Enhancement Courses Pathway

Mississippi CTE Unit Plan Resource Page 1 of 94 Title 7: Education K-12 Part 95: Enhancement Courses Pathway I n tern ational Bu s in ess Mississippi Department of Education Program CIP: 52.1101 Course Code: 992308 Direct inquiries to Denise Sibley, MEd Angela Kitchens Instructional Design Specialist Program Coordinator Research and Curriculum Unit Office of Career and Technical Education Mississippi State University Mississippi Department of Education P.O. Drawer DX P.O. Box 771 Mississippi State, MS 39762 Jackson, MS 39205 662.325.2510 601.359.3461 E-mail: denise.sibley@rcu.msstate.edu E-mail: akitchens@mde.k12.ms.us Published by Office of Career and Technical Education Mississippi Department of Education Jackson, MS 39205 Research and Curriculum Unit Mississippi State University Mississippi State, MS 39762 Robin Parker, Curriculum, Instruction, and Assessment Manager Betsey Smith, Curriculum Manager Jolanda Harris, Educational Technologist Kristen Dechert, Editor Amanda Bolan, Multimedia Specialist The Research and Curriculum Unit (RCU), located in Starkville, MS, as part of Mississippi State University, was established to foster educational enhancements and innovations. In keeping with the land grant mission of Mississippi State University, the RCU is dedicated to improving the quality of life for Mississippians. The RCU enhances intellectual and professional development of Mississippi students and educators while applying knowledge and educational research to the lives of the people of the state. The RCU works within the contexts of curriculum development and revision, research, assessment, professional development, and industrial training. The Mississippi Department of Education, Office of Career and Technical Education does not discriminate on the basis of race, color, religion, national origin, sex, age, or disability in the provision of educational programs and services or employment opportunities and benefits. The following office has been designated to handle inquiries and complaints regarding the non-discrimination policies of the Mississippi Department of Education: Director, Office of Human Resources, Mississippi Department of Education, 359 North West Street, Suite 203, Jackson, Mississippi 39201, 601.359.3511. Mississippi CTE Unit Plan Resource Page 2 of 94 Table of Contents Mississippi CTE Unit Plan Resource Page 3 of 94 Acknowledgments The International Business curriculum was presented to the Mississippi Board of Education on October 22, 2010. The following persons were serving on the state board at the time: Dr. Tom Burnham, State Superintendent Mr. William Harold Jones, Chair Mr. Charles McClelland, Vice Chair Ms. Kami Bumgarner Mr. Howell “Hal” N. Gage Dr. O. Wayne Gann Mr. Claude Hartley Ms. Martha “Jackie” Murphy Ms. Rosetta Richards Dr. Sue Matheson Jean Massey, Associate Superintendent of Education for the Office of Career and Technical Education, at the Mississippi Department of Education, assembled a taskforce committee to provide input throughout the development of the International Business Curriculum Framework and Supporting Materials. Members of this taskforce are as follows: Dr. Diane Fisher, Associate Dean and Associate Professor, College of Education and Psychology, University of Southern Mississippi, Hattiesburg, MS Dr. Connie Forde, Professor, Instructional Systems and Workforce Development, Mississippi State University, Starkville, MS Ms. Selena Swartzfager, President, Mississippi Council on Economic Education, Jackson, MS Also, special thanks are extended to the teachers who contributed teaching and assessment materials that are included in the framework and supporting materials. Members who contributed are as follows: Mr. Joe Anthony, Instructor, Business Technology, Clarksdale High School, Clarksdale, MS Ms. Margaret Blue, Chair, Business Technology Department, Biloxi High School, Biloxi, MS Ms. Virginia Cowart, Instructor, Business Technology, Fallin Career & Technology Center, Natchez, MS Appreciation is expressed to the following professional, who provided guidance and insight throughout the development process: Ms. Barbara Travis, Executive Director, Mississippi World Trade Center, Jackson, MS Mississippi CTE Unit Plan Resource Page 4 of 94 Standards Standards are superscripted in each unit and are referenced in the appendices. Standards in the International Business Curriculum Framework and Supporting Materials are based on the following: National Standards for Business Education The National Standards for Business Education are a collection of national standards based on the fundamental knowledge and skills needed to succeed in business. The international business standards of the National Standards for Business Education focus on applying international concepts to other business content areas. Copyright 2007. National Business Education Association. Common Core State Standards Initiative The Common Core State Standards provide a consistent, clear understanding of what students are expected to learn, so teachers and parents know what they need to do to help them. The standards are designed to be robust and relevant to the real world, reflecting the knowledge and skills that our young people need for success in college and careers. With American students fully prepared for the future, our communities will be best positioned to compete successfully in the global economy. Copyright 2010. National Governors Association Center for Best Practices and Council of Chief State School Officers. All rights reserved. States and territories of the United States as well as the District of Columbia that have adopted the Common Core State Standards in whole are exempt from this provision and no attribution to the National Governors Association Center for Best Practices and Council of Chief State School Officers is required. Reprinted from http://www.corestandards.org/. National Educational Technology Standards for Students Reprinted with permission from National Educational Technology Standards for Students: Connecting Curriculum and Technology, Copyright 2007, International Society for Technology in Education, 800.336.5191 (U.S. and Canada) or 541.302.3777 (International), iste@iste.org, www.iste.org. All rights reserved. Permission does not constitute an endorsement by ISTE. 21st Century Skills and Information and Communication Technologies Literacy Standards In defining 21st-century learning, the Partnership for 21st Century Skills has embraced five content and skill areas that represent the essential knowledge for the 21st century: global awareness; civic engagement; financial, economic, and business literacy; learning skills that encompass problem-solving, critical-thinking, and self-directional skills; and Information and Communication Technology literacy. Mississippi CTE Unit Plan Resource Page 5 of 94 Preface Secondary Career and Technical Education programs in Mississippi are faced with many challenges resulting from sweeping educational reforms at the national and state levels. Schools and teachers are increasingly being held accountable for providing true learning activities to every student in the classroom. This accountability is measured through increased requirements for mastery and attainment of competency as documented through both formative and summative assessments. The courses in this document reflect the statutory requirements as found in Section 37-3-49, Mississippi Code of 1972, as amended (Section 37-3-46). In addition, this curriculum reflects guidelines imposed by federal and state mandates (Laws, 1988, ch. 487, §14; Laws, 1991, ch. 423, §1; Laws, 1992, ch. 519, §4 eff. from and after July 1, 1992; Carl D. Perkins Vocational Education Act IV, 2007; and No Child Left Behind Act of 2001). Mississippi CTE Unit Plan Resource Page 6 of 94 International Business Executive Summary Course Description The International Business course is designed to introduce students to basic business operations surrounding global trade. Competencies for this course focus on raising awareness of the interrelatedness of one country’s political policies and economic practices on another; learning to improve international business relations through appropriate communication strategies; understanding the global business environment; exploring basic concepts underlying international finance, management, marketing, and trade relations; and identifying forms of business ownership and international business opportunities. Industry Certification No industry certification is available for this course at this time. Student Prerequisites In order for students to be able to succeed in the entrepreneurship program, the following student prerequisites are in place: 1. C or higher in English (the previous year) 2. C or higher in Pre-Algebra 3. Instructor approval or 1. TABE Reading Score (Eighth grade or higher) or 1. Instructor approval Licensure Requirements Educators that meet the requirements for endorsement codes 955, 956, or 952 are eligible to teach International Business. For information on the requirements for obtaining an endorsement in 955, 956, or 952, refer to the Mississippi Department of Education Office of Educator Licensure Guidelines and Clarification of Requirements for Issuance of Career and Technical Education (Occupational Educator). This guide can be found on the Mississippi Department of Education Office of Educator Licensure Web site under Vocational Guidelines (http://www.mde.k12.ms.us/ed_licensure/post_secondary.html). Professional Learning The professional learning itinerary for the middle school or individual pathways can be found on the Mississippi State University Research and Curriculum Unit’s Web site (http://www.rcu.msstate.edu/). If you have specific questions about the content of each training session provided, please contact the Research and Curriculum Unit at 662.325.2510 and ask for a professional learning specialist. Mississippi CTE Unit Plan Resource Page 7 of 94 International Business Course Outline One Carnegie Unit Course Code: 992308 Unit