Reflections on the NAFSA IE Competencies: Business Acumen
Editor’s note: This article is one in a new series for 2023 that explores one of the 12 International Education Professional Competencies 2.0 in each issue of International Educator. Each written by a NAFSA member, the articles cover how that competency is critical to the future of the field and what it looks like in practice.
Higher education is big business. Institutions in the United States spent over $670 billion on higher education during the 2019–20 academic year. As international educators, we contribute to and benefit from that enterprise, and strong business acumen skills are critical to supporting our institutions and students.
Recognizing this dynamic, NAFSA highlighted business acumen as an International Education Professional Competency in 2022. Business acumen focuses on the planning, financial, and legal components of international education. It also includes grant writing, fundraising, and project management. These elements of our work expand the capacity and sustainability of international education, and as I reflect on the role of business acumen in my career, there are three important things international educators should know about these skills.
1. Business acumen isn’t my favorite part of international education—but it’s foundational to our work.
Like most international educators, I don’t get excited about managing budgets or negotiating contracts, but business activities are a foundational part of my work. From building program budgets to recruiting international students, business acumen is often the starting point for implementing new ideas and projects. Equally important, when I leverage successful business practices, I can
