MGT3213 International Business Management is a course offered at the University of Malaya that focuses on the principles and practices of managing a business in the global marketplace. In today’s interconnected world, businesses face a myriad of challenges and opportunities when operating internationally. This course provides students with an understanding of the complexities of managing a business in a global context, including issues such as cultural differences, legal frameworks, and political risks.

Throughout the course, students will explore topics such as international trade theories, global market entry strategies, cross-cultural communication, international finance, and supply chain management. Students will also examine case studies of companies operating in different parts of the world, analyzing their successes and failures to develop a deeper understanding of the global business environment.

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In this section, we describe some assignment tasks. These are:

Assignment Task 1: Better understand the globalised contexts within which organisations operate, compete and strive to survive.

 In today’s interconnected world, organisations operate in a globalised context, where competition is fierce and survival is contingent on their ability to adapt to changing conditions. To better understand this context, it’s essential to consider several key factors:

  1. Economic factors: Globalisation has led to increased economic interdependence, with countries relying on each other for trade, investment, and access to resources. This interdependence has created a complex global economic system that organisations must navigate to remain competitive.

  2. Political factors: Political factors, such as trade policies, regulations, and instability, can significantly impact an organisation’s ability to operate effectively in the globalised context. Organisations must be aware of the political environment in which they operate and adjust their strategies accordingly.

  3. Technological factors: The rapid pace of technological change has created both opportunities and challenges for organisations operating in a globalised context. The rise of digital technologies, for example, has transformed the way organisations communicate, collaborate, and compete.

  4. Social factors: Social factors, such as demographic changes and cultural differences, can also impact an organisation’s success in a globalised context. Organisations must be aware of these factors and adapt their strategies to reflect the cultural norms and expectations of the communities they serve.

  5. Environmental factors: Finally, environmental factors, such as climate change, resource scarcity, and sustainability concerns, are increasingly important considerations for organisations operating in a globalised context. Organisations must be aware of the environmental impacts of their operations and take steps to minimise their carbon footprint and other environmental impacts.

Assignment Task 2: Discern among, and identify relevant strategies and options in such contexts and identify effective competitive courses of action for organisations – large and small.

To discern among and identify relevant strategies and options in different contexts, it’s important to first understand the competitive landscape and the goals of the organization. Here are some strategies and options that could be effective in different contexts:

  1. Cost Leadership Strategy: This involves focusing on reducing costs and providing products or services at a lower price than competitors. This strategy can be effective for organizations that operate in price-sensitive markets, and is often used by large retailers such as Walmart and Aldi.

  2. Differentiation Strategy: This involves creating a unique product or service that sets the organization apart from its competitors. Differentiation can be achieved through product design, brand identity, customer service, or other factors. This strategy can be effective for organizations that operate in markets where customers are willing to pay a premium for unique products or services, such as luxury goods or high-end restaurants.

  3. Focus Strategy: This involves focusing on a specific market segment or niche and providing products or services that meet the needs of that segment. This strategy can be effective for organizations that operate in markets with a few dominant players and can’t compete on cost or differentiation. An example of a company using the focus strategy is Dollar Shave Club, which focuses on providing affordable razors and shaving products to men.

  4. Innovation Strategy: This involves investing in research and development to create new products or services that disrupt the market. This strategy can be effective for organizations that operate in markets with rapidly changing technology or customer needs, such as the tech industry.

To identify effective competitive courses of action for organizations, it’s important to conduct a thorough analysis of the competitive landscape, including identifying the strengths and weaknesses of competitors, understanding customer needs and preferences, and assessing the organization’s own strengths and weaknesses. Based on this analysis, the organization can then develop a strategic plan that leverages its strengths and addresses its weaknesses, while taking advantage of opportunities and mitigating threats in the market.

Assignment Task 3: Better understand the broader macro implications of globalisation and aspects of e.g. national competitiveness on the evolving circumstances faced by businesses, consumers and other social groups – besides their own ‘lived realities’.

Globalisation has had significant macro-level implications for businesses, consumers, and other social groups. One of the main impacts of globalisation is increased competition. With the ability to reach customers across the world, businesses must compete with not only local but also international rivals. This has led to increased pressure on companies to improve efficiency and reduce costs to remain competitive.

Another significant macro-level implication of globalisation is the shift in economic power towards emerging markets. The rise of countries like China and India has created new opportunities for businesses to expand into these markets. However, it has also created new challenges, such as adapting to local regulations and cultural norms.

Globalisation has also led to the emergence of global supply chains, where businesses source raw materials and components from multiple countries. This has increased the complexity of managing supply chains and has created new risks for businesses, such as disruptions due to natural disasters, political instability, or trade disputes.

For consumers, globalisation has led to increased choice and lower prices. The ability to purchase goods and services from anywhere in the world has given consumers access to a wider range of products at lower prices. However, it has also led to concerns about the impact of globalisation on local communities and jobs, as companies move production to countries with lower labor costs.

At the macro-level, national competitiveness has become increasingly important in the context of globalisation. Governments are under pressure to create a business-friendly environment that attracts investment and promotes economic growth. This includes investing in education and infrastructure, reducing regulatory barriers, and promoting innovation.

However, the benefits of globalisation have not been evenly distributed, and some social groups have been left behind. In particular, workers in industries that have been affected by global competition may experience job losses and reduced wages. This has led to concerns about income inequality and the need for policies to support workers who are negatively affected by globalisation.

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