Lesson Plan —Unit One International and Domestic Business Course Title: Principles of Business, Marketing, and Finance Session Title: Lesson Six -The Foundation of International Business Performance Objective: • Upon completion of this lesson, the student will define domestic and international business and explain the impact of global dependency on the United States economy. Specific Objectives: • Distinguish between domestic business and international business. • Discuss reasons why international business is important.. • Understand the history of international business. • Describe basic international business activities. • Explain the components of the international business environment. • Explain the importance of international business for workers, consumers, and citizens. Preparation TEKS Correlations: This lesson, as published, correlates to the following TEKS. Any changes/alterations to the activities may result in the elimination of any or all of the TEKS listed. • 130.112(c)(4)(A) compare domestic and world trade • 130.112(c)(4)(B) explain the impact of imports and exports on the United States economy • 130.112(c)(3)(A) compare and contrast the types of economic systems, including traditional, centrally planned, market, and mixed economies • 130.112(c)(3)(C) summarize the characteristics of the private enterprise system Interdisciplinary Correlations: English 110.42(b)(6)(A) – Vocabulary Development …expand vocabulary through wide reading, listening, and discussing 110.42(b)(6)(B) – Vocabulary Development … rely on context to determine meanings of words and phrases such as figurative language, idioms, multiple meaning words, and technical vocabulary 110.42(b)(7)(F) – Reading/comprehension …identify main ideas and their supporting details 110.42(b)(7)(G) – Reading/comprehension …summarize texts 110.42(b)(7)(J) – Reading/comprehension
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…read silently with comprehension for a sustained period of time Interdisciplinary Correlations: Mathematical Models with Applications 111.36(c)(1)(A) – Knowledge and Skills …compare and analyze various methods for solving a real-life problem. 111.36(c)(1)(B) – Knowledge and Skills …use multiple approaches (algebraic, graphical, and geometric methods) to solve problems from a variety of disciplines 111.36(c)(1)(C) – Knowledge and Skills …select a method to solve a problem, defend the method, and justify the reasonableness of the results 111.36(c)(6)(A) – Knowledge and Skills …analyze methods of payment available in retail purchases and compare relative advantages and disadvantages of each option. 111.36(c)(7)(A) – Knowledge and Skills …analyze types of savings options involving simple and compound interest and compare relative advantages of these options. Accommodations for Learning Differences: It is important that lessons accommodate the needs of every learner. These lessons may be modified to accommodate your students with learning differences by referring to the files found on the Special Populations page of this website. References: 1. Introduction to Business, Brown Clow, Glencoe McGraw-Hill 2. Intro to Business, Dlabay Burrow Klendl, South-Western Cengage Learning 3. International Business, Dlabay Scott, South-Western Cengage Learning 4. Online Resources: globaledge.msu.edu, worldnetdaily.com/news/article Instructional Aids: 1. “The Foundation of International Business” PowerPoint Presentation 2. Expanding Beyond U.S. Borders Assignment #1 3. Expanding Beyond U.S. Borders Assignment #1 Rubric 4. Conducting Business in Another Country Brochure Assignment #2 5. Conducting Business in Another Country Brochure Assignment #2 Rubric 6. Exporting Out of State Debt Assignment #3 7. Exporting Out of State Debt Assignment #3 Rubric 8. Internet Materials Needed: 1. Construction paper 2. Scissors and glue 3. Poster board 4. Newspapers Equipment Needed:
