How an Online Degree Can Help Your Career in International Business

What Is International Business?

Put simply, international business is business that takes place between two or more nations, either for profit, such as private companies selling products in other countries, or for political reasons, such as governmental representation through the diplomatic corps. In today's global economy, most large corporations are involved in international business to some extent, whether through operating in several countries worldwide as multinational corporations or international business corporations do, or by engaging in some form of trade with businesses or markets in other countries.

And the good news is that U.S multinational companies strengthen the domestic economy.

Career Opportunities in International Business

International business is on the increase due to fewer barriers to international business, improved relationships between major economic powers, availability of services that enable international business, improvements in communications and transportation, and the growing importance of emerging markets such as India, China and countries in South America and Eastern Europe.

It follows that international business career opportunities are more numerous and more diverse than ever before. Business executives and marketing, manufacturing and finance managers need to be well educated in international business to make the most of these growing opportunities.

International business has the same kind of roles as domestic business, including finance, marketing, management, purchasing, consultancy and law. It also has additional career options such as foreign investment executive, imports/exports executive, foreign currency trader, interpreter, translator, and international salesman or woman.

Do I Need a Degree to Work in International Business?

A degree in international business is not necessary to begin a career in international business, but an international business element to your education can make a big difference to your employment and earning potential. A four year business-related degree, gained either as an online degree or on campus, plus fluency in a foreign language and experience of working or traveling abroad, can give you a strong competitive advantage in the job market.

Online degree programs allow you to improve your credentials and build upon your experience without taking time out of your career. Many business degree programs include international business, and many bachelor's degree programs in international business are available either as college-based or online degrees. Higher level management positions in international business generally require an MBA or master's degree.

Successful international business executives have other qualities besides their education. They understand and respect the culture, customs, beliefs, and attitudes of other countries. This not only avoids causing offence, but an understanding of your market is crucial to business success. Managing employees in other countries also requires an understanding of their culture and motivations.

There are many other challenges that face international business executives. For example, the regulatory environment may be very different in other countries and the level of government involvement may be far greater than in the U.S. Successful international business executives are flexible problem solvers with a broad range of business skills.

Is International Business Right for You?

Working in international business can mean:

• Working in the U.S. for a company that does business abroad, which may involve some business travel
• Working as an expatriate in another country for a company that operates internationally

Before signing up for a job in the world of international business, it is important to consider the impact on your family and lifestyle if you, and possibly your family too, have to travel or move locations regularly. If you have the right skills and personal qualities to make it in international business, you can expect to enjoy a varied and rewarding career that really broadens your horizon.