letters of credit; currency risk management; export credit insurance; trade finance; structure trade finance; terms of payment; international trade theory; the international monetary market; the global capital market; and foreign direct investment.
Prerequisite: FNCE 2120 or FNCE 3120, IBUS 3510
Exclusion: BBUS 4520 and IBUS 4520
For more information, search for this course here.

IBUS 4510
Cross-cultural Management (3,0,0)

IBUS 4510 Cross-cultural Management (3,0,0)

Credits: 3 credits
Delivery: Campus

Students explore the significance of culture in strategic decisions encompassing elements of risk management, ethics, and the management of diversity, in a range of international management contexts across Asia, Europe, Africa and the Americas. Topics include cultural dimensions of international management; comparing cultures; movement in the culture; organizational culture; culture and management communication; needs and incentives from an international perspective; dispute resolution and negotiation; and the cross-cultural dimensions of global staffing.
Prerequisite: IBUS 3510 (minimum C-) or equivalent
For more information, search for this course here.

IBUS 4570
Global Management (3,0,0)

IBUS 4570 Global Management (3,0,0)

Credits: 3 credits
Delivery: Campus

Students conduct an integrative and comprehensive overview of the fundamental issues and challenges that confront the international firm. Topics include globalization and international linkages; public, legal and technological environments; meaning and dimensions of culture; organizational culture and diversity; cross-culture communication and negotiation; strategy formulation and implementation; entry strategies and organizational structures; managing political risk, government relations, and alliances; management decision and control.
Prerequisite: IBUS 3510 (minimum C- grade) or equivalent
Note: Students may only receive credit for one of BBUS 4510, IBUS 3520 or IBUS 4570
For more information, search for this course here.

At least one of:
MKTG 4470
International Marketing (3,0,0)

MKTG 4470 International Marketing (3,0,0)

Credits: 3 credits
Delivery: Campus

Students explore all aspects of marketing from a global perspective to better respond to international opportunities and competitive situations. Topics include an overview of international marketing; history and geography and its effect on culture; cultural dynamics in assessing global markets; culture, management style and business systems; the political environment; assessing global market opportunities in the Americas, Europe, Africa, Middle East, and Asia Pacific Region; planning for global market entry; products and services for international consumers; products and services for international businesses; and international marketing channels.
Prerequisite: MKTG 2430 (minimum C-) or equivalent
Note: Students may not receive credit for more than one of MKTG 4470, MKTG 4471, BBUS 4470 or BBUS 4471
For more information, search for this course here.

IBUS 4540
Global Entrepreneurship (3,0,0)

IBUS 4540 Global Entrepreneurship (3,0,0)

Credits: 3 credits
Delivery: Campus

Students explore entrepreneurship in a global setting. The course provides an introduction to the opportunities and challenges of entrepreneurship from an international perspective. The course focuses on the need for every entrepreneur and innovator to understand the global market in today's hypercompetitive world. Topics will include globalization and the international environment; definition and importance of international entrepreneurship; culture and international entrepreneurship; developing a global business plan; selecting international business opportunities; international legal concerns; alternative entry strategies; global monetary system; global marketing and research and development; global human resource management; and implementing and managing a global entrepreneurial strategy.
Note: Students can not receive credit for both BBUS 4540 and IBUS 4540
For more information, search for this course here.

IBUS 4560
Doing Business in Emerging Markets (3,0,0)

IBUS 4560 Doing Business in Emerging Markets (3,0,0)

Credits: 3 credits
Delivery: Campus

Students examine the position of emerging markets in the new global economy and the business opportunities available in these countries. It highlights challenges and opportunities associated with organizational management and business strategy in emerging economies. Topics include understanding emerging economies; markets and institutions; operating in emerging markets; emerging markets' innovations; managing risk in emerging markets; targeting emerging market clients; and business ethics in emerging markets.
Prerequisite: IBUS 3510 (minimum C-) or equivalent
For more information, search for this course here.


 

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