Understand the Demands of Customers in Global Markets

Building strong emotional bonds between consumers and Chinese brands remains a work in progress.  Take Haier (Haier America), for example, which ramped up efforts to go global in 1999.

It sold niche products such as small refrigerators to college students and wine cellars, and opened manufacturing plants in the U.S. and elsewhere to bring production centers closer to priority consumer markets.  Haier has distinguished itself among Chinese companies in efforts to build a global brand.

Understanding the demands of customers in global markets is just one of the many challenges Chinese companies face in light of increased global competition and operating in a fast, interconnected world.

Learn what other challenges lie ahead for Chinese companies here.

Related post:  Why China Has So Few Good Brands

Be Ready If Your Product Hits It Big Globally

The article below is confusing but touches on a few key points when it comes to expanding your business internationally.

For example:

Companies should develop what moderator and paid Content Executive Editor Ernie Sander called “the inverse of a disaster plan:"  Track the numbers and be ready if your product hits it big globally. “A lot of companies aren’t ready and when it happens they can’t take advantage of that momentum. They collapse,” said Jones—that hasn’t happened at Zynga  (pictured above) because they tracked usage data closely and had plans in place.

As I said, a bit confusing but there are a couple of insights that are worth searching for.

Best Global Strategy Means Local Partners and Low Prices

Posted by:  The Global Small Business Blog

A Profit Lesson for Global Small Businesses

Wal-Mart (locations noted above) appears to be experiencing international growing pains.  Their strategy for driving global growth is working from a sales stand point but not necessarily from a profit or ease of doing business aspect.

... there’s a big problem with that growth strategy: operating margins are significantly worse internationally then they are in the U.S. In this quarter, U.S. operating margins came in at 7.42%, versus 3.93% for international operating margins. And after taking out currency effects, international operating income fell 3.3% year over year.

The lesson for global small businesses:  Monitor your operating margins country to country.   You may not be the size of Wal-Mart yet this is a common problem for any sized business operating internationally.  Keep your profits strong and healthy worldwide.
 
Read more here.   

Illustration credit:  Wal-Mart stores internationally

Entering New Foreign Markets Can be Hopefully Bureaucratic

Agree or disagree?  That is the question.  And Michigan businesses in U.S.A. address the answer.

The article highlights six common myths (misperceptions) about what it takes to pick up overseas business, and advice on addressing the underlying issues.

Border crossing:  Michigan companies going global find benefits can top barriers

Illustration credit here.

Inaugurating New Mayor of Global City Chicago

Before Rahm Emanuel (pictured above) officially becomes Mayor of global city Chicago -- any minute now -- ... a picture taken of him October 23, 2010 at the Apple store opening Lincoln Park, Chicago.

Photo credits:  ©Laurel Delaney.  All rights reserved.

The Global Aspect of Business

The Pennsylvania School for Global Entrepreneurship (PSGE) at Lehigh University (Bethlehem, Pennsylvania) brings American high school students (ages 15-18) together with International high school students from all regions of the world for a five-week residential global learning experience.

The purpose of the PSGE program is to expose students to the topics of entrepreneurship, globalization, team building, project management, leadership and working within a culturally diverse environment and to ignite the students’ spirit of creativity, innovation and learning.  

This makes me so happy to see!  The notion of getting people interested in entrepreneurship and globalization at a young age is fantastic.

How to qualify?

The program is open to all current high school sophomores and juniors (ages 15-18).  Application to PSGE is a competitive process. The selection committee evaluates each application individually, and looks for evidence of academic ability, leadership, entrepreneurship, and community service.  Students of any nationality are welcome to apply.  To date, the program has had participation from international students representing Afghanistan, Antigua Barbuda, Argentina, Australia, Belarus, Brazil, Bulgaria, Canada, China, Columbia, Czech Republic, Denmark, England, Germany, Ghana, Greece, Guatemala, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Jordan, Kazakhstan, Korea, Kuwait, Malaysia, Mexico, Moldova, Netherlands, Palestine, Panama, Peru, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Slovenia, Spain, Switzerland, Turkey, Ukraine, Vietnam, and Zimbabwe.

Get involved!  Learn more here. 

Download applications:

•  International

•  United States

Spring Has Sprung: Free Screensaver For Everyone on the Planet!

"Every spring is the only spring - a perpetual astonishment." ~ Ellis Peters

Photo (click on to enlarge) credit:  Laurel Delaney ... right near the Old Water Tower, downtown Chicago ... and feel free to use as a screen saver!  

Posted by:  The Global Small Business Blog

Transitioning Your Illinois Business From Local to Global

If you operate an Illinois-based company, the link below is right up your alley!  It covers where to turn for help in taking your business from local to global.

