09 October 2023
According to a leading educational council, approximately more than 50% of Post-Graduate Diploma Management (PGDM) students prefer entrepreneurship as their preferred career. The same council also stated that 23% of these graduates have also expressed their intent to work overseas for global firms.
The above statistics further reinstate the significance of the two most popular PGDM programmes, i.e., PGDM in Entrepreneurship and PGDM in International Business. A PGDM in Entrepreneurship focuses on the development of entrepreneurial skills such as idea generation, business planning, and fundraising to set up new businesses or ventures. On the other hand, a PGDM in International Business imparts knowledge and skills in global trade, international market expansion, and cross-border business operations. Today, we shall explore these PGDM degrees and understand which is a better career choice for you!
Entrepreneurship or International Business: Course Duration
Both PGDM in Entrepreneurship and International Business have a course duration of 2 years, which is further divided into 4 semesters. The eligibility criteria to enrol for the PGDM programme include a minimum of 50% aggregate marks (SC and ST categories with a minimum aggregate of 45%) in your undergraduate degree. Additionally, you need to pass entrance exams, such as CAT, MAT, ATMA, CMAT, or equivalent with qualifying marks. You can also appear for college-specific entrance exams that consist of different rounds such as written tests, group discussions, presentations, and personal interviews. Furthermore, your prior work experience helps provide an upper hand during PGDM admissions.
Entrepreneurship or International Business: Curriculum
The curriculum of PGDM Entrepreneurship focuses on topics such as business planning, innovation, venture capital, startup management, and entrepreneurial finance. Additionally, the curriculum may also cover topics such as marketing for startups, business models, and pitch development. Besides theoretical knowledge, the course also nurtures practical learning through internships, industrial projects, and real-life case studies. Some of the core topics covered in this PGDM course include entrepreneurship fundamentals, financing and funding, entrepreneurial leadership, entrepreneurial finance, business ethics and social responsibility, entrepreneurship and technology, legal aspects of entrepreneurship, and others.
On the other hand, the curriculum of PGDM International Business covers subjects such as global marketing, international finance, and cross-cultural management. Furthermore, you also learn skills such as market analysis, global strategy formulation, negotiation, and international finance. The programmes also give equal importance to experiential learning through project visits, internships, presentations, and others. This course covers key subject areas such as the fundamentals of international business, international trade, global business law, global supply chain management, multinational company operations, international economics, and various other related topics.
Entrepreneurship or International Business: Career Opportunities
PGDM in Entrepreneurship focuses on developing skills such as creativity, innovation, risk-taking, and problem-solving which are essential traits for all entrepreneurs. You can use your knowledge and expertise to develop business plans and secure funding for your ventures. After the completion of your degree, you can undertake different types of entrepreneurial roles. One such role is that of a startup founder, where you can launch your tech startup, a retail store, or any other type of business. Alternatively, you can also assume the role of a small business owner, who is responsible for managing micro or small businesses, such as a restaurant, boutique, or service-oriented company. Going forward, you can start your entrepreneurial journey as a social entrepreneur, establishing businesses with a profound social or environmental goal. You can invest in startups and emerging companies as a venture capitalist, thereby providing the startup companies with capital and guidance to grow.
A PGDM in International Business graduate can explore diverse career opportunities across different fields. You may get the opportunity to work for multinational corporations, international trade organisations, or even international firms and agencies. One intriguing career path to consider is that of an international business manager, wherein you will be overseeing global operations for international companies. You can assume the role of an export manager, responsible for managing the export of products in global markets. Additionally, you can explore a career as a global marketing manager, tasked with the development and execution of marketing strategies to broaden a company's global presence. Last but not least, you have a golden opportunity to work as an international trade specialist, wherein you will help organisations navigate complex international trade regulations, customs, and compliance.
Summing Up
To summarise, the PGDM in Entrepreneurship and the PGDM in International Business are two prominent post-graduate programmes that offer great career advancement opportunities in diverse industry settings. A PGDM in Entrepreneurship equips you with the skills and mindset required to embark on entrepreneurial roles such as startup founder, small business owner, social entrepreneur, or venture capitalist. On the other hand, a PGDM in International Business offers a comprehensive understanding of global markets and international trade, which offers opportunities for multinational corporations and international trade organisations. Both PGDM in Entrepreneurship and PGDM in International Business offer not only specialised knowledge but also a broader skill set and valuable industry exposure that can pave the way for successful careers.
