Dr. Achilleas Kontogeorgos By appointment.
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1 Course Code Course Title ECTS Credits MBAN-805 Economics of Global Food 7.5 Markets Department Semester Prerequisites School of Business Fall/Spring/Summer None Type of Course Field Language of Instruction Elective Economics, Trade & English/Greek Marketing Level of Course Year of Study Mode of Delivery 2 nd Cycle 2 nd Taught/e-learning Course leader Lecturer Student Consultation Hrs Prof. Stamatis Dr. Achilleas Kontogeorgos By appointment Aggelopoulos Telephone Office , , akontoge@upatras.gr akontoge@gmail.com MBA University of Nicosia Objectives of the Course: The food sector is highly globalised today and the food international trade increases gradually. This course examines the enterprises operating within the globalized market and facing various opportunities and threats. It covers the production, supplying and demand of agricultural products and food globally and examines topics related to the international trade and international agreements, world competition, global enterprises strategies, environmental and investment risks, imports and exports, and the world food safety. The main Objective of the course is to provide students with an understanding of a food business operating at international level Thus the course is divided in 5 parts as described below: 1 st Part: International Economics and Trade This part presents the trade and investment policies that are needed to achieve a growing, viable global trade and investment environment and how and why international trade improves the welfare of all countries. This part also examines the criticisms of classical trade theory and examines alternative viewpoints of which business and economic forces determine trade patterns between countries. Also evaluates the trade theories of Paul Krugman and Michael Porter and their relationship to business and government s approaches to trade policy Finally, this part presents, through examples, the barriers to trade developed for the International Trade of agricultural products
2 2 nd Part: Environment This part examines the effect of cultures various dimensions on business and illustrates the ways in which cultural risk poses a challenge to the effective conduct of business communications and transactions and analyzes the strategies corporations can take to work with cultural differences in order to expand their businesses internationally. This part also examines the differing laws, in both the home and host countries, regulating international trade and how governments affect business through legislation and regulations and finally how the political actions of countries expose firms to international risks. This part also reviews types of economic integration among countries and compares the costs and benefits to advancing economic integration and survey the vast opportunities for trade offered by emerging market economies 3 rd Part: Marketing Strategy This part identifies benefits of exporting especially for small business and suggests how markets for international expansion can be selected, along with the appropriate strategies for their development and also describes how the environmental differences generate new challenges for the international marketing manager. This part also compares and contrasts the merits of standardization versus localization strategies for country markets and of regional versus global marketing efforts. It also discusses market-specific and global challenges facing the marketing functions: product, price, distribution, and promotion within both the traditional and e-business dimensions 4 th Part: Logistics Operations This part presents the main logistics decisions available along with the crucial, for an international business, location decision strategies. This is supported by factor rating systems and linear programming This part also examines the sourcing strategies and more specific the overseas outsourcing. This part provides a series of demand management and forecast methods. In this way time series analysis methodologies along with other forecast techniques are analyzed and their demand forecast ability is presented. 5 th Part: Special issue: Global food Crises This part clarifies issues of food security, food safety and food quality while it also examines the impact of a food crisis at a business and country level Learning Outcomes: On successful completion of this course, and for each part students: 1 st Part: International Economics and Trade Analyze trade and investment policies and explain if and why international trade improves the welfare of all countries. Identify the criticisms of classical trade theory and argument over alternative viewpoints of which business and economic forces determine trade patterns between countries. Understand the trade theories of Paul Krugman and Michael Porter.
