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 knowledge of global cultures as one of its eight key career competencies. 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 & Inclusion section, the NACE competency statement lists these activities as some of those indicative of career readiness:
- Demonstrate flexibility by adapting to diverse environments.
- Keep an open mind to diverse ideas and new ways of thinking.
- Seek cross-cultural experiences and interactions globally that enhance one’s understanding of people from different demographic groups and lead to personal growth.
- Solicit and use feedback from multiple cultural perspectives to make inclusive and equity-minded 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. 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.
Purdue Global’s degree programs focus on the following three 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. 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 Does Studying Abroad Help You in Your Global Business Degree?
International internships, training programs, or studying abroad can also provide a helpful way to immerse yourself in global business.
At Purdue Global, both the online MBA with a specialization in global business and the online MS in Management and Leadership with a specialization in global business offer an option to learn abroad, in person or virtually, by working with organizations and scholars outside of the U.S.
“There’s a difference between looking at the theories surrounding global business and discussing those theories versus actually immersing yourself in a culture and visiting a business where those differences are in place,” says DeLotell. “Many of our students never had the chance to study abroad with such a concentrated focus, and Purdue Global makes that possible. There is also an option for a virtual education abroad experience at Purdue Global for students who cannot leave the United States for this type of immersive environment.”
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. A global business elective course, Building Global Competence, is available to all Purdue Global graduate students.
All of these degree concentrations and courses offer you a chance to position yourself for a global future. Purdue Global’s first-ever educational travel abroad experience is also being offered with the master’s programs, both virtually and in person.
Reach out today to learn more about programs at Purdue Global.
About the Author
Purdue Global
Earn a degree you're proud of and employers respect at Purdue Global, Purdue's online university for working adults. Accredited and online, Purdue Global gives you the flexibility and support you need to come back and move your career forward. Choose from 175+ programs, all backed by the power of Purdue.