Number Unit Name Hours Foundations of International Business Global Business Ownership and Entrepreneurship The Global Business Environment International Business Communication, Ethics, and Social Responsibility International Management International Marketing International Finance Total Mississippi CTE Unit Plan Resource Page 8 of 94 International Business Research Synopsis Introduction Most careers in international business are related to foreign trade. As international trade and foreign investment continues to grow both nationally and in Mississippi, most careers will require employees to have the skills and knowledge needed to work in an international setting. Both large and small and medium-sized enterprises engage in international business to some degree. Although international business is often associated with the business cluster, a course in international business could be beneficial to students in all career clusters. Nearly 318,000 jobs in Mississippi depended on foreign trade and investment in 2008. Trade-related jobs in the state grew five times faster than total employment between 2004 and 2008. In 2008, Mississippi sold products in nearly 180 foreign markets (Business Roundtable, 2010). Mississippi jobs tied to trade include wholesale and retail trade; manufacturing; transportation and warehousing; finance and insurance; information; and professional, scientific, and technical services. Most internationally oriented jobs in the business cluster involve marketing, sales, finance, operations, and strategic planning. Occupational title Employment Projected employment Change 2011–2019 Mean annual wage (in dollars) Number Percent Management 123,516 133,087 9,571 8% $22.15 Business and financial operations 44,934 53,811 8,877 20% $20.08 Computer and mathematical science 12,095 14,244 2,149 18% $23.98 Sales and related 171,914 190,047 18,133 11% $13.16 Production 110,242 118,064 7,822 7% $14.31 Transportation and material moving 101,972 108,775 6,803 7% $14.25 Source: EMSI Complete Employment - First Quarter, 2011 Perkins IV Requirements The International Business curriculum meets the Perkins IV requirement of ensuring that career and technical programs strengthen the focus on responsiveness to the economy and are up-to-date with the needs of business and industry. This course also develops high-demand skills within the context of foreign trade; international economics; and diverse political, cultural and legal systems. International Business can be included as Mississippi CTE Unit Plan Resource Page 9 of 94 part of a sequence of courses for most Career and Technical Education (CTE) programs because it provides students with challenging academic standards and relevant technical knowledge and skills they need to prepare for further education and careers in current or emerging professions in the global environment (see Pathway Maps below). Entrepreneurship and Free Enterprise An entire unit in the International Business curriculum is devoted to global business development and entrepreneurship. Pathway Maps Management http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Business_Management_and_Administration/[S]_Management_[2008]_Career _Pathway_Maps.pdf Marketing http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Marketing/[S]_Marketing_[2008]_Career_Pathway_Maps.pdf Engineering http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Science_Technology_Engineering_and_Mathematics/[S]_Engineering_[2009]_ Career_Pathway_Maps.pdf Polymer Science http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Science_Technology_Engineering_and_Mathematics/[S]_Polymer_Science_[20 10]_Career_Pathway_Maps.pdf Information Technology http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Information_Technology/[S]_Information_Technology_[2009]_Career_Pathwa y_Maps.pdf Industrial Maintenance http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Manufacturing/[S]_Industrial_Maintenance_[2009]_Career_Pathway_Maps.pd f Culinary Arts http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Hospitality_and_Tourism/[S]_Culinary_Arts_[2008]_Career_Pathway_Maps.pd f Health Sciences http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Health_Science/[S]_Health_Sciences_[2008]_Career_Pathway_Maps.pdf Teacher Academy http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Education_and_Training/[S]_Teacher_Academy_[2008]_Career_Pathway_Map s.pdf Digital Media Technology http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Arts_Audio- Video_Technology_and_Communications/[S]_Digital_Media_Technology_[2009]_Care er_Pathway_Maps.pdf HVAC http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Architecture_and_Construction/[S]_HVAC_[2009]_Career_Pathway_Maps.pdf Construction http://www.rcu.msstate.edu/Portals/1/Documents/Public/CUR/Curriculum/Career_Pa thways/Architecture_and_Construction/[S]_Construction_Technology_(Carpentry)_[20 08]_Career_Pathway_Maps.pdf Mississippi CTE Unit Plan Resource Page 10 of 94 Curriculum Content Summary of Standards The standards to be included in the International Business curriculum are the Common Core standards for English language arts and mathematics, 21st-century skills, the National Educational Technology Standards (NETS) for Students, and The National Standards for Business Education. Combining these standards to create this document will result in highly skilled, well-rounded students who are prepared to enter a secondary academic or career and technical program of study. They will also be prepared to academically compete nationally as the Common Core standards are designed to prep students for success in college and careers. Academic Infusion Suggested learning strategies in the International Business curriculum were developed with the Common Core standards in mind. Skills associated with the language arts are enhanced through research and presentation projects. The finance portion of this curriculum provides several opportunities for focus in mathematics, as it requires several calculations and critical thinking. Additionally, analyzing economic data gives students experience interpreting statistics and problem solving. The Common Core Crosswalk for International Business in Appendix E shows the alignment of the Common Core standards to each unit. Best Practices Innovative Instructional Technologies The International Business curriculum includes teaching strategies that incorporate current technology. Students will conduct research using resources available on the Internet and use application software to analyze data, write reports, and present information. To make use of the latest online communication tools, such as wikis, blogs, and podcasts, the classroom teacher is encouraged to use a learning-management system, for example, the Blackboard Content Management System, that introduces students to education in an online environment and places the responsibility of learning on the student. Differentiated Instruction Students learn in a variety of ways. Some are visual learners, needing only to read information and study it to succeed. Others are auditory learners, thriving best when information is read aloud to them. Still others are Mississippi CTE Unit Plan Resource Page 11 of 94 tactile learners, needing to participate actively in their learning experiences. Add the student’s background, emotional health, and circumstances, and a very unique learner emerges. To address this, the International Business curriculum is written to include several instructional methods by using the Understanding by Design approach. This method of instructional design leads students to a deeper understanding of course material and provides multiple opportunities for students to succeed in different ways. Many activities are graded by rubrics that allow students to choose the type of products they will produce. By providing various teaching and assessment strategies, students with various learning styles can succeed. Career and Technical Education Student Organizations Both the DECA and Future Business Leaders of America-Phi Beta Lambda (FBLA-PBL) are appropriate student organizations for students interested in international business. DECA prepares emerging leaders and entrepreneurs in marketing, finance, hospitality, and management in high schools and colleges around the globe. FBLA is a business education association that prepares students for careers in business. Conclusions With 95% of the world’s consumers living outside the United States, engaging in international business is one of the most important factors for a businessperson to consider in order to gain more financial strength and stability for his or her company. Much of the U.S. economy is dependent on foreign trade and investment. A course in international business will provide students with an understanding of the global work environment as well as a better understanding of the impact international trade has on the economy. Works Cited Business Roundtable. (2010, January 1). Studies and Resources. Retrieved from Business Roundtable: http://businessroundtable.org/studies-and-reports/trade-creates-jobs-for-mississippi/ Mississippi CTE Unit Plan Resource Page 12 of 94 Professional Organizations DECA Central High School Bldg, Suite 202A 359 North West Street P.O. Box 771 Jackson, MS 39205 Phone: 601.576.5010 Fax: 601.354.7788 http://www.deca.org/ Future Business Leaders of America Central High School 359 North West Street P.O. Box 771 Jackson, MS 39205-0771 Fax: 601.354.7788 Phone: 601.576.5011 http://www.fbla-pbl.org/ Phi Beta Lambda 500 Greymont Building, Suite H P.O. Box 771 Jackson, MS 39205-0771 Phone:(601) 576-5011 Fax:(601) 354-7788 http://www.fbla-pbl.org/ Mississippi CTE Unit Plan Resource Page 13 of 94 Using this Document Unit Number and Title Suggested Time on Task An estimated number of clock hours of instruction that should be required to teach the competencies and objectives of the unit. A minimum of 140 hr of instruction is required for each Carnegie unit credit. The curriculum framework should account for approximately 75–80% of the