Why Do Companies Expand Internationally? 4 Main Reasons for Expansion

All developing countries have opened up their economy to the world. This is like extending an invite to foreign companies to set up base in the country. While on the one hand this helps countries tap their resources in the best possible way, on the other, it enables companies diversify their operations and multiply profit.

Growth within confined territories is always restricted. It limits the capabilities of companies with high potential. But when carried across the border it can prove mutually beneficial in more ways than one.

Organizations that have their presence in multiple countries are termed as Multinational Companies (MNC). These organizations are incorporated in one country but carry out their production and sales operations in various countries. In today’s climate of global economy, foreign sales surpass domestic sales and have helped countries rake in profits many times over. In a level playing field, the scope for companies is limitless. Likewise, consumers can look forward to buy world class products or avail services that otherwise would not have been available to them.

Thus by expanding companies help to fill in the product gap in other countries. Let’s take the example of brands like Mcdonalds and KFC. Both these brands are trusted for their exotic food products.

Today, while these brands have expanded themselves around the world, people identify their names with quality chicken fries and sandwiches. Expansion has helped them become household names and rake in huge profits. What if these companies were restricted to their countries? People around the world would have been deprived of good food and the growth of these companies would have been stunted.

4 Main Reasons…

Expanding business across borders help companies in more ways than one. Some other ways include:

  • Procure Raw Materials: Pushing business frontiers to countries producing the necessary raw materials can make it easy for companies to sustain their business in the long run. For instance retail giant Wal-Mart can gain immensely if it gets easy access to buy products directly from local markets in agricultural countries.
  • Save Costs: Developing countries are essentially low cost countries. Shifting to these countries can help companies save on money without compromising on production efficiency. Moreover, hugely populated countries like China and India offer skilled and cost effective human resources.
  • Cash In On Technologies: – When a company sets up base in a developed country, it has easy access to scientific and design ideas. This helps to accelerate research to improve on the quality of existing products as well as design and develop technologically advanced products.
  • Escape Regulations: Every country has its own set of rules and regulations which often prove to be big hurdles. Having base in another country can help companies escape measures that are regressive to growth.

Given the advantages of business expansion companies big and small are raring to reach out far and wide. In the coming years business expansion will grow by leaps and bounds.

 

3 Low Budget Yet Effective Ways To Market Your Business

Marketing is crucial to every business. In today’s world of cut throat competition the importance of marketing is increasing by leaps and bounds. However, marketing needs a well defined strategy. Mere marketing for the sake of marketing can hardly translate into sales. The best approach is to keep your marketing strategy simple. Simple marketing can be effective and less expensive. By keeping it simple you get a proper idea of whether or not you are heading in the right direction.

Having customers in local areas is of great importance to any business. It helps you build trust from the block level, and at the same time ensures you have steady source of loyal buyers. To start with, you need to focus on networking. Hooking up with schools, government agencies, major employers, churches and social organizations can help you get a firm footing in the market. Go the whole hog to ensure that your association is beneficial to every local level establishment. To stay ahead in the competition, back up your marketing strategy with quality, accountability, discipline, etc.

Given below are few simple ways to create awareness about your business

Hand shake and business card: There is no substitute to meeting people in person and talking to them about your business. Talk about how they would stand to gain from your business than about what you have to offer. Leave a card behind to remind them about your business in your absence. Meet as many people as you can. Even if a fraction of people turn into customers, by the end of the year you will have a substantial number of loyal buyers. Handbills do help, but they only elicit a casual or passing interest and can in no way replace personal meetings. However, handbills issued every now and then, can be a good way to reinforce your publicity stints.

Support Fundraisers: Fund raising programs can provide you an ideal platform to promote your business. You not only associate yourself with a cause, but subtly carry your advertisement out. For instance, you can get some signboards set up on behalf of the local body area, requesting people not to litter the area, with the name of your agency below. If you are into T-shirt business, and promoting the cause of the pernicious effects of smoking, you can print a few hundred of such shirts and distribute it to college students, in a sport meet, or any other college function. Initiating a cause, like collecting books for the under privileged, with you playing the lead role can also be a good attention catching move.

