MBA in International Business - An MBA in International Business offers opportunities for those aiming to establish themselves globally. Considering the vastness of the International Business, the programme covers major economics and business terms. Some of the major topics covered in the programme are Business Communication & Negotiation Skills, Economic & Management Decisions, Financial Management, Industry Visits, International Marketing Management, Global Economic Environment, International Business Strategy and Negotiations etc. The MBA in International Business programme is aimed to produce the competent business executives/managers to meet the growing demands in the field of International Management. Read more about MBA in International Business programme and what B-schools look for in a candidate for this specialisation in the article below.
Understand the term International Business
As the term suggests, International Business refers to cross-border trade exchanges and transactions of goods and services between two or more countries. International Business has gained momentum post globalisation and liberalisation era. As Dr. Asmita Chitnis, Director, SIIB Pune states, “In a truly globalized world, no business can survive in isolation. Today, almost all companies, irrespective of the size, are affected by global events and competition because most sell output to secure suppliers from foreign countries or compete against products and services that come from abroad.”
What is MBA in International Business (IB)?
International Business is the management education specialisation that trains and imbibes skills on different aspects of business and marketing at a global scale such as National and International Business Strategy. The course is ideal for professionals seeking to accelerate a career in International Business.
According to IIFT, the MBA (International Business) is a foundational course for developing a competent cadre of business executives to meet the country’s growing requirements for training personnel in the field of International Management. As far as sectors are concerned, BFSI, Consulting, FMCG, FMCD, Telecom and Retail make maximum offers.
Some of the elective courses include:
Financing and International Trade
Global operations and logistics
International Contract Management
Managing Global Compliance in Exports
Mergers and Acquisitions etc.
Areas such as foreign languages and export management are also being taught to students. The students who are specialising in International Business can work as project managers, international logistics manager, international business consultants, among other professions.
MBA in International Business – Facts about IB
According to Ministry of Commerce and Industry, exports during July 2017 increased by 3.94 percent in dollar terms at USD 22.54 billion as compared to USD 21.68 billion during July 2016.
Imports during July 2017 were of USD 33.99 billion, which was 15.42 percent higher in dollar terms compared to July 2016.
Commodity group of imports showing high growth in July 2017 over the corresponding month of last year are Petroleum, Crude & products (15.02 percent), Electronic goods (22.5 percent), Machinery, electrical & non-electrical (7.34 percent), Pearls, precious & semi-precious stones (6.86 percent).
Sectors with high potential in International Business include Information Technology, BFSI, Retail and Manufacturing, among others.
MBA in International Business - Qualities B-Schools look for in candidates
The important qualities and personality traits that are sought after by B-Schools include communication skills, innovative business approach, domain knowledge, flexibility, adaptation and aptitude. MBA in International Business is for those students who wish to develop their strengths and career opportunities in a global context.
Prof. Manoj Pant,
Director, IIFT Delhi
Higher roles lead to higher remuneration
Careers360: What is the objective of MBA in International Business?
Prof. Manoj: ‘International trade and Business’ is the Unique Selling Proposition (USP) of Indian Institute of Foreign Trade specialisation.
The broad objectives are to relate the management concepts to business situations and help the participants to develop analytical and decision skills so as to evolve effective national and international business strategy, develop socially responsive managers for international business and help in shaping up their personality. We also aim to equip the students with career opportunities in international business..
Careers360: How has International Business transformed over the last few years?
Prof. Manoj: There has been a remarkable change in industry demand for students having domain knowledge in International Business. There is a significant shift in the focus area of companies towards global business outreach. Companies offer higher remuneration to our students. Higher roles in domains such as Marketing, Finance, Operations, Strategy are being offered to students.
Higher roles related to the global business aspect of the companies are also being offered to International Business students. Global roles are being offered by companies from diversified sectors such as, BFSI, Trade, IT/Telecom, E-Commerce, Automobile and many more.
Dr. Asmita Chitnis,
Symbiosis Institute of International Business
No business can survive in isolation
Careers360: How does the specialization prepare students for a career?
Dr. Asmita: MBA in International Business provides a thorough grounding in International Business by integrating the main functional areas through the application of strategic management. It is a specialised degree designed to develop the capabilities and skill sets of managers to work in the global economy. The career development prospects in the area of international business are enormous, principally in light of exponentially expanding international trade.
Careers360: What are some of the facts about International Business which MBA aspirants planning to pursue this specialisation must know?
Dr. Asmita: To be successful in a globalized world, students need to develop a global mindset. Studying International Business allows you to see how globalization has brought about an increasing ‘connectedness’ of businesses, markets, people and information across countries.
MBA in IB is for those who wish to develop their strengths and career opportunities in a global context. Business firms are increasingly seeking managerial talent with the skills to assess global trends and implement global strategies. The MBA IB programme will provide career enhancement for graduates seeking employment opportunities in the global economy.
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