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Chapter 13a Exporting, Importing, & Countertrade

Chapter 13a Exporting, Importing, & Countertrade -...

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13-1 Click to edit Master subtitle style Chapter 13 Exporting, Importing, and Countertrade
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13-2 Introduction Question: What type of firm benefits from exporting? Both large and small firms can benefit from exporting The volume of export activity in the world economy is increasing as exporting has become easier thanks to the decline in trade barriers under the WTO regional economic agreements such as the European Union and the North American Free Trade Agreement
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13-3 The Promise and Pitfalls of Exporting Export. Gov http://www.export.gov/ exportbasics/exp_001602.asp
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13-4 Introduction Question: What do firms that want to export need to do? Firms wishing to export must identify export opportunities avoid a host of unanticipated problems associated with doing business in a foreign market become familiar with the mechanics of export and import financing learn where to get financing and export credit insurance learn how to deal with foreign exchange risk
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13-5 The Promise and Pitfalls of Exporting Question: What are the benefits of exporting? The benefits from exporting can be great--the rest of the world is a much larger market than the domestic market Larger firms may be proactive in seeking out new export opportunities, but many smaller firms take a reactive approach to exporting Many novice exporters have run into significant problems when first trying to do business abroad, souring them on following up on subsequent opportunities
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13-6 The Promise and Pitfalls of Exporting Question: What are the pitfalls facing exporters? Common pitfalls for exporters include poor market analysis poor understanding of competitive conditions a lack of customization for local markets, poor distribution arrangements, bad promotional campaigns a general underestimation of the differences and expertise required for foreign market penetration difficulty dealing with the tremendous paperwork and formalities involved
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13-7 Improving Export Performance Question: How can exporters improve their performance? To improve their success, exporters should acquire more knowledge of foreign market opportunities consider using an export management company adopt a successful export strategy
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13-8 An International Comparison Many firms fail to consider export opportunities simply because they lack knowledge of the opportunities available Both Germany and Japan have developed extensive institutional structures for promoting exports Japanese exporters can also take advantage of the knowledge and contacts of sogo shosha , the country’s great trading houses
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13-9 Information Sources The U.S. Department of Commerce is the most comprehensive source of information for U.S. firms Firms can get a “best prospects” list of potential foreign distributors Firms can also participate in trade fairs or get assistance from the Small Business Administration
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13-10 Information Sources Dept. of Commerce- International Trade Administration Export. Gov SBA-
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