Swedish furniture giant IKEA has achieved remarkable global growth in the past few years because of its international business management strategies. The localisation technique of IKEA has helped them establish a brand name that resonates with people from diverse cultures.
In today’s interconnected world, businesses should have a clear understanding of the complexities of the marketplace to expand their brand name beyond national borders and manage cross-cultural challenges. As multinational corporations and start-ups are venturing into foreign territories, there is a rise in demand for individuals with core skills and knowledge of international business management.
Let’s take a look at how a degree in international business management can benefit your career and help you grow.
What is international business management?
International Business Management is a topic offered as an undergraduate or post-graduate programme that can prepare you for a management position at an international level. This programme can help you build more profound knowledge and understanding of management practices, such as finance, human resources, operations, marketing, supply chain, business practices, laws, and regulations in different parts of the world.
What are the benefits of studying international business management in a globalised world?
Global perspective and cultural understanding
Studying international business management will help you develop a broad global business perspective, allowing you to broaden your horizons to run a business across multiple cultures and countries. It can empower you to navigate the complexities of the international business landscape with greater proficiency.
This programme is efficient in building a robust understanding of international marketing management, an important factor in satisfying business needs across the globe.
Expanded career opportunities
Employers eagerly seek out international business management graduates primarily for the broad skillset they possess. Earning an international business and management degree opens up many expanded career opportunities across various sectors, including roles at global corporations, financial institutions, multinational corporations, international trade organisations, and non-profit organisations.
You can pursue a career in international management, including international marketing, global finance, cross-cultural management, global business development, and international trade compliance.
Knowledge of international markets and trade
This is an important aspect of the International Business Management course, where you can build your knowledge of international markets and trade, which is imperative to understanding global market dynamics, navigating complexities, and identifying opportunities.
Strategic decision-making skills
A well-structured international business management course focuses on developing strategic thinking and decision-making capability. Apart from this, you can also build your competency by assessing risks, analysing market trends, and making informed decisions contributing to the success of international business operations.
Networking and global connections
Enrolling in an International Business Management programme opens up many possibilities to connect with industry professionals, faculty, and fellow students from diverse backgrounds. Building a global network of contacts enhances career prospects, fosters cross-cultural understanding, and opens doors to international job opportunities.
Enhanced leadership abilities
Studying an international business management programme greatly emphasises building leadership abilities. This includes refining and polishing skills required to lead diverse teams, navigate a multicultural environment, and effectively manage global business operations.
Adaptability and resilience
Adaptability and resilience are required to become an international business management professional because the global business landscape is constantly changing and often has cultural nuances and market conditions. Pursuing an international business management degree can help you acquire the skills to embrace change, be flexible, and thrive in a dynamic and uncertain global setting.
Innovation and creativity
International business management encourages innovative thinking and creativity in solving complex business challenges through practical learning experiences. Upon graduating, you will be equipped with the mindset and skills to develop innovative strategies, products, and services that cater to diverse markets and consumer needs.
Innovation is vital in enabling companies to adapt and overcome the obstacles presented by change. It serves as a catalyst for growth, as stagnation can have severe repercussions for businesses. Embracing innovation is essential for achieving organisational and economic growth, ensuring survival in today's fiercely competitive landscape.
What is the average salary of an International Business Management graduate?
According to Glassdoor, the average annual salary of an International Business Management is approximately €77,185. There are diverse job roles offered within the international business domain creating countless opportunities for high-paying job roles for graduates.
What is the scope of international business management?
As the world becomes more connected through globalisation, international business management plays a crucial role. It involves handling the complexities of doing business on a global level. The field of international business management is vast, dealing with emerging markets, technological advancements, and increased interconnectedness. As a result, businesses need skilled professionals who can navigate global markets and manage operations across borders effectively. This field offers plenty of opportunities for growth and development.
Pursuing an MSc in International Business Management can help you learn the latest and in-demand skills, making you highly employable for high-paid jobs within the global market. This course, offered by the University of Europe for Applied Sciences (UE), Germany, can help you acquire the knowledge and skills required for a career in the global business landscape.
Your post-graduate studies at the University of Europe for Applied Sciences are enhanced by an integrative and forward-looking learning experience using scientific methods, interactive business games, interactive case studies, and valuable projects and research internships.
Click here to find out more.
04.07.2023 | By Vinisha Prasad and edited by Nancy Peters | Category: Students