As our Indian economy continues to grow and surpass national borders, making inroads into global boundaries, there is a dire need to understand international business in great detail. This is where the role of an MBA in International Business surfaces. The program is designed to help equip students with the desirable skills of learning about all the commercial activities encompassing the movement of goods and services, knowledge, or capital across borders. The course holds immense potential for graduates in terms of career growth and pay packages. This blog unravels the multitude of benefits of an MBA in International Business.
What Is International Business?
International Business refers to the trade of goods, services, people, technologies, resources, and ideas across nations. This can be done in several ways, some of which include:
- Foreign Direct Investment (FDI)
- Export-import of goods or services
- Strategic global partnerships or alliances
- Franchising and licensing
- Global joint ventures
Factors Driving The Growth Of International Business
We learned above that the demand for international MBA programs in business is increasing in the industry with a proportionate increase in the sector's growth. Let us quickly understand the key factors driving the growth of international business:
1. Economic Globalization: This is one of the most propelling factors that have led to increasing incidences of international trade. The Indian economy has now turned global, resulting in a significant interdependence between nations. This has provided a special opportunity for businesses across the world to trade and thrive in the thriving global economy.
2. Trade Liberalization: Governments across the globe have become more liberal compared to earlier concerning barriers to international trade. A few examples of this include reducing quotas and tariffs for trade between countries. This has further made it easier for different businesses to engage in the export and import of their goods and services.
3. Technological Advancement: This is yet another driving factor, simplifying and enabling businesses to ship their goods at cost-effective rates around the world. Rapid advancements in technology, such as improvements in the modes of communication and transportation, have facilitated businesses to carry out trade in a much simpler and cheaper way than ever before.
What Is An MBA In International Business?
It is a postgraduate degree program that equips students with the required knowledge and skills to carry out business across national boundaries. Students learn about trade, export management, foreign policy, foreign investment, and forex risk management. They are also required to participate in projects, internships, and dissertations as part of the two-year program. Some of the key concepts covered as part of the course include:
- Cross-cultural management
- Dealing with foreign language
- Export-import systems
- International-scale hiring
- Managing MNCs
- Making strategic decisions in financial management, international marketing, and operations
Benefits Of MBA In International Business
If you’re inclined toward pursuing an MBA in International Business, let us take a quick look at its benefits for students and graduates:
1. It makes them more aware of the different cultures of different countries. This not only helps in carrying out international trade but also prevents them from making any cultural errors when starting their own global business.
2. Students learn the skill of effective communication which can be particularly helpful in international business or trade practices.
3. Students also learn another valuable skill - adaptability to different cultures.
4. The course facilitates easy networking among students with peers, faculty, and industry experts, boosting their career prospects.
5. The MBA in International Business is a globally recognized degree that allows graduates to work abroad as well.
Career Opportunities After MBA In International Business
We highlighted some of the key benefits of pursuing the program for students. Graduates are eligible to apply for prominent job roles in the relevant industries at lucrative salaries. Let us take a quick look at some of the prospective job opportunities that are likely to open up for graduates with an MBA in International Business:
Final Word
An MBA in International Business can be very helpful to students in getting a comprehensive understanding of the workings of the global trade market, export-import, foreign trade policies, and the like. This can enable graduates to either start their businesses and function as entrepreneurs in the international business arena or engage in foreign trade. If you too are inclined toward this industry, Amity University Online can help. We offer online MBA international business studies for 2 years to help students choose a suitable role in this sector upon graduation. The postgraduate degree is accredited globally and recognized by several governments and private organizations alike. Sign up for a Masters in International Business online with Amity University and take the first step in the global business scenario.
