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INTERNATIONAL BUSINESS commands center stage in today's global economy. The international business standards focus on
- raising awareness of the interrelatedness of one country's political policies and economic practices on another;
- learning to improve international business relations through appropriate communication strategies;
- understanding the global business environment--that is, the interconnected-ness of cultural, political, legal, economic, and ethical systems;
- exploring basic concepts underlying international finance, management, marketing, and trade relations;
and
- identifying forms of business ownership and international business opportunities.
Students may find this content area complex and confusing if political and business events are presented as separate and random occurrences. A more effective approach is to help students
understand the concept of the "political economy"--that is, to see how one phenomenon creates another and how one event starts a "ripple effect" throughout the world. In this way, students gain the ability to analyze world economic trends and their impact on financial
and business decisions with a reasonable degree of accuracy.
The study of international business is best implemented early in students' educational backgrounds and should be steadily reinforced to ensure that students graduate with the ability to use these skills effectively in global organizations.
The standards provide for this structure, allowing students to build on previous
knowledge and to enhance, apply, and integrate international concepts into other
business content areas.
I. Foundations of International Business
Achievement Standard: Explain the role of international business; analyze how it impacts business at all levels, including the local, state, national, and international levels.
II. The Global Business Environment
Achievement Standard: Describe the interrelatedness of the social, cultural, political, legal, and economic factors that shape and impact the
global business environment.
III. International Business Communication
Achievement Standard: Apply communication strategies necessary and appropriate for effective and profitable international business relations.
IV. Global Business Ethics and Social Responsibility
Achievement Standard: Describe the factors that define what is considered ethical
and socially responsible business behavior in a global business environment.
V. Organizational Structures for International Business Activities
Achievement Standard: Identify forms of business ownership and entrepreneurial opportunities available in international business.
VI. International Trade
Achievement Standard: Relate balance of trade concepts to the import/export process.
VII. International Management
Achievement Standard: Analyze special challenges in operations, human resources,
and strategic management in international business.
VIII. International Marketing
Achievement Standard: Apply marketing concepts to international business situations.
IX. International Finance
Achievement Standard: Explain the concepts, role, and importance of international finance and risk management.
From the National Standards for Business Education © 2007 by the National Business Education Association, 1914 Association Drive, Reston, VA 20191.
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