Embed Size (px)
DESCRIPTION
Professor Brian Butler. Class at university FBV in Recife Brazil
Citation preview
Global EntrepreneurshipDeveloping Global Mindset for Entrepreneurs
Brian David Butler
TeachingBrian Butler is currently a professor with Forum-Nexus which is co-sponsored by the IQS Business School of the Ramon Llull University in Barcelona and the Catholic University of Milan He teaches classes on International Finance and Global Entrepreneurship in Europe every July and January
In Miami Brian has taught Finance Economics and Global Trade at Thunderbirdrsquos Global MBA program in Miami
He previously worked as a research analyst at the Columbia University Business School in New York City
brianbutlerforum-nexuscombriandbutlergmailcomLinkedInbriandbutlerSkype briandbutler
Brian David Butler
InternationalA global citizen Brian was born in Canada raised in Switzerland (where he attended international British school) educated through university in the US started his career with a Japanese company moved to New York to work as an analyst married a Brazilian and has traveled extensively in Latin America Asia Europe and North America
Brian currently lives in Recife Brazil where he is teaching classes on ldquoGlobal Entrepreneurshiprdquo at the university ldquoFaculdade Boa Viagemrdquo
brianbutlerforum-nexuscombriandbutlergmailcomLinkedInbriandbutlerSkype briandbutler
KookyPlan ndash wiki for Entrepreneurs
Global Entrepreneurship developing the global mindset for entrepreneurs
Class 3Saturday April 10th 2010
Outline to cover today1 What is global entrepreneurship2 Tips for entrepreneurs3 Global mindset - defined4 Homework review
3 questions ndash print out spreadsheet - Review + student presentations
Team projects ndash review guidelines - Find out who teams will be (anyone not on team yet) - Team presentations ndash what countries What products
5 Finance section 6 Intl IQ7 Assign homework
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Brian David Butler
TeachingBrian Butler is currently a professor with Forum-Nexus which is co-sponsored by the IQS Business School of the Ramon Llull University in Barcelona and the Catholic University of Milan He teaches classes on International Finance and Global Entrepreneurship in Europe every July and January
In Miami Brian has taught Finance Economics and Global Trade at Thunderbirdrsquos Global MBA program in Miami
He previously worked as a research analyst at the Columbia University Business School in New York City
brianbutlerforum-nexuscombriandbutlergmailcomLinkedInbriandbutlerSkype briandbutler
Brian David Butler
InternationalA global citizen Brian was born in Canada raised in Switzerland (where he attended international British school) educated through university in the US started his career with a Japanese company moved to New York to work as an analyst married a Brazilian and has traveled extensively in Latin America Asia Europe and North America
Brian currently lives in Recife Brazil where he is teaching classes on ldquoGlobal Entrepreneurshiprdquo at the university ldquoFaculdade Boa Viagemrdquo
brianbutlerforum-nexuscombriandbutlergmailcomLinkedInbriandbutlerSkype briandbutler
KookyPlan ndash wiki for Entrepreneurs
Global Entrepreneurship developing the global mindset for entrepreneurs
Class 3Saturday April 10th 2010
Outline to cover today1 What is global entrepreneurship2 Tips for entrepreneurs3 Global mindset - defined4 Homework review
3 questions ndash print out spreadsheet - Review + student presentations
Team projects ndash review guidelines - Find out who teams will be (anyone not on team yet) - Team presentations ndash what countries What products
5 Finance section 6 Intl IQ7 Assign homework
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Brian David Butler
InternationalA global citizen Brian was born in Canada raised in Switzerland (where he attended international British school) educated through university in the US started his career with a Japanese company moved to New York to work as an analyst married a Brazilian and has traveled extensively in Latin America Asia Europe and North America
Brian currently lives in Recife Brazil where he is teaching classes on ldquoGlobal Entrepreneurshiprdquo at the university ldquoFaculdade Boa Viagemrdquo
brianbutlerforum-nexuscombriandbutlergmailcomLinkedInbriandbutlerSkype briandbutler
KookyPlan ndash wiki for Entrepreneurs
Global Entrepreneurship developing the global mindset for entrepreneurs
Class 3Saturday April 10th 2010
Outline to cover today1 What is global entrepreneurship2 Tips for entrepreneurs3 Global mindset - defined4 Homework review
3 questions ndash print out spreadsheet - Review + student presentations
Team projects ndash review guidelines - Find out who teams will be (anyone not on team yet) - Team presentations ndash what countries What products
5 Finance section 6 Intl IQ7 Assign homework
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
KookyPlan ndash wiki for Entrepreneurs
Global Entrepreneurship developing the global mindset for entrepreneurs
Class 3Saturday April 10th 2010
Outline to cover today1 What is global entrepreneurship2 Tips for entrepreneurs3 Global mindset - defined4 Homework review
3 questions ndash print out spreadsheet - Review + student presentations
Team projects ndash review guidelines - Find out who teams will be (anyone not on team yet) - Team presentations ndash what countries What products
