Run a World Business with a Global Management Degree
Global business is an integral part of today’s corporate environment with managers expected to effectively lead multi-cultural business entities. Earning a global management degree provides aspiring global managers with the skills needed by training them in effective resource allocation, human resource management and global communication skills.
Global management is a good role for people who love to travel or who are excited about the idea of living in a foreign country. Global managers are expected to learn and understand local business regulations and financial standards. You can possibly get a job in global management with a bachelor’s degree, but your best bet is to earn an MBA.
Global managers need a strong background in business and should have an understanding of global business practices, including IFRS (International Financial Reporting Standards) and Multi-GAAP (Multiple Generally Accepted Accounting Principles), as well as local labor regulations. The ability to speak multiple languages is an important asset for global managers.
Global Management Degree Information
Global managers need a strong background in business and should have an understanding of global business practices, including IFRS (International Financial Reporting Standards) and Multi-GAAP (Multiple Generally Accepted Accounting Principles), as well as local labor regulations. The ability to speak multiple languages is an important asset for global managers.
Global managers are needed in all areas of business, including marketing, finance, strategy, logistics and human resources, and demand is high in nearly all industries.
In addition to the skills that would be required in a similar job with only domestic responsibilities, global managers need to have an in-depth understanding of international relations, cultural fluency and a working knowledge of the countries or regions where they are posted.
It’s advantageous for global managers to be multi-lingual and to understand the business practices of the regions where they will be posted. Understanding currency markets and trading is a key skill as well. You should also understand IFRS and other international financial requirements.
Global Management degree requirements are the same as for general business administration, but with additional courses for global strategy, international business law, and diversity and cultural fluency.
You should plan on a heavy concentration in finance, accounting, statistical analysis and economics, as well as management and other business concepts. You must have a strong background in the basics of the role you are after and then layer in familiarity with international requirements.
If you are not already multi-lingual, you should plan to fill your some of elective classes with language classes. Most large corporations give hiring and promotional preference to global management candidates that speak and read multiple languages fluently. There is currently a heavy demand for people fluent in the Chinese language.
Some Bachelor’s degrees offer specialization in global business, but you should plan to earn an MBA with a specialization in global business.
Online Global Management Curriculum
It is easily possible to earn a Bachelor’s or a Master’s degree in an online, on campus or blended program. Many reputable schools offer programs in global management. For the best background in global business, you should plan on earning at least an MBA degree.
Earning a Degree Online
Many schools offer a global management degree online. If you were interested in a particular area of business, such as marketing or finance, it would be a good idea to focus your undergraduate degree in that area and then add international courses as electives, or as part of your MBA program.
online education is a great choice if you have already started your career and want to branch out, or if you live very far away from schools offering the program you need. Before you commit to a program, just make sure that the school you are considering is accredited.
Bachelor’s
To earn a Bachelor’s degree in global management, you will be required to take courses in international trade and investment, global supply chains, global finance, International marketing, and global human resource management. It will be quite helpful to add language courses to fill in your electives, since most businesses expect global managers to be multi-lingual.
Master’s
The best Master’s degree program for global management is an MBA, regardless of your Bachelor’s degree concentration. For an MBA in global management, you will take courses in international finance, international law, global marketing and global strategy planning.
Further Education
Some schools offer both on campus and online PhD programs in international business. You will take courses in global management, global strategy and enabling opportunities in a global market.
Coursework
In addition to general business administration courses like accounting, economics, management and business law, you will need to take courses in international trade, international investment, international marketing and global human resource management.
Career Opportunities
Opportunities in global management are virtually unlimited. You may be able to specialize in international finance, logistics, marketing or investment, depending on your area of interest,
Executives in these areas usually earn a 10 percent or more salary premium over similar positions that do not include international responsibilities. In addition, many jobs in foreign countries offer more vacation and higher perks than equivalent US-based positions.
Businesses are looking for people with experience and interest in global management because of the increasing emphasis on international operations. Career opportunities in global management are increasing faster than management positions with a purely domestic focus.
Earning Potential
According to US Government Bureau of Labor Statistics salary surveys that chief executive officers (CEOs) earn a median wage of nearly $177, 000. Managers of companies and businesses earn a mean of $209,000 and managers of security and commodities exchanges earn $215,000. The highest salaries are in New York and California, but salaries are high in all states.
Salaries for positions that report to CEO’s are lower. General and operations managers for example, earn between $95,000 and $150,000.
Management positions with international responsibilities will fall at the high end of these ranges. Job growth for international business is expected to match the growth in the overall economy.
FAQs About Global Management Degree Careers
How Long Will It Take to Complete an Online Global Management Degree?
A Master of Business degree (MBA) in Global Management is one of the most commonly pursued programs and depending on the school tends to take no more than 18 months to five years to complete.
What Are the Topics of Study for a Global Management Degree?
Classes in global management will typically feature supply-chain management, international corporate finance, international marketing as well as cross-cultural communication.
Whether or not you have selected a career focus in finance, supply chain or another business discipline, you should add courses in international finance, multi-cultural management, international human relations, international strategy and international investment.
What Can I Do With a Global Management Degree?
Office managers with sister offices around the world are common career options. Global call center managers and purchasing agents are other career possibilities.
Do I need to speak multiple languages for a career in global management?
While it isn’t necessary to be multi-lingual, you will be competed with people from all over the world for these positions. Many countries have a strong educational tradition of teaching multiple languages. Not being fluent in another language besides English will put you at a disadvantage in getting the job and may hinder your performance and understanding of the culture where you hop to work
