- Designed to give rise to future professionals rather than mere 'degree holders'.
- Useful for students having an aspiration to make a career successfully in the domestic and international markets with freight forwarders, C&F agents and reputed export houses.
- Understands the needs of the industry where the students would ultimately find employment
- Completely different approach to learning.
- With the industrial liberalization and globalization scenario and emphasis on global markets, there is a great scope for job opportunities as well as entrepreneurship in international business in the products (including Agri products) and services sectors.
- Great scope also exists in international logistics, supply chain management, transportation and distribution.
Current Scenario of International Business in India
During the last two decades the world has witnessed a sea change in the international trade practices, processes and behavior. Liberalization has opened new horizons of international trade for its huge potential market and has also opened vistas of foreign markets for its diversified product line. Though India’s foreign trade constitutes only 1% of the total world trade, the volume and diversity is significant. In 1991, when the new economic policy was introduced India’s export was merely $ 18 billion which surged to about $ 300 billion by the year 2013.According to an estimate, 50% of the GDP is due to export and import. India's total share in goods and services trade was 0.92% in 2003 which increased up to 2.04% in 2013. Studies have revealed that nearly 20 million jobs were created directly or indirectly as a result of augmented exports in the last five years (i.e. from 2008 to 2013). Also the EXIM (Export Import) policy provides for an export growth of 15% thereby increasing the share of world trade to 2.5% from the existing 1%. For achieving this objective, the Government has strengthened the foreign trade policy and set up Export Processing Zones (EPZ), Special Economic Zones (SEZ), dry ports for facilitating export and imports, exemptions of duty and other measures. Thus, international trade and business have tremendous scope in terms of employment and entrepreneurial opportunities in India.
Dimensions of International Business
In broader terms, international business strives for achieving the foreign trade objectives of a country by integrating the export and import practices of various trading partners/countries. With the emergence of WTO (World Trade Organization) in 1999 the international trade practices have been standardized and member countries have agreed to come under a broader network with some common rule and trade codes of conduct. Since various trading partners/countries are involved in the complex trade activities, a lot of complexities arise during the whole process. These may be due to differing export-import policies, legislations, custom agreements, documentation requirements, quality control concerns, standardization and other micro/ macroeconomic consideration.
Scope and career opportunities in 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.
After completing degree in international business, one can be absorbed in export houses or with merchandisers. The responsibilities assigned to a professional may be documentation related to export/import and Liasoning with the tax & custom authorities. Their work also involves liasoning between exporters and port authority. CHA (Custom House Agents) are required by the exporters to facilitate the custom clearance. Similarly, export managers and executives are much in demand for insurance companies particularly marine insurance corporations where they are required to assess the loss or physical damage to the goods shipped in a country. They are assigned the responsibilities of assessors, surveyors and certifiers. This is a very technical and specified job which not only requires professional competence but also demands knowledge of latest standards and legislations in international business to cope up with the situation.
In marketing field there lies enormous scope for the management graduates with IB specialization. For boosting overseas sales, searching new business hubs and potential markets abroad, marketing professionals are desired by the export houses. The essential qualification includes; graduate or post graduate degree in IB with attitude to take challenges coupled with understanding of the world business environment. Knowledge of foreign language (French or German) is an added advantage for these professionals. In addition to the above, international marketing executives suggest strategies based on marketing research and predict demand and potential buyers abroad. They are also engaged in Customer Relationship Management (CRM).
Media reporting and journalism related to import export and commodity specific reporting can also be a good opportunity to the young people having a flare for international business news in print and electronic media.
People having analytical skills and background in international finance are placed at different positions in finance related departments of banks and financial institutions. Now a days banks have their own separate wings of foreign exchange transactions, export finance, risk management and consultancy in international financial management where every task related to foreign exchange dealings and export import finance is performed e.g. letter of credit etc. Competent professionals must have degree in international business with specialization in international finance are placed for this job. EXIM bank, ,public & private and foreign banks also appoint specialized people in international finance, foreign exchange, risk management and currency derivatives.
H.S.C. (10+2) with min 40% marks and English as a compulsory subject.
First Year Syllabus
Second Year Syllabus
Third Year Syallabus
A student shall be evaluated for a total of 3600 marks divided into 1200 marks per academic year or 600 marks per semester. There will be a written examination of 80 Marks of 3 hours duration for every course at the end of each semester.
Internal assessment will be of 20 marks mainly comprising of internal tests(PAT & SIT) day to day class performance and attendance. For subjects such as Business Exposure(Sem IV-416) students are required to submit a written report(assessed for 50 marks) followed by a viva voce examination of 50 marks.
Similarly, for course on project work (Sem VI-416) students are required to submit a written report(assessed for 50 marks) followed by presentation of 30 marks and viva voce for 20 marks.
In order to pass in a course, a candidate will have to score a minimum of 40% marks in each subject (semester end 32/80).
NOTE: Assessment of first year students will be done by the college as per Pune University norms. The class shall be awarded to the students on the basis of aggregate marks obtained by him/her in second and third years.