time in the course. Competencies and Suggested Performance Indicators A competency represents a general concept or performance that students are expected to master as a requirement for satisfactorily completing a unit. Students will be expected to receive instruction on all competencies. The suggested performance indicators represent the enabling and supporting knowledge and performances that will indicate mastery of the competency at the course level. Suggested Teaching Strategies This section of each unit indicates research-based strategies that can be used to enable students to master each competency. Emphasis has been placed on strategies that reflect active learning methodologies. Teachers should feel free to modify or enhance these suggestions based on needs of their students and resources available in order to provide optimum learning experiences for their students. Suggested Assessment Strategies This section indicates research-based strategies that can be used to measure student mastery. Examples of suggested strategies include rubrics, class participation, reflection, and journaling. Again, teachers should feel free to modify or enhance these suggested assessment strategies based on local needs and resources. Integrated Academic Topics, 21st-Century Skills, Information and Communication Technology Literacy Standards, ACT College Readiness Standards, and Technology Standards for Students This section identifies related academic topics as required in the Subject Area Testing Program in Algebra I, Biology I, English II, and U.S. History from 1877, which are integrated into the content of the unit. Research-based teaching strategies also incorporate ACT College Readiness standards. This section also identifies the 21st-century skills and Information and Communication Technology Literacy skills. In addition, national technology standards for students associated with the competencies and suggested objectives for the unit are also identified. References A list of suggested references is provided for each unit. The list includes some of the primary instructional resources that may be used to teach the competencies and suggested objectives. Again, these resources are suggested, and the list may be modified or enhanced based on needs and abilities of students and on available resources. Mississippi CTE Unit Plan Resource Page 14 of 94 Unit 1: Foundations of International Business Understandings and Goals Enduring Understandings In this unit, the student will: • Understand the role international business plays in shaping the global economy • Understand the impact international trade has on businesses at the local, state, national, and international levels Essential Questions • How are individuals affected by international business? • What factors influence a country’s decision to engage in international trade? Vocabulary Identify and review the unit vocabulary. Culture Domestic Business Exports Global Dependency Globalization Imports International Business Least Developed Country Developing Country Developed (Industrialized) Country Trade Barriers Mississippi CTE Unit Plan Resource Page 15 of 94 Suggested Learning Experiences Competency 1: Explain the role of international business. (DOK3, CCR3, CCR7, CCW2, CCW7, CCW8, CCW9, CCSL1, CCSL2, CCSL4, CCSL6, CCL4, CCM3) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Identify business opportunities in countries in various levels of economic development. (A, C, EN,EP, IB, MK) a. Use the How Global is Your Portfolio lesson at http://www.econedlink.org/lessons/index.php?lid=918&type=educator to help students connect economics and geography as they investigate global companies in the stock market. Have students create a continuum line with least developed on one end and most developed on the other end and developing in the middle (this could be on a bulletin board). Determine which indicators will be used to determine each level of development. Divide students into two groups: less-developed countries and most developed countries. Each group will need to find countries that fit into its category. The number of countries a group finds will be dependent on the total number of students in the class. Have students write each country’s name on an index card. Have students draw a card from each category. Have students write their names on the index card under the country name. Have students research economic development in each of their countries and have them place their countries along the continuum line based on their levels of development. Have students begin gathering information for a research report on their countries. This research report will go into their portfolios (see Performance Task below). a. Observation, Participation Rubric Group Work Assessment Rubric Venture Ideas Questionnaire b. Identify examples of international trade in the local and state communities. (C, EP, EN, EP, IB, M, IT) b. Visit the Mississippi World Trade Center Web site http://www.mswtc.org/ and discuss resources that can be found at this site. Have students identify local and state businesses that engage in international trade and present their findings to the class. Have them complete the reflection exercise. b. Assessment Rubric for Student Reflections Competency 2: Analyze how international business impacts business at all levels, including local, state, national, and international levels. (DOK3, CCR3, CCR7, CCW2, CCW7, CCW8, CCW9, CCSL1, CCSL2, CCSL4, CCSL6, CCL4, CCM3) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Explain the impact of international business activities on the local, regional, national, and international a. Use The Trading Game lesson at http://www.econedlink.org/lessons/index.php?lid=855&type=educator to teach how we gain from trade. Have students play The Trading Game. Students will report on historical developments to illustrate the past experiences of the United States’ role in international trade and to a. Observation, Participation Rubric Written Report Mississippi CTE Unit Plan Resource Page 16 of 94 levels. (C, CP, EP, EN, EP, IB, M, IT, T1, T2, T3, T4, T5, T6) describe the impact of international business on local, regional, and national levels. Have students prepare a graph representing total state and national imports and exports over the past 12 months. Assessment Rubric b. Understand the importance of international business and its influence on careers and businesses at the local, state, national, and international levels. ( C, EP, EN, IT, IB, MK, T1, T2, T3, T4, T5, T6) b. Students will participate in mock interviews with key business resource people from various cultures for specific careers and prepare applications and other job application documents for various cultures. b. Role Play or Skit Assessment Rubric Performance Task Throughout the course, each student will be developing an international business portfolio. The portfolio will consist primarily of a research report, an international business plan, and a code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, each student should have a completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Preliminary Research for Report on Countries In this unit, you will begin researching two countries from each stage of development: least developed and most developed. In the continuum line activity, you were assigned two countries—one developed and one least developed. Approach this research as if you are planning to do business in each country. At this phase of your report, you will gather general information about the country for the Body section of your report. You can include information about your country’s economic conditions, type of government, geographic location, demographics, and culture. You need to organize this information under subtitles. At this point, include any information that you think is useful. You will have the opportunity throughout this course to modify your report. A good resource for finding this information is Global Edge (http://globaledge.msu.edu/). You may use other resources as well. Attachments for Performance Task Use the Report Writing Format document and Report Rubric in Appendix A. Mississippi CTE Unit Plan Resource Page 17 of 94 Unit Resources Book: Dlabey, L., & Scott, J. (2008). International business (4th ed.). Mason, OH: South-Western Cengage Learning. Online: Aneki. (2011). http://www.aneki.com/ This site details county records and ratings information. California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and finance technology education frameworks 2009 international business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 EconEdLink. (2011). How global is your portfolio. Retrieved from http://www.econedlink.org/lessons/index.php?lid=918&type=educator This engaging lesson challenges students to connect economics and geography as they investigate global companies in the stock market. globalEDGE.(2011). http://globaledge.msu.edu/ Created by the International Business Center at Michigan State University, globalEDGE is an international business web portal with a wealth of information, insights, and learning resources on global business activities. Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. http://nbea.org/newsite/curriculum/index.html One World – Nations Online. (2011). http://www.nationsonline.org/oneworld/index.html United Nations. Millennium development goals indicators. (n.d.). http://unstats.un.org/unsd/mdg/Data.aspx Mississippi CTE Unit Plan Resource Page 18 of 94 Unit 2: Global Business Ownership and Entrepreneurship Understandings and Goals Enduring Understandings In this unit, the student will: • Understand the benefits and risks of international business • Understand the role of small business and entrepreneurship in the global economy Essential Questions • Why do businesses expand to the global marketplace? • What factors influence the method a company uses to get involved in international business? Vocabulary Identify and review the unit vocabulary. Corporation Direct Exporting Foreign Direct Investment Franchise Indirect Exporting Joint Venture Licensing Management Contract Matchmaker Program Microcredit Multinational Company or Corporation (MNC) Partnership Sole Proprietorship Turnkey Project Wholly Owned Subsidiary Mississippi CTE Unit Plan Resource Page 19 of 94 Suggested Learning Experiences Competency 1: Identify forms of business ownership and entrepreneurial opportunities. (DOK3, CCR3, CCR7, CCR10, CCW2, CCW3, CCW4, CCW7, CCW8, CCW9, CCSL1, CCSL2, CCSL4, CCSL6, CCL5, CCM3) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Analyze various forms of business ownership (e.g., sole proprietorship, corporation, partnership) for different international business situations. (A, B, C, EP, EN, IB, M, MK, T1, T2, T3, T4, T5, T6) a. Discuss the various forms of business ownership and advantages and disadvantages of each. Provide students with a list of advantages and disadvantages of sole proprietorships, partnerships, and corporations. For each item in the list, have students decide if it is an advantage or disadvantage of a sole proprietorship, partnership, or corporation. (Some items may be an advantage or a disadvantage of more than one form of business organization.) a. Advantages and Disadvantages of Sole Proprietorships, Partnerships, and Corporations Chart b. Identify potential new international business ventures for locally based companies. (A, B, C, CO, CP, EP, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) b. Discuss with students the enterprises that have the highest potential for growth: health care services, environmental services, training and education, and personal services. Invite a speaker who is knowledgeable about international business opportunities in Mississippi (i.e., executive director of the Mississippi World Trade Center) to speak to the class. Discuss the sections of a business plan. Have students work in groups to identify three specialties in each of the types of enterprises discussed above. Have each student create his or her own business based on the information he or she found. Have students prepare the Business Description and Organizational Structure sections of a business plan for their portfolios (refer to the Performance Task Below). b. Group Work Assessment Rubric Speaker Rubric c. Differentiate between low-risk and high-risk methods for getting involved in international business. (A, B, C, CO, CP, EP, EN, IT, IB, M, MK) c. Discuss low-risk and high-risk methods for getting involved in international business. Have students create a graphic that orders the methods for getting involved in international business based on the level of risk (i.e., stair steps). c. Drawing Rubric Performance Task Throughout the course, each student will be developing an International Business portfolio. The portfolio will consist primarily of a research report, an international business plan, and code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, students should have a Mississippi CTE Unit Plan Resource Page 20 of 94 completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Starting an International Business Plan In this unit, you will begin gathering information for the Introduction and Analysis of the International Business Situation sections of the international business plan that will go in your portfolio. In this unit, you will determine the type of business you want to start based on the types of enterprises that have the highest potentials for growth. Approach this task as if you are writing a business plan for the business you will be conducting in your two foreign countries. Attachments for Performance Task Refer to the International Business Plan Format Guidelines and International Business Plan Rubric in Appendix A. Mississippi CTE Unit Plan Resource Page 21 of 94 Unit Resources Books: Dlabey, L., & Scott, J. (2008). International business (4th ed.). Mason, OH: South-Western Cengage Learning. Allen, K., & Meyer, E. (2006). Entrepreneurship and small business management. Woodland Hills, CA: Glencoe/McGraw-Hill. Online: California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and Finance Technology Education Frameworks 2009 International Business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. http://nbea.org/newsite/curriculum/index.html Mississippi CTE Unit Plan Resource Page 22 of 94 Unit 3: The Global Business Environment Understandings and Goals Enduring Understandings In this unit, the student will: • Understand the interrelatedness of the social, cultural, political, legal, and economic factors that shape and impact the global business environment • Understand the relationship between the balance of trade and the import/export process Essential Questions • How do social and cultural factors influence international business activities? • Why do some government regulations have the potential to discourage international trade? • What economic systems determine what to produce, how it is produced, and for whom it is produced in a country? Vocabulary Identify and review the unit vocabulary. Balance Of Trade Democracy Duty Embargo Export Foreign Debt Import Infrastructure Passport Political System Quota Social Responsibility Totalitarian Trade Barriers Visa Work Visa Mississippi CTE Unit Plan Resource Page 23 of 94 Suggested Learning Experiences Competency 1: Describe factors that shape and impact the international business environment. (DOK4, CCR3, CCR7, CCR9, CCW2, CCW3, CCW7, CCW8, CCW9, CCSL1, CCSL4, CCL3, CCL4, CCL5, CCM3) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Identify distinctive social and cultural factors affecting business activities (e.g. time, workday, workweek, schedules, and holidays). ( C, CO, EP, EN, IB, M, T1, T2, T3, T4, T5, T6) a. Students will participate in a forum to compare and contrast social roles of various cultures, e.g., time, workday, workweek, schedules, and holidays. a. Observation, Discussion Rubric b. Describe how trade barriers, tariffs, quotas, and taxation policies affect choice of location for companies operating internationally. ( B, EP, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) b. Explain how different people have different points of view about specific government actions that affect international business. Have students research countries for which the United States imposes economic sanctions and discuss their findings in a group. Mississippi World Trade Center: http://www.mswtc.org/index.php, U.S. State Department: http://www.state.gov, and The World Bank: http://www.worldbank.org/ b. Observation, Discussion Rubric c. Recognize legal and political factors that exist between and among countries and the impact they have on international business investment. (A, B, CP, EP, EN, IT, IB, T1, T2, T3, T4, T5, T6) c. Have students research the country profiles of the two countries they selected in Unit 1. Have them identify potential political, social, and economic risks and complete the Risk Assessment Activity in Appendix A. Country profiles can be found at http://www.state.gov. Give students the opportunity to revise their research papers if they find additional information. c. Evaluate the career project for content and delivery. Competency 2: Relate balance of trade concepts to the import/export process. (DOK4, CCR3, CCR7, CCW2, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL4, CCL4, CCM3) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Analyze the availability of resources and economic potential in various countries. (A, B, C, CP, EP, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) a. Have students research the economic situation, labor situation, availability of natural resources, and infrastructure of the two countries they were assigned in Unit 1. Have students analyze their findings and recommend potential business ventures in their countries. The information can be found at U.S. State Department: http://www.state.gov and The World a. Decision Rubric Mississippi CTE Unit Plan Resource Page 24 of 94 Bank: http://www.worldbank.org/ b. Identify goods and services imported to or exported from a country. (A, B, C, CP, EP, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) b. Have students identify goods and services imported to and exported from Mississippi to or from a foreign country. Have students analyze this information and determine which, if any, imports or exports pose a threat to local businesses and report their findings. Good resources for information are the Mississippi World Trade Center (http://www.mswtc.org/index.php) and http://export.gov/ b. Written Report Assessment Rubric c. Describe the role that U.S. Customs and the customs agencies of other countries play in international trade activities. ( B, , EP, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) c. Have students visit the U.S. Customs and Border Protection Web site (http://www.cbp.gov/) or The Internationalist site (http://www.internationalist.com/business/) and have them list and discuss five interesting facts they retrieved from this site. c. Discussion Rubric d. Explain the purpose of international trade agreements and treaties (e.g., GATT, NAFTA). ( B, , EP, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) d. Discuss the purpose of the World Trade Organization and have students visit the WTO Web site (http://www.wto.org/index.htm) and find information on Disputes by Agreement. Have them choose one of the disputes and then read the detailed information about the dispute and report their findings (see WTO Dispute Settlement Worksheet in Appendix A). d. Written Report Assessment Rubric Performance Task Throughout the course, each student will be developing an International Business Portfolio. The portfolio will consist primarily of a research report, an international business plan, and a code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, students should have a completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Update Business Plan and Report Update your report and the Introduction and Analysis of International Business Situation sections of your business plan with any new information you found while conducting research on