Business across continents

With the scene pointing towards improvement and development every day, foreign trade as a recognised profession has come of age. GEOGRAPHY has become history now! A global village is no more a far-fetched dream. The world has shrunk and barriers to technological advancements are being overcome at a faster rate than before. With growing globalisation, business and interdependency of world economies, international business knowledge is becoming increasingly important in the business world. With the scene pointing towards improvement and development every day, foreign trade as a recognised profession has come of age.

Work

Given the rapid expansion of world trade and investment, the outlook for graduates who have globally oriented training in business is very bright. Professionals are employed in buying houses; export units and the international departments of multinational companies.

Typical employers are banks and securities firms, import/export companies, consulting businesses, electronics and computer companies, multinational manufacturers, port services, courier, airlines, cargo and steamship lines, government agencies and international organisations involved in promoting international trade, foreign direct investment, and economic developmentandinternational business law.

People involved in the import and export industry perform a wide range of functions, ranging from production, billing, invoicing, transport, shipping, marketing, documentation, co-ordinating activities etc.

Entry level

Research analyst or staff consultant

This position requires the ability to interact with decision- makers by providing background data on new business opportunities (foreign environmental screening and international market research). Familiarity with a foreign language and international business practices will be an asset. A functional concentration in business finance, marketing, e-business and information technology would improve an individual's chances of obtaining this type of position.

International Trade Documentation Specialist / Global Sourcing Specialist

This person locates sources of supplies (components, raw materials) and prepares import or export documents for transportation to intermediary companies such as freight forwarders or customs-house brokers, and for commercial banks to ensure compliance with foreign government regulations. Training for this position requires knowledge of specialised legal regulations, a foreign language, international trade credit practices, and business customs in other countries.

Marketing Representative

This position is specifically for the generation of sales for manufacturers or service companies. If the representative works for a company that has international marketing activities, the representative may request international marketing responsibilities such as the development of relationships with agents, dealers, distributors, licensees and/or strategic alliance partner firms in other countries. A concentration in marketing is a helpful complement to an international business major for this type of position.

International Finance Officer or Currency Dealer

This person deals with foreign exchange, export and import financing, and trade documents, and helps companies fund global activities. The currency dealer speculates in the foreign exchange market to profit from fluctuations in exchange rates. A double major in Finance or Accounting would be an asset.

International Human Resource Management or Training Consultant

Preparing managers for an overseas assignment: recruiting, training, compensation, assessing living conditions abroad are some of the job responsibilities of this post.

As a HR person, you will also be involved in preparing employees for overseas assignments (helping them deal with cultural shock).

An interest in people-development and teaching is an asset. A major in Human Resource Management, proficiency in a foreign language, and an area study are added competitive advantages in obtaining such a career opportunity.

Qualifications & Responsibilities

Besides a graduate degree in the subject - Business management, International business, or Strategic management-from a better- known university, technical knowledge of some kind is essential. You must be well grounded in a specific functional business area.

Duties and responsibilities include:

Finding and evaluating foreign customers and distributors

Negotiating and preparing contracts (like price quotations)

Dealing with activities such as shipping and transportation, letters of credit, port authority and customs

Locating foreign markets

Occasionally, visit foreign markets to discuss business strategies with foreign partners and distributors

Maintaining and enhancing customer relations/service and finding low-cost foreign sources for products and components

You must also be prepared for an assignment to a subsidiary or joint venture operation overseas.

As a new employee you will be expected to be thoroughly familiar with the domestic operations first before being considered for an international position.

Clues & cues

A career in international business can mean anything from sitting at a desk in your own hometown or globetrotting around the world.

Leadership ability, area expertise and foreign language proficiency are a must.

Aptitude and ease of adaptability, cultural empathy, appreciation of new management styles and understanding of environmental constraints will help ease the pressure of a high profile profession.

You should be willing and interested to travel and work abroad.

Communication skills are mandatory while critical thinking, analytical skills, decision-making, time management, understanding cultures and cultural diversity and creative thinking should be your forte.

As international business becomes increasingly important, opportunities for employment continue to expand.

The possibilities are limitless for those seeking to understand today's global business environment.

Padma

padma.hyd@cnkonline.com