: Standard (Grading ) (1.0 min./ 4.0 passing grade/ 7.0 max.)

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1 NAME ACRONYM CRÉDITS MODULES REQUIREMENTS TYPE FORMAT GRADING PROFESSOR : MANAGING MULTINATIONAL CORPORATIONS : EAM522 : 5 UC : 01/ Quarterly : None : Elective : Lecture : Standard (Grading ) (1.0 min./ 4.0 passing grade/ 7.0 max.) : Daniel Rottig SCHEDULE : THURSDAY 3 to 7pm FRIDAY 8 to 7 pm SATURDAY 8 to 5:30pm DATES : May 10, 11, 12 I. COURSE OVERVIEW The principal objective of this course is to prepare graduate students to better understand the complexity of entering foreign markets through equity-based entry modes and to effectively manage the international operations of multinational corporations (MNCs). The course builds on a cross-disciplinary approach and will present a unified framework based on which we will discuss the various strategic and operational issues confronting MNCs when entering international markets. The course will specifically focus on the strategic, operational and global issues in conducting mergers and acquisitions (M&As) and addresses the practical and managerial opportunities and challenges of these global transactions by MNCs. The course will further discuss the managerial opportunities and challenges of managing MNCs in emerging markets. Students will apply the gained conceptual knowledge through various individual assignments and an integrative team project. II. EDUCATIONAL OBJECTIVES 1. Identify and describe the complexities of managing a multinational corporation (MNC) in the global business environment 2. Understand the considerable challenges as well as valuable opportunities managers of MNCs face when (further) internationalizing their business operations 3. Analyze the performance determinants of MNCs from both an institution-based (macro) 4. and resource-based (micro) perspective 5. Understand the global strategic factors that determine the success of MNCs in general, and in the context of equity-based foreign market entry modes in particular 6. Understand the strategic alternatives available to MNCs to enter and further expand in 7. international markets with particular emphasis on equity-based foreign market entry modes 8. Analyze the performance determinants of global private equity as well as strategic international mergers and acquisitions

2 9. Understand the various issues in managing multinational corporations in the context of undertaking and implementing international mergers and acquisitions using a crossdisciplinary approach including global strategic, operational, functional (such as managing human resources, global teams etc.) perspectives 10. Understand the importance and dynamic character of sociocultural integration in international mergers and acquisitions when managing multinational corporations 11. Apply the gained conceptual knowledge by analyzing the current global business 12. environment and proposing specific solutions for managing MNCs III. COURSE CONTENTS Overview of the Multinational Corporation (MNC), Conceptual Foundations, Current and Future Trends in Global Business and Managing MNCs Global Business Environment of the Multinational Corporation: Managing Formal and Informal Institutions and the Importance of Legitimacy in Global Markets Leveraging Resources and Capabilities When Managing MNCs in Global Markets Entering and Further Expanding to Global Markets International Mergers and Acquisitions (M&As), Global Environment of M&As, Managing the M&A Process Managing Private Equity Investments (Buy to Sell Transactions) Managing Strategic Mergers and Acquisitions (Buy to Hold Transactions) Managing the MNC and M&As in Emerging Markets IV. TEACHING METHOD AND APPROACH The course uses a variety of methods, including class discussions, case analyses, readings, lectures, exercises, student presentations, and team work. Given the nature of this course that is based on an interactive learning environment, students are expected to attend and actively participate in all class sessions to facilitate a fruitful collective learning experience. V. GRADING Case Analyses (individual) 30% Article Brief Assignment/Exercise (individual) 30% Global Business Topics Project (team) 40% VI. COURSE MATERIALS, SCHEDULE AND CONTENT Please see an overview of the assignments and a detailed schedule (session by session), including course content and reading materials, on the following pages. review Individual Assignments (Pre-Course Assignments)

3 Due Date Day 1 (May 10) Day 2 (May 11) Article Brief Assignment/ Exercise No Assignment for Submission Business Cultural Intelligence Quotient (BCIQ) Assessment (Exercise) Yunus et al & Winter and Govindarajan 2015 (Article Brief) Case Analyses No Assignment for Submission Day 3 (May 12) Tad O Malley - The Investment Conundrum (Case Analysis) InBev Anheuser Busch Acquisition (Case Analysis) Overview Global Business Topics Team Project (Post-Course Assignment) This project provides student teams with the opportunity to act as consultants on a special global business topic and their implications for managing multinational corporations. The project provides the opportunity to apply the gained conceptual knowledge in the course to a real-life company and business setting, and includes the interviewing of business executives who have current experience with, and expertise in, the chosen global business topic and to whom you can ask important questions so that answers can be incorporated in the project. This project, therefore, constitutes a valuable opportunity to you and your team members to get in touch and network with business executives through the interviews. Student teams will be formed in class and assignment details will be discussed during the course. Student teams will work on the project after the in-class portion of the course has been completed. Student teams will be given ample time to complete the project, and the specific due date will be defined by the program administration and announced in class. Student teams which decide to go above and beyond the mandatory requirements (i.e. class requirements) of the project may be considered for presenting the project at a major international business conference and so may have the opportunity to network with international business executives, fellow graduate students and academicians from around the globe at this conference. Details will be discussed in class.