the global business environment. Attachments for Performance Task Refer to the International Business Plan Format Guidelines in Appendix A. Mississippi CTE Unit Plan Resource Page 25 of 94 Book: Dlabey, L., & Scott, J. (2008). International Business (4th ed.). Mason, OH: South-Western Cengage Learning. Online: California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and finance technology education frameworks 2009 international business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. http://nbea.org/newsite/curriculum/index.html Mississippi CTE Unit Plan Resource Page 26 of 94 Unit 4: International Business Communication, Ethics, and Social Responsibility Understandings and Goals Enduring Understandings In this unit, the student will: • Understand the communication strategies necessary and appropriate for effective and profitable international business relations • Understand the factors that define what is considered socially responsible and ethical and business behavior in a global business environment Essential Questions • How does communication in international business differ from communication in a domestic business? • What is the difference between ethics and social responsibility? Vocabulary Identify and review the unit vocabulary. Body Language Collectivism Contexting Cultural Baggage Culture Culture Shock Ethics Ethnocentrism Host Country Individualism Social Responsibility Subculture Mississippi CTE Unit Plan Resource Page 27 of 94 Suggested Learning Experiences Competency 1: Apply communication strategies in international business relations. (DOK3, CCR6, CCR7, CCR9, CCW1, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Apply communication strategies necessary and appropriate for effective and profitable international business relations. ( C, CO, EN, IB, M, MK, T1, T2, T3, T4, T5, T6) a. Have students take one of the cultural awareness quizzes located at http://www.kwintessential.co.uk/resources/culture- tests.html Discuss the importance of researching a country’s culture, language, and traditions to avoid business blunders. Read Cross-Cultural Business Blunders located in Appendix A. Have students research their countries’ cultures at http://www.kwintessential.co.uk/resources/country- profiles.html Have students retake the cultural awareness quiz they took earlier and write a reflection about what they learned at http://www.kwintessential.co.uk/resources/culture- tests.html a. Observation, Participation Rubric Assessment Rubric for Student Reflections Competency 2: Describe the factors that define what is considered socially responsible and ethical business behavior in a global business environment. (DOK3, CCR6, CCR7, CCR9, CCW1, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Analyze factors that affect ethical behavior and their implications in business decision making. ( C, CO, IB, M, T1, T2, T3, T4, T5, T6) a. Discuss the factors that affect ethical behavior in businesses. Have students read an ethical dilemma case study and have them determine if individual, social, or organizational beliefs are being challenged. They could have more than one belief in some case studies. Case studies are located in Appendix A. a. Case Study Assessment Rubric b. Understand procedures for developing a code of ethics and apply ethical codes to various business situations. (B, C, CO, EP, EN, IB, M, MK, T1, T2, T3, T4, T5, T6) b. Explain that a code of ethics is a written guide to acceptable and ethical behavior as defined by an organization and that codes of ethics vary between countries because they are culture driven, making it difficult for managers to adhere to a strict code of ethics in each market. Divide students into groups. Students research key global ethical issues and the intercultural dimensions of b. Observation, Participation Rubric Code of Ethics – Sample Mississippi CTE Unit Plan Resource Page 28 of 94 the United States and two other countries. Each group drafts an international code of ethics based on its findings. Have each group present its code to the class. Ask group members to determine which codes would be unacceptable for the countries they researched and explain why. This website provides research on national and organizational cultures. http://www.geert- hofstede.com/hofstede_dimensions.php Have the class compile an International Code of Ethics based on the input from the class and discuss the challenges with trying to create one global code of ethics. c. Identify issues related to ethical and social responsibility in the global marketplace. (C, CO, EP, EN, IB, M, MK, T1, T2, T3, T4, T5, T6) c. Explain that social responsibility involves contributions a company makes to a country, such as creating jobs and improving infrastructure. Social responsibility is important for good business and improving living conditions of a country’s people. Have students analyze their chosen businesses for key ethical issues. Have students list ways their companies can show social responsibility in each of the areas of education, employment, environment, and technology in their two countries. Have students discuss the role social responsibility plays in developing a code of ethics. c. Code of Ethics – Sample Performance Task Throughout the course, each student will be developing an International Business portfolio. The portfolio will consist primarily of a research report, an international business plan, and a code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, students should have a completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Create a Code of Ethics In this unit, you created a list of socially responsible contributions your company will make to each of your countries and you analyzed key ethical issues in your chosen business. Create a code of ethics for your business that addresses specific areas that need ethical guidance. Put your code of ethics in the Appendix of your business plan. Be sure to take social responsibility into account as you create your code(s). As you progress through the units, you will be exposed to new online resources from which you may discover new information about your countries. Modify your business plan, research report, and code of ethics whenever necessary. Mississippi CTE Unit Plan Resource Page 29 of 94 Attachments for Performance Task Refer to Code of Ethics – Sample in Appendix A. Mississippi CTE Unit Plan Resource Page 30 of 94 Unit Resources Book: Dlabey, L., & Scott, J. (2008). International business (4th ed.). Mason, OH: South-Western Cengage Learning. Online: California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and finance technology education frameworks 2009 international business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 Itim International. (2009). Geert Hofstede cultural dimensions. Retrieved from http://www.geert- hofstede.com/hofstede_dimensions.php Kwintessential. (2010). How culturally aware are you? Retrieved from http://www.kwintessential.co.uk/resources/culture-tests.html Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. Retrieved from http://nbea.org/newsite/curriculum/index.html Mississippi CTE Unit Plan Resource Page 31 of 94 Unit 5: International Management Understandings and Goals Enduring Understandings In this unit, the student will: • Understand why managers face special challenges in operations, human resources, and strategic management in international business Essential Questions • What factors influence production processes, operations, and managerial styles in international business? Vocabulary Identify and review the unit vocabulary. Automated Production Computerized Production Cost of Living Index Ethnocentric Approach Expatriate Manager Geocentric Approach Inventory Control Job Description Manual Production Operations Management Outsourcing Parent-Country Nationals Polycentric Approach Production Possibilities Schedule Production Process Regiocentric Approach Repatriation Third-Country Nationals Supply Chain Transformation Mississippi CTE Unit Plan Resource Page 32 of 94 Suggested Learning Experiences Competency 1: Analyze special challenges in operations, human resources, and strategic management in international business. (DOK3, CCR6, CCR7, CCR9, CCW2, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Describe the production processes used to create goods and services in different countries. (A, CO, CP, EP, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) a. Explain the production process, production methods, and stages of production. Have students complete Analyzing Global Production Methods activity in Appendix A a. Observation, Participation Rubric b. Identify the factors that influence the application of managerial styles in different countries. (C, CO, EN, IT, IB, M, MK, T1, T2, T3, T4, T5, T6) b. Have students take the Managerial Style Quiz in Appendix A. After they have taken the quiz, have them read the business protocol for each of their countries at http://www.kwintessential.co.uk/resources/country- profiles.html and then retake the quiz keeping in mind what they learned about their countries. Have students discuss if their managerial styles changed. b. Observation, Participation Rubric c. Describe how compensation and employee benefits differ in various cultures. (A, B, C, CO, CP, EP, EN, IB, M, MK, T1, T2, T3, T4, T5, T6) c. Point out that how employees are compensated is based on different factors in different countries. Indicate that employee compensation should be culturally sensitive to local conditions. Ask students to contrast compensation packages for U. S. citizens working abroad with compensation packages for nationals. c. Assess students’ knowledge through a summative assessment using a classroom response system and/or Blackboard. d. Identify how differences in occupational health and safety standards impact the conduct of business internationally. (B, C, EP, EN, IB, M, T1, T2, T3, T4, T5, T6) d. Discuss the importance of abiding by the international health and safety policy so that international trade and trade rules maximize health benefits and minimize health