Archive for June, 2009

The Online Market Relation to Global Sourcing – the Brighter Side

Friday, June 26th, 2009
Dylan Sun asked:




In the previous articles we have seen how global sourcing, multinational purchasing and

online market go hand in hand in the modern times and some of the negative aspects of not

utilizing online market facilities for carrying out multinational purchasing and global

sourcing activities. Now its time we have a more detailed look at some of the brighter side

of the coin and see how online market use brightens the scope of global sourcing and

multinational purchasing in various ways.

Now what is the ultimate dream of any businessman whether involved in global sourcing,

multinational purchasing and whether using online or offline market facilities? Well we all

know that the answer lies in making more money which in turn means making more sales and

hence the activities of all sorts such as global sourcing, multinational purchasing and so

forth by the use of traditional as well as online market portals. So what is the key to

making more sales? There is no single answer to this and we have to literally study a whole

text on business management to find out the various factors which would affect the sales

either in positive or negative manner but surely a bigger market with more reach and

expanse is one of the key factors in ensuring this. And here we come to the importance of

online market in providing a bigger and broader platform for carrying out activities such

as global sourcing and multinational purchasing in order to increase the profits of an

organisation.

What is it that makes the online market so special and different than an traditional market

in business activities be it global sourcing, multinational purchasing? As you may have

guessed it rightly it simply is the ease with which you can go inside the house of a common

man which no other marketing tool could possible do. Just take for example how many of us

would be happy to let total strangers inside our house who want to promote their products

or services. But see the ease with which an online market website can be accessed right

from our most private rooms such as our bedroom for carrying out activities such as global

sourcing and multinational purchasing.

So we see that the online market occupies an important position in the business world and

organisations use it for global sourcing, multinational purchasing and so forth, and in the

times to come online market will continue to increase its influence in the business world.



Global Negotiations

E-commerce in Global Sourcing Scenario

Wednesday, June 17th, 2009
Dylan Sun asked:




Body:

-What Is E-commerce And How Does It Augments Global Sourcing

E-commerce or electronic commerce, as it is popular, allows domestic as well as international trade over the Internet. The advent of E-commerce is boon for global sourcing and import and export. The boost to global sourcing and import/export through E-commerce is because of its to conduct online marketing, monitoring supply chain and monetary & data transaction in a dependable manner.

-Evolution of E-commerce with Global Sourcing

It is hard to tell whether import/export volume has swelled because of E-commerce but sure it made global sourcing easier to monitor with its evolutionary phases. Three decades ago, it facilitated fund transfers- albeit electronically besides facilitating exchange of POs and invoices in international trade. Electronic teller machines are the recent manifestations now overtaken by internet creditcard processing and endorsement of unsigned invoices even in international trade.

-Why is E-commerce Popular in International Trade and Import/Export

Looked at from both import and export traders’ perspective, international trade is easier conducted electronically. Here are the points why present international trade depends much on E-commerce.

1. Quick and ease of setting up E-commerce storefronts for both global sourcing as well as import/export

2. Automatic running off of an import and export outfit without having to recruit many staff

3. Global sourcing agents/companies can evaluate/list import/export vendors online

4. Software assisted documentation for each global sourcing and import export transaction

5. Ability to handle multiple, quick and secure data and money transaction crucial to international trade, simultaneously

-Security Concerns in E-commerce Assisted Global Sourcing

E-commerce is not without security concerns, loss/misuse of encrypted data which are still being seriously being viewed by import/export operators before engaging in international trade electronically. The truth is E-commerce providers employ SSL (Secure Sockets Layer) to encrypt data/money (remember banks) transfer from your desktop to your clients’. You can say, E-commerce is secure for both import/export operators as well as global sourcing agents alike.

E-commerce has arrived on the global sourcing scene as both import and export and international trade partners are accepting it. Despite its growing stature and popularity E-commerce is still thriving in retail sector domestically and the international trade needs to cover a long distance before it catches up. Another reason for import/export operators’ leaning towards E-commerce is the growing costs of delays in processing POs and invoices through traditional methods which render global sourcing useless.



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Career Advice – Are You Passionate About Your Work?

Wednesday, June 10th, 2009
April McCallum asked:




The acronym S.W.O.T. stands for Strengths, Weaknesses, Opportunities, and Threats. It is a simple method of identification and analysis. Most people are familiar with using S.W.O.T. in the workplace in reference to business, but this same technique can be applied as career advice as a guide for a personal check-up.