5 Finance section 6 Intl IQ7 Assign homework
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Global Entrepreneurship developing the global mindset for entrepreneurs
Class 3Saturday April 10th 2010
Outline to cover today1 What is global entrepreneurship2 Tips for entrepreneurs3 Global mindset - defined4 Homework review
3 questions ndash print out spreadsheet - Review + student presentations
Team projects ndash review guidelines - Find out who teams will be (anyone not on team yet) - Team presentations ndash what countries What products
5 Finance section 6 Intl IQ7 Assign homework
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Outline to cover today1 What is global entrepreneurship2 Tips for entrepreneurs3 Global mindset - defined4 Homework review
3 questions ndash print out spreadsheet - Review + student presentations
Team projects ndash review guidelines - Find out who teams will be (anyone not on team yet) - Team presentations ndash what countries What products
5 Finance section 6 Intl IQ7 Assign homework
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Global EntrepreneurshipldquoFun things happen when you earn dollars live on
pesos and compensate in rupees but thatrsquos just the beginninghelliprdquo
bull IdeaEarn money in US dollars Euros Japanese Yen
British Pounds Swiss Francs
Living expenses in Brazilian Reais
Business expenses in Indian Rupees or Chinese Yuan (Renminbi)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Tips for Entrepreneurs
Suggestions to considerhellip
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Tips
The main benefit of your product should be explainable in one sentence or phrase How is it different and why should I buy it ONE sentence
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Tips Look for outside help
ldquoI not only use all the brains that I have but all that I can borrowrdquo mdashWOODROW WILSON President USA
bull Some of the worldrsquos best-known brands and products have been borrowed from someone or somewhere else The basis for the energy drink Red Bull came from a
tonic in Thailand the Smurfs were brought from Belgium Pokeacutemon came from the land of Honda The band KISS made millions in record and concert sales
but the real profit has been in licensingmdashgranting others the right to produce hundreds of products with their name and image in exchange for a percentage of sales
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Scalable model
Your business plan should target a ldquoscalable modelrdquo Remember this word as it will be important later
Make sure your business plan is scalable (ie can grow bigger without restraints)
Watch out for information and decision bottlenecks (often the entrepreneur themselves)
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Dream BIGDoing the Unrealistic Is Easier Than Doing the
RealisticNinety-nine percent of people in the world are
convinced they are incapable of achieving great things so they aim for the mediocre The level of competition is thus fiercest for ldquorealisticrdquo goals paradoxically making them the most time-and energy-consuming It is easier to raise $1000000 than it is $100000 It is easier to pick up the one perfect 10 in the bar than the five 8s
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Dream BIG
Having an unusually large goal is an adrenaline infusion that provides the endurance to overcome the inevitable trials and tribulations that go along with any goal Realistic goals goals restricted to the average ambition level are uninspiring and will only fuel you through the first or second problem at which point you throw in the towel
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Why waste a good recession
bullFacebook and LinkedIn launched in the post-2000 dot-com ldquodepressionrdquo Other recession-born babies include Monopoly Apple Cliff Bar Scrabble KFC Dominorsquos Pizza FedEx and Microsoft
bullLesson donrsquot wait for the ldquoright timerdquohellip launch today
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Reputation
Relationships
Who can tell me why these 3 are important for entrepreneurs
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
The 3 ldquoRrsquosrdquo of entrepreneurship
Risk
Calculated risk taking Risk =gt return (potential)
Types of risk Social financial
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Culture of risk takingbull Importance of risk-taking bull Entrepreneurship is about taking risk The behavior
of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea spending much time as well as capital on an uncertain venture
bull What are the cultural links between risk aversion and entrepreneurship Are some cultures more likely to produce more risk takers (and hence entrepreneurs)
httpkookyplanpbworkscom
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
ldquoCulture of Risk amp Entrepreneurship
bullCultural observation ndash American relation to risk in Silicon Valley
Failure = ldquobadge of honorrdquoNot afraid to fail (fast)Note in US its common to brag about
humble roots humble beginning ldquorags to richesrdquo
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bull Individualistic vs Collectivistic cultures Where do you see Brazilian vs US culture with relation
to individualist vs collectivistic comparison (example from class group at Disney world)
