There has been a gradual change in the esteemed, Masters in Business Administration (MBA) program. Whereas in the years gone by, it was offered as a general course the trend these days is heading towards specialised MBA degrees. Globalisation has not only affected the way people trade and move but it has also had a profound change in education .That is why universities are now offering a chance for prospective masters students to obtain an International Business MBA.
As a consequence of globalization that has increased political and economic challenges it is imperative that firms hire people who are able to navigate the complex global economic world. This is where the International Business MBA comes in. It is a course that is not restricted by geographical or political boundaries. Rather it is an MBA that gives a student the global picture and the tools that are needed to be successful. International business success requires more skills than managing a domestic company. If one is going to study this MBA one is likely to tackle terms like international Business, multicultural perspectives, transnationals challenges and opportunities, globalization and global economic trends.
So why would one want to invest in an International Business MBA? The biggest reason is that it grooms the already working manager from having a limited scope of economic activity into having a better perspective of the whole world. It also improves the decision making of the students which makes it easier to handle increased responsibility in the workplace. If you are already in the field of International Business, this can easily increase your chances of promotion at work. This translates into better earning after completion of the Masters Degree.
Getting the International business MBA actually opens up wider career options because there is an increased demand for such graduates. Many businesses are looking at expanding globally therefore there is likely to be more jobs created for graduates. So finding a job will not be difficult. There are a lot of Non Governmental Organisations, Banks, Export companies and investment companies who demand quality personnel who have a broader understanding of economies.
Most universities that offer the MBA have a set of requirements for one to be admitted and this includes the following:
A good Bachelor Degree. Necessary work experience. Some of the Universities require prospective students to write an entrance test. A good command of the English language if you want to study in Europe and United States of America.
Most Universities have core courses that are compulsory this includes Economics of international Trade, Leadership, strategic alliances and International law. There are also optional courses that you can elect for your studies. These include international Corporate Finance, International Business management, International monetary systems and International marketing. Upon completion of the degree you will have developed better decision making, management skills and a network of various students from round the world.
There are a number of ways that one can study for this MBA. You can study full time, part time and even on line. The length of the program will depend on which method you are using to study. Most full time programs can be completed after a year or two while if you study part time it can take you an average of three years. In terms of the costs it generally depends on which University you study. Usually the higher the University ranking then the more the tuition fees you are likely to pay. The total tuition for the duration of the study ranges from US50 000 dollars for the top business schools and to US20 000 dollars for the average Schools.
In this increasingly competitive world it has now become necessary for one to have a global mindset and this can only be achieved if one takes an academically meticulous and relevant education .If one studies for an International business MBA they will be taking a big step in the right direction. The results that one can achieve in the long term can be very rewarding.