Why do managers play an important role in international business?

With factors such as market expansion, economies of scale, and spreading business risk and cost advantages taken into consideration, there are several reasons why businesses may choose to go international. 

Managers play an important role in taking businesses global, as they lead businesses through the contemporary and future challenges involved in operating in the global market. 

What is international business and management? 

Simply put – international business and management explores the governance, strategies, practices and leadership involved in operating an international business. 

International business and management also explores the complex challenges related to global businesses, such as sustainability and economic downturns. 

Studying international business and management gives students the global perspective on business management that is crucial in order to be successful in today’s globalised business world. 

What role do managers play in international business? 

Managers play a pivotal role in international business, and in ensuring international businesses remain successful, even in the face of increasing global challenges. 

Just some of the ways managers ensure the long-term success of international businesses include: 

• Meeting the increasingly complex demands of today’s globalised business world 

• Applying appropriate strategic approaches that cross international borders 

• Managing mergers and acquisitions 

• Leading and guiding businesses to successfully interact with the political, economic and cultural climates they operate within 

What are some of the future global challenges that managers will need to deal with? 

Managers need to be able to tackle complex global challenges – both now and into the future – to remain successful. 

Just some of the future global challenges managers will need to deal with include: 

• Sustainability – As we continue to face climate change as a pressing issue in our global society, managers need to have an in-depth understanding of sustainability and how they can effectively adopt sustainable practices, processes and technologies when operating businesses. 
   

• High unemployment – The International Labour Organisation predicted global unemployment would reach 205 million people in 2022 – representing an approximately 10% increase when compared to 2019’s 187 million people. Latin America, the Caribbean, Europe and Central Asia were predicted to be the regions hardest hit by unemployment. 
   

• Economic downturn – With rising inflation and interest rates in multiple countries around the world since the COVID-19 pandemic, global recession has become a real possibility. This presents multiple business challenges in areas such as reduced trade activity, reduced consumer spending, and rising investment costs. 

How can an MSc International Business and Management help you succeed in international business? 

An MSc International Business and Management can equip you with the advanced knowledge, skills and expertise you need to thrive as a global business leader, empowering you with the confidence to successfully take on current and future global challenges. 

You’ll gain an exceptional grasp of operational and strategic management, as well as of the practices involved in running a successful international business. 

Through in-depth exploration of both the contemporary and future challenges associated with operating in the global market, you’ll be ready to lead international businesses into the future and ensure their long-term success – as well as your own long-term success as an international business leader. 

If you want to unleash your potential as a business leader, discover how the University of Central Lancashire’s online MSc International Business and Management can empower you with the knowledge, skills and expertise you need to effectively lead businesses into the future in today’s global market, and help to future-proof your career.