More than half of middle-market companies (54%) export to foreign markets and 48% import, according to “Winning in the Americas,” a recent report from the National Center for the Middle Market at Ohio State University’s Fisher College of Business. For most, international operation is a two-way street—58% of those doing business in foreign markets export as well as import. Middle-market exporters tend to concentrate their international efforts, with the majority (43%) selling to one or two foreign markets, 19% selling to three, 13% to four and just 9% to five.
Canada and Mexico rank as the first and second most important trading partners among these exporters, likely due to the North American Free Trade Agreement launched in 1994. Sixty-three percent of middle-market exporters send goods to Canada, while 39% sell to Mexico. By comparison, just over a third of middle-market exporters sell to Europe and only 28 percent sell to China. Those who succeed in international markets report taking a disciplined approach to global growth by sequencing market entry carefully and monitoring progress.
Forty-three percent report ongoing planning and 26% conduct periodic reviews of international operations and expansion plans. Top hurdles cited by those successfully operating abroad include transport costs, political risk and finding the right partners. The degree of difficulty varies by country, with Western Hemisphere countries tending to be viewed as easier markets to enter (see chart at right).
Free Trade Agreements (FTAs) are widely viewed as facilitating market access; nearly half of middle-market executives report that FTAs helped boost their exports and imports. Going forward, 92% of internationalized companies plan to sell more overseas, with more than a third considering new markets as a result of the provisions of the possible Trans-Pacific Partnership (TPP).
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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.
