Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


The key objectives of the course are: to introduce the frameworks and tools to analyse global business environment, to introduce various modes of doing business across borders, and to familiarize with the planning, implementation and management of business activities globally. The learning outcomes include:

-        the enhanced awareness of differences in global business environment, including political, regulation and cultural aspects,

-        understanding of the dynamics and suitability of various ways to conduct business in different global business environments, including the adaptation issues,

-     understanding of the related ethical and social responsibility issues,

-        ability to analyse and plan global business activities,

-     problem-solving skills based on real-life cases.

Credits: 6

Schedule: 08.09.2020 - 15.10.2020

Teacher in charge (valid 01.08.2020-31.07.2022): Perttu Kähäri

Teacher in charge (applies in this implementation): Perttu Kähäri, Rilana Riikkinen, Hannu Seristö

Contact information for the course (valid 17.08.2020-21.12.2112):

Professor Hannu Seristö 


Office: BIZ building, Management Studies

Office Hours: upon agreement


Teaching assistant: Emilia Eräpolku


CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):

Teaching language: English

Languages of study attainment: English


  • Valid 01.08.2020-31.07.2022:

    The course provides a theoretically grounded overview of key issues, opportunities and challenges in global business. We shall assess globalization and the consequent changes in firms’ operating environment and analyze the needs to adjust firms’ strategies and operations due to these changes. The course covers key concepts and principles of conducting business in the international dimension, including issues in various functions, such as HR and marketing. The role of politics and regulation are covered, including world trade and regional economic blocs. The premises that various countries provide for companies in terms of competitiveness are analyzed.  Ethical issues as well as social and environmental responsibility are addressed. The purpose of the course is to a) present the most important forces affecting international business today, b) introduce various international strategies, and c) present the ways to organize, coordinate and control international activities

  • Applies in this implementation:

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    Based on assignments and participation.

  • Applies in this implementation:

    Individual assignment - article reflection papers (60%)
    Case study assignment in teams (40%)

    All assignments must be submitted and the final case presentation made in order to get a final grade for the course.

    The general feedback from reflection papers is given to the class during the lecture session, for which the assignment was due. Students also have the opportunity to receive detailed personal feedback by e-mail, phone or by Zoom, outside of lecture hours. Feedback on the case assignment is given to each team on an agreed date, preferably by Zoom, approximately the week after the final sessions of the course.

    Regular class session attendance is expected of all students. Missed sessions need to be compensated by a written assignment given by the lecturer. Students are also expected to be online on time, and they should be prepared to turn on the video during the classes for active participation.

  • Valid 01.08.2020-31.07.2022:

    Contact teaching    30h
    Independent work    130h
    Total    160h (6 ECTS)

  • Applies in this implementation:

    Classroom hours, online 30h

    Class preparation 33h

    Assignments 97h


Study Material
  • Valid 01.08.2020-31.07.2022:

    As indicated in the syllabus.

  • Applies in this implementation:


    Global Business Today, 11th or 10th edition, by Charles W. L. Hill and G. Tomas M. Hult, McGraw-Hill, 2020 or 2018, international edition. The chapters of Hill & Hult assigned for each session refer to the 10th edition.


    Articles assigned for a particular lecture session

    September 17

    Welch, L.S., Gabriel, RGB, & Petersen, B. (2018). Foreign operation methods: Theory, analysis, strategy, 2nd ed. Cheltenham: Edward Elgar Publishing, ch. 2: Theoretical Approaches.

    Robert Grosse (2019). International Trade Policy: A Technical Note. Thunderbird School of Global Management publication TB0567, 17 pages.

    September 22

    Benjamin Rosa, Philippe Gugler & Alain Verbeke (2020). Regional and global strategies of MNEs: Revisiting Rugman & Verbeke (2004). Journal of International Business Studies (published July 2nd 2020)

    September 24

    Menard, A., Ostojic, I., Patel, M. & Volz, D. (2020). A Game plan for quantum computing. McKinsey Quarterly, 8 pages, February 6th 2020.

    Ben-Ner, A. & Siemsen, E. (2017). Decentralization and Localization of Production: The Organizational and Economic Consequences of Additive Manufacturing (3D Printing). California Management Review, 19 pages, March 24th 2017. (HBSP code CMR640-PDF-ENG)

    September 29

    William Kerr (2016): Harnessing the Best of Globalization. MIT Sloan Management Review, vol. 58, No.1. 10 pages. SMR574. Fall 2016.

    Pankaj Ghemawat and Steven Altman (2019): The State of Globalization in 2019 and What It Means for Strategists. Harvard Business Review. HO4RLJ-PDF-ENG 7 pages. February 6, 2019.

    October 6

    Douglas Quackenbos, Richard Ettenson, Martin Roth and Seigyoung Auh  (2016): Does Your Company Have What It Takes to Go Global? Harvard Business Review. 5 pages. April 11, 2016.

    October 8

    Whelan, T., & Fink, C. (2016). The Comprehensive Business Case for Sustainability. Harvard Business Review Digital Articles, 2-8.

Substitutes for Courses
  • Valid 01.08.2020-31.07.2022:

    26C10000 International Business and Strategy

  • Valid 01.08.2020-31.07.2022:

    No prerequisites

SDG: Sustainable Development Goals

    9 Industry, Innovation and Infrastructure

    12 Responsible Production and Consumption

    13 Climate Action


Details on the schedule
  • Applies in this implementation:





    Assignment Due Date


    Tue 08.09.


    Introduction to the course and the cases:

    Business Finland,
    Frogmind, Wärtsilä




    Thu 17.09.


    Global business
    environment: the elements



    Hill & Hult, Ch. 1, 2, 7, 9

    Welch et al. (2018)


    Reflection paper 1



    Tue 22.09.


    Analyzing the
    business environment abroad


    Hill & Hult, Ch. 3, 4, 8

    Rosa et al. (2020)

    Reflection paper 2


    Thu 24.09.


    VUCA world and

    Guest: Dr. Elina

    et al.

    Be-Ner et al. (2017)

    Reflection paper 3


    Tue 29.09.


    Modes of doing
    business internationally

    Guest: Dr. Perttu

    Hill & Hult, Ch. 12, 13, 14, 15

    Kerr (2016)

    Ghemawat et al. (2019)

    Reflection paper 4



    Thu 01.10.


    Feedback session to student groups on the progress of the case study



    Any material you would like to discuss are submitted via MyCourses by 29.9. at 9am.


    Tue 06.10.


    Leading and
    managing business internationally


    Hill & Hult, Ch. 17

    Quackenbos et al. (2016)

    Reflection paper 5


    Thu 08.10.


    Ethics and
    sustainability in international business

    Guest: Dr. Rilana

    Hill & Hult, Ch. 5

    Whelan &


    Reflection paper 6



    Tue 13.10.


    Case presentations


    Team presentations


    Thu 15.10.



    Course summary
    & wrap-up

    Hill & Hult, Ch. 16