Global markets constantly change, and multinational companies (MNCs) play an increasingly important role. As such, knowledge of international business will help you to stand out in the job market. If you have the ambition to gain knowledge in this area, International Business Administration (IBA) is the programme for you!
Similar to the Bachelor’s of Business Administration (BBA), IBA is an academic discipline, focusing on various aspects of international business. In this article, we will share with you, what an IBA programme looks like, its structure, the importance and benefits of IBA for your career.
What is IBA
International Business Administration Is an ideal programme for a career in international business. Within an international context, IBA focuses on many aspects of business and economics; including management, marketing, finance, human resources, and so on. With an IBA degree, you can work in various departments.
The format of IBA courses can differ among colleges. For example, it can be:
- Full-time or part-time: a full-time programme can help you drive into the field of international business, while a part-time program is more flexible.
- Online or on campus: On campus, you can build networks with people from different backgrounds. However, studying online can save a lot of money and time. Be sure to understand which benefits your goals most.
The Structure of IBA
The International Business Administration programme covers all the necessary business courses within international contexts. This allows you to study an in-depth understanding of global business.
The undergraduate IBA programme usually lasts three years. Its structure can be divided into three stages:
- 1st Stage: You will learn the fundamentals of international business, including theoretical and skill-related courses. You will be introduced to a wide range of business knowledge, which lays a foundation for your further study.
- 2nd Stage: Based on your interests, you will concentrate on discipline-specific courses to expand your knowledge. You can extend your critical understanding of key concepts and methods, and develop your management skills. This stage helps you pave the way for your career.
- 3rd Stage: In this stage, you are prepared for your career path after graduation. You can either choose to study abroad or work as an intern to practise what you have learned. You will gain professional experience and can more clearly decide on your further career or study.
Why Earn an IBA Degree
Now, you have known what IBA is and how the program is structured, you may still wonder why I should study IBA. In this section, we will tell you the three major reasons.
The world is diverse in terms of culture, language, technology, and politics. An IBA provides the opportunity to learn business from an international perspective. Additionally, you will study and work with people from different backgrounds, enhancing your network.
You will be exposed to an international environment while studying IBA. Together with ambitious and highly motivated people, you will learn how to perform successfully. Under the positive influence, you will be equipped with the knowledge and skills to handle international business and study how international organisations work. What’s more, you have the opportunity to gain real-life experience. You can apply theoretical knowledge while working in an international company.
Studying IBA develops a wide range of skills, from research, planning, and reporting to communication, leadership, and presenting. All these prepare you for working in international organisations. By studying IBA, you will grow to be a versatile person.
- Professional skills
The IBA programme provides you with a broad approach and options for professional business skills, such as management, marketing, accounting, finance, consulting, and even human resources.
As part of your studies, you will also acquire basic knowledge of social science, such as politics, economics, and psychology, which are important for observing the external environment when doing international business.
- Personal skills
Your knowledge about international business and international experience make you stand out in job interviews, and the personal skills you gain from IBA are the determining factor in getting the job.
Studying IBA means you will work on both individual and group projects. You can develop personal skills, including strategic thinking, problem-solving, presenting, reporting, and so on. Also, you will gain leadership, communication, and decision-making skills, as well as a sense of teamwork.
In the future, you may work with people from different countries. Personal skills help you corporate and communicate with them easily. Thus, you can manage a team efficiently.
After studying IBA, you will have many options.
IBA prepares you for an MBA course. A bachelor’s degree in finance or economics is normally required for MBA programmes, and IBA courses include everything from finance and marketing to intercultural management. During the IBA programme, you develop your management skills and specialise in the field you are interested in, setting you up for success in further studies.
Aside from the wide array of career options, you can even earn more with an IBA degree. According to the U.S. Bureau of Labor Statistics, business and financial occupations earned $76,570 in May 2021, compared to $45,760 for other occupations.
Globalisation has shifted traditional attitudes to a global mindset, especially in the business world. The IBA programme offers you the opportunity to study varied areas of international business. Through three years of study, you will gain high-quality management skills and practise them.