There are Great Opportunities to Conduct Business Abroad

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By recognizing that borders still matter, says Pankaj Ghemawat, author of World 3.0:  Global Prosperity and How to Achieve It, companies can better calibrate which markets and trading partners offer the best chance for truly global gains -- further clarifying that there are great opportunities to do business abroad.

Read the entire article:

Creating a Smart Export Strategy

Related posts:

The Regional Slice of Your Global Strategy (2/4/06)

Redefining Global Strategy (8/17/07)

Posted by:  The Global Small Business Blog

Memorial Day: Coming Together Globally To Honor Those Who Gave Their All

©Laurel Delaney

Remembering those who have died in our nation's service.  Memorial Day in the United States is observed on the last Monday of May (May 30, 2011).

Back with you on Tuesday, May 31st.

Top Dubai SME Exporting Awards

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Dubai Chamber of Commerce and Industry honored the top export performing companies during SME Exporter of the Month recognition ceremony held at the Chamber facility.

Certificates of Recognition and the SME Exporter of the Month trophies went to:

1. Afegra Middle East FZE as a start-up company with the highest invoice value for the month of February.
2. Lisec Middle East Ltd FZE as most progressing company with the highest export growth rate during 2011.
3. Meka Emirates Trading for achieving the highest total invoice value during April 2011.

"More than 90 per cent of businesses in Dubai are SMEs and so their success and performance is vital to the overall health of Dubai’s economy," says Dr. Belaid Rettab, Senior Director, Economic Research and Sustainable Business Development.

Read more about the top Dubai export honors here.

Quote of the Week: Donald Murray

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 Resources Global CEO Donald Murray (not pictured)
"We currently see more upside in China from new emerging companies that are going global." ~

See how Resources Global (RG), a unit of Irvine, California-based Resources Connection Inc. (Hoover's listing here), assigns its 3,000 full-time consultants spanning across four continents to work on clients' projects.

Resources Global Eyes Chinese Firms Going Global

RG competes with Deloitte, KPMG, Ernst and Young and Accenture.  Too bad there is no global small business practice.

Posted by:  The Global Small Business Blog

Biggest Barriers to Global Communications: Culture and Language

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According to a study commissioned by the Public Relations Global Network, one of the top international networks of independent public relations agencies, organization surveyed indicated that the biggest barriers to global communication were culture and language, each cited by more than 40 percent of respondents.

That and one other interesting finding:

... even organizations that are not operating globally today said that they expect to have a global marketing communications function in the future,” said Francine Robbens, PRGN president and partner at Brussels-based PRP-Public Relations Partners.  “Communications professionals see clear benefits in fostering global relationships.” 

Read the entire news piece:  Marketing Executives Going Global:  Survey

Mad About Trade and By Golly, I Am Going To Do Something About It!

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Okay, first things first, I have not read this book, just love the idea of it because I have always felt there is value in international trade.  I am so pro-global trade, can't you tell?  International trade expert Daniel T. Griswold, director of the Cato Institute's trade policy center, makes a persuasive case against U.S. protectionism.

Mad About Trade appears to be a readable and enjoyable defense of free trade which tells the (debated) story of how a more global U.S. economy has created better jobs and higher living standards for American workers.

That said, it might be worth a serious look.

Mad About Trade:  Why Main Street America Should Embrace Globalization

Related article: Free or Protected Trade?

Posted by: The Global Small Business Blog

Reinventing the World of 'Cars'

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“Wherever you can go in our world, we can go in the world of ‘Cars.’” ~ Director John Lasseter

... it was during the international publicity tour for “Cars” that the director first imagined his car-cast in a global setting. Lasseter says he took in the mayhem of international locales like Tokyo and Paris laughed to himself thinking, “what would Mater do?” “The story of ‘Cars 2′ was sparked by the idea of taking Lightning McQueen and Mater overseas,” says Lasseter. “Lighting McQueen is invited to compete in the World Grand Prix to race against the fastest cars in the world in three fantastic locations: Japan (shown above), Italy and the U.K. Of course Mater, who has never left Radiator Springs, is completely out of place in these distinctive cultures, which leads to hilarious comedic moments.”

Read the entire spread (it's phenomenal in terms of the color graphics and the historical aspect of taking 'Cars' global):  Pixar's 25th Anniversary/CARS 2:  Going Global

Tiptoeing Through Tulips Today, Tomorrow and Tuesday

©Laurel Delaney

"Life isn't a tiptoe through the tulips." ~ Shannon Hoon

Enjoy your weekend!

Understand the Demands of Customers in Global Markets

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Building strong emotional bonds between consumers and Chinese brands remains a work in progress.  Take Haier (Haier America), for example, which ramped up efforts to go global in 1999.

