Good evening from Manila!

We Manilans were met this morning with the seemingly good news that oil price nose dived to $125 per barrel. As this news was released, we have just three (3) days before Her Excellency, President Gloria Macapagal Arroyo or GMA, will deliver her State-of-the-Nation Address or SONA.

With due respect to a fellow economist, the eminent world woman leader GM Arroyo should better not say lies comes Monday SONA that her actions on oil tax in Manila are responsible for bringing down global oil. Rather, her regime’s actions on state imports of rice immensely led to more speculation on the global commodities markets that indeed contributed in no small measure to raising the price of rice world-wide, actions that added pressures on oil prices to go up too.

Fellow Earthans, please look at the backyard of the Kingdom of Saudi Arabia, where the honorable King pledged before the UN Secretary General last month that the oil wells will pump out more stocks of the commodity so as to shore up the supplies by the month of July. It is now the tail end of July, and so it seems that the Midas touch of the KSA King has been creating sure-fire effects on gas prices.

The question worth asking is, will the latest decline in the price of oil be for good? Remember that the soaring prices of oil were largely caused by massive speculations in the spot markets, conducted by diverse financier groups. To a certain extent, the inflationary patterns in the grains prices also contributed to inflationary patterns in the oil sector.

There was the demand side that was cited as possible cause of the oil price decrease. The observed decline in the usage of oil by American consumers had accordingly factored into the equation, thus reducing oil price in global spot markets.

A simple multivariate analysis would show us that a combination of (a) supply side actions (KSA King’s ‘pump more oil’ policy) and (b) demand side behavior (Americans consume less oil) have (c) dampened speculative pressures and eased oil prices a bit. In other words, the predatory financiers were caught flat-footed by the double-whammy, even as some losing speculators are now hurting badly over the latest developments.

But do mark this: the financiers will strike back. The cyclone season is around, one can muse safely that cyclone devastations will induce short-term shocks on food, oil, and some non-durable commodities. Such eventualities could then induce pressures on cyclone-related or force majeure-coverage insurance, possibly impelling prices of the said commodities to go up from this month till November.

There also is the US federal campaign period coming, which will see inflationary spending from both parties as well as from the federal government as part of pump-priming measures. Such eventualities will altogether lead to new rounds of oil consumption in America, which will continue till the winter months.

No, definitely not, we are not at the tail end yet of oil hyper-inflation. This is the least that I can forecast for the moment.

[Writ 25 July 2008, Manila, Quezon City]

I am crazy about reading business periodicals and which better than the Economist that is actually available for subscription in India at a cool price!

I was a subscriber of "The McKinsey Quarterly" for many years (since 2003) which was good from a consulting standpoint but felt it to be way too theoretical. Hence the need for a change.

I have become a member of the economist.com website way back in 2004 itself but the print edition is something else! For the Asia Pacific region, the print editions get shipped weekly from Singapore or surrounding areas.

I am waiting for my first copy of the Economist to satiate my voracious appetite for reading business dailies!

By the way, this subscription to the Economist was a gift from my closest friend who is currently in the USA! Thanks mate!

Revenues up 24 percent compared to Q1 of FY08

profits up 6% Q-o-Q

profit after tax up 4% Q-o-Q

EPS @ rs 13.19

35 new clients added

8,982 employees joined the company

attrition at 12.8%(including BPO)

dividend @ 3 rs per share

Net sales in dollar term grew at a decent 1.4% compared to the 0.1% in the previous quarter

forex losses of Rs 59 crore on account of hedging

operating margin declined by 240 basis points due to forex losses.

DISCUSSION & ANALYSIS

( Thread originally started in orkut community TCS 2008 )

ME:OVER ALL THE RESULTS WERE ON THE EXPECTED LINES OF THE ANALYSTS

the international business grew by 7%

negative demand from the BFSI(banking and financial sector) predicted for the next quarter.this sector is the biggest contributor for the tcs revenues.

the forcast for the next quarter has been CAUTIOUSLY positive..:)

ATTITUDE:do u mean 2 say that banking projects will sour for the next quarter then it would be a great panic in the company and will effect the doj

HAREESH:This is one of theworst s/w companies which has nothing except the brand value...he market expectations and quarterly growth is very much poor as compared to any other top 5 companies...this has been the case with TCS from many years....within no time it wil definitely lose its top position

DHIMAN(reply to attitude): u have hit the nail on the head frnd..

i have the same suspicion...
whatever the crap is flying abt TCS' superb HR policies after all its an IT co. and will be affected like all other cos, maybe slightly less but affected nontehless.

for us its just wait and watch

ME(reply to attitude):almost 50 percent of the tcs revenues come from BFSI.due to the ongoing recession and sub prime crisis the BFSI sector hav taken a knock and are in the process of cutting down their costs.this will surely effect the TCS revenue portfolio but these ppl are lookin into other under developed and developed economies to counter this situation...
Ramadorai in the pressmeet was quite confident about the next quarter results and he assured that the hiring process will be done at the same process and the job cuts are unlikely.
so i dont think there will be any effect on our DOJ'S...
till now DOJ'S have been given as scheduled..so no need to panic...:)
chill guys...
despite the weak dollar prices and heavy hedge fund losses....TCS has put up a decent show...

