The international business competencies needed by business graduates in the United States and Taiwan were identified through a literature review and a modified Delphi technique. Thirty-three experts, including policymakers, business educators, and international business practitioners, rated the importance of 42 statements compiled from reviews of international business competencies by the National Business Education Association and Fortune's Global 500 firms. Panel members added an additional nine competencies to the Delphi instrument. After three Delphi rounds, the panel members rated 39 of the 51 competencies as important or very important international business competencies. The following conclusions were reached: (1) the basic international business-related competencies identified from studies in the United States were also judged to be important in Taiwan; (2) for Taiwan to secure its economic competitiveness, it is important that business graduates of four-year colleges/universities be equipped with top foreign language skills, especially English; (3) it is vital for international business students to possess skills to cope with and manage advanced information technology in an increasingly global and competitive environment; (4) more knowledge of legal responsibilities in international business should be developed in business graduates; and (5) Taiwan's business graduates should learn more about China in general and about how businesses in China are managed. (Contains 31 references.) (MN)