Read:

Starter Kit for Illinois Businesses Looking to Export
by Laurel Delaney, for Crain's Chicago Business

Photo credit:  Laurel Delaney, John Hancock Building, Chicago

Posted by:  The Global Small Business Blog

Note:  We are experiencing some technical problems with our blog platform.  If you encounter a delay in posts, that's the reason.

How to Attract International Visitors to Your Local Business

Once upon a time there was a woman business owner who claimed her little cupcake shop in Chicago was drying up.

She bakes cupcakes from scratch in every imaginable flavor and size from her small bakery ...

Find out how she can increase sales and profitability so her business doesn’t shrivel up and even take her business to a whole new level (global).

Read my latest contribution:  From Cupcakes to Moneycakes:  3 Ways To Increase Sales and Profitability published at the American Express OPEN Forum via Small Business Trends

Photo credit:  Laurel Delaney

Posted by:  The Global Small Business Blog

Tariff on Pistachios in India

How to reduce the tariff on pistachios in India?

High tariffs can stagnate an otherwise ripe market. There is no better example than the tariff on pistachios in India, which, until this year, carried one of the highest pistachio tariffs in the world at just over 30 percent.

What happened?

Ultimately the combination of commercial and governmental advocacy, diplomatic efforts, and an India-focused approach paid off, and nearly two months ago Indian leadership reduced the tariff on pistachios from 30 percent to 10 percent. This news resulted in tremendous excitement ...

Read more here.

Posted by:  The Global Small Business Blog

How to Take Your Business to the Next Level By Going Global

Global Entrepreneurship: Born Out of Necessity?

What really drives economic growth?  Many think its entrepreneurship and that entrepreneurship the world over is oftentimes driven by necessity.

But according to the Global Entrepreneurship Monitor:

... economic growth is not driven by these “necessity” entrepreneurs, who decrease in number as the economy develops. The key to fostering growth is to support “opportunity” entrepreneurs, who choose to start new enterprises in response to market needs.

Read this intriguing article, "Does Entrepreneurship Drive Economic Growth? - Megacities - Opportunities at Urban Edges" published by Forbes.

Related piece:  "Do Entrepreneurs in the Developing World Fuel Economic Growth?"

How to Inject Fresh Energy Into the Royal Family: Practice Entrepreneurship

Enlightening commentary by John Berlau for The Wall Street Journal titled, "The Entrepreneurs' Princess."  The reason I find it enlightening is that speaks about how Kate Middleton's family embody a noble tradition of their own:

... a tradition of bettering oneself and one's family while improving the lot of society.

In other words, entrepreneurship.

Learn more about the story of the Middletons rise to wealth and its implications for British culture, public policy and the world at large.  It's a wonderful read.

And while you are at it, visit Carole Middleton's family business:  PartyPieces.co.uk
 

Meet Zaha Hadid Architects

Built globally and built to work.  From the UK to Austria to Japan -- these folks get around and produce magnificent structures the world over.

Zaha Hadid Architects

Photography credit (Japan):  Paul Warchol

Global Presence: 2013 Chevrolet Malibu Launch from South Korea

Designed with global sales in mind, the 2013 Chevrolet Malibu will make South Korea one of it's assembly homes and distribution points, further increasing the brand's global presence.

What do Fairfax, Kansas and Hamtramck, Michigan, and Jingjao, China have in common with Bupyeong, South Korea? All four sites will be responsible for building the 2013 Chevrolet Malibu, although the Korean facility will be the first to assemble the all-new sedan.

Read all about it here.

Photo credit here.

Note:  Bupyeong-gu is one of the ten administrative divisions (eight wards and two counties) that comprise Incheon, South Korea.  Bupyeong-gu comprises an area of 12.35 square miles (31.98 square km), and has a population of 553,961

Women's Hands Perform 66% of the World's Work

Canadian SMEs Say: "Do Away With Trade Barriers to Ensure Global Competitiveness"

Looks like we have our work cut out for us here.  Based on a survey by Angus Reid for UPS Canada:

While the quarterly survey, conducted by Angus Reid for UPS Canada, shows "high level of optimism" about Canada's international competitiveness, 27 per cent of respondents have never considered exporting, believing that there's no market outside the country for their products, while 20 per cent don't believe they can compete with countries such as China, India and Brazil.

Learn more here.  Press release here.

The New Economic Era: China's Entrepreneurs

Find out how the Chinese are making entrepreneurship a way of life.

According to China Macro Finance, a research firm in New York, the number of registered private businesses grew by more than 30% a year between 2000 and 2009 (see chart above). The gross figure (ie, before netting off firms that closed) was at least seven percentage points higher, estimates Ronald Schramm, China Macro Finance’s managing director.

 Read the entire article here.

Chart credit here.