U.S. exports continue to grow, but many American companies lack the international business know-how to capitalize on this potential source of increased sales and profits. Proliferating trade agreements and a weakened U.S. dollar have resulted in one of the most favorable export markets in decades. Foreign importers of U.S. goods report an increasing demand for U.S. products–from popcorn to pet food. The U.S. has enjoyed 11 straight quarters of increasing exports–yet with 95 percent of the world’s population residing outside of U.S. borders and an increasingly promising international sales outlook, experts are questioning why only 5 percent of U.S. companies are currently exporting. But how do we initiate and sustain growth in unfamiliar markets?

1. DEFINE STRATEGIC NEEDS

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With the huge amounts of business transacted online, there is a growing concern amongst businesses about managing payments. Business to business (B2B) payments at the international level are a major concern since the amounts tend to be larger and the charges are appreciable. This results in some loss in profits, which makes global commerce less attractive. From the smallest business operating on the web to huge conglomerates that transfer large amounts of funds internationally, everyone wants cost efficiency in their payment system. The issue is, of course, larger in the international payment segment because there is the currency rate to consider as well. So both types of losses, in currency and in transfer charges, need to be kept to a minimum.

Third party ePayment systems -

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In Chinese business culture, drinking plays a prominent role with many Chinese companies hiring what amount to professional drinkers, giving them professional job titles. Many Chinese people in professional jobs that I met, i.e. in accountancy and management positions, often have to accept the drinking culture in order to be accepted and to progress in their company, hence it is often necessary to put the drinking culture ahead of the direct needs of family sometimes.

Chinese people are very family orientated people and they care very much about their families. It is more a case that most companies expect their employees to conform to the company culture and to do well in a company, it is important to fit in with these ideologies. Many of my students spoke of the way in which it was necessary to entertain business clients with a good evening of drinking and a visit to a singing room in order to get a deal done. This use of alcohol in business seems to be changing gradually with several Chinese business people telling me that they are now tiring of the heavy drinking culture, and choosing instead to entertain clients out on the golf course. As someone who enjoys social drinking, I kind of like the idea of having a few drinks with clients at the companies expense and it is perhaps true that it is a great opportunity to learn about the real character of the client/s when they are drunk. The problem for many people though, seems to be the high amount of alcohol drank during these meetings and the difficulty of saying NO if you do not feel like drinking.

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