This course explores background issues such as regional economic alliances, trade policy and privatization and strategic issues such as global sourcing, cultures and marketing mix in the impact of technology. The centerpiece of the course is the international travel-study trip during which teams visit many companies and collect data on their own projects. The course is team taught with instructors drawn from each functional discipline. The culmination of the course is a critique and review session of team projects. This course focuses on managerial uses of accounting information for decision making within the business enterprise.
Decisions considered include product pricing, transfer pricing, make or buy, and capital budgeting.
Formation of budgets, establishing an internal control structure, performance evaluation, and cost control techniques are also discussed. In order to survive, businesses must meet the legal and ethical standards imposed by a changing society. Business enterprise is not an island and business decision making must be undertaken in light of current legal and ethical demands. Such demands may take the form of globalization of the business enterprise, reactions to hostile takeovers, concerns with market concentration and efficiency, changes in legal philosophy and corporate ethics, and developments in international law and administrative regulation. A firm's ability to survive and succeed in an increasingly competitive global arena depends on its ability to develop and maintain an effective strategy.