Open University validated as BA (HONS) Business Administration: International Business with Combined Studies
The International Business major addresses issues such as setting organizational mission and goals, how to allocate a company's resources, meeting business obligations and fostering social responsibility. It focuses on managing people, diversity in culture, and ways of conducting business in a global marketplace. This concentration prepares students for managerial positions in international profit and nonprofit organizations. Courses cover human and organizational behaviour in the workplace, global financial markets, global marketing,entrepreneurship, social responsibility, and multinational management strategy.
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Degree requirements
The Richmond core course requirements (38-49 credits)
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Lower division requirements (24 credits)
Business Core Course
MGT 100 (3 CREDITS)
Introduction to Business
This course explores the context within which business practice takes place and how external and internal influences facilitate or limit business operations. Legal, political and economic factors shaping business operations at the macro- and micro- levels are considered, as well as the influence of market forces in a rapidly changing economic environment.
Quantitative and Economic Core
MTH 115 (3 CREDITS)
Basic Calculus with Applications
Provides a sound understanding of the basic concepts of calculus and analytic geometry and their applications to business, economics, and the social and natural sciences. Emphasis is on practical applications, with numerous examples, rather than theory and proof. Topics include co-ordinate geometry of straight lines and quadratic curves, differentiation, optimization, and integration. Only one of the following courses may be taken for credit: MTH 114 or MTH 115.
Prerequisite: MTH 105 or equivalent.
ACC 201 (3 CREDITS)
Financial Accounting
An introduction to the accounting model, the measurement and classification of data and terminology essential to effective interpretation and use of financial statements, balance sheets and income statements. Underlying concepts are stressed and they are made concrete with illustrations. While mechanical and procedural details are explored, measurement and communication of data to external parties are emphasized.
Prerequisite: MTH 212.
ACC 202 (3 CREDITS)
Managerial Accounting
This course introduces students to the generation of cost data for the preparation of proper, representative financial statements, and for optimal planning and control of routine operations and long range organizational goals. It focuses on the uses of formal cost accounting systems and quantitative techniques to make managerial decisions. Topics include: direct absorption income statements, job and process costing, allocation and proration, proforma and capital budgeting.
Prerequisite: ACC 201.
ECN 210 (3 CREDITS)
Introduction to Microeconomics
An introduction to basic economic methodology. Within a framework of supply and demand analysis, the behavior of producers and consumers is examined in the context of the efficient allocation of scarce resources in society.
Prerequisite: MTH 105 or a Math Placement Test result exempting the student from completing MTH 105.
ECN 211 (3 CREDITS)
Introduction to Macroeconomics
Macroeconomics deals with global issues and includes a theoretical study of the national income and its component parts. This basic model is used to examine policy issues and contemporary problems relating to income and employment, inflation, growth and international trade and finance.
MTH 212 (3 CREDITS)
Quantitative Methods for Business
Designed primarily for business majors, topics include elementary descriptive statistics, probability, analysis of time series, linear regression and correlation. Only one of the following courses may be taken for credit: MTH 118, MTH 212, MTH/SCL 219.
Prerequisite: MTH 100 or mathematics placement test exemption.
Writing and Information Technology Skills
MGT 205 (3 CREDITS)
Computer Applications in Management
This is an introductory course comprised of a broad overview of information systems and technology, as principally used in support of business processes and decision-making activities. An in-depth discussion of the relationship, between organizations and information systems is a fundamental element of the course. Topics include: computer hardware and software, operating systems, the use of excel in management practice, social issues related to information systems. The use of excel provides a common thread in the topics covered throughout the course.
Prerequisite: MTH 212.
Upper division requirements (51 credits)
Business Core Courses
FNN 301 (3 CREDITS)
Corporate Finance
Examines the financial needs of corporations and the range of mechanisms available to meet them. The concept of the time value of money is studied and applied to several decision models in capital budgeting and investment valuation. Other basic theories of finance examined include risk and return and financial statement analysis. Different financial requirements are examined with an emphasis on a comparison of internal and external sources of funds and their relative availability and cost. Covers topics such as capital budgeting, cost of capital, dividend policy, capital structure, current asset management and portfolio theory.
