In return, they received exposure to the network of experts, were invited to workshops and interactive meetings to explore emerging trends and alternative futures, while gaining access to training seminars, a private website and the GBN Book Club, offering a selection of literature about future issues each month. The key principles of scenario planning include thinking from the outside in about the forces in the contextual environment that are driving change, engaging multiple perspectives to identify and interpret those forces, and adopting a long view. The GBN Diaspora[ edit ] Over the years, a number of people have worked at GBN and then taken their skills in scenario planning, facilitation and strategy into other ventures.
As the global village continues to get smaller, you need to be prepared to face differences between countries, markets, economies and human behaviours. International trade will expose you to unique challenges, and you need to answer the following two questions if you want to succeed: If not, what is my plan to get prepared?
Are you ready for the challenges of global trade? Hopefully your research will reveal any barriers to entryas well as whether or not they can be avoided. If they cannot be avoided, then you are definitely better off choosing a different market at an early stage before incurring any additional costs in research or other areas.
Local distributors and agents can bring great value to your research, and can become your eyes and ears in a foreign market. At Canada Topp Co. They discovered three elements which may negatively influence the product quality and acceptance: This distributor was truly our eyes and ears in that market, which enabled us to take the necessary actions to succeed.
Do a simple web search. You will be amazed at how much information is available for free and how much you can learn from it. For example, if you are a punctual person, do not always expect the same from your customer in a foreign market.
Expect delays in some countrieseven if your meeting is scheduled and confirmed. My first meeting in a foreign market was scheduled for 10a. I arrived 10 minutes early with a team of engineers only to learn that the CIO had left the office a few minutes before we arrived because of another meeting with his boss which he forgot about.
I was informed that this is normal and I am bound to face similar situations almost daily, so I better get used to it. Some cultures value punctuality, and it is considered disrespectful and indicative of a lack of interest if you are not on time for your meetings.
It is fair to add that some of the foreign customers I dealt with learned to adjust to my style of being punctual, and treated me with the same respect. Prepare yourself to say no and walk away from the deal. Do not do something behind closed doors that you will regret afterward. More importantly, you need to follow the laws of your own country.
Finally, if bribing someone was the reason you won the business, then you are easily replaced by someone else who is willing to offer more.
Building a long and lasting relationship is fruitful, but it needs to be based on trust and an understanding of the value each party brings. This is especially important in international trade due to the cost and effort associated with foreign market entry.
For example, at my company we always seek long and lasting relationships with qualified distributors who can serve our global brands. In the event that we get a request for a one-time sale, we attempt to turn it into an exclusive contract, but if they are not qualified, the sale is refused.
This helps us to maintain the integrity of our brands, and it perpetuates a healthy relationship with our network of distributors. This also creates a distinguishing factor from the many cheap imitations you are more likely to encounter when you trade internationally.
Do not get frustrated; rather, put on your creative hat and shift gears into solution mode instead of blame mode. Too many people and processes are involved, so you just need to be positive and be prepared. We face challenges when we travel on vacation for pleasure, so you can only imagine the added complexity of doing business across international borders.
Once you have gone through the process multiple times, you will learn and become creative in forecasting trouble and planning for it. At my company we learned to send the shipping documents to the buyer as well as to the clearing agents before the shipment is sent.
The documents are then validated to ensure they are compliant with the customs of the receiving country. We take actions on any changes required before the products leave our warehouse. This saves time and cost for all parties involved, especially if you are trying to meet a campaign deadline.
Any delays can be costly. There is additional demand that needs to be fulfilled, but in ways which are not necessarily similar to what you do at home.GEMI is the global leader in developing insights, networking, and creating collaborative sustainability solutions for business.
For 25 years, GEMI has captured the vision and experience of global corporate environmental, health and safety (EHS) and sustainability leaders from diverse business sectors through the development of a wide range of publicly-available, solutions-based tools designed. The 4 toughest environmental challenges in business.
Subscribe; Home; Global 50 Most Powerful Women in Business The 4 toughest environmental challenges in . This paper explores the impact of climate change upon the global production of winegrapes and wine. It includes a review of the literature on the cause and effects of climate change, as well as illustrations of the specific challenges global warming may bring to the production of winegrapes and wine.
We live in a global business world where trade has been growing at an annual rate of % for the past two years and is expected to rise to % in , according to the World Trade Organization.
Jun 26, · There are a few challenges of operating a business in a global economy. These include understanding foreign cultures and languages, knowing the laws of other countries, and using technology across.
Apr 22, · Five Key Challenges Facing Global Firms Over Next Five Years business environment is rapidly changing. Our research shows that many companies don’t currently have the right strategies in.