Importance of Business Management in 21st Century———-

Of the current importance in this 21st century is the development of the multinational enterprises and the impact of foreign direct investment, which is acting as a vehicle for the increased globalisation of business activity.

Foreign direct investment has become the fastest increasing productive unit in the developed countries such as UAE, USA, Japan, Taiwan, UK.  None of these multinationals are confined to solely Japanese manufacturing companies, as the impact of new global technology and information systems is leading to a wider range of opportunities. Indeed, Numura securities in the Finance section, as well as the French car company, Peugeot, provide an example of the diverse range of Multinational Business activities in the UK alone.

Hence considering the above information why should one be interested in studying International Business Management?

The study of International Business offers the possibility of studying and completing a work placement in another country it includes the development of skills as students learn to think in the business context of another trading nation. There is much to be learnt from how business is carried out across a wide range of newly emerging markets, as well as gaining an understanding of various business practices in the more affluent nations, including European countries, Japan and the US. A wide range of international options are available for study for students, including Global Environment Management, International Marketing and Global Information Technology.

Students could also gain many other benefits arising from the study of an International Business degree, besides increased job prospects. Some of these stem from the opportunity to work on projects in cross cultural groups, learning new techniques arising from working with people with a wider range of business cultures. In terms of curriculum units, the International Business Management studies offer the opportunities for students to gain fluency in another language such as Arabic, Chinese, Japanese, French, German, Spanish or Italian. Particular emphasis is placed on the acquisition of a foreign language in the business context, and some institutions offer the opportunity to study two languages.

Some universities are pioneering the development of study periods abroad taught in English, as well as providing opportunities to study in a foreign language. This is an extremely useful development for those who wish to achieve an understanding of how business is carried out across other countries, but have a limited knowledge of languages. These can also be taken up at various stages of the degree programme, providing continuous access to the development of linguistic skills. The International Business degree course can then be completed in either 3 or 4 years, depending on whether students decide to take up the Industrial Placement year. These initiatives are increasingly being developed as new and exciting opportunities arise from the opening up of trade.

Hooria Muhammed Tariq

Born and raised in United Arab Emirates

Passionate about Business Management and Marketing!

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