Prerequisite: ACC 201, ACC 202 and MGT 205.
MGT 301 (3 CREDITS)
Organizational Behavior
This course explores the structure and nature of organisations and the contribution that communication and human behaviour makes to organisational performance. The course will address not only macro level issues relating to the environment and context within which organisations operate, but also the micro level influences of people as individuals and groups, their motivations and operating styles. The management of people for successful organisational performance will be emphasised by considering work environmental factors that facilitate or impede organisational success.
Pre- or co-requisite: MGT 304.
MKT 301 (3 CREDITS)
Principles of Marketing
Introduces students to the principles and operations of marketing. Course work includes an in-depth analysis of the strategic role marketing plays in contemporary business from new product development, marketing research and target marketing to consumer behaviour analysis, advertising and promotion and personal selling activities. Each variable of the marketing mix will be covered in detail and the macro and micro business environment will be assessed for their impact on marketing planning. Lectures, discussion topics, case studies, videos and practical exercises are used to cover the course material.
Prerequisites: For Business Administration majors: Completion of the Richmond core, MGT 205, MTH 212, and MGT 220 or MGT 304. For Communication majors: MGT 100 with a minimum grade achieved of C, and COM 304 (COM 304 may be a corequisite)
MGT 304 (3 CREDITS)
Research Methods
This module introduces the main concepts and techniques involved in research in the field of business and economics. The module develops four main themes: research in context which puts the student as the researcher and as the user of research; research methodology which deals with the nature and limitations of different philosophies of research design e.g. deductive versus inductive approaches and qualitative versus quantitative approaches and the role of literature; research methods which deals with advantages and issues associated with the use of various data collection methods including observation, use of groups, interviewing techniques and questionnaire design; research proposal preparation which deals with issues of planning, literature review, topic selection, access to data, schedules, action plans, writing styles and referencing systems.
Prerequisites: ENG 215, MGT 205, MTH 212
ECN 308 (3 CREDITS)
Managerial Economics
Application of microeconomic decision tools to managerial problems of the firm. Objectives and the determinants of those objectives are studied, including profit, demand, production and cost analysis. Specific topics include marginal decision-making, decision theory, break-even analysis and price determination.
Prerequisite: ECN 210l; ECN 211; MTH 114 or MTH 115; and MTH 118 or MTH 122.
MGT 308 (3 CREDITS)
Legal and Ethical Issues in Management
Concentrates on the legal framework within which most business takes place. Topics include examining how the law impacts business organizations, contracts, and the conduct of business worldwide. The course will examine the rise of the corporation, or more specifically, the multi-national corporation, and the ethical and legal issues that surround the execution of business transactions worldwide. Examples are used of the ways in which statute and judge-made case law has dealt with these problems.
Prerequisite: MGT 220.
Capstone Courses
MGT 401 (3 CREDITS)
Leadership
As a capstone Leadership is designed to give students a firm understanding of the importance of leadership in the development and implementation of organizational strategic vision. From entrepreneurial start-ups to worldwide corporate expansion, the role of the leader is studied as the architect of organizational purpose, inspiring the workforce, and as focal point of organizational change. This course combines the study of leadership as social process involving interaction of leaders and followers in different contexts; an examination of critical thinking, ethics, and analysis of leadership competencies in leading organizations, groups and individuals. It provides background on historical and contemporary issues concerning the role, responsibility, and process of leadership. Differentiation of leadership roles within organizations by structure, size, membership, and mission are analysed. Students use readings, projects, class exercises, and case analyses to examine leadership in diverse settings.
Prerequisite: MGT 304 and Senior Status in Business.
MGT 403 (3 CREDITS)
Competition and Strategy
Provides the capstone course for business majors. It focuses on long-range strategic planning and policy implementation. Early lectures outline the basic strategic planning model, and case study analyzes relate to both the firm’s internal operations and the environment in which it operates.
Prerequisites: Completion of the Business Core Courses and Senior status.
