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GLOBAL BUSINESS ENVIRONMENT
FITTskills: Global Business Environment provides a comprehensive overview of key aspects of global business in the 21st century. Whether the participant is looking for general information, is seriously considering getting involved or is already participating in global trade, this course provides important information on the key elements of the global business environment.
The course emphasizes forward thinking and a positive perspective and highlights the considerable effort that any business, in any region of the world, must commit to in order to succeed, since we believe that this effort—properly executed—represents a fundamental “best practice” approach that goes beyond borders. In creating contemporary material that not only describes the current state of the environment, but also helps identify ongoing transformation of global business, it is of paramount importance that any “advice” be relative to the knowledge that any business in the world should assimilate in order to be a successful global trader.
The course is grouped into three key areas:
• The Global Business Environment and your country’s place in the world provides the course participant with a big-picture overview.
• New 21st Century Competencies introduces the learner to key characteristics of new global traders and new core competencies that are relatively unique to the future of global trade, such as culture, ethics, technology, supply chains and trade in services.
• Planning Your Global Business Strategy is designed to provide a high-level overview of the fundamental elements of global business and encourages the participant to think strategically at an introductory level, while setting the stage for more advanced courses in the FITTskills offering, such as market research, marketing, supply chain management, finance, law and trade management.
Whatever the objective in reading this textbook—for general information, as a prospective Certified International Trade Professional (CITP), to build a career or expand a business—the investment of time and effort will be worthwhile, as it will undoubtedly help to further define the role and decisions needed to be successful in the new global business environment.
INTERNATIONAL TRADE RESEARCH
FITTskills: International Trade Research introduces an essential component of conducting international trade: researching international markets. International trade research enables companies to identify and gather the information they need to make effective decisions about when to engage in international trade and which markets will be the most profitable. It also enables companies to avoid potentially costly trade and investment mistakes.
This new version 5 course describes the essential basics of international trade research. It explains the importance of research in the success of all international trade ventures, including exporting, importing and foreign direct investments. The use of research to develop intelligence about international markets and competing organizations is also covered. Several chapters run through the processes of planning and implementing research, finding effective information sources, gathering information in the most effective manner and developing an effective system for managing research information in an organization.
After completing the course and the accompanying in-depth research assignment, you will have acquired a solid understanding of the need for research and the business decisions it can be used to help with making. You will be able to plan an international research project that will meet the information requirements of company decision makers and know where to obtain the required information. You will be able to design tools for collecting data, such as questionnaires, and to adapt them to international markets. You will also understand how data are analyzed to develop intelligence about markets and competing organizations and be able to prepare reports and presentations that will effectively transmit your findings.
GLOBAL SUPPLY CHAIN MANAGEMENT
FITTskills Global Supply Chain Management introduces an essential component of international trade: managing an international supply chain. Global supply chain management enables companies to manage the flow of goods, information and finances among international networks in the most efficient manner. To ensure that customers are satisfied with the product, price and service, companies must effectively manage their supply chains.
This course describes the essential basics of global supply chain management. It explains the importance of supply chain management in the success of all international trade ventures, including the exporting and importing of raw materials and finished products. Standard trade documentation and Incoterms are also covered. Several chapters describe the principles for managing production, inventory, delivery and returns efficiently and cost effectively. Methods to reduce supply chain risk and enhance performance are also included. After completing the course and the in-depth accompanying research assignment, you will have acquired a solid understanding of the need to plan and manage a global supply chain. You will be able to identify the main areas of regulatory compliance and to select the most appropriate inventory- management options and methods for transporting products.
Whatever your objective is in attending this course—for general information, as a prospective Certified International Trade Professional (CITP), to build your career or to expand your international business links—your investment of time and effort in attending this course will be worthwhile. It will undoubtedly lead to more effective strategic decision making and enable you to consider all the potential challenges of managing a global supply chain.
INTERNATIONAL MARKET ENTRY STRATEGIES
FITTskills International Market Entry Strategies - When starting an international trade venture, companies select a target market and develop a marketing strategy that they think will encourage their target customers to buy. However, for the best chance of success, a company must first use the most effective way of getting its product or service into its target markets. Each country has different market, business, economic and regulatory conditions, and these variables mean that a method for entering one market might not be suitable for another.
This manual describes the possible market entry strategies that a company can use to start or expand an international trade venture. These include the following:
This manual explains the importance of choosing from these market entry strategies based on a company’s strategic goals, needs and abilities, and describes the research and planning process that company decision makers should run through. This course will discuss each market entry strategy in detail, and carefully explain their various benefits and disadvantages. You will be advised on how to analyze a company’s strategic goals and abilities against the various market entry options, ensuring the best chance of success for that company. International trade partnerships are increasingly important area of market entry, and this manual also focuses on the methods companies can use to find and vet partners who can help them meet their international trade goals. The course will describe various forms of partnerships, and advise you on how to negotiate a win-win partnership agreement. Because there is always the risk of a partnership failing, instructions on when and how to legally exit a partnership are also provided.
INTERNATIONAL MARKETING
FITTskills: International Marketing introduces an essential component of international trade: effectively marketing products and services in the global market. Advances in technology, such as the Internet and telecommunications, now allow small- to medium-sized businesses to successfully pursue international marketing. How do these companies achieve a sustainable competitive advantage in the global market? Profitable companies have researched their target audience—they know who they are, what they need, what they believe and what they are prepared to buy.
