“International Business is a study that encompasses all fields related to international operations.”
Before venturing into the scope of MBA in International Business, you need to understand that we are now in the era of globalization wherein organizations are able to influence the market conditions on an international scale. To be able to stand on a global platform, organizations have become extremely dependent on foreign nations for many reasons. To make it simpler, a company may find it difficult to make profits if it is purely indigenous. For example, a car manufacturing facility in India may find that although labor is cheap, the cost of technology and resources bypass the budget. Ergo, it may face the need to import certain parts like batteries to cut down the manufacturing costs and outsource certain processes like the manufacturing of engines.
A candidate with a degree in International Business will have the responsibility of such dealings. The goal of the candidate is to improve the performance of the business in a swiftly changing global market.
The career opportunities for an MBA (IB) is ample in both private and public sectors. IB is a combination of finance, marketing, and HR. They are basically the core fields in which you can specialize in. A career in this field will provide you with a global exposure showcasing the stark differences in culture and workplace ethics. Apart from that, you might also have the opportunity to qualify for better prestigious positions like that of CEO.
Course Structure of MBA in International Business
An MBA in International Business (IB) is a 2-year course and is offered by Lovely Professional University. The 1st year of this course covers the basics of all the main streams like Marketing, HR, Finance, Accounting, Economics, Operations, Research etc. The last 2 semesters will be dealing with core specialization subjects of IB like
- Foreign Trade Policy
- World Trade Organisation
- Export and Import Management
- International Trade Logistics
- International Economics
- International Marketing.
In order to boost and kickstart your career in International Business, apart from the stated courses, certain online professional courses can be extremely useful for understanding foreign customers, currency fluctuations, FOREX etc. Also attaining fluency in a foreign language might come in handy since the job involves traveling abroad. To further encourage you, foreign language classes are conducted in the premises of the university. German, French, and Chinese are the three languages that are being taught. Currently, applications are being invited and you are advised to check LPU UMS announcements for detailed information.