The U.S. Department of State recognizes Minnesota as a leader in international business, establishing economic stability through trade and affirming its role as a major stakeholder in the global economy:
- Over 200 countries buy Minnesota-grown goods and services, making Minnesota a large global exporter
- In 2011, over $9 billion in services were exported, and in 2012, over $23 billion in goods were exported, allowing Minnesota’s exports to create revenue and jobs for residents of the state
- International trade and commerce has created and maintained 750,000 jobs within Minnesota
- Minnesota has created business partnership with Brazil, Barbados, and Panama that facilitate international trade, cooperation and trust
The Minnesota Office of Exporting and Trade is responsible for promoting and facilitating international trade relations throughout the state.
To do this, the Office focuses on providing international business education, training, and resources to small and mid-sized companies throughout the state, such as market research, export counseling, export financing, export statistics, and a business directory.
Overall, the strong international business programs, initiatives, and companies throughout Minnesota increase the state’s global visibility and establish it as a global economic leader.
Earning the Right Degree for an International Business Career in Michigan
Earning a degree in international business is often the launching pad for careers with the world’s top multinational corporations and multi-domestic businesses.
Schools of international business in Michigan tend to offer both online and on-campus programs to accommodate the needs and preferences of a diverse student body.
Earning a Bachelor’s Degree in International Business
Students who are interested in majoring in international business will find bachelor’s degree options that include:
- Bachelor of International Business
- Bachelor of Arts or Science in International Business
- Bachelor of Arts or Science in Business: International Relations
- Bachelor of Arts or Science in International Business Management
- Bachelor of Arts or Science in International Business Administration
While a bachelor of arts in international business will lean more heavily on humanities-related courses, such as foreign language and international culture, a bachelor of science or bachelor of business is more likely to exclude language courses and opt for more traditional, business courses, such as microeconomics, finance, accounting, and more.
Most international business bachelor’s degrees will include core international business courses, such as:
- Principals of macroeconomics
- Principles of microeconomics
- International accounting
- International finance
- International business laws
- Introduction to marketing
At the undergraduate level, students may be able to take electives or specialization courses in areas such as:
- Human resources
- International negotiations
- International banking
- Import/export marketing
With a bachelor’s degree in international business, students are prepared to pursue jobs in international business that include:
- International Trade Specialist
- Import/Export Compliance Specialist
- International Economic Analyst
- Cultural Advisor
- International Student Advisor
An example taken from a job listing posted June 2015 illustrates the kind of jobs available in Minnesota for those with a bachelor’s degree in international business (job listing is shown as an example and does not constitute a job offer):
Export Specialist for Medtronic in Plymouth – Applicants to this position should hold a bachelor’s degree in business, international studies, or a related field. This position will involve being responsible for coordinating all exporting activities, processing international orders, and arranging international transportation.
Advancing to a Master’s Degree in International Business
While many professionals are able to begin their international business careers with a bachelor’s degree, leadership positions with companies that conduct business across international borders are most often reserved for those with a master’s degree.
To enroll in a graduate school of international business, students will need to meet minimum admission requirements, which often include:
- Hold a bachelor’s degree
- Hold a 3.0 GPA
- Submit GRE or GMAT scores
Master’s degrees with a major in international business include, but are not limited to:
- Master of International Business (MIB)
- Master of International Management (MIM)
- Master of Arts in International Relations: International Business
- Master of Arts in International Relations: Business Diplomacy
- Master of Business Administration (MBA): International Business
- Master of Arts in Foreign Service/Master of Business Administration (MA/MBA)
Within these programs, students will take such core courses as:
- International business environment
- International business policy
- International business law
- International accounting and finance
Common concentrations within international business graduate programs include:
- International Business Law
- International Financial Management
- International Human Resources
- Language and Cultural Studies
With a master’s degree in international business, professionals are prepared for jobs that include:
- International Marketing Director
- Multinational Business Manager
- International Trade Manager
- Business Development Director
- Business to Business Translator
An example taken from a job listing posted June 2015 illustrates the kind of jobs available in Minnesota for those with a master’s degree in international business (job listing is shown as an example and does not constitute a job offer):
Global Sourcing Manager for Cummins Rocky Mountain in Fridley – applicants to positions such as these should hold a master’s degree in business or a related field, and they will be responsible for developing and communicating a global system strategy to cross-functional stakeholders.
Minnesota’s Contribution to International Trade and Commerce
Government-affiliated agencies and nonprofit associations dedicated to furthering international trade and commerce for Minnesota-based companies include:
- Defense Industry Offset Association – As a collaborative effort of private businesses, this association works to support, sustain, and strengthen international business with Minnesota businesses and foreign stakeholders.
To do this, the association focuses on educating its members on issues such as international joint ventures, international finance, and transactional analysis.
- Midwest Global Trade Association – Based in St. Paul, this association works to support international trade through hosting networking events, providing professional development training, and through creating industry resources.
Events include seminars with titles such as, “An Export Transaction: From the Order to Out the Door,” “Import Basic Operations,” “Export 102: Best Practices,” “Trade Transformation: Customs and Border Protection Initiatives,” and more.
- Minnesota Department of Agriculture Exporting and International Trade – Due to the hard work of this department and Minnesota farmers, Minnesota is the third largest agricultural exporting state across the nation, bringing in over $8 billion to the state in 2013.
The Department’s primary export markets include those in China, Mexico, Japan, Canada, South Korea, Taiwan, and more.
- Minnesota-China Partnership – This partnership is dedicated to promoting collaborative ventures with Minnesota and China in order to promote greater understanding of US-China relations, to foster engagement in Minnesota-China initiatives, and to increase economic activity, international trade, and international investment between Minnesota and China.
- Minnesota International Center – Individuals, corporations, and organizations are all eligible to become members of the Minnesota International Center, which offers programs such as global education, world affairs public forums, and international visitor leadership programs.
Global education and world affairs forums focus on international issues and may focus specifically on international business concerns. The international visitor leadership program works to host foreign dignitaries and set up meetings, lectures, and networking opportunities pertinent to businesses.
Minnesota-Based Organizations Dedicated to International Trade and Commerce
Some of Minnesota’s top nonprofit organizations and government agencies dedicated to strengthening the state’s international trade relations include:
- Minnesota Department of Employment and Economic Development
- Minnesota Office of Exporting and Trade
- Minnesota Department of Agriculture Exporting and Trade
- Defense Industry Offset Association
- Midwest Global Trade Association
- Minnesota-China Partnership
- Minnesota International Center