Q: I’m interested in doing business internationally. I have done some reading on the subject, but there is an awful lot to digest. Have you had any experience in this matter and can you suggest the best way to get started? — P. Granger. A: Great question, Mr. Granger, though not one I’m personally qualified to answer since I have not had direct experience with international sales. So like any good columnist without a clue I can either make up something and hope it sounds semi-intelligent or I can consult someone who really is an expert on international sales and let him answer your question. Since my agreement with The Times prevents me from fabricating anything other than my true age (I’m 29), let’s go with the latter. I called on Jose Rodriguez, President of RISMED Oncology Systems, a Huntsville company that provides high medical technology to radiotherapy professionals around the globe, to get his input on the subject. Jose is an old friend and client and if anyone can give pointers on doing business internationally, Jose is the man. Jose believes that the decision to do business beyond your own backyard should be based on your success as a local, domestic business first. “Unless the business is intended to be one that sells to international customers only, one should not jump into international business until they have devoted the time to develop a good local and domestic business first,” Jose recommends. Here are a few other points Jose recommends that you keep in mind when considering an entry into the international business arena. Instill Confidence In Your Customer Regardless of the type of product or service you sell internationally, you must be ready to provide your international customer with an even higher level of service that you offer your domestic customers. To instill confidence in your international customers you might have to offer such things as around the clock telephone support, extended warranties, and other services that help the customer have confidence in doing business with you. Know The Rules You must understand all of the rules and regulations that govern international business practices in this country as well as those in your customer’s country. Understanding the rules will allow you to provide service beyond the expectation of the buyer and operate within the boundaries of the law. Understand The International Shipping Process If goods are being shipped internationally you must have a thorough understanding of shipping modes and regulations. Any difficulties with shipping will always be viewed by the buyer as the seller’s responsibility, right or wrong. Understanding the entire shipping process and having policies in place will help avoid shipping problems and keep the customer happy. Work With Experienced Companies Always look for experienced companies to work with, especially when if comes to shipping, insurance, freight forwarders, etc. Such companies are great allies and will help keep everything in order and will also help in solving problems related to their end of the process. Signed and Sealed Never conduct business under verbal orders. Always put everything in writing with the required signatures. Doing international business is different than domestic business. Outside the United States signatures and seals are required to seal the deal. Don’t worry about offending your customer as this is just part of doing business internationally. Include A Packing List If shipping goods, always do a packing list and always number the packages (if 5 packages are being sent, label them 1/5 [1 of 5], 2/5, etc.). If anything is lost, they will know which package is missing and you will have sent a packing list detailing what was in every package, making it easy for the customer, the shipper and the insurance company to solve the problem. Also, always insure your goods for at least 110% of their value. Have A Damage Policy Always have a note in your paperwork requiring damage or losses to be reported within 24 hours. Damage reports should be made to the customer’s local delivery company as well as to the shipping company on your end. Signing Off If you are selling services abroad, always have the required paperwork so that as the work is finished or as deliveries are made, the customer signs off in agreement with what was delivered. Ensure Payment Depending on the amount of the sale, always require payment in advance in U.S. currency or payment through a letter of credit to be paid out in U.S. currency. You might also require that the letter of credit be irrevocable and transferable, that it allow for payments of partial shipments, etc. The more flexible the letter of credit, the better, and usually such clauses are yours just for the asking. There are many other considerations you should investigate before starting your international business, but that’s a great list to get you started. Thanks for the great advice, Jose. I couldn’t have said it better myself.
