Who is an International Business Development Manager?
Most larger companies have connections and conduct business internationally. They have teams in each country and have a liaison at the head coordinating with international teams. An international business executive manages these teams and ensures the teams are working based on the strategic international planning of the company.
International business executives juggle multiple teams, handling and coordinating between logistics, marketing, and accounting. They perform the juggling act of managing employees across countries and from varying cultural backgrounds.
They must be aware and sensitive when it comes to the culture and ways of business management in different countries and adjust the company's marketing and business plans accordingly.
What is an International Business Development Manager’s Job Description?
An international business development manager's roles and responsibilities include:
1. Working with management to strategise, create and implement campaigns for an international market.
2. Follow through with international campaigns, meetings and business dealings to ensure they are running smoothly.
3. Regularly liaise with teams internationally to ensure that the company's best interests are being represented.
3. Collate data about the risks of new international ventures and create a risk management document to present to management.
4. Conduct market research to identify international opportunities for the company.
5. Develop business relationships with producers and distributors abroad.
6. Be up to date with labour laws, international laws, and practices and ensure that business dealings and strategies are legal.
An international business development manager must have certain skills to be successful at their job:
1. Good Communication Skills
An international business development manager's role is primarily working with people and teams across the globe. As a result, they must have good communication skills.
2. Leadership Skills
As this is a managerial position, an international business development manager must be a good leader and be able to guide his team effectively - be it at the head office or with teams abroad.
3. Cultural Awareness
International Business Development managers work with teams and companies across the world. They must be culturally aware and understand the nuances of working with people from different cultural backgrounds.
There are many benefits to getting into the field of international business development. Some of these benefits include:
- A lucrative salary package, especially for those who have done an MBA in International Business.
- Availability of jobs as it is a specialised role which is high in demand.
- Offers an opportunity to climb the corporate ladder and reach a management position.
The scope of salary for an international business development manager in India ranges from ₹4.4 Lakhs per annum to ₹25 Lakhs per annum. The average salary of an international business development manager in India is ₹10 Lakhs per annum.
How to Become an International Business Manager
There are several levels at which an interested candidate can get into the field of business development management. To begin with, they will need an undergraduate degree in the field of business/economics/marketing. Following which, they can complete a postgraduate degree in the same.
However, for those looking for roles to work with international clients, it is recommended to get an MBA in a specialised subject such as an MBA in International Management.
The degrees an interested candidate can get include:
- Bachelor of Commerce (B.Com)
- Bachelor of Business Management (BBM)
- Bachelor of Business Studies (BBS)
- Bachelor of Management Studies (BMS)
- Bachelor of Business Administration (BBA)
- Bachelor of Arts in Economics
- Master of Commerce (M.Com)
- Master of Business Studies (MBS)
- Master of Business Administration (MBA) in International Business
- Master of Marketing Management (MMM)
The admission process for the above courses are chalked out below:
Colleges at a postgraduate level offering an MBA in International Business have entrance exams for admissions. Some of these exams are:
- Common Aptitude Test (CAT)
- Xavier Aptitude Test (XAT)
- Graduate Management Admission Test (GMAT)
- Symbiosis National Aptitude Test (SNAP)
- Narsee Monjee Institute of Management Studies Management Aptitude Test (NMAT)
- Common Management Admission Test (CMAT)
Subjects Tested in Entrance Exams
The subjects tested in the entrance exams above include:
- Language Comprehension
- Mathematical Skills
- Data Analysis and Sufficiency
- Intelligence and Critical Reasoning
- Indian and Global Environment
Top Colleges for Degrees to Become an International Business Development Manager
- Shri Ram College of Commerce (SRCC), New Delhi
- Narsee Monjee Institute of Management Studies, Mumbai
- Loyola College, Chennai
- Symbiosis Institute of International Business, Pune
- Indian Institute of Management (IIM), Ahmedabad
Specialisations in the Field of International Business Development
The field of international business is in itself a specialised field. As a result, there are no further specialisations an interested candidate can pursue.
1. Which fields require international business development managers?
The top industries hiring international business development managers include retail, pharmaceuticals, and telecommunications.
2. What is the average salary of an international business development manager in India?
The average salary of an international business development manager in India is ₹10 lakh.
3. Which stream should be studied in 10 +2 to become an international business development manager?
Ideally, students should study the commerce stream in their 10+2 to become an international business development manager.
The fees for various courses in India to become an international business development manager are:
Banks across the country offer students loans for their higher studies with interest rates as low as 7.5%. There are also organisations such as Propelld offering 100% digitised private student loans.