3 Analyse and evaluate the results of imposed barriers to trade for agricultural products 2 nd Part: Environment Examine the effect of cultures on business Illustrate ways in which cultural risk poses a challenge to the effective conduct of business communications and transactions Analyze the strategies to work with cultural differences Evaluate the different laws regulating international trade Identify political actions of countries that can expose firms to international risks. Identify and manage opportunities for trade offered by emerging market economies 3 rd Part: Marketing Strategy Identify benefits of exporting, Suggest methods to select markets for international expansion, Identify the appropriate strategy for expanding internationally, Analyze and evaluate strategies of regional and global marketing efforts. Analyze the management parameters for the marketing functions: product, price, distribution, and promotion within regional and global markets 4 th Part: Logistics Operations Interpret and handle the main logistics decisions for a business Apply the appropriate methodology to decide about facilities location Analyze the sourcing strategies and more specific the overseas outsourcing. Use a series of demand management and forecast methods. 5 th Part: Special issue: Global food Crises To identify the impact of a food crisis at a business and country level Course Contents: 1 st Part: International Economics and Trade Trade and Investment Policies: Rationale and Goals of Trade and Investment Policies Global Trade Regulation Changes in the Global Policy Environment Policy Responses to Changing Conditions A Strategic Outlook for Trade and Investment Policies The Theory of Trade and Investment: The Age of Mercantilism Classical Trade Theory Factor Proportions Trade Theory
4 International Investment and Product Cycle Theory The New Trade Theory: Strategic Trade The Theory of International Investment International Trade in Agricultural: Barriers to Trade International Market Equilibrium An Example 2 nd Part: Environment Culture: Culture Defined The Elements Of Culture Sources Of Cultural Knowledge Cultural Analysis Making Culture Work For Business Success Politics and Law: The home-country perspective Host-country political and legal environment International relations and laws Economic Integration and Emerging Markets: Levels of Economic Integration Arguments Surrounding Economic Integration Regional Groupings Cartels and Commodity Price Agreements Emerging Markets Barriers to Business Transition Economies The Developing Markets Economic Integration and the International Manager 3 rd Part: Marketing Strategy Beginning International Marketing Activities: Benefits of Exporting For a Small Business? International Market Research Target Market Selection Product and Prices: International product adaptation Export pricing Strategies International promotion and Distribution: International Negotiations Marketing Communication Strategy & Tools Channel Structure & Design Intermediaries Selection
5 Channel Management 4 th Part: Logistics Operations Global Sourcing and Procurement: Outsoursing and overseas outsourcing Strategic sourcing Location, Logistics and Distribution: Main logistics decisions Choosing Location Strategic sourcing Method to choose location Demand Management and Forecasting: Demand management Time Series Analysis Casual relationship forecast Other - empirical forecast methods 5 th Part: Special issue: Global food Crises Food Quality vs Food Safety and food security Monitoring and Assessing the Impact of a Food Crisis Teaching Methods: Power point and articulate presentations, lectures, case studies and exercises. Assessment Methods: Exercises (2) 20% Assignment (1) 20% Final Exam 60% Required Textbook: Authors Title Publisher Year ISBN Michael Czinkota, Iikka A. Ronkainen, Michael H. Moffett International Business 8 th Edition John Wiley & Sons, Inc Recommended Textbooks: Authors Title Publisher Year ISBN Czinkota, Michael R., & Ronkainen, Ilkka A. Robert Jacobs, Richard Chase Norwood, F. B. and Lusk, L. J. International Marketing 10th (tenth) Edition Operations and Supply Chain Management Agricultural marketing and Cengage Learning The Mcgraw- Hill/Irwin Pearson Education, Inc
6 price analysis Krugman P. Obstfeld M. & Melitz M. International Economics (10th Edition) Prentice Hall Αλογοσκούφης Γ. Διεθνής Οικονομική και Παγκόσμια Οικονομία Εκδόσεις Gutenberg Θανοπουλος Γιάννης, Διεθνής Eπιχείρηση (β' έκδοση), περιβάλλον, δομή και προκλήσεις Εκδόσεις Interbooks Πανηγυράκης Γεώργιος Διεθνές Μάρκετινγκ Εκδόσεις Σταμούλης, Αθηνα Schedule of Lectures and Assessment: 12 weeks, 2 exercises, 1 assignment, final exams.
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