Benefits of Pursuing an Online Master of Laws (LLM) in International Business Law

∙ By ∙ No Comments

In today’s globalised society, the legal field encompasses complex international regulations, trade agreements, and corporate governance standards. As the demand for legal expertise increases, management professionals can significantly benefit from an online Master of Laws (LLM) in International Business Law. This programme is a gateway to mastering global commerce, equipping individuals with the skills to thrive in international business. Furthermore, this advanced degree provides a flexible format tailored to meet the diverse needs of aspiring managers worldwide, making it an attractive option for those seeking to advance their careers in an interconnected world.

Photo Credit: Unsplash+

The Online Master of Laws (LLM) in International Business Law at Robert Kennedy College, Switzerland, is specifically crafted for management professionals and graduates who wish to enhance their understanding of international business law. This demanding programme presents a thorough curriculum covering essential subjects such as international trade law, corporate governance, and dispute resolution mechanisms. Offered online, it allows working professionals to manage academic and personal commitments.

Alongside academic rigour, the programme fosters international networking opportunities, connecting students with diverse peers and esteemed faculty worldwide. These interactions not only enrich learning but also strengthen professional relationships that are vital for success in international business law.

Some of the key benefits of pursuing an online LLM in this dynamic field are:

Flexibility

Enrolling in an online Master of Laws (LLM) programme offers notable advantages, primarily flexibility. Unlike traditional degree programmes that require classroom attendance, online LLM programmes allow students to study at their own pace. They can choose their learning environment—home, a café, or any suitable location. This adaptability benefits working professionals who are balancing careers and studies, as well as individuals with family commitments. Online programmes align educational goals with personal and professional obligations, making higher education more accessible for diverse learners.

With asynchronous modules, recorded lectures, and discussion forums, students can access course materials at their convenience. For those in demanding legal jobs, this flexibility enables them to continue their education without sidelining their careers.

A Global Curriculum

Photo Credit: Unsplash+

An online Master of Laws (LLM) in International Business Law provides students with a thorough understanding of global legal principles. The programme covers international trade law, which deals with the rules governing trade. It enables students to grasp vital legal concepts and develop the skills necessary to navigate the legal challenges that multinational corporations encounter. Graduates are thus well-equipped to make meaningful contributions to their global professional careers.

Career Growth

Specialising in International Business Law offers a significant advantage in a competitive job market. As organisations—from multinational corporations to smaller NGOs—navigate complex operations across jurisdictions, the demand for managers with a solid legal foundation has grown. An online LLM (Master of Laws) provides specialised training in key areas like International Alternative Dispute Resolution, Contracts, and International Trade Law. These skills are crucial for managing global trade laws, enhancing career prospects and organisational effectiveness.

For professionals transitioning to global legal roles, the degree offers academic credentials and practical insights essential for success. It also acts as a pathway to leadership positions and specialised consulting opportunities.

Networking

The perception that online learning is isolating can be misleading, as the online programme is designed to cultivate global networking opportunities. Through virtual classrooms, collaborative assignments, discussion forums, and live webinars, students are provided a robust platform to engage actively with their peers and faculty members from various cultural and professional backgrounds. These interactions are crucial as they reflect the inherently international nature of business law, where collaboration across borders is not merely an exception but a standard practice. Online programmes can enhance students’ experiences by fostering connections vital in today’s interconnected global marketplace.

Cost-Effectiveness

Photo Credit: Unsplash+

Pursuing an online LLM (Master of Laws) is often a more cost-effective option than attending an on-campus programme. The financial savings arise from various factors: students do not incur commuting, accommodation, and other expenses typically associated with traditional education formats. Furthermore, many online programmes offer flexible payment plans that facilitate financing, making higher education more accessible. This blend of affordability and convenience, combined with the degree’s potential to enhance earning power significantly, makes an online LLM a highly worthwhile investment for many individuals seeking to advance their careers.

