Gauri Chhabra
Prime Minister Narendra Modi’s recent visit to Silicon Valley gained a lot of traction with the business community both in India and the US. The basic thrust was to attract foreign investments and to uplift the business climate in India so as to bring about an ease of doing business.
Ease of doing business:
Quelling the skepticism of the business magnates of the USA, Mr Modi said that concerted efforts would be made in the direction of easing business in India. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Today, the World Bank ranks India 134 out of 189 countries in its annual ease of doing business. Modi has promised to ease business and speed up decision making process in terms of taxation and other issues and therefore move the rank up. The change in the Companies Act, to allow loans from Directors family, is a welcome step that will boost the setting up of start- ups.
This creation of this eco system would bring about a surge in demand for professionals in International Business.
Getting in:
You can get into International Business by earning a Bachelor’s degree in International Business and then graduate to earning a Master in Business Administration (MBA), a highly respected advanced degree that indicates a commitment to leading in the field. Your master’s will usually take one to two years to obtain. Another advanced degree option is the Master in International Management (MIM), which focuses almost exclusively on issues related to International Business.
Institute scape
*University Business School, Punjab University, MBA in International Business.
* Indian Institute of Foreign Trade, IIFT , Delhi offering MBA In International Business(MBA-IB), Executive Post Graduate DiplomaIn International Business(ExePGDIB)
*Aligarh Muslim University, Masters in International Business Management
*Birla Institute of Management and TechnologyBIMTECH , Post Graduate Diploma In International Business(PGDIB)
*MDI Gurgaon, Masters in International Management.
Career Pathways
If you opt for a career in IB, your typical employers would includebanks, import/export corporations, multinational manufacturers, consulting firms, international nongovernmental organizations (NGOs), electronics and technology companies, and transportation industries like shipping and airlines.
Common job titles in international business include:
Import/Export agent
You would be an intermediary, facilitating the purchase or sale of products between domestic and overseas companies. This is a diverse field, however, and responsibilities tend to vary considerably based on the role the agent occupies in the supply chain and the type of company for which you work.For agents who work for Export Management Companies, job duties may include arranging foreign distributers, advertising and marketing a product overseas, shipping the product and organizing budgets and invoices, whereas if you work for an Export Trading Company you would be required to do market research to gauge demand for specific products, as well as sales pitches to both domestic and foreign companies on the benefits of engaging in trade.
Foreign Currency Investment Advisor
A Bachelor’s degree in Commerce and an MBA in International Business can land you a job of Foreign Currency and Investment advisor where you would advise clients on international transactions and investments. You would help firms inflate their bottom line in currency markets by monitoring fluctuating currency values, while moving investments among them. These professionals use their technical and quantitative analysis skills, and knowledge of global economics to achieve organizational objectives.
You may be employed by firms specializing in banking, investments, and other financial services. They may work for investment fund managers, or commodities and futures commission merchants. Foreign currency and investment advisors may also find positions with multinational manufacturers, international consulting firms or import/export companies.
Global Supply Planner
Global supply planners practice business analysis on a global scale. In addition to the usual profit/expenditures considerations, global supply planners must also factor in global resources. They take a central role in organization, coordination, and project management across not only multiple departments, but also multiple countries. In the process, global supply managers must meet with all levels of multinational business operations, which often means a need for fluency in foreign languages and expertise in different business models.
Corporate Accontability and
Communications officer
The Communications Officer supports the development of communications products to support and better communicate the company’s mission, Programmes, projects, products and advocacy positions. You would targets a series of external and internal audiences and stakeholders, including the media, and assists in the writing of products to convey Transparency International’s messaging and position.You would reach the different target groups besides being able to work with global teams to lead the media and social media work, and drive for greater accountability from companies that are not responding to allegations of abuse in their operations or supply chains
International Marketing
If you are interested in Marketing, you can specialize in product development or market research and communicate with international partners. You would be responsible for maximizing their firms’ international market share and profits. Global marketing requires being aware of global market trends and developing products that meet international demands. You would also establish competitive and profitable pricing strategies.
Corporate Auditing and Financial Consulting:
If you have an accounting degree coupled with a degree In International Business, Corporate Auditing and consulting would be an ideal option for you. You might need to travel to different locations for either financial or information technology needs. That in turn requires travel to be at the client’s work site and see what problem needs to be resolved. You would be required to examine financial records to check for fraud or waste and to ensure that individuals, companies, and government agencies are in compliance with tax laws. You would work internally in private companies and as public employees at all levels of government, investigating and examining organizations’ financial records in a variety of industries, including finance, manufacturing, and management.
International Trade Manager
You would responsible for overseeing all aspects of a firm or government’s trade negotiations and policies – or just a certain segment of trade activity. Becoming fluent in one or more foreign languages would improve chances of nurturing a prosperous network of future business partners. It could involve generating export sales leads in a foreign country for a stateside manufactureror cultivating overseas contacts with both trade officials and industry leaders is the cornerstone. It could also involve securing overseas products or services for domestic import and sales.
You may become an international trade manager for a firm that invests in certain kinds of products or services for import, export or both. For example, the oil industry could employ such an expert to secure an overseas market for the oil it produces. Other companies may be broader in scope, calling on trade managers to find any import or export arrangements overseas that could turn a profit.
Foreign policy advisor
This is a tangential field that includes political scientists, lawyers, economists, and other social scientists with expertise in how countries relate to each other politically, socially, and economically. Foreign policy professionals conduct research and use their findings to advise the government and other institutions on international issues, such as trade, human rights, global food supply, energy, and the environment.
Many foreign policy advisors choose to earn M.A., Ph.D. degrees in the more general fields of political science, history, economics, sociology or law.
Summing up
In a nut shell, if Modi’s grand vision of ‘Make in India’, the changing demographics of world economies, widening middle income consumer base, andever growing young consumer population is anything to go by, it would definitely pave the way to an easier Indian turf for doing business thus rippling a spurt of new faces and careers in International Business.
For queries contact gauri_nagpal @yahoo.com
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