International Business Concentration Courses (seven courses required)
INB 302 (3 CREDITS)
Foreign Trade Policy
Familiarizes students with the most important practical and legal aspects of the foreign trading operation. Financing, insurance, documentation, goods handling and transportation are discussed within the context of an export contract and also under counter trade arrangements. Field trips to commodity exchanges and a research project form a part of this course.
Prerequisite: ECN 210, ECN 211, and MTH 118 or MTH 122 or MTHSCL 129.
INB 304 (3 CREDITS)
Country Risk Analysis
Provides students with an overview of the history, methods, strengths, and limitations of economic and political risk forecasting. Economics and political risk forecasting is defined as a package of social science concepts and methods used by governments and multinational businesses to analyze the future economic and political environments in which they operate. A seminar format with extensive student participation is used.
Prerequisite: ECN 211.
INB 402 (3 CREDITS)
Managing the Multinational Corporation
This is a capstone course for International Business students. It provides a managerial perspective into managing the structure and operations of multinational corporations (MNCs) in the global business environment. Major managerial issues are studied from the MNC’s perspective and the problems of planning and executing business strategies on a global scale are analysed. A capstone project in International Business is required.
Prerequisites: Completion of Lower Division Business Core Courses, MTH 212, INB 302, INB 304, and senior status in business.
plus four of the following:
MGT 305 (3 CREDITS)
Information Systems in Management
Builds upon MGT 205, Computer Applications in Management, and will provide the student with advanced study in the application of computing in the functional areas of management. In addition to advanced use of spreadsheets and databases, this course will provide a examples and applications of the design and implementation of management information systems and information technology in managing organizations.
Prerequisites: MGT 205.
INB 306 (3 CREDITS)
European Business Environment
Focuses on the economic, political and social environment for business in Europe. Within this field, it examines the institutional interplay with the European Union, the contrasting structure of the European economy compared to its major competitors, the single market, the Euro, Foreign Direct Investment, the role of multinationals and the developing EU/Central- Eastern Europe relationship. When offered in Florence there are several course-related visits.
Prerequisite: MGT 100, MTH 115, and ECN 211.
MGT 307 (3 CREDITS)
Operations Management
Provides a theoretical and practical understanding of operations management together with the ability to apply some of its major techniques to practical business problems. It includes operations strategy, materials management, production planning and simulation, network planning, variety reduction, quality assurance, quality circles, purchasing, and problems and opportunities of introducing new technology.
Prerequisite: ACC 202 and MGT 205
MGT 358 (3 CREDITS)
Human Resource Management
Combines elements of different disciplines ranging from industrial relations, social psychology, personnel management, motivation, recruitment and selection, leadership, communication, manpower planning, aspects of training and development and related processes. It is appropriate for those seeking to follow a career in personnel management to those contemplating careers in other areas of functional management.
Prerequisite: MGT 301
FNN 402 (3 CREDITS)
International Finance
The course focuses on the global market and the basics of multinational financial management from an international trade finance perspective. An understanding of multinational finance begins with a mastery of the principles of exchange rates – how they are determined, how they affect the price of goods, and their relationship to interest rates. The course also covers foreign exchange markets, multinational accounting, foreign exchange risk, strategies for managing exchange rate exposure, import and export finance, and multinational financial management.
Prerequisite: FNN 301.
MKT 402 (3 CREDITS)
Global Marketing Management
Provides an insight into the strategic problems and opportunities companies face as they move from local to multinational to global markets. The problems and issues encountered in market entry are highlighted and standardization, contextualization and adaptation strategies are assessed for their appropriateness to new market situations. Students will be expected to understand and be able to implement an environmental approach to strategic international marketing planning. Lectures, case studies, research projects and presentations comprise the teaching format for the course.
Prerequisite: MKT 301.
