What are the skills that matter in international business?

Brought to you by the Villanova School of Business

Today’s business world is more connected than ever before, thanks to developments in e-commerce, manufacturing and logistics. Organizations face competition and build partnerships on an international scale. To make the most of opportunities, these companies need leaders with the expertise to thrive in a global economy.

Becoming one of those leaders calls for advanced training in the latest strategic approaches for international business. Understanding how to take a broad perspective on industry challenges, work with a diverse team and harness technological tools can build a successful career. An online MBA program can be a major step toward that career, providing chances to learn the skills that help organizations meet their goals and grow.

Develop international business insights

To take on problems with a global orientation, leaders must have a firm grounding in relevant best practices and strategy. Students in MBA programs have the chance to explore current thinking on how to make wise deals with partners around the world and overcome the obstacles along the way.

For instance, studying the principles of global political economy provides an awareness of how economics and politics are interconnected, driving smarter decision-making. By learning global accounting standards, students discover how to conduct transactions across national borders with transparency and accountability. Exploring these fields readies professionals to seek out exciting opportunities.

Master business technology

Technological advances have been at the heart of the changes in how companies operate over recent years. Professionals who know how to put sophisticated tools to work have advantages in both progressing their careers and planning for their companies’ long-term expansion. The right deployment of information technology can give a business a leg up in global industry, enabling efficient processes and agile shifts.

Data-driven organizations are becoming increasingly common worldwide, with analytics regularly informing the moves made by international corporations. To lead the way in this landscape, professionals need a strong familiarity with the infrastructure, software and techniques that yield actionable business intelligence. By turning quantitative findings into operational improvements and initiatives for growth, professionals can guide their companies to success in a larger marketplace.

Cooperate across cultural norms

Collaborating with others and delegating tasks effectively are essential to achievement at any organization. However, this cooperation is especially important when transcending borders and carrying on business at the international level. Professionals must have an array of soft skillsto keep a global team on track to meet its shared objectives.

Cultural differences can affect everything from the expectations around deadlines to how people explain their ideas in meetings. US business culture tends to value individual achievement and expression, while in some other cultures people are more interested in the collective effort. Being aware of the hierarchy within an office is also important, especially in cultures where it is considered inappropriate to question the decisions of a superior.

Harvard Business Review emphasized that even leaders who understand these issues can encounter problems when teaming up with workers from other countries. They have to take the next step by adapting their management approach to their circumstances.

Gain real-world experience

The best way to build the skills necessary for a career in global business is by actually contributing to an international project. Working on real-world problems gives professionals the chance to overcome unfamiliarity and realize the tremendous scope of opportunities. They develop valuable networks while finding the best ways to apply the techniques and tools they have learned.

That’s why Villanova University’s online MBA courses focus on employing up-to-date strategies to overcome the genuine challenges currently facing organizations. Students come together to apply strategic thinking and robust big-data methods, finding the path to success. As an optional capstone, they can even take part in a seven-day international immersion, working on the ground in an emerging economy. Students pay visits to local companies, take part in ongoing projects and see the business culture first-hand.

Seizing this opportunity for cross-cultural exchange and positive social engagement is one way for graduates to ready themselves for a future in the global marketplace. To find out more about what Villanova University has to offer and learn how you can apply, visit the program page.

    Recommended Readings:     Sources:  

https://hbr.org/2012/01/three-skills-every-21st-century-manager-needs

https://www.forbes.com/sites/85broads/2011/07/01/international-business-strategy-a-journey-of-its-own/#3d4b95a9777d

http://www.businessinsider.com/7-skills-you-must-master-if-you-want-to-be-a-global-business-leader-2016-3

http://www.businessnewsdaily.com/6464-skills-to-work-overseas.html