globalEDGE Blog Archive February 2010

The US Department of Commerce and United Parcel Service (UPS) have announced that they will work together in attempts to increase US exports. They are hoping to increase local jobs by expanding businesses internationally. This may seem contradictory, but the hope is that small and medium sized businesses will be able to find new markets to thrive in internationally, therefore increasing the need for jobs back home.

A recent blog triggered some thoughts about how the Olympics today now represent a a joining of countries and economies in a rather harmonious ritual in which people put aside differences to compete under a common set of rules.

Are you interested in learning about the growing areas of patient healthcare and water and waste management and how to take advantage as an exporter? Rapidly-growing economies, strong ties with the United States, and major public health needs put the Gulf Region among the world's most promising markets for U.S. suppliers. To help U.S. firms leverage opportunities in these markets, a senior-level Department of Commerce official will lead a trade mission to Riyadh and Jeddah, Saudi Arabia and Doha, Qatar, June 5-10, 2010.

With a strong growing demand for healthcare and water and waste management this mission will be important for any exporter looking to expand into the Gulf Region. Don't miss out on this great opportunity! Apply by March 31st, 2010!

You finally landed a job in these tough economic times and now you are learning your new role, meeting new people, getting used to environment and trying not to get lost on your way to the copy room. The last thing on your mind is the fact that in today's world anyone can be held accountable if there is a corporate scandal. Therefore, it is crucial that you familiarize yourself with your company's expectations, policies, and regulations. Whether working at your home country or in a foreign place, knowing the particular ethics code of the company can save your job.

Lately, Qatar has been working hard to become a distinct country with a refreshed vision. As a matter of fact, its leadership has begun implementing a plan which will help the country arrive at significant goals and transform by the year 2030. In a conversation between Doug Barry, a U.S.-based International Trade Specialist at the Commercial Service and Dao Le, a Qatar-based U.S. diplomat, some of the opportunities for United States Businesses were outlined.

In a new market, including overseas, it can be tough to build a stable reputation. The initial interaction someone has with your company, products, and services, establishes a first impression. With that in mind, I’d like to give you some pointers for shaping your brand internationally.

Vancouver, Canada; London, United Kingdom; Sochi, Russia… but who’s next? It is no doubt that the International Olympic Committee faces peer pressure when deciding upon the city that will host future Olympics, but why so much competition between nations?

In recent news, the world’s second largest retailer, Carrefour, has elected to invest further in its international investment.  Known for stringent regulations in the retail industry, India has traditionally protected the smaller, independent markets and local communities that run them. Carrefour’s entrance provides a great case study of the importance of understanding the international market where a firm expands. Lets take a brief look at the conditions in India that Carrefour became familiar with before “cracking the code."

There are a few key observations that many have noticed about consumers in this new economy:

• Shoppers are less impulsive, more needs-based

Some say the recession made a correction in consumer behavior especially in the U.S. The means simply aren’t there for as much shopping on impulse. Those adjusting to changing consumer behavior are advised to in turn adjust their merchandise mix and price points accordingly.

Recently, P.S. Surana, founder of Surana & Surana International Attorneys, released the book, “Uruguay-India: on trade and links.” In the book, he states that Uruguay presents a “wonderful, little explored opportunity for Indian businessmen.” Is there any truth to this? And if so, what makes Uruguay and India so right for one another for trade opportunities?

The fashion industry makes up a major portion of the retail around the world. Fashion retailers are found in every country, each one trying to have the latest trends at the best price. However, this is much more difficult than it may sound. There are people working ‘round the clock to ensure that fashion retailers know what is going to sell next.

Stores Magazine provides the Top 250 Global Retailers list made in 2010 using revenues from 2008. The combination of great marketing, good customer service, and the ability to reach multiple demographics, has shaped these companies into the successful international businesses they are today:

It's time for our readership to be rewarded with yet another blog series! This week's series will be focusing on contemporary issues in the retail industry  The topcs we'll be covering include an overview of the top global firms in the retail business, a look at the ever-so-fashionable fashion industry, consumers, and last-but-not-least, purchasing behavior, and how consumers are shopping in new, different ways.

The business of online dating has been around for years and while it works for some, others find it intimidating or impersonal. Therefore, Gao Shan had a new creating idea. He opened a market called "I'm Looking For You" in Beijing.

With the 2010 Winter Olympics beginning today, the world looks on with anticipation. The first ever Olympic Games were held way back in 776 BC. Since then, things have obviously changed quite a bit. Everything from the events, to who competes in them, to how we watch them has drastically changed. Until 1960 the Olympics were not televised, but since then businesses all over the globe have taken advantage of the major publicity the Games receive.

With the earthquake disaster in Haiti a few weeks ago, a tremendous outpouring of various forms of aide from around the world has been deployed to the country. Organizations and individuals alike have devoted financial and human resources to help get the country back on its feet. In light of the disaster, technology has come to the forefront and demonstrated the power of world networks. In this case, the use of technology has been paramount in raising financial support for the disaster.

Collecting, compiling, and organizing international business data is difficult and costly. Many scholars and firms do not have the resources necessary to conduct rigorous international business research. Finding comparable time series data is also a labor intensive task. These complexities often mean that international business studies include a smaller sample of countries and firms, often without the desirable power and quality. Have you ever been assigned a research project and don't know where to start? Are you looking for key statistics about a country when deciding whether or not to expand your business there? Look no further than globalEDGE's Database of International Business Statistics!

The Database of International Business Statistics (DIBS) will allieviate much of the stress you will feel when trying to compile all of this data. All of this data is in an easily accesible database, and the best part is, it's free! All you need to do is register. Here's a little sampling of the data (look at all that you can learn using DIBS!):

Many companies launch a new product and enjoy high sales if the product is successful, but somewhere along the line they forget that it will not be as profitable infinitely. The business world today is extremely competitive, especially since there are many products that differentiate very slightly from each other. Therefore, spending some time to think on possible ways to improve a product should constantly be on the daily agenda.

“Ladies and gentlemen welcome aboard flight 283 nonstop service to Tokyo. Our flight time today is 11 hours and 45 minutes. Please make sure that all carry-on items are....”

It’s no secret that large corporations have been under speculation for overspending on top executives. Extravagant trips and parties for these executives seem to be a thing of the past, at least for the time being. Once it was leaked how some executives were being treated, companies began to cut back. In the fall of 2008 there was a major drop in business travel which hurt the hotel and flight industries. Will it ever bounce back to where it was, or are companies looking at other options?

Now is the time to think about ways to expand your international sales!  The United States Department of Commerce, International Trade Administration has just started a new series of webinars to help businesspeople learn about topics ranging from identifying new international markets to understanding export controls.

Are you an American small business owner? Here's an interesting fact for you: 95% of your prospects live outside the U.S. But you're just a small and measly company, how could you possibly access this vast global demand? Why the internet of course! You usually don't think of selling a product online as exporting, but it is. Starting small is a great way to go, but as a small firm if you want to grow, you may need a lot of help. How exactly do you develop and excecute a comprehensive exporting plan without much knowledge?

It is finally here! China recently opened a chocolate theme park in Beijing. It contains five indoor pavilions with controlled temperature so that the chocolate does not melt as well as two outdoor sites. They offer displays of various chocolate made objects such as replicas of the Terracotta Army, the Great Wall, famous paintings, and other items such as shoes or sports equipment, and a full size BMW. Tina Cheng, who will be operating the park, said that visitors will be offered a full chocolate experience - they will be able to see, touch, taste, and purchase the different chocolate items.