Business management offers many types of professions: Management, Marketing, Finance, Economics and International Business.
The major of Management fosters all-round experts who have a wide range of knowledge, including planning, organizing, guidance and control, as well as decision-making in the aspects of operations and activities related to a business organization.
The major of Marketing emphasizes on the management and grouping of marketing functions, such as identifying market opportunities, products’ development, promotion, pricing and wholesaling.
The major of Economics and Finance stresses on the theoretical basis of finance and investments, and the solutions to the various problems in the field of economic technology.
The major of International Business attaches emphasis on the application of management functions in a global context.
Today’s International Business includes international trade and finance which have already penetrated into every corner of the world. It is the carrier of the world economy integration which is advancing in an unstoppable fashion. In a manner of speaking, most of the households in North America have the experience of using products exported by China, and the Chinese people too are already familiar with the names of Boeing, Coca Cola, McDonald, Kentucky etc.
International business and trade have become a major form of international exchanges.
International Business Management mainly consists of several following aspects:
The first is the Strategic Management in International Business. Its consideration is on how a general manager is going to formulate and execute the corporate strategy and to establish an organization to implement this strategy. It involves: 1. inspecting the diversification of international business activities; 2. analyzing relevant competitors in international environment; 3. the non-market problems in international operations; 4. selection strategy of access to foreign markets; 5. relationship of international suppliers and 6.international functional strategies and the organizational changes in international and global operations.
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The second is the competitive strategies of multinational corporations. Corporations participating in international competitions are the results of domestic environment; but they are also an important force in the national relative advantage development. As such, not only the deciding factors of the national relative advantage and the development of the competitive strength of corporations should be taken into consideration, there are other aspects need to be considered too; for example, the critical factors for formulating and improving the strategy of multinational corporations, including many forms of overseas business development such as merger, acquisition, solo-venture, joint- venture or overseas listing.
The third is sales and marketing on the international markets. In view of the expansion of international markets and the growing globalized business scale, corporations are required to pay more attention on the management of international marketing, including product and trademark management, pricing, promotions and advertisings, not forgetting distributions, market investigations and the marketing organization for the international markets. At the same time, strategic considerations should also be given to market access and positioning, analysis of global competitors and strategic alliances.