If your company attempts to sell its products or services internationally without knowing its target audience and competitors, your company’s chances of making a profit are slim. Research is integral to success in the international market. By the end of this course, you will know what to research and where to begin. If you have already started your international marketing research, this course will ensure you are going in the right direction. If your company is already participating in international trade, but with little profit, this course will help you determine where you need to focus your time and money to achieve success in international trade. It is important to know how your domestic and international markets differ. The marketing principles remain the same, but how you approach your international customer is dependent on cultural, political, legal and regulatory factors. Profitable international marketing is all about using the right promotional strategies for your target audience. These can range from traditional print-based advertising to the latest web-based advertising tools. You will need to learn which pricing strategies will work best for your company and how you can use personal selling to win and keep your global customers.
This course will guide you through the steps you need to take to prepare for selling your products or services to the international customer. One of the most important tools for achieving international success is a well-researched and evolving international marketing plan. The goal of this course is to enable you to prepare an effective international marketing plan for your company.
Whatever your objective is in attending this course—for general information, as a prospective Certified International Trade Professional (CITP), to build your career or to expand your international business links—your investment of time and effort in attending this course will be worthwhile. It will undoubtedly lead to more effective strategic
INTERNATIONAL TRADE FINANCE
FITTskills: International Trade Finance - This course addresses financial methods and tools used to conduct international business transactions successfully. Risks such as commercial and country are discussed as are risk-mitigating techniques, their use and legal implications. Learners will acquire a broad overview of the nature and scope of trade finance—in particular, the ‘Four Pillars’ of trade finance, i.e., payment facilitation, risk management, financing and provision of information related to a transaction. The impact of technology on trade fi nance and the importance of export credit agencies and international financial institutions in international trade are other topics of interest within this course content.
LEGAL ASPECTS OF INTERNATIONAL TRADE
FITTskills Legal Aspects of International Trade (LAIT) introduces the audience to the intricate international legal framework that enables individuals, businesses and governments to successfully and legally exchange goods and services across borders. Through cooperation between private enterprises and intergovernmental organizations, the international community has already lowered trade barriers around the world. The work of harmonizing the legal frameworks and trade agendas of individual nations through treaties, conventions, agreements, model laws and effective methods for dispute resolution continues.
LAIT outlines the concepts and sources of public and private international law. It discusses the international organizations, such as the United Nations and the World Trade Organization, whose work has enabled developed countries to expand their trade agendas fairly and has brought developing countries into international trade. LAIT also explains the impact international conventions such as the Vienna Sales Convention and regional trade agreements such as NAFTA have on the flow of business between countries. It clarifies the effect of national legislation, regulations and court systems on national and international business, and describes how legislation contributes to the market appeal a nation will have for international traders. Emerging legal, ethical and technological challenges the international community will face as the trend towards globalization of trade continues are also introduced.
In addition to the legal frameworks governing international trade, LAIT describes the absolute necessity of due diligence when negotiating firm and transparent contracts that specify the rights and obligations of parties involved in the sale of goods and or services. Solid contracts and any additional sub contracts or agreements reduce trade risks associated with issues of legal jurisdiction, payments, currency, transportation, delivery, quality, intellectual property rights, partnerships, investments, confidentiality and dispute resolution.
Whether you are an entrepreneur currently invested in the international trade market, a business person contemplating an international endeavour or a professional committed to expanding your general knowledge of the legalities of international trade, this course will be invaluable. After completing this course, you will have a solid understanding of the international legal frameworks within which trade is conducted, as well as best practices for navigating the complexities of international trade laws governing imports, exports, taxation, product liability, intellectual property and anti-competition.
INTERNATIONAL TRADE MANAGEMENT
FITTskills International Trade Management provides an introduction to the issues, strategies and techniques that are essential to the management of companies operating in a global economy. Technological, economic and political changes have created a new, increasingly integrated, rapidly changing and highly competitive international environment. Such conditions require diverse and adaptable skills from those who direct the fortunes of today’s firms.
This course starts by reviewing the major trends shaping the international environment and setting out the challenges these pose for managers. Within this context, the course shows how managers can identify and pursue new sources of competitive advantage and it reviews how managers can articulate a corporate vision and global strategy, and then how they can implement it through the development of a detailed business plan.
Faced with complex tasks and kaleidoscopic change, managers use a variety of organizational structures, adapting and adjusting them as required. They also forge a wide array of supplier arrangements, partnerships and alliances to ensure that the company always has access to the expertise it needs to prosper.
Managers carry out their responsibilities by applying elements of a skill set that includes the ability to mitigate risk, supervise finances and direct innovation, three prerequisites of corporate success. In addressing these skills, the course also reviews some of the tools that are available to managers to strengthen their oversight, extend their reach and improve their control over the organizations that they direct.
Finally, this course recognizes that international trade management is set within a cross-cultural context in which it is essential to understand and accommodate cultural nuances. Managers need the ability to transcend national borders as well as the barriers of language, custom and social practice in order to work effectively with suppliers, staff and clients. The last sections of the course deal with the manager as cross-cultural communicator and leader.
After completing the course and the in-depth accompanying business plan, you will have acquired a solid understanding of the way managers function in the international economy. You will be familiar with the models and techniques associated with preparation of an international business plan that can guide expansion, market entry or product innovation in an international context. You will also be able to enhance this plan with appropriate techniques for structuring the organization, deploying resources and developing strategies that can keep the company competitive in a challenging environment.
- Exporting directly or indirectly
- Selling franchises or licenses
- Forming a strategic alliance (which can take the form of a partnership, a joint venture or a merger)
- Acquiring a company
- Investing directly or indirectly in a foreign market
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