Ms. Palak GuptaAssistant Professor, JIMS, Kalkaji
In today’s scenario, businesses are turning global, leveraging immense opportunities of diversification, expansion and boundless operations due to the interdependence of global trade and world economy. Companies are now hiring those MBA/ PGDM graduates who exhibit a diverse perspective and knowledge domain and are able to reap profits, sustainability, demands from global market and beat global competition. International business increases the avenues to foreign market which in a way encourages innovation and efficiency in our business processes. Studying international business prepares students for top managerial, consulting and international trade affair positions all around the world. The course in International business assists and couples students to have broad and in-depth understanding of global issues and trade requirements along with full practical insights in domain of finance, marketing, human resource management, supply chain management, business analytics, and logistics and operations management.
Relevance of PGDM in International Business
International business implies any commercial transaction or activity between organizations, individuals, corporate or Government that crosses international boundaries into different regions or countries. A PGDM in International Business enables students to gain knowledge on cross culture management, mergers and acquisitions, international logistics and supply chain management, foreign trade management, international product and brand management, macro economics and business environment, international marketing research and management, foreign trade financing & exchange risk management, WTO Issues and Trade Bloc & Policies, Corporate Social Responsibility and Sustainability, Global Sourcing & Business Development etc. among others. It will help students to understand how markets, people and businesses have collaborated barring geographical constraints due to globalization.
PGDM in International Business is one of the finest and professional courses to pursue after graduation as working in this domain gives challenging atmosphere, career growth and international connect. Professionals with international business knowledge are preferred more as they are well versed with global economies and so are offered lucrative salary package, international trips and senior positions. Combining knowledge of global culture with management skills will make international business graduate stand out in the job market as employers worldwide select those who have diverse knowledge, proactive attitude, bundle of skill sets and capabilities to manage multiple markets efficiently and progressively.
International business course inculcates the skills required for global business in terms of making strategies, planning and implementing foreign business practices. Its best advantage is that one is able to experience and have look at international commerce, borders, global economies and global challenges that business face. This course also incorporates global leadership styles and social norms immersive experience. Entrepreneurial instinct is also boosted into international trade as one gets full knowledge of starting a venture from domestic to international markets, export costing and pricing, funds sourcing, franchising, outsourcing, conducting foreign market research, licensing, knowledge of foreign languages and legal laws and policies.
Benefits of studying International Business Management
- Global talent acquisition.
- Develop key management skills.
- Get opportunity to travel abroad and explore different places in the world.
- Solve global and commercial issues.
- Gain analytical approach to address problems and resolve effectively in real time
- Learn and implement innovative IT tools that provide integration of online with offline processing– cloud, AI, ML, Big data, Data warehouse, Data Mining, Analytical tools like R Studio, SAS, Python, Tableau, PowerBI etc.
- Gain global perspectives.
- Boost employability opportunities.
- Achieve international career and lucrative package.
- Understand rules/ regulations/ policies of both domestic and international markets.
- Study financial transactions/ methods/ feasibility on global standards.
- Understand cross cultural management and Corporate Social Responsibility and Sustainability.
- Provides significant job experience with people from global presence.
- Develop alternate and better sources of revenue.
- Create an innovative brand image.
- Utilize international financial incentives.
- Learn competitive intelligence at international standards.
- Learn how to engage and work with diverse set of people and locations.
Top Job opportunities for International Business Graduates
- Financial Analyst
- Global Marketing Manager
- International Product Manager
- Global Logistics Manager
- International Supply Chain Manager
- Research Analysts
- International Brand Manager
- Business Analyst
- International Human Resource Manager
Future Scope of degree in International Business Management
India is one of the fastest growing economies globally which has attracted many multinational companies to invest or start their venture here. Also our domestic companies are moving now international, thus opening job opportunities for international business students as they are in high demand by international trade companies, investment banks and logistics companies. Therefore, holding a degree in International Business management will be a wise choice to enjoy bright future, career and international exposure.
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