International Business & Law
The very aspect of globalization is to ease the cross-border trade thus opening new markets for goods and services. However, with different local taxation, legislations, market dynamics, laws, and political aspects in various countries, conducting international business needs knowledge on global business management. This field is gaining prominence with more and more Indian companies expanding their operations in to offshore markets through acquisitions or expansions. This field covers forex risk, trade policies, export and import management, global economics, etc.
Career Options
Below listed are the major careers one could pursue in the field of International Business & Law, followed by required qualifications, career path to adopt, expected salaries, local and global demand and list of Institutions that are offering relevant courses.
- International Marketing Manager
- Foreign Policy Advisor
- Import / Export Expert
- Foreign investment analyst
- Trade representative
What You Need To Know
This career needs exposure to international business practices, policies and market trends. In the world of globalization with expanding organizations new markets cross boundaries are always been the targets. It needs trained professionals who could understand various markets, policies and economy thus guiding the organizations to prepare and executive their expansion strategy. This career field is picking up in India where our manufacturing and service sector expanding its operations beyond its shores.
There are formal bachelor’s and master’s degrees offering institutions however it is important to pick one that has reputation and affiliation with foreign universities. It is also important to read extensively on the economies, markets, WTO, policies etc to keep yourself abreast of things. It is also associated with law and policies and hence you would find cross-domain expertise in this career field. Reading and understanding the contracts, drafting them, churning numbers, making presentations, etc would be part of daily work.
Understanding the cultural aspects and working hours of the targeted market would help in achieving the desired results. Learning foreign languages would also be of advantage in case English is not widely used in the targeted market. You should have flair to get along with people and make yourself comfortable in new situations. Apprenticeship or training with professionals in this field would give you overview and basic skills.
Qualification
Bachelor’s or Master’s degree with International business management as specialization. There are also certification program which would be completed after you B.B.A or M.B.A. This field could use cross functional domains such as B.B.A M.B.A along with legal expertise. Hence you may find professionals with law degrees working on contracts or reviewing them.
Skills
Detail oriented, Team player, Writing and Speaking skills, Analytical skills, Extensive reading, Numerical skills, Foreign language.
Expected Salary
For a starter, the package could be around 5L – 10L, depending on the institution you passed out from and relevant exposure. However, this career is associated with perks and target linked incentives that would be very attractive.
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