Today, the “business world” really does encompass markets across the globe. Thanks in part to modern technology, more companies and organizations than ever are handling business transactions that span countries and even continents. If you don’t want anything to hold you back in the ever-evolving field of business, studying global business can help you understand the complexities of handling foreign deals and transactions.
Understanding International Business as an Academic Subject
Most international business programs cover the same fundamental business theories and practices that you would find in a general business program. After all, no matter where they plan to conduct their business, students need to know the basics of business to succeed. Often, this includes taking classes in accounting, economics, finance, human resources, management and marketing.
However, the best international business programs also leave their students with a strong educational foundation in managing global businesses specifically. These programs often include studies in subjects like globalization, the laws and regulations that affect international business trade, global supply chain management and cross-cultural management. Even the more general business subjects may require a new perspective or approach when applying them to other regions, which is why global business degree programs frequently offer courses such as international marketing.
Of course, there’s more to being successful in the business world than simply knowing basic business principles. Aspiring businesspeople who want to work in international trade must understand the different societies with whom they will do business, including their beliefs and etiquette. That’s why coursework in the geography, politics and cultures of various nations and continents is also common for students pursuing a degree in international business. Some – but not all – global business programs may encourage or even require that students learn a foreign language, complete a study abroad experience or both.
Levels of Studies in Global Business
Opportunities to study international business exist at the undergraduate and graduate level. For ambitious undergraduate students, some of the top online global business programs offer dual degree programs that allow you to earn both a bachelor’s and master’s degree at an accelerated pace.
At some schools, global or international business is a concentration within the curriculum of a general business degree, like a Bachelor of Business Administration or a Master of Business Administration (MBA). Students complete required core business courses and use electives to study global business in greater depth. Other schools offer separate programs of study in the field, such as an MBA in International Business.
The increasing globalization of the business world isn’t just a trend that’s likely to change direction anytime soon. The phenomenon has been going on for long enough that having “knowledge of international business practices is becoming highly valued in job candidates,” according to the United States Bureau of Labor Statistics (BLS). This means having a degree in global business could set you apart from the crowd when it comes to finding your dream job.