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Global business is a term used to describe both international trade and the act of a company doing business in more than one area (i.e. country) of the world. Some examples of well-known global businesses include Google, Apple, and eBay. All of these companies were founded in America, but have since expanded to other areas of the world.
In academics, global business encompasses the study of international business. Students learn how to think about business in a global context, meaning that they learn about everything from different cultures to the management of multinational businesses and expansion into international territory.
Reasons to Study Global Business
There are lots of different reasons to study global business, but there is one primary reason that stands out among all of the others: business has become globalized. Economies and marketplaces around the world are interconnected and more interdependent than ever before. Thanks, in part, to the internet, the transfer of capital, goods, and services knows almost no boundaries. Even the smallest companies are shipping goods from one country to another. This level of integration requires professionals who are knowledgeable about multiple cultures and able to apply this knowledge to selling products and promoting services around the world.
Ways to Study Global Business
The most obvious way to study global business is through a global business education program at a college, university, or business school. There are a number of academic institutions that offer programs focused specifically on global leadership and international business and management.
It is also becoming more common for degree programs to offer global business experiences as part of the curriculum -- even for students who are majoring in something like accounting or marketing rather than international business. These experiences may be known as global business, experiential, or study abroad experiences. For example, University of Virginia's Darden School of Business provides MBA students with the opportunity to take a 1 to 2 week themed course that combines structured classes with visits to government agencies, businesses, and cultural sites.
International internships or training programs can also provide a unique way to immerse yourself in global business. The Anheuser-Busch company, for example, offers a 10-month Global Management Trainee Program that is designed to immerse bachelor degree holders in global business and allow them to learn from the inside out.
Top-Notch Global Business Programs
There are literally hundreds of business schools that offer global business programs. If you are studying at the graduate level, and you're interested in attending a top-tier program, you may want to start your search for the perfect school with this list of high-ranking programs with global experiences:
- Stanford Graduate School of Business - At Stanford, every MBA student is required to participate in global experiences to increase their knowledge of international business and management. While participating in the school's Global Management Immersion Experience (GMIX), students live and work in another country and learn about global business through complete immersion.
- Harvard Business School - Harvard curriculum combines the case method with the field method. Part of the field method involves global intelligence, which requires students to gain real-world experience by developing a new product or service for one of Harvard's global partner organizations.
- Kellogg School of Management at Northwest University - Kellogg's global MBA curriculum requires students to partner with other international students to gain an understanding of international markets and develop market-based growth strategies for international organizations.