It sold niche products such as small refrigerators to college students and wine cellars, and opened manufacturing plants in the U.S. and elsewhere to bring production centers closer to priority consumer markets.  Haier has distinguished itself among Chinese companies in efforts to build a global brand.

Understanding the demands of customers in global markets is just one of the many challenges Chinese companies face in light of increased global competition and operating in a fast, interconnected world.

Learn what other challenges lie ahead for Chinese companies here.

Related post:  Why China Has So Few Good Brands

Be Ready If Your Product Hits It Big Globally

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The article below is confusing but touches on a few key points when it comes to expanding your business internationally.

For example:

Companies should develop what moderator and paid Content Executive Editor Ernie Sander called “the inverse of a disaster plan:"  Track the numbers and be ready if your product hits it big globally. “A lot of companies aren’t ready and when it happens they can’t take advantage of that momentum. They collapse,” said Jones—that hasn’t happened at Zynga because they tracked usage data closely and had plans in place.

As I said, a bit confusing but there are a couple of insights that are worth searching for.

Best Global Strategy Means Local Partners and Low Prices

Posted by:  The Global Small Business Blog

More Irony....

If you caught 60 minutes Sunday, one of the segments mentioned that Gen. Musharraf, the former president of Pakistan was told that bin Laden was located near a town that turned out to be 12 miles from his compound. This would have taken place prior to his visit and check-up with Dr. A.J. Hashmi at PRMC. You wonder if his “meeting an old friend” would have brought that up.



A.J.'s recent venture into politics in Paris is noteable for at least one thing: When was the last time a cardiologist made housecalls???



Apparently there is to be a runoff, wonder if the General could drop in and lend support for his bff???

A Profit Lesson for Global Small Businesses

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Wal-Mart appears to be experiencing international growing pains.  Their strategy for driving global growth is working from a sales stand point but not necessarily from a profit or ease of doing business aspect.

... there’s a big problem with that growth strategy: operating margins are significantly worse internationally then they are in the U.S. In this quarter, U.S. operating margins came in at 7.42%, versus 3.93% for international operating margins. And after taking out currency effects, international operating income fell 3.3% year over year.

The lesson for global small businesses:  Monitor your operating margins country to country.   You may not be the size of Wal-Mart yet this is a common problem for any sized business operating internationally.  Keep your profits strong and healthy worldwide.
 
Read more here.

Entering New Foreign Markets Can be Hopefully Bureaucratic

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Agree or disagree?  That is the question.  And Michigan businesses in U.S.A. address the answer.

The article highlights six common myths (misperceptions) about what it takes to pick up overseas business, and advice on addressing the underlying issues.

Border crossing:  Michigan companies going global find benefits can top barriers

Inaugurating New Mayor of Global City Chicago

©Laurel Delaney.  All rights reserved.

©Laurel Delaney.  All rights reserved.

Before Rahm Emanuel (pictured above) officially becomes Mayor of global city Chicago -- any minute now -- ... a picture taken of him October 23, 2010 at the Apple store opening Lincoln Park, Chicago.

The Global Aspect of Business

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The Pennsylvania School for Global Entrepreneurship (PSGE) at Lehigh University (Bethlehem, Pennsylvania) brings American high school students (ages 15-18) together with International high school students from all regions of the world for a five-week residential global learning experience.

The purpose of the PSGE program is to expose students to the topics of entrepreneurship, globalization, team building, project management, leadership and working within a culturally diverse environment and to ignite the students’ spirit of creativity, innovation and learning.  

This makes me so happy to see!  The notion of getting people interested in entrepreneurship and globalization at a young age is fantastic.

How to qualify?

The program is open to all current high school sophomores and juniors (ages 15-18).  Application to PSGE is a competitive process. The selection committee evaluates each application individually, and looks for evidence of academic ability, leadership, entrepreneurship, and community service.  Students of any nationality are welcome to apply.  To date, the program has had participation from international students representing Afghanistan, Antigua Barbuda, Argentina, Australia, Belarus, Brazil, Bulgaria, Canada, China, Columbia, Czech Republic, Denmark, England, Germany, Ghana, Greece, Guatemala, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Jordan, Kazakhstan, Korea, Kuwait, Malaysia, Mexico, Moldova, Netherlands, Palestine, Panama, Peru, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, Turkey, Ukraine, Vietnam, and Zimbabwe.

Get involved!  Learn more here.

Download applications:

•  International

•  United States

Spring Has Sprung: Free Screensaver For Everyone on the Planet!

©Laurel Delaney.  All rights reserved.

"Every spring is the only spring - a perpetual astonishment." ~ Ellis Peters

Posted by:  The Global Small Business Blog

Transitioning Your Illinois Business From Local to Global

©Laurel Delaney.  All rights reserved.