bull Hierarchy ndash flat equalitarian vs hierarchyQuestion is it ok to publicly challenge your boss or to
chastise an employeeCan decisions be made by the lowest of employeesDo low-level employess think ldquoIm just as good as the
bossrdquoFamous Quote ldquowe hold these truths to be self ndashevident
that all men are created equalrdquo Thomas Jefferson US Declaration of Independence
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Cultural ldquodimensionsrdquo important to consider for entrepreneurship
bullAcceptance of failureIs it socially accepted to fail in your
cultureIs failure celebrated (as a learning process)What historical role models of ldquoloosersrdquo are
apart of your national culture history
Question does national attitudes toward ldquofailurerdquo have an impact on the level of entrepreneurship in the country
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Famous story taught to US studentsbull He failed in business in 1831
He was defeated for Legislature in 1832His second failure in business was in 1833He suffered a nervous breakdown in 1836
bull He was defeated for Speaker in 1838bull He was defeated for Elector in 1840
He was defeated for Congress in 1843Again he was defeated for Congress in 1848He was defeated for Senate in 1855He was defeated for Vice President in 1856He was defeated for Senate in 1858
Who was this ldquoloserrdquo
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Abraham Lincoln
He was elected as President in 1860
bull And went on to become Americas ldquobestrdquo president
bull ldquoHe successfully led his country through its greatest internal crisis the American Civil War preserving the Union and ending slavery
bull Lesson If at first you dont succeed try try again
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Culture of Entrepreneurship
bullCulture of Abe Lincoln (see resume) ndash role models heros risk and failure
bullHow is that different in other countries Stigma of failure Easy to start again Funding Bankruptcy
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Take risks ndash even if others donrsquot think you will succeed
ldquoThe reasonable man adapts himself to the world the unreasonable one persists in trying to adapt the world to himself Therefore all progress depends on the unreasonable manrdquo
mdashGEORGE BERNARD SHAW Maxims for Revolutionists
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation Not just among your friends amp familyhellip But how is your reputation online If a future employer were to GOOGLE your name what
would he she find Note everyone in todays world has TONS of photos online
they would rather employers not see (remember that spring-break vacation Once content is online its there forever)
The goal is not to remove all traces of your past from online but to make sure that there is enough professional material that will come FIRST
So if an employer partner business associatehellip if they were to google your namehellip what would they find Are you giving off the right image Are you MANAGING THAT IMAGE
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
The 3 ldquoRrsquosrdquo of entrepreneurship
Reputation
Investors invest in competent entrepreneurs Business partners join reputable leaders Employees risk working for an entrepreneurs if they believe
in them Reputation is essential Embrace risk donrsquot fear failure but manage your reputation
(online especially)
Build with online tools LinkedIn Blogs networks
In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
The 3 ldquoRrsquosrdquo of entrepreneurship
Relationships
With clients bosses teachers alumni networks Entreprenurs must be the PR department the
marketing department the sales department You are the face of the company (so keep smiling) Build your network of influential people and ASK
THEM TO HELP YOU
Maintain with online tools
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
The 3 ldquoRrsquosrdquo of entrepreneurship
Suggestion actively try to take risk everyday (get into habit) + work to build your reputation + relationships
Future lecture hellip will cover social media talks
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Tips
ldquoThe most important actions are never comfortablerdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Become a decision maker
ldquoTo have an uncommon lifestyle you need to develop the uncommon habit of making decisions both for yourself and for othersrdquo
ldquoStop asking for opinions and start proposing solutions Begin with the small thingsrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Become a decision maker If someone asks ldquoWhere should we eatrdquo ldquoWhat movie
should we watchrdquo ldquoWhat should we do tonightrdquo or anything similar do NOT reflect it back with ldquoWell what do you want to hellip rdquo
InsteadhellipOffer a solution Stop the back-and-forth and make a decision
Practice this in both personal and professional environments
Here are a few lines that help (my favorites are the first and last) ldquoCan I make a suggestionrdquo ldquoI propose helliprdquo ldquoIrsquod like to propose helliprdquo ldquoI suggest that hellip What do you thinkrdquo ldquoLetrsquos try hellip and then try something else if that doesnrsquot workrdquo
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Global Mindset
definition
