Career Information - International Business
There was a time when the only competition you had to worry about was the rival store up the street. Nowadays, your competition is everywhere. Thanks to globalization and the Internet, you must compete with all vendors all over the world.
International Business: If you can't beat them, join them.
While increased competition looks discouraging on the surface, it is actually a blessing in disguise. True, you must compete with many more rivals, but this also means that you can do business for a fraction of what it used to cost. If you own a shoe store, for example, you no longer have to buy your shoes from a factory in Canada. You can buy them more cheaply from a factory in Brazil. International business allows for those companies with the best prices, service, and quality to rise to the top. It also allows (and sometimes forces) you to integrate more ideas, products, and technology into your existing company. Just look at how much American cars improved after Japanese car companies came into the picture.
Finding new markets
The world is a vast deposit of resources, business opportunities, and options. International business deals with identifying these areas and using them effectively. For this reason, many businesspeople focus on international business when pursuing an MBA. Not only do you learn traditional areas such as economics, finance, and marketing, but you also learn how to appreciate cultural differences, identify potential new markets, and coordinate global ventures. Not to mention, many programs require proficiency in at least 2 languages.
Job outlook
Potential jobs in international business are numerous. Financial analysts, salespeople, translators, and interpreters are some of the more obvious ones, but the list is limitless. Expect it to increase even more as the world becomes more integrated. Increasingly, the term "international business" is becoming synonymous with "business." After all, it is almost impossible to conduct business without some degree of involvement from other nations.
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