Studies & Degrees in Import & Export Management
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The world indeed has become a smaller place than it seemed to be a few decades ago. Advancement in aviation, shipping, and communication technology has significantly reduced the geographical bounds between continents and cities and has turned the world into a very big marketplace. With these development and innovations, international trading has become a very promising enterprise. However, the rapid advancement has necessitated the creation of trade regulations and policies for the mutual protection of the individuals, companies, and countries involved in international trading. The onset of these policies and laws, as well as agreements on international tariffs and trade between governments and other variables, such as foreign exchange, has brought complexities to the import-export business. A formal education on these aspects is now necessary to be able to grasp these policies and be successful in international trading.
Import Export Management (IEM) is taught in business schools and is usually a part of the core courses or areas of study in an undergraduate curriculum. These could be requisite courses that the students need to finish before graduating with a Business degree. Some schools also offer IEM as an area of specialization. Should a student decide to specialize on international trading, specific courses focusing on international trading/marketing are required on the subject matter to further enhance the knowledge of the student. Specific areas of study, such as international trade theories and models; government policies and procedures for the importation and exportation of goods and services; Foreign Exchange regulations; shipping and customs clearances; and documentation among others are imparted to students to equip them the necessary know-how. International marketing and risks analysis of factors, such as government regulation and intervention and political climate, are usually a part of the Import Export Management curriculum. Simulated business scenarios or case studies are often the preferred method of teaching in business schools offering the program. In this approach, the students experience hands-on training and exposure to real time decision-making with a given set of variables. IEM is also offered as a post graduate study in some schools. A university degree is required to be able to enroll in the course. Certification in Import Export Management is awarded to students who finish the course. The post graduate curriculum also tackles the course offerings in the undergraduate level; however, discussions and analyses tend to be more in-depth.
Graduates and certificate holders of IEM could opt to either be employed in multinational companies or in the government. Multinational companies employ those who have education and training in international trade in their marketing and finance departments as marketing analysts. Government agencies, such as the Department of Commerce and Department of Trade and Industry also hire people with an IEM education as trade officers of their country. Trade officers are tasked to scout the potentials of exporting local products to different markets. Another option for those who have the necessary capital could become entrepreneurs and setup their own Import-Export Management business. They could engage in the promotion, marketing, and distribution of goods from one country to another.