Special Offers: Special discount sales have their place of importance in public mind. Two in one offers or lucky draw lottery can arrest the interest of customers and draw them like a moth towards a candle.

The above mentioned strategies are easy to initiate, can be quickly planned, are result yielding and cost little. Instead of pouring dollars into media advertisements, you can drive sales using your own product as the incentive and have complete control over developments. .

How To Get People To Know About Your Business: Ways You Must Try!

Getting people to know about your business is arguably the most crucial part of your business. The market is teeming with businesses like yours. So, reaching out to people and informing them about your identity matters the most. But just reaching out to create awareness is not enough. Given the stiff competition around, you can’t afford to slacken up your efforts. You have to reach out to people at all hours, and with ideas that are both inspiring and innovative.

How can you make people differentiate your business from the rest?

The answer is branding. Branding lends a distinct identity to your business. People tend to identify brands with solution and good feelings. With a brand, your business gets a face and personality that facilitates interaction with consumers. If marketing is all about telling stories, your brand will ensure that your story spreads fast, and it spreads far and wide.

The next important aspect of creating awareness is the way you communicate. Communication again has two crucial ways to it. When you say something, make sure you mean what you say. Secondly, ensure that your message is warm and couched with care. Sell, but don’t sell aggressively. If you are communicating just to sell, make sure you sell subtly. An emotive aspect to selling can go a long way to build trust.

Choosing the right platform to sell your business plays also plays a very important role in spreading awareness. In today’s world, when it comes to choosing a marketing platform, you are spoilt for choice. The best option for you is to choose a platform that spreads your message fast and comes at an affordable price. Social media is one such platform that offers both these advantages. When you start off from this platform, you get to interact with consumers, which in turn provide you a chance to build a community – one which keeps growing with time. When you have a big band of trusted followers your message spreads like jungle fire.

What about direct marketing? Can you do away with it? Direct marketing has been the standard way of popularizing a business since ages. Even in today’s world of online marketing, field marketing has a very important role to play. However, your approach should be off the tangent. The days of aggressive marketing are a thing of the past. Today field marketing entails creating awareness through community programs. For instance, if you are into trendy T-shirt business, your off field marketing strategy should involve serving the community with T-shirts carrying your brand. You distribute T- shirts printed with your logo to municipal workers in charge of street maintenance. It should carry a catchy message on it, to draw people’s attention. You need to change your strategy from time to time, so that people get to know about your business on and off.

Getting people to know your business calls for some out of the box strategies. It takes time to create awareness, but once your brand gets well known, you just have to have to sit back and reap the benefits.

How To Become Disability Advocate And Start Disability Advocacy Business

If you looking for a career that is both rewarding and satisfying, then it’s time you opt for disability advocacy as a career. This job involves assisting disabled people in getting their benefits as guaranteed by the state. Though there is a system in place for the disabled, more often than not, most disabled end up being denied their benefits. This is because, not everyone filing for benefits know how to go about.

Hiring an attorney can assure of procuring benefits, but it involves huge expenses. Doing it themselves is an available alternative for many, but not many are aware of the law and how the system works. This is where you can step in as representative of the disabled person and with your knowledge of the disability program, help the disabled get benefits he is entitled to.

How To Become A Disability Advocate?

To become a disability advocate, you need to go through intensive training program in order to familiarize yourself with the disability law. There are several organizations that provide certified training along with ongoing support. Once you get certified, you can start take up the profession as a small business and thereafter specialize in this field with time. Chances of growing in this business is very high, because of peoples reluctance to shell out huge attorney fees which, in any case, may or may not bring them the benefits.

Different study programs pertaining to disability advocacy are available in the market. The basic program provides helps you learn everything about the subject. This program is affordable and is good enough to help you start your business from home. Advanced certificate programs help established DAs improve their efficiency..

