The Ohio State University
Emerging Markets Global Lab (EMGL) - Panama
Business Administration 4798
Autumn Semester 2013
Professor: Mr. Tim Sword
Class time: Mondays 5:30 to 7:00 p.m.
Email: sword.3@osu.edu
Phone: 614-563-1932
Office hours: By appointment only
Class room: Schoenbaum 319
The Emerging Markets Focus This course aspires to be a challenging educational adventure
to help prepare students for careers that involve international business by developing an
enhanced understanding of emerging markets with an emphasis on Latin America, specifically
focusing on Panama. The adventure begins in the classroom where the aim is to create a dynamic
exchange of ideas through round tables to examine unique characteristics of emerging markets.
We will focus on how to gather market intelligence to enhance a company’s ability to navigate in
these new markets. Numerous invited guest professionals will enhance our discussions by
bringing their real world experiences, insights and adventurous tales about doing business in
Panama and other Latin American markets to our class.
The experience culminates with the December study business mission to Panama where we will
see, smell, taste and touch first-hand the unique characteristics of a fascinating emerging market.
Beyond the interesting in-country company visits being planned, we will also witness the
expansion of the Panama Canal, have the opportunity to ride in a Diablo Rojos, shop in local
grocery stores and see the waters of both the Atlantic and Pacific oceans and much more!
The Export Process Focus Increasingly more small and medium-sized U.S. companies are
pursuing international exports to grow their business and sometimes to save their company.
Many of these companies are discovering the fastest growing middle class populations and the
best opportunities to find new customs are located in emerging markets. In order to compete and
succeed in emerging markets, companies must develop new skills, capabilities and strategies in
order to capture new markets. This also signals emerging and fascinating career opportunities
for students and professionals who develop skills in order to offer companies solutions and
knowledge of how to do business in emerging markets.
.
Course Objectives
This course has several objectives including:
1)
Demonstrate an understanding of Emerging Markets and the potential implications for
U.S. exporters and local businesses.
2)
Examine cultural differences of doing business within Latin America.
3)
Assess how U.S. companies export products to international markets by studying the
Global Entrepreneur text book and applying knowledge in a Panama market study and
recommendation report to present to a real life local company.
4)
Analyze a particular business in Panama.
5)
Examine challenges companies face doing business in Panama while attempting to bridge
the gap between theory and practice.
Course Materials
Required:
The Global Entrepreneur: Taking Your Business International by James F. Foley; Jamric
Press International- Second Edition
The Supplementary Packet (SP) can be purchased from OSU Bookstore/ B&N Gateway
location on High Street exclusively. The packet contains necessary supplemental readings for
class room discussion.
Recommended:
The World is Flat by Thomas Friedman; New York: Farrar, Straus and Giroux, Expanded
Edition c2006, ISBN 0-374-29279-5; Read Chapter 10- “The Virgin of Guadalupe”
Latin American Business Cultures by Robert Crane & Carlos Rizowy; Pearson Prentice Hall;
2005; ISBN 0-13-067048-0
Other Resources:
U. S. Department of Commerce. http://export.gov
U. S. Department of State. http://www.countryreports.org/
Food Export Association of the Mid-West, “Exporting Primer”:
http://www.foodexportalliance.org/eweb/DynamicPage.aspx?Site=MIATCO&WebKey=be50adc
d-f78b-4b8a-b27d-a6dca70b9f95
Foreign Agricultural Service, U.S. Department of Agriculture, export section:
http://www.fas.usda.gov/agx/exporter_assistance.asp
Global Agricultural Trade System (GATS), Foreign Agricultural Service:
http://www.fas.usda.gov/gats/default.aspx BICO (Bulk, Intermediate, and Consumer-Oriented)
reports and trade statistics.
Global Agricultural Information Network: (Includes reports from foreign ag’l attaches)
http://gain.fas.usda.gov/Pages/Default.aspx
The Study Mission to Panama
“We do not take a trip; a trip takes us” –John Steinbeck from Travels with Charley: In
Search of America
This course includes a mandatory, one-week business study trip to Panama City from Friday,
December 13 to Friday, December 20, 2013. Please make certain your calendar is clear as there
is no flexibility on the dates. Since the trip is a fundamental part of the course, please understand
that there will be assignments representing an important portion of your grade that follow this
travel week.
