Introduction to Global Business
I. Course Prefix/Number: GBS 101
Course Name: Introduction to Global Business
Credits: 3 (3 lecture; 0 lab)
III. Course (Catalog) Description
IV. Learning Objectives
1. Assess aids and barriers to trade provided by government laws and institutions in major trading countries.
2. Prepare cost analysis for different modes of transportation.
3. Demonstrate understanding of terminology and definitions used in global business today.
4. Discuss in general terms international financing, foreign exchange considerations, insurance, and transfer of funds.
5. Prepare quotations for export, how to choose the best distribution channel, how to provide the proper insurance, and how to collect for shipments.
V. Academic Integrity
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.
There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.
Details of the Code of Academic Conduct can be found in the Student Handbook.
VI. Sequence of Topics
2. Export channels. Export through middlemen. Export management companies. Export merchants. Export brokers. Export commission house. Direct export. Export department. Wholly-owned subsidiary. Webb-Pomerene Associations. Export trading companies.
3. Overseas marketing; distribution. Commission representatives; foreign distributors; foreign distributor branches. Joint ventures. Licensing. Pitfalls and how to avoid them. FCIA.
4. Export order and price considerations. Pricing. Barter methods, types. Terms of sale. Preparing quotations. Handling inquiries from over-seas. Proforma invoices. Product modifications.
5. U.S. export controls. Export declarations. Schedule B commodity list. Barriers to trade.
6. Government aids to trade. U.S. government agencies promoting trade. International agencies promoting trade. Foreign trade associations. Generalized System of preferences. GATT (General Agreement On Trade and -Tariffs). Foreign Trade Zones. Bonded warehouses. UNCTAD U.N. Conference on Trade and Development).
7. The export/import department, operations, organization, functions. Transportation overview. Air carriage, conferences. Barges and inland waterways.
8. Review and mid-term exam.
9. Getting paid; terms, conditions, methods. Shipping and collection documents. Time required to collect.
10. Financing. Financing exports; Export/Import Bank; Overseas; Private Investment Corporation; Private Export Funding Corporation; Factoring.
11. Foreign exchange considerations in international trade. Currency fluctuation. Hedging. Which currency to do business in.
12. Warehousing. U.S. import controls. The customs house broker. Generalized System of Preferences. Import Bonds.
13. Protection for the importer. Certificates of inspection. Insurance; marine, air, land.
14. Geo-political considerations. Cultural differences. Political differences. North-South business relations, East-West business relations. Importance of foreign language. Dealing with communist countries.
15. Current issues and trends. Review and questions.
16. Final Exam.
VII. Methods of Instruction
Course may be taught as face-to-face, media-based, hybrid or online course.
VIII. Course Practices Required
2. Writing Assignments
3. Homework Assignments
4. Case Studies
IX. Instructional Materials
Varies by instructor.
X. Methods of Evaluating Student Progress
XI. Other Course Information
B. Each instructor will establish policies with respect to make-up exams, incomplete grades, etc.
If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.