Industry and Career Research Report
Table of Contents
I am enrolled in the 2-year Diploma in Business – International Business program (program code is 2809). I selected this program because I want to learn more on the international business setting and have the foundational knowledge on the international business world. I hope to gain more knowledge on the international business concepts and practices such as imports and exports, transportation and logistics of goods overseas and customs compliance. I plan to have a rewarding career here in Toronto after my graduation from this program. Please refer to Table 1 below for the detailed courses included in the first two semesters in this program.
|Table 1: Business – International Business 2809
Coordinator: Jumoke Famutimi
|Course Code||Course Title||Weekly Hours||Course Description|
|BUSN119||Fundamental of Business||4||Introduction to a broad range of business concepts, practices, and theories relevant to today’s global business environment.|
|COMP106||Applied Business Software 1||4||Introduction to ICT (email, computer basics, Internet), word processing, and presentation software concepts.|
|HRMT301||Human Resources Management||3||Comprehensive introduction to Human Resource Management (HRM).|
|MATH118||Mathematics of Finance 1||6||Review order of operations, ratio, proportion, percent, basic algebra and graphing.|
|MKTG116||Principles of Marketing||3||Overview of contemporary marketing, emphasizing the management of the product/service, price, promotion and distribution areas of an organization within a changing environment.|
|COMM170/171||College Communication 2||3||Focuses on the refinement of reading and writing skills. The course emphasizes clear, correct writing based on the process of composing, revising, and editing.|
|COMP126||Applied Business Software 2||4||Introduction to ICT (Productivity Programs, Digital Lifestyles), spreadsheets, and database software concepts. Students build technology skills as they apply formulas and functions, use pivot tables, charts and scenarios in Excel 2016 to solve business problems, analyze data, and make decisions.|
|GNED500||Global Citizenship: From Social Analysis to Social Action||3||Global citizenship provides students with an opportunity to gain the knowledge and skills required to live and work in a world that is globally interconnected.|
|INTL220||International Business Concepts||3||Introduction to the major considerations in the conduct of business activities within a global context.|
|MATH119||Mathematics of Finance II||6||Topics include trade and cash discount, retail pricing, simple interest, equations of value and promissory notes. The course also covers compound interest topics, including present value and interest for fractional periods. Further topics include nominal, effective and equivalent rates of interest. This course concludes with ordinary annuities.|
|OMGT129||Introduction to Supply Chain and Business Operations||4||Introduction to the study of operations management. It will provide background to the development of the operations management activity in Canadian business.|
Source: Adapted from Centennial College, School of Business, Business – International Business 2809, retrieved from https://www.centennialcollege.ca/programs-courses/full-time/business-international-business/
The Forum for International Trade Training (FITT) is a not-for-profit organization dedicated to providing international business training, resources and professional certification to individuals and businesses. It was established in 1992 as part of Canada’s sector council initiative. Since it began, the organization has been committed to developing and providing quality training programs, resources and professional credentials designed to prepare individuals and businesses to compete successfully in world markets (fittfortrade, 2019).
The FITT offers the only international business training programs and related professional designation (CITP®|FIBP®) endorsed by the World Trade Centers Association and the Canadian government. Their international business training solutions have become the standard of excellence for global trade professionals across Canada and around the world. Its mission is to build the proficiency—knowledge, skills and abilities—of people, businesses and organizations to access global markets, reduce and manage the risks of integrative trade, and enable profitable competition (fittfortrade, 2019).
Users of FITT are professionals in all different stages of their career and are ready or getting ready for the business world, including those who are new to international business, working in international business, experienced executives and business owners.
The FITT offers two services such as CITP certification and international business credentials. The CITP designation is achieved through a combination of education and work experience. The CITP certification is issued after a candidate has earned his FITT diploma and has proved the required work experience. The FITT also offers international business educational credentials based on the global trade competencies acquired through the FITT skills program (fittfortrade, 2019b).
“How to Export” event happened last 28 January 2016 in Ottawa, Ontario. The event was tailored to discuss selling products overseas and exporting procedures. It provided guidance on promoting export to international customers. The session was for those companies that would like to expand their presence and products in the international market as well as get key information to succeed in the export business (fittfortrade, 2019c).