“Without new experiences, something inside of us sleeps. The sleeper must awaken.” – Frank
Herbert
The trip to Panama includes visits to up to five companies/organizations being studied. There
will be additional activities involving sightseeing and additional time to pursue your personal
interests. Each company visit will involve a plant tour, a presentation by business executives
from the company and a Q & A session. The purpose of the field trip is to conduct first-hand
research on the strategic management to balance the learning acquired during our classroom
discussions.
“To travel is to discover that everyone is wrong about other countries.” — Aldous Huxley
An important lesson to learn is that whether you travel for business or school you no longer only
represent yourself. On this study mission I consider you an ambassador of the USA and The
Ohio State University. My expectation is that everyone will conduct themselves accordingly.
This includes being on time for all scheduled activities and an engaged participant during all
meetings, tours and visits.
“A trip…is an entity, different from all other journeys. It has personality, temperament,
individuality and uniqueness. A journey is a person in itself; no two are alike.” John
Steinbeck from Travels with Charley: In Search of America
I have traveled to 25 countries on behalf of the State of Ohio and have had the pleasure (and rare
displeasure) of traveling with many individuals. The most pleasant travel companions are
appreciative, on-time, courteous, respectful, patient, flexible, and thoughtful. The absolute
most important travel trait in my experience is curiosity. People who are highly curious typically
have the best travel experiences because they are interested in observing and experiencing
everything. This allows them to go with the flow and expand their own personal experiences.
“A journey is like a marriage. The certain way to be wrong is to think you control it” –John
Steinbeck from Travel with Charley: In Search of America
Grading
A substantial portion of each student’s grade will be derived from activities and work performed
as a group and team. These groups/teams of students will be organized by the instructor with an
objective of achieving cultural, gender and educational diversity.
DESCRIPTION
PERCENTAGE
(1)
Participation and attendance *
30%
(2)
Tim’s Ten (Quizzes/Presentations)
20 %
(3)
Group Report- Scope of Work Proposal
10 %
(4)
Team presentation Panama Company briefing **
10 %
(5)
Group/Individual Assignments
15 %
(6)
Final Group presentation
15 %
____
TOTAL
100%
* Some portion of these elements will be earned in Panama
** Half of this score will be calculated from Peer Review evaluation.
Points
100 to 93
92.99 to 90
89.99 to 87
86.99 to 83
82.99 to 80
79.99 to 77
76.99 to 73
72.99 to 70
69.99 to 67
66.99 to 60
59.99 and below
Letter Grade
A
AB+
B
BC+
C
CD+
D
E
Attendance
Due to the frequency of the class and the format of interdependent learning of all participants in
this course, absences of class cannot be made up. If it is necessary for a student to miss class, the
instructor should be notified at least 24 hours in advance. Students will be required to meet with
the instructor prior to the next class meeting, but only a portion of the participation points can be
made up. Students who leave class early or arrive late will also have participation points
deducted from their grade. Students who miss two classes will be penalized one letter grade and
an additional letter grade after each additional class missed.
ACADEMIC MISCONDUCT
Any material submitted for course credit must be: (1) ONLY your own work if it is an
individual-based assignment; (2) ONLY the work of your team if it is a group-based assignment.
Academic misconduct is a serious threat to the integrity and value of your degree. Such behavior
will not be tolerated by your instructor or classmates.
1. Suspected cases of academic misconduct must be reported to the University Academic
Misconduct Committee, per OSU guidelines.
2. Typical penalties include an E in the course and disciplinary probation for a first offense and
dismissal from the University for a second offense.
3. Please review and refer to the Office of Academic Affairs website:
http://oaa.osu.edu/coam/home.html
ADDITIONAL CONSIDERATIONS
If you need an accommodation based on the impact of a disability, please arrange an
appointment with me as soon as possible. We need to discuss the course format and your
individual needs. I rely on the Office for Disability Services for assistance in verifying need and
in developing accommodation strategies.
In addition, this course includes a one week trip to Panama City. If you require special
arrangements for health or dietary considerations, please make these known as soon as possible.
There are activities that require some physical exertion. Please feel free to meet with me at any
time to discuss any concerns or issues about the course, travel arrangements, or your individual
performance.
LECTURE SCHEDULE
“Readings” may be found in the Supplemental Packet (SP) or within Carmen CONTENT and are
subject to change to make the course material more timely and relevant. I welcome any
additional ideas for this list based on your own work during the course.
