Globalisation has brought a sense of connectedness to markets and businesses around the world. The organisations have transcended geographical boundaries, ushering in a new era of trade, commerce, and collaboration.Today, most Fortune 500 companies have international operations at multiple locations, indicating that these businesses are tapping new markets in a bid to expand their operations, reach new customers, and increase their profits.
With businesses extending their reach to global markets, navigating the intricacies of the international business landscape has become more vital than ever. In regards to this demand, new avenues for candidates who are looking forward to international exposure have opened. However, to grab these opportunities, individuals require a blend of several skills along with an appropriate educational experience. In this context, a two-year PGDM in International Business (IB) programme presents a plethora of benefits for those who crave diverse opportunities.
Charting new horizons: Exploring PGDM (IB)
A postgraduate diploma in management (PGDM) in international business is a specialised programme that focuses on providing learners with extensive knowledge of the international business environment, trade policies, import-export functions, and more. Students are made aware of encompassing areas such as cross-cultural communication, stakeholder engagement, best diversity, equity, and inclusion practices, and ethics, among others.
There are a myriad of networking opportunities available for students with their peers, mentors, and others from other nationalities that are essential for one’s career. Students develop leadership qualities that are necessary for them to handle positions of responsibility in international organisations. Students not only become technologically competent but also learn to apply these techniques to solve real-world problems.
Overall, by developing these conceptual and analytical abilities, students are eligible to explore lucrative career opportunities. Amidst a multitude of courses to choose from, PGDM (IB) stands as a beacon of opportunities, offering myriad advantages to those who are seeking a diverse experience.
Plethora of benefits
Global perspective: In an era where economies are interconnected, this comprehensive course emphasises providing international exposure to learners. The programme delivers a diverse array of case studies to the students, which enables them to grasp the intricacies of doing business on a global scale.This perspective not only enriches the academic experience but also prepares the candidates to excel in a multicultural and dynamic market landscape.
Development of skills: In a bid to handle the roles and responsibilities in an organisation, the candidate must possess a diverse skill set, and PGDM (IB) can equip them with the much-needed adroitness.The curriculum contains a spectrum of subjects, including professional communication, sustainability approaches, ethics, innovative thinking, and more, that prepare learners to adapt to dynamic situations and ensure that they are well-rounded professionals.
Global networking: Networking aids in personal and professional development, relationship building, and acquiring competitive advantage in your sector, which is why it is a relevant skill to gain.While pursuing PGDM (IB), the students get to network with their mentors, peers, and industry experts from different corners of the world, enabling them to gain different perspectives and knowledge.These interactions foster cultural understanding and lead to the formation of a global professional network.
Development of leadership qualities: A degree in management does not only mean acquiring technical knowledge but also fostering leadership qualities.The course includes a comprehensive study of business scenarios that require learners to use critical thinking, make informed decisions, and lead teams efficiently.
This enables professionals to navigate the myriad of challenges that businesses face during expansions, trade, or negotiations. Moreover, the course also helps learners become visionary leaders who are capable of steering organisations through the intricacies of the global business environment.
Myriad of opportunities
Students who complete the PGDM (IB) can pursue their careers in international organisations in diverse roles such as business analysts, global marketing managers, and other positions. There is an enormous demand for PGDM graduates who can keep up with the current trend of massive expansion in international business.With relevant knowledge, skillsets, and networks, graduates can engage in consulting, management, finance, analysis, and commerce, which exposes them to the specific problems of international business.
Furthermore, there are additional opportunities in the import-export domains for managers, international trade paperwork, and other positions that can be relevant for the candidates.In addition, consultancies also seek professionals with international market knowledge, making the PGDM (IB) programme a lucrative avenue.Furthermore, professionals who can manage the challenges of overseas marketplaces are required for firms looking for worldwide expansion. Lastly, graduates can also pursue research positions in international business strategies that could aid them in building a strong resume.
The right education matters
Gaining specialised knowledge and abilities is critical for professional progress and success in today’s highly competitive work market, and a PGDM programme focuses on offering a full comprehension of various management disciplines in light of this.With several benefits, such as cultivating a diverse skillset, gaining global exposure, networking prospects, and developing leadership qualities, candidates can prepare themselves to handle roles and responsibilities in international organisations while gaining an edge over other potential aspirants.
However, students considering pursuing this course must select a PGDM institution that exclusively follows a pedagogy methodology comprising a blend of lectures, classroom discussions, case studies, group discussions, special sessions from professionals from industry, and more. In addition, a strong background in managerial discipline and an understanding of business in its correct context must be provided by these courses, which must be a blend of fundamental, perspective-building, tools and techniques, and functional courses.
Also, the PGDM programme must have a complementary international immersion programme for students to have exposure to international business scenarios.A PGDM in International Business offers a transformative educational experience, enabling individuals to thrive in the dynamic landscape of global commerce.With a blend of theoretical knowledge and practical skills, graduates will be poised to seize the countless opportunities that the international business arena has to offer.
(The author, Prof. Sudeep S., is an Associate Professor & Area Chair ( International Business, FORE School of Management, New Delhi)
