Conducting business across international boundaries has transformed commerce and the ongoing impact of globalization requires that professionals bring a global perspective to their careers. For instance, small businesses and startups in saturated domestic markets look overseas to boost sales and access less expensive labor and resources.
On the other hand, established multinationals are revamping complex logistics and supply chains to gain efficiencies, manage risk and raise brand awareness to improve their bottom lines. In both cases, challenges to successful foreign sales and marketing include adapting to cultural diversity, complying with regulatory requirements that vary by country, and adopting technological innovation. Therefore, companies manage those impacts by seeking employees with expertise in managing supply chains, identifying emerging overseas opportunities and managing processes in an increasingly interconnected global business environment.
How Do Employees Gain Essential Skills for Global Business Professionals?
Students can future-proof their careers by acquiring technical business skills and expertise in global economic principles, financial accounting, human resources, production and marketing management. The online Bachelor of Arts (B.A.) in International Business program offered by Avila University prepares graduates for roles in international commerce through a curriculum that includes the following courses:
- International Economics: Students explore the complexity of interconnected production, distribution and consumption of goods and services. They also examine trade policies and theories and other international economics concepts.
- International Finance: This course focuses on topics such as foreign exchange risk, currency derivatives, financing, exchange rate forecasting and opportunities and challenges presented by financial markets.
- International Management: Students examine best practices for managing in an international context. The course helps students gain insights into real-world analysis and management of all business operations.
Avila University’s online B.A. in International Business program emphasizes developing data skills with a curriculum that includes studies in business statistics, applied analytics and research-based industry analysis. The program positions graduates for success in a global environment that, according to McKinsey & Company, is rapidly changing. “Flows representing knowledge and know-how, such as [intellectual property] and data, and flows of services … have accelerated and are now growing faster than the flow of goods” in international markets, McKinsey & Company reports.
Case Study: How Did a Data-services Startup Seize Opportunities in International Business?
A Forbes profile of Kpler, a data and analytics provider, provides an ideal example of how digital information transmission and analytics services are leading international business growth. The company launched in the Paris market. It used an innovative, multinational strategy contrary to the typical concept of growing the home market before expanding overseas.
There are various ways a company can expand into markets beyond its borders. “Each country you expand into is like creating a new startup,” Kpler co-founder Francois Cazor notes. Then, each requires the development of leaders with expertise in local economic and financing considerations and regulatory compliance challenges.
The Kpler model also focused on dispersing its business professionals to its overseas locations. Rather than staffing up and resourcing its Paris home offices — the “mothership” — it distributed its leadership to foreign locations. That enabled the company to project a consistent brand presence around the world. It also facilitated the switch from onsite to remote work within 48 hours of local COVID-19 restrictions being enacted.
Having bootstrapped its global financing rather than seeking venture capital to support its expansion, Kpler is a recognized world leader of today in data services to global brands in physical, financial, power and logistics markets. In Avila University’s online B.A. in International Business program, students develop the knowledge and skills to help their organizations thrive in a global business environment as Kpler did.
Learn more about Avila University’s online Bachelor of Arts in International Business program.
