Global business is basically the sale of products and services that cross boundaries. However, it’s more than that: Today’s leaders must understand the various aspects of the global marketplace, including the local political and cultural environments. These issues have a direct impact on strategic decisions like sourcing products or outsourcing services and creating marketing campaigns that target different markets across the globe.
In addition to getting an understanding of the various factors which influence an effective management strategy, studying global business teaches you the necessary skills to work effectively with people from different cultures and to communicate across distances. Employers see this as an invaluable set of competencies.
Global Business Resources
Print and online publications offer updates, analysis and other information about global business. Certain publications focus on specific industries, while others are regional or country-focused.
One way to broaden your knowledge of global business is by hearing real-life stories from business leaders about their personal experiences in the global marketplace. Their experiences, whether they’ve had success or not, will add an authentic touch to the concepts and frameworks that you’ll be learning in class. They can also help you think about the difficulties of working in an environment that official statement is constantly changing.