ME(reply to hareesh): bro,i think u were too harsh when u said that TCS is the worst software company...

the IT industry has been suffering from the past few quarters...but TCS wasn't that bad...
when it comes to the quarterly results only infy was able to put up better results than TCS.

whn i say only infy u need to remember that companies like sathyam are dealing with revenues which are comparitivly low.so u cannot compare the growth of the companies such TCS with smaller companies in the same league.

it's easy to jump from 50th position to 10th position.but the toughest part is climbing from the tenth position to the first and it intensifies as we move to the top.
some times luck,small glitches can push them up or pull them down.

the best thing about TCS is that they have put up the losses incurred in hedging onto the balance sheets of each quarter.many companies dont do that and try to coverup the losses inorder to prevent their stock frm plummeting.but TCS never did that.

a problem well defined is half soLved and i beleive that TCS was successful in defining the problem and will post better results in the subsequent quarters...:).moreover i dont think a 6% growth Q-O-Q isn't that bad afterall..:)

BAJAJ(reply to hareesh): i am nt crtising u 4 ur remarks but i do believe dat u want 2 show d ppl that u know a lot bout market but actually u don.
Reasons:
1. U said TCS has just brand value...dat means u wanna say dat TCS is famous: for ur knowledge infosys, accenture and ibm are more famous dan tcs.
2. U said its d worst company in d world...i don trust ur qualification 2 say that but i do trust forbes and other surveys which say dat tcs is in top 10 innovator companies in asia.
3. You look stupid man and i never feel sorry but i am feeling sorry for the company u work for as market analyst

ME(reply to bajaj): well said...(reason 1 nd reason 2)

BAJAJ(reply to me): wat bout 3 man, dats ma favorite

guys keep posting ur views on this.i will keep editing this post.you can post your views either as comments or you can post in the original discussion thread.

follow this link for the above discussion thread.

http://www.orkut.co.in/CommMsgs.aspx?cmm=28313196&tid=5223556804700822281

cheers,

Ritz.

A bridge has fallen, the Mississipi river flooded Orleans like some pathetic third world city, airports are too cramped up as they are incapable of containing the surge in passenger & cargo levels, the East Coast experienced the emergency shut down due to grid overload (causing massive blackout), railway tracks are thinning out and overall capacity is on downward trend, and more.

They seem to be unrelated, but for economists and sociologists the trends all tell the same story. Pieced up together, they indicate crumbling infrastructures. Not because the structural engineers of America are sloppy, and definitely not that the heavy equipment sector couldn’t provide quality machines to reinforce the burgeoning infrastructure need of the juggernaut US economy.

The true story is that, as the economy shifted to the ‘virtual economy’, there was the systematic abandonment of infrastructure as a priority for fiscal and budgetary allocations. “Leave that to the private sector!” was the slogan for infrastructure. Even the famed fast lanes of America are already being sold out one after the other to the highest bidders, financial speculators all led by the likes of Felix Rohatyn & partners, thanks to deregulation and liberalization.

The thing is, most of America’s major infrastructures—airports, wharfs, roads, bridges, dikes, dams, power distribution, and more public works—were built in the 50s and 60s yet, at the height of the post-war boom under the aegis of the New Deal. Such infrastructures now require massive renovation, with entire replacement for those decaying beyond salvaging.

Did the civil engineers of America speak about the matter clearly? They did, and they have been saying alarming things since the 1990s yet. At the height of the ‘bridge over troubled water’ fiasco, they came out with the report that ¼ of America’s roads and bridges needed major repairs and replacements as soon as possible.

The other sectors’ experts have spoken as well. In the airlines industry, no less than state officials have forewarned that if no renovations (toward expansion) will be done on airports in 10 years’ time, there will be major crisis in the airlines sector. The possibility of emerging markets overshooting the USA’s cutting edge in air transport delivery also looms ahead in the short run.

With no reversal of policies in sight, chances are that, in 20 years’ time, the USA will be an apocalyptic landscape of fallen bridges, impassable roads, rotten wharfs, fallen dikes and inoperable dams, rotten buildings left to nature, and forest cover claiming back once bustling cities.