risks, especially for poor and vulnerable populations. Have students research international health and safety regulations on the Internet. The World Health Organization Web site (http://www.who.int/en/) is a good source of information. Have students work in groups to discuss the relationships among international health and safety, social responsibility, and a code of ethics. Have students complete the Reflection Exercise in Appendix A. d. Reflection Exercise Mississippi CTE Unit Plan Resource Page 33 of 94 Performance Task Throughout the course, each student will be developing an International Business portfolio. The portfolio will consist primarily of a research report, an international business plan, and a code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, students should have a completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Upate Business Plan – Section IV. Planned Operation of the Proposed Business/Product/Service In this unit, you began gathering information for Section IV of the international business plan that will go in your portfolio. Put this information in the appropriate location in Section IV of the international business plan. Update your code of ethics and report if necessary. Attachments for Performance Task Refer to the International Business Plan Format Guidelines and International Business Plan Rubric in Appendix A. Mississippi CTE Unit Plan Resource Page 34 of 94 Unit Resources Book: Dlabey, L. & Scott, J. (2008). International business (4th ed.). Mason, OH: South-Western Cengage Learning. Online: California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and finance technology education frameworks 2009 international business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 Kwintessential. (2010). Country profiles – Global guide to culture, customs and etiquette. Retrieved from http://www.kwintessential.co.uk/resources/country-profiles.html Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. Retrieved from http://nbea.org/newsite/curriculum/index.html World Health Organization. (2011). Countries. Retrieved from http://www.who.int/countries/en/ World Health Organization. (2005). International health regulations (2nd ed.). Retrieved from http://whqlibdoc.who.int/publications/2008/9789241580410_eng.pdf Mississippi CTE Unit Plan Resource Page 35 of 94 Unit 6: International Marketing Understandings and Goals Enduring Understandings In this unit, the student will: • Understand how social, cultural, technological, and geographic factors influence consumer buying behavior in different cultures • Understand how marketing elements need to be adapted for international marketing efforts • Understand how cultural differences may affect the way a product is advertised and/or marketed in different countries Essential Questions • In what way do social, cultural, technological, and geographic factors influence how a company markets its product or service in an international setting? Vocabulary Identify and review the unit vocabulary. Absolute Advantage Comparative Advantage Consumer Market Demographics Distribution International Marketing Market Market Segment Marketing Mix Organizational Market (Commercial Market, Business-to-Business Market) Target Market Mississippi CTE Unit Plan Resource Page 36 of 94 Suggested Learning Experiences Competency 1: Apply marketing concepts to international business situations. (DOK3, CCR4, CCR5, CCR6, CCR7, CCR9, CCW1, CCW2, CCW3, CCW4, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Describe how a company markets a product or service in other countries. ( C, CP, EP, EN, IB, MK, T1, T2, T3, T4, T5, T6) a. Have students compare and contrast international marketing and domestic marketing using a Venn Diagram. a. Venn Diagram Rubric b. Illustrate how social, cultural, technological, and geographic factors influence consumer buying behavior in different countries. (CO, CP, EP, EN, IT, IB, MK, T1, T2, T3, T4, T5, T6) b. Have students research political, economic, social, and technological changes taking place in the world and how those changes could affect consumer buying behavior in the regions affected. Have students identify what impact this would have on the marketing activities of industries that have products in that region or wish to enter the market in that region. Where possible, collect relevant statistics and details of the source of the information. The examples you use and the sources of information can be either local or international. b. Evaluate research for content and appearance c. Describe how the marketing-mix elements need to be adapted for international marketing efforts. (CO, IB, MK, T1, T2, T3, T4, T5, T6) c. Have students select a magazine advertisement or television commercial. Based on their analysis of the ad, have them describe what the company is doing for each component of the marketing mix. Have students indicate which component of the marketing mix would have to be adapted and why in order to market that product in their two countries. c. Observation, Participation Rubric d. Explain how the marketing research process differs in an international application. (CP, EP, EN, IT, IB, MK, T1, T2, T3, T4, T5, T6) d. Have students conduct an Internet search related to international market research and locate a Web site that would be useful for companies planning to engage in international business. Have them write an explanation of how the site’s contents might be useful. d. Evaluate the career project for content and delivery. Performance Task Throughout the course, each student will be developing an International Business portfolio. The portfolio will consist primarily of a research report, an international business plan, and a code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, students should have a completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Mississippi CTE Unit Plan Resource Page 37 of 94 Update Business Plan – Section IV. Planned Operation of the Proposed Business/Product/Service (cont.) In this unit, you gathered more information for Section IV of the international business plan that will go into your portfolio. Put this information in the appropriate location in Section IV of the international business plan. At this point, you may decide that you will not be able to market your product in both of your countries. If this is the case, prepare a statement outlining why you have chosen not to market your product in certain countries. Attachments for Performance Task Refer to the International Business Plan Format Guideline and International Business Plan Rubric in Appendix A. Mississippi CTE Unit Plan Resource Page 38 of 94 Unit Resources Book: Dlabey, L., & Scott, J. (2008). International business (4th ed.). Mason, OH: South-Western Cengage Learning. Web sites: Aneki. (2011). http://www.aneki.com/ This site details county records and ratings information. California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and finance technology education frameworks 2009 international business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 EconEdLink. (2011). How global is your portfolio? Retrieved from http://www.econedlink.org/lessons/index.php?lid=918&type=educator This engaging lesson challenges students to connect economics and geography as they investigate global companies in the stock market. globalEDGE. (2011). http://globaledge.msu.edu/ Created by the International Business Center at Michigan State University, globalEDGE is an international business web portal with a wealth of information, insights, and learning resources on global business activities. Kwintessential. (2010). Country profiles – Global guide to culture, customs and etiquette. Retrieved from http://www.kwintessential.co.uk/resources/country-profiles.html Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. Retrieved from http://nbea.org/newsite/curriculum/index.html United Nations. (n.d.). Millennium development goals indicators. Retrieved from http://unstats.un.org/unsd/mdg/Data.aspx Mississippi CTE Unit Plan Resource Page 39 of 94 Unit 7: International Finance Understandings and Goals Enduring Understandings In this unit, the student will: • Understand how foreign exchange rates affect companies engaged in international business • Be able to identify risks associated with international trade Essential Questions • Why does the value of currency vary from country to country? • What financial risks are associated with international business? Vocabulary Identify and review the unit vocabulary. Currency Option Exchange Controls Exchange Rate Floating Exchange Rate Foreign Exchange Foreign Exchange Market Hard Currency Interest Rate International Monetary Fund (IMF) Micro Country Risks Soft Currency World Bank Mississippi CTE Unit Plan Resource Page 40 of 94 Suggested Learning Experiences Competency 1: Explain the role, importance, and concepts of international finance and risk management. (DOK3, CCR7, CCW3, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL2, CCSL4, CCSL6) Suggested Performance Indicators Suggested Teaching Strategies Suggested Assessment Strategies a. Explain the role of money and currency systems in international business. (A, CP, EP, EN, IB, M, T1, T2, T3, T4, T5, T6) a. Discuss the three main purposes that money serves. Have students complete the activity Identifying the Function of Money in Appendix A a. Evaluate the activity Analyzing International Business Risks b. Explain factors that affect the value of currency. (A, CP, EP, EN, IB, M, T1, T2, T3, T4, T5, T6) b. Discuss factors that affect the value of currency. Have students complete the activity Analyzing Factors Affecting Foreign Exchange in Appendix A b. Evaluate the activity Analyzing Factors Affecting Foreign Exchange c. Identify risks associated with international trade. (A, CP, EP, EN, IB, M, T1, T2, T3, T4, T5, T6) c. Have students complete the activity Analyzing International Business Risks c. Evaluate the activity Analyzing International Business Risks Performance Task Throughout the course, each student will be developing an International Business