Degree in International Management for a Rewarding Career

Introduction

Technological advancements, especially in communications and transport as well as the rising global financial integration resulted in the emergence of a new era of international business. Furthermore, rapidly evolving Internet technologies and E-Commerce led to an increase in the number of enterprises that enjoy extensive presence across worldwide regions.

Management of a business enterprise on a global scale involves expert handling of international clients, dealing with foreign regulations, compliance with environmental standards and demonstration of key business acumen.

International Management – An Overview

With increasing globalization and gradually disappearing economic boundaries substantial number of companies have initiated operations in the global business environment. These international players leverage innovation, business prowess, research capabilities, resources and a mix of strategies to stay ahead in the competitive global front.

Enterprises from a broad range of industries such as banking and financial services, manufacturing and retail, pharmaceuticals, logistics, transportation and technology continue to foray into international markets. Additionally, international non-government organizations (NGOs), government agencies and environmental organizations operate in international business.

Companies operating in the international business environment face certain challenges and complexities in terms of adaptability to cultural differences, laws and customs and impact of local political and economic environments.

Also, the international business environment is highly uncertain and constantly changing.  Unlike domestic players, businesses operating on a global front should deal with additional specific parameters such as foreign legal framework, varying rates of inflation, foreign exchange markets and environmental issues. Businesses need qualified consultants to address those specific challenges constantly.

Career in International Management

The rapidly expanding international business management arena offers an exciting array of career opportunities across the fields of economics, finance, marketing and human resources management (HRM). Additionally, companies seek to recruit research, marketing and management professionals to monitor and analyze global market trends, evaluate performance indicators as well as to ensure compliance with international regulations.

Businesses operating in a foreign land seek to recruit qualified professionals with exceptional leadership skills. Attributes such as adaptability to new technologies and knowledge of local laws and regulations are an added advantage to people working in foreign regions.

Dynamic candidates with interests in business and travelling would find a career in international business very challenging and lucrative. Pay packages however, would depend on the area of specialization, experience, type of business, the country and the employer.

Courses to Pursue

Several universities, colleges and business schools offer courses in international business management. All the courses primarily focus on the worldwide business environment and include three basic types.

Bachelor’s Degree in International Business

The bachelor’s degree is a 4-year academic course comprising 3 years accelerated course and 1 year internship.  A bachelor’s degree is the minimum qualification and a candidate with graduate degree can seek entry-level employment in the international business arena.

Master’s Degree in International Business

The master’s degree is a 2-year professional course that allows a candidate to achieve specialization and seek opportunities across advanced managerial positions.

Doctorate Degree in International Business

A doctorate degree program is a lengthy course and allows a candidate to excel in a chosen area of specification.

A Master’s or Doctorate in international business would allow aspiring candidates to apply for various key positions within customs compliance management, international economics, international banking, management consultancy, corporate finance, investment, business development or marketing management depending upon their area of specialization.

A Degree in International Management – Key to Rewarding Career

A degree in international management allows students gain a comprehensive understanding of global business in general. Students can gain insights into business operation models, management practices, project development and strategic management. Additionally, students get practical exposure, technical expertise and essential soft skills.

Today, international business is renowned for challenging jobs, key placements and significant pay packages. Hence a degree in international business is regarded as one of the most competitive with potential to seek placements with leading business houses across the world.

Few Pointers

Prior to joining any course, students need to consider few things such as the reputation of the institute, internship opportunities, teaching quality and most importantly tuition costs. Most of the international management courses are very expensive and one needs to seek financial aid.  Study loans allow students to finance their business education with convenient repayment options.

Furthermore, students should first decide on what business specification interests them, type of job they prefer and the extent of travel they are comfortable with. Additional skills such as fluency in one or two foreign languages, critical thinking, ethics, problem solving and a friendly demeanor are just the key ingredients for a rewarding career in international business.

Conclusion

International business is multi-faceted with numerous career options. Major companies across the world owe their success to the knowledge, cultural sensitivity, negotiating expertise and compelling business skills of their qualified employees. The market is huge with great potential for career growth. Aspiring individuals also get to live in foreign countries, interact with people from different cultures and explore new areas of growth through constant learning.