Are you passionate about your work? Are you living your dream?

If not, maybe it’s time to “S.W.O.T. yourself!” Use this simple method of identification and analysis to challenge yourself to become the best you can be today, and start moving toward the future you want tomorrow. Write the letters S W O T on a piece of paper. Take a mental inventory of yourself, what you have to offer, where you might like to improve, what you’d like to do, and what is standing in your way.

Strengths

Take a minute to think about your personal strengths. Oftentimes we box ourselves into a much more limited space than we deserve. For example, just because your last two jobs were in sales, doesn’t mean that you don’t have other skills or qualifications that you use on a regular basis. It’s likely that those skills could transfer into another role or job title quite nicely.

As an example, your main job may be as a sales person, but within your position, you spend a lot of time negotiating contracts, building rapport with customers and vendors, marketing and promoting your company or brand. To apply that to your S.W.O.T. analysis, in the category of “Strengths”, you may write down “Relationship Builder”, “Negotiator”, “Cross-Functional Communicator”, or “Marketing & Promotions”.

Don’t overlook or minimize the significance of non-functional qualities. Someone may have a stellar educational degree or years of experience, but be miserably lacking in people skills, creativity or the ability to think out-of-the-box. These might well be noted in your “Strengths” category and on someone else’s “Weaknesses” category!

If you think you might be ready for a change, take a serious look at your strengths. Would they be a good fit for another department, a different job title or function, or even another industry that you have an interest in? Have you updated your resume lately to reflect your strengths? Consider asking colleagues, customers or industry partners for referrals that highlight those strengths. Sometimes asking a trusted source for input helps. Oftentimes they are quick to point out strengths that are obvious to them, but not so much to you.

Weaknesses

Sometimes what we view or label as a weakness is really an opportunity in disguise. An opportunity to learn, upgrade or advance. We may already have 75% of the puzzle and just need to focus on enhancing the other 25%. That’s why the analysis is so helpful. It serves to clarify opportunities possibly hidden as weaknesses, as well as highlight areas that may be ripe for improvement.

If you are uncomfortable with new technology or giving presentations, for example, you can always improve through learning and practice. Take classes, get a mentor, study and practice. The best career advice is to get intentional and take responsibility for your future success.

On the other hand, if you consistently have a bad attitude, are late for appointments, or lack integrity, you just need to get with the program. Those are areas well within your control. In which case, you just need a good swat! Don’t self-sabotage your own potential.

If you have a legitimate weakness that can’t be helped, just focus on the areas you can improve, along with your legitimate strengths and opportunities.

Opportunities

Look at this category beyond “job opportunities”, or merely functions or duties. Try to expand your brainstorming into personal areas of opportunity. Do you long for relevancy, to have a voice, to express your creativity or to make a difference? What are you passionate about?

What do you want your opportunities to be – To make more money? Take on more responsibility, increase or change your job scope? Become more knowledgeable in order to add greater value in the workplace? Release your innovative passions? Become self-employed?

Now connect the dots. How can you position yourself to turn your opportunities into reality – Get more education? Work harder or smarter? Start being more intentional about networking, volunteering or getting your name out there? If you have a dream, nurture it. If you need coaching, find a mentor. If you have a goal, do what it takes to reach it. Be your own best advocate. It’s your ticket – find a way to write on it what you want it to read.

Threats

This is an interesting category. Some threats are out of our control, but not all. Threats might be things like “the economy”, “downturn in the industry, or the need for our products or services”, or “competitor has a superior product”. In a business scenario, these are things that threaten our success and there’s not a lot we can do about them other than take a good hard look at them and address the parts we may have minimal control over.

But when it comes to stepping back and taking a good long look in the mirror, what are your personal threats? What is keeping you from becoming the best you can be? Do you lack self-motivation, self-esteem or personal vision? Do you ignore known faults and repeat the same mistakes or negative behaviors? Do you need an attitude adjustment? Do you sabotage your own success? Are you able to identify fears that may be holding you back?

It all comes down to how much you really want to succeed; and, it all comes back to you personally. No one is going to hand you a golden ticket – you have to want it, and you have to go out and earn it. The good news is, whatever your personal threats are, you can take the reigns and pave a new and better path any time you are ready and willing.

Use your personal S.W.O.T. analysis as a challenge to let go of the things that are holding you back and hampering your success, and to embrace opportunities that will take you to the places you want to be. You don’t have to go anywhere today… but think about the possibility of tomorrow.

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