Industries are expanding all across the globe, creating a need for experts who are well-versed with the international business scope. Technology and communications have diminished the physical boundaries between businesses, allowing them to interact and become a part of the large global business market. As more businesses are seeking market share outside their own country, international business has emerged as an important part of the field. Now individuals can pursue this discipline to prepare for a career in the international business world.
Masters in International Business
International business degree programs are offered by many institutes at both graduate and undergraduate level. A master’s degree in international business is a graduate level program. It is designed to equip students with a thorough understanding of the broad field, and prepare them for a challenging career in the dynamic business industry.
The program entails a number of management-related subjects and assignments. Students will cover in-detail areas such as the following:
International Business Environment
This course will help students learn about the global markets, industries, and competitors. Students will learn how business practices are implemented. Some of the areas covered in the course include import/export, foreign direct investment, international service agreements, licensing agreements, and domestic competition.
Financial and Managerial Accounting Methods
In this course, students will acquire an overview of the financial aspects of businesses. Topics covered include financial accounting, financial reporting, current standards of accounting, and issues related to the field.
This course will cover the current economic issues faced by international trade organizations. Students will develop strong fundamental concepts related to economics. Topics covered in the course include recession, economic models, inflation, currency movements, investment and trade.
International Market Research and Analysis
In this course, students will learn how to conduct research using state-of-the-art technologies and tools. Marketing research is an important part of the business world. This course will cover a number of areas such as data procurement, data analysis, marketing research, and more.
International Business Strategies
This course will allow students to understand how international business strategies are developed. The course will shed light on the importance of business strategic development, implementation, execution, and assessment.
This course will provide students with an overview of the various dimensions of international accounting. Areas covered in the course include internationalism, accounting and finance principles, and more.
In this course, students will learn about the common practices of international negotiation. The course will enable students to develop strong communication and negotiation skills.
International Business Law
This course will analyze the legal environment and will provide students with an overview of regulations faced by international businesses. Some of the key areas covered in the program include antitrust law, securities law, trade and investment law, and jurisdiction issues.
International Business Policy
Students will gain an insight on various business strategies and how they are affected. The course will cover areas such as forecasting, contingency strategies, environmental constraints, and case methods.
Skills Developed Through This Program
Duration of the Program
Typically, it takes around two years to complete a master’s degree. But some institutes are also offering accelerated masters in international business. An accelerated degree can be completed in less than two years. You can check with the prospective schools to learn about the duration of master’s degree they are currently offering.
Credit Hour Requirement
Each course in the program is the equivalent to a number of credit hours. Students are required to cover all the program components and attain the minimum number of credit hours. The average credit hour requirement of a master’s degree ranges between 30 and 60.
How to Enroll
Fill out and submit an admission form
Bachelor degree transcript
Meet the minimum CGPA requirement
Submit letters of recommendation
Every school or college has designed its own admission criteria for masters program. It is important to remember that the admission requirements may vary from place to place. Therefor it is recommended that you get information regarding admission from the prospective school’s admission page online, or personally visit the admission office.
Online Master of International Business Programs
There are many schools offering online degrees in this field. Online Master of International Business degree programs are ideal for you if you are engaged in part time or full time employment. The flexibility of the online programs makes them ideal for working professionals. Some of the benefits of online learning are:
Easy to manage
The Scope of MBA in International Business
With this degree, you can seek work in many different organizations. You can also launch a career in multinational firms depending upon your area of specialization. The degree will equip you with a thorough understanding of how organizations work in the international business environment. Here are a few areas where you can find work:
Hospitality and tourism
You can apply for different job positions with a master’s degree in international business. Here are few of the jobs available to degree holders along with detailed information about median annual income provided by the Bureau of Labor Statistics:
Import compliance specialist $64,340 (2013)
International HR manager $99,720 (2012)
Marketing Manager $115,750 (2012)
The income level will vary from job to job and will depend upon many other factors such employer and location.