Therefore, the following schedule is not a contract, only a guideline. Lectures may proceed
faster or slower than indicated, but there will be NO CHANGE to ASSIGNMENT due dates. It
is your responsibility to monitor the class progress and to prepare accordingly. Much of the
classroom discussion and Tim’s Ten will be heavily based on assigned reading for that particular
class. It is imperative that you read the assigned reading before they are introduced in class.
Above all, keep up to date.
Class Schedule (Tentative)
Session 1
8/26
Who?
Lecture: Welcome and introduction: Review syllabus; the role of CIBER; instructor and
student introductions, schedule interview.
INDIVIDUAL ASSIGNMENT 1: Schedule a thirty-minute one-on-one interview with
Tim Sword for either the afternoon of Friday, August 30 or the afternoon of
Monday, September 9.
What is your current understanding of the term Emerging Markets?
9/2
NO CLASS- LABOR DAY HOLIDAY!!
Session 2
9/9
Why?
Lecture: Discussion about Why Export? And Why consider exporting to emerging
markets?; Announce configuration of Company Project Groups.
INDIVIDUAL ASSIGNMENT 2: Conduct independent research and prepare and
present a 3-5 minute presentation titled “My Understanding of Emerging Markets: One
Week Later”
Read: Summary- Why Emerging Markets?
Read: Foley, Ch. 1 “Why Go Global” and Ch. 3 “Harmonized Codes”
Read: Ohio Export Statistics 2012
http://development.ohio.gov/research/documents/b2004.pdf
Session 3
9/16
Where?
Lecture: Researching New Markets and further defining Emerging Markets
Invited Guest Speaker: TBD
INDIVIDUAL ASSIGNMENT 3: Upload to Carmen by noon on Thursday,
September 12 a current news article (published in the past nine months) that supports
why U.S. exporters may want to consider expanding into Emerging Markets.
Accompanying this article write a short justification about why you selected this article
and how it applies to our studies of Emerging Markets. I will select one or two article to
discuss in class.
INDIVIDUAL ASSIGNMENT 4: Read all other student posted articles and
justifications before class to be prepared to discuss each of them. Note: These articles
will likely be source material for a Tim’s Ten.
Read: “Exploring Export Options” Food Export Assoc. of the Mid-West:
http://www.foodexportalliance.org/eweb/DynamicPage.aspx?Site=MIATCO&WebKey=
be50adcd-f78b-4b8a-b27d-a6dca70b9f95
Read: Foley, Chapter’s 4, 5, and 6. “International Product Success, Selecting Foreign
Markets, and Sources of Data”
Session 4
9/23
What?
Lecture: Defining ‘Emerging Markets’
Invited Guest Faculty:
GROUP ASSIGNMENT 1: Develop and upload to Carmen by noon on Wednesday,
September 18 a list of questions to ask companies during initial company interview. Be
prepared to discuss each group’s questions in class.
GROUP ASSIGNMENT 2: Prepare and present a five minute presentation about how
your group is organizing and progressing on your company project. (Each team member
should speak during the presentation.)
INDIVIDUAL ASSIGNMENT 5: Bring all forms for CIBER office (copy of flight
itinerary, copy of passport, copy of HTH form, copy of Health Form)
Read: Summary- “Does Adversity in Emerging Markets..…” (SP)
Read: “When are Emerging Markets no longer Emerging?” Wharton (SP)
Read: “Five Myths about Emerging Markets” HBR (SP)
Session 5
9/30
The Panama Canal
Lecture: The Panama Canal; Assign Panama Company visit briefing presentations
Video: “A Man, A Plan, A Canal” – a 50 minute PBS video narrated by David
McCullough (author of JOHN ADAMS) that recounts the construction of the Panama
Canal, including remarkable archive footage.
Read: “The Wonder Story of the Panama Canal”, Popular Mechanics, 1913 (NOT a
typo!) (SP)
http://media.popularmechanics.com/documents/PopMechDecember1913.pdf
Read: “A Man, A Plan, A Canal: Panama Rises”; Smithsonian, March, 2004 (SP)
Session 6
10/7
Student Group Presentations
Lecture: Student Presentations: Company overview and detailed proposed scope of work
for company consulting projects. (Presentations should be between 15-20 minutes) (This
presentation counts for 10% of each student’s grade.)
Invited Guest Panel: TBA
GROUP ASSIGNMENT 3: Prepare and present a presentation about your company,
including product, export experience, your group meeting and proposed scope of work.
