Summer Institute: Concept | Components | Schedule

The Components

Institute Objectives

The purpose of the Summer Institute is to provide an integrative experience for undergraduate students with an interest in various international policy issues. Students will benefit from an array of activities designed to broaden their perspective, deepen their knowledge of international business management, trade and policy issues, and increase their understanding of necessary skills for successful careers in international firms operating in a global economy. Students will have the opportunity to synthesize subject matter, enhance application and problem-solving skills and facilitate both independent and critical thinking. Students will gain a competitive advantage by being better prepared for the requirements of today's internationally oriented job market, as well as developing a mature, self-reliant perspective on learning.

Curriculum Components

Strategic Business Simulation
Teams of students manage a multinational company in competition with other student teams over ten decision periods, responding to various economic, trade and environmental-policy related events. The integrative simulation emphasizes strategic planning and implementation, competitive response, oral and written communication skills. Teams make production, logistic, pricing, financial and marketing decisions throughout the multi-period simulation , develop a written business plan and assessment of company performance and make two presentations to a board of directors.

Defining Reality
Activities are designed to highlight the skills necessary for success in cross-border firms. The results of a skill-package assessment project will be the centerpiece of this session. Students will participate in an activity designed to answer the question "Why would anyone want to hire you?" Emphasis will be placed on performance skills, personal attributes and intellectual abilities desired by both domestic and international employers. Attention will be given to reading, writing, speaking, thinking and information-acquisition skills.

Global Trade Realities
An overview of the nature of merchandise trade, with an emphasis on agricultural, forestry and food products of importance to Canada and the United States. Includes trends in value and volume of imports and exports, the importance of trade relative to production and consumption, major export markets and sources of imports, and a hemispheric perspective. Specific attention is given to where one can find relevant trade date and information.

The Global Trade Policy Landscape
Provides an overview of global trade policy with special attention to agricultural and agro/food policies of Canada, the United States and other significant players in the Western Hemisphere, as well as the European Union and Japan. Includes recent events, current happenings and trade agreements and negotiations within the context of various "policy philosophies." Also, includes discussion of how one can keep abreast of the dynamic policy situation.

All About Trade Barriers
A wide variety of barriers to trade are examined, with emphasis on agricultural commodities and food, fiber, fishery and forestry products. Examples of various types of trade barriers are discussed and examined in terms of purposes, intended and unintended consequences, and attempts to reduce such barriers. Tariffs and Non-Tariff Barriers (NTBs) are considered, including sanitary and phytosanitary regulations, technical barriers, politics as barriers, and domestic policies as barriers. The future of trade barriers is addressed.

Doing Business in Developing Countries
The strong economic growth rates exhibited by many developing countries and the increasing size of the middle-income segment in these countries result in attractive markets for North American agricultural and food-product exports. However, doing business in such countries requires knowledge and understanding of the often-different legal, political, social and cultural environments which can serve as barriers to success. Attention is given to both entry strategies and strategies for overcoming business constraints, as well as sources of information on the business climate in developing countries.

Understanding Competitiveness
Provides both an overview and detailed explanations of competitiveness issues, focusing on fundamental sources of competitiveness, as well as the interface between strategy and competition. Explains how firms create value and respond to competition in meeting the needs of consumers in cross-border environments, and how governments may influence the competitiveness of firms in dynamic environments.

Principles of Successful Exporting
What skills do you need and where do you find the necessary information in order to make the management decisions needed for a successful export operation. Includes such topics as location of and access to data sources, decision frameworks, business organization and structure, strategic alliances, export-marketing plans, entry modes, distribution choices, documentation requirements, and market assessment, and competitive responses. Principles, problems and opportunities are explored. Examples provided by experienced exporters.

Organizing International Activities
Includes information on alternative organizational structures, international capital flows, foreign direct investment, and the role and influence of multinational firms. Explores the role of multinationals in international markets and surrounding issues. Explains how government policies affect organizational structures of multinational firms and vice versa.

International Business and the Environment
Explores the relationship between international trade and the environment as well as international and multinational firms and the environment. The impact of differences in environmental standards on production costs and competition and resulting policies are discussed. Examples of conflicting environmental standards and objectives are discussed. Positions of developed and developing economics tend to conflict, as seen in negotiating positions in hemispheric and multilateral discussions. Potential directions for the debate and possible solutions/compromises are explored.

GMOs, Biotechnology and International Business
One of the hot topics in international agricultural and agro/food trade is the conflict over the safety, ethics and impacts of GMOs and biotechnology. The use and misuse of bans and restrictions on biotech-product flows across borders is explored. Implications for agricultural production and food processing in North America are discussed. Companion issues such as traceability, country-of-origin labeling are considered.

Current Issues in U.S.-Canada Trade
A wide range of trade-related issues between Canada and the United States are developed and discussed. Attempts are made to understand differences of opinion, including origins, policy responses and potential compromises. Past, present and future trade negotiations and relationships are delineated. Trade remedy measures such as anti-dumping and countervailing duties are discussed. Specific commodity and product examples are provided.

Cultural Sensitivity
Awareness and sensitivity toward different cultures is essential in the international business place as well as in the increasingly diverse domestic business arena. This section provides a discussion of issues and role-playing situations that help the student gain a perspective on cultural differences and their implications in the business world. Various formats are being considered for this session, including an interactive simulation game of cultural differences and training by a consultant in international business protocol.

Contact information: 206 Winslow Hall, Orono, ME 04469-5782, (207) 581-3171, peggy.mckee@umit.maine.edu