International Business - A Stretch to Global Business
Precisely going with the meaning of the term International Business, it may be defined as the overall commercial intakes and outgoing of business and allied activities across regional as well as national boundaries. They comprise of cross-border transactions of goods, services, commodities, and resources among different nations overlooking political boundaries as well.
Modes of International Business
- Import - Export
- Travel and Tourism
- Management contracts and FDI
- Portfolio Investments
Besides there are certain sort of risks involved in carrying the operations in International Business like Political risks, geographical barriers, financial risks, Terrorism risks etc. But overcoming the risks is equally important looking into the long term aspects and beneficiaries associated with the functions carried out in International Business.
If we look into the subject matter career wise, it has a great significance for students who want to build a lucid and diverse career in the field of International market and Global environment. It makes a student:
- More aware about the interrelatedness of own country’s policies and economy with respect to the other countries.
- It helps in learning and understanding the global business strategies.
- Helps in exploring trade relationships across boundaries.
- Helps in better understanding of ample International business opportunities.
Top colleges in India
- Indian Institute of Foreign Trade, Delhi.
- Management Development Institute, Gurgaon.
- K.J.Somaiya Institute of Management Studies and Research, Mumbai.
- Symbiosis Institute Of International Business, Pune.
- Banaras Hindu University, Varanasi (U.P).
- University Business School, Panjab University, Chandigarh.
- VIT Business School, Chennai.
- Others Institutes include- BIMT-Delhi, UPES-Dehradun, NIILM-Delhi etc.
National level Entrance Exams
The fees for the courses vary from colleges to colleges nominally from 2.5 Lakhs in B.H.U to 5 lakhs in K.J.Somaiya to 12.75 lakhs in IIFT, Delhi and 18.51 Lakhs in MDI,Gurgaon.
Return on Investment
Regarding the placements and the starting pay packages there are very handsome jobs in the field that yields an average package of around 8-10 lakhs per annum if we talk about the topmost institutes like IIFT, MDI and 5-7 lakhs per annum in rest colleges with tremendous Global exposure and diversified job profiles.
The scope of International Business and its selection as a career perspective is very fruitful and it yields manifolds of widespread opportunities in the world market. Besides, it also makes a student understand the Global scenario in the field of Business.
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