FNN 404 (3 CREDITS)
The Global Investor
This course examines the role, function and competencies of the Global Investor in terms of portfolio management process. The course will examine the conceptual foundations of portfolio theory as well as practical implementation issues relating to the construction and management of diversified portfolios. Analysis of the modern techniques of portfolio management including the evaluation standards for the selection of individual securities for inclusion or deletion from portfolios. Throughout the course, students will be made aware of the risk-return analysis across a broad range of asset classes, with a practical exercises of how to control at both the instrument and operational levels. This course is essential for all students who wish to participate consciously in global capitalism or wish simply to learn how manage their money over the long term well.
Prerequisites: FNN 301, FNN 302.
ECN 450 (3 CREDITS)
International Economics
Considers international specialization, the development of world trade, commercial policy, balance of payments, foreign exchange rates and payment mechanisms.
Prerequisite: ECN 301 or ECN 308.
INB 483 (3 CREDITS)
Internship in International Business
This program offers upper division students the opportunity to do a full-time internship in London. The experience provides the opportunity to enhance and complement classroom learning and to develop professional skills and competencies. The Internship Program is open to students enrolled in a degree program who have successfully completed 75 credits with a minimum GPA of 2.75. Most London-based multinational corporations require a minimum GPA of 3.0.
Prerequisites: Senior status and permission of adviser.
plus one elective outside the major from the following list:
(NOTE: the chosen course may not act as the student's Level Three CC requirement)
ADM 362 (3 CREDITS)
Pixel Playground
This course focuses on the study of image-making -- both digital and hand-made. Through art and design briefs, students will study and explore color, composition, illustration and visual narratives. This course introduces students to two core visual applications: Adobe Photoshop and Illustrator. No previous experience with design or computers is necessary. This course serves as a prerequisite for most of the ADM digital courses.
COM 460 (3 CREDITS)
PR and Self-Presentation in the Media
This course examines the theory and practice of contemporary public relations. Topics include: planning, the selection and use of appropriate public relations tactics, evaluation, how to handle media interviews and self presentation skills.
As part of the course, students will examine and evaluate a real PR campaign and develop, budget, propose tactics for, evaluate and present a theoretical public relations campaign.
Prerequisite: Senior Status. Study Abroad students may take this course with the permission of the instructor.
ECN 352 (3 CREDITS)
Economics of Transition
This course takes a case study approach to the examination of the challenges of economic transition in its broadest sense. The progression of material covered on the course is from economic theory to the study of policy options adopted by the gloabal multi-lateral lending agencies in the 1980s, 1990s, and to the present day. The case studies used are intended to illustrate the theory and the policy framework discussed. Questions such as what priorities led to the changes in Eastern Europe and whether trade and price liberalization schemes can work and at what cost, will be studied.
Prerequisite: ECN 210 and ECN 211.
INR 310 (3 CREDITS)
Globalization: Power, Networks, and Identity in the New World Order
Combining perspectives from anthropology, sociology, business studies, and international relations, this interdisciplinary course addresses the vitally important and complex phenomenon of contemporary globalization. Topics for discussion include the worldwide diffusion of political, economic, and cultural practices and relations across continents and the organization of social life on a global scale. The course will feature guest lectures and pesentations by recognized experts in various aspects of the globalization process.
PLT 362 (3 CREDITS)
Policy Making in the Globalized World
This course investigates the process of policy-making in modern states. It explores how in the new globalized world governments “import” and “borrow” policy ideas from each other, while analyzing how the different actors – states, bureaucrats, think-tanks, policy-networks, lobby groups, citizens, etc – participate and influence the policy-making process. Through role-play activities (such as writing a political manifesto, advising a President on a foreign-policy issue, or enacting a policy-network in the policy process) students will understand the complexities of policy-making and the challenges that the modern state faces in the era of globalization.
Prerequisite: Junior Status
PLT 384 (3 CREDITS)
Modern China
Examines aspects of China’s history such as the Opium Wars, the downfall of the Empire in 1911, the growth of nationalism and the ensuing civil war, the rise and decline of Maoism and the role of China in world politics, with particular reference to its increasing economic importance.
Prerequisites: Two 100- or 200-level history courses or permission of adviser.
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Degree Planner/GCL form - for students who started in September 2011 or later.
