The next time you walk into a McDonalds for a bite, switch on a Sony flat LCD or drive a Toyota car, do remember that these products are available due to a multitude of global transactions that bring these products to your doorstep. A simple term to describe these global transactions is 'International Business'.
International Business includes all commercial transactions that (finance, sales, logistics, transport) that take place between one or more countries. It is especially important to study International Business if you wish to work in multinational or transnational corporations. In essence, an MBA in International Business is equivalent to a normal MBA, except that it has additional emphasis on fundamentals and theories of international business.
Various Aspects of Study in International Business
Working in International BusinessA fresh MBA graduate is usually taken in as a Management trainee in International Business. He can then rise on to the traditional Management levels of the organizations. The salary offered in International Business is high depending on your area of specialization and your experience. However, students should bear in mind that a specialization in International Business does not necessarily mean that you would be working abroad. Job offers with an international profile are not a thumb rule and at times the companies might even want you to work in your country to set up or expand their operations.
Skills RequiredBesides the skills (analytical, problem solving, time management etc.) that would make you a good manager, you would require the following:
The future holds extensive job opportunities in the field of International Business. However, these opportunities are more in developing economies rather than in developed ones. MNCs, all over the world are searching for new markets to expand and they are choosing countries like India, China and Brazil. Irrespective of this, International Business is the very essence of globalization.