The relevance of International Business Studies in Small Firms
Student’s Name
Institutional Affiliation
Course
Professor’s Name
Date
The relevance of International Business Studies in Small Firms
Introduction
International business can be defined as the businesses that cross the borders of a country. Studying international business mainly equips and expands one’s knowledge and skills in global awareness. Since there is stiff competition in the international market, many companies cannot survive ad; therefore, most of the companies that do are bi firms with enough resources to keep pace with international business (Wu & Deng, 2020). Thus, studying international business becomes more relevant for a person going to work in a large company compared to one in a small company. However, this does not mean that studying international business has no relevance for persons going to work in small firms. They acquire knowledge that is still helpful to small firms such as networking.
The relevance of International Business Studies in Small Firms
Small businesses also export and import products and services, and therefore they are very active in the global market place. Smaller companies are, in fact, more flexible to meet the demands of the global market as compared to larger corporations. Studying international business equips one with skills such as cross-cultural communication, adaptive thinking, and interpersonal influence (Hill & Hult, 2018).
These skills can also be applied in small firms; for instance, when interacting with the local customers who have different cultures, the cross-cultural communication skills acquired can be of great help. Networking knowledge is one of the key areas in international business, can be applied in small businesses to establish a mutual relationship with customers (Beugelsdijk, Kostova & Roth, 2017). Studying international business can, therefore, be relevant to people who are going to work in small firms since some of the small firms are active in the global market, and also some of the knowledge and skills can be applied to small business operations.
Conclusion
International business mainly involves a firm exporting and exporting goods. Studying international business equips one with the knowledge and skills required to participate in the global market. Since some small businesses also participate in the global market studying international business becomes relevant for a person working in a small firm. In addition, knowledge and skills such as networking and cross-cultural communication skills acquired after the stud of international business can also be helpful to small businesses.
References
Beugelsdijk, S., Kostova, T., & Roth, K. (2017). An overview of Hofstede-inspired country-level culture research in international business since 2006. Journal of International Business Studies, 48(1), 30-47.
Hill, C. W., & Hult, G. T. M. (2018). International Business: Competing in the Global Marketplace. Retrieved from: https://wetransfer.com/downloads/b56dc194a4d41870fecab424d5ddcbff20200630084941/3655dfb77ca2120c06746fa57eecd1d720200630085000/05498e
Wu, B., & Deng, P. (2020). Internationalization of SMEs from emerging markets: An institutional escape perspective. Journal of Business Research, 108, 337-350. Retrieved from: https://doi.org/10.1016/j.jbusres.2019.10.037