Make the most out of startup tools. Signing on on Facebook, let alone creating a page or group are the cause of your business.are zero cost. Once you have set ready an account, you can begin building your social networking site and looking for potential customers or friends of potential customers that might be interested in your business. What’s the bill? Zero. The only requirement: to be patient in sending brother requests and in the looking for that can become hot for your business. It is also one of probably the most enjoyable forms related to small business marketing / promoting. Online marketing or vast marketing, relates towards an established certain of resources and strategies utilised towards promoting products and after that services by option of the net. These providers services may seem versions that possess produced on your own own or an individual be products or possibly services that your market for another person , individual then will pay for out a get when you trade them. If you are is meant to be a brief comparison and reminder of some valuable yet often bypassed method to collect data on international marketers and consumers. You plan to craft over the internet, you may even so need to realise your business named in the country or territory you’re planning to operate. You also have find out those things that registration and certificates apply to firm. His best thing to attempt to do is make your inquiries with any local government. One other way to approach getting your first couple of clients is to start with your immediate eliptical – you certainly know a involving people in endeavor and they perhaps know even more people in business. Let your family and friends know what one does. Which the fun component would be able to now begin in the form of you are ready to to experiment thanks to the flavours and / or designs that might set you at a distance from your competitors. This might possibly be the easiest cycle as your enthusiasm is what received you to here point in an 1st place. Customers adore prepared goods that are usually made from the beginning.There is also a increasing market because gluten-free products, typical baked goods not to mention healthier desserts. Regardless of at the same time cute and originative your designs are, they must taste fantastic to acquire return sales. Start with any limited menu and then you can potentially grow your vary as you understand how what your market dictates. This clear-cut separation of economic from community increases the problem of coexisting within a harmonious environment. Despite the fact that a business may be to be farmed out the burden of responsibilities still apply. The business provides a tax revenue as very well as product, facility and employment. There are interwoven responsibilities which represent the stimulus for economic considerations. Here in reality, the two more groups tend appear at transactions via very different sides. Lenders are mostly fretful with whether all the borrower can repay the money, even although investors are better interested in how you can far an guru can take a business idea. Ask yourself specifically what approach you would want to want your bank partner to take, because chances are, they will becoming with you your very long time-typically five to many years.
The company where I was working was taken over by a British multinational company in the mid 1990s. The newly appointed Managing Director from UK, during one of his visits to the plant, inquired how Gujarati people eat food at home. Having heard the response, he decided to sit down on the floor and have Gujarati food, along with all the senior colleagues of the plant.
What was the Managing Director trying to do? He was trying to appreciate the cultural norms of the new place and show his willingness to embrace. Such a behavior by the Managing Director obviously helped the local management open up more during subsequent discussions.
In the last 2 decades, cross-cultural challenges in the international business management have become prominent as the companies have started expanding across the territorial boundaries. Even leading management schools in India have started incorporating cross-cultural challenges as part of the curriculum of the international business management.
“Culture” being one of my interest areas, I recently had accepted an invitation to educate the students of a Diploma program on the International Business Management, on the topic of cross-cultural challenges. For my preparations, I browsed through many books on the subject. My knowledge-base got enriched substantially as the treasure of information contained in these books, was invaluable and highly relevant.
This article is an effort to present, some of the relevant issues related to the cross-cultural challenges in the International Business Management.
What is “Culture”?
Culture is the “acquired knowledge that people use to anticipate events and interpret experiences for generating acceptable social & professional behaviors. This knowledge forms values, creates attitudes and influences behaviors”. Culture is learned through experiences and shared by a large number of people in the society. Further, culture is transferred from one generation to another.
What are the core components of “Culture”?
Power distribution – Whether the members of the society follow the hierarchical approach or the egalitarian ideology?
Social relationships – Are people more individualistic or they believe in collectivism?
Environmental relationships – Do people exploit the environment for their socioeconomic purposes or do they strive to live in harmony with the surroundings?
Work patterns – Do people perform one task at a time or they take up multiple tasks at a time?
Uncertainty & social control – Whether the members of the society like to avoid uncertainty and be rule-bound or whether the members of the society are more relationship-based and like to deal with the uncertainties as & when they arise?
What are the critical issues that generally surface in cross-cultural teams?
Inadequate trust – For example, on one hand a Chinese manager wonders why his Indian teammates speak in Hindi in the office and on the other hand, his teammates argue that when the manager is not around, why they can’t speak in English?
Perception – For instance, people from advanced countries consider people from less-developed countries inferior or vice-versa.
Inaccurate biases – For example, “Japanese people make decisions in the group” or “Indians do not deliver on time”, are too generalized versions of cultural prejudices.
