In response to the growing trend driving businesses to emerging markets overseas, a new business school concentration called International Business was born. So what is an International Business degree? An International Business degree is a business school program that recognizes the intricacies of marketing, managing, and financing companies doing business in geographically unfamiliar territory. While this type of degree program cannot address specific business operations in all regions, it gives its graduates a framework to accurately assess the market environment and make reliable recommendations towards strategic decision making related to all aspects of business operations.
Unique Business Courses Offered Within International Business Degree Programs
Most International Business degree programs offer a broad base of advanced business courses along with an opportunity for students to concentrate in particular aspects of international business like management, finance, or marketing. However, business courses offered within International Business degree programs nearly always include those that focus on analysis of global industries. When students have a good understanding of the global business landscape of industries, they are able to analyze the various business players in those markets to identify strengths, weaknesses, opportunities, and threats. Courses covering the legal and regulatory requirements for operating in various geographic markets and global industries are also included in most International Business degree programs. Additionally, International Business degree programs cover coursework that presents students with strategic models for entering markets overseas.
The Role Culture Plays On The International Business Stage
Many of the course topics covered within typical International Business degree programs relate to the cultural differences experienced while serving overseas markets. The culture of a region influences marketing, public relations, and even contract negotiations. International business professionals not only have to deal with the culture of the people in certain regions, but they also must understand the culture of their governments which may not be representative of the people they serve. International Business degree courses also cover managing global human resource activities. International Business degree programs usually include a study abroad segment that allows students to immerse in the culture and business climate of a country considered to be an emerging market.
Gaining Entrance Into An International Business Degree Program
Many schools with International Business degree programs require students to have completed an undergraduate degree in business or a related field before they are accepted into their degree programs. Students must also take and get an adequate score for the appropriate aptitude tests like the GMAT. Some schools require students to have had some prior experience in multinational businesses before they accept the students into their program. Additionally, an essay stating career goals and reasons for entering an International Business degree program is usually required of students during the admissions process.
Typical Career Opportunities For International Business Graduates
Career opportunities for International Business degree graduates normally vary by concentration areas chosen. For instance, graduates of International Business degrees with concentrations in management have opportunities to serve as global supply chain managers. Graduates with a concentration in finance may find employment within the international banking community. Employment opportunities abound in both the private and public sector as many governments need competent liaisons with business and inter-cultural communication skills.
A degree in International Business prepares graduates for careers with multinational corporations as well as those that have global business aspirations. The programs are often a rigorous mix of advanced business courses and inter-cultural communications classes held at the graduate level.