Despite the world economic recession, small- and mid-sized companies are “going global” at an earlier stage in their development than ever before. Expanding overseas involves the careful consideration of risk and cost. What are those potential hazards? And what can be done about them? There are several issues that CEOs should consider when doing business internationally. Several critical ones are outlined here.
For the mid-market company that is expanding internationally — whether for the first time or into uncharted territory – identifying the right talent can be a challenge. In a 2012 Ernst & Young study of C-level and other executives in rapid-growth markets, 30 percent of respondents reported the need for a strategic hiring process in international markets. Intensifying the problem, according to the same study, is a self-reported knowledge gap in local culture and ways of doing business by more than half of the participants.
Some entrepreneurs believe employee empowerment is not just a buzzword but also a business strategy. Founder and CEO of ecommerce giant Rakuten, Hiroshi Mikitani, is a big believer that business must consciously develop a global worldview and culture before attempting international expansion. Rakuten, which also owns Canadian e-book creator Kobo and Buy.com, is giving Amazon.com its first serious competition in years. In his recent book, “Marketplace 3.0, Rewriting the Rules of Borderless Business” he sets forth a path for doing this.
1. Pick a segment within a fast-growing market sector that still has an unmet need your company can fulfill with a differentiated product or service.
Because of China’s politico-strategic framework, it is crucial for CEOs to understand China’s leaders. That’s why CEOs must know Xi Jinping, China’s upcoming new leader, who will likely lead for 10 years.
Over the last two years, companies have started to move away from offshoring, bringing operations back to the US. So what has triggered this change? Simple: cost, capital, and the job market.
U.S. companies with stronger international growth tend to deliver much better returns to shareholders. Here are four real benefits from a focus on growing global.
Claudio Gonzalez, 72, is one of the few remaining members of a vanishing breed of senior business figures that have won both deep respect at home and a strong international reputation abroad. He served as the CEO of Kimberly-Clark de Mexico from 1973-2008. Here’s what Gonzalez has to say about the future for U.S.-Mexico relations.
In the real world of doing business in China, the landscape is shifting. Foreign companies can no longer do business in China today in the same way that they have in the past.
Think a company needs to be big to play on the world stage? Think again. Plenty of companies in the $10 million to $1 billion range are emerging as full-fledged international players by finding ways to move faster than their bigger competitors.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
