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Program of Work  - Global Business
Program of Work  - Global Business
Program of Work  - Global Business
Program of Work  - Global Business
Program of Work  - Global Business
Program of Work  - Global Business
Program of Work  - Global Business
Program of Work  - Global Business
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Program of Work - Global Business

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A Program of Work for HSC Business Studies - Global Business

A Program of Work for HSC Business Studies - Global Business

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  • 1. Global Business20% of course time (6 weeks)<br />Principal focus: The focus of this topic is to examine the implications of globalisation on business structure, functions and management.<br />OutcomesThe student:H1.1 explains the impact of the global business environment on business role and structure H1.2 critically analyses the role of business in Australia H2.1 describes and analyses business functions and operations and their impact on business success H2.2 evaluates processes and operations in global business H3.2 evaluates the effectiveness of management in the organisation and operations of business and its responsiveness to change H3.3 analyses the impact of management decision-making on stakeholders H4.1 critically analyses the social and ethical responsibilities of management H4.2 evaluates management strategies in response to internal and external factors H5.1 selects, organises and evaluates information and sources for usefulness and reliability H5.2 plans and conducts an investigation into business to present the findings in an appropriate business format H5.3 communicates business information, ideas and issues, using relevant business terminology and concepts in appropriate forms<br />Assessment: Short answer questions<br />
    • Students learn about:Students learn to:Suggested teaching and learning strategiesGlobalisation nature and trends - growth of the global economy and changes in markets (financial/capital, labour, consumer) trends in global trade since World War II drivers of globalisation – - role of transnational corporations - global consumers - impact of technology - role of government - deregulation of financial markets interaction between global business and Australian domestic business Use existing business case studies to investigate and communicate ideas and issues related to global business.Define globalisation. Class brainstorm on examples of globalisation in everyday life, eg driving to school in German car, drinking coffee from Brazil, emailing relatives in Malaysia. Resources: textbook; http://www.austrade.gov.au/Student-and-teacher-resources/default.aspx ; www.globaleducation.edna.edu.au Interpret data and graphs to demonstrate trends in globalisation and changes n markets, eg data on imports/exports, migration rates, overseas travel, foreign investment etc. Resources: textbook; www.abs.gov.au; Develop a timeline demonstrating trends in global trade. Resource: textbookCreate a mindmap with key points under each driver describing how it promotes globalisation, using examples. Resources: textbook, internet (austrade, edna) In groups, students investigate one of the following driver-specific questions, create a summary handout for class and present findings. A. Many third world countries actively seek TNCs to operate within their borders. Outline the advantages and disadvantages TNCs can bring to a developing country such as Papua New Guinea. (Source: www.hsc.csu.edu.au)B. Describe three technological advances that have allowed world trade to increase. (Source: www.hsc.csu.edu.au)C. Describe three Australian government policies in the last thirty years which have promoted globalisationCase study: examine how an Australian company (chosen by teacher) has been affected by the growth in global business (eg through increased competition, exports, imports, expanding overseas, inputs, labour, efficiency, foreign investment) and discuss the benefits and disadvantages of this global interaction. Global Business StrategyMethods of international expansion - export - foreign direct investment - relocation of production - management contract - licensing/franchises Reasons for expansion- increase sales/find new markets - acquire resources and have access to technology - diversification - minimise competitive risk- economies of scale- cushioning economic cycle- regulatory differences- tax minimisation Use existing business case studies to investigate and communicate ideas and issues related to global business. The focus of these case studies will be to: - select a global business and identify its international targets. - describe and analyse the reasons for its international expansion- explain the strategies used by the business to achieve its targets Define and describe each method of expansion, giving examples. Outline advantages and disadvantages of each method. Resource: textbook. Case study: examine how an Australian company (chosen by teacher) has expanded internationally and describe any difficulties it faced. Resource: company website, company guest speaker.List and describe reasons for expansion. Students to represent information in preferred form to aid recollection, eg create visual poster, song, mnemonic.Case study: further exploration of specified Australian company (above) – analyse reasons for expansion and actual benefits gained from expansion.In pairs, students interview local business owner who sells goods overseas. Prepare a report for the class outlining reasons for and strategies used in the expansion. Present findings orally. (Alternatively, arrange for several local business owners to be guest speakers in class). Specific influences on global business• financial - currency fluctuations - interest rates - overseas borrowing political - tensions between