False communication – For example, during discussions, Japanese people nod their heads more as a sign of politeness and not necessarily as an agreement to what is being talked about.
What are the communication styles that are influenced by the culture of the nation?
‘Direct’ or ‘Indirect’ – The messages are explicit and straight in the ‘Direct’ style. However, in the ‘Indirect’ style, the messages are more implicit & contextual.
‘Elaborate’ or ‘Exact’ or ‘Succinct’ – In the ‘Elaborate’ style, the speaker talks a lot & repeats many times. In the ‘Exact’ style, the speaker is precise with minimum repetitions and in the ‘Succinct’ style; the speaker uses fewer words with moderate repetitions & uses nonverbal cues.
‘Contextual’ or ‘Personal’ – In the ‘Contextual’ style, the focus is on the speaker’s title or designation & hierarchical relationships. However, in the ‘Personal’ style, the focus is on the speaker’s individual achievements & there is minimum reference to the hierarchical relationships.
‘Affective’ or ‘Instrumental’ – In the ‘Affective’ style, the communication is more relationship-oriented and listeners need to understand meanings based on nonverbal clues. Whereas in the ‘Instrumental’ style, the speaker is more goal-oriented and uses direct language with minimum nonverbal cues.
What are the important nonverbal cues related to the communication among cross-cultural teams?
Body contact – This refers to the hand gestures (intended / unintended), embracing, hugging, kissing, thumping on the shoulder, firmness of handshakes, etc.
Interpersonal distance – This is about the physical distance between two or more individuals. 18″ is considered an intimate distance, 18″ to 4′ is treated as personal distance, 4′ to 8′ is the acceptable social distance, and 8′ is considered as the public distance.
Artifacts – This refers to the use of tie pins, jewelry, and so on.
Para-language – This is about the speech rate, pitch, and loudness.
Cosmetics – This is about the use powder, fragrance, deodorants, etc.
Time symbolism – This is about the appropriateness of time. For example, when is the proper time to call, when to start, when to finish, etc. because different countries are in different time zones.
Karatbars International is an E commerce company. They do, however, offer a very lucrative affiliate rewards program. They are NOT considered MLM. The difference is very clear. The Company has zero sponsorship requirements or monthly purchase requirements in order to earn commissions.
Karatbars International has gained much attention for their ways to earn income opportunity, especially their 12 Week Plan to Financial Wealth. There are some very real concerns about starting or participating in this business. In this article, we will go through and give an unbiased review of the pros and cons of the business, and see if they are a great business opportunity… or a great rip-off.
Karatbars International – The Good
Karatbars International was founded in 2011. They are a company which offers an attractive and affordable option for the consumer to purchase 999.9 24K pure gold bullion per gram, as well as their specialty lines of gold merchandising, collector & gift cards. This company offers the consumer an independence to own, manage & control their personal purchases. They are providing an opportunity for everyone worldwide to own gold at an affordable price point.
The headquarters and the logistics center of the company is located in Stuttgart, Germany. It is responsible for the support, marketing, customer and partner communication, execution and delivery of orders. Their Headquarters also co-ordinates the launch of new countries throughout Europe.
Karatbars International offers its customers several storage options:
* Storage Prosegur (free) – Frankfurt Neu-Isenburg
* Storage Switzerland (charged) – A direct contract with the Swiss company
* Storage Singapore (charged) – A direct contract with the Singapore company
Deliveries in smaller quantities are packaged under video surveillance at the home of Karatbars International and shipped via FedEx daily.
The affiliates can refer others to an online Gold Savings Plan and earn commissions whether or not they personally purchase their products.
Karatbars International – The Concern
Whether or not Karatbars International is a good business opportunity, it is clear to say that the most valuable assets are precious metals.
Several people are referring to Karatbars International’s gold product as LBMA certified gold. Please note, the LBMA does not certify gold, they certify the refinery.
This Company claims to be the only company that will buy back an affiliate’s gold.
Karatbars International – Ugly
Karatbars International, like many other online companies, teach their distributors to leverage their “warm market”, friends, family and/or anyone you bump into. However, when a new distributor comes talking to their friends and family about making a tremendous income with a business opportunity… and the distributor is not making any money… there is a credibility issue that occurs, and the distributor is positioned as a gopher for someone else’s business.
