In today’s fast globalizing society, business knows no borders. It has developed from a localized exchange of goods and services to a fast-paced, full-fledged network reaching around the globe. At this moment is when international business management becomes necessary, as it provides an individual with the knowledge, frame of mind and capacity necessary in order to understand and ‘manage’ business operations across national boundaries.
At the FORE School of Management (FSM), we see understanding international business as essential to success, and no longer optional. We prepare students for the challenges and opportunities of operating in a global context through our comprehensive PGDM in international Business.
What’s International Business?
Due to the complexity of standing in a temporary position (it had a job, but didn’t go anywhere), international business can be simply described as the transfer of goods, services, technology, and capital across the countries and regions of the world. International business is trade and investment activity between companies, governments, and individuals around the world.
However, global business is also more than just exports and imports. Global business also refers to joint ventures, licensing, franchising, mergers, and strategic alliances. It is about combining all of these business elements into a complex but profitable ecosystem of expanding, innovating, and competing in a global marketplace. International business management explores how such systems work and more importantly, how to make them work.
Why Understanding Global Business is a Must
In today’s world, understanding global business cannot be overstated. National economies today are highly interconnected, and a choice made in one country could severely impact industries, currencies, and supply chains everywhere. For business professionals, this means understanding how global markets operate and how global business trends can impact business practices.
An international business course develops this understanding of global business. It develops global trade law, finance, supply chains, and cross-cultural communications among other global factors. With globalization expanding every year, organizations increasingly seek professionals who can think globally and build sustainable strategies that maximize profit.
At FSM, our programs focus on blending academic learning with real world experience. Students work on projects, internships, and seminars that allow them to experience the scope of global business, enabling students to be job-ready and globally aware from day one.
Types of International Business
International business occurs in many different forms, each with its own opportunities and complexities. It is important to study and understand these different forms as you select your way to enter and/or grow within global markets.
- Export & Import: The oldest and most commonly recognized form consists of trade, where goods and services cross borders.
- Licensing & Franchising: Allowing a foreign company or individual to use your brand, product, or process in return for an up front fee, and/or royalties on an ongoing basis.
- Joint Ventures & Partnerships: Where a local business company collaborates to share costs/resources, share risk, and share profits, in the international marketplace.
- Foreign Direct Investment (FDI): Establishing an office, or legally constituted subsidiary, or to establish manufacturing in another country.
- Strategic Alliances or Management Contracts: Collaborative agreements of companies sharing expertise and resources to share expenses, in order to pursue their mutual interests and or objectives.
Any and all of the forms described will require strong market analysis, understanding of regulations, and ability to communicate across cultures. All of which you will learn in our PGDM in international business at FSM.
Key Features of International Business
International business has its own core characteristics distinct from domestic business activities.
- Cross-border operations: It involves work involving more than one country and operates in various political, legal, and cultural environments.
- Global competition: Businesses compete in their local and global markets and are often forced to innovate and differentiate themselves.
- Cultural diversity: People and the processes involved with business across cultures require adaptions to and respect of those cultures.
- Uncertainty and risk: Operations are frequently affected by exchange rates, instability in politics, and differing trade policies.
- Technological integration: Failure to utilize technology in some way prevents any organization from tapping into the advantages of distance, and technology itself.
FSM’s international business course highlights these key aspects, provides students with substantive/practical knowledge, and helps further develop habits of engaging global strategies.
Why Select FORE School of Management (FSM)
FORE School of Management, established in 1981, has developed a reputation for academic rigor and relevance to business. FSM is one of India’s premier institution of learning for a PGDM in international business and develops knowledge of what function best for global markets.
Experiential learning is at the core of our international business management program. Students engage in live projects, cross-border collaborations, and research projects that will develop their global viewpoint. The value of the program is in the combination of their learning experiences in the classroom, the practice of applying that knowledge to the real world, and in mentoring by faculty who have experience working in the international business community.
FSM’s focus on leadership, innovation, and ethics enables online business management to be one of the most trusted options for pursuing an international business course in India. Today, many of our alumni are leading organisations globally, managing international projects, and directing and influencing trade and policy across borders.
Your Global Journey Starts Here
The world is changing more rapidly than it ever has before, and success relies on your understanding of global business practices. Studying international business management creates this educational opportunity for you. The program creates a foundation for you to lead across cultures, assess trends and changes in the world, and identify cricket opportunities that leverage your home market.
If you are ready to elevate your career, review the PGDM in international business at FORE School of Management. The international business management program creates an exposure to the international scene, strategic learning, and a global view to your career opportunities.
Take action today! Apply to FSM, and get ready to lead in the global business landscape.