The Benefits of Earning Your MBA Degree in International Business
International Business Master’s Degree
The term “global marketplace” in the international business world is so common these days, it’s basically a cliché. And yet, the reason for this is simple: it’s true. As the economic success of individual countries and international businesses becomes more and more reliant on the health of the global economy, it is absolutely imperative that tomorrow’s business leaders understand the ins and outs, challenges of, and solutions to working within this international economic model.
So what are some of the benefits of earning your MBA degree in International Business? First, while earning your Master’s degree in International Business you gain unparalleled knowledge of the fundamentals of corporate finance and financial theory. With these principles serving as your foundation, you are better equipped to deal with topics such as approaching risk, investment decisions, capital structures, dividend policy, short-term financial management, and financial forecasting. Though these core principles are essential for all business leaders, they take on particular emphasis when being applied to an international business. This is due to the increased emphasis on non-native markets, where many more variables come into play. When you must make a long-term decision based on a developing international market such as the Middle East, it’s important to be as sound as possible when it comes to the fundamentals.
The second benefit of earning your MBA degree in International Business is a deeper understanding of international economics as a whole. Through an International Business Master’s degree program students will learn that myriad rules, regulations and business considerations domestically are nothing compared to what international business leaders must deal with. Fully developed knowledge of international business and economics through an accredited International Business MBA program with knowledge of determinants of trade between nations, comparative advantage, national trade and competitiveness polices, and exchange rates is a huge asset for anyone looking to climb the corporate business ladder. It is through these economic sectors that most, if not all, international business decisions are made.
Lastly, a major benefit of earning your Master’s degree in International Business is to understand key international institutions. The International Monetary Fun and the World Trade Organization are two of the largest institutions when it comes to international policy and development. Quite simply, without the type of deep understanding of these organizations, that an MBA International Business provides, you cannot successfully conduct business internationally. Other regional economic institutions, such as the European Union, and North American Free Trade Association are just as important when it comes to regional economic matters pertaining to business. Through earning your MBA degree in international business you can gain an understanding of these policy-shaping institutions which is vital when it comes to building a successful business internationally, and keeping it running smooth.
Attaining success internationally doesn’t just rely on a firm grasp of international business and economic systems or organizations; it also relies on properly marketing your company. What works in business in America may not work internationally in Italy, or China, or Brazil. Earning your MBA degree in International Business can provide you with the knowledge to become a well-versed decision-maker in marketing areas such as product adaptation, modes of entry, and business ethics. Learning to plan and organize for international business and global marketing will help you introduce your product into a region in a much smoother way, maximize your positioning within said region, targeting your customer base, as well as help develop product, pricing and distribution strategies. Those with the type of firm grasp of international business and marketing that an MBA degree provides will be well positioned to succeed.
As our world continues to become more interconnected, and opportunities are found in markets just waiting to be developed, success will be earned through a strong understanding of everything from tariffs and international currency rates, to World Trade and Federal Reserve policies. Unless your goal is to develop and run a company that deals solely within the U.S., with no international factors, earning an MBA degree in International Business is your ticket to sustained success.
Written by Laura Zurowski