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International Business Major/Minor
Due to great strides in communications and transportation, the world is becoming a much smaller place and more homogeneous. This has led to a global business environment where even the smallest companies must pursue opportunities beyond their country's borders to survive. Established markets like North America or Western Europe have become more efficient and emerging markets like the BRICS nations (Brazil, Russia, India, China and South Africa) have been able to prosper. In many instances, competition on the battle field is being replaced by trade leading to more stable international relations.
The International Business Major prepares students for positions as managers and entrepreneurs in the global economy. Program graduates may work as directors in an international subsidiary of a major multinational corporation or as overseas sales representatives or product managers. Those with backgrounds in finance may find work as loans officers for the Export Development Corporation (EDC) or as financial analysts with the global investing unit of a major financial institution.
International business professionals must develop a life-long commitment to learning about the world, its peoples, and their cultures. Not only does this knowledge help them do a better job, it also shows their respect for the many different participants in the new economy. Respect leads to friendship, which in turn leads to prosperous, long-term business relationships.
After graduation, it is expected that a significant number of students will pursue the Certified International Trade Professional (CITP) designation indicating their commitment to the new profession of international trade. After gaining valuable work experience, students will also be well prepared to enter one of the many graduate programs in international business and possibly go on to a career in teaching and research at the college or university level.
For those students wanting only an exposure to international business, an International Business Minor is also available.
Learning objectives
- Demonstrate professional selling practices that maximize company profitability through strong customer service and retention.
- Develop a market research plan to analyze the business environment and consumer and business-to-business behaviour using appropriate primary and secondary data sources.
- Adapt financial principles to international business operations including import/export and multinational activities.
- Explain the macroeconomic aspects of globalization including gains from trade, protectionism, capital movements, exchanges rates, international monetary system and economic development.
- Design marketing plans for developed and emerging markets that reflect their unique cultures, management styles, business practices and operating environments.
- Administer people effectively in an international environment realizing how differences in culture, interpersonal behaviour and management practices influence the actions taken.
- Construct a comprehensive business plan for a new international venture or product.
- Manage the different aspects of an international firm from a strategic perspective recognizing the environmental, cross-cultural and managerial differences between countries and regions.
- Apply international business principles in a professional capacity.
Major requirements
The requirements for this program have been revised and are effective beginning in September 2016. Students admitted prior to September 2016 have the option of remaining in their original program or completing the revised program outlined below. Students should contact an academic advisor if they are uncertain of their course selection.
| IBUS 3530 | International Trade Finance |
| MKTG 4470 | International Marketing |
| IBUS 4510 | Cross-Cultural Management |
| IBUS 4540 | Global Entrepreneurship |
| IBUS 4560 | Doing Business in Emerging Markets |
| IBUS 4570 | Global Management |
| At least two of: | |
| ECON 3550 | International Economics |
| MKTG 3450 | Professional Selling |
| MKTG 3480 | Market Research |
| IBUS 45901 | International Field Study |
1. Students who complete a Study Abroad semester may substitute another business elective for IBUS 4590.
Minor requirements
The requirements for this program have been revised and are effective beginning in September 2016. Students admitted prior to September 2016 have the option of remaining in their original program or completing the revised program outlined below. Students should contact an academic advisor if they are uncertain of their course selection.
| IBUS 3530 | International Trade Finance |
| IBUS 4510 | Cross-Cultural Management |
| IBUS 4570 | Global Management |
| At least one of: | |
| MKTG 4470 | International Marketing |
| IBUS 4540 | Global Entrepreneurship |
| IBUS 4560 | Doing Business in Emerging Markets |