To become a DA, you need to meet certain requirements. All of this is outlined in details in the Social Security Administration’s publication Your Right to Representation. It is always advisable to specialize in a niche field of disability. So, opting for a specialty in social security benefits can be extremely helpful. One such field of specialty is when an employee is not in a position to discharge his duties due to either a physical or mental disability.

Another way to become a disability advocate is to join an organization that supports the disabled. All it takes is ring up the organization or sign up on their website. This is a good way to start off a career in this field because disability advocates often have to work as volunteers to raise awareness in the society. Once you gain experience as a volunteer, your career can take a perfect take off.

Role and Benefits of Social Media In Growing Your Small Business

If your business isn’t on social media, then you are well behind in the race. As the saying goes, it’s never late to make a beginning it’s time you get along with the trend lest you are find it impossible to catch up. Let’s consider a few facts to drive home the point. A new survey on the popularity of social media has come out with some startling facts. I would rather call it some tell tale or enlightening facts. Nearly 65% of adults in the US are addicted to social media. About 80% of them solicit views on social media platforms on what to buy. Almost half of them are favorably disposed towards companies which are active on social media. Given these facts, do you think it is possible to get a firm foothold in today’s competitive market, without getting your business onto social media?

All said and done, being on social media platforms like Facebook, Myspace, You Tube and Twitter helps to improve the way consumers view your company. You can reach out to huge number of people at the same time at any hour of the day. Wouldn’t that be beneficial to your business? And to cap it all, this comes at no cost at all.

With a social media presence, your business gets a voice to communicate with consumers. With proper marketing methods you can spread your message far and wide and make your presence felt. Social media provides your business the opportunity to personalizes itself, and be in touch with all those who matter in an interactive and relaxed way. While on the one hand you can inform instantly, on the other hand you get a chance to address grievances immediately. What a distressed consumer looks forward to is an earnest and quick reassurance. The sooner it comes, the better. With social media you can address complaints and remove misgivings in a jiffy.

What consumers are looking for is a company with an identity. Social media can lend you the much needed “real” appearance which can distinguish you from the rest. You can transform your business identity into a personality and speak to them in their language. To sum it up, social media helps you build relationship with people. Once a relationship is built you get a perfect chance to build a rapport and win people’s trust. With trust on your side, half the battle is won.

How to Build Trust in Business: How to Make Big Brand Trust on You

If you are a small retailer or are planning to be one, getting big brands to your store can be a big challenge. Big brands can be a boon and at the same time a curse. Having them in your inventory can boost your credibility. Again winning their trust as a small fish entails lot of trouble. And that’s because, meeting their parameters to get their products is always a tall order.

The moot question is: Can you do away with well known brands. The answer is a big no. People identify products with brands. Ignoring brands is as good as ignoring people’s likes. However, brands don’t come for the asking. They are scared of giving it away to stores with low pricing, which may wind up soon, but not before harming the brands pricing. In the process the brands risk incurring the wrath of their main distributors.

How then to meet brand expectations is the million dollar question. All major brands would look into aspects like: your finances, store location and appearance, your business history and your experience. If you meet all of these it becomes very easy to hook brands. If you have finance and a good store location, than half the battle is won. Without these it is next to impossible to win them over.

But as discussed before, you just can’t do away with brand-names. How then to go about? If you hamstrung by your own deficiencies and yet would not want to forego branded items then do not go straight to the manufacturer. To start with, engage with a purchasing group or even a distributor. You have to be content with less profit in the beginning. But this provides you with a platform to sell your business skills with branded items. Once you manage to take sales to a better position, compared to the brands of competitors, you move towards a position of strength – from where you can call the shots. Having built your case thus, you can approach manufacturers at your terms.

However, achieving this is easier said than done. You need to have acumen of a special kind, all of which can’t be inborn. One acquires a part of this business intelligence by diligently studying the market, by gathering information about other successful retailers, all of whom have started from scratch, by learning how to cut deals with suppliers, and by working with a single minded obsession.

