globalEDGE Business Beat with guest Tomas Hult
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 07, 2019
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on the world’s global efficiency and the downturn that started in 2011 and became costly in 2016 and on. International production, strategic global investments, and the infrastructure design of the global economy are all a function of driving satisfaction among a company’s customers.
In brief, the value of world trade has grown consistently faster than the growth rate in the world economy since 1960, and it has been much higher since the turn of the century. Since 2000, trade across country borders has been at least double the total production of all countries combined. By 2020, we expect the value of world trade to be about 167 times larger than it was in 1960, whereas the world economy will be only 65 times larger. The troubling part is that for the first time in seven years, we expect the world’s “global efficiency ratio” to go below 2.60 by the time all calculations are done for 2018, and then become lower in 2019 and 2020 (2.57 to 2.59). What does this mean? Unfortunately, the combination of escalated trade wars using tariffs as the strategy and the dramatic growth in cross-border trade since 2000 relative to total world production spells serious problems.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 07, 2019
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on internationalization at the nation’s community colleges.
The 2019 Benchmarking Report on International Business Education at Community Colleges was released in January 2019 by MSU’s International Business Center. The report provides an assessment of current internationalization efforts at community colleges and efforts that need to be planned to ensure that the US stays internationally competitive in workforce development.
The 2019 benchmark shows an increase in internationalization optimism on community college campuses and in programming. The expectation is that community colleges will internationalize 24 percent of their programs and activities by 2029. Importantly, at 11 percent today, community colleges have made significant strategic strides to internationalize their programming in the last decade, up from about 4 percent internationalization in 2009. The 16-page 2019 Benchmarking Report can be downloaded free at global.broad.msu.edu/ibc/research and a presentation of the results and implications can be found at YouTube.com/TomasHult.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 07, 2019
This segment of globalEDGE Business Beat focuses on who we are as MSU’s International Business Center. The segment builds on the two-pager that the center has as an overview for interested parties. Broadly, The International Business Center (IBC) in the Broad College of Business at Michigan State University was designated in 1990 as a National Resource Center by the U.S. Department of Education (i.e., a Center for International Business Education and Research). Our mission is to provide superior education, research, and assistance to businesses, public policy makers, academics, and students on international business and trade.
The IBC positions the Broad College as the top knowledge generator in international business research, guiding MSU’s path to thinking globally in more than 170 countries. Beyond running MSU’s international business minor and facilitating a global mindset of all Broad College students, IBC collaborates with Broad College faculty to secure grants for international research and outreach.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 07, 2019
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on MSU’s International Business Center being funded by the US Department of Education to help the country become more internationally competitive.
As an overview, the International Business Center in MSU’s Broad College of Business is delighted that the Center has again was awarded a grant by the U.S. Department of Education to continue to operate a Center for International Business Education and Research (CIBER). MSU is the only university in Michigan, one of three in the Big Ten, and one of only 15 universities in the country given this privilege. Through grant and matching funds, the $3.3 million project for 2018-2022 is titled “Strategic and Sustainable Value Chains for Increased International Competitiveness.” This value chain perspective – with MSU being top-ranked in supply chain management (US News 2018) – provides CIBER with a synergistic role within the Broad College and at MSU.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 07, 2019
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat focuses on how MSU’s International Business Center serves Michigan and the Nation’s companies and educators, and provides prestigious leadership around the world through the Academy of International Business.
The regional impact of IBC in the last year has been tremendous. Under the auspices of IBC’s Michigan Export Growth Program (global.broad.msu.edu/MEGP), in the last year, the center participated in 30 business outreach programs involving 4,474 business people. IBC also engaged in 45 educational programs involving 2,336 higher education participants (four-year institutions and community colleges), ultimately impacting 154,980 students nationwide. Also, 168 companies received IBC market research reports through the Michigan Export Growth Program and attended events/trainings organized by Global Business Club of Mid-Michigan.
In 2018, these companies collectively generated $105.5 million in new export sales by achieving 939 new international market entries to 112 countries. It is estimated that one job is created for every $210,000 in export sales. So, these companies created an estimated 502 additional jobs in the state of Michigan during the 2018 fiscal year.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 07, 2019
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat provides a brief overview of the tremendous team in the International Business Center in the Broad College of Business at Michigan State University.
In alphabetical order, highlighted are: Ronda Bunnell (Educational Programs Coordinator), Anne Hoekman (Editorial Manager), Tomas Hult (Director, Professor, and Byington Endowed Chair), Kathy Kiessling (Program Services Coordinator), Irem Kiyak (Associate Director), Tunga Kiyak (Managing Director), Erkan Kocas (Trade Specialist), Jade Sims (Trade Specialist), Dan Rosplock Communications Coordinator), Jamie Rytlewski (IT Consultant), and Sarah Singer (Assistant Director and Education Abroad Director). More about the IBC Team can be found on our web pages at https://global.broad.msu.edu/ibc/team.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: November 09, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat highlights some of the discussion at the World Investment Forum 2018. Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University. International production, strategic global investments, and the infrastructure design of global supply chains are all a function of driving satisfaction among a company’s customers (and perhaps some can argue satisfaction among a country’s citizens).