Only a timely policy reversal can nip the apocalyptic future in the bud. That is, if the political bigwigs in the coming election—McCain and Obama—do their homework well, comprehend the problem deeply, and begin large-scale strategic solutions to colossal problems in infrastructures.

[Writ 06 June 2008, Quezon City, MetroManila.]  

Agriculture remains to be among the most protected sectors of the US economy. Enough to cause ceaseless chagrin on the members of the WTO, who have been demanding that the EU-USA-Japan trilateral belt better play by the rules and remove the trade barriers in agriculture.

But the overall alarming trend in America’s agriculture is the rapid shrinking of arable lands altogether. Lucky enough that America is blessed with millions of acres of arable land, but the liberalization of land use conversions affected this mighty economy strongly like in other countries. Prime agricultural lands are being transformed into commercial and residential lands, most specially those southern regions that practically fed the whole America for nigh centuries long.

Agriculture is following a general trend of economic decay. The historic practice of mono-cropping alone had already created havoc on the soil quality in many places across the US. Compounding the decay problem is the pressure by WTO members for the sector to bring down the trade barrier, thus possibly bringing in floods of cheap food imports from Europe and the south.

Just recently, the inflated marketability of biofuels led many a planter to shift to massive corn production, for the sole purpose of raking profits on alternative fuels. Of course, many hedge funds and enthused investors had cashed in on the biofuels craze, and news came out that even Bill Gates had invested in this ‘greenfield’ energy source.

Estimates put the amount of corn planted to biofuels as more than enough to feed over 110 million people. That’s a lot of mouths to feed for sure! But feeding mouths is hardly the priority in the US agriculture today, the core focus being the next round of looting on the consumers’ purse by driving food prices upwards both due to the biofuels craze and speculation on food stocks.

So, what say you, voters of America? Let’s just hope the political bigwigs contesting the presidency will indeed take the interest of ‘food security’ at its core. Failing to do so, America itself might end up with inflated food prices in the couples of years ahead, and believe it or not, the Depression era of seeing people without food on their plates may come back. The difference being that the Great Depression was only quite temporary, while this coming ‘food insecurity’ will be around for a very long time.

This brings to mind what the late John Meynard Keynes declared cryptically, “in the long run, we shall all be dead!”

[Writ 06 June 2008, Quezon City, MeroManila]

The public (in America) is of the broad position that the NAFTA was responsible for the folding up of many factories and the transfer of jobs to Mexico/South. This NAFTA-bashing has some validity to it, but the semi-economic integration alone with Mexico and Canada isn’t a sufficient reason for the bigger problem of de-industrialization.

Once robust and colossal, the industrial sector of the USA contributed over 50% of the Gross Domestic Product or GDP, and employed half the labor as well. As early as the mid-50s, the futuristic sociologist Daniel Bell already warned that the trend wouldn’t hold long enough, as the ‘post-industrial society’ was already knocking its doors on the USA. Not only that, he also forecast that by the 21^st century, the center of global economic growth would be the Asia-Pacific, while labor would shift to the services sector.

Had the policy-makers heeded the warning of the likes of Bell then, and fine-tuned the ‘real economy’ principles of Franklin Roosevelt, the de-industrialization of America couldn’t have happened. By the early 1980s, Alvin Toffler added resounding echoes to the forecast of a post-industrial society, by adumbrating the  ‘3^rd wave technology’ thesis. Such a thesis expounded that knowledge-intensive technologies would dominate post-industrial society, and will destroy institutions founded on old economic-ideological precepts notably liberal capitalism and socialism.

However, the neo-liberals led by Friedman and Hayek became the dominant Pied Pipers in shaping the public policy of America. All sectors of the economy soon became dog-eat-dog arena for private sector hegemony, leading to the ascent of the ‘virtual economy’ founded on predatory finance. Gradually did the ‘virtual economy’ wreck the classic industries of America, the most exemplary being the steel industry.

The tragic closure of Bethlehem Steel tells it all: that the ‘virtual economy’ has no interest in sustaining strategic industries or to develop their technological edge further. One after the other, manufacturing concerns were closed shop, dis-assembled and re-assembled in emerging markets where labor and factor inputs were cheaper. The ‘industrial belt’ of America—stretching from up New England down to the automotive & machine tool shops of the south—is rapidly evaporating.

The clear message for this year’s presidential poll in America is: resuscitate the industrial sector. Re-tool both the hardware, institutions and human resources to make them competitive again. Revive all the strategic reproducible industries (steel, machine tools, railways, automotive, shipping, airlines, etc.), or else face the specter of ‘third worldization’ of America. A tall order, but what choice does the USA have?

