Singapore’s strategic location as a global trade hub makes studying for an international career in business management a good choice.
One global industry experiencing significant growth in Singapore is the semiconductor industry. This sector has seen a resurgence due to increased global demand for electrical goods. The strength of the worldwide market is reflected in the container and air cargo traffic at Singapore ports. In May 2024, Changi Airport reported 170,000 tonnes of air freight handled, a 20 per cent year-on-year increase.
Hence, now is an ideal time to pursue a career in international business management, particularly in the semiconductor industry. Studying through TMC Academy can be the start of this exciting career choice.
What does a career in international business management involve
A career in international business management requires a good understanding and knowledge of international markets, global economic trends and the cultural differences between the international markets.
Generally, management positions have the following key responsibilities:
1. Strategic Planning involves developing and implementing strategies to expand business operations internationally.
2. Cross-cultural management: involves managing teams from diverse cultural backgrounds and ensuring effective communication and collaboration between team members.
3. Market Analysis involves researching to understand international markets and identify new areas and markets where growth can occur.
4. Compliance and Financial Management includes overseeing budgets, financial planning, resource allocation on a global scale and ensuring the business complies with international laws and regulations.
Why studying international business management in Singapore makes good sense
Singapore’s position as a global hub makes it the ideal location for those interested in studying international business management. Some of the other things that make Singapore a perfect location to study international business management are:
1. Singapore’s pro-business environment. Singapore is known for its transparent governance, robust legal framework and ease of doing business, which attracts multinational corporations and startups. For example, there are over 7,000 multinational corporations in Singapore.
2. Job market. Given the number of multinational corporations, there are numerous job opportunities for graduates in international business management across various sectors such as finance, technology and trade. Positions range from business development managers to international marketing managers.
3. Networking and Growth. As a global hub, Singapore hosts numerous international business events, conferences, and networking opportunities. These events help professionals connect, network, and grow their careers.
4. Multicultural environment. As mentioned above, one key responsibility in international business management is communicating cross-culturally. With its diverse population, Singapore provides a rich multicultural environment that enables people to build cross-cultural skills and understand different cultural perspectives.
Studying international business management at TMC Academy
TMC Academy, with over 40 years of excellence in education and its commitment to lifelong learning, is the ideal location to study for a career in international business management.
The Academy provides several pathways for students looking to build a global career in international business management.
Diploma in Business – International Business Specialisation
The Higher Diploma in Business Studies – International Business Specialisation provides students with an understanding of management and critical business processes.
This higher diploma also has an Industrial Attachment module, which is a paid internship program with leading Singaporean companies. It provides students with the opportunity to put the knowledge and skills they learn in the classroom to practical use in the work environment.
The Diploma can either be completed on a full-time or part-time basis and consists of the following core modules:
Introduction to Management
Marketing for Managers
Accounting
Statistical Techniques for Business
Business Economics
Business Law
Business Finance
Business Strategy
Industrial Attachment (6 months)
With International Business Specialisation
• International Business
• International Organisational Behaviour
• Human Resource Management Strategy
Once students complete the higher diploma, they are eligible to pursue the Top-up Degree awarded by the University of Northampton at TMC Academy.
Bachelor of Arts (Honours) International Logistics and Trade Finance (Top-Up)
This degree, awarded by the University of Northampton at TMC Academy, is a final-year program that equips students with the knowledge and skills required to become effective logistics and supply chain managers and supervisors.
This program develops the logistics skills required from an international perspective and provides the knowledge and understanding of economic, political, and financial risk factors that impact the world economy.
The core modules for this degree are:
Supply Chain Operations Management
Logistics Solutions
International Trade Finance
Strategic Management
Social Responsibility of Business
Business Project
The degree can be studied full-time or part-time, depending on a student’s commitments.
So, what does a Logistics Manager do
The Logistics Manager in an international business plays a crucial role in ensuring the smooth and efficient movement of goods or services across countries. Some of their key responsibilities include:
1. Coordination with Overseas Vendors. The Logistics Manager must meet service-level expectations and maintain good relationships with vendors and service providers. This requires high-level communication skills and the ability to communicate cross-culturally.
2. Supply Chain Strategy. The Logistics Manager develops and implements strategies and opportunities to grow and expand the business in line with the company’s goals. This requires skills in strategic management and the ability to consider global economic factors that may impact the company.
3. Cost Management. The skills in strategic management must be enhanced by the ability to manage costs. The success of many international companies depends on finding ways to reduce costs while improving the flow of products and materials and increasing business performance.
4. Negotiation Skills. As good communicators, the Logistics Manager must also have excellent negotiating skills, for they often negotiate sea and air freight quotes across countries and cultures to ensure cost-effective shipping of supplies.
5. Inventory Management is the skill of keeping track of inventory and ensuring products are delivered promptly and safely. It requires care and attention to detail.
6. Compliance. Logistics Managers must ensure that the systems they operate comply with various government regulations, not just in Singapore but also internationally
7. Team Leadership. Most managers are responsible for teams. Hence, it is important that they have leadership and management skills to build cohesive, effective teams that are skilled and competent in carrying out their duties.
In essence, a Logistics Manager ensures that the entire logistics process, from sourcing to delivery, runs smoothly and efficiently, even when dealing with the complexities of international trade.
Singapore, as a global hub, requires Logistics Managers in many industries. For example, the fashion, retail, catering, and marine sectors all need Logistics Managers.
A good first step for a person looking to embark on a career in international management that provides global opportunities is studying through TMC Academy.
For further information, contact the Academy here.
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