Posted by: changholt | June 23, 2009

Globalization whats it all about?

Globalization, what is it?

I often get asked if globalization is a recent phenomenon… simply put no it’s not. People have been doing international business for eons. Over the past 50 years we have seen exponential growth in international business. It has been a period of rapid changes, however, with the current world economic downturn many of the predictions of continual growth have been pulled back. Therefore, understanding the dynamics of today’s global economy requires some knowledge of looking at the history of international trade and what we should expect in the future. In this blog, we’re going to explore all the opportunities international business has to offer you and your partners – finding ways to grow your business internationally. There’s no better way to grow your business in uncertain economic times than to search for new markets. International markets, although more challenging are great opportunities for companies worldwide.

We will look at:

1. The role on international trade in the world economy
2. The infrastructure challenges
3. Transportation choices (Trains, Planes, Trucks, and Ship… are all of them)
4. Trade terms to get the deal done.
5. Payment terms that get you paid and get you customers too!
6. Currency considerations
7. Contract Choices (The legal options…the devil is in the details)
8. Market Entry strategy:
a. Manufacture Abroad or outsource
b. Foreign Partners (Distributors, Agents, Direct investment, Licensees, etc.)
9. Documentation (Again, the devil is in the details)
10. Governmental Regulations (Oh what a tangled web they weave…)
11. Cultural Challenges (language, traditions, business practices)
12. Customs (Who is your custom broker or freight forwarder)?
13. Insurance (Do you need it and if so what should you buy?)
14. Technological differences (110v vs. 220v is the easy stuff)
15. Packaging (you better have a strategy)

We hope these topics interest you as much as they do us. Please feel free to visit our website (www.holtandsons.com) and please give us your feedback (admin@holtandsons.com). Thanks for being part of our world.


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