Making big brands trust you is difficult, but not impossible. It calls for both perseverance and tenacity.

How to Apologize to a Client? Learn These 4 Important Things

To err is human- mistakes are bound to happen, more so at workplace. No matter, how ably you plan and how capable your employees are, some mistake would surely happen, which is going to make your client unhappy. The reason for the problem or fault can be anything. However, at the end of the day, it is you who have to say sorry to solve the problem. Thus, you must know when it is better to say sorry to avoid any problem in future.

Keep these Points in Mind When Apologizing

  • Fast, not Furious: Whether you are new entrant in the business area or have been working here for more than 50 years, if there has been a problem from your end, you must apologize instantly. If you feel that there ought to be a problem in the future than you should apologize in advance as some people always do. If is better to come face-to-face and say sorry when there is still time. You would only help yourself if you say sorry to the client, even if somebody else under you has done the mistake.
  • Finessing the Client: If anything goes wrong that you have discovered but the client is still to find out, you can apologize in a different way. Try saying you could have done the work in a better way and that you are not completely satisfied with your work, etc. Ask your client to suggest ideas to solve the problem. In this way, try different ideas to apologize when you know you have done a mistake and the client would sniff it out anytime. The client would never get furious on you because you have already broken the ice with your gestures. You always have to maintain a understanding, caring, professional and emphatic attitude towards your client to expect back the same.
  • Avoid Bribing the Client: No amount of bribery would save you from the wrath of a client if you have made a mistake after spending the client’s money. It is better to apologize as soon as the mistake happens and fix it sooner than possible. It is only by fixing the stuff properly that you can keep the faith in the client. Otherwise, one client is enough to earn you a bad name.
  • Legal Ease: Always keep in mind the difference between admitting fault and apologizing. You cannot do either without accepting the other. However, it is more important to apologize. There is no need to point out the exact fault and apologize for the same. It is better to apologize for the situation and find out ways to solve the problem as early as possible.

The main fact remains that one must take the client in his confidence and make him comfortable at all time. A client would like it when you would show that you acknowledge his feelings and comprehend his frustration. However, you must never commit something that you can never accomplish just to make the client happy for the second time as this can work as boomerang

MBA Oil and Gas Management: Outlook and Future of This Career

Nowadays, a large number of candidates are seeking education in the management sector. If you are interested in earning a management degree, it is important for you to decide the field that you want to pursue. For instance, someone who is interested in the human resource section should go for that discipline only and not for the other ones. Yet, before pursuing MBA, it is also important for you to comprehend the market for each field and select something in which you will be able to get recruitment without much hassle.

These days, MBA holders in the energy sector are in demand and if you are someone, who has any sort of interest in this sector, you can try it out. Depending on your choice, you can surely go for the MBA degree in oil and gas management. Students who are interested in the energy sector are now pursuing this MBA course as the demand of the graduates with MBA degree in oil and gas management has increased globally. Fuel crisis has become a serious problem across the globe and someone who will pursue this course with great effort can surely expect a successful career in this field.

As per the report of the market surveys, degree of MBA in oil and gas management is best for those students, who have some kind of familiarity with the energy sector. Fresh graduates can pursue this course if they have the eligibility. However, it is better suited for people who work in this sector or who are somehow associated with this sector. People who are associated with this sector has a better understanding of the intricacies of this sector and so it will never be difficult for them to flourish in this field after completing the degree.

MBA degree in oil and gas management is a good choice, provided you do it from a reputed college or university. They can impart you the appropriate knowledge or skills that are required for undertaking a job in this sector. The oil and gas sector is one of the fastest growing sectors across the globe. Therefore, if you have the zeal to work hard for one year and complete the course, you can surely expect to enjoy a bright future in this field. There are several colleges and universities teaching this course. Enroll in the one, which is best suited for you and get the degree of success.

5 Must Read Tips If you Want to Be Successful Entrepreneur

Many people have the dream of starting and running a business of their own. However, some people hesitate to fulfill their dreams as they do not have the confidence of taking the risk of starting a new business venture. If you are among those people, who want to be a successful business entrepreneur, you need to follow some simple tips to pursue your dreams.

