Role of International Manager
There are set of responsibilities and duties that are a key responsibility area for any business manager however when we talk about international manager the scope broadens and so do the nature of these responsibilities. International business is basically the commercial transactions that involve more than one country and is done across the border. Thanks to globalization these concepts have become reality and prevail well in the society today.
To be able to secure the benefits of large scale operations, minimize costs, maximize profits the business managers go international and across the border to secure economies of scale. This has also led to the growing importance of international management over last some years.
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Importance of International Management
It is important to understand and realize the importance of international management in today's time plus a student doing the specialization and learning this subject must know how critical it is as a learning today for business managers and the professionals.
The times of globalization and world today knows no boundaries, the international business has grown in importance so much. The expanded business and opportunity allows us to connect with the world. Companies today are not only selling goods and services domestically but also internationally making it achieve economies of scale.
Globalization today has enabled business managers and reduced trade barriers to appreciable context. Foreign direct investments which is on the basis of how much a country or a company invests in international market is important for growth of country. Lot of countries are now moving towards getting position on FDI list. Emerging markets have given rise to emerging multinationals giving rise to international business.
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Nature of International Management
International management is as we know is about the global trade ,international business. Its nature is very dynamic and focuses on geographic and market needs. It has high influence of political and local laws for each country where business is being carried out.
It needs one to have high technical and managerial competence. It has various policies impacting it like liberalization, privatization and globalization. It involves focus on near access to raw material, low cost production and improved market access and coverage.