IBUS-1301 Principles of Exports
Robert Jackson
Credit Fall 2023
Section(s)
IBUS-1301-002 (68848)
LEC DIL ONL DIL
Course Requirements
Export management processes and procedures. Includes governmental controls and compliance, licensing of products, documentation, commercial invoices, and traffic procedures. Emphasizes human and public relations, management of personnel, finance, and accounting procedures. Prior completion of IBUS 1305 recommended.
Course Subjects
Chapter 1 – Why Go Global?
Types of global entrepreneurs
Exportable products and services
Reasons companies go global
Chapter 2 – When is a Company Ready to go Global?
Management commitment
In-depth experience with the product or service
Adequate cash flow
Capacity and capability to produce international products or services
Chapter 3 – Harmonized Codes – Classifying Your Export Products
Why harmonized codes are needed
How the harmonized system of codes works
Locating correct codes for exports and imports
Explain Standardized Industrial Classification and North American Industry Classification Systems
Chapter 4 – Which Foreign Markets Will be Successful for Your Company?
Developing indicators based on previous experience
Proactive versus reactive market selection
Proactive market selection strategy
Identifying trade barriers
Chapter 5 – Selecting Foreign Markets
Process for ranking market opportunities
Country versus market analysis of investment, industry, information technology, and individual consumers
Chapter 6 – Sources of International Marketing Data
Primary versus secondary data
Resolving international data challenges
Sources for country, market, and industry data
Company information
Interviews and direct contact
Chapter 7 – Foreign Market Entry Mode Selection
Indirect, direct, and foreign direct investment foreign market entry modes
Advantages and disadvantages of modes of entry
Choosing between direct and indirect modes
Reasons companies go beyond exporting
Foreign direct investment options
Chapter 8 – Finding your Partners for Indirect Exporting
Export management companies (EMC) versus piggyback partners
Finding an EMC or piggyback partner
Negotiating contracts with indirect partners
Chapter 9 – Finding your Partners for Direct Exporting
Selecting a sales agent or a distributor
Travel or not to travel
Finding customers without traveling
Methods for finding overseas agents or distributors
Selecting agents or distributors
Chapter 10 – International Business Across Cultures
Experiencing cultural differences
Dealing with cultural differences
Role of corporate culture
Chapter 11 – International Product and Pricing Strategies
Product standardization versus adaptation
International pricing strategies
Competitive pricing calculations
Dealing with international pricing concerns
Developing a pricing structure
Chapter 12 – Legal Considerations
Legal systems
Domestic legal considerations
Foreign legal considerations
International contracts
Chapter 13 – Tax and Accounting Issues
Transfer pricing
Duty drawback
Foreign trade zones and bonded warehouses
Value Added Tax (VAT)
Tax incentives for exporters
Chapter 14 – Logistics
Containerized cargo and intermodalism
Understanding INCOTERMS
Role of freight forwarders
Obtaining an international freight quote
Third Part Logistics (3PLS)
Chapter 15 – Documentation and Export Compliance
Standard documents
Export controls for U.S. companies
Four key U.S. agencies
Chapter 16 – Financial Risk, Payment Methods, and Trade Finance
International financial risk
Commercial, political, and foreign exchange risks
Ways to mitigate risks
International payment methods
Obtaining long-term financing
Chapter 17 – Setting a Pace for Your Export Growth – assessing Your Export Progress and Success
Assessment model
Chapter 18 – Managing International Channels of Distribution
Satisfying expectations of customers
Motivating channel partners
Meeting with foreign buyers
Considerations when terminating and agent or distributor
Direct marketing versus direct selling
Chapter 19 – International Advertising, Public Relations, and Trade Missions/Shows
International advertising
International public relations
One voice, one image, one brand
Social media
Trade missions and trade shows
Chapter 20 – Key to Success: Customer Orientation
Benefits of effective customer service
Creating effective customer service
The role of foreign buyers
Chapter 21 – Sustaining Success through Clear Communication and Managing Change
International communication tools
Establishing a feedback mechanism
Managing change
Chapter 22 – The Internet and International Trade
Advantages of the internet in international trade
Special considerations when using the internet
Student Learning Outcomes/Learning Objectives
Chapter 1 – Why Go Global?
