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International Business: Entering New Markets

AIM OF THE MODULE

The aim of the module is to prepare managers who have knowledge of the network economy basics, perceive the whole range of possibilities of modern business models and who are capable of initiating, implementing and managing business development of international markets.

IDEA OF THE MODULE: MARKET DEVELOPMENT = NETWORK DEVELOPMENT

Time spent studying is meaningful for a manager when it encourages a deep and stable change of his/her thinking. Undoubtedly, such change brings a company closer to consistent and rapid growth.  

The main goal of change in the updated module “International Business: Market Developments” is to move from linear to networked business world perception, construing a networked attitude of the student towards interrelations of persons, organisations and geographical markets and their development models in a methodical and consistent way.

Such concepts as “value chain”, “value growth”, “value linear flow” are mentioned in most traditional management and strategy courses and the internationalisation process is perceived as the transfer of part of the value chain to other markets. This approach has been inevitably discussed by us in this model. However, from now on we strive to see the development of any business not only as a linear flow or an incremental conquest of one more market, but rather as comprehensive integrated network development and management. Thus, the focus is on network theory and network economy basics with numerous examples of application in both traditional businesses and those having network effects.

When expanding its markets, a company very frequently has to undergo real business model transformations, so changes of business models during international development is one of the topics of this module. The subtopics of the activity implementation analyse the digitalisation of the diverse network interconnections, the digital interactions of international business players and the problems of remote organisation and team control. 

It is not only traditional geographical, political or cultural market definitions that are challenged by us. The competencies of the module lecturers cover a wide range from the traditions of Harvard University (the part of the course “Competitiveness Microeconomies” lectured by M. Porter[1]) to the newest lessons on Silicon Valley business modelling and the ideas of the exponential growth of Singularity University. Having completed the module, you will acquire at least a part of these broad thinking competencies!

WHO IS THE MODULE INTENDED FOR?

  • Company managers of traditional business models whose immediate future plans include market development tasks.
  • Developers, staff or shareholders of companies that have a network effect (and start-ups)
  • Any entrepreneur who strives to expand the traditional understanding of market development with the latest network thinking principles. 

LEARNING PECULIARITIES

There isn`t a single textbook for this module yet!

Due to the fact that a lot of steps are unique when planning international development, innovative microlearning methods are used in the module.

Single thinking models and schemes presented by different lecturers are used in unique combinations enabling every Master’s student to select the development approach that he/she (his/her company) specifically needs. In this way decisions are disciplined and their logic is divisible and easily communicable.

INTERNATIONAL MARKET DEVELOPMENT PLANS

Research studies of the module are practical plans of international market development drafted individually or in groups of up to three people. Thus Master’s students complete the module having a tangible and realisable outcome of cooperation among themselves, lecturers-professionals and course peers. There is no doubt that it is better to notice potential mistakes and shortcomings here than experience them in practice.

 

MANAGERS OF THE MODULE:

 Kristina Maikštėnienė

Since 2000 head of Marketing Strategy and Management Programmes at ISM Executive School and since 2013 head of the International Business Module at Executive MA studies, the expert-consultant. She holds a Master’s degree in Management (MBA, majoring in Marketing and Strategy from Kellogg School of Management at Northwestern University, USA), a Master of Arts degree in Economics (majoring in Finance Economics from Central European University & University of the State of New York), Master of Science degree in Applied Mathematics from Faculty of Informatics at Kaunas University of Technology. She has been developing her competencies at Wharton Business School, Harvard Business School, Stanford University, MIT, University of Chicago (the USA), Fudan University (China), Singapore Management University, Copenhagen Business School and other world-renowned business schools. She has delivered lectures and conference speeches in 15 countries. For several years she worked at the Riga and Warsaw branches of Procter&Gamble (marketing to the Baltics and Belarus markets).  She is a member of the Strategic Management Society (SMS), American Marketing Association (AMA), Professional Pricing Society (PPS) and Academy of International Business (AIB), a member of the editorial advisory board of the Baltic Journal of Management (Emerald Publishing), a member of the MBA admission commission for East Europe at Kellogg School of Management at Northwestern University. Since 1999 she has provided training and consultations to business companies in various countries on marketing strategies and international market development.

Modestas Gelbūda

Modestas Gelbūda is an associate professor at ISM University of Economics and Management. He defended his PhD thesis in the field of international business and management at Aalborg University in Denmark.  During his PhD studies he was a visiting doctoral candidate at Stanford University, the USA, and Uppsala University, Sweden.

Prior to returning to Lithuania, he carried out research at the prestigious London Business School. Modestas Gelbūda has published in the Journal of International Management (JIM), Management International Review (MIR), Journal of Business Ethics (JBE) and other international journals. He was invited to become a member of the founding editorial board of the European Management Review (EMR), the official research journal of the European Academy of Management (EURAM). Currently he serves as ECSB Country vice-president for Lithuania and was a chair for RENT Conference in 2013.

Modestas Gelbūda carries out research in the fields of international strategy, international entrepreneurship and strategic innovation. While conducting research Modestas Gelbūda strives to match the highest standards of academic rigour and the possibilities to develop valuable insights for management practice.

In order to contribute to management research development Modestas Gelbūda founded a scientific research centre CIBER and organized a series of high quality research conferences on "International Business in Transition Economies" and together with the Knowledge Economy Forum organised the International School of Doctoral Candidates where famous experts from the world’s leading universities delivered lecturers. 

Modestas Gelbūda is actively involved in public activities. He is or has been a board member in organizations such as the Knowledge Economy Forum, National HRM Association, National Academy of Pupils. Together with the Chancellor of the Lithuanian Government and Lithuanian Society of Young Researchers (LSYR) he implemented a unique “Lean Government LT” project intended for the implementation of good practices.

MODULE LECTURERS: Modestas Gelbūda, Kristina Maikštėnienė, Reimer Ivang, Vincentas Vobolevičius, Žygimantas Mauricas, Virginija Poškutė, Benas Adomavičius, Margarita Pilkienė, Maik Huettinger, Vytautas Kaikaris.