[Writ 06 June 2008, Quezon City, MetroManila]

My IIFT EMIB CGPA was 3.63/4 and I was in the top 10% of my class of practicing managers across the country, with an average class work experience of over 10 years.

What is the value of this figure is what I was trying to analyze.

We all know that theoretical knowledge is of no use so where does this 3.63 fit in? What is the significance of letter grades?

First off, it gives companies and the person evaluating you a metric to compare your performance with others in comparable fields. We all have performance appraisals and this is a kind of a performance appraisal system.

Moreover, it does indeed bring to the fore the committment and dedication put in by the students vis-a-vis their counterparts who pass through without significant effort because the MBA grading system is done well with emphasis given on continuous evaluation on assignments/quizzes as opposed to older traditional forms where final exminations are like a final hit (you score well there and you are done and you mess up there and you are history!)

In most intelligent MBA curriculums, assignments and quizzes carry a 60% weightage which is good. I believe it reflects the true performance and committment of the students on the entire duration of the course as opposed to the last minute hitters who strike gold in other primitive forms of education.

Coming back to the all important number, 3.63. Three point something.

I believe it is an important metric and I would go more by the practical experience of the person having a three point something out of the theoretical maximum 4.

Grades are letter grades from A to F with a 0.33 spread for A+ or A- and so on.

Look at the practical takeaway the candidates have when they have such glamorous letter grades. Don't go blindly by the numbers. Look at their usage of that course to their advantage in career advancement or learning. What value have they added to themselves over the course of time they have acquired the degree and become "freshly minted MBA's".

Value them for what they bring to the table and not for what their grades say but at the same time be rest assured that a person wih a high CGPA or consistent letter grade has been more systematic/committed (if you are looking for those qualities in that person) in one's course duration than a person who has been a low scorer and it does not mean a thing more than that. But, then you need to ask the candidate questions such as:

- What made you score low/high?

- Why the inconsistency in grades?

- Why do your grades vary significantly over the average (high levels of variance)? Remember Jack Welch's adage - in people differentation is everything, in manufacturing, we try to stamp out variance.

- What was the class profile?

- What was the type of course?

- What were the rigours of the course?

- How were the professors coaching?

and the list goes on. But you know, you need to be reading into more than just the numbers or letter grades. Those numbers can sometimes tell you valuable things about a person's committment when you dig deeper so don't be blindly impressed by a Harvard MBA, look at what skills one brings to the table and if the person has indeed earned that degree with dedication/committment.

Great and mighty is America’s economy! America can buy the whole earth and feed all the world’s people! Americans are the world’s wealthiest, they can buy any and all guys outside the borders!

What delusional arrogance from some demonic Pied Pipers! The USA’s GDP ended up at $12.5 Trillion last year, though some indicator massage could yield a higher figure of $13.5 Trillion (using Purchasing Power Parity or PPP). Measure this against the Gross World Product of GWP of $59 Trillion more or less, end of 2007. Estimates by experts is that the US contributes to 22% of the GWP, and ditto for the EU.

That figure of $12.5 Trillion, fellows, is simply the ‘nominal value’ of the US economy. Nominal and real are two different categories in economics. Granting that the ‘virtual economy’ based on financial speculation has been the one that raised values of commodities and services in the USA, the ‘nominal value’ is actually inflated, rendering the ‘real value’ at a much lower level.

Do recall when the stock market crashed in 2001. At that time, the psychological benchmark was 10,000 points at the Dow Jones. Each point in the Dow Jones then was approximately $1 Billion worth. A decline of 100 points means $100 Billion pared off from the economy, or at least the virtual economy. The stock market eventually crashed down to 7900+, which made my own hair rise with horror all over my body.

The stock market then stayed for a time at the 7,900-8,300 points, for couples of months, before it again steadily climbed. For simplification, let us use the figure of 8,000 points as the lowest level that the economy can crash down to, the rock bottom. That is around 77% of the 10,000+ benchmark more or less.

That figure, fellows, is the rough estimate of the ‘real value’ of the US economy. If we multiply 0.77 by $12.5 Billion, this yields $9.63 Billion. That’s the real figure, the real value, the real score of the US economy. If we convert this to PPP, this will rise a bit to $9.8 Billion more or less. The remaining balance of $3 Billion, to complete the $13.5B –PPP, is all ‘casino economy’ value, all speculative value and nothing more.

So now, going back to a previous question, where and how will the USA get funds to pay for $50 Trillion worth of debts? Do the electoral bigwigs in America possess with them the proper framework to comprehend and recommend practicable solutions to America’s ailing debt crisis and overall economic malaise?

