Doing Business in Europe

COURSE DESCRIPTION

Our increasingly globalised world is becoming more and more integrated and interdependent. As production and markets go global, businesses cannot escape from the challenges of international business practices. Governments and businesses must keep up with global trends if they wish to retain their strategic and structural competitive edge. Moreover, political, economic and social dimensions are challenged by technological advances, and businesses are tied to multiple dimensions of cultural and ethical standards. These factors increase uncertainty and drive rapid and unexpected changes in business practices. In order to accommodate these changes in the global environment and ensure their place within the constantly reorganising international context, countries tend to form different levels of economic integration. One of the most advanced examples of economic integration is the European Union.

This course aims to provide comprehensive and integrated coverage of the European Union (EU) and the Pan-European market, starting from a macro view down to companies’ operations (particularly merchandising and marketing). In order to better understand how to conduct business in Europe (buying, selling or investing), the course will start by offering a global view of Europe: its historical background, differences in culture dimensions between European countries, and the evolution towards European integration. It also focuses on the expansion of the EU (history and controversial issues in joining and/or remaining in the EU), its institutions, monetary systems, legislations and requirements that regulate European businesses activities. After analysing the economic, sociocultural, technological and legal environment in the European Union, in the second part of the course you will become familiar with the national differences between European countries and companies, which will help you assess how to do business in Europe.

COURSE CONTENTS

Understanding of Europe and the European Union: geopolitics, markets and business; specific elements of economic and business organisations in the EU.

Macro-analysis:

• Historical Roots of Europe: From Feudalism to Modern Europe
• Evolution of the European Union: Expansions, Institutions and Legal Background
• Short Overview of Economic Integrations

Doing Business with the European Union

• Being European – Managerial and Consumer Behaviour Differences through
• Understanding the Dimensions of Culture: Hofstede (PD, I/C, M/F, UA, LTO) and Hall (4 dimensions)
• Evolution of the European Union: Expansions, Institutions and Legal Background
• Standardisation vs. Adaptation: Segmenting the Single Market (Cultural, Social, Personal and Psychological Factors; Cultural and Language Barriers to Standardisation)
• The Challenges of the Enlarged EU:
  • Central Bank of Europe and the Eurozone; the “others” (non-Euro countries)
  • North–South Differences, including East European specifics
  • EU and Brexit

The Future of Europe and the EU from the Standpoint of Companies

• Who Are You Dealing With: Further Expansion (Pros and Cons) – Should the EU Split in Two?
• Foreign Exchange Risk: The Viability of the Euro
• What is Your Market: Nations of Regions?
• What Regulates Your Markets: Is It possible to Form a Political Union?