Growing this business can be a great opportunity. They appear to have a good service. There are plenty of companies that offer purchasing gold online but you must be aware:
* Is the Gold 999.99 24K pure
* Where are the Gold Refineries that are producing the Gold
* Is the Gold Refinery LBMA Certified
* Does the Company have free storage
* Will the company buy the gold back(this is huge)
In closing, I would say that starting and developing a Karatbars International business is lucrative if you know how to effectively use the telephone, the Internet, and other effective marketing tools. Many people who market great products never make a dime. It is not a rip-off, but like any business, success will be determined by the skill-set of the marketer. This Company is definitely not a lottery ticket or a stock option – meaning, you do not just exchange your currency to gold and wait for a payout.
The difference is the marketer, and their ability to target their market effectively to others, that this makes sense to. If someone does not have the first clue on how to market effectively, then I would suggest they either learn how to be an effective marketer, or just use Karatbars International as a way to effectively move your money from one pocket(Financial Institution) to a more secure pocket for the means of protecting your assets; as a hedge.
This article can be freely published on a website as long as it is not modified in any way including the author byline and active hyperlinks.
Vickie Smith is a professional marketer and has marketed numerous of different products and services. To find out more about Vickie and how she has exported precious metals Internationally and how she is now using her education, knowledge and journey in helping others reach their life’s financial potential, you can go… here.
SIIB: Admissions open for 2016-2018 batch
When it comes to planning their post graduation, there are very few who can actually think beyond the obvious MBA in general management. However, with the dawning of the era of specialisation, this trend seems to be changing. An increasing number of people are on the lookout for career opportunities that are interesting as well as rewarding. After all, job satisfaction is primary but you still need to stash some cash for the life ahead, isn’t it. Well, Symbiosis Institute of International Business could be your key to realising this dream of building a career that sets you apart from the league of the ordinary.
What courses does it offer?
Currently, SIIB offers three different courses. The MBA in International Business is a two year program that focuses on giving the students a fair idea about the globalised business scenario. First things first, business today is no longer restricted by its location. Irrespective of the area in which you are located, you can actually take your business throughout the globe. This indicates the steady growth of international business and so the modern day managers are expected to have the capacity to think global yet act local. This is exactly what the MBA program by SIIB focuses on. Through its two year course, SIIB introduces students to the various aspects of international business talking about everything from the rules to the laws and the benefits.
Moving on, the other interesting option at SIIB is the MBA in Agribusiness. In spite of being an economy driven by agriculture, we are unable to utilise the potential of this sector simply due to the lack of proper training. SIIB plans to change all of that with its two year MBA in Agribusiness course. As you would have already guessed it, the program is focused on understanding and practicing agriculture as a growing and popular form of business.
Lastly, students at SIIB can also pursue the MBA in Energy business which is a niche field that focuses on understanding the nuances of the energy practices and best possible options for students when they evolve into professional managers.
Each program includes training which is certified according to the dynamic industry standards. Additionally, as part of the course, SIIB encourages students to take up internship with leading organizations. This actually acts as an eye opener because it is at this stage that students realise their true calling.
The Admission process for SIIB starts with the SNAP test. It is important for students to register for the SNAP test and follow it by an individual registration with the institution as well. Once the confirmation is received, the SNAP score of the applicant is sent to the institute. If shortlisted, candidates are invited for the round of group discussion and interview that follows. It is the combined score that actually decides the fate of the admission. Therefore, it is important for the student to focus on clearing all aspects.
The International Business or PGDM–IBM,a two-year long full time program,offered by FORE School of Management, the Delhi based premium B-School, has been designed keeping in mind the global economic situation and its challenges faced by corporate or any family business engaged in International business operations. With an aim to create next generation business-leaders capable of impacting the dynamic business scenario and contribute towards making the global eco-system healthier,the International Business Management program is designed to prepare future managers equipped with a strong foundation in concepts ofInternational Regulations & WTO, Policies & Laws, Cultural &Socio-economic issues; logistics, Documentation and Export-Import procedures, Data Security in International Business scenario, Global Supply Chain Management, International HRM. An International Immersion program is a part of the course, familiarizes students with global policies, practices, and cultures as they visit &interact with global organizations.
