In today’s age of business, operating in global markets has increasingly become popular. Every organization is joining the race to expand its business in international markets. It boosts the company’s growth exponentially and opens the doors to enter into the global economy.
To accelerate the company’s growth, PGDM in International Business is preparing the aspirants in operating business across global boundaries. It focuses on helping them to understand the strategic planning and organisational capabilities to kick start international operations. The specialised fields in PGDM in IB include management, marketing, finance, and human resource management according to the global market standards.
PGDM in International business is equipped with skills tailored to the global environment. It helps the professionals in developing capabilities to break the international borders strategically for an exponential business boom.
Develops the ability to explore new markets
Expanding globally requires thorough research about the landscape of international markets. Before entering into any new market, companies need to determine which markets are going to suit best for their products and services. Thus, PGDM institutes prepare the aspirants in attaining skills and in-depth knowledge of identifying and exploring new markets to make a profitable decision for the company.
PGDM institutes transform the aspirants into professionals with impeccable knowledge of market research and expansion. Moreover, it develops the ability to study and analyse the potential markets for overseas expansion critically.
Knowledge of import & export
There are two aspects to entering into new markets – Import and Export. A company may want to import items from global markets at many competitive prices and sell them at a profitable price in their nation. Similarly, a company may also want to widen their reach by exporting their products to international markets. This requires extensive knowledge about the global compliances involved in exports.
PGDM in IB takes the aspirants through the critical factors involved in import and export business. These aspirants attain specialised knowledge in analysing market trends, sourcing reliable and cheap suppliers, and finding potential buyers.
Operating in a different country involves extensive knowledge of international financing. It consists of dealing with funds on a global level that helps the organization in dealing with foreign business partners. PGDM institutes produce candidates who are capable of managing cross- border transactions with customers, investors, suppliers, and lending institutions. They possess specialised knowledge of acquiring funds from sources such as commercial banks, international agencies, and FCCBs.
PGDM in IB also imparts knowledge about the factors involved in choosing the right source of fundraising for the company to operate globally. The company’s financial strength, market reputation, creditworthiness, and risks involved are the core of expanding any business overseas that only a specialised candidate in PGDM in IB would be able to evaluate.
Supply chain management
Companies operating in multiple markets require candidates with specialised knowledge in the global supply chain. PGDM institutes teach the aspirants in incorporating the operations of different countries into one integrated process to be monitored efficiently and effectively. For instance, a multinational corporation usually gets its product designed in one country, manufactures it in another country, and assembles it in the other country. Thus, this entire chain management becomes an administrative task that PGDM in IB candidates can are taught to handle successfully.
Global supply chain management affects the overall performance of the organization. It involves a lean process of manufacturing that requires less workforce, raw materials, and time. Thus, results in improved costs, reduced waste, and sustainable global business.
PGDM in IB equips the candidates in understanding the nuances of the global economy. It makes them attain specialised capabilities of transforming a domestic business into a global giant. It broadens the horizons of success while breaking geographical barriers. PGDM institutes are bringing strong candidates with significant skills in the market to trade products in other countries.
Published by Justin Schumakar