Create a profitable innovation by learning how to design a business model, price your product and create a successful sales process. Entrepreneurship 103 prepares you for the MIT Global Entrepreneurship Bootcamp!
Learn how the social, political, economic and institutional factors affect international business environments and global strategies.
This course focuses on the social, political, economic and institutional environment of countries. This environmental context molds the country’s objectives, defines the country’s strategy, programs and policies for achieving objectives, and significantly impacts companies.
The context is affected by historical events, and by the country’s leadership. Many stakeholders shape the environment and the institutions, or “rules of the game”, that affect business. Labor, students, farmers, non-governmental organizations (NGOs) and the military play a crucial role, making the analysis of country environments complex and fascinating.
We will study Japan in some depth, and catch brief glimpses of South Korea, Singapore, Chile, Turkey, India, South Africa and the former Soviet Union, to appreciate the forces that influence diverse country environments, and companies’ strategies.
The course will review aspects of global institutions, such as the World Trade Organization (WTO), which set global rules that profoundly affect business strategy and human welfare. It will also explore opportunities and challenges at the bottom of the pyramid, the last frontier for value creation by companies and NGOs.
What you'll learn:
- How social, political, economic and institutional factors define the business environment of countries
- What role history and leadership play in shaping the environment
- How companies’ strategies are affected by the environment
- How the rules of the game set by global institutions, such as the WTO, affect business and human welfare, for example, through the pricing of AIDS drugs in developing countries like South Africa
- How diverse stakeholders, including NGOs, shape the business environment and affect company strategies
- How companies and NGOs create value at the bottom of the pyramid