I wish you American voters will do your own deep inquiries about the depth of your problems. The health of the global economy is being endangered by the impending US economic collapse, a fire that can easily burn out the EU as well (this fire had already begun there in fact). When both the EU and USA are in economic collapse or ‘fire function’, the entire global economy will catastrophically fall in deep quagmires.

[Writ 05 June 2008, Quezon City, Metromanila]

Just exactly at what level had the totality of US debts had reached is practically anybody’s guess. So complex is America’s financial system and the mess created by the ‘bubble economy’ over the last three (3) decades, that it takes an enormous amount of research efforts led by top economists and financial consultants to undertake.

One thing is clear though: whoever will be the USA’s next execs must never fail to measure, comprehend, and reverse the debt trends. The estimates today, using combined data from the Fed, the Bank for International Settlements or BiS, and independent researches would put the figure at $50 Trillion.

Measured against the GDP, which stood at around $12.5 Trillion more or less last year, indicates that America doesn’t have the money to pay debts at all, assuming that the bubble bursts and the economy crashes to depression level. Well, the burst began last year yet, the recession is now on, and we need to observe events more closely to determine whether a depression will be at hand.

To say that US savings will salve America’s debt problems is baloney. The savings rate is barely 1%, which accounts for the need for large doses of foreign direct investments and portfolios to cover up for the lack of investible savings. Compare this to East Asia’s average of 30% savings rate, which makes this region’s economy verdantly robust for years to come amid US-EU economic collapse.

On the other hand, to bank on gross international reserves as the source of salvation would likewise bring guffaws. America’s reserves could never exceed $90 Billion at any given time (in real value), which couldn’t even suffice to buy for 1 month’s imports. Compare this to East Asia’s reserves, which range from 4 months imports in RP’s case to at least a year’s for China’s.

So, let us repeat the question, where and how will the US source its funds for salving the debt crisis? What concrete steps will be taken to reverse the debt trap? Who among the political bigwigs in America today possesses the soundest theory and practice for solving the gargantuan debt crisis?

Those questions remain to be answered. Let us hope that the two bigwigs McCain and Obama will do their homework well. The electorates’ expectations are enormously high, and meeting those expectations using traditional, flawed approaches and practices would only endanger both the economic and political stability of this once mighty giant.

[Writ 05 June 2008, Quezon City, MetroManila]

We witnessed a stage when Manmohan Singh did not even have the gumption to visit the G8 summit at Japan. He was about to hang up his boots and call it a day. We saw allegations against Chidu being thrown up by other politicians.

We finally saw Dr. Manmohan Singh do a classic non-Manmohan act by not just snubbing the Left firmly but also putting his best foot forward to visit the G8 meet at Japan!

We saw the left swing from left to right and to the center but finally coming to rest in its original position - the left! We saw new allies emerge for the stricken Manmohan Government in the form of the SP's Amar Singh (who really achieved phenomenal political mileage in last few weeks) and even Deve Gowda choosing to support the nuclear deal!

I believe Nuclear energy is not a luxury for this nation of 1.5 billion people but an absolute necessity. We are grappling with our social problems and the social cost-benefit of this deal far outweighs its risks. We may have the IAEA safeguards etc. and scrutiny etc. but I still feel the time had come for other more efficient forms of energy in this country to fulfil its domestic demand. Yes, the USA has its corporate sector gunning for this deal since it opens up a trillion $ market for them (the likes of GE etc. who barely sell nuclear reactors in their home country). If you need proof, read up Jack Welch's autobiography for the # of nuclear reactors sold by GE in the USA in the 80's.

http://www.meaindia.nic.in/ has the agreement draft to be signed by India which is an AGREEMENT BETWEEN THE GOVERNMENT OF INDIA AND THE INTERNATIONAL ATOMIC ENERGY AGENCY FOR THE APPLICATION OF SAFEGUARDS TO CIVILIAN NUCLEAR FACILITIES.

I support the 123 agreement and hope it achieves its objective in meeting the emergy demands of this energy depleted country - India.

In your hustle and bustle to try and make sense of it all. Broaden your horizons and meet new people:

Business Owner meet your (VA) Virtual Assistant

(VA) Virtual Assistant meet the Business Owner.

Business Owner says: Boy, my schedule sure is getting tight around here. I have invoices to fill, appointments to make, meetings to attend, e-mails to research and respond to and so many more details. On top of that it's disorganization and it's just adding to one big mess. Pushing through the details so they won't add up on me and getting through my daily grind seems like I have no time left for other things.  I can't be up late tonight, trying to play catch-up.  Just trying to keep my business in business has reached its limits, I need to make a change.  Where do I go from here?