Discuss reasons for going global
Identify types of global entrepreneurs
Describe exportable products or services
Investigate 5 strategic principles for going global
Chapter 2 – When is a Company Ready to go Global?
Explain management commitment needed to go global
Determine the need for product or service experience
Ensure adequate cash flow
Discuss capacity and capability to produce international products or services
Chapter 3 – Harmonized Codes – Classifying Your Export Products
Explain need for harmonized codes
Explain how the harmonized system of codes works
Identify correct codes for exports and imports
Explain Standardized Industrial Classification and North American Industry Classification Systems
Chapter 4 – Which Foreign Markets Will be Successful for Your Company?
Develop indicators based on previous experience
Compare proactive versus reactive market selection
Explore proactive market selection strategy
Identify trade barriers
Chapter 5 – Selecting Foreign Markets
Experience the process for ranking market opportunities
Explain how to gather country versus market analysis of investment, industry, information technology, and individual consumers
Chapter 6 – Sources of International Marketing Data
Distinguish primary versus secondary data
Resolve international data challenges
Identify sources for country, market, and industry data
Explain sources of company information
Practice approaches for interviews and direct contact
Chapter 7 – Foreign Market Entry Mode Selection
Discuss indirect, direct, and foreign direct investment foreign market entry modes
Compare the advantages and disadvantages of modes of entry
Select direct and indirect modes
Identify reasons companies go beyond exporting
Analyze foreign direct investment options
Chapter 8 – Finding your Partners for Indirect Exporting
Compare export management companies (EMC) versus piggyback partners
Explain how to find an EMC or piggyback partner
Explain tactics for negotiating contracts with indirect partners
Chapter 9 – Finding your Partners for Direct Exporting
Selecting a sales agent or a distributor
Deciding whether to ravel or not to travel
Finding customers without traveling
Compare methods for finding overseas agents or distributors
Selecting agents or distributors
Chapter 10 – International Business Across Cultures
Experiencing cultural differences
Dealing with cultural differences
Considering the role of corporate culture
Chapter 11 – International Product and Pricing Strategies
Explain product standardization versus adaptation
Discuss international pricing strategies
Analyze competitive pricing methods
Discuss ways to resolve international pricing concerns
Developing a pricing structure
Chapter 12 – Legal Considerations
Discuss different legal systems
Discuss domestic legal considerations
Discuss foreign legal considerations
Strategies for negotiating international contracts
Chapter 13 – Tax and Accounting Issues
Explain transfer pricing issues
Discuss duty drawback
Evaluate uses of foreign trade zones and bonded warehouses
Explain Value Added Tax (VAT)
Analyze tax incentives for exporters
Chapter 14 – Logistics
Understand the benefits of containerized cargo and intermodalism
Understand INCOTERMS
Discuss the role of freight forwarders
Obtain an international freight quote
Explain Third Part Logistics (3PLS)
Chapter 15 – Documentation and Export Compliance
Become familiar with standard documents
Ensure compliance with export controls for U.S. companies
Discuss four key U.S. agencies
Chapter 16 – Financial Risk, Payment Methods, and Trade Finance
Analyze international financial risk
Analyze commercial, political, and foreign exchange risks
Discuss ways to mitigate risks
Explain advantages and disadvantages of variousl international payment methods
Obtain long-term financing
Chapter 17 – Setting a Pace for Your Export Growth – assessing Your Export Progress and Success
Build an assessment model
Chapter 18 – Managing International Channels of Distribution
Satisfy expectations of customers
Motivating channel partners
Meeting with foreign buyers
Considerations when terminating and agent or distributor
Compare direct marketing versus direct selling
Chapter 19 – International Advertising, Public Relations, and Trade Missions/Shows
Discuss international advertising
Explain international public relations
Review the importance of one voice, one image, one brand
Uses of social media
Benefits of trade missions and trade shows
Chapter 20 – Key to Success: Customer Orientation
Benefits of effective customer service
Create effective customer service
Discuss the role of foreign buyers
Chapter 21 – Sustaining Success through Clear Communication and Managing Change
Review international communication tools
Establish feedback mechanisms
Manage change
Chapter 22 – The Internet and International Trade
Advantages of the internet in international trade
Special considerations when using the internet
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Published: 08/21/2023 06:05:38