Which are the basic information you should have if you are to be an effective International Trade Manager in an exporting firm?
An export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. Export goods or services are provided to foreign consumers by domestic producers. The term "export" is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to an "exporter" who is based in the country of export. In International Trade, exports refer to selling goods and services produced in home country to other markets. The process by, which international trade is handled is known as the international trade management. Even if the international trade manifests favorable trends, there is competition to handle in the international trade market.
Managing international trade policies, restructuring them according to the need of the hour, implementing the various trades polices, abiding by the norms governing international trade, all are taken into account when one speaks of international trade management. The chances of diversifying the market base, attaining low costs of labor and manufacturing, economies of scale, first-mover advantage and faster growth rate of the economy in comparison to the home market, are some of attractions that woo companies to enter these markets. An awareness of the pitfalls that accompany entry into foreign markets is also necessary to fully reap the benefits. These pitfalls may be in the form of economic, socio-cultural and legal factors.
The decision to enter and operate in international markets is a strategic one. An awareness of various strategic issues is necessary to ensure success in foreign markets. The critical role of knowledge in generating organizational advantage has been increasingly recognized in the strategic management field, there is little research examining firm-specific foreign knowledge, the construct itself, its determinants, and impact on export performance. As the manager of an exporting firm I should perform the following functions.
- Gathering knowledge about the latest international trade happenings
- Imparting information to the clients in matters related to the betterment of trade with the client's trading partners.
- Helping the client grow by providing better networking facilities.
- Help building partnership.
I should master in the following areas of international trade to achieve in this arena.
To become an effective international trade manager, I should have the basic information regarding international trade management. The following information will helps me to do the international trade profitably.
FIRM’S ABILITY TO EXPORT
Our firm should evaluate the commitment of its management and staff to exporting, the funding options available, and our capabilities to increase production. Companies should only export if they are willing to invest the time and resources into researching the markets they are interested in. Important factors in deciding if exporting will be a profitable venture includes determining if there is a need for the product and determining which channel of distribution would be most successful. If our product has been successful domestically, remember that it may need to be modified to be marketable abroad.
Products that do not require a great deal of training for use, versatile products, and unique products tend to have a higher export potential, but investing the time to adjust your product to a viable target market can produce good results for products that do not fit into these categories. After we have assessed these marketing challenges, I will be better able to determine if exporting is right for my exporting firm.
It's true that the greatest volume of exported goods comes from a small number of very large companies. But actually, the number of (to get the improved and personalized new version of answer - click here)
