What Does International Business Mean? international business

This can create a “blind spot” during the decision making process and result in ethnocentrism. Education about international business introduces the student to new concepts that can be applicable in international strategy in topics such as marketing and operations. The government might be corrupt, hostile, or totalitarian; and may have a negative image around the globe. A firm’s reputation can change if it operates in a country controlled by that type of government. Also, an unstable political situation can be a risk for multinational firms. Elections or any unexpected political event can change a country’s situation and put a firm in an awkward position.

  • If you’re unsure about the application process, contact the admissions team for help.
  • English language studied within one of the above qualifications is normally sufficient to meet the university’s minimum entry requirements.
  • At the beginning of each module, you’ll be given information on how and when you’ll be assessed for that particular programme of study.
  • Making decisions is one of the most important things any manager or business must do.
  • Hymer and Dunning are considered founders of international business as a specialist field of study.
  • Exchange rate fluctuations can also affect the foreign demand for a U.S. firm’s product because they affect the actual price paid by the foreign customers .

A knowledge of both strategic management and entrepreneurship will enhance your understanding of international business. As the opening case study on Google suggests, international business relates to any situation where the production or distribution of goods or services crosses country borders. You could study a foreign language as one of your optional modules, opening up career opportunities overseas.

Studying international business allows you to see how globalisation has brought about an increasing ‘connectedness’ of businesses, markets, people and information across countries. There is an increasing amount of demand for business people with an education in international business. A survey conducted by Thomas Patrick from University of Notre Dame concluded that bachelor’s degree and master’s degree holders felt that the training received through education were very practical in the working environment. Increasingly, companies are sourcing their human resource requirement globally. For example, at Sony Corporation, only fifty percent of its employees are Japanese.

Importance Of International Business Education

When awarded by CBSE, ISCE or West Bengal Exam Boards, we typically ask for results in the region of 78% – 88% average performance from best 4 subjects. For other state boards, we would be looking for achievement between 83% – 93% from best 4 subjects. Specific subject marks at Standard X or Standard XII may be required for some courses. By the end of the module, students will have an understanding of how specific companies use big data and a grasp of the actionable steps and resources required to utilise data effectively. The University will consider students who have taken A Level examinations and the International Baccalaureate for entrance to undergraduate programmes.

The experience of work and employment, management practices are affected by rapid technological change, intensifying global competition and changing demographic profiles and values of the work force. Contemporary organisations are pressurised to tackle these developments through creativity, innovation and new organisational forms. Students will be introduced to the main concepts and theories on creativity, innovation and organisation through readings and discussions of the main themes and debates in the field. Case studies will be used to illustrate how these concepts are connected together and how they could impact upon management decision making within contemporary organisations.

In capitalist countries, the government has less influence because it imposes lower taxes and therefore has less funds to spend on the people. Businesses and highly skilled workers generally prefer capitalist countries because there is less government interference. When it established stores in Argentina, it initially used the same store layout as in the United States, but it quickly learned that the local people preferred a different layout. In addition, it conducted meetings with suppliers in English, even though the primary language of the suppliers was Spanish.

What Is International Business?

Firm Y typically generates 60 percent of its total revenue from Canada and 40 percent of its total revenue from the United States. A weak economy in Canada will likely have a more negative effect on Firm Y because it relies more on its Canadian business. Assume that Firm X typically generates 20 percent of its total revenue from selling its products in Canada and 80 percent of its total revenue from the United States. European countries have recently attempted to reduce their budget deficits as part of a treaty supporting closer European relations.

To provide a wider scope of operations management in terms of its application and the interface between production, supply chain management and the use of IT and modern technology in operations. The aim of this module is to introduce students to the principles and techniques of personal selling and sales management in industrial and consumer marketing. Already, international business is facing the pressure of increased tension between the U.S. and China, but the enactment of China’s security law for Hong Kong could take the tension to a whole new level, this is show time for Hong Kong. As a student at Kent Business School, you have the opportunity to gain theChartered Management Institute’s Level 5 Professional Qualification in Management and Leadership alongside your degree. You will gain access to exclusive CMI networking events and resources, have the opportunity to attend lectures from top-level CMI industry-expert members and fast track into the next stage of training.