"World Business from a European Perspective"

Millikin University
January Immersion

Europe 2006
Europe 2005

Europe is in a constant state of change. More now—it could be argued—than at any other time in its history. After the end of World War II, Europe began a massive rebuilding effort. In 1950, Robert Schuman, then French Foreign Minister, first proposed the idea of European integration to prevent the destruction caused by WWII from ever happening again.

In 1951, the European Coal and Steel Community (ECSC) was established with six Member States. Over the years, the Community slowly expanded to 12 Member States, and with historic economic agreements, the European Union (EU) was born on 1 January 1994. The EU grew to 15 Member States in 1995 with a combined GDP just under that of the United States (US) and a population over 23% greater. In 2002, the EU launched a common currency, the Euro, at the consumer level in 12 Member States commonly referred to as the Euro-zone.

On 1 May 2004, the European Union expanded from 15 Member States to 25 further blurring the line between Europe and Asia. More recently, Romania and Bulgaria were added on 1 January 2007 bringing total membership to 27. Although this expansion increases the population to a point over 62% greater than the United States, the people of the EU live in an area only 44% the size of the US with a combined GDP marginally smaller.

Europe is no longer just another market to be exploited. The EU is a new economic superpower learning to speak with one voice, and as we have seen in the recent past, it has begun to spread its wings and exert its economic influence internationally. As it does so, the US and the world have increasingly had to respect the EU's newfound power and legitimacy. This has also meant that American business professionals traveling abroad must understand and respect cultural, political and economic diversity more than ever before in order to develop and maintain successful business relationships.

Unfortunately, the American traveler is still branded with the "ugly American" moniker. What is more, the American business professional is still regarded as a "cowboy" riding in to seal the deal in fifteen minutes with "Hello" being the only social skill required. Successful international business professionals recognize that "Hello" is just the beginning.

With this in mind, the objectives of this course are:
• To challenge students to think beyond one's own borders.
• To enhance each student's "globility" — the combination of global knowledge, awareness, sensitivity, and experience.

This will be accomplished by:
• Exposing students first-hand to a variety of businesses—both multinational and domestic—located in Europe.
• Introducing students to different cultural, economic and political environments within Europe.
• Familiarizing students with the logistics and protocols of doing business in Europe.