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international business restrictions

Importance of studying international business[edit]

The international business standards focus on the following:

  • raising awareness of the inter-relatedness of one country’s political policies and economic practices on another;
  • learning to improve international business relations through appropriate communication strategies;
  • understanding the global business environment—that is, the interconnections of cultural, political, legal, economic, and ethical systems;
  • exploring basic concepts underlying international financemanagementmarketing, and trade relations; and
  • identifying forms of business ownership and international business opportunities.

By focusing on these, students will gain a better understanding of Political economy. These are tools that would help future business people bridge the economic and political gap between countries.

There is an increasing amount of demand for business people with an education in international business. A survey conducted by Thomas Patrick from University of Notre Dameconcluded that bachelor’s degree and master’s degree holders felt that the training received through education were very practical in the working environment. Increasingly, companies are sourcing their human resource requirement globally. For example, at Sony Corporation, only fifty percent of its employees are Japanese.[23] Business people with an education in international business also had a significantly higher chance of being sent abroad to work under the international operations of a firm.

The following table provides descriptions of higher education in international business and its benefits.