portfolio. The portfolio will consist primarily of a research report, an international business plan, and a code of ethics for a business. The performance tasks in each unit build on one another, and by the end of the course, students should have a completed portfolio. Students should be encouraged to make improvements to the items in their portfolios as they learn more about their topics and as they receive feedback. Complete Portfolio Research the political, economic, and social risks associated with doing business in each of your countries. Include charts and data tables when necessary to back up your information. Complete your report and international business plan. Attachments for Performance Task Refer to the International Business Plan Format Guidelines, International Business Plan Rubric, Report Writing Format, and Report Rubric in Appendix A. Mississippi CTE Unit Plan Resource Page 41 of 94 Unit Resources Books: Dlabey, L., & Scott, J. (2008). International business. (4th ed.). Mason, OH: South-Western Cengage Learning. Online: Aneki. (2011). http://www.aneki.com/ This site details county records and ratings information. California Subject Examination for Teachers. (2005). Business subject matter requirements part I: Content domains for subject matter understanding and skill in business. Retrieved from http://www.cset.nesinc.com/PDFs/CS_business_SMR.pdf Connecticut Department of Education. (2011). Business and finance technology education frameworks 2009 international business. Retrieved from http://www.sde.ct.gov/sde/cwp/view.asp?A=2678&Q=320804 EconEdLink. (2011). How global is your portfolio? Retrieved from http://www.econedlink.org/lessons/index.php?lid=918&type=educator This engaging lesson challenges students to connect economics and geography as they investigate global companies in the stock market. globalEDGE. (2011). http://globaledge.msu.edu/ Created by the International Business Center at Michigan State University, globalEDGE is an international business web portal with a wealth of information, insights, and learning resources on global business activities. Kwintessential. (2010). Country profiles – Global guide to culture, customs and etiquette. Retrieved from http://www.kwintessential.co.uk/resources/country-profiles.html Mississippi World Trade Center. (n.d.). http://www.mswtc.org/ National Business Education Association. (n.d.). Curriculum forum. Retrieved from http://nbea.org/newsite/curriculum/index.html United Nations. (n.d.). Millennium development goals indicators. Retrieved from http://unstats.un.org/unsd/mdg/Data.aspx World Bank. (2011). http://www.worldbank.org/ Mississippi CTE Unit Plan Resource Page 42 of 94 Student Competency Profile Student Name: ___________________________________________ This record is intended to serve as a method of noting student achievement of the competencies in each unit. It can be duplicated for each student, and it can serve as a cumulative record of competencies achieved in the course. In the blank before each competency, place the date on which the student mastered the competency. Unit 1: Foundations of International Business 1. Explain the role of international business. (DOK3, CCR3, CCR7, CCW2, CCW7, CCW8, CCW9, CCSL1, CCSL2, CCSL4, CCSL6, CCL4, CCM3) 2. Analyze how international business impacts business at all levels, including local, state, national, and international. (DOK3, CCR3, CCR7, CCW2, CCW7, CCW8, CCW9, CCSL1, CCSL2, CCSL4, CCSL6, CCL4, CCM3) Unit 2: Global Business Ownership and Entrepreneurship 1. Identify forms of business ownership and entrepreneurial opportunities. (DOK3, CCR3, CCR7, CCR10, CCW2, CCW3, CCW4, CCW7, CCW8, CCW9, CCSL1, CCSL2, CCSL4, CCSL6, CCL5, CCM3) Unit 3: The Global Business Environment 1. Describe factors that shape and impact the international business environment. (DOK4, CCR3, CCR7, CCR9, CCW2, CCW3, CCW7, CCW8, CCW9, CCSL1, CCSL4, CCL3, CCL4, CCL5, CCM3) 2. Relate balance of trade concepts to the import/export process. (DOK4, CCR3, CCR7, CCW2, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL4, CCL4, CCM3) Unit 4: International Business Communication, Ethics, and Social Responsibility 1. Apply communication strategies in international business relations (DOK3, CCR6, CCR7, CCR9, CCW1, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) 2. Describe the factors that define what is considered socially responsible and ethical business behavior in a global business environment. (DOK3, CCR6, CCR7, CCR9, CCW1, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Unit 5: International Management 1. Analyze special challenges in operations, human resources, and strategic management in international business. (DOK3, CCR6, CCR7, CCR9, CCW2, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Unit 6: International Marketing 1. Apply marketing concepts to international business situations. (DOK3, CCR4, CCR5, CCR6, CCR7, CCR9, CCW1, CCW2, CCW3, CCW4, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL1, CCSL1, CCSL2, CCSL3, CCSL4, CCSL6, CCL1, CCL2, CCL5) Unit 7: International Finance 1. Explain the role, importance, and concepts of international finance and risk management. (DOK3, CCR7, CCW3, CCW3, CCW5, CCW7, CCW8, CCW9, CCW10, CCSL2, CCSL4, CCSL6) Mississippi CTE Unit Plan Resource Page 43 of 94 Appendix A: Activities and Rubrics Mississippi CTE Unit Plan Resource Page 44 of 94 Analyzing Factors Affecting Foreign Exchange For each of the following international activities, indicate whether the value of the country’s currency would increase or decrease by putting a check mark in the appropriate column. If you cannot determine the effect the activity would have on the currency, put a check mark in the last column. Increase Decrease Unable to Determine A nation imports more than it exports. Interest rates in a country rise. A new president is elected in a country. A nation’s inflation rate drops. The exports for a country increase as a result of technology. The military seizes control of the government and takes over major industries. New tourist attractions and international publicity increase international tourism by over one million people. Mississippi CTE Unit Plan Resource Page 45 of 94 Analyzing Global Production Methods Locate an online article about production activities (such as robotics, quality control, inventory management). Use this article to provide the following information and to answer the questions below. If possible, attach the article or a copy of it to this sheet. Title of article __________________________________________________________________ Author ________________________________________________________________________ Source of article ________________________________________________________________ Date _________________________________________________________________________ 1. Provide a brief summary of the information in the article. ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ 2. What are possible benefits of this information for a company? ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ 3. What are possible risks that the company may face in this situation? ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ 4. How might this information affect the company’s global business success? ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ Mississippi CTE Unit Plan Resource Page 46 of 94 Analyzing International Business Risks Directions: For each of the following situations, place a check mark in the appropriate column to identify whether the situation is an example of a political risk, social risk, or economic risk. Political Risk Social Risk Economic Risk Changes in consumer spending in a nation due to reduced employment opportunities New business regulations that require all food packages to list the potential dangers of ingredients Religious beliefs in a country that do not allow people to eat certain foods A trade deficit of a nation that reduces the value of its currency Traditions in a country that encourage family members to work for the family business Frequent changes in the government ruling party in a nation Import taxes that discourage buying foreign- made goods Changes in the buying power of a nation's currency Mississippi CTE Unit Plan Resource Page 47 of 94 Assessment Rubric for Student Reflections Levels Criteria Reflective Practitioner Clarity: The language is clear and expressive. The reader can create a mental picture of the situation being described. Abstract concepts are explained accurately. Explanation of concepts makes sense to an uninformed reader. Relevance: The learning experience being reflected upon is relevant and meaningful to student and course learning goals. Analysis: The reflection moves beyond simple description of the experience to an analysis of how the experience contributed to student understanding of self, others, and/or course concepts. Interconnections: The reflection demonstrates connections between the experience and material from other courses, past experiences, and/or personal goals. Self-criticism: The reflection demonstrates ability of the student to question his or her own biases, stereotypes, preconceptions, and/or assumptions and define new modes of thinking as a result. Aware Practitioner Clarity: Minor, infrequent lapses in clarity and accuracy. Relevance: The learning experience being reflected upon is relevant and meaningful to student and course learning goals. Analysis: The reflection demonstrates student attempts to analyze the experience but analysis lacks depth. Interconnections: The reflection demonstrates connections between the experience and material from other courses, past experience, and/or personal goals. Self-criticism: The reflection demonstrates ability of the student to question his or her own biases, stereotypes, and preconceptions. Reflection Novice Clarity: There are frequent lapses in clarity and accuracy. Relevance: Student makes attempts to demonstrate relevance, but the relevance is unclear to the reader. Analysis: Student makes attempts at applying the learning experience to understanding of self, others, and/or