(VA) Virtual Assistant says: Hey business owner, this VA is a true business partner who can help you to see things clearly, help you to improve the way that you do business and set you on the right track. This VA can handle many different things for you.  Once you and this VA combine forces and become business partners, you'll wonder why you didn't outsource sooner.

SO WHAT'S NEXT?

First things, first: You the business owner must come to the realization that you need beneficial support and outsourcing to a VA is the way to go. A VA doesn't subtract from your business they add to your business and your business growth, which leads to business success. You may be thinking " going virtual" with outsourcing seems a little far fetched, I'm not sure. Stop second guessing yourself, you know that a Virtual Asistant is the way to go.

Stop hesitating and Start delegating!

Make your next move your best move and outsource!

Second Step: contact this VA, Clerical Business Solutions, for a consultation to discuss your business needs. Ask about her services and rates. There's no way that you could handle everything on your own without beneficial business support. Partner with this VA business owner to help you climb the ladder of success and achieve your wildest dreams.

Time for action

Not tomorrow, not next week, not next month but today!

Take action today Get your consultation and support today!

Clerical Business Solutions

Renee ~ Virtual Assistant

E-mail : info@clericalsolutionsinc.net

Web: www.clericalsolutionsinc.net

International business is all business transactions-private and governmental-that involve two or more countries. Why should one be interested in studying international business? The simplest answer is that international business comprises a large and growing portion of the world's total business. Today, almost all companies, large or small, are affected by global events and competition because most sell output to and/or secure suppliers from foreign countries and/or compete against products and services that come from abroad.

More companies that engage in some form of international business are involved in exporting and importing than in any other type of business transaction. Many of the international business experts argue that exporting is a logical process with a natural structure, which can be viewed primarily as a method of understanding the target country's environment, using the appropriate marketing mix, developing a marketing plan based upon the use of the mix, implementing a plan through a strategy and finally, using a control method to ensure the strategy is adhered to. This exporting process is reviewed and evaluated regularly and modifications are made to the use of the mix, to take account of market changes impacting upon competitiveness. This view seems to suggest that much of the international business theory related to enterprises, which are internationally based and have global ambitions, does often change depending on the special requirements of each country.

Another core issue is the company's growth and the importance of networking and interaction. This view looks at the way in which companies and organisations interact and consequently network with each other to gain commercial advantage in world markets. The network can be using similar subcontractors or components, sharing research and development costs or operating within the same governmental framework. Clearly, when businesses formulate a trading block with no internal barriers they are actually creating their own networks. Collaborations in aerospace, vehicle manufactures and engineering have all sponsored the development of a country's or a group of countries' outlook based on their own internal market network. This network and interaction approach to internationalisation shows the substance of being able to influence decisions when knowing how the global network players work or interact.

For example, a crucial market network is that of the Middle East. Middle East countries are rich, diverse markets, with a vibrant and varied cultural heritage. This means that although there has been a harmonisation process during the past few years, differences still exist. Rather than business being simpler as a result, it should be recognised that because of regulations and the need those countries have to restructure as they enter the global market, performing any kind of business can be highly complex. It should be remembered though that the Middle-Eastern countries have a low-income average and like to have their cultural differences recognised. Those firms that will or have recognised these facts have a good chance of developing a successful marketing strategy to meet their needs. Fortunately some firms have realised these important differences and reacted adequately when strategic decisions had to be made regarding their penetration to this kind of markets.

Single European Market

international-business

1. Integrity
2. Expertise
3. Good Judgement
4. Communication
5. Likability

1. Intergrity

Intergrity is always key. How can I trust the?, Let me count the ways. Integrity is a major part of credibility, it's a commitment to truth, fairness and objectivity. You should maintain a track record of Integrity. Companies who are commited to what they say and do, who do what they promise and are open about their practices and policies are perceived as more credibile than others.

• Look at your behavior, invest some time into clarifying your values.
• Build a reputation for honest and ethical behavior.
• Own up to your mistake, don't cover them up, prove that you can rectify the mistake

2. Expertise

Being competent is always key. Do you have the skills to pay the bills? Can you do what you claim to know how to do? Are you competent?  Competence comes from your knowledge, education and/ or experience. You may not have a college degree but do you study and learn about different subjects, that can assist you in growing in your business?  If you do have a college degree, do you continue to learn about different aspects of business or careers?

 Competence and expertise go hand in hand. What ever your case may be always continue to learn. In the business world learning never stops. Your competence turns into expertise when it is put to the test.  

Being competent shows that you are an expert in your field or on a certain subject. If you are very competent & knowledgeable in what you profess to do and can handle the tasks that you say that you can do, then you show your expertise.