Balancing Work-Life-Education

Returning to school can be daunting for many professionals, particularly when balancing work and personal responsibilities. Online programmes offer flexibility, enabling individuals to manage these competing priorities effectively. A significant advantage of online learning is the ability to tailor study schedules around lifestyle commitments, allowing students to pursue academic goals without compromising family, work, or personal interests.

Online Master of Laws (LLM) programmes provide a flexible format essential for working professionals, equipping them to advance their education whilst maintaining career trajectories. This dual focus enables them to acquire new knowledge and skills to apply in their jobs.

In summary, the flexibility of online education empowers students to excel academically and professionally, making it a practical choice for advancing careers without the constraints of traditional schooling.

Accessibility

Online education transforms traditional learning by removing geographical barriers, enabling individuals worldwide to access advanced opportunities. The shift to online platforms frees students from the necessity of relocating for in-person classes, alleviating complex visa issues. This promotes inclusivity and enriches education by providing quality learning for diverse backgrounds.

Online programmes also combine live interactions with recorded sessions, offering flexibility for students across different time zones. The design prioritises accessibility, allowing meaningful engagement in education regardless of location or personal circumstances. This evolution democratises learning and enhances global perspectives in academic discourse.

An online Master of Laws in International Business Law is more than just an academic qualification—it is a gateway to global opportunities. By offering flexibility, a diverse curriculum, networking prospects, and career advancement potential, this degree empowers management professionals to excel in an increasingly interconnected world. Whether you want to specialise, transition to international roles, or remain updated in a rapidly changing field, an online LLM provides the tools and knowledge necessary to succeed. Embracing this mode of learning could be your stepping stone to a dynamic and fulfilling career. Click here to apply.

Empowering Business Managers: The Crucial Role of Legal Knowledge

∙ By ∙ No Comments

Management expertise is often lauded as the cornerstone of success in the competitive business arena. However, an unsung hero is equally pivotal in steering companies towards prosperity: legal knowledge. Understanding the law is not just necessary for legal professionals; it’s a crucial asset for managers across all levels of a business organization.

Photo by Tingey Injury Law Firm on Unsplash

Why Legal Knowledge Matters for Managers

Management students might initially baulk at the idea of delving into legal studies. The dream of becoming a top-tier manager in a multinational company often doesn’t include grappling with legal jargon. Yet, the reality is starkly different. Legal acumen is not a luxury but a necessity, even more so in smaller organizations where a dedicated team of lawyers is a distant dream.

Costs, Profits, and Legal Implications

Photo by Scott Graham on Unsplash

For any profit-oriented enterprise, the bottom line is king. Legal considerations are integral to cost-cutting and profit-enhancing strategies. Without a basic understanding of the law, even the most business-savvy managers can find themselves at a disadvantage, unable to navigate the complexities of legal constraints and opportunities that directly impact financial outcomes. Not all organizations have the luxury of an in-house legal department. Smaller entities may lack the resources, while even medium-sized firms might find it impractical to maintain a legal team for every possible scenario. Given the multinational operations of most companies today, legal expenses significantly affect financial outcomes, making at least a foundational legal education not just a theoretical concept but a practical necessity for managers.

The Manager’s Role in Legal Decision-Making

Photo by Jason Goodman on Unsplash

As managers climb the corporate ladder, the expectation for legal literacy rises. Decisions made without considering their legal implications can lead to dire consequences for the organization. A manager’s ability to foresee and mitigate legal risks is desirable and expected. Managers at all levels are expected to comprehend the legal consequences of their actions, with higher-ranking individuals bearing a greater responsibility for legal awareness.

Legal Knowledge as a Decision-Making Framework

A solid grasp of legal concepts provides a framework for decision-making. It informs managers of the rights and protections available to the company and its stakeholders. In today’s globalized business environment, where companies operate across borders, understanding these legal rights is essential for making informed and strategic decisions.

