International business and management will continue to grow as a profession as more and more organizations coordinate efforts within the global economy. This exciting field of business deals in three areas of leadership: understanding and maneuvering through international economies, initiating global marketplace business strategies, and leading change within international corporations.
Here are some of the unique skills that professionals pursuing global and international business management will want to develop throughout their education and career.
Understanding International Economics
The successful international manager will be one who sees the big picture. We are often guided in our thinking by how big our world-view is and how much exposure we have had to other cultures. Though a manager may have a keen understanding of how one branch of society processes information and makes informed purchases, the international manager is one who will study international economics to get a better idea of financial tendencies in other countries and economic markets as well. In their excellent book, International Economics: Theory and Policy, authors and accomplished researchers Paul Krugman and Maurice Obstfeld explore current trends in global economics by taking a hard look at economic geography, outsourcing, financial derivatives, and Chinese exchange rate policies so that business leaders on the global stage can understand how to make well-informed decisions.
Initiating Global Strategies
To compete within the global market, an organization has to be willing to venture out and trade beyond cultural and geographical borders. This can prove to be a challenge for many brands, even those that enjoy a large amount of success within a region or country. The company looking to strike out in the global marketplace has many questions to answer. Will their products or services be well-received in a culture that has no name recognition for them? How can they market in such a way that consumers will trust their products? How much are they willing to invest in the development of international products or marketing campaigns that will speak to a new customer base? It is a well-known truth in global business that a break-through brand must have a keen understanding of how a culture operates and communicates, and be prepared to make adjustments accordingly if the company expects to build a customer base in that area.
Leading Change at the International Level
Great leaders in business are men and women that employees and colleagues can trust when it comes to decision-making and problem-solving. Leading change in business begins with making a comprehensive plan that will optimize the resources, talents, and opportunities found within an organization. A strategy must always keep the end goal in mind. Without a clear understanding of what the end objectives are, it will be difficult to define a plan and make necessary adjustments when necessary.
Communication is another component that can make or break change management on an international level. Poor communication puts workers at a disadvantage and can slow the process down, or even destroy any chances of success for an organization. This can be particularly tricky when working on a global scale. Leaders will be working with employees that possibly have a culture and language barrier, also leaders across international borders must be adept at working with virtual teams. Leading change on a global level means communicating realistic objectives and holding people accountable for their part in the process.
Many of the same skills needed to manage at the regional and national level are required within international management. Problem-solving, critical thinking, good communication, and business knowledge are all required of professionals working in leadership positions throughout business. The best trained managers will have a solid education, like an online MBA, to equip them with the understanding of how to lead well and take their organizations where they need to go.
Are there online International Business MBA programs?
The landscape of education has drastically changed over the years. What was once an education for the elite, university degrees became the unquestioned next step for the average high school graduate. Now with the growth and normalization of online degrees, the world of education is experiencing a new evolution. The MBA degree has not been immune to these changes over the last 100 years, and many will argue that it has become stronger for it.
The MBA is special, in that it provides a broad spectrum of business education for graduate students who want to become well-versed in the matters of economics, marketing, leadership, finance, and accounting. The MBA not only covers business theory, but it also goes the step further to deal with relevant leadership practice using current events and case studies to prepare students for fruitful careers as managers and beyond.
Many MBA programs require that its candidates have between two and five years of relevant business experience before being eligible for registration. While professionals may have a hard time leaving satisfying careers they have invested years into; there is good news in education these days with the advent of the online International Business MBA. This exceptional business graduate degree builds itself around a working professional’s schedule. Classes within online MBAs are often delivered one at a time, and students have the choice of moving quickly through a program or taking their time and completing all program requirements in five or more years. An online International Business MBA is a perfect degree for professionals wanting to lead out in the global marketplace.
What can I expect from working as an International Business Management professional?
If the idea of traveling to make integral business decisions and finding out what it takes to bring a product or service to not just a new market but a new culture sounds exciting, you may be ready to consider a position in international business management. As business continues to grow in all directions, the world is becoming smaller and more organizations are finding excellent resources and opportunities by creating commercial relationships with more countries and amid different cultures. One of the most exciting careers international managers can pursue is that of the management analyst. This profession, also known as a consultant, focuses on how to make an organization more efficient. Another lucrative job in international management is the work of an international marketing manager. International marketing managers oversee the people responsible for creating engaging marketing campaigns. They will watch a project’s budget and draw the most out of the team’s market research. These are just two attractive jobs an online international business MBA graduate can be qualified for in the exciting and ever-developing field of international management.