International Business Education in a Global Environment: a Conceptual Approach

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International Business Education in a Global
Environment: A Conceptual Approach
Summary

The article tries to explain the importance of understanding business practices in different parts of the world and the importance of international business education provided to business students and teachers alike. In today’s globalized economy one cannot afford to be culturally & socially naive of the opposite party or country it’s working with, the article tries to inform about the factors one needs to consider when working with a foreign business. For this purpose the SPELT analysis is used which abbreviates to Social, Political, Economic, Legal & Technological. When going in to a deal with a foreign company or trying to setup a business outside one’s own country these factors must be considered ,but the implementation of these factors are easier said than done, special training and programs must be developed to facilitate business students and faculty so they can both learn and apply the knowledge they have gained in reality, for this to achieved firstly the course facilitators must have practical experience and knowledge of working with a MNC and working abroad rather than bookish knowledge, they should have a vast experience they have acquired over their career so that the students can have a glimpse of what they will be experiencing once they are done with their studies, secondly there must be student exchange programs for students so that they can study abroad and get a sense of how things are different from home and the curriculum taught to them must be relevant to business practices around the world. The process of bringing the curriculum up to date is a tough one but the regulators and people in charge must show commitment and must be sincere towards the task in recognizing the need and importance of such a syllabus, secondly people must choose the issues they want to raise or improve upon, it could be specific according to the needs of the students...
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