Page 95 - Business Studies 11-12 (2006)

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THE ONTARIO CURRICULUM, GRADES 11 AND 12: BUSINESS STUDIES
Factors Influencing Success in International Markets
Overall Expectations
By the end of this course, students will:
• analyse the ways in which cultural factors influence international business methods and operations;
• assessthewaysinwhichpolitical,economic,andgeographicfactorsinfluenceinternational business methods and operations;
• identify and describe common mistakes made by businesses in international markets;
• evaluate the factors currently affecting the international competitiveness of Canadian businesses.
Specific Expectations
Cultural Factors
By the end of this course, students will:
– describe the modifications made to goods and services to adapt them to the cultures of other countries (e.g., changing ingredi- ents of packaged food products, avoiding certain colours or images in packaging, modifying the range of foods offered in restaurants);
– describe the challenges an international company may encounter with regard to ethics, values, language, and business prac- tices in the various countries in which it operates (e.g., accommodating protocol and customs of local culture during inter- national meetings, managing culturally diverse workforces);
– explain how the global market (e.g., global distribution and availability of products) has affected consumer demand.
Political, Economic, and Geographic Factors
By the end of this course, students will:
– evaluate the advantages and disadvantages in both developed countries and develop- ing countries with regard to business opportunities (e.g., size of consumer base, government regulations, infrastructure, cost of labour);
– explain the impact that geography and political and economic systems have on international business;
– describe the roles corporations can play in the setting of international and domestic policy (e.g., lobbying, participating in trade missions).
Avoiding Common Mistakes
By the end of this course, students will:
– identify, drawing on information from a variety of sources, including the Internet, common mistakes made by companies when entering foreign markets;
– identify and describe the problems that some companies have experienced when exporting goods and services (e.g., changes in exchange rates, increases in duties, restrictions on products).
Canada’s International Competitiveness
By the end of this course, students will:
– explain why some Canadian businesses enjoy success in a variety of international markets while others do not;
– explain how Canada’s cultural diversity contributes to its competitive success in international business;
– explain how changes in the value of the Canadian dollar can affect business oppor- tunities (e.g., how a lower-valued dollar can boost export sales in the short run);