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1. Computers for students to complete projects 2. Projector for PPT Learner Preparation: 1. Ask students to list three examples of domestic and three examples of imported automobiles. Then ask students to circle that brand that they would most likely purchase. Then conduct a class discussion about domestic and imported goods and how different purchases affect the U.S. economy. 2. Ask students why commercials advertising fast-food restaurants emphasize that the “beef is from North America.” Then ask students if this means that the beef came from U.S. farmers. Explain how different parts of the world have different regulations for producing foods. The standards set for U.S. farmers to follow may put them at a disadvantage when trading in a global marketplace that includes producers from countries with less strenuous standards. Lesson Plan Introduction (LSI Quadrant I): 1. McDonalds is now buying beef from South America. U.S. farmers have more strenuous U.S. standards to meet when producing beef than farmers in South America. How is global trade unfair in this situation? How can consumers make a statement to let McDonalds know that American farmers need their support? 2. Show students a map of the world that does not label the countries. Then give students names of the countries to place on the map. This activity emphasizes the importance of understanding geography when conducting international business. 3. Ask students to choose a country that is ripe for international trade. Students must explain the cultural and social factors, economic conditions, political and legal factors, population, and geography for their chosen country. Important Terms for this Lesson: • culture – the accepted behaviors, customs, and values of a society or a system of learned, shared, unifying, and interrelated beliefs, values, and assumptions • domestic business – making, buying, and selling goods and services within a country • exports – products sold to other countries • global dependency-a condition that exists when items consumers need and want are created in other countries • imports-products bought from businesses in other countries • international business-all business activities needed to create, ship, and sell goods and services across national borders • trade barriers-restrictions that reduce free trade among countries
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Outline Outline (LSI Quadrant II): Instructors can use the PowerPoint presentation, slides, handouts, current events, the Internet, and note pages in conjunction with the following outline. MI
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Outline I. International Business A. All activities needed to create, ship, and sell goods and services across national borders B. Also referred to as global business, international trade, and foreign trade C. Importance of international business 1. source of raw materials 2. supplier of foreign products 3. new market and investment opportunities 4. improved political relations D. History of International Business 1. Roman Empire-more than 15,000 years ago dominated international business for more than 600 years 2. Eleventh Century a. renewed interest in global commercialism b. 1500-1900: several European countries established colonies in Africa, Asia, North America, and South America
Notes to Instructor Ask students to give advantages and disadvantages for increased international business.
II. International Business Basics A. Trade Activities-viewed from the side of the buyer and the seller B. Imports-products bought from businesses in other countries C. Exports-products sold in other countries D. Four Major Categories of the International Business Environment 1. geographic conditions 2. cultural and social factors 3. political and legal factors 4. economic conditions E. Trade Barriers-attempts to protect domestic business 1. quota-limit the amount of trade
Ask students why it is important to study the international business environment before trying to conduct business around the world.
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Ask students to give examples of how political relations affect international business around the world. Ask students to list three goods/services that are specialties for the United States. Then ask students to list countries where these goods/services are highly demanded.
Survey the class to determine if students support increased global business. Ask students why an
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2. tariff-tax on imports 3. embargo-refuse trade with another country usually for political reasons E. Knowledge for International Business 1. history 2. geography 3. foreign language 4. culture 5. study skills F. Advantage of International Business 1. consumer-more choices 2. citizen-increased awareness of the world
increasing number of people from Mexico take the risk of crossing the border to work in the United States. How does this activity affect the U.S. economy and employment rate of U.S. citizens?
Copy and paste Multiple Intelligences Graphic in appropriate place in left column.