Another event that happened under FITT events is the “Information session for carriers, U.S. exporters to Canada and Canadian importers”. The event happened last 22 October 2015 in Ottawa, Ontario. The topics discussed in this session includes the CBSA Approach, The Purpose of ACI, Carrier Code Requirements and Customs Sufferance Warehouse Regulations (fittfortrade, 2019d).
Members of FITT gain special access to a variety of programs, publications and services that have been developed specifically for international business professionals. Members are classified as to General, Certified, Corporate and Student. Membership fee of $100, $270, $695 and $40, respectively is to be collected per year for each member. There are different processes for becoming a member depending on the classification of the applicant. However, all membership fees last for one year from the date of payment of the membership fees (fittfortrade, 2019g).
The CITP designation also known as the Certified International Trade Professional designation officially validates the level of competency of international trade professionals worldwide. Currently, there are practicing CITPs in over 40 countries and growing. This global designation is earned by meeting a rigorous set of competency standards, as set by FITT – the world’s most trusted international trade training and professional certification authority. It would be helpful to sign up at the association’s website to receive news and weekly market intelligence and keep up with job postings, events and promos. E-books, guides and notes are also being posted in their website which are helpful and useful.
There are 3 levels for the CITP designation, namely: The FITT Certificate in International Trade, the FITT Diploma in International Trade and the CITP designation.
There is no cost of certification for the Certificate in International Trade and FITT Diploma in International Trade. However, there is a cost of $270 CAD included in the CITP designation application, which covers the first year of certification.
First, an applicant should complete 3 or more FITT skills courses (or equivalent credits). If this is satisfied, he/she will earn the FITT Certificate in International Trade. Second, if a candidate successfully completed the FITT skills program (or equivalent credits), he/she will earn the FITT Diploma in International Trade. Lastly, to earn the CITP designation, a candidate must have FITT Diploma in International Trade and must have completed a minimum of 12 months of professional experience in a position where his/her responsibilities relate to international trade. After completing the necessary requirements, he/she must send the CITP application to FITT and pay the cost of $270 CAD plus applicable taxes. If the CITP application is not approved, this cost is fully refunded. Once the CITP application is submitted, applicant should receive an email stating that the application has been received, along with an email copy of his receipt. Most applications will be reviewed by FITT staff, while applications by those with 10 or more years of experience are also reviewed by the Certification and Accreditation Committee (CAC), which meets on a monthly basis. The process to review the application often takes several weeks, and may be affected by the volume of applications, time needed to speak with applicant’s contacts or other factors (fittfortrade, 2019e).
The Certified International Trade Professional (CITP®) designation is the world’s leading professional designation for international business. Whether you’re new to the industry or have over a decade of experience, the CITP® designation will help CITPs earn a competitive advantage within the industry, build credibility with clients, colleagues and co-workers, and land new jobs and promotions. The CITP® designation gives a proof that you possess the competencies global business experts have identified as being essential for a successful career in international trade. This sets CITPs apart in the competitive international business industry.
It also recognizes the commitment to global trade as a profession, dedication to ethical business practices and ongoing professional development, which are desirable traits for today’s global business practitioners (fittfortrade, 2019f).
The Globe and Mail report on business is a very relevant publication in my chosen field. The publication focuses on business news, both local and international news. Since my program is International business, their online news is very useful to me. They provide an updated and wide scope of news in the business world. Their report on business are also classified into small business, international business, world news, industry news and business commentary. As International business deals with trades everywhere, including imports and exports and international trade, the business news they provide worldwide is very useful to my chosen field.
In a news article by CNBC dated 21 February 2019 (refer to Appendix A), Johnson & Johnson recently received the subpoena related to the baby powder litigation issued by The U.S. Justice Department and the Securities and Exchange Commission (SEC). A Reuters report on Dec. 14 revealed that Johnson & Johnson knew for decades that small amounts of asbestos, a known carcinogen, had been occasionally found in its talc and powder products, according to tests from the 1970s to the early 2000s — information it did not disclose to regulators or the public. The Reuters article prompted a selloff in Johnson & Johnson shares, erasing about $40 billion from the company’s market value in one day, and a public relations crisis as the healthcare conglomerate faced widespread questions about the possible health effects of one of its most iconic products (Reuters, 2019).
