Study abroad programs are becoming increasingly popular among university students. Whether the intention is to explore a new way of learning, or you’re simply looking for a new adventure in a foreign land, study abroad benefits a range of students and interests. But how can study abroad be advantageous to business students specifically? Can study abroad provide insight to business majors in a way a traditional classroom setting can’t? The answer is yes. Here’s why:
A Global Understanding
Business and finance, no matter where you decide to begin your career, is connected on a global scale. What happens in one country can and will affect results in another. With the financial capital being located in the U.S, it’s important to understand concepts and practices on a global scale to make more informed decisions as a business leader. And with international markets on the rise, many people are considering a career in international business. Regardless of where you want to focus professionally, it’s a guarantee that you will gain an advantage if you choose a study abroad program that can provide insight into a foreign market.
Studying abroad not only brings you from a local classroom to a foreign one, but an international internship is also incorporated into the curriculum. Every business relies on marketing efforts, and nowadays, specifically, social media/digital marketing. In addition, you’ll find that the market most international companies are looking to target is English speaking. This is where you shine! Not only will you be able to utilize the marketing strategies you’ve studied during your courses, but you also have the insight and understanding of the culture they’re looking to market to. In addition to marketing, you might get involved with business and product development, sales, customer service, and more!
Everyone knows that networking is an essential part of business practice. Networking allows you to establish relationships with potential partners, investors, mentors, and even clients. AS the saying goes, “your network is your net worth”, right?
Studying abroad puts you in touch with people from all over the world. University students you might be interning with might be from the U.K, while your peers in the classroom are from Australia. The successful business owners you’ll work alongside will be locals who won’t only act as mentors providing you insight into the local market but can also provide great tips on the top things to see and do while in-country!
Should you decide to travel, study or work in any of the countries your new contacts are located, you’d automatically have someone to reach out to who could connect you with others, leading to new and exciting opportunities you could never have imagined otherwise.
Limited language abilities result in limited business opportunities. With a global, interdependent economy, more people are realizing that knowing a foreign language can be an incredible advantage. Being able to communicate in multiple languages will result in more effective marketing, genuine client service, and an increase in sales. While those advantages might be obvious to advancing yourself in the business field, here are some that aren’t.
– Decision making: Studies have shown that bilinguals have an increased ability to utilize rational and logical thought processes than monolinguals. This can be seen in the ability to consciously toggle between two languages when needed.
– Problem-solving and critical thinking: Again, relying on the rational and logical part of the brain will ultimately increase one’s ability to think critically about issues, which lead to problem-solving accordingly.
– Multitasking: This benefit is almost an immediate ability when you start learning a new language. Most learners will think in their native language while quickly trying to translate into the foreign language. This is multitasking at its finest and will spill over into other situations where multitasking is needed.
Studying abroad is a cultural immersion experience can never be found in a typical classroom setting. When you’re immersed in a culture, you live daily life like a local and soon enough you’ll become more sensitive and understanding of the cultural practices. It will also open your mind to different ways of living and teach you to respect and appreciate those differences. Cultural sensitivity is especially important in business because it allows you to more confidently do business with other countries, interact with clients and colleagues of different cultures, and remind you to do your research before acting in a way that might be considered offensive to others.
If you’re interested in taking your studies to the next level, check out the study abroad options with Maximo Nivel. As a business student, it’s important to have a well-rounded academic background that provides the insight and experience needed to be a successful business leader in today’s market. And we want to make sure you get there!