Liberalisation has opened new horizons of international trade. All types of business houses are seeking to expand their operations across national and international borders. Financial institutions, consulting firms, law firms, joint ventures, and Multinational corporations (MNCs) cater to international trade. For a successful business, it is vital to understand the cultural, political and socio-economic factors affecting the global business environment. Companies are continuously demanding candidates, who can perform their global operations. From banks to manufacturing firms to government agencies, almost all industries have a need for people with a background in international business.
Therefore, job opportunities in international business are expected to grow at a faster rate. Scope of career in International Business
The professionals in international business are required by organisations involved in export-import, custom clearing houses, special economic zones (SEZs), state trading corporations, marine insurance companies, logistic companies, transportation corporations, shipping corporations, banks and financial institutions providing export-import finance & foreign exchange services, pre-shipment and post-shipment quality control labs, international finance, international accounting and international financial management, etc. Hence, there are huge job opportunities in this sector.
To work in global business environment, a candidate is required to enroll for a specialised course in International Business. International business and international marketing are taught as a part of the MBA curriculum at B-Schools across the country. A number of universities also offer Master’s Degree in International Business (MIB).
Post graduate programs in International Business cover various subjects related to trade, imports and exports, world trade rules and regulations, international business policies, business techniques applications through case studies, cultural relations and trade problems, monetary issues, etc. The students are encouraged to take complementary courses in business administration, economics, the humanities and the social sciences to expand their global understanding and to gain greater knowledge of related issues.
The course prepares the candidate to solve various complex matters such as challenges faced by major multinational corporations, analysis of the international trade and financial situation, etc. People can get the following designations in international business operations – international bank manager, international stockbroker, international financial analyst, purchasing manager, export/import manager, international marketing specialist, international product manager, international sales analyst and international loan officer.
A postgraduate in International Business from a reputed A-class institute is usually recruited as a management trainee and the salary offered ranges between Rs. 5 to 12 lakh per annum. However, a B-class business school pass-out may get a lower salary starting from 20,000 per month.