course concepts but fails to demonstrate depth of analysis. Interconnections: There is little to no attempt to demonstrate connections between the learning experience and previous other personal and/or learning experiences. Self-criticism: There is some attempt at self-criticism, but the self-reflection fails to demonstrate a new awareness of personal biases, and so forth. Unacceptable Clarity: Language is unclear and confusing throughout. Concepts are either not discussed or are presented inaccurately. Relevance: Most of the reflection is irrelevant to student and/or course learning goals. Analysis: Reflection does not move beyond description of the learning experience(s). Interconnection: No attempt to demonstrate connections to previous learning or experience. Self-criticism: No attempt at self-criticism. Developed by Steven Jones, Coordinator, Office of Service Learning, IUPUI Mississippi CTE Unit Plan Resource Page 48 of 94 Case Study Assessment Rubric NAME: DATE: PERIOD: Excellent 4 Points Accomplished 3 Points Needs Improvement 2 Points Unsatisfactory 1 Point Score Comprehension Shows complete understanding of the issues and grasps implications beyond the immediate issue Asks for more details to clarify understanding of the issue Shows partial understanding of the issue but does not ask for clarification Resists attempts to get clarification Strategizing Develops realistic strategies that provide a satisfactory conclusion Chooses appropriate strategies that may satisfy Shows evidence of strategy that may or may not satisfy Needs assistance to choose a strategy Innovation Devises more than one resolution to the problem Offers a solution Offers a solution with a limited point of view Shows some understanding of the problem Communication Convincingly communicates resolution Explains solution so others can understand Conveys an opinion Unsure of how to explain TOTAL Comments: Mississippi CTE Unit Plan Resource Page 49 of 94 Code of Ethics – Sample CODE OF ETHICS [Company Name] will conduct its business honestly and ethically wherever it operates in the world. [Company Name] will constantly improve the quality of its services, products, and operations and will create a reputation for honesty, fairness, respect, responsibility, integrity, trust, and sound business judgment. No illegal or unethical conduct on the part of officers, directors, employees, or affiliates is in the company’s best interest. [Company Name] will not compromise its principles for short-term advantage. The ethical performance of this company is the sum of the ethics of the men and women who work here. Thus, all are expected to adhere to high standards of personal integrity. Officers, directors, and employees of the company must never permit their personal interests to conflict, or appear to conflict, with the interests of the company, its clients, or its affiliates. Officers, directors, and employees must be particularly careful to avoid representing [Company Name] in any transaction with others with whom there is any outside business affiliation or relationship. Officers, directors, and employees shall avoid using their company contacts to advance their private businesses or personal interests at the expense of the company, its clients, or its affiliates. No bribes, kickbacks, or other similar remuneration or consideration shall be given to any person or organization in order to attract or influence business activity. Officers, directors, and employees shall avoid gifts, gratuities, fees, bonuses, or excessive entertainment intended to attract or influence business activity. Officers, directors, and employees of [Company Name] will often come into contact with, or have possession of, proprietary, confidential, or business-sensitive information and must take appropriate steps to assure that such information is strictly safeguarded. This information—whether it is on behalf of [Company Name] or any of its clients or affiliates—could include strategic business plans, operating results, marketing strategies, customer lists, personnel records, upcoming acquisitions and divestitures, new investments, manufacturing costs, processes, and methods. Proprietary, confidential, and sensitive business information about this company, other companies, individuals, and entities should be treated with sensitivity and discretion and only be disseminated on a need-to-know basis. Misuse of material inside information in connection with trading in the company’s securities can expose an individual to civil liability and penalties under the Securities Exchange Act. Under this act, directors, officers, and employees in possession of material information not available to the public are “insiders.” Spouses, friends, suppliers, brokers, and others outside the company who may have acquired the information directly or indirectly from a director, officer, or employee are also “insiders.” The act prohibits insiders from trading in or recommending the sale or purchase of the company’s securities while such inside information is regarded as “material” or if it is important enough to influence you or any other person in the purchase or sale of securities of any company with which we do business, which could be affected by the inside information. The following guidelines should be followed in dealing with inside information: • Until the material information has been publicly released by the company, an employee must not disclose it to anyone except those within the company whose positions require use of the information. Mississippi CTE Unit Plan Resource Page 50 of 94 • Employees must not buy or sell the company’s securities when they have knowledge of material information concerning the company until it has been disclosed to the public and the public has had sufficient time to absorb the information. • Employees shall not buy or sell securities of another corporation, the value of which is likely to be affected by an action by the company of which the employee is aware and which has not been publicly disclosed. Officers, directors, and employees will seek to report all information accurately and honestly and as otherwise required by applicable reporting requirements. Officers, directors, and employees will refrain from gathering competitor intelligence by illegitimate means and refrain from acting on knowledge that has been gathered in such a manner. The officers, directors, and employees of [Company Name] will seek to avoid exaggerating or disparaging comparisons of the services and competence of their competitors. Officers, directors, and employees will obey all Equal Employment Opportunity laws and act with respect and responsibility toward others in all of their dealings. Officers, directors, and employees will remain personally balanced so that their personal lives will not interfere with their ability to deliver quality products or services to the company and its clients. Officers, directors, and employees agree to disclose unethical, dishonest, fraudulent, and illegal behavior, or the violation of company policies and procedures, directly to management. Violation of this Code of Ethics can result in disciplinary action, including possible termination. The degree of disciplinary action relates in part to whether there was a voluntary disclosure of any ethical violation and whether the violator cooperated in any subsequent investigation. Remember that good ethics is good business! Mississippi CTE Unit Plan Resource Page 51 of 94 Continuum Line Place countries on the continuum line based on their levels of development. Less Developed Developing Industrialized Mississippi CTE Unit Plan Resource Page 52 of 94 Cross-Cultural Business Blunders The following cultural blunders are presented to our visitors, and we would like to stress that such examples of “culture gone wrong” are presented in order illustrate to people how crucial cultural awareness is in international business today. • Managers at one American company were startled when they discovered that the brand name of the cooking oil they were marketing in a Latin American country translated into Spanish as "Jackass Oil." • American Motors tried to market its new car, the Matador, based on the image of courage and strength. However, in Puerto Rico the name means "killer" and was not popular on the hazardous roads in the country. • A cologne for men pictured a pastoral scene with a man and his dog. It failed in Islamic countries because dogs are considered unclean. • An American business person refused an offer of a cup of coffee from a Saudi businessman. Such a rejection is considered very rude, and the business negotiations stalled. • One company printed the "OK" finger sign on each page of its catalogue. In many parts of Latin America that is considered an obscene gesture. Six months of work were lost because the company had to reprint all the catalogues. • Leona Helmsley should have done her homework before she approved a promotion that compared her Helmsley Palace Hotel in New York as comparable to the Taj Mahal—a mausoleum in India. • A golf ball manufacturing company packaged golf balls in packs of four for convenient purchase in Japan. Unfortunately, pronunciation of the word "four" in Japanese sounds like the word "death" and items packaged in fours are unpopular. • FedEx (Federal Express) wisely chose to expand overseas when it discovered the domestic market was saturated. However, the centralized or "hub and spoke" delivery system that was so successful domestically was inappropriate for overseas distribution. In addition, they failed to consider cultural differences: In Spain the workers preferred very late office hours, and in Russia the workers took truck-cleaning soap home due to consumer shortages. FedEx finally shut down over 100 European operations after $1.2 billion in losses. • Mountain Bell Company tried to promote its telephone and services to the Saudis. Its ad portrayed an executive talking on the phone with his feet propped up on the desk, showing the soles of his shoes—something an Arab would never do!