International Business specialization a guaranteed success at GIBS, Bangalore – June 16,2017
The 21st century may well be termed the era of international business, now that the world is tiring of technology. Every business nowadays appears to be going global and the internet is the reason that even villages can think globally. Mega businesses that have branches spread through the world in several countries and continents follow a different work culture compared to traditional businesses. Cultural differences make up the change as compared to narrow national frontiers. Being prepared with a variety of strategies for conducting business would be required. Knowledge of an additional foreign language in addition to English would be a necessity for a greater chance at success.
The GIBS approach
Headquartered in the advanced global city of Bangalore, GIBS has the appropriate access to multinational corporations for effective internships for trainees. Close and convenient access to major industries and businesses has made a great difference to the student culture. A challenging and stimulating urban ethos is a great encouragement to curious and ambitious minds embarking on global management careers.
The faculty and the curriculum, teaching methodology and placement unit are fine tuned to scholastic and management achievement with a highly developed learning infrastructure. The campus ambiance does reflect the world that cherishes values and wishes to mold productive citizens who would hold their heads high. Though International Business would take managers to the ends of the world, the alumni never forget their roots and the academic nest that taught them to fly.
The Global Institute of Business Studies offers the following specializations for MBA/PGPM: Marketing, Finance, Human Resource Management, International Business, Information Systems and Tourism & Travel Management. The other specializations are Healthcare Management, Small Business Management & Entrepreneurship, Retailing & Supply Chain Management and Banking & Insurance.
Young men and women who aspire to a career in business management should appraise their priorities and make specific plans with an appropriate specialization. Healthcare and Hospitality as two of the most prolific international businesses attract thousands of business graduates prepared to work in global postings. On the other hand, combining technical knowledge along with management expertise would lead to higher and senior designations in a highly competitive industry. Aspirants for rural management and agriculture management similarly would have a separate set of objectives more concentrated on their own surrounding rather than global concerns.
What problems could arise while working abroad?
Social and cultural, linguistic and religious adjustments would be necessary. Adaptability is a major worry and IB teaches some of those concerns. Working in a multicultural environment is a quality that is achieved after sustained effort. A 21st-century life does require such an internationally acceptable frame of mind. Controversies could arise when racial or religious problems arise as they sometimes do. Extremist elements have been creating problems since long, sometimes rather severe.
Other unfamiliar aspects would be dress codes and currencies, adjusting with changed monetary systems. Becoming familiar early with a foreign language, at least the rudiments, perhaps Chinese, Japanese, French or German, would go a long way to promote an international understanding. In India, people often find themselves in difficulty when they travel from one state to the other to take up jobs or study. The problem may be superficial, but it reminds of bigger issues abroad. Yet there is not much to worry about because families, organizations, and individuals may help during the transition period.
Dual degrees and exchange programs
Many institutions in India plan courses to help out with such problems. Dual degrees that are awarded by two universities, one in India and one abroad, help in such circumstances by forging international understanding. Students may travel to the foreign destination for study. Exchange programs may be costly, but bring together teachers and students in some foreign destination to work together.
An effective curriculum for international business specialization
Such currents and crosscurrents of thought would be instrumental in preparing for a career in international business. Theories alone would not suffice, but rather an intrinsic understanding of such a complex global environment. It is important to remember that the USA is made up of 33 nationalities while Canada has 23. Among Indian cities, Bangalore has the largest number of foreigners.
Besides the study of economics, commerce, finance, and management through theory and internships, case study approaches present actual problem situations and solutions are sought. Besides, solving a problem in a remote village setting in your native country would be different from situations abroad. Working in global scenarios to solve financial, organizational and marketing issues require a different set of approaches.
Communicating well is particularly important both verbally and in writing. A friendly and cooperative approach with a willingness to face problems and solve them would be the enterprising spirit. Proficiency in a chosen language like Chinese if you planned to work in China would be an asset. The business expression would get greater attention in such a case.
It can well be imagined that MNCs frequently face such issues! Sensitivity towards such cultural and community issues would be required for finer adjustment. What about professionals and many of them exist who have routinely worked in as many as 20 countries? How did they adjust? Was English alone sufficient to get through a lifetime of duties?
International business requires a willing state of mind
Management in principle does deal with sociology and political science, economics and psychology. International Business has no formal requirements. Understanding of labor and human resources besides economic structures and business processes would be an advantage. Financial accounting and marketing, microeconomics and international management would form part of the core curriculum.
Probable job opportunities would cover the import/export business, foreign currency, sales and international management consultancies. Employers could be one of the government departments and banks, the import/export corporations and multinational manufacturers. Consulting firms and international non-governmental organizations may seek your services. Electronics and transportation companies and tourism and hospitality organizations could offer prime designations. Explore more at www.gibsbschool.com