• Always continue to study and learn about topics related to your career field, it's an everyday thing in business or careers, continuous learning will broaden your horizons, keep you up to date on what's new in the business world which can help you to continue to succeed.
• If needed, get a license or certification in your field.
• Doing or requesting high-visibility projects can test your competence, expertise and provide a track record
• When working with a client, stand up for what you say that you can do, show and prove.
• If possible, participate with key people in projects at your company to show your level of competence.

3. Sound Judgement

Having sound judgement is good judgement. Credibility is shown through the decisions that you make and how well you take action. When you have sound judgement skills, you have some ability to analyze compelx situations, ask intelligent questions and make good decisions.  A person with sound judgment usually has both cognitive and intuitive gifts.  You are able to see towards the future, see the bigger picture and have a better perspective.

• Don't be afraid to ask others for their opinion in many situations.
• Don't make too quick judgements, take a decent amount of time to think things through.
• Stay on top, stay ahead of the competition, always be up to date on the current trends in your industry.

4. Communication

Don't be so arrogant with your expertise. Listen to others to help gain some insight into their perspectives. Being able to LISTEN TO OTHERS and being understanding is a big part of communication. Better communication skills show that you can be trusted to listen and work with the best interest of others in mind. If you become known for building commitment and cooperation, for being level-headed and fair, everyone will want you on their team or turn to you for advice.

• LISTEN TO OTHERS & LEARN FROM YOUR MISTAKES
• Demonstrate concern for others’ values, goals, and objectives
• Take time to understand another’s point of view before refuting or rejecting it

5. Be Likable

You build credibility when you are likable. People build trust in you, buy from you cooperate with you and approve your proposals.  You got to kill'em with kindness. It may even hurt you to do it, especially with arrogant people but don't be too fake about it. Being too fake shows. Strive to have and show genuine kindness.

• Look for the brighter side to things, talk about results and don't harp on problems.
• If you have problems, talk about them in a professional manner, learn from your mistakes, make notes, hear everyone out then come to a civilized conclusion and put the matter to rest.
• If the problem rears it's ugly head again, review your notes from the past then you'll know how to deal with it.
• Kill'em with kindness, go out of your way to be nice, show concern to clients.
• Most IMPORTANT: Express gratitude, thank your customers for their business.

Having good judgement can help you to make sound decisions. When you know and understand the elements of credibility and how to use them they can boost your credibility and your business.  

All of these elements makes credibility a package deal, you can't have one without the other.

CLERICAL BUSINESS SOLUTIONS

RENEE ~ VIRTUAL ASSISTANT

EMAIL: INFO@CLERICALSOLUTIONSINC.NET

WEB: WWW.CLERICALSOLUTIONSINC.NET

The  term Region Wide Web is meant to give a semi provocative name to the increasing use of IP addresses, browser sniffing and other geo-targeting techniques to provide "region specific" relevancy, content or restrictions. You'll find several references to this issue over the last few months on this blog. Increasing amounts of my internationally mobile friends and contacts have expressed a growing frustration at "too smart for it's own good" bugs in their web experience that can be broadly categorised as unwelcome geo-targeting.

Examples iinclude Rhapsody refusing to allow US customers to use their software whilst abroad , iTunes charging 79p versus 99c, search engines tailoring the relevancy of results found within their Global index based on host IP and localized blends of the Global search index that are delivered regardless of selecting a local option. Other examples of only truly having access to a Region Wide Web include increased restrictions on making purchases for products in one country if the credit card is detected to be used in another region. Whilst many aspects of regionalizing the web via local detection have been delivered to assist and protect online users, increasingly the same technologies are being used to curtail the online user’s capacity to access less expensive intangible products in foreign markets or information in other countries.

Whilst country level blocks on freedom of speech are extreme versions of a Region Wide Web, the subtle changes seen in search engine results on even globally relevant search queries is a worrying step in the direction of a fractioned web experience where there is no unified consumption of information across geographies and ultimately the "World Wide" aspect of the web retreats into Geo-Silos.

Ironically as more of us become "global citizens" with multiple home countries, our web data exposure via search and online product propositions has never been more processed by our current estimated geo-location and to varying extents commercial motivations towards expanding the revenues of local search advertising and regional price deltas. (DVD Regionalizing of the web's content?)

In no way am I decrying search engines or the people (like my old team) who spend long hours trying to ensure geo relevancy influences the search engine results page. Rather the growing inability to access a truly global snapshot of the web, simultaneously across geographies, is a concern.

Speculation, more speculation!

Speculation has driven food prices up, and is now driving gas prices up as well. It is a core feature of the ‘virtual  economy’ based on predatory finance, the main game of the global financier oligarchs who are now in practical control of the world’s strategic economic sectors.

