As we all know International Business aims at achieving the foreign trade objectives of a country by integrating the export and import practices of various trading countries. International business operations account for production, invoicing, packing, insurance, transportation and shipping, logistics, quality control, inspection, finance, documentation, marketing, import, export, custom clearance, legislation, risk assessment, surveying, service, foreign exchange management, merchandising, taxation, research and development etc.
- Merchandise Exports and Imports : Merchandise means goods that are tangible that is those that can be seen and touched .It refers to exporting goods abroad , importing tangible goods .
- Service Exports and Imports : Service Exports and imports involve trade in intangibles.It is because of this aspect of services that trade in services is also known as Invisible Trade . Other wide variety of services include tourism , lodging , professional services.
- Licensing and Franchising : It describes permitting another party in a foreign country to produce and sell goods under your trademarks, patents or copyrights in lieu of some fee is another way of entering International Business.
International business management is one such career course that offers ample scope for career in international and transnational corporations. Candidates after completing the course may search for jobs available in the export companies, public sector houses, international banks and companies having subsidiaries in other countries. Most of the companies offer handsome salary packages along with other lucrative facilities.
International business management is one of the best Specialization as it offers ample scope for career in International & Transitional Corporations.