If you operate an Illinois-based company, the link below is right up your alley!  It covers where to turn for help in taking your business from local to global.

Read:

Starter Kit for Illinois Businesses Looking to Export
by Laurel Delaney, for Crain's Chicago Business

Posted by:  The Global Small Business Blog

Note:  We are experiencing some technical problems with our blog platform.  If you encounter a delay in posts, that's the reason.

How to Attract International Visitors to Your Local Business

©Laurel Delaney.  All rights reserved.

Once upon a time there was a woman business owner who claimed her little cupcake shop in Chicago was drying up.

She bakes cupcakes from scratch in every imaginable flavor and size from her small bakery ...

Find out how she can increase sales and profitability so her business doesn’t shrivel up and even take her business to a whole new level (global).

Read my latest contribution:  From Cupcakes to Moneycakes:  3 Ways To Increase Sales and Profitability published at the American Express OPEN Forum via Small Business Trends

Posted by:  The Global Small Business Blog

Tariff on Pistachios in India

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How to reduce the tariff on pistachios in India?

High tariffs can stagnate an otherwise ripe market. There is no better example than the tariff on pistachios in India, which, until this year, carried one of the highest pistachio tariffs in the world at just over 30 percent.

What happened?

Ultimately the combination of commercial and governmental advocacy, diplomatic efforts, and an India-focused approach paid off, and nearly two months ago Indian leadership reduced the tariff on pistachios from 30 percent to 10 percent. This news resulted in tremendous excitement ...

Read more here.

Posted by:  The Global Small Business Blog

How to Take Your Business to the Next Level By Going Global

Global Entrepreneurship: Born Out of Necessity?

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What really drives economic growth?  Many think its entrepreneurship and that entrepreneurship the world over is oftentimes driven by necessity.

But according to the Global Entrepreneurship Monitor:

... economic growth is not driven by these “necessity” entrepreneurs, who decrease in number as the economy develops. The key to fostering growth is to support “opportunity” entrepreneurs, who choose to start new enterprises in response to market needs.

Read this intriguing article, "Does Entrepreneurship Drive Economic Growth? - Megacities - Opportunities at Urban Edges" published by Forbes.

Related piece:  "Do Entrepreneurs in the Developing World Fuel Economic Growth?"

How to Inject Fresh Energy Into the Royal Family: Practice Entrepreneurship

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Enlightening commentary by John Berlau for The Wall Street Journal titled, "The Entrepreneurs' Princess."  The reason I find it enlightening is that speaks about how Kate Middleton's family embody a noble tradition of their own:

... a tradition of bettering oneself and one's family while improving the lot of society.

In other words, entrepreneurship.

Learn more about the story of the Middletons rise to wealth and its implications for British culture, public policy and the world at large.  It's a wonderful read.

And while you are at it, visit Carole Middleton's family business:  PartyPieces.co.uk

Meet Zaha Hadid Architects

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Built globally and built to work.  From the UK to Austria to Japan -- these folks get around and produce magnificent structures the world over.

Zaha Hadid Architects

Global Presence: 2013 Chevrolet Malibu Launch from South Korea

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Designed with global sales in mind, the 2013 Chevrolet Malibu will make South Korea one of it's assembly homes and distribution points, further increasing the brand's global presence.

What do Fairfax, Kansas and Hamtramck, Michigan, and Jingjao, China have in common with Bupyeong, South Korea? All four sites will be responsible for building the 2013 Chevrolet Malibu, although the Korean facility will be the first to assemble the all-new sedan.

Read all about it here.

Note:  Bupyeong-gu is one of the ten administrative divisions (eight wards and two counties) that comprise Incheon, South Korea.  Bupyeong-gu comprises an area of 12.35 square miles (31.98 square km), and has a population of 553,961

Women's Hands Perform 66% of the World's Work

Canadian SMEs Say: "Do Away With Trade Barriers to Ensure Global Competitiveness"

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Looks like we have our work cut out for us here.  Based on a survey by Angus Reid for UPS Canada:

While the quarterly survey, conducted by Angus Reid for UPS Canada, shows "high level of optimism" about Canada's international competitiveness, 27 per cent of respondents have never considered exporting, believing that there's no market outside the country for their products, while 20 per cent don't believe they can compete with countries such as China, India and Brazil.

Learn more here.  Press release here.

The New Economic Era: China's Entrepreneurs

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Find out how the Chinese are making entrepreneurship a way of life.

According to China Macro Finance, a research firm in New York, the number of registered private businesses grew by more than 30% a year between 2000 and 2009 (see chart above). The gross figure (ie, before netting off firms that closed) was at least seven percentage points higher, estimates Ronald Schramm, China Macro Finance’s managing director.

 Read the entire article here.