Getting Started: A New International Business - IIEI-101

Course Description: This popular six-week introductory practical course provides individuals new to international trade with an understanding of how to explore the trade opportunities that exist in international marketplace and then how to get started in their own international business. It walks a person through the lengthy process of being able to determine whether starting an importing or exporting business will work for them. Upon completion of this course, the student will have completed a simple international business plan for a chosen product or service.

Typically, the person who finds this course useful is someone who has visited a foreign country and has seen a product or service that he/she thinks might have sales potential in his/her domestic market; or a person who has family or relatives in a foreign country that might bring value to the process-- either by finding or making goods to export, or being the receiver of goods shipped (importing).

Prerequisite: None

Course Credit: 3 Credit Hours

Major Course Topics & Course Outcomes

As a result of the group and individual activities included in this course, the student will acquire the following knowledge and skills that can be applied to the workplace:

Readiness to do business internationally

• To be able to assess your readiness to start a new international business.

Product export/ import potential

• To demonstrate knowledge of how to determine export or import potential for a good or service.

Barriers to Trade

• To know the most common barriers to international trade.

Risk Assessment

• To be able to identify the risks involved in international trade.

Judging Market Opportunities

• To demonstrate knowledge of how to perform a basic market research using secondary research in support of a marketing effort.

Major Trade Blocks

• To know the major international trade trading blocks and why they exist.

Finding Suppliers and Resources

• To know how to find and utilize the various resources helpful in pursuing international trade.

Operating Issues for International Trade shipping and packaging requirements

• To show an understanding of the logistics concerns facing the company shipping internationally.

Setting up the New International Business

• To possess the ability develop a plan for a new international business that considers to key business practices presented in this course.

International Culture Considerations

• To demonstrate the knowledge of how to appraise the impact of culture on conducting international trade.

Required International Paperwork

• To demonstrate knowledge of the basic required documentation, forms and other paperwork required in international trade.

Pricing Products for International Markets

• To be able to determine the correct pricing for products shipped to foreign markets.

Starting the Business

• To possess a working knowledge of what is generally required to start a new international business.
  

Course Texts:

There is one textbook, plus a readings packet assigned for this course at this time. Each instructor posts additional current readings and materials that are obtained Online (for registered students only).

A Tour of International Trade. David M. Neipert. 1st Edition
Prentice Hall, NJ. 1999. ISBN 0-13-671744-6

Selected Readings Online.

Please note that textbooks are subject to change. Please contact your advisor before purchasing the textbook for your class to confirm.