BSB119 T W12

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Management and Human Resources
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1 BSB119 – GLOBAL BUSINESS TUTORIAL 12: REVIEW EXERCISES AND EXAM PREPARATION Go through review lecture slides Link to the tutorial questions – there are some good practice questions International business has a couple of crucial buzz terms Location advantages are really helpful – why do people do international business. This is the usual reason. Tutorial 1, Question 1 – Why Global business? Usually yolur location is saturated with competitors or like minded products, the market is not big enough for the company, you may not like the government or their policies eg carbon tax, you cannot afford to produce here due to overheads such as work standards and the associated costs (Australia has a high number of regulations from example the Taxi industry – people don’t pay tax, maintain the correct licenses, work excessive shifts) – there are a whole heap of reasons New market, bigger market, un-tapped market, developing markets, products where we have a competitive advantage Location advantage: skills, labour, resources, difference types of governments - All the factors mentioned in the country anaylsis - Remember these advantages - Polical, geography (area closer to suppliers or where you want to sell the product), financial ALWAYS BE ABLE TO ANSWER THIS QUESTION The exam 2 hours + 10 minutes Look at the short essay questions first – see what they are, what topics do they cover etc. Then start answering multi-choice questions in perusal time (on the question paper not the mark sense sheet). You should be able to get quite a few done in the 10 minutes Looking at the short-essay helps you to know what to look out for in the multi-choice questions. You may have find the answers or some information which can help you with the short-essay style questions. There will also be lots of global bsuienss terms which you can use to help you structure your response to the question/put a better response down. How much time should you spend? Pick 2 short-essay questions from 4 Only write a response to 2!!!! Follow the instructions! Spend approx. 30 minutes How much to write? Depends – use the full amount of time which you have allocated. Plan out your response. Synergy = all lectures build to a bigger picture – be able to use them. MAKE SURE YOU READ THE QUESTION. Some questions may have several parts – make sure you use them. Answer MC in qencil Write Short-response in a pen – it is easier to ‘read’ Ensure you write it neatly. Set out the response in a way which is easier to read – easy for the marker to award marks. Where possible substiant your answers with examples and case studies. Example question: When going international why would you choose licensing over a joint venture? 2 Answer: Licensing is (explain). The advantages and disadvantages of licensing are … A good example of licensing is xyz product (give an example). In contrast, a joint venture is (explain). The advantages and disadvatnages of JV are … A good example of a JV is … Define the key terms Break it down into its part – give argyuements for an against Then give an example PERFECT WAY TO ANSSWER THE QUESTION When you licensing something you give someone else the license to make it. There is no expertise, financial gain or issue with competitors associated with it. Depending otn eh product, consider if there is any regulation or intellectual property restrictions. In return for the licensing product, you will receive a royalty. Good example: Pen. Converse with a product you want to maintain control over – eg marketing, management, quality, production process, intellectual property. Where it is too expensive to make in Australia, and you want to make it in an area where it is cheaper and the market is most substantial, you need to choose a JV partner. Who would you go into a joint venture with? Good example pharmaceutical product. Another pharmaceutical company – you have joint interests. A credible competitor you can trust, well known and respected and you are happy to shrae with. Share the cost and the risk. Also allows you to maintain control. Wholly owned subsidiary or joint venture – factors of FDI become important If there are no location advantages, you can export it. The only reason why you choose the other options is because there is an advantage associated with being physically present in the country. Market economic, cenetrally planned economy and mixed economies = good question. What are the three types of economies and then be able to give a country example. Centrally planned = originally China and North Korea. Not many left – they don’t work well. Macro-indicators: like country analysis. Culture – learn the competitive advantages – the practical outcome of cultural understanding and competency. What are the advantages of understanding culture. Refer to the practical out comes slides eg cost savings, access to quality staff, marketing advantage, difference problem solving approaches and effective management control. MENTION LANGUAGE – less conflict and miss understanding, reduce time to get to the market Understand the work ethic – pick the correct staff Design your marketing around this – instead of using a marketing package from home, change it to suit the culture. Know the difference between high and low context countries and be able to provide an example. High – collective Because of social networks and relationships, collective nature – communication is in knowing how people react to issues and what they want and expect of you. More non-verbal than verbal Low – individual (Western) 3 Flit from job to job to job. Not a lot of loyalty, very competitive, we do not form social relations within work placements. Needs to be a lot of explicty conversation – agendas are required. Need to know exactly what is happening. No the difference between horiztonal and vertical individ
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