The Broad Impact of Legal Understanding

Photo by Iñaki del Olmo on Unsplash

Comprehending corporate, consumer, and commercial law is essential for establishing standards in product quality, safety, operational procedures, and human resources and safeguarding the rights of the company, its customers, suppliers, and workforce. It’s a strategic tool for managers that can lead to better, more informed, and ultimately more profitable business decisions. As the business world becomes increasingly complex and interconnected, the value of legal understanding only grows. For aspiring managers, embracing legal studies is not just an academic exercise; it’s an investment in their future leadership potential.

This blog post highlights the importance of legal knowledge in business management. We offer a number of 100% online programmes with a focus on business law. Take a look and see if we have anything that interests you. Please feel free to chat LIVE on WhatsApp with one of our Education Advisors for more information.

FIVE Benefits of studying for a degree in International/Global Management

∙ By ∙ 8 Comments

In today’s global economy, we take international brands/companies setting up shop locally for granted. And for most of us, it does not matter what went on behind the scenes to enable that company/brand to choose a location.

Today’s global economy with multinational brands. Photo by Nik Shuliahin 💛💙 on Unsplash.

There are many challenges and considerations that a company takes into account when opening any new location, especially when opening a new international location.

A programme in international business will help students develop key skills in various business disciplines, such as supply chain, human resources, marketing, finance, etc., within a global context, thereby helping students gain a global perspective to be successful in business.

Most of Robert Kennedy College’s (RKC) 100% online programmes focus on the international aspect of business management. The following are five reasons why you should consider doing a programme that focuses on the international aspect of business management.  

1. An international perspective

Photo by Nadine Shaabana on Unsplash.

Businesses face many challenges, but when viewing these challenges with a global lens, each of these challenges takes on characteristics that are unique to the country. The programme will better prepare students to tackle these challenges, giving them the knowledge to understand different perspectives and problem-solving skills with a broadened worldview. Another advantage of doing a programme with a global context is the knowledge and skills learnt can easily be used when managing local businesses as well. 

2. Learn new skills

Photo by Tim Mossholder on Unsplash.

Like any graduate programme, students will gain new knowledge and skills. But unlike a typical graduate programme, a student in international business management will learn skills that are dynamic and useful in various environmental and economic conditions. Skills that will help students integrate with organisational and operational structures that differ significantly. Apart from mandatory skills any manager would require, such as presenting and reporting, students would also learn skills such as communication, leadership, strategic thinking, etc., from an international business point of view.

3. Global workforce management

Photo by Alex Kotliarskyi on Unsplash.

Effective management of the workforce can be complex in the best of times. However, this difficulty increases manifolds when you consider a multinational organisation. Not only will managers have to consider local sensibilities when formulating a policy, but the decisions made when hiring or layoffs can significantly impact the local economy. Students will learn to examine the changing nature of organisations in a global context and understand whether an organisation’s policies and practices can genuinely be global or if national and cultural sensibilities must be considered.

4. Business practices

Students will learn the theory of cross-cultural interaction and different cultural identities and see how these influence management practice in ethics, leadership, decision-making, communication and negotiation. Students learn to conceptualise ethics, responsibility and sustainability in diverse global settings and develop an insight into the expanding role of sustainable development, corporate governance, responsible business practice and the ethical dimensions of organisational policies and procedures. 

5. Become more employable

Photo by Cytonn Photography on Unsplash.

The most crucial point for any student. Most businesses today are multinational, looking to go multinational or have partnerships with vendors in other countries. The skills students learn from a programme in international management will make them very employable. And even if organisations are not looking to go global or have only local business partnerships, the skills learnt from a programme like this will be just as valuable as those with a more traditional business degree.

Hopefully, these points will help you better understand the value of a degree in international/global management. If you have already completed a degree in international/global business management, please share your experience and the benefits you got from the degree. I am sure our readers would appreciate and benefit from it.

