Doing Business in Emerging Markets

Learning outcomes

Upon completion of the course, you will be able to:
• Critically assess the opportunities and risks associated with doing business in emerging markets;
• Understand the key factors influencing strategic choices of the firms expanding abroad into/from emerging markets;
• Understand and apply conceptual frameworks to situations facing firms when operating in emerging markets;
• Understand ethical dilemmas facing firms and employees in emerging markets.

Content

The rise and transformation of emerging market economies around the world over the past three decades is clearly one of the megatrends of this century. The role of emerging markets is significant not only because of increased cross-border trade and investment in these economies, but also because of their impact on the societal, (geo)political, and cultural trends on the global scale. As such, developing an understanding of whether and how to do business in emerging markets is no longer an option for most firms but a necessity.

This course aims to untangle the rewards and challenges and chart opportunities for doing business in emerging markets. These markets are often associated with high uncertainty, turbulence, and volatility, yet they also present tremendous business opportunities. Moreover, businesses that are adept at operating in such “VUCA” (volatile, uncertain, complex, and ambiguous) environments, and can adjust rapidly to an altered business context, are likely to be more resilient in the times of increasing radical uncertainty and global disruptions.

The course will explore a wide range of issues relating to why, under what conditions, and how to do business in and with emerging markets. During the course we will 
a) discuss the common characteristics, pathways to economic transformation, opportunities and challenges presented by the emerging markets, 
b) introduce the internationalization strategy alternatives for entering emerging markets, 
c) discuss the internationalization strategies of the emerging market multinationals; 
d) present the ways to manage the operations, people, and government relations in emerging markets, 
e) provide insights on the marketing communication strategies and digital marketing activities in emerging markets, 
f) discuss the role of the companies in development actions in emerging economies aimed at accomplishing the sustainable development goals (SDGs), and 
g) engage in the discussion about the new geopolitical era of international business and the role of political risk in emerging markets (with the specific focus on Russia).

Teacher
Valentina Arrieta

Study material
A reading package consisting of academic and managerial articles.

Online learning environment for the course & Activating Aalto ID

MyCourses online learning environment is a tool for both students and teachers for communication and managing everyday course work. You need an Aalto User ID to log in to the course's MyCourses workspace and participate in teaching. You can activate your Aalto User ID the day after the registration and you should activate it no later than the day before the start of the course. Instructions for activating your Aalto User IDDigital workspace of the course:
MyCourses 

More details on completing the course will be available at MyCourses closer to the start of the course.

Workload

Contact teaching 30h 
Independent work 130h 
Total 160h (6 ECTS)

Prerequisites

There are no prerequisites to take this course. However, since this is a masters level business course, students who have not taken any business courses previously need to be prepared that they may have to do some extra independent work to understand some business concepts. If you have any questions if your background is suitable for the course, feel free to contact the course teacher. 

Evaluation

The course assessment will be based on the following components:
• Assignment 1: reflection on pre-readings (40%)
• Assignment 2: Individual or group final course report (50%)
• Assignment 3: Participation in the discussions (10%)

To get credit for the course, 70% of the lectures must be attended (7/10). The class takes place online. You are expected to be on time and prepared to participate actively during the course sessions.

Final grade (0 to 5) is based on the points below:
0-49 points = 0
50-59 points = 1
60-69 points = 2
70-79 points = 3
80-89 points = 4
90-100 points = 5

All assignments must be submitted in order to get a final grade for the course. General feedback is given during the lectures and/or on MyCourses following the submissions. Specific feedback could be given personally for students upon request. Note that turning in class assignments is considered acknowledgement of guidelines on scholastic honesty and academic integrity.

Teaching time and location

This course is organized fully online. You are expected to be on time and prepared to participate actively during the course sessions. To get credit for the course, 70% of the lectures must be attended (7/10). Please see the course schedule below. Please note that this is a preliminary schedule, topics and assignments are subject to change.

Registration and course fee

Registration for Open University courses is done in Sisu-service. 
Course registration

Registration for this course starts on 25.3.2024 at 9.00  
Registration for this course ends on 29.4.2024 at 23.59

The course fee is paid upon registration for each course at a time and it is binding. Familiarize yourself with registration and payment rules as well as other guidelines for students:
Registration, payments and rules

If you are an attending degree student at Aalto University, it is possible for you to complete this course for free of charge during summer 2024. Registration is done normally in Sisu. Please make sure that you have the correct course code in your study plan before registering to the course. You can check the course code from the top of this page.
Instructions for course registration (for Aalto degree students)

Read more about Aalto University's summer studies:
Summer studies

This course is organized by the Aalto University Open University.

Further information
Equivalences to other courses: This course subsitutes for 26E00250 Doing Business in China, 26E02500 Doing Business in Russia and MNGT-E2001 Doing Business in Emerging Markets.

Individual study arrangements

If you need individual study arrangements in order to attend a course, contact the Open University office ([email protected] ) in good time, at least 14 days before the start date of the course or the examination date. Further information about individual study arrangements:
Individual study arrangements at Open University