In Spring 2013 Carlow MBA students enrolled in the Global Business course with Professors Rachel Chung, PhD, and Bruce Rosenthal, PhD, created investment proposals to export three products to China: nebulizers, home healthcare, and Moes Southwest Grill. Student teams performed country analysis, national market analysis, and discussed challenges as well as opportunities in marketing management, supply chain management, financial management, intellectual properties, and other legal or ethical issues in exploring the China market for these three products.
Designed based on NASBITE’s Certification for Global Business Professional, the Global Business course prepares students for the four knowledge domains of the certification program: global management, global marketing, global supply chain management, and trade finance.
One student summed up the key take-aways from this learning experience well:
1. Culture is important. Understanding people, ideas, religions, politics….the list goes on. Without having a solid understanding of the country you are interested in working with and growing your company helps to set up expectations as well as make decisions.
2. Understanding the cost related to exporting to another country are vital in determining the amount of monies needed to support your plan. Also, knowing which organizations would be best suited to provide you financial is vital. Also, the paperwork is important – and there is a great deal. Working with an organization that has solid working knowledge of all the paperwork and financial related to it is important.
3. If you are choosing a partner overseas – research them. With our China proposal, being aware of the potential corruption was important and we want to make sure that we have a sound partner.
4. Be patient. It takes time to build relationships. In China – minimally expect to take 2 years to do so.
Students particularly appreciated the opportunity to integrate multiple disciplines of business knowledge and apply skills in culturally sensitive ways. Continue reading