Course goals
The course aims to introduce students to the main concepts of contemporary international business relationship management in the context of the sustainability and innovation co-creation in the era of Fourth Industrial Revolution. This course focuses on international business future trends, barriers and enablers, and establishing international business in buyer-supplier relationships. The aim is to acquire competencies for future international business relationship management. The course is divided in three lines: (1) knowledge (know-what) and theory (know-why), (2) professional skills (know-how), and (3) interpersonal skills (know-how) and intrapersonal traits (self-knowledge/personal development/savoir-être).
(1) knowledge (know-what) and theory (know-why)
The drivers of international business are outsourcing and offshoring decisions that are affected by political-economic and technological developments. From the 1980s, free trade has increased, since trade tariffs were eliminated under the GATT and WTO arrangements, China’s reformed economy, and the easier communication via the Internet. It led to globalisation and an increasing amount of international business relations. Leading theories will be part of the course.
From a western society perspective, the production of goods and services was transferred to other continents. Most firms started outsourcing non-core activities leading to more complex, transcontinental business relations characterised by multi-cultural business relationships. More recently, firms were confronted with the implications of the Fourth Industrial Revolution also known as Industry 4.0. It is characterised by the Internet-of-Things or Machine-to-Machine communication. It will change international business with technological developments as the autonomation of production processes, 3D printing and cyber-physical systems. Preceding industrial revolution affected the geographical location of production, experts believe production will partly return to Europe, strengthened by major events like the Covid pandemic, the Suez canal blockade and the war in Ukraine. In conclusion, businesses will strengthen their resilience by broadening the supply base.
Moreover, the European Commission has adopted a proposal for a Directive on corporate sustainability due diligence. The proposal aims to foster sustainable and responsible corporate behaviour throughout global value chains, since companies play a key role in building a sustainable e economy and society. They will be required to identify and prevent, end or mitigate adverse impacts of their activities on human rights and on the environment. This directive will affect international business relationships in a profound fashion.
(2) professional skills (know-how), and (3) interpersonal skills (know-how) and intrapersonal traits (self-knowledge/personal development/savoir-être)
To apply the knowledge and theory, real-life case studies will be introduced. The students will participate in teams to solve the issues in the case studies. The fundamental idea behind applying professional and personal skills and traits to the acquired knowledge and theory is that these elements to future-proof students’ competence.
Course results
- Introduce students to the core concepts and theories of international business relations management.
- Discuss and analyse issues within the area of international business relations management.
- Assess and analyse international business relations management dilemmas regarding Industry 4.0, sustainability and innovation co-creation in buyer-supplier relationships.
- Develop a general orientation in international business relations management.
- Apply international business relations management insights in practice (case).
- Apply critical thinking and creative problem-solving skills in a changing environment and to reflect on personal skills and traits development.
- Demonstrate knowledge and ability to negotiate.
- Explain the relevance of fostering sustainability and circularity in international business relationships as a tool that guarantees that business serves primarily the interests of society.
