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With
globalisation and increasing competition from MNCs and foreign competitors, all budding business managers today must be exposed to the global environment. That’s why even domestic companies insist on hiring managers having knowledge of the international business scene. An MBA in International Business gives a strong foundation in general management subjects and all the basic areas of international business during the first year. In the second year, the students choose their specialisation in areas of finance, marketing, supply chain management, HR, etc with special emphasis on international marketing. In essence, an MBA in International Business is equivalent to a normal MBA, with some additional inputs on fundamental theories and areas of foreign trade. The students specialise in the usual functional areas of finance, marketing, supply chain management, HR etc, but the courses lay special emphasis on the International Business perspective. Jobs galore MBA students have very good placement opportunities in the following areas due to the specialised training received by them. International Marketing departments of companies engaged in exports (eg: automobile companies) International placements in company offices abroad (eg: MNCs).
In export/import departments of engineering and FMCG companies. In global shipping companies. In travel houses and the tourism sector. In international logistics companies In consultancy firms A fresh graduate is usually recruited as a management trainee and the salary offered to a postgraduate in International Business Management from a reputed institute ranges between Rs.5 lakh and Rs.12 lakh per annum. For international placements the salary can be in range above this and recruiters naturally give preference to International Business MBAs for overseas postings. Course clues Some of the institutes offering an MBA in International Business are:
Indian Institute of Foreign Trade, IIFT (New Delhi) Symbiosis Institute of International Business, SIIB (Pune) Apart from these there are several other institutes offering an MBA in International Business. These should be carefully evaluated and students should be careful to avoid institutes not having good previous track record, for these do not have the necessary infrastructure for teaching IB and also cannot give placements. A student should choose an institute on the basis of good infrastructure, faculty experienced in International Business, a well-equipped library and, above all, an excellent placement track record. The institutes offer a degree/diploma in International Business and normally have a two- year residential course for the same. The course covers subjects like import/export management, international trade and logistics, international marketing, foreign exchange management, international finance, along with marketing management and financial management. Future scenario Indian exports are growing at a very fast pace and are expected to double in the next five years to reach a figure of 160 billion US dollars. This will lead to vast job opportunities in International Business. MNCs and foreign companies are coming to India in a big way and since these companies operate in a global environment, they will offer opportunities galore for International Business Management graduates. Thus, an MBA in International Business can lead to xcellent career prospects, offering jobs in both the international and domestic sectors. A word of caution though, one must consciously avoid any aversion to or bias against working in the domestic industry. Often those opting for specialisation in International Business do so with a preconceived notion that they would be working only for MNCs and that too preferably in a posting abroad. It is not wise to take this for granted, as job offers with an international profile may not be the general rule and are often linked to market conditions. The student should have an open mind and flexible approach to performing successfully both in the domestic and international environments.
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