International Project Management

2.    JUSTIFICATION OF THE COURSE

In the Colombian context, Latin America and the Caribbean have traditionally been essential markets in the processes of internationalization. However, the expansion of international business to other countries and the dynamics within the region  have brought new factors to international business in this part of the world. Additionally, for local companies it is essential to know the factors considered by external actors when operating their international business with / in Latin America and the Caribbean,  to identify the factors that determine the operation strategies and their success.
Both to identify opportunities in the region and to take advantage of them, businessmen and investors need to know a series of elements about the context in which the companies of the region operate. Factors associated with history, political configuration, economic development and the socio-cultural system are essential to establish internationalization strategies in the region that truly contribute to the macro-objectives of each organization.
The Business course in Latin America or hosted by the EAFIT University is supported    by the experience of the International Business Department as a pioneer in  the  academic study of internationalization processes at the national level and leader in research and teaching in the area of Latin American studies with emphasis in business and foreign trade.

3.    PURPOSE OR OVERALL OBJECTIVE
 

3.1.    Offer the student a general knowledge of the factors that determine the development of international business operations with and in Latin America and the Caribbean, taking into account the regional characteristics of each of their  countries,  and  offering tools that allow them to determine successful strategies to advance these processes.
3.2.    SPECIFIC OBJECTIVE
3.2.1.    Understand the scope of the role of Latin America and the Caribbean as a focus of international business at a global level and the factors that determine that role.
3.2.2.    Analyze the historical evolution and political development of the region and    its main countries and the implications they have in the business world.
3.2.3.    Analyze the economic evolution of the region and evaluate the impact on international business operations from and to the countries that comprise it.
3.2.4.    Describe the socio-cultural context of Latin American and Caribbean countries and the influence that these factors have on the practice of business.
3.2.5.    Determine the main strategies for the development of international operations in the region and the factors that determine its success.
3.2.6.    Evaluate the main lessons that the region offers for international business at    a national, regional and global level.
3.2.7.    Compare the configuration of business sectors in the  main  economies of Latin America and the Caribbean through case studies.

4.    BASIC SKILLS THE STUDENT WILL BE ABLE TO ACHIEVE

The development of the course will allow the student to understand the context in which international business in Latin America and the Caribbean is developed from multiple perspectives, both in reference to local companies that operate at a regional level, and   to companies from the rest of the world interested. in the Latin American market. This knowledge will also allow him to analyze and identify business opportunities with the region and define successful internationalization strategies for said operations.
Teaching expectations:

Understand the international business environment in Latin America and the Caribbean.

Observe the main differences in the political and economic development processes of   the countries of the region and their effect on the current state of each national context  for international business.

Analyze the current economic situation in Latin America and the Caribbean.

Recognize the main elements of the socio-cultural system of Latin America and the Caribbean and its impact on the development of international business.
Establish the main determinants and trends in consumer behavior in the region.

Recognize the main characteristics of companies in the region and the extent of their influence on how to do business with and in the region.
Understand the existing implications in the region for internationalization strategies and foreign investment.
Identify possible business opportunities and evaluate the benefits and risks associated with different ways of doing business in Latin America and the Caribbean.

5.    ANALYTICAL DESCRIPTION OF CONTENTS: THEMES AND SUBTHEMES

5.1.    Introduction. Why do business in Latin America and the Caribbean?

Introduction to the business environment in the Regió n and the importance of their study; Geographical configuration and geopolitical impact ; Latin America and the Caribbean in the international context - General and role in international business ; Main business models
5.2.    History and political system

Influence of history in the context for international business ; Conquest, colonization and independence ; Post-independence historical evolution, 20th century ; Current political configuration: institutional framework, democratization and  political tendencies
5.3.    Economic development

History and politics of the processes of development, industrialization and economic internationalization ; Systems of economic integration in the region ; Markets in Latin America and the Caribbean ; Current economic situation
5.4.    Socio-cultural context

Socio-cultural values , role of social movements in the region and main trends ; Demographic characteristics of the markets and their implications for business ; Interpersonal variables in international business ; Characterization and behavior of   the consumer
5.5.    Internationalization strategies in Latin America and the Caribbean

Characteristics of business groups ; State participation in business systems ; Multilatinas and investment from Latin America and the Caribbean Abroad ; Success factors for insertion models ; Levels of competitiveness of the main markets of the region: Doing Business ranking
5.6.    Lessons from and for the region
 

Macroeconomic factors ; Socio-cultural factors ; Political stability ; Business models

6.    DIDACTIC STRATEGIES AND METHODOLOGIES

The methodology of the course is designed to impart theoretical and conceptual knowledge on a par with case studies that help the student to recreate various  situations thus facilitating the application of the knowledge acquired. Readings and  videos will be used to reinforce the topics seen and promote reflection and discussion     of different topics during the class.
The course will promote managerial skills with decision-making exercises at the end of the central issues of supply, production and distribution that will be developed in the different units throughout the course.
The methodological development of the course will focus on  the  following  basic  aspects:
Previous reading of the topic to be studied in class that will provide a basis for the consolidation of theoretical knowledge during the class, will encourage participation and will give rise to concerns during the development of the same.
Development, solution, analysis and decision making of workshops and case studies of the different topics that are developed throughout each of the units.
The use of audiovisual material with examples of various companies, interviews and    real cases will give more illustration to the student to understand the different topics.

7.    RESOURCES

7.1.    LOCATIVE

Installations University
7.2.    TECHNOLOGICAL

Equipment present in the classroom and a virtual teaching platform

8.    CRITERIA AND POLICIES OF MONITORING AND ACADEMIC EVALUATION

The Business course in Latin America will be carried out through the discussion and critical analysis of study materials and business cases, therefore, the student must demonstrate through their participation in the discussions a reading and understanding   of these. The evaluation will be based on the following components:
Exercise of political and institutional analysis (10%) Economic trend report analysis (15%)
 

Business case of socio-cultural context (15%) General participation in class and discussions (10%)
Additionally, students must present a research project associated with a business case   of insertion in Latin America and the Caribbean, applying the different elements of the theoretical framework established in the course to evaluate the applied internationalization strategies, determine the lessons learned and offer options of improvement for the approximation of each organization to international business in the region. The company will be assigned by the professor and the results of the research  will be socialized to the group and evaluated during the last class. This activity will have   a value of 50% of the final grade, distributed as follows:
Teacher evaluation (fifteen%)

Peer evaluation (Peer evaluation) (10%) Expert evaluation (25%)