Profiles that are on the offer during campus drives to PGDBM IBM students are in the sphere of Global Sales, Strategic Marketingand Business Data Analysts. FORE boasts of a 100 plus list of respectable organizations for campus placements. MNCs like Tecnova, Renewable Woods, Michael Page International, Honeywell, Royal Bank of Scotland, Pitney Bowes, Deloitte, Thomas Cook, TNS Global, Continental Corporation recruit from FORE.
“The demand in skills and the complexity of business is growing manifold. Knowledge of global business environment and international policies will be business critical factor. In order to have a competitive edge in this disruptive environment one has to move on from local to ‘glo-cal’ business understanding”, mentioned Dr. Jitendra K Das, Director, FORE School of Management, New Delhi.
Highest average package offered last year was Rs. 18 lacsp.a while the average package being Rs 8.2 lacs. CAT/XAT/GMAT score is apparently the primary benchmark for selection but weightage is distributed to other skill sets and great deal of emphasis is given towards profiling cognitive abilities, managerial qualities and latent business leadership talents.More information can be obtained from admission office at 011 41242415;
The programme has been designed keeping in mind the global economic situation and related challenges faced by corporates or family businesses engaged in international business. It is aimed at preparing future managers with knowledge of international regulations and WTO, policies and laws, cultural and socioeconomic issues, logistics, documentation and export-import procedures, data security in international business scenario, global supply chain management, and international HRM. An international immersion programme is a part of the course to familiarise students with global policies, practices, and cultures as they visit and interact with global organizations.
The international business management graduate certificate program helps students prepare for managing international business issues. A strong emphasis is laid on strategic areas of international marketing, IB law, international banking and finance, IB plan development, and global logistics and business research and analysis. In addition, the program covers various other subjects including business communication, comparative geopolitical systems, corporate social responsibility and international entrepreneurship.
The students of this program are prepared to work with IBO as international development assistants, international marketing representatives, commercial bank officers, foreign trade consultants and foreign investment and risk analysts. They study about international markets and the trends in world trade and develop skills required to operate in an ever-changing business environment.
The certificate program offers an in-depth understanding in business development, small to medium-sized international entrepreneurship and international trade and investment. The professionals who are in career transition or are looking for more advanced career opportunities can consider enrolling in this program. This short but intensive course helps them gain solid foundation in IB practice and practical industry experience through the industry field placement.
Studying International Business Management in Canada
Although many Canadian colleges offer this course but not all provide industry exposure, which is a necessary requirement to seek employment with international organizations. It is of utmost importance for interested candidates to choose the right program and the college. Only reputed colleges offer strong employment prospects upon course completion.
Centennial College’s one year program in international business management is considered as one of the most prestigious courses in Canada. It not only helps students build strong foundation in IB but also covers specialized and industry valued courses. In addition, the students also get an opportunity to further develop their skills through a field placement in a real world setting.
Moreover, the program includes an extensive use of case studies, simulations, presentations and project-based learning. Apart from this, there is an emphasis on the use of computer education and technology and development of communication, teamwork and report writing skills, which are necessary for career success in the current international business environment.
Applying for an International Business Management Graduate Certificate Program
Centennial College accepts students who have earned previous university degree or diploma and/or possess business experience. Students from a variety of backgrounds, such as arts, humanities, commerce or technical backgrounds can apply for this program, as it enables them to be at par with the latest theoretical and practical aspects of global business in just one year.
Candidates with partial post-secondary education (minimum two years of college education or a partial university degree) and relevant experience (minimum two years of work experience) can also apply for this program. Apart from this, all the candidates are required to produce a proof of English proficiency.
The program graduates can either choose to pursue their careers and seek employment in diverse industry sectors or apply their academic rewards towards further studies at the university. They can apply for a Master’s degree program with the institutes or universities associated with the college.