Johnson & Johnson is one of the multinational companies which operates its international business around the world. They have products that are imported and exported from many points in the global business world. This article is related to my chosen career field as this company deals in international trade. The main issue discussed in this article is the asbestos, which is a carcinogen allegedly found in the company’s powder products and was not disclosed by the company. The company faced an economic difficulty of losing its market value after the crucial information had been made to the public. The company now receives the subpoena to prove that they tested their products and found that it was carcinogen-free.
International trade, international marketing and corporate social responsibility are the three main courses in my program that can be linked to this article. Exports and imports are part of international trading. This kind of business news will have an adverse effect on the company’s trade and financials. International marketing is also compromised in this business news article. The company failed to disclose the presence of asbestos in their product which was later discovered by external parties. Lastly, the company lacks corporate social responsibility when they continue to produce, market and distribute their powder products while compromising the health benefits of the society over their own financial gains.
There is a job listing in Indeed.ca which is very applicable to my chosen career field (Please refer to Appendix B). The job title is Customs Compliance Clerk under Breakaway Staffing. The salary being offered is $36,000-$42,000 a year.
I believe I can do well in this job because in my third semester for the International Business program, we have a course on Customs Services and Compliance and Global Logistics. These two courses will focus on the international business environment and will equip me of the information I need for the customs compliance job. Also, Customs Compliance Analyst and Import/Export Documentation Specialist are listed as one of the career outlooks for my program. Therefore, I can conclude that this job is suitable for me.
- Ensuring customs documentation is complete for all shipments
- Experience with an ERP system
- Strong knowledge of MS Office (Word, Excel, Outlook) (Indeed, 2019)
After graduation, I should have learned the duty of ensuring customs documentation is complete for all shipments. My courses on Customs Services and Compliance and Global Logistics will provide me with the information I need to check all the customs documentation requirements. Also, I have an experience in using an ERP system in my previous job. For example, the SAP, which is a widely used ERP system by multinational companies dealing with international trade. In addition, currently I have the basic knowledge of the MS Office (Word, Excel, Outlook). I have experience in using MS applications in my previous jobs. Adding up my courses in COMP106 and COMP126, these will further enhance my MS Office skills.
- Centennial College. (n.d.). Retrieved from Business – International Business: https://www.centennialcollege.ca/programs-courses/full-time/business-international-business/
- fittfortrade. (2019). Retrieved from https://fittfortrade.com/about-us/our-story
- fittfortrade. (2019b). Retrieved from https://fittfortrade.com/credentials
- fittfortrade. (2019c). Retrieved from https://fittfortrade.com/news-events
- fittfortrade. (2019d). Retrieved from https://www.eventbrite.ca/e/information-session-for-carriers-us-exporters-to-canada-canadian-importers-tickets-18843238634
- fittfortrade. (2019e). Retrieved from https://fittfortrade.com/certification-process
- fittfortrade. (2019f). Retrieved from https://fittfortrade.com/common-questions-about-elite-citp-fibp-designation
- fittfortrade. (2019g). Retrieved from https://fittfortrade.com/membership
- Indeed. (2019, February 20). Retrieved from Indeed.ca: https://www.indeed.ca/viewjob?jk=91906c6d7de78f11&q=customs+compliance&tk=1d49njrpn5hlo802&from=web&advn=2295928135213123&adid=175516988&sjdu=kSBpNEtF59vr6KyYm5J2o-mg-LkWRDy3AQ2c0U4iXbQEiraBecpjJQOLCvYHhb5pI3EmHGGPFQ01VCSeUCFw9eO4jsofgGRnHbZhEQLNe3E&acatk
- Reuters. (2019, February 21). Johnson & Johnson receives federal subpoena. Retrieved from CNBC: https://www.cnbc.com/2019/02/21/johnson–johnson-receives-federal-subpoenas-related-to-baby-powder-litigation.html
Source: (Reuters, 2019)
Source: (Indeed, 2019)