Course Objective [MBA in Foreign Trade]
Join IICT For Career In Export Management or Foreign Trade
Are you a student looking to make a break into the leading export houses in the country or are you already in the business but would like to stay abreast of the latest in international trade?
With the opening up of markets and the dream of the Internet age, global trade barriers have been knocked down. A truly global market place has become a reality in both the physical and virtual realm. This has created immense opportunities in international trade. Indian companies, too, have become outward-looking and are adopting various strategies for survival and growth in the international marketing environment. Emboldened by favourable policies, Indian exporters are aiming at world markets with vigour and interest that was not seen earlier. With Indian meeting WTO requirements ahead of schedule, imports of various goods have been thrown open, offering opportunities for savvy businessmen.
The rapid growth of exports and imports in the country has thrown open the doors to highly rewarding job opportunities for career seekers and entrepreneurs. An international trade practitioner needs to be knowledgeable about the global trade environment, factors affecting it, rules and regulations and a host of practical issues facing the international trade, community. Professionals and businessmen who are already in the field need to stay updated with the latest market dynamics, policies and practices. For career seekers, vacancies typically come up in the marketing, documentation, shipping and packaging departments of international trading houses as well as corporate organizations with international operations. New recruits are appointed as executives or trainees in functions like export management, pricing, sourcing, costing, export market research, distribution, freight marketing, export finance, documentation, and foreign exchange.
The Foreign Trade Management course offers a global perspective and helps build a solid foundation and understanding of the factors affecting the global marketplace. It is important today that those who are involved in international trade understand the entire process from a practical, customer-driven viewpoint. The Export Management course on the Exporting-Importing Environment offers you this information in easy to grasp modules with the help of trained and experienced faculty. The course is an excellent skills-building course for the new entrant as well as for experienced exporters who would like to revisit the discipline and update themselves on the latest trends in the global marketplace. This course focuses on the concerns of practising international trade professionals and has been designed to build a sound foundation and understanding of the factors affecting the global marketplace. All of the major concepts and terminology of international trade are addressed in the hands-on activities and topic papers that form the basis of this course.
What you will learn?
As a result of the group and individual activities included in this course, the student will acquire the following knowledge and skills that can be applied to the workplace:
· Decide if you are ready to export.
· Evaluate your company’s export potential.
· Choose foreign markets.
· Select your distribution channels.
· Write your export mini-plan.
· Know your financing alternatives and payment methods.
· Obtain your export-license.
· Prepare export documents correctly.
· Pack and ship your products the right way.
Foreign Trade Management work can be divided in the following work profiles:
- Export Managers
- Export Managers work from offices to coordinate with the global traders. The job of Export managers requires negotiating sales, distribution, trade contracts and expediting payments.
- Customer Brokers
- They are intermediaries between importers and customer services. They file appropriate documents to complete the necessary formalities. They often act as intermediaries with government departments.
- Import-Export Agents
- They are contractors working for several clients. They coordinate between import-export firms and foreign and domestic buyers and sellers. They also plan the delivery of goods, see export-import tax assessment, custom formalities and act as trade representatives while the freight handling is done.
- They are the buyers of domestic as well as imported goods. For sale. They procure material in which they are dealing from the producers and suppliers to traders. They specialise in buying or selling specific goods.
- Freight Forwarders
- They are agents for exporters who are responsible for cargo movement. They are conversant with shipping facilities, freight cost, port charges, documentation charges, insurance costs etc. They are in charge of timely and cost-effective methods of movement.
- Apart from a few courses requiring +2 pass out, most of the courses demand graduate in any discipline.
- Personal Characteristics
- Good communication skills, the ability to analyse quickly, make purchase decisions, well trained in marketing, trading, finance, documentation, packaging etc.
- Employment avenues
- The following are the areas where export management students get employment:
- Export Houses, Export Department of Companies, Export promotion Councils, Export Processing Zones, Export Oriented Units, Training Houses, Star Trading Houses, Development Authorities & Commodity Boards, Cargo Clearing and Handling Agents.
- In this field there are two areas of work one can choose from, one is merchandising and the other is production. The growth and salaries are more or less the same in both these areas. In merchandising, one begins as an Assistant Merchandiser, with a starting salary of around Rs. 7,500 to Rs. 9,000, depending upon the export houses he/she is associated with. One can begin as an assistant production manager, at the same pay.
- After working for some time, one moves up the ladder as a merchandiser, and then as a senior merchandiser or as production manager and senior product manager. The salary at this level range from Rs. 10,000 to Rs. 12,000. Growth is a continuous process in this industry, it takes around 2 to 3 years to reach Rs. 15,000 + stage.