MIT-SOM College employs a combination of the following teaching methodology approaches to create a stimulating, dynamic and vibrant learning atmosphere for the students:
- Traditional lecture method with modern teaching aids
- Interactive Sessions
- Project Based Learning
- Educational Tours
- Computer Assisted Learning
- Problem Methods
- Case Study Methods
- Experiential Learning
- Management games
- Class test
- Tutorials and assignments
- Student Research Activities
Industry visits play an important role in the MITSOM College education programme. Students are taken for industry visits in and around Pune where they interact with the company people and have a first-hand experience of how a corporate entity actually works.
The crucial purpose behind this programme is to accustom students to the industrial practices and the workings of the corporate world. Students are exposed to practical situations and events in companies thereby honing their corporate skills and industry understanding.
Following visits are arranged for BBA(IB) (Formerly known as BBM(IB) students every year:
- Visit to Village Ralegansiddhi, Tal. Parner, Dist. Ahmednagar
- Volkswagen Group India, Chakan, Pune
- Dynamic Logistics Pvt. Ltd, Village Dighi, Alandi Road, Pune
- Jawaharlal Nehru Port Trust (J.N.P.T.), Mumbai
These are not mere study tours but it includes Certificate modular courses and faculty development as well.
- University of South Florida, USA
- LA TROBE University, Asutralia
- University of Cincinati, USA
- Ball State University, USA
BBA(IB) (Formerly known as BBM(IB) (Formerly known as BBM(IB) department publishes Research Journal Avani( ISSN NO:2319-197X) which is on national and international business. This particular journal is distributed under the head of CRHD. This journal comprises of many innovative and scholarly articles, pertaining to international business, globalisation, international logistics, agricultural products and service sectors. Till date, we have published three volumes
Students and faculties are actively engaged in contributing towards research in form of monographs, research papers and articles, working papers, major and minor research projects . Students are motivated in organising and participating in various research paper competitions, at intercollegiate and university level.
The obvious choice afer BBA(IB) (Formerly known as BBM(IB) (Formerly known as BBM(IB) is opting for the postgraduate degree - MBA. Having a prior knowledge of different aspects of Management, BBA graduates often find it easier to crack MBA entrance exams, as compared to commerce graduates. After completing your BBA program, you also have the option of joining as a Management Trainee/Executive Trainee in any of the following sectors.
- International Finance
- IT Companies
- Corporate Sector
- Import - Export
Riddhi Kadam T.Y BBM(IB) Batch 2017
"An Investment in knowledge pays the best interest." - Benjamin Franklin
MITSOM College places great emphasis on the quality of learning process. Here, the classes are stimulating and co-curricular activities enjoyable. The aspect which helped me to excel was the constant encouragement from my faculty. The studies are supported by numerous mentoring seminars & lectures combined with research insights. Students are the centre focus of MITSOM college, I have got several opportunities to develop my teamwork and management skills through actively organising and participating in intercollegiate events.
While diverse in our backgrounds as well as nationalities, we the students are united by our motivation to succeed and provide meaningful contribution as individuals.
MITSOM College has proved to be the best platform which has offered us with a comprehensive study environment along with a professional discipline base.
Madhav Gandhi TY BBA Batch 2017
It has been said that every journey has its share of ups and downs but I can proudly say that my journey of MITSM College has only been through ups and ups. This is because MITSOM College ensures overall development of students. Studying here is once in a life time experience. There are ample opportunities provided by MITSOM College to develop the potential talent of students in their field of interest, be it academics or the exposure required to strive through the corporate world.
I must add that faculties at MITSOM College are the backbone of it. The environment of the college and relations with the faculties has always been motivating and supporting.
I am proud to be a part of such an esteemed college.
Thank you MITSOM College for making these 3 years a memorable experience!
Abhijeet Chandgude (G.S.2014, Best out going student)
I feel proud and lucky that, I am a part of MITSOM College. As a GS, I feel MITOM College has given me excellent and appropriate platform which has helped me to develop the leadership qualities along with various other skills. The biggest contribution of my success is the unconditional support of our Honorable Principal Dr.R.M.Chitnis, and all my faculty members. Their motivation is the ladder towards my achievement and success. I am extremely thankful to MITSOM College for making me what I am today.
Tejinder Kour Gulati (1st Ranker)
MITSOM College is the best thing that could have happened me, for I have learned and gained a lot in these 3 years of my splendid college life. The college, faculty members and my friends have helped me discover my real self. Need lees to add, it has also inculcated in the students abundance of spiritual values. The course BBA-IB is very interesting which gives tremendous knowledge in various areas and one can actually channelize their strengths .Thank you MITSOM College for making me what I am today.
Prajakta Bhattad (2nd Ranker)
I am grateful to be a student of MITSOM College.Mitsom College has provided me with magnificent platform which has helped me explore my talents in various fields. The support and guidance of faculty members has developed a sense of leadership qualities and development in my Studies.MITSOM College has changed my personality so as to help me realize my true Potentials.MITSOM College has truly given a great opportunity to groom myself as a leader for today and tomorrow.