Education & Career Trends: October 29
Curated by the Knowledge Team of ICS Career GPS
- Excerpts are taken from an article published on timesofindia.indiatimes.com.
Multinational corporations, operating on a global scale, have fostered a diverse and highly competitive workforce. Such enterprises demand employees who possess a deep understanding of international business concepts and theories, as well as the capability to navigate complex international scenarios.
In India, the demand for such skilled professionals has led to a surge in the popularity of the MBA in International Business programme. Individuals with this degree typically enjoy a preference when multinational companies are recruiting new talent.
The curriculum of MBA in International Business covers the procedures and documentation involved in export and import, methods of approaching customers in foreign countries and currency fluctuations. Concepts like raising capital from the international market and distribution market are also taught. In the second year, the students can choose their specialisation in the areas of finance, marketing, supply chain management, etc.
Admission Process:
The following is the general admission process followed by most institutes/ colleges for admission in India.
- Students are supposed to clear competitive entrance exams like CAT, XAT, GMAT, NMAT, etc.
- The students who have obtained the percentile required by a particular college may have to then appear for a round of group discussion and personal interviews.
- Some of the colleges also give direct merit-based admission.
Career Prospects:
With the growth in international business, the demand for individuals to have an understanding of global markets has increased. MBA in IB can enable you to join the international market department, international placement offices, import and export departments, global shipping companies, global tourism sector, international consultancy firms and international logistics & courier companies.
There are many job opportunities available not only in India but also abroad. Some of the popular job profiles are:
- Export managers and executives
- International business consultant
- International Business Development Manager
- International Marketing Manager
- International Finance Manager
- Global Business Manager
- Export coordinator
- Account Manager
- Brand Manager
Recent Trends and Future Scope
Industry growth will continue to accelerate as more technological advancements are made. While automation is already widely used across many fields, artificial intelligence and machine learning are also transforming nearly every facet of business, including global commerce. Because of this growth, the international business job outlook remains optimistic.
International companies always strive to establish, expand and grow their business, thus, broadening the scope for an MBA in International Business. The graduates also have an opportunity to travel across the globe to implement effective strategies.
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(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)
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