An MBA in international business could prepare you for a global career
The world’s economy is becoming increasingly global, and the right knowledge can broaden the “bandwidth” of aspiring business leaders — especially for those professionals who are looking to share their insight and expertise on an international level.
Countries such as China, Japan and India’s economies are among the world’s top 10 (ranked second, third and fifth, respectively). This reflects the US and Europe’s reduced share of the global gross domestic product (GDP). This trend is set to continue, with Indonesia, Brazil, Russia and Mexico expected to join the top 10 by 2050, according to PwC’s The World in 2050 report.
Many Fortune 500 companies have operations all around the world with international customers. In a survey conducted by USForex, about 58% of small businesses already had international customers, with 72% planning on growing their customer base in the coming years.
It’s apparent that business professionals need to understand global markets to deal effectively across cultures in the future of work. An MBA in international business could help you work with businesses in your native country and those abroad. Here’s what you need to know:
What is an MBA in international business?
Modules will invariably vary between universities but students can generally expect to undergo rigorous graduate studies that teach them the ins and outs of international markets. You might find an emphasis on statistics, finance, and accounting, while some programmes may include travel opportunities for a more holistic learning experience.
Nova Southeastern University’s College of Business & Entrepreneurship’s MBA with a major in International Business programme, for instance, prepares professionals to meet the needs of startups, nonprofits, or multinational corporations across the globe. This programme is taught by Fortune 500 business executives and other industry leaders who have experience in managing across borders and in different cultural and institutional environments.
The programme, like many others, offers its students a number of opportunities to gain real-world experience by studying emerging markets in the classroom; completing an internship; or traveling and studying abroad with the International Field Seminar.
For those that prefer a more flexible approach, the Online MBA – International Business programme from Campbellsville University explores the trends, principles and practices of foreign businesses to prepare graduates for career advancement. Upon completion, these professionals can expect to succeed in a variety of positions – these include in roles such as finance manager, project manager, business development manager and international trader.
Apart from industry opportunities, another key perk to pursuing an MBA in international business is the chance to network. Networking with people across various industries is often a requirement to emerge as a successful international business professional. Most companies are on the lookout for candidates with massive networks across diverse fields to help them grow their business.
Upon completion, graduates will be equipped with an arsenal of knowledge and skills that can make them ideal candidates for leadership positions within companies. These roles can also be financially rewarding.
According to the PayScale, MBA in international business graduates can make around 93,000 US dollars per year on average. Graduates in the field often pursue careers abroad or acquire leadership positions in organisations engaged in business on a global scale.