Introduction
This textbook has been compiled for the online version of the St. Clair College course: INT 135G – ENTREPRENEURSHIP IN A GLOBAL SETTING. The chapters are organized by Course Learning Outcome.
Course Description: This course presents an overview of the most important characteristics of today’s global trading environment. It seeks to help students understand the key forces affecting the international marketplace as well as Canada’s place within it. In turn, students gain an understanding of the effect of these forces on their life and work. Topics include the characteristics of the global trading system, key integrative forces driving the international economy, and the importance of culture and cultural sensitivity in the conduct of international business.
Content
CLO (Course Learning Outcome) 1: Determine how current issues and trends in the global economy and trading environment affect the Canadian economy
1. Discuss current geopolitical issues and their effect on the Canadian economy
- 1.1. Introduction
- 1.2. US-China trade tensions
- 1.3. Brexit
- 1.4. Climate change
2. Economic and Political Environment
- 2.1. Introduction
- 2.2. The Economic Environment
- 2.3. The Political Environment
- 2.4. The Political Risk
3. Identify the trends in technology, demographics, consumerism, and shifting world trade patterns and the globalization of business.
- 3.1. Defining Global Marketing
- 3.2. Automation and AI (Artificial Intelligence)
- 3.3. Global value chains
4. Explain the effect these trends have on international business
- 4.1. Value Preposition
- 4.2. Ethics
- 4.2.1. Ethics definition
- 4.2.2. Ethical Organizations
- 4.2.3. Issues of Honesty and Integrity
- 4.2.4. Whistleblowing
- 4.3. Corporate Social Responsibility
5. Locate important emerging markets.
- 5.1. China
- 5.2. India
Identify the key current regional trade blocks
- 6.1. European Union (EU)
- 6.2. North American Free Trade Agreement (NAFTA)
Define the types of economic integration
- 7.1. Economic Integration Definition
- 7.2. Economic Integration Levels
Name and define the roles of the key international institutions that regulate the conduct of global trade.
- 8.1. World Trade Organization (WTO)
- 8.2. International Monetary Fund (IMF)
- 8.3. World Bank
CLO 2: Explain how Canada’s strengths and weaknesses as a trading nation within a global economy translate into opportunities for economic growth and employment.
1. Review the types of goods involved in Canada’s early history of trade
- 1.1. International Trade
- 1.2. Canadian Trade Policy
2. Discuss the evolution of Canada’s trade into the 20th and 21st centuries
- 2.1 Economic History of Canada
- 2.2 Study of Economic History
3. Identify Canada’s key trading relationships with other nations.
- 3.1. Canada and North America
- 3.2. Canada and Latin America and the Caribbean
- 3.3. Canada and Asian-Pacific
- 3.4. Canada and Europe
- 3.5. Canada and the Middle East and North Africa
4. Name the trade agreements with which Canada is a signatory.
- 4.1. Canada-European Union Comprehensive Economic and Trade Agreement (CETA)
- 4.2. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
5. Identify and explain Canada’s current strengths and weaknesses in natural resources, transportation, and communications, energy, and agriculture, among others.
- 5.1. Natural Resources Canada
- 5.2. Major Macro Economic Indicators
- 5.3. Canada: Strengths and weaknesses
6. Explain the impact of Canada’s strengths and weaknesses on opportunities for economic growth and employment
- 6.1. Innovation for a better Canada
CLO 3: Defend the importance of considering cultural diversity when conducting business globally
1. Define “Culture”
2. Discuss how cultural differences can impact the effectiveness of various conflict resolution strategies.
- 2.1 Direct vs. indirect communication
- 2.2 Trouble with accents and fluency
- 2.3 Managing Multicultural Teams
Cultural competencies that are essential for conducting business internationally.
- How to Successfully Work Across Countries, Languages, and Cultures