To practically highlight some of these issues globally, this segment incorporates my take on global trade and production as well as several highlights from the recent World Investment Forum in Geneva, Switzerland that took place October 22-26, 2018. The commentaries include Mukhisa Kituyi, Secretary General of UNCTAD; Alain Berset, President of Switzerland; Maria Fernanda Espinosa Garces, President of the 73rd Session of the UN General Assembly; Michael Moller, Director-General of the UN Office at Geneva; Gabriela Cuevas Barron, Interparliamentary Union President; and Nandini Sukumar, CEO of the World Federation of Exchanges. Interestingly, the highlights also include a dialogue between Mukhisa Kituyi, Secretary General of UNCTAD and Sophia, the first Humanoid Robot to be invited to the World Investment Forum.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: October 12, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “US heading toward an economy with unsatisfied customers — and voters.” Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University. Dr. Hult also published this piece as a an op-ed article in The Hill, with the same title, on September 18, 2018 together with Dr. Forrest Morgeson, a clinical professor in MSU’s Broad College of Business. The focus of the segment is the likely scenarios of what will happen to the economy now when customer satisfaction is relatively high, unemployment the lowest it has been in about seven years, and lots of people are switching jobs. It sounds too good to be true, perhaps, and the intersection of these positive data points has implications.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: October 12, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “Creating a sustainable strategy for sustainability efforts.” Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University. Dr. Hult also published this piece as a an op-ed article in The Hill, with the same title, on September 24, 2018. The focus of the segment is on sustainability and how much cost/expenses that customers, companies, and countries are willing to take on to be more sustainable. This segment follows previous opinion segments and interviews on the globalEDGE Business Beat on the topic of sustainability. It tackles sustainability within the architectural framework of the United Nations’ Sustainable Development Goals, a topic that Dr. Hult as spoken about at the 2016 World Investment Forum in Nairobi, Kenya, and will be a keynote on at the 2018 World Investment Forum in Geneva, Switzerland on October 26, 2018.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: October 12, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “Trump subsidies are a Band-Aid for farmers, not a solution.” Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University. Dr. Hult also published this piece as a an op-ed article in The Hill, with the same title, on September 24, 2018. The focus of the segment is on international trade, with a specific eye toward President Trump’s $12 billion in farm subsidies and what they may mean for the trading balance and issues with other countries and for the world. A unique side-point with everything that is going on around the world regarding trade – but important one - is that for the first time in seven years, we expect the global efficiency ratio for international trade to go down. In large part, tariffs and subsidies make the globe less efficient and more win-lose oriented.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: September 12, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “Moving from win-win to win-lose trade policy will end in lose-lose.”
Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University.
Dr. Hult also published this piece as an op-ed article in The Hill, with the same title, on August 1, 2018. The focus of the segment is that the value of trade across borders has grown faster than the growth in the cumulative production (GDP) of all countries for more than half a century.
But, as the recent tariff and trade wars have escalated, so has the grimmer outlook for the value of international trade and global efficiencies that the world has been developing over decades. What can we expect?
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: September 12, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “Tariffs' bullwhip effect make its way to US farmers.”
Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University.
Dr. Hult also published this piece as a an op-ed article in The Hill with the same title, on July 27, 2018. The focus of the segment is the trade wars that we are now engaging in leave many global strategists puzzled.
Are policymakers accounting for and really understanding the efficiency dynamics in the global marketplace? What seems difficult to grasp, it appears, is the bullwhip effect that tariffs in one area of the economy have on the massive network of supply chains that U.S. companies are involved in worldwide in other areas.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: September 12, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “It is not easy to be sustainable, but it can be done.”
Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University.
The focus of the segment is basically that sustainability is in vogue today. Almost every corner of society is buying into the idea of being more sustainable. While it is admirable to replace what we use and repair what we harm, leaving the world in a better condition than before, very different views exist on how to do this – and perhaps even why – among customers, companies and countries.
These differing views and goal areas are discussed in this segment, and how we can coordinate policy (countries), strategies (companies) and market needs (customers) to create a more sustainable world.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: August 27, 2018
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an opinion segment on the show titled “Should the U.S. be part of more Regional Trade Agreements?”
Dr. Hult also published this piece as a globalEDGE Blog post, with the same title, on August 24, 2018. It was also featured by the Broad College of Business at Michigan State University.
The focus of the segment is the tremendous “global efficiencies” that can be realized by engaging in more free and fair trade agreements.
After all, we expect the value of world trade to be about 167 times larger in 2020 than it was in 1960, and the world economy to be 65 times larger in the same span. And, the reason trade is carrying more value than what is being manufactured has to do with cultivating global efficiencies. Participating in Regional Trade Agreements is one major driving force in realizing these production efficiencies.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: June 13, 2017
Hosted by Tomas Hult, this segment of the globalEDGE Business Beat is an interview with Sheri Jones who is anchor and reporter for WLNS-TV Channel 6, a CBS and ABC affiliate in Mid-Michigan.
Tomas Hult is Professor and Byington Endowed Chair in the Eli Broad College of Business at Michigan State University.
