Why Study International Business

As a subject of study,international business has attracted considerable attention from all quarters. The subject is taught in MBA, M.com and other management related courses all over the country and IIM has started a separate course on international business. Bangalore University is offering a masters degree and a diploma course in international business. Why the subject has assumed such wide spread acceptance all over?

1.Increasingly, companies are sourcing their human resource recruitment globally. Sony corporation, for example, has only 50% of its employees who are Japanese. The remaining 50% are non Japanese. After completing a course in international business, a boy or a girl may find himself or herself employed in a multinational business firm and working in an alien land. It is advisable that the student is taught international business-its complexities, opportunities, and challenges. Prior knowledge about global business keeps the youngster prepared to accept jobs in multinational corporations.

2.Most of the products we consume everyday are supplied to us by global businesses. The paste we use to clean our teeth, the powder we use to brew coffee, the vehicle we use to commute to the office or college, the shirts we wear, the entertainment programmes we enjoy, and the news we listen to are all provided to us at our door steps by multinational corporations. It is advisable that each of us knows where tooth paste, for example, is manufactured, who manufactures it, and how it is made available to us.

Such knowledge enables us to identify and associate quality with brand to know these brands is to understand international business.

3.It is the manager of today's business who needs knowledge about international business more than anybody else. Managing an international business is more complex than running a domestic business. Global business involves production of goods in facilities located in different countries with resources. International managers must understand the various facets of global business.

4.International business executives play a powerful role in determining the relative competitiveness of various countries in the global arena. The foundation of india's economic development was no doubt laid by the tatas, birlas and goenkas. Skills and predilictions of these people will subtly influence strategies and resource allocations.