International Business Major
Why have International Business as your second major?
According to a recent comprehensive study, international specialists in accounting, economics, finance, information systems, management, and marketing earn, on average, 15 percent more than their colleagues that are tied to the domestic market. International specialists also have greater opportunities for foreign travel and cultural interaction; adding to the long list of reasons why international business is an excellent major to combine with one of the other functional areas of business. The INB curriculum is designed to help students flourish by learning skills that are in high demand by organizations engaged in International Business.
The INB major offers its students professional development opportunities such as networking events with INB professionals, corporate visits, and INB guest speakers. The INB students have diverse backgrounds and come from many countries. Together with an environment that supports discovery and mutual understanding, our students have the opportunity to develop many cross-cultural competencies. Moreover, students also connect to other students and organizations through their very own INB student. This student-run club organize academic and social events to foster fellowship among the students and professionals of International Business.
Recently, our students have gone to work for Deloitte, KPMG, PwC, Citibank, SLB, 3M, ConocoPhillips, among others. Companies seeking more information about partnering with our INB program or hiring our students, please contact the INB Program Director (Prof. Lourenço Paz, lourenco_paz@baylor.edu).
INB is always part of a double major, requiring that the student choose a primary major from one of the functional areas of business (Accounting, Economics, Entrepreneurship, Finance, Management, Marketing, etc.) or Baylor Business Fellows. See below the outline of the major:
Required:
- INB 3305 - Global Business Practices
- INB 3332 - Business in the Global Economy
Choose 3 courses from:
- INB 3333 - Doing Business in Different Cultures
- INB 3350 - International Entrepreneurship
- INB 4306 - Global Business Strategy
- INB 4320 - International Business Law
- INB 4325 - International Marketing
- INB 4331 - International Business Finance
- INB 4333 - Foreign Exchange Markets
- INB 4334 - Economic Development
- INB 4338 - Economic Systems of the World
- INB 4345 - Global Trade Compliance
- INB 4395 - Internship in International Business
- ENT 3380 - Global Perspectives on New Ventures
Other:
- Proficiency through the 4th level of a foreign language required.
Description of the INB required courses:
INB 3305 - Global Business
All business is now conducted on a global scale. In fact, $30 trillion dollars’ worth of products and services are moving around the globe annually. In this course you will realize that globalization has skyrocketed over the past 50 years making the world into a more connected and interdependent place. Whether you dream of working abroad or working in an organization that operates on a global scale, this course will give you an international perspective to business that makes you more competitive in today’s workforce.
INB 3332 - Business in the Global Economy
In this course you will learn about what, why, and to whom countries and firms export and import. The role of the World Trade Organization in setting up the rules of international trade is discussed, as well as the policies used by governments to promote or restrict international trade. Additionally, you will learn how international trade affects workers’ wages and job prospects.
Description of our most popular INB elective courses:
INB 3333 - Doing Business Across Cultures
Not all business practices are the same. Did you know that there are over 6,000 languages in the world? Cultural scientists suggest that there are at least that many cultures and sub-cultures in the world. The U.S. State Department estimates that approximately 10 million Americans (3%) are living abroad as expats, and that 23% (2.3 million) are on business assignments from their respective companies.
Companies are looking for college graduates that have high cultural intelligence and are willing to travel or live abroad. This course is designed to give you a global perspective that will enable you to be effective in today’s interconnected economy.
Cross-cultural competency will enhance your ability to build strong relationships across borders and equip you with the tools to thrive in the global marketplace.
INB 4306 - Global Business Strategy
Strategy has been defined as the great work of an organization. It is something that every person working in management, regardless of position, needs to appreciate and understand. When applied to the international marketplace, strategy is even more paramount to an organization’s work and success. While having a good strategy does not guarantee success, having a poor strategy will guarantee failure.
By taking this course, you will learn to think strategically and thereby obtain a skill that is crucial to success in your career. And by learning and understanding strategy in the context of global business, you will be well prepared to advance in any organization that does business around the work, which is true with most major firms today. The ability to compete internationally is a requirement for many companies in a variety of industries. This course will teach you how this can be accomplished through global business strategy and therefore will make you of value to employers.
INB 4345 – Global Trade Compliance
In today’s challenging job market, the possession of specialized and unique skills provides you a competitive advantage. This is particularly true when it comes to careers in international business. Some of the most pressing needs of international firms include determining whether or not their products can be exported to certain markets that either have restrictions on exports to those markets or require an export license to ship to those markets. Another pressing need is to be able to quickly clear through customs foreign goods imported into a country as part of a firm’s global supply chain operation.
This course will provide you with such skills by learning how to determine if a product needs an export license to ship to a foreign market and how to ensure that imported goods can be expeditiously cleared through customs. You will also learn about how international trade compliance is related to other aspects of the management of an international firm. These are marketable skills that you will only obtain by taking this course. As a result, you will have skills that employers engaged in international business will notice and will therefore make you stand out from others.
Special topics course (INB 4V98): Quality Management Systems for Global Competitiveness
A comprehensive overview for International Business majors, exploring how globalization has led to a convergence in knowledge and techniques required to maximize quality and efficiency, enabling MNCs to be competitive in the global economy. Students will learn the concepts and systems of quality management that have evolved over the past 700 years from the craftsmen guilds of medieval Europe to the supranational quality standards of the International Organization for Standardization (ISO). Attention will be given to the most prevalent Quality Management Systems (QMS) in use today around the world.
This course will emphasize the importance of understanding the history and evolution of the quality movement, with a focus on the principles, systems, tools, and techniques that have been used over time. Special emphasis will be given to the quality management systems (QMS) that emerged in the 20th century such as Statistical Process Controls (SPC), Total Quality Management (TQM), Six Sigma, Lean Manufacturing, Just-in-Time (JIT), Continuous Quality Improvement (CQI), and the International Organization for Standardization (ISO). Students will discover that a QMS in organizations is an imperative for global competitiveness and will learn how to implement and manage the most prevalent quality systems.
In case of any questions, feel free to contact the INB Program Director (Prof. Lourenço Paz, lourenco_paz@baylor.edu).