If you have been thinking about doing either a BA, MBA, MSc or LLM degree with an international/global twist, look at our list of programmes and see if we have anything you are interested in doing. 

You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programme that is right for you, the application process, and details on discounts we might be offering at this time.

Should you consider a career in International Business? Here are 3 reasons why you should!

∙ By ∙ No Comments

I dislike starting a blog using a cliché, let alone one the is well worn. The world today is really small. One could even call it a “global village”. There are several reasons for this: cheap, quick travel across the world to clear, instantaneous, and secure audio and video communication and conferencing. Decisions can be made from across the world, data and finances can be transferred securely and instantaneously to execute decisions, and human resources, if required, can be flown in overnight.

Small world/global village. Photo credit: Bill Oxford on Unsplash

As the result of all this globalisation and economic barriers disappearing, businesses, even small businesses, have become multinational.

Having said that, there are still several barriers businesses must overcome to be genuinely international or multinational such as language, culture, local labour laws, politics, economy, and geographical distances, to just name a few. A business will have to overcome at least as many difficulties as there are countries to truly operate internationally.

There are several ways companies overcome these challenges, from recruiting locally to creating or recruiting specialists in international business who are familiar with the local laws, culture, etc., and who can learn and adapt quickly. These specialists will not only be familiar with the working of the company but will also be familiar with the expectations of the company from their local subsidiaries, partners, and vendors. 

These international business specialists will have to work closely with their local agents communicating the company’s policy and expectations. They will, in all probability, have to travel to the new country of operation as a representative of the company and spend a substantial period in-country to ensure the processes are set up correctly. 

More prominent companies will also set up an international office with the primary purpose to troubleshoot any issues that might arise from operations in any country. 

Here are 3 reasons why YOU should consider a career in International Business

Salary and Demand

Photo by Alexander Mils on Unsplash

As per the National Center for Education Statistics (NCES), in the U.S., only about two thousand students graduate with a master’s degree in International Business every year. To give you an estimate of the earning potential of a career in international business, according to data published by PayScale Inc., in the United States, the approximate early career pay for someone with a bachelor’s degree in International Business is about USD 52’000. I can infer from this that there is an opportunity to get in on the ground floor for a career in international business as the number of graduates is still very low. The salary offered is competitive, and depending on the company and job profile, there is the potential to earn more from the get-go itself. 

Job Satisfaction 

Find a job you enjoy doing, and you will never have to work a day in your life.

Mark Twain

Job satisfaction is very subjective. You might hate to do the work that I love, and vice-versa. So, before you take up a job in international business, ask around, find out what the job entails, how much travel is involved, what kind of job security is being offered? According to a survey by PayScale Inc., about 40% say that a career in international business has “meaning”, here “meaning” means they feel their work makes the world a better place. Whereas about 70% say, they are satisfied with their work. So, the potential of having a satisfying career is relatively high, and maybe even a meaningful career. 

Future-proof 

International business is a people-oriented job. It is dependent on people-to-people interactions, decisions, and analysis made by managers, understanding the cultural nuances of (a) people. As a result, international business cannot be automated. Even if the process you are involved in does get automated, something new will get created just above your current profile in the value chain. So, a career in business in general and in international business in particular will, in general, be future-proof, and unless something goes drastically wrong at your company, you need not worry about losing your job.

If you are ready for great career opportunities, professional growth, traveling and exploring new cultures, then a career in international business might be for you. Robert Kennedy College offers several programmes in International Business. Chat LIVE on WhatsApp with one of our Education Advisors for more information.

4 ways in which International Business Law affects trade

∙ By ∙ 2 Comments

In the global economy that we live in today, everything and everyone is connected and inter-dependent. The demand for companies to grow multi-nationally has grown exponentially since the pandemic started last year. Internet boom in the late ’90s and 2000s had been instrumental in the dramatic rise in international business. Now, it seems to have exploded manifold.  

