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International Business & U Do’s and Taboos of International Business

International Business & U Do’s and Taboos of International Business. Craig Maginness ExIn Global Strategies Denver, Colorado February 2013. Where in the World . . . ?. What do our customers buy? - value proposition What’s our core competency? - value delivery

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International Business & U Do’s and Taboos of International Business

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  1. International Business & U Do’s and Taboos of International Business Craig Maginness ExIn Global Strategies Denver, Colorado February 2013

  2. Where in the World . . . ? What do our customers buy? - value proposition What’s our core competency? - value delivery How do we make money? - profit generation Who do we compete with? - competitive situation Does our business translate?

  3. How Did We Wind Up Here? 80% of companies wind up in a foreign market because they reacted to an external event. -- a conference on China -- an order from Thailand -- a contact at a convention -- a rumor about a competitor

  4. Failure or Success Simple Translation . . . or . . . Cultural Adaptation What do people consider valuable?

  5. It’s Hard to Find Good Help But it doesn’t have to be PATIENCE TIME HONESTY TRUST

  6. American law the Foreign Corrupt Practices Act Foreign law the economic hostage problem Market differentiation self select the good customers / suppliers from the bad Corruption Conundrum

  7. Internal Culture Shock We’re not in Kansas anymore . . . design preferences tooling changes shipping logistics credit terms inventory sku’s Does this lead to outsourcing? who speaks the customer’s language? customer service metrics travel demands can we protect our IP?

  8. What to Do! • Be proactive -- Plan with intention • Do the due diligence • Be patient • Use available resources • Seek strategic alignment • Don’t let the tail wag the dog Decide why and where you’re going before you decide how you’re going to get there.

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