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Chap015 - Chapter 15 Exporting Importing and Countertrade...

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Chapter Exporting, Importing, and Countertrade 15
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Case - Megahertz communications Britain’s leading independent broadcasting system builders Export strategy aimed at emerging markets such as Africa, Middle East, and Eastern Europe Pre-shipment financing a major problem due to high risk Banks concerned about reliability of new markets Lending companies charged significantly higher interest rates Currency fluctuations reduced value of payments received Megahertz sold to AZCAR of Canada More working capital for Megahertz Access to new markets for AZCAR
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Exporting To ship to another country for sale or exchange
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Promise and pitfalls of exporting Firms that do not export lose out on huge opportunities for growth and cost reduction Large firms pro-active in seeking foreign opportunities Medium and small-sized firms slow to respond Too busy with local side of business Ignorance of potential opportunities Intimidated by mechanics of exporting to a foreign country
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Improving export performance Assistance available to firms for export process International comparison Information sources Export management companies Exporting Strategy
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International comparison Biggest impediment to exporting is lack of knowledge of the opportunities available More than 200 countries with widely differing cultures compose the world of export opportunities Overcome impediments by collecting information Japan: Ministry of International Trade and Industry (MITI) and trading houses (Sogo shosha) Evolve an institutional structure for promoting exports
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Government support for exports www.bundesregierung.de www.miti.go.jp 15-2
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Information sources U.S. Department of Commerce International Trade Administration United States and Foreign Commercial service agency Provide “best prospects” list, “comparison shopping service” & customized market research survey for a small fee Organizes exhibitions at international trade fairs to help potential exporters make foreign contacts and explore export opportunities Matchmaker program
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Information sources Trade commissions Maintained by many large cities Provide business counseling, information gathering & financing Commercial banks & major accounting firms
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