Class will include time for instructor, guest panel and student feedback including the
scope of work discussion.
Session 7
Logistics
10/14 Lecture: The Panama Canal Expansion and what it means for Ohio and U.S.
Invited Guest speaker: Mark Locker, Ohio Department of Transportation to discuss the
potential impact of the 2014 expansion of Panama Canal on Ohio and U.S. trade.
GROUP ASSIGNMENT 4: Upload on Carmen by noon Wednesday, October 3 the
updated scope of work for the final project.
Read: “Logistics and Physical Distribution” Food Export Assoc. of the Mid-West:
http://www.foodexportalliance.org/eweb/DynamicPage.aspx?Site=MIATCO&WebKey=
be50adcd-f78b-4b8a-b27d-a6dca70b9f95
Read: Foley, Ch. 14 “Logistics”
Session 8
Legal
10/21 Lecture: Country Risk and Legal Considerations in Latin America
Invited Guest speaker: Luis Alcalde, Kegler, Brown and Ritter, Columbus, Ohio
Read: “Note on Country Risk & Competitive Advantage in Latin America”, Ivey (SP)
Read: Foley, Ch’s 12 and 13 “Legal, Tax, and Accounting”
Session 9
International Pricing
10/28 Lecture: Sales and pricing and Group update presentations
Invited Guest speaker: TBD
GROUP ASSIGNMENT 5: Prepare and present a 5-7 minute presentation on company
project status.
Read: Glitter and Graft”, The Economist (SP)
Read: “The Poor Relation- Colon”, The Economist (SP)
Read: Foley, Ch. 11 “International Pricing”
Read: “The Export Marketing Mix” Food Export Assoc. of the Mid-West:
http://www.foodexportalliance.org/eweb/DynamicPage.aspx?Site=MIATCO&WebKey=
be50adcd-f78b-4b8a-b27d-a6dca70b9f95
Session 10
11/4
Culture
Lecture: Business Culture in Latin America and the USA from the Latin Lens
Invited Guest Panel: TBA
Background Reading:
Reading: Summary- Cultural Categories
“Hofstede’s Cultural Dimensions & Geert Hofstede Analysis - Panama” (SP)
Session 11
Panama
11/11 Lecture: Panama
INDIVIDUAL ASSIGNMENT 6: Locate and post on Carmen by noon on
Wednesday, November 6 a current news article (published in the past twelve months)
that better informs and prepares our class to travel to Panama. Accompanying the article
write a short justification about why you selected this article and how it applies to our
trip. I will select one or two article to discuss in class.
INDIVIDUAL ASSIGNMENT 7: Read all student posted articles and justifications
before class and be prepared to discuss any of them. Note: These articles may be source
material for a Tim’s Ten.
Guest speaker: TBA
Read: “Country Fact Sheet: Panama” (SP)
Read: “The United States Contributes to Economic Prosperity in Panama” (SP)
Session 12
Panama Company Visit Briefings
11/18 Lecture: Panama Overview Continued.
Company Report Presentations
PANAMA TEAM ASSIGNMENT 1: Upload to Carmen by noon on Monday,
November 18 company research reports, INCLUDING a separate one-page summary for
the travel packet
PANAMA TEAM ASSIGNMENT 2: Prepare and present a 15-20 minute presentation
to brief the rest of the class about the Panama company visit you were assigned. (Special
Note: I encourage you to create professional, enthusiastic, creative and unique
presentations. Challenge yourself to make it interesting!! Strive to make your fellow
classmates to want to learn more. Visit ted.com for inspiration.)
INDIVIDUAL ASSIGNMENT 8: Individual Peer Evaluations due (Form will be
handed out to class)
Comment- At the end of each presentation, we will reserve some time for a brief
discussion or Q&A session to address:
•
Were any sections or facts confusing?
•
Was information missing that might be helpful?
•
What questions or additional information should be addressed during the actual
visits?
This is not designed as a critique but rather a way to use outside viewpoints to reinforce the
clarity and completeness of your work.
Session 13
Panama Company Visit Briefings
11/25 Company Report Presentations (continued from previous class).
Session 14
12/2
CIBER Panama Travel Briefing
Lecture: Review and Summary
CIBER presentation on trip arrangements & travel packet handout
Discussion: Trip expectations and recommended preparation
Course Evaluation is online only
12/9
Final Due!
12/13 to 12/20 Panama Study Mission
Panama Study Mission