What is the study of international business?
In today’s globalised world, a sizeable proportion of business dealings occur internationally, or between corporations in more than one country. The advent of international business has led to increased access to unique and diverse products from all over the world.
The field of international business incorporates the advent, facilitation and negotiation of the exchange of goods and services between organisations in different nations. It is directly linked to the field of international trade; however, each sector tends to have a slightly different focus.
A significant portion of international business involves ensuring clear communication between parties from different backgrounds and locations. This is the first step in negotiating business deals. Technology plays a key role here, as it enables organisations to communicate electronically over long distances and can also be used to ensure each party understands each other.
International business also involves complex negotiations, often between multiple parties.
Producers, suppliers, stockists and transport companies are all involved in the global supply chain for international goods. Effective international business negotiators ensure that all parties are benefiting proportionally from their contributions and are playing their part in the exchange of goods across continents.
However, not all international business involves the trade of tangible goods. The international finance market is the powerhouse behind the economic success of a number of countries. International business has a role to play in facilitating deals that may involve the merger or acquisition of one company by another, which can then have a flow-on effect on economies around the world.
All international operations of multinational corporations can fall under the sphere of international business. Specialists can be involved in spearheading marketing campaigns to new markets, managing employees within a new global location, seeking out new business opportunities and much more.
The global share market is also home to many international business people. Investment portfolios rely on the buying and selling of shares around the world, not just in domestic markets. Many in the international business sphere frequently operate on different time zones, trading instantly and electronically across borders.
Governments also have a role to play in international business. As the overseers of trade and employment within a nation, they are deeply interested in the outcomes of international business. Government officials are particularly involved in the policy aspects of international business, as well as some aspects of trade and employment, particularly around the provision of laws, sanctions and limits.
What does an international business specialist do?
International business is a broad sphere, meaning there are a diverse range of opportunities for you to succeed. Depending on your area of passion, you could find yourself working within any department of a multinational corporation or drawing on your skills and knowledge to set up your own entrepreneurial venture.
Multinational corporations are constantly seeking innovative and driven business people to lead new ventures. You may find yourself working within the heart of consumer strategy for a large organisation. Your creative solutions to emerging problems will be highly valued as you chase maximum efficiency and profits.
International marketing is an area in which international business specialists have the opportunity to stretch their creative muscles. Here, your core focus will be on delivering value to your clients or company. You will develop an understanding of data analysis on a global scale, and be across the nuances of global brand management.
Some international business specialists find themselves working in business and trade policy. You will have developed an in-depth understanding of the economic circumstances, cultural backgrounds and trade policies of multiple trading partners. International business policy experts use this knowledge, and their analysis of current global situations, to devise and revise policies to best suit the needs of a nation. You may be involved in drafting free trade agreements with neighbouring nations or proposing sanctions in times of global challenge.
Wherever you turn your focus, international business offers an exciting range of opportunities on every continent. Your communication skills, creativity and keen sense of adventure will empower you to succeed in this exciting field.
What jobs are there for International Business specialists?
As globalisation plays an increasingly important role in economics and trade, the field of international business is only set to grow. Those adept at cross-cultural communication, data analysis and creative problem-solving are likely to be in demand.
JCU Bachelor of Business graduates flourish in roles working for multinational corporations, governmental departments and non-government organisations. They draw on their foundational knowledge and broad skillset to succeed in diverse areas.
As befitting the role, there are numerous opportunities for an International Business specialisation to take you overseas. You might explore opportunities within internationally focused organisations and corporations with interests across continents. Or, you may choose to contribute to the international business world from within Australia, supporting enterprises as they engage with global markets.
With a Bachelor of Business, majoring in International Business, from JCU, you may find success in roles including:
- International business executive
- Merger and acquisitions executive
- Business negotiator
- Finance director
- International marketing manager
- Investment portfolio manager
- Policy advisor
- Human resource manager
- International finance executive.
Why study International Business at JCU?
To succeed in the competitive field of International Business, you will need a strong knowledge base and advanced analytical, communication and negotiation skills. JCU provides you with a detailed and hands-on major that empowers you to engage with real-world case studies and scenarios, meaning you develop the relevant skills sooner.
Our world-class lecturers provide expert tuition that is enhanced by their own professional experience in the field. When combined with small class sizes, you’ll benefit from personalised support in your learning and one-on-one contact with lecturers and tutors.
JCU provides multiple avenues for you to develop practical experience. International business students can choose to study a semester at the JCU Singapore campus or undertake an exchange with one of our partner universities, located in more than 20 countries across Europe, Asia and the Americas.
The JCU Work Integrated Learning program offers options for you to gain experience in domestic markets as well. Combine study and work to understand how your theoretical knowledge can be applied to your chosen industry. Connect with JCU’s industry partners to build a strong network before you graduate.
Flexibility is key to business success, and JCU ensures that this is built into your course options. Study at our JCU campuses in Singapore and Brisbane, or study externally to balance university around your busy lifestyle. Upskill in the manner that best suits you and begin reaping the benefits today.