Online Master's Degree Programs in International Business
The marketplace for goods and services is becoming increasingly global in today’s world, and companies need professionals who are trained to conduct business across many borders. A master’s in international business helps impart an understanding of trade, investment, financial, and marketing strategies that work best in multinational firms. Students in this program will also study the political, cultural, and commercial environments of foreign markets. The degree is also offered as a master’s of business administration (MBA) with a concentration in international business and global management.
What Does a Master’s Degree Program in International Business Entail?
A master’s degree can typically be completed in one to two years of full-time study. Cultural sensitivity, written and oral communication, and leadership skills are areas of focus for this online degree. Some examples of courses include:
- International Management: Students learn about the theories and applications of organizational leadership in global business settings. Concepts deal with the challenges facing managers on three levels: multicultural employees in the U.S., international assignment valuations, and global working environments. Students may learn that management styles that work in the U.S. do not necessarily translate well in other countries. For example, a consensus-based managerial approach that works in the U.S. may not accommodate a foreign branch within the same company, where employees are more accustomed to top-down supervisory procedures.
- Law in International Business: This course examines the necessity and impact of import, export, and tariff policies between the U.S. and partnering countries. Coursework also examines regulatory issues facing businesses trying to enter the international marketplace. Topics involving trade, licensing, and foreign investment through mergers, acquisitions, and joint ventures are covered. For companies expanding into foreign markets, a complete understanding of tax regulations, for example, can help businesses maximize profits.
- Technology for Global Competition: Students learn about innovations that help shape corporate strategy for global competition. Students study new technologies that can improve both internal and external production, as well as information gathering and dissemination processes. Coursework uncovers how information technology is being used to shape the 21st century, multinational work environment. Students also learn about managing global supply chains that stretch across different geographies. Technologies help professionals monitor their inventory, communicate where it needs to be moved, and allocate resources to transfer it.
Career Outlook for Graduates of Master’s Degree Programs in International Business
According to the Columbia School of International and Public Affairs, companies usually transition employees for work in international markets by first giving them in-house training. This is to ensure they are familiar with domestic operations. Once those training programs are over, these employees can be ready to represent the business abroad.
Current financial analysts in a U.S.-based firm may wish to pursue a master’s in international business to venture into a foreign branch of the company. Professionals can combine their knowledge of domestic financial and business models with the master’s degree to help their company expand overseas. Some financial analysts are asked to specialize in a specific country or region of the world. They will need to be able to understand and handle the different culture, business environment, and political conditions of the area they are in charge of overseeing. The Bureau of Labor Statistics (bls.gov) expects this position to grow by 23 percent nationwide from 2010 to 2020.
Online Degree Programs in International Business
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