4 DAY 1: THURSDAY PM, May 10, 2018 Topic 1: Overview of the Multinational Corporation (MNC), Conceptual Foundations, Current and Future Trends in Global Business and Managing MNCs Recommended Readings: Ghemawat, P Globalization in the Age of Trump: Protectionism Will Change How Companies Do Business But Not in the Ways You Think. Harvard Business Review, July- August: Rottig, D Institutions and Emerging Markets: Effects and Implications for Multinational Corporations. International Journal of Emerging Markets, 11 (1): DAY 2: FRIDAY AM & PM, May 11, 2018 Topic 2: Global Business Environment of the Multinational Corporation: Managing Formal and Informal Institutions and the Importance of Legitimacy in Global Markets EXERCISE ASSIGNMENT: Exercise: Business Cultural Intelligence Quotient (BCIQ) Assessment (see handout for assignment guidelines) Topic 3: Leveraging Resources and Capabilities When Managing MNCs in Global Markets, Managing MNCs in Emerging Markets Assigned Readings: Yunus, M., Dalsace, F., Menascé, D. & Faivre-Tavignot, B Reaching the Rich World s Poorest Customers. Harvard Business Review, March: Winter, A. & Govindarajan, V Engineering Reverse Innovation: Principles for Creating Successful Products for Emerging Markets. Harvard Business Review, July- August: ARTICLE BRIEF ASSIGNMENT: Yunus et al & Winter and Govindarajan 2015 Article Analysis (see handout for assignment guidelines) Topic 4: Entering and Further Expanding to Global Markets (Non-Equity vs Equity based Entry Modes, Build-Borrow-Buy Options) Topic 5: International Mergers and Acquisitions (M&As), Global Environment of M&As, Managing the M&A Process

5 DAY 3: SATURDAY AM & PM, May 12, 2018 Topic 6: Managing Private Equity Investments (Buy to Sell Transactions) CASE ANALYSIS I: Case: Tad O Malley - The Investment Conundrum (see handout for assignment guidelines) Topic 7: Managing Strategic Mergers and Acquisitions (Buy to Hold Transactions) Recommended Readings: Rottig, D A Marriage Metaphor Model for Sociocultural Integration in International Mergers and Acquisitions. Thunderbird International Business Review, 55(4): Rottig, D., Schappert, J. & Starkman, E Successfully Managing the Sociocultural Integration Process in International Acquisitions: A Qualitative Analysis of Canon s Acquisition of Océ. Thunderbird International Business Review, Vol. 59, Issue 2 (March/April): CASE ANALYSIS II: Case: InBev Anheuser Busch Acquisition (see handout for assignment guidelines) Topic 8: Managing M&As in Emerging Markets CONCLUSION AND FINAL COMMENTS

6 RECOMMENDED ADDITIONAL READINGS (not required) if you have the time: Topic 1: Overview of the Multinational Corporation (MNC), Conceptual Foundations, Current and Future Trends in Global Business and Managing MNCs Bremmer, I The New Rules of Globalization. Harvard Business Review, January- February: Joerres, J Globalization, Robots, and the Future of Work. Harvard Business Review, October: Topic 2: Global Business Environment of the Multinational Corporation: Managing Formal and Informal Institutions and the Importance of Legitimacy in Global Markets Khanna, T Contextual Intelligence. Harvard Business Review, September: Early, C. & Mosakowski, E Cultural Intelligence. Harvard Business Review, October: Topic 3: Leveraging Resources and Capabilities When Managing MNCs in Global Markets, Managing MNCs in Emerging Markets Ghemawat, P Finding your Strategy in the New Landscape. Harvard Business Review, March: Topic 4: Entering and Further Expanding to Global Markets Leavy, B Interview - Laurence Capron Analyzes Corporate Development s Build, Borrow and Buy Options. Strategy & Leadership, Vol. 41, Iss. 2: Topic 5: International Mergers and Acquisitions (M&As), Global Environment of M&As, Managing the M&A Process Rottig, D., & Reus, T. H Research on culture and international acquisition performance: A critical evaluation and new directions. International Studies of Management & Organization, 48(1): Topic 6: Managing Private Equity Investments (Buy to Sell Transactions) Chaplinsky, S The Basics of Private Equity Funds. Darden Business Publishing, UV6986: Lerner, J., Hardymon, F. & Leamon, A Note on the Private Equity Fundraising Process. Harvard Business School, : 1-8. Topic 7: Managing Strategic Mergers and Acquisitions (Buy to Hold Transactions) Rottig, D The Role of Social Capital in Cross-Cultural M&As: A Multinational Corporation Perspective. European Journal of International Management, 5(4): Rottig, D Successfully Managing International M&As: A Descriptive Framework. International Business: Research, Teaching and Practice, 1 (1): Topic 8: Managing M&As in Emerging Markets Williamson, P. J. & Raman, A.P How China Reset its Global Acquisition Agenda. Harvard Business Review, April: Kumar, N How Emerging Giants are Rewriting the Rules of M&A. Harvard Business Review, May: