In today’s world of globalization, where opportunities are extensive and manifold, every business demands expansion. The relentless competition in the domestic market and increasing need for business sustainability has forced organizations to search new markets in the domain and optimize their profitability. As a result, there is a massive growth in the domain of international business. However, attempting to trade beyond the domestic boundaries is not a walkover. Companies have to practice out-of-the-box business procedures and strategies that help establish their presence in the worldwide market. This is where the demand for international business management enters the scenario. Individuals specializing in international business management are highly sought-after by big companies nowadays to guarantee organizational advantage and business development in the foreign grounds.
To become successful in business, students need to develop a global business mindset. If you want to understand the distinct business management practices in the worldwide market, a Master’s in International Business is an ideal option. So what makes this degree gain popularity recently? Does it hold good career prospects? Let’s delve deeper into knowing the scope and prospects of this management specialization.
MBA in International Business Management:
MBA in International Business is a specialization postgraduate programme that imparts the students with the essential know-how, skill sets, and training that enables their transformation into efficient managers who can successfully work in the global economy. The program provides students a better insight into the contemporary global business environment and helps them learn to see how globalization has given rise to increased ‘connectedness’ of businesses, markets, and people in the international arena. Apart from business management concepts, an in-depth knowledge and understanding of global markets is essential to take advantage of the wide range of opportunities in the global business world and this is what exactly this program does.
For those big companies that want to internationalize their business operations or carry out cross-border mergers and acquisitions, there comes the need to align with the global environment and adopt strategies and trends that can withstand strong competitive conditions. Individuals specializing in international business management are considered the key asset for these companies to get through the international market. As a result, there is a buoyant demand for international business postgraduates who can improve business performance by competing in the global marketplace, and generate and innovate ideas to handle international challenges successfully.
International business studies give students a better insight and knowledge about world cultures and business community, which is indeed a treasured skill for business experts worldwide to manage and tackle multiple markets. So with a postgraduate degree in international business management, you can create a niche in the global world of affairs as this management specialization program would give you all the essentials to develop strategic plans for international operations.
The development prospects of international business are colossal and so is the scope of this international business management specialization. On completing a Master’s degree in international business, you are open to a series of career choices. Rather than just an MBA, a master’s program in international business qualifies you for more prestigious career opportunities, in a variety of sectors, across the world.
With the international trade expanding exponentially, MBA graduates having a PG degree in international business have ample opportunities, both in the private and the government sector organizations. The nature of work in this specialization includes working for Indian or foreign MNCs in business division, import/export departments, global logistics companies, international consultancy firms, international courier companies, and global tourism sector, among others.
When it comes to starting a career, the opportunities are wide. You can take on roles in a foreign country MNC or in the domestic market handling the export-import domain or other service departments. Some of the most common career roles that you can choose upon completing international business management are those of a Management Analyst/Consultant, Export Coordinator, International Business Development Manager, International Finance Manager, International Trader, Finance Controller, etc.
After completion of a two year fulltime program, from a reputed institution, one can expect an initial salary ranging anywhere from 5 lakh to 12 lakh per annum depending on the designation. Furthermore, there is also a good opportunity to find a career in abroad and earn a lucrative salary in foreign currency. With few years of experience and improved skills development, you can reach a higher position in the sector.
Keeping in mind the growth of international business and the demand for individuals in this specialization, a postgraduate degree in international business management is currently considered the most viable option to pursue. With the scope and opportunities for international business graduates increasing in the global market, pursuing this management program from a reputed institution matters a lot.
Having said that, J.K. Lakshmipat University, one among the top 10 MBA institutes in North India, stand stall as an esteemed institution offering pinnacle MBA program designed by experts from various management studies and industrial niches to offer the students the right blend of academics, experimentation, and experience. The multidisciplinary curriculum with focused mentorship for personal and professional development of every scholar, experiential project-based learning, along with expert faculty from industry and academia, offer a unique learning experience for students.
The MBA program at JKLU with a specialization in International Business Management is structured to instill the students with core management concepts and strategies based on international business operations. The program focuses on the aspects of innovation, business planning, business ethics, organizational behavior, supply chain & logistics, network businesses, collaboration, and entrepreneurship. It also implants in the students a better understanding of the global economics, politics, and sociology to contextualize the business environment in an efficient way.
No doubt, there is an increasing need/demand for MBA graduates not only in India but also abroad, and particularly the scope of MBA in international business is much more demanding and vast. With the international business management program at JKLU, students are enabled to arrange, execute, and manage international business operations with efficiency. By introducing innovative learning concepts and imparting critical skill sets to the students, we, at JKLU, have reimagined and reinvented education to prepare students for the progressive 21st century, and thus strive to shape them into future ready professionals and global leaders in the international business domain.