Sheri has been named as the Women’s Hall of Fame Extraordinary Woman; Citizen of the Year; Woman of the Year; and Community Service Person of the Year, just to name a few awards. In this interview segment,
Sheri shares her experiences and community service working with Habitat for Humanity Capital Region. In some way, Sheri’s community service helps her in her role as a TV News Anchor and Reporter and vice versa.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: February 22, 2017
Since stepping into the Broad College of Business as a faculty member at the start of the new millennium, Dr. Tomas Hult has helped not only to put the college on the global map, but also to shine as a leader in research, thought-leadership, international relations, and scholastic achievements. After nearly 20 years as a member of the Broad College faculty, the last year was perhaps the most significant in his career – though no reason to stop looking ahead at the next game-changing research topic.
Hult is currently professor of marketing and Byington Endowed Chair, as well as the director of the Broad College’s prominent International Business Center (IBC). Hult has stood at the podium before classes of hundreds since joining the Broad College of Business. He began his Broad academic journey as associate professor of marketing and supply chain management. However, his most distinguished achievements – as demonstrated by the past year – are driven by his world-renowned research.
To read the full article, click the link in the title above
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: January 29, 2016
Here you will find a commentary in Fortune, by Tomas Hult, professor of international business at Michigan State University.
The Reserve Bank of India, European Central Bank and People’s Bank of China — which boasts the world’s largest stash of foreign currency — are all growing more influential.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: January 29, 2016
Tomas Hult, Byington Endowed Chair and Professor of International Business at Michigan State University, is the author of the attached article, which was originally published in The Conversation.
News that the People’s Bank of China, the country’s central bank, changed its formula for calculating the reference rate of the yuan (RMB) prompted the currency to fall to a four-year low.
Essentially, the People’s Bank of China is now calculating the reference rate on a daily basis and incorporating market forces. Some financial experts argue that allowing market forces to help determine the value of the yuan is logical, while others assert that China is merely trying to boost its own exporters – at the expense of foreign companies – by making their products relatively cheaper in the global marketplace. Many in the U.S. are concerned that our businesses will be hurt, with some accusing China of currency manipulation.
For the full article, click here.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: January 29, 2016
Tomas Hult, Byington Endowed Chair and Professor of International Business at Michigan State University, is the author of the attached article, which was published in The Conversation.
Back in 2001, former Goldman Sachs chief economist Jim O’Neill coined the acronym BRIC to highlight the immense economic potential of the emerging markets of Brazil, Russia, India and China in the decades to come. They would be the economic engines of tomorrow, he wrote.
The BRICs, which cover a quarter of the world’s landmass and contain 40% of its population, had a combined GDP of US $20 trillion back in 2001. Today these increasingly market-oriented economies boast a GDP of $30 trillion (or 20% of global GDP), a figure forecast to reach $120 trillion by 2050. Together, they control more than 43% of the world’s currency reserves and 20% of its trade..
But times have changed. Every BRIC country is struggling, and the group’s growing footprint means their problems are bad news for the global economy. That’s especially true for the troubles of China, where recent economic gloom triggered a rout in stock markets around the world. All but India’s is now in bear market territory – a decline of at least 20% from its peak.
For the full article, click here.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: January 29, 2016
In an article published in World Economic Forum, and written by Tomas Hult, Byington Endowed Chair, Director of the International Business Center in the Eli Broad College of Business at Michigan State University, and one of the world’s leading authorities on international business, international marketing, strategic management, global supply chains, and complex multinational corporations, Dr. Hult writes about why the U.S. should not worry about China's currency.
News that the People’s Bank of China, the country’s central bank, changed its formula for calculating the reference rate of the yuan (RMB) prompted the currency to fall to a four-year low.
Essentially, the People’s Bank of China is now calculating the reference rate on a daily basis and incorporating market forces. Some financial experts argue that allowing market forces to help determine the value of the yuan is logical, while others assert that China is merely trying to boost its own exporters – at the expense of foreign companies – by making their products relatively cheaper in the global marketplace.
Many in the US are concerned that our businesses will be hurt, with some accusing China of currency manipulation.
The truth is, however, the value of the yuan doesn’t matter that much: China’s swelling middle class and its insatiable demand for foreign (and US) products and services will easily offset the impact from a cheaper yuan. For now, anyway.
For the full article, click here.
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: January 28, 2016
This is a keynote by Dr. Tomas Hult delivered at Leeds University in England in December 2013 on "Global Supply Chain Management: Leveraging Processes, Measurements, and Tools for Strategic Corporate Advantage." The session is based on the 2014 book with the same title authored by Tomas Hult, David Closs, and David Frayer (all at Michigan State University, the top-ranked school for supply chain management).
Speaker: Tomas Hult, Eli Broad College of Business at Michigan State University
Air Date: May 18, 2015
In this segment of the globalEDGE Business Beat on the Michigan Business Network, the gBB host, Tomas Hult, reports on a recent benchmarking study on “Globalization”. The focus is on what companies are currently doing to be competitive in the global business marketplace and what they plan or forecast to do in the next 5 to 20 years to stay competitive.