Why Study International Business?

Topics: 21st century, Economics, United States Pages: 1 (288 words) Published: June 24, 2013
We the people of the 21st Century live in a world in which the international boundaries which existed before are in the process of becoming a nullity. The few boundaries that do exist are merely superficial and restricted to sensitive national issues. But, the economic walls between countries have been collapsing since the industrial revolution. This phenomenon is due to the paradigm shift in National policies of many countries from being conservative to being radical. There has been such a proliferation of communication that it would not be exaggeration to say that the whole globe is just one nation in terms of economy. But the main catalyst for this process is the ultra progressive advancement of technology in the last 2 centuries, particularly in the last 5 decades. The lightning speed pitch perfect efficiency and wide reach of electronic communication allows instantaneous information transfer for sales, marketing, manufacturing and outsourcing growing distribution networks, supply chains, and transportation hubs simplify the movement of products. The broad networks of worldwide financial institutions reduce currency issues. This is why people living in India can work for companies in the United States with a simple workstation and a good phone network. Business is no longer a plant that can stay rooted to a spot and be alive, but a virus that has to spread to live. It can be safely assumed that a business involving import and export is tons more profitable than an intra nation business. This gargantuan reach of business in has to be managed by an adequate workforce, both in terms of quality and quantity. Thus, international business as a subject of study, will lay a strong foundation of professional workforce on which successes are built to last.
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