Individual Paper-Career Focus: International Business Development Manager

Individual Paper-Career Focus: International Business Development Manager
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Individual Paper-Career Focus: International Business Development Manager
Introduction
Pursuing a career in business management has been my passion since there are numerous options that a person can pursue with a bachelor’s degree. The opportunities available are limitless, and this implies that understanding the available choices is crucial in becoming successful in this field. After doing due diligence and examining the potential options, I became interested in careers that focus on international trade. Kalamova (2009) argues that for a person to be successful in international business, one should prepare himself to deal with complex intercultural issues that are faced by global businesses. During my internship, I got an opportunity of working in an international organization that had subsidiaries in different countries. The company hired employees from diverse backgrounds irrespective of race, culture, or religion. The cultural diversity in the workplace enabled me to appreciate and respect the uniqueness of each employee, and I gained a huge motivation to become an international business development manager. Therefore, I have chosen a career as an international business development manager since the profession matches with my strengths and attributes.
Industry – Profile
Over the past few decades, globalization has influenced the expansion of international businesses, enabling numerous organizations to expand into foreign markets. In the current corporate world, foreign trade has allowed multiple industries to grow and sell their products to a diversified group of customers. Goods and services that are traded in the international market are currently valued at more than $20 trillion, implying that these industries tend to influence all sectors of the economy (Ko, 2018). Most countries have drastically eliminated policies that restrict international trade, and this has prompted several firms to expand their productions to regions where the cost of doing business is relatively low.
For instance, Apple Corporation utilizes its subsidiaries located in foreign countries to produce iPhone. The economic theory or concept of comparative advantage has motivated countries to specialize in the products that have a low production cost. Another important aspect of this industry is the ability to work in a diversified field of professionals who possess a variety of skills (Ko, 2018). Specialists in international business development have to attain specialized skills that pertain to the countries they operate in. These professionals must understand the economy, laws, culture, trade patterns, and business practices of the specific country.
Job Description/Job Specification
International business development managers operate in different kinds of global markets. This job requires a manager to have the ability to maintain current customers while attracting new ones in both domestic and foreign markets. Moreover, a business development manager must be able to expand the business to foreign markets, and this includes both established and emerging markets (Wolf, 2011). Therefore, professionals in this field require knowledge in market entry strategies, risk analysis, finance, competitive trends, and laws and regulations of operating in different markets. To develop a competent workforce, managers must be able to create strong relationships that go beyond cultures.
Intercultural diversity plays a crucial role in promoting innovation and productivity in an organization. Therefore, the manager must be able to evaluate and understand the changing business needs in order to assemble the right professions who would enable the business to sire to greater heights (Wolf, 2011). Working in an international platform requires knowledge in domestic and foreign legal principles that govern international trade. Managers should be conversant with the principles of international law to ensure that all business practices do not conflict with the laws and ethics of doing business on a global platform.
Job Demand/Job Outlook
There is enormous demand for professionals who specialize in international business development, with statistics showing that a considerable number of companies are increasingly expanding to foreign markets. Millions of jobs are supported by international trade and business development. Studies are showing that small and medium enterprises (SMEs) are in huge demand of these professionals so that they can be able to expand into the global arena (Luong, 2019). As the world economy continues to grow, several organizations are recruiting international business workers, including marketing managers, financial analysts, economists, HR professionals and many others.
Studies have shown that a degree in international relations increases the chances of securing a job in global enterprises since workers are equipped with skills of dealing with international clients. Evidence also indicates that demand for management analysts has been expanding at a tremendous rate, with scholars estimating that this field will grow by 14% up to 2026 (Shulsinger, 2018). There is a huge demand for global business managers who can be able to solve problems that are encountered by firms in foreign markets. Furthermore, marketing managers who are able to find new markets in foreign countries are also in huge demand.
Demographics
Jobs associated with international business development are limitless, and this implies that a professional in this field can work in any country where there is a conducive working environment. Globalization has played an instrumental role in the expansion of trade and has enabled numerous businesses to expand into foreign markets. Therefore, professionals who have specialized in business development can apply for employment opportunities in organizations that want to expand their operations into foreign regions (Trienekens, 2011). Scholars argue that international business development requires a manager to have comprehensive skills in business incubation. This implies that a manager must be able to analyze the trends in a certain market and decide if there is an opportunity of starting a business that will be successful after a certain period of time.
Emerging markets are proving to be the largest recruiters of international business development managers since these economies are experiencing an upward growth. Evidence indicates that most companies are investing in emerging economies since they have a huge potential for growth. Moreover, since emerging economies are...