Experiential Exercise 5F on text page 170
The instructions say: Contact several local business leaders by phone. Find at least three firms that engage in international or export operations. Visit the owner or manager of each business in person. Ask the businessperson to give you several important lessons that his or her firm has learned in globally doing business. Record the lessons on paper, and report your findings to the class.
The company I had the pleasure of interviewing is called FlightBet. The person that spoke on the behalf of the company was the managing director Dan Harris. They currently operate out of the United States and have just branch east of the States in England. In the past they have did international business in Singapore and China as well.
Dan gave me three vital lessons that play an important role in your success and the overall growth of the business. 1.
Identifying and addressing regulator effects to your business model. This simply means pin pointing issues or factors that need to be rectified. Address them and make changes to your business plan or structure so that your business can continue to improve and grow. “A business model describes the rationale of how an organization creates, delivers, and captures value (economic, social, or other forms of value). The process of business model construction is part of business strategy.”
Cultural awareness is very important due to very sensitive traditions. For example in China the numbers (444) is considered numbers that means bad luck and often time associated with death. So when calling abroad avoided using a call back number with several fours in it. Another great example is the number eight in China is signified as wealth and good luck which means a better chance of getting a better response from potential clients. The ability to be able to do business and socialize in a corporate manner is very important in different cultural environment. Dan...
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