The scale and scope of business operations are not limited to one country. While the raw material is procured in one country, it is manufactured or assembled in a different country and marketed and sold in yet another. Businesses have crossed boundaries set by a country’s borders. They operate and thrive on foreign land. It is however not the same as operating in the homeland. Before setting foot on the foreign land and expanding, a business must familiarise itself with the land’s laws, legal system, social and economic conditions, political system, and culture. All these factors have a significant impact on the running of the business and its bottom-line.  

Laws affect every business, whether it is being operated as a ‘brick and mortar store or selling goods/services online. Different countries have different legal systems established to protect the country’s economy and trade and preserve their social, economic, cultural, political environment.

National governments have an important relationship with global businesses. Governments tend to control and manage their trade relationships with an array of policies like taxation laws, tariffs, subsidies, currency controls, import-export policies, free-trade zones, and so on. For instance, China is a Communists government, and the government formulates and strictly controls all business sector laws.

On the other hand, India has a democratic government, and business laws are made to protect small businesses and consumers.

There are three types of legal systems: 1. Civil law, 2. Common law and 3. Religious law. Countries like the United States, India, and Australia use common law systems; Germany, France, and Russia use civil law systems and countries like Pakistan, Middle Eastern countries, Saudi Arabia and Iran operate on Islamic laws. Therefore, it is imperative for any business to fully understand the legal system that it is going to operate in and abide by its rules and regulations for conducting a business.  

Here are four ways in which international business law affects trade and things every business must research well before venturing into the country or region to avoid any failures:  

1.   Taxes  

Taxes take a major cut out of a company’s profits. When it comes to taxes, companies should do their homework well. From how much taxes are levied on the goods and services, manufacturing or selling, to how the taxes should be charged, i.e., either include taxes in the sale price or charge extra tax, the businesses must follow the standards set by the law. Companies like to operate in countries that offer attractive tax regimes with low tax rates on income, capital gains, and dividend income. Singapore, for these reasons, has been one of the most popular locations for companies to set up offices in the country and enjoy its lowest corporate tax rates.  

2.   Intellectual property  

Legalities around intellectual property can be complicated and expensive. Trademarks, copyright, and patents are intellectual properties that every business needs to guard and protect. Countries take extra measures to attract international business by establishing stringent IP protection laws and reducing piracy. Governments across the world have established several acts and international conventions to protect international businesses and resolve issues if any arise. The Paris Convention for the protection of Industrial property, the United Nations Convention on contracts for International Sale of Goods, the Foreign Corrupt Practices Act, the Madrid Protocol, the Singapore Treaty, the Nice Agreement, the Patent Law Treaty and the Hague agreement are a few of the many international treaties formed to protect international business and trade.  

3.   Supply Chain and Infrastructure  

Establishing an effective and efficient infrastructure is the backbone of any successful business. Cheap sources of raw material can help companies to have huge profit margins. International business laws exist that regulate international shipping, export and import duties.  

4.   Labour Laws  

While cheap labour attracts foreign investment into a country, labour laws exist to protect human resources from any exploitation. The textile and footwear industry are among the many industries that have shifted their manufacturing operations to Asian countries that offer cheap labour. The Rana Plaza collapse, an incident in a Bangladeshi factory, happened in 2013 but is still fresh in the memory of many who lost their near and dear ones in this event. The plaza collapsed, killing thousands of its workers due to large structural cracks and poor labour protection laws. The incident stirred up an international movement and led to the establishment of International Labour Law (ILO). The ILO is the source of international labour law that is embodied in its Conventions, recommendations and the documents that emanate from the supervisory mechanism responsible for applying those international labour standards.  

These are a few of the things that any organization should take into account before venturing out into international business. If these legalities are correctly taken care of, legal counsels suggest that companies can maximise their bottom lines and enjoy huge revenues and profits. If International business law interests you or you would like to understand it better, join our one-year Online Master of Laws programme specialising in International Business Law.