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
What is the ldquoglobal mindsetrdquo
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Buthellip Good for global entrepreneurs
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
NO
Prefer
Think Globallyhellip Act Globally
bull Pay attention to what is going on globally Opportunities threats inspiration
bull Take action globally Launch companies products serviceshellip
With Global Potential
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Challenge of course
bullLearn to develop ldquoglobal mindsetrdquo
bullObjectivesIncreased International IQAwareness of opportunities trendsAwareness of business models (from other
side of world)Interest in international Travel
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Defining Global Mindset
ldquoDeveloping a global corporate mindset (and a group of global managers as its main flag bearers) has become a key prerequisite for successfully competing and growing in worldwide marketsrdquo
more httpwwwgeocitiescomakottollideveloping_a_global_mindsethtm
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Defining Global Mindset
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Example ndash Case study of Global Mindset
bull Local furniture designer producerHigh price locallyWants to look abroad for market
bull Advice donrsquot just think about making products here to sell abroad First Stepndash design locally ndash make prototype locally
but mass-produce the products wherever cheapest (perhaps India) and sell to biggest market (perhaps USA)
Advanced build global design team (perhaps in New York Milan) with production wherever cheapest selling to global markets
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Another Example ndash Case study of Global Mindset
bullPurse designer from Sao PaulobullHires Italian design teambullProduces in ChinabullSells in USA
Earning US dollars (strong currency)Lives in Brazil (weak currency)
Result Lives very well Alibabacom
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Why Does Global Mindset Matter
bull ForcesldquoThe increasing complexity of the global
environment the continued flattening of organizations and the blurring of boundaries
bull ImpactWe need leaders who can collaborate with people
from all parts of the world
bull BenefitsFind opportunities others are missingUnderstand global competitors and customers
httpwwwthunderbirdeduabout_thunderbirdinside_tbirdtruly_globalglobal_mindsethtm
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
How to develop ldquoglobal mindsetrdquo
bullTravel
bullWatch international news - BBC CNN
bullRead international newspapers blogs
Example read businessweekcom in English Learn about local business models in USA consider copying model in Brazil
As you read Business Weekhellip think about ldquoLocalizationrdquo Would it work here
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Read international Business news
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
How to develop ldquoglobal mindsetrdquo
bull Find foreigners in your home town and go to dinner with them
bull Eat at foreign food restaurantsbull Join networking group with foreignersbull Ask questions
ldquowhat do you have in your home country that is greatrdquo
ldquowhat do you miss most from homerdquoldquowhat problems do you see here that you wish you
could fixrdquoldquowhat is missing here that you remember from homerdquoldquowhat types of businesses do you remember from
home but donrsquot find hererdquohellip Etc
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
How to develop ldquoglobal mindsetrdquo
bullJoin online networking groupsFacebook linkedinAsk same questions
Travel abroadTravel in your home countryTravel in your home city state
try to see the local through the eyes of the foreigners
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Developing Global Mindsetbull 1 Learn a language (Category advantage
Skills)
multilingualism is an essential element of an international career
Having basic comprehension and conversational abilities in one language is the beginning step
Take a class Join a language club Teach yourself online (see wwwlivemochacom)
Make your goal to add a minimum amount of fluency in one language As you build your fluency in one language start adding more languages to your skill sets httpbloggoinglobalcom
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Developing Global Mindsetbull 2 Join an international club or group (Category
advantage Community Involvement)
They say that you are a reflection of who you surround yourself with
If you want an international career start going to places where there are international people
Build your global competencies by discussing and exposing yourself to international politics economics culture and history
Meet the local Swedish Chamber of Commerce Join the International Students Club Have dinner with the local French Cuisine Connoisseurs
If there is no group that you gravitate towards start one yourselfbull See Recife International Society ndash meeting each month in Recife
httpbloggoinglobalcom
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Developing Global Mindsetbull 3 Study abroad (Category advantage
Education and Professional Experience)Enrich your educational experience by doing your
course work in another country Not only are you building your cultural awareness