Commodity speculation is getting to be a ‘plague of the 21^st century’ as claimed by a noblesse gentlaman from Europe, Italian Economics Minister Giulio Tremonti. How to stump out this plague is the greatest challenge facing mankind right now, at a time of recession in the Northern economies, recession that threatens to intensify into a global financial meltdown.

Below is an article from the Executive Intelligence Review that sums up the plague of the century. You may as well participate in the debates on how to curb it and reverse the global trend of financial madness.

[Writ 30 June 2008, Quezon City, MetroManila]

Tremonti: Commodity Speculation Is `The Plague of the 21st Century'

June 23, 2008 (EIRNS)—Italian Economics Minister Giulio Tremonti, an outspoken advocate of convening a New Bretton Woods conference, gave a speech in front of a meeting of the Italian trade union CISL, on June 22, calling on the trade unions to join him in the fight against the real causes of oil and food price increases: "international speculation."

According to the daily Il Messaggero, Tremonti called "surrealistic" his own government's plan, which projects a "planned inflation" of 1.7%. The reasons for that, he said, "are two. The first one is technical, the second one is political. The first one, everybody can get by calling the ECB, which demands to set an inflation rate under 2%." Tremonti gave the real ECB telephone number. "It is wrong to speak about inflation today. For at least the last six months, we should have been talking about speculation. International speculation was first financial speculation and in the past period, after some disasters, focussed on commodities, starting with oil." Therefore, either you fight a local battle, with old methods and old perspectives, or you fight a global fight, where you fight Public Enemy Number One: speculation.

"Speculation is the plague of this century, a specter that we knew would come, but not in this way and not so fast. Inflation can no longer be explained with the simple laws of supply and demand," Tremonti continued. He then attacked the left, because "in the Left camp, there are speculation managers who have been accustomed to smoke cigars and sail on yachts, and therefore the Left does not talk about speculation." The head of the leftist CGIL trade union, Epifani, protested. If what Tremonti says is true, he was asked, why does the government write the draft budget plan based on those figures? The draft, demanded by the EU, "is a surrealistic document of no use," Tremonti said.

The Anglo-Dutch financial oligarchy is realizing that Tremonti is becoming more and more of a threat. That might be the reason why the Financial Times today published a belated review of Tremonti's book Fear and Hope, saying in its headline, "Tremonti's Best-seller on Fear Strikes Chord." The review reports that Tremonti's actions are gaining popularity and support in Italy, and profiles his book from its weakest sides (anti-China, fortress Europe, etc.), but it does say that he calls for "a new, far-reaching Bretton Woods system," for "a strong state" and "deplores the left-wing protest movements of 1968."

One nation in the world ... Brazil!

In this concise and straightforward guide, author and international business consultant John J. Capela offers useful tips on all aspects of importing and exporting – from identifying target markets to finding customers to following rules and regulations. The book contains a helpful outline to be used when developing a distributor or agency agreement, as well as a clear explanation of alternative methods of payment that are unique to international transactions. It also has complete contact information for international trade offices for dozens of countries, and information on federal, state and local Government Assistance Programs designed to assist U.S. exporters.

With Import/Export For Dummies, readers will discover how to:

• Evaluate import/export opportunities
• Select products and find suppliers
• Set up an office for international trade
• Develop a marketing strategy
• Complete licensing and shipping documents
• Negotiate prices and arrange payments

Like all For Dummies® books, Import/Export For Dummies concludes with the “Part of Tens,” including a ten keys to becoming a successful importer and exporter (knowing how to classify products for tariffs, having the right insurance coverage, among others). The trusty “Cheat Sheet” lists some items the buyer and seller must agree on, legal pitfalls in international trade, and tips for getting goods through customs.

About the Author

John J. Capela (East Northport, New York) is president and founder of CADE International, a firm that provides consulting and training in international business. He is also an assistant professor of business at St. Joseph’s College in New York.

About For Dummies®

With near universal name recognition, more than 150 million books in print, and over 1,000 topics, For Dummies is the world's bestselling reference series. With loyal customers around the globe, For Dummies enriches people’s lives by making knowledge accessible in a fun and easy way. Described by the N.Y. Times as "more than a publishing phenomenon, but a sign of the times," For Dummies span every section of the bookstore, covering everything from health to history, music to math, sports to self-help, technology to travel, and more. The Dummies brand franchise has expanded with an extensive licensed product line, including DVDs, software, consumer electronics, cooking, cleaning and automotive products, craft and hobby kits, games and more. For information, visit Dummies.com. For Dummies is a branded imprint of Wiley.

For more information, contact: Adrienne Fontaine 201-748-5626 afontain@wiley.com

Import/Export For Dummies By John J. Capela Wiley; June 2008; $24.99 978-0-470-26094-4; Paper

SHARE: