Tomorrow is created here.

Google Search


 

International Business

 

The last several decades have seen an explosion in globalization. This has occurred in many dimensions, from international trade, capital movements to labour mobility. Increasingly, businesses of all sizes are required to do business internationally to stay competitive, and this international exposure will impact every functional area within management. Most university graduates will pursue careers in businesses and organizations that do business internationally, and regardless of any given career path, this international dimension of their business will impact the way things are done.

International Business is the study of business activity that spans international borders. The study of international business enhances the ability of students to consider business opportunities within a global context, and how best to pursue those opportunities. These strategies include exporting to foreign markets, setting up local production facilities abroad, either from scratch (Greenfield Investments) or buying up an existing one (Acquisitions), expanding existing facilities (Brownfield Investments), or pursuing a merger or alliance with another firm. Each of these alternative strategies poses unique management challenges.

What is important for students to understand, however, is that doing business internationally will require changes in business strategy, accounting approaches, financial risk management, marketing, human resource management, ethics, legal compliance and many other dimensions of business. That is, doing business in the global economy is complicated and requires a different perspective than that which focuses exclusively on a domestic business setting.

^ Top



Why Study International Business?

 

The study of International Business is therefore important both directly and indirectly for students. Students who wish to pursue a career in the international dimension of finance, tax, marketing, human resource management, or other areas within management, will find it is obvious that the study of international business is necessary to succeed. But even for those who are focused on any particular field such as accounting or finance, the knowledge and perspective that comes from the study of international business will allow that individual to have a holistic view of the organization—given, of course, that the organization operates in the global economy. Since it is difficult to find any sizable business in Canada that is not international, directly or indirectly on either the input and/or outside side, the study of International Business brings an important and valuable perspective to business that will be useful to all management graduates.

 

^ Top


International Business Courses at U of T Scarborough

 

 

Careers in International Business

 

The opportunities for those trained in international business generally, as well as international dimensions of any given functional area such as strategy, accounting, finance, and marketing, have increased dramatically over the past few decades. This trend is likely to continue for some time with the emergence of many economies onto the global stage, such as China and India and Canada’s increasing integration with those economies. Those that have this broad perspective on business will be well positioned to pursue careers in the world’s leading corporations and organizations. 

As the economy, and hence business, becomes increasingly integrated into the global economy, then the way that government regulates the economy must change. As such, increasingly, government agencies are recruiting students who have studied international business and understand how business operates within the global economy. Only with this perspective can optimal government policies be crafted and implemented. 

Canada has a relative strength given its cultural diversity and access to communities tied into many economies throughout the world. Our future depends in large part on our ability to successfully leverage this and other strengths to create internationally competitive knowledge-based industries. Acquiring the appropriate education will help students launch successful careers and at the same time allow Canada to succeed.

 

Graduate Study in International Business

 

There has been a surge in graduate program enrolments in International Business, International Economics and the study of government (International Relations).  This growth is in response to the surge in globalization and the increased global linkages at all levels in our society. The increased linkages have generated a huge demand for skills and knowledge that will allow firms and organizations to succeed in this new reality called the global economy.

Some students may find themselves drawn to other professional designations or second entry programs coupled with an international emphasis—for example, international accounting, whether through a CPA or a specialization in transfer pricing or other international taxation issues. Other examples include studying law, coupled with an international or management specialization.

 

^ Top