Verbal Linguistic
Logical Mathematical
Visual Spatial
Musical Rhythmic
Bodily Kinesthetic
Intrapersonal
InterPersonal
Naturalist
Existentialist
Application Guided Practice (LSI Quadrant III): Ask students to tell how international business ha helped workers, consumers, and citizens. Put the students’ answers into a three-column table. Flash pictures of domestic and imported product to the clash. Students must guess whether the products are domestic or imported. Then discuss how specialization, raw materials, and labor impact where products are produced. Independent Practice (LSI Quadrant III): 1. Expanding Beyond U.S. Borders Assignment: Put the names of different countries in a hat. Split the class into teams of two; each team will draw a country from the hat. Then the team must prepare a PowerPoint presentation that covers the geography, cultural and social factors, economic conditions, and political and legal factors for conducting business in their chosen country. The presentation will be evaluated using the assigned rubric. 2. Conducting Business in Another Country Brochure Assignment: Ask students to design a brochure with tips for conducting business in another country. The brochure should include tips about culture, language, gestures, customs, religion, and political influences in the country. The brochure will be evaluated using the assigned rubric. 3. Exporting Out of State Debt Assignment: Put the names of U.S. states in a hat. Each student draws a state from the hat; they research the state to
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determine its areas of specialization. Then students determine an international business partner for the state. Students prepare a PowerPoint presentation to explain what the specialization for the state, proposed international trade partner, what products to sell internationally, and why the international trade partner is a good choice. The presentation will be evaluated using the assigned rubric. Summary Review (LSI Quadrants I and IV): Q: Why is international business important? A: International business opens new markets, creates more jobs, and improves political relationships. Q: What is global dependency? A: Global dependency means that countries around the world depend upon each other to trade goods and services. Q: How is specialization related to global business? A: International business allows countries to specialize their production according to their natural resources and expertise. Q: Why do governments sometimes create trade barriers to discourage imports? A: Trade barriers are used as political strategies. Trade barriers are attempts to protect American production and jobs. Q: What are the four parts of the international business environment? A: Geography, cultural and social factors, economic conditions, and political and legal factors are the four parts of the international business environment. Q: What is the difference between an import and an export? A: Imports are products bought from businesses in other countries and exports are products sold in other countries. Q: Why should individuals study the culture of another country before conducting international business. A: Business transactions are frequently influence by the country’s culture. Evaluation Informal Assessment (LSI Quadrant III): 1. Instructor will observe students during Independent Practice. 2. Instructor will assist students as needed. Formal Assessment (LSI Quadrant III, IV): Assigned Rubrics will be used to assess assignments 1, 2, and 3 for Independent Practice (LSI Quadrant III). Extension/Enrichment (LSI Quadrant IV): 1. Interview a person who has lived or worked in another country. Ask him or her about the cultural and business differences of that country compared to the United States. Prepare a report that includes information learned from the research. 2. Balance of Trade: Select a country other than the United States. Research the
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major imports and exports of that nation for a recent year. Calculate the difference between the country total exports and imports and the percentage of change in exports and imports from the previous year. 3. Ask students to create a collage that represents the international business environment for a selected country. The collage should include pictures and text for geography, cultural and social factors, economic conditions, and political and legal factors.
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The Foundation of International Business Independent Practice Assignment Sheet Expanding Beyond U.S. Borders Assignment #1: Draw the name of a country from the hat. Your team must prepare a PowerPoint presentation that covers the geography, cultural and social factors, economic conditions, and political and legal factors for conducting business in their chosen country. The presentation will be evaluated using the assigned rubric. Conducting Business in Another Country Brochure Assignment #2: Design a brochure with tips for conducting business in another country. The brochure should include tips about culture, language, gestures, customs, religion, and political influences in the country. The brochure will be evaluated using the assigned rubric. Exporting Out of State Debt Assignment #3: Draw the name of a state from the hat; research the state to determine its areas of specialization. You must determine an international business partner for the state. Prepare a PowerPoint presentation to explain what the specialization for the state, proposed international trade partner, what products to sell internationally, and why the international trade partner is a good choice. The presentation will be evaluated using the assigned rubric.
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Economic and Ethical Activity in a Changing World Expanding Beyond U.S. Borders Assignment #1 Rubric Student Name:
_____________________________________________________
20
15
10
5 or less
Content
Covers topic indepth with details and examples. Subject knowledge is excellent.
Includes essential knowledge about the topic. Subject knowledge appears to be good.
Includes essential information about the topic but there are 1-2 factual errors.
Content is minimal OR there are several factual errors.
Organization
Content is well organized using headings or bulleted lists to group related material.
Uses headings or bulleted lists to organize, but the overall organization of topics appears flawed.
Content is logically organized for the most part.
There was no clear or logical organizational structure, just lots of facts.
Attractiveness
Makes excellent use of font, color, graphics, effects, etc. to enhance the presentation.
Makes good use of font, color, graphics, effects, etc. to enhance to presentation.