protectionism and free trade - international organisations and treaties (World Trade Organisation) - trade agreements - regionalism - war and civil unrest Use existing business case studies to investigate and communicate ideas and issues related to global business. The focus of these case studies will be to: - explain the influences on this business in the global marketTeacher lead discussion and note taking, using examples, on how the financial factors influence business. Complete textbook activities. Resource: textbookStudents collect news and magazine articles demonstrating the influence of financial factors on global business. Summarise key points. Define and describe protectionism and free trade, using examples. Explore reasons for and against protectionism – create a table. Resources: http://www.wto.org/english/thewto_e/whatis_e/tif_e/fact3_e.htm (WTO: The case for open trade); textbook.Investigate Australia’s trade policies. Resources: http://www.austrade.gov.au/; http://www.dfat.gov.au/trade/; textbook; news and journal articles. Online research: investigate international organisations and treaties, outlining roles and functions. Resources: www.wto.org; http://www.worldbank.org/; www.imf.org; http://www.bis.org/ Extension writing task: to what extent do you agree with the reasons behind anti-WTO protests?List and describe major trade agreements and concept of regionalism and how these affect global business. Resource: textbook. Describe impact of war and civil unrest on global business. Visit DFAT website (www.dfat.gov.au) to explore levels of political risk in other countries. Discuss current examples, eg Bangkok protests. • legal - contracts - dispute resolution - intellectual property Define each term/concept, using examples, and describe the legal obstacles faced by businesses operating internationally. Use scenarios (provided by teacher) to explore these difficulties, eg cross-border dispute resolution, different cultural standards regarding protection of intellectual property rights.• social/cultural - languages - tastes - religion - varying business practices and ethics In groups, students investigate the social/cultural influences affecting business in a chosen country. Prepare poster and present findings orally. Managing Global Business• Financial - methods of payment - credit risks - hedging - derivatives - insurance – obtaining finance • Marketing - research of market - global branding - standardisation and differentiation • Operations - sourcing (vertical integration, make or buy) - global web (components produced in different countries) • Employment relations – - organisational structure - staffing - shortage of skilled labour - labour law variations - minimum standards of labour - ethnocentric/polycentric/geocentric staffing system • Evaluation — strategies with reference to a particular global market • Modifications of strategies according to changes in global market Management Responsibility in a Global Environment• Ethical practice - tax havens and transfer pricing - minimum standards of labour - dumping illegal products - ecological sustainability VUse existing business case studies to investigate and communicate ideas and issues related to global business. The focus of these case studies will be to: - explain the strategies used by the business to achieve its targets Use textbook as reference to write a paragraph describing the financial challenges faced by businesses operating internationally. Complete textbook activities. Online resources for extension work: www.efic.gov.au; www.austrade.gov.au Activity: as marketing executives for a TNC looking to expand into a new country, students (in groups) are to conduct secondary market research into their specified country in relation to a particular product, and prepare a report detailing their findings. Students to brainstorm a list of businesses which use global branding, eg McDonalds, Sony, Nike. Class discussion: Why do businesses use global branding? Define and compare standardisation and differentiation. Complete a table of advantages and disadvantages of both. Find one business which uses a standardised approach and one business which uses a differentiated approach. Explain concept of vertical integration. Discuss the make or buy decision, using examples. Prepare a table of advantages and disadvantages of making vs. buying. Comparative case study: Nike (100% outsourcing) vs. New Balance (manufactures a percentage of its own products). Resources: www.nikebiz.com; http://www.newbalance.com/ Explain concept of global web. Case study: Boeing or Ford. Use textbook as reference to write a paragraph addressing each employment relations dot point. Complete textbook activities. Extension: online research – compare key labour laws in three different countries. How would these variations affect a business operating in these countries? Explain the importance of evaluating strategies. Case study: students investigate evaluation strategy of specified company. Case study: How McDonald’s has modified its strategies according to changes in global market. Explain concepts of tax havens and transfer pricing. Debate: “It is ethical to use tax havens to reduce a company’s tax liability.” Case study: Nike and labour standards. Resources: www.nikebiz.com; http://www.oxfam.org.au/explore/workers-rights/nike (Oxfam on Nike); news and magazine articlesDebate: “Businesses must be socially and environmentally responsible”Activity: write a letter to the CEO of a TNC that is dumping hazardous products in a developing country. Outline the reasons why his/her business should stop dumping the materials. Role play: Can we be globally responsible consumers when buying clothes and shoes? Groups of students represent one of five roles – worker, CEO, environmentalist, NGO worker, activist. Source: http://www.globaleducation.edna.edu.au/globaled/go/pid/1807
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