Why Studying International Business Is Important for Your Career

Global business — and the study of it — has been around for decades, but with the advances in technology in the last 20 years or so, both have skyrocketed. Having skills in international business (and intercultural fluency in general) is vital to moving forward in this increasingly globalized world.

A survey by the National Association of Colleges and Employers (NACE) lists that having the awareness, knowledge, and skills necessary to equitably interact with and include people from various local and global cultures is an important component of its Equity and Inclusion competency — one of eight key career readiness competencies identified by NACE.

Also, in a survey by the Association of American Colleges & Universities, 53% of employers said the ability to communicate and work with people from different cultural backgrounds is a “very important” skill. That said, many employers think college graduates are not well prepared in this area. This is why studying business on a global scale is vital.

We talked with Pam DeLotell, PhD, associate dean in the Purdue Global School of Business and Information Technology about the importance of global business and the skills you need for a global business career.

“Economic and technological globalization has already happened,” says DeLotell. “What everyone is moving toward now is that cultural connection that allows us all to respect and engage with cultures different than our own.”

Why Is Studying Global Business Important?

Although some of the biggest companies in the world are headquartered in the United States — think Apple, eBay, Google — their operations span the globe. To interact with the places these companies do business, a knowledge of different cultures and how they operate is key to survival in the marketplace.

Under its Equity and Inclusion section, the Development and Validation of the NACE Career Readiness Competencies report lists these behaviors as indicative of career readiness:

• Demonstrating flexibility and adaptability to diverse environments
• Keeping an open mind to different ideas and new ways of thinking
• Pursuing cross-cultural experiences and global interactions to deepen one’s understanding of different demographic groups and foster personal growth
• Seeking and using feedback from various cultural perspectives to make inclusive and equity-focused decisions

“Employers want to know that you are sharpening your global community skills,” says DeLotell. “[And they want to see] that you can interact with others who may have different cultural, social, and economic backgrounds, experiences, or preferences.”

What Skills Are Needed to Be Successful in Global Business?

The skills learned in pursuing a global business degree or certification can be used in many different fields. According to DeLotell, these top skills are often sought by international companies:

• Adaptive thinking. This skill helps you thrive in an always-changing environment, making you well placed for success.
• Collaboration. Among other qualities, collaboration requires humility, allowing others to take the lead and share credit for success.
• Cross-cultural communication skills. This would require diplomacy, respect, and sensitivity to cultural differences.
• Emotional intelligence. People strong in this skill are self-aware and in control of their emotions, making them better able to react and adapt.
• Excellent networking abilities. This includes developing strong relationships outside of your home country.
• Interpersonal influence. This is the skill of encouraging others to get on board with your ideas because they understand their value.
• Resilience. Working across time zones and cultures involves long hours and unique challenges, which requires mental toughness.

These soft skills can be a true advantage in the global business world.

What Job Titles Can You Have in Global Business?

Knowledge of global business isn’t limited to any one field. With fluency in global issues, you can open up job opportunities in a number of countries to your expertise, and you can do business around the world.

“Although many global positions are skill specific (think accounting or project management), many jobs today rely on emotional intelligence, cultural awareness, and social skills that global citizens build,” says DeLotell. “In today’s business environment, you will interact with other individuals who come from different communities or cultural backgrounds, so all of these skills are going to help you even if you never work in an international or overseas operation.”

What Do You Study in an International Business Degree Plan?

Global business degrees typically focus on competencies, both practical and research-based, to understand the impact of differences in cultural, economic, legal, and political systems.

At Purdue Global, both the online MBA with a concentration in global business and the online Master of Science in Management and Leadership with a concentration in global business offer an opportunity to develop these international business competencies.

Purdue Global’s degree programs focus on the following key areas:

• How to recognize, respect, and strategize with major areas of difference. These differences can be cultural, political, or legal.
• How to understand the strategy of multinational organizations. Learn how organizational design supports the firm's strategic decisions related to primary business functions operating across national borders.
• How to develop entry strategies to successfully move into a foreign market. Consider how an organization can leverage resources, capabilities, and preferential entry modes to create competitive advantages when entering a foreign market.

“Anyone who is working in a diverse environment would benefit from exposure to global business skills,” says DeLotell.

How Purdue Global Can Give You a Global Business Edge

Purdue Global's graduate-level programs in global business are available as concentrations within our online MBA and master’s in management and leadership degree programs and as a graduate micro-credential. All of these degree concentrations and courses offer you a chance to position yourself for a global future. Reach out today to learn more about programs at Purdue Global.