Makes use of font, color, graphics, effects, etc. but occasionally these detract from the presentation content.
Use of font, color, graphics, effects etc. but these often distract from the presentaion content.
Originality
Product shows a large amount of original thought. Ideas are creative and inventive.
Product shows some original thought. Work shows new ideas and insights.
Uses other people's ideas (giving them credit), but there is little evidence of original thinking.
Uses other people's ideas, but does not give them credit.
Presentation
Well-rehearsed with smooth delivery that holds audience attention.
Rehearsed with fairly smooth delivery that holds audience attention most of the time.
Delivery not smooth, Delivery not smooth but able to maintain and audience interest of the attention often lost audience most of the time.
CATEGORY
Total Score _______ Maximum 100 Points
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Economic and Ethical Activity in a Changing World Conducting Business in Another Country Brochure Assignment #2 Rubric
Student Name:
_____________________________________________________
CATEGORY Content Accuracy
20
15
10
5 or less
All facts in the brochure are accurate.
99-90% of the facts in the brochure are accurate.
89-80% of the facts in the brochure are accurate.
Fewer than 80% of the facts in the brochure are accurate.
Attractiveness & The brochure has exceptionally Organization
attractive formatting and well-organized information.
The brochure has The brochure has attractive formatting well-organized and well-organized information. information.
The brochure's formatting and organization of material are confusing to the reader.
Writing Mechanics
Capitalization and punctuation are correct throughout the brochure.
Capitalization and punctuation are correct throughout the brochure after feedback from an adult.
There are 1-2 capitalization and/or punctuation errors in the brochure even after feedback from an adult.
There are several capitalization or punctuation errors in the brochure even after feedback from an adult.
Knowledge Gained
All students in the group can accurately answer all questions related to facts in the brochure and to technical processes used to create the brochure.
All students in the group can accurately answer most questions related to facts in the brochure and to technical processes used to create the brochure.
Most students in the group can accurately answer most questions related to facts in the brochure and to technical processes used to create the brochure.
Several students in the group appear to have little knowledge about the facts or technical processes used in the brochure.
Sources
Careful and accurate records are kept to document the source of 95-100% of the facts and graphics in the brochure.
Careful and accurate records are kept to document the source of 9485% of the facts and graphics in the brochure.
Careful and accurate records are kept to document the source of 84-75% of the facts and graphics in the brochure.
Sources are not documented accurately or are not kept on many facts and graphic
Total Score _______ Maximum 100 Points
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Economic and Ethical Activity in a Changing World Exporting Out of State Debt Presentation Assignment #3 Rubric Student Name:
_____________________________________________________
20
15
10
5 or less
Content
Covers topic indepth with details and examples. Subject knowledge is excellent.
Includes essential knowledge about the topic. Subject knowledge appears to be good.
Includes essential information about the topic but there are 1-2 factual errors.
Content is minimal OR there are several factual errors.
Organization
Content is well organized using headings or bulleted lists to group related material.
Uses headings or bulleted lists to organize, but the overall organization of topics appears flawed.
Content is logically organized for the most part.
There was no clear or logical organizational structure, just lots of facts.
Attractiveness
Makes excellent use of font, color, graphics, effects, etc. to enhance the presentation.
Makes good use of font, color, graphics, effects, etc. to enhance to presentation.
Makes use of font, color, graphics, effects, etc. but occasionally these detract from the presentation content.
Use of font, color, graphics, effects etc. but these often distract from the presentation content.
Originality
Product shows a large amount of original thought. Ideas are creative and inventive.
Product shows some original thought. Work shows new ideas and insights.
Uses other people's ideas (giving them credit), but there is little evidence of original thinking.
Uses other people's ideas, but does not give them credit.
Presentation
Well-rehearsed with smooth delivery that holds audience attention.
Rehearsed with fairly smooth delivery that holds audience attention most of the time.
Delivery not smooth, Delivery not smooth but able to maintain and audience interest of the attention often lost audience most of the time.
CATEGORY
Total Score _______ Maximum 100 Points
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