Many individuals and business owners dream of traveling around the world and connecting with new clients on a global scale. The field of international business is ideal for these individuals. International business refers to any kind of work conducted on a global level, such as trade, investment, finance, and marketing. Activities of companies like Amazon, Apple, and McDonald's extend beyond their national borders and are considered international business. They interact with various other cultures, markets, and regulatory environments. Further in this article, informative and interesting content is mentioned for those who ask what international business is.
What is the field of International Business?
In the field of international business, a complete understanding of principles such as trade regulations, cross-cultural communication, and global market trends is very significant. Studying in this field helps students become familiar with the complexities of the international business world and gain knowledge about business operations. Of course, students' learning in this field is not limited to these areas and also includes developing adaptability, cultural awareness, enhancing emotional intelligence, and strong communication skills.
All the mentioned aspects are deemed essential for progress on a global level, where engaging with political and regulatory challenges is a given. Additionally, in this field, students engage in learning about diverse cultures, the financial structures of different countries, legal systems, regulations, and varied policies. One of the most important subjects taught in this field is foreign languages. Students must immerse themselves in that culture by studying abroad and learning foreign languages to succeed in the business arena. By studying international business, students can work in various career positions in the future, such as human resource management, market research analyst, economist, and operations manager.
What are the important features of the International Business field?
Now that we know what international business is, it is better to also become familiar with the features that distinguish it from other existing fields in the country. Students in this field must accept the fact that their clientele consists of people with different language and cultural conditions compared to individuals within their own country. This can be viewed both as an opportunity and a threat. We will examine these features further.
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Learning Foreign Languages
We have mentioned this earlier, but due to its high importance, we intend to examine it in more detail. Due to the international relationships they have, students in this field are inevitably required to learn foreign languages. Currently, proficiency in English has enabled people to communicate in most countries in the world. However, based on the personal experience of many professionals in this field, in Arabic-speaking countries, Russia, and some of the countries that separated from the Soviet Union, learning English alone cannot meet people's communication needs. Those working in international business must be proficient in several widely-used foreign languages. Otherwise, they are compelled to hire several skilled and trusted translators. Employing these translators will undoubtedly incur significant expenses for them.
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Getting Help from International Consultants
Although proficiency in different foreign languages enables business owners to interact with others on a basic level, they find the need for international consultants for understanding various cultures. Being aware of different cultural conditions and responding appropriately in accordance with a specific culture is different from merely learning the language of that nation. For instance, when a proverb reaches our ears, we try to translate it literally; however, its true meaning greatly differs from a literal translation. In this scenario, guidance from international consultants is considered beneficial.
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Knowing International Negotiation Etiquettes
Paying attention to different negotiation etiquettes on an international scale, in addition to the two mentioned aspects, largely ensures the success of businesses. They must know that they are dealing with individuals with different cultural conditions. For example:
- Japanese people are very hardworking and adhere to their principles, while also behaving very fairly.
- Germans rely more on machinery and mechanical equipment than other nations, and they involve emotions less in their work-related matters.
- French people, unlike Germans, are more influenced by their emotions.
- The culture and lifestyle principles of Africans are markedly different from Europeans.
- Arabic-speaking countries are very laid-back and are not much in search of trouble.
- The English exhibit a superior attitude and always act as if they are right during negotiations.
- And so on...
Conclusion
International trade refers to working in various fields on a global scale. Students in this field need to have relatively comprehensive and complete information about the languages and cultures of other countries to communicate with individuals accordingly. Additionally, being aware of the personalities of different nations and their differences aids international businesses in advancing along the path to success more swiftly. In this article, we tried to answer the question of what international business is and what its characteristics are.