BSc International Business, Finance and Economics

This course examines the intersection of international business strategy, financialization, and shareholder value maximization. Students will critically analyze corporate governance, the socio-cultural impacts of financialization, and its role in shaping corporate behavior, with a particular focus on the pharmaceutical sector. The course also explores the causes, aftermath, and social consequences of the Global Financial Crisis (GFC), highlighting its long-term effects on business practices and governance structures. Furthermore, the course addresses the changing landscape of international business in the digital age and the volatile, uncertain, complex, and ambiguous (VUCA) world. Students will gain insights into how businesses navigate and adapt to these dynamics, balancing internal and external factors to succeed in an increasingly complex environment.

BMAN24141 OR BMAN24132 OR BMAN24492 is pre-requisites of BMAN33000. Core for IBFE and BA (Econ) Business Studies specialists.

• To understand the significance and development of financialiastion in shaping corporate management decisions and their outcomes.
• To explore how corporate management faces complex challenges that are specific to the industry and the conjuncture.
• To further develop the practical skills necessary to research an individual company in industry and macro context from primary and secondary sources.
• To develop the intellectual skills of analysis and synthesis of research findings; as well as continuing the development of report writing skills introduced by International Business Strategy.
• To build the transferable skills of initiative and judgement necessary to independent research.  

On successful completion of the course unit, students are expected to:

• Develop your knowledge of the economic and legal issues facing international businesses today, especially the influence of financial markets in a global context.
• Understand to what extent and how companies attempt to balance shareholder value with other objectives including social responsibility, in a specific industry context.
• Appreciate how significant macro events and shifts, such as the global financial crisis and its aftermath, shape corporate management.
• Be able to plan a significant piece of work, take responsibility for meeting milestones and deadlines.
• Locate and use basic primary and secondary sources for researching a company and sector.
• Synthesise and write up the results of research in a theoretically informed way which focuses the key issues.
• Transfer research skills to study other companies and contexts.

The course will equip students with a variety of transferable and industry-relevant employability skills, including:

• Strategic Thinking: Understand the relationship between organizational design, strategy, and the environment, while developing long-term strategic solutions to problems.
• Analytical and Problem-Solving Skills: Cultivate the ability to diagnose organizational issues, assess structures, and propose evidence-based solutions using analytical frameworks.
• Critical Thinking and Decision-Making: Engage critically with concepts and theories to assess complex situations and make well-informed decisions.
• Communication Skills (Written and Oral): Demonstrate the ability to clearly and persuasively present ideas, recommendations, and analyses in both oral and written forms.
• Time Management and Prioritization: Effectively manage multiple tasks and deadlines, ensuring high-quality outcomes within set timeframes.
• Research and Information Management: Collect, synthesize, and analyze unstructured or ambiguous data to address organizational challenges.
• Self-Awareness and Cultural Sensitivity: Show openness to diverse perspectives and cultural differences, while considering ethical aspects in organizational contexts.
• Adaptability and Lifelong Learning: Develop the ability to quickly learn and apply new ideas, adapting to dynamic and changing business environments.

• Pharma Industry
• Financialization  
• Financialization and corporate governance  
• Financialization and culture
• Political and cultural perspective on Pharma Industry  
• Understanding the global financial crisis
• Global Financial Crisis: Causes and Aftermath
• Global Financial Crisis: Impacts and Consequences
• Post-Global Financial Crisis: Rethinking Finance
• Social Impacts of the Global Financial Crisis and Anti-Globalisation Sentiments
• International Business in the age of Digitalisation
• International Business in VUCA World 

Lectures

The course includes twenty one-hour lectures that introduce key concepts. These lectures also feature various interactive in-class activities, including discussions of real-world business cases and online quizzes. These activities enable students to assess their understanding of key concepts and theories, while also providing formative feedback to help improve their understanding.

Seminars:

The course includes ten one-hour seminars (5 seminars each semester), where students engage in case analysis based on real-life examples.

Individual Reports:

Students are required to submit a 2000-word assignment each semester. These individual assignments ask students to apply relevant theories and concepts as analytical tools to evaluate macro-level trends such as financialization, digitalization, and globalization, as well as examine internal dynamics within firms to better understand corporate behaviours and strategies.

Alongside the formative feedback provided during lectures and seminars, students will also receive summative feedback on their individual assignments.

• Understand the interplay between shareholder value, corporate objectives, and social responsibility within specific industries.
• Analyze the role of financialisation and macroeconomic events, such as financial crises, in shaping corporate decision-making and strategy.
• Demonstrate a thorough understanding of the economic, legal, and financial factors influencing international businesses in a global context. 
   

• Critically evaluate the impact of industry-specific challenges and global trends on corporate management strategies.
• Synthesize diverse sources of information to construct a theoretically grounded analysis of companies and sectors.
• Apply frameworks and concepts from international business and financialisation to assess corporate strategy and decision-making. 

• Plan, conduct, and document detailed research into individual companies and sectors, using primary and secondary sources effectively.
• Prepare well-structured, analytically rigorous reports that align with academic and professional standards.
• Use quantitative and qualitative tools to analyze data and derive actionable insights for corporate management. 

• Demonstrate initiative and adaptability in problem-solving within unfamiliar and complex scenarios.
• Manage projects effectively by setting goals, meeting deadlines, and monitoring progress toward milestones.
• Communicate research findings and recommendations clearly and persuasively in written formats. 
   

First Semester Individual Assignment (GSK Report), 2,000 words (40%)

Second Semester Individual Assignment (GFC report), 2,000 words (60%)

Extensive written feedback will be provided on each report. This will be supplemented by generic feedback, outlining the key rationale and justifications for each grade criterion. Both forms of feedback will be accessible upon the release of grades. 

 

Core book:  

• Froud, J., Johal, S., Leaver, A., & Williams, K. (2006). Financialization and strategy: Narrative and numbers. Routledge.

Recommended readings:  

• Lazonick, W., & O'sullivan, M. (2000). Maximizing shareholder value: a new ideology for corporate governance. Economy and society, 29(1), 13-35.
• Van der Zwan, N. (2014). Making sense of financialization. Socio-economic review, 12(1), 99-129.
• Bobek, A., Mikuš, M., & Sokol, M. (2023). Making sense of the financialization of households: state of the art and beyond. Socio-Economic Review, 21(4), 2233-2258.
• Engelen, Ewald, Ismail Ertuk, Julie Froud, Sukhdev Johal, Adam Leaver, Ismail Ertürk, Mick Moran, Adriana Nilsson, and Karel Williams. After the great complacence: Financial crisis and the politics of reform. Oxford University Press, 2011.
• Crotty, J. (2009). Structural causes of the global financial crisis: a critical assessment of the ‘new financial architecture’. Cambridge journal of economics, 33(4), 563-580.
• Ötker-Robe, Inci, and Anca Maria Podpiera. The social impact of financial crises: evidence from the global financial crisis. The World Bank, 2013. 
   

For Academic Year 2025/2026

Updated: March 2025

Approved by: March UG Committee