Time Management– This is one of the most important factors to be noted when you want to get yourself established as a business entrepreneur. When you are starting a business of your own, you need to know how to make the best use of your time for increasing productivity.

Use Your Resources Properly– When you are into a business, you should also give due importance to the resources that you are using. Select your resources depending on the type of your business and monitor for the best utilization of the smallest resources that you have accepted. Make sure your staffs are making the best use of their time and the resources provided to them.

Manage Your Human Resource– It is always advisable to appoint an experienced HR head for your company. Managing Human Resources of your business venture properly means not only getting the best services from the manpower but it also ensures that you provide them the best work environment to work in. Salary, incentives and other benefits that are required for managing the employees should be given due importance. It is only possible when you have an experienced person to frame the HR policies. You can also outsource the Human Resource works if you do not want to make investment for this.

Public Relation– When you are interested in running a business successfully, it is quite obvious that you will have to maintain proper public relations. If you have the skills, you can get the job done on your own or you can also appoint experienced professionals for maintaining the public relation desk of your office.

Social Media Relation– The importance of social media has increased significantly in the recent days. Your business should have a successful online presence and for that social media marketing is extremely important. Appoint a professional, who knows how to make your business stand in this competitive online market so that you can grow the venture easily.

When you are interested in establishing yourself as a successful business entrepreneur, you should have complete understanding of what you are doing. You should also know how to make your decisions correct.

How To Talk To A CEO? 6 Things To Keep In Mind To Impress Your CEO

How to talk to a CEO?

This one question arises in a person’s mind when he is assigned to meet a CEO of any company. A CEO of a company is a personality who is highly regarded. It is no joke if you have been asked to meet one CEO. If you do not want the outcome of the meeting to be a disastrous one, you must follow certain tips to handle yourself properly in front of him.

  • Do Your Homework: A CEO is a highly visible person. Hence, you would not find it difficult to track down professional and personal information of the concerned person. Collect all the necessary information before meeting him. Prepare yourself for the conversation with natural flow keeping in mind the information in the researched materials.
  • Be Specific: The most important thing for a CEO is his time. Hence, you should in no way knowingly or unknowingly waste it. When you are given a time for meeting a CEO, ensure that you keep your purpose and plan absolutely ready. Be prepared to answer certain questions that the CEO may ask to test your credentials or get answers to his queries. Try to be to the point so that you take his bare minimum time.
  • Ask Questions: Since you would be the one who is going to do all the talking, more specifically, questioning, hence it is important that you come prepared with the important questions to be asked. If you cannot find questions to be asked at a particular time, it is a wise decision to let the CEO speak. You can then frame questions based on the answers. Sometimes, it is important to take the benefit of the guidance, wisdom and experience of this kind of known personality. For getting that, you need to let them speak too about their personal and professional life.
  • Feed their Ego: A CEO is a very important of a person. Since he has achieved so much height, he thinks a bit high about himself, which is right too. If you want your meeting to be successful, you must boost his ego. However, you must not sound like a sycophant. Moreover, he would immediately understand your intention. You must appreciate him subtly so that his ego is boosted and he does not doubt your intension as well.
  • Plan for Redirection: Before your session ends, you must talk to the CEO and ask for the person with whom you can follow up later. He would surely like the idea since on one hand you would not be taking any more of his time while on the other, you are responsible enough to take on something constructive with his subordinates after the meeting.
  • Say Thanks: Saying thanks to the CEO for his time is of extreme importance. You can send him a mail by post or email him a “Thank You” note as well. However, thanking him immediately would look better. You must also remember to thank his assistants, as they are the source through whom you got access to meet the CEO and the same people need to be contacted in future also if you have anything to say to the CEO.

These are the basic tips that would help you to talk to a CEO of a company successfully. To add to the tips, it is important to stay cool and be in good humor if the situation demands.