but you are also exposing yourself to an international lifestyle
Transitioning to an international lifestyle is something that requires the right kind of personality
Your marketability as a future expat increases because you have already experienced life in another country
httpbloggoinglobalcom
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Developing Global Mindsetbull 4 Do an international internship (Category
advantage Professional Experience)
Kick off your international career by doing an internship abroad
Your internship experience gives you a competitive edge in the marketplace as a young professional that has exposure in the workforce as well as living abroad
Similar to a study abroad experience companies want to know that you can handle the pressures that an international transition poses
By interning abroad you have already proven yourself capable of excelling as an international professional even if it is an internship
httpbloggoinglobalcom
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Developing Global Mindsetbull 5 Build your network with international
professionals (Category advantage Skills Community Involvement)
Nothing is more important for an international profession than their network
Most international opportunities arise because of you word-of-mouth exposure into the international market
Start by joining a LinkedIn group or follow some key people on twitter involved in international hiring
The more people that know your international career goals the easier it will be to find a job or opportunity
httpbloggoinglobalcom
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Links ndash
good online referenceshellip
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
bull Resources and Toolsbull Startup Newsbull Startup Schoolbull TechCrunchbull Mashablebull GigaOmbull OReilly Radarbull Domain Name Searchbull Red Herringbull Startuppingbull HBS Working Knowledgebull STVP Educators Cornerbull Reddit Startupbull delicious Business Startup Web 20bull Technorati Startupbull Digg Startup
Online tools
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
bull How to Start a Startup Build something users love and spend less than you makebull Hiring is Obsolete The market is a lot more discerning than any employerbull How to Make Wealth To get rich you need to get yourself in a situation with two things
measurement and leveragebull Why to Not Not Start a Startup All the reasons you arent doing it and why most (but
not all) should be ignoredbull A Students Guide to Startups Starting a startup could well become as popular as grad
schoolbull Ideas for Startups The initial idea is not a blueprint but a questionbull Why Smart People Have Bad Ideas A hacker who has learned what to make and not just
how to make is extraordinarily powerfulbull The 18 Mistakes that Kill Startups If you avoid every cause of failure you succeedbull The Hardest Lessons for Startups to Learn Some things about startups are kind of
counterintuitivebull How to Fund a Startup Venture funding works like gearsbull The Hackers Guide to Investors Hackers dont know how little they know about this
strange worldbull How to Present to Investors Explain what youre doing and why users will want itbull The Equity Equation You should always feel richer after trading equitybull The Venture Capital Squeeze Why not let the founders have that first million or at least
half millionbull The Other Road Ahead You may not believe it but I promise you Microsoft is scared of
youbull What Business Can Learn from Open Source There may be more pain in your own
company but it wont hurt as muchbull What the Bubble Got Right Even a small increase in the rate at which good ideas win
would be a momentous changebull A Unified Theory of VC Suckage If youre not one of the very top funds youre
condemned to be the bad guys
Online guide from YCombinator
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Homework review 1
3-questions
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
In class assignment
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
But firsthellip lets take a look at the assignmenthellip
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Homework 13-questions exercise ndash AGAIN ndash try to improve 2nd time
bull Identify at least (1) major problem (1) major trend and (1) transferrable idea in
bull (a) locally ndash Recifebull (b) locally ndash Brazilbull ( c) globally ndash some other part of world or
worldwide
bull Due Saturday March 20th ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
3-questions exercise ndash AGAIN ndash try to improve 2nd time
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Tip look for ldquoproblemsrdquo
Creating demand is hard Filling demand is much easier Donrsquot create a product then seek someone to sell it to Find a marketmdashdefine your customersmdashthen find or develop a product for them
Be a member of your target market and donrsquot speculate what others need or will be willing to buy
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
TrendsbullAnalyzing trends to find opportunities ie
Goals Awareness of global trends global business models
Possible Trends = wherever there are changes risks and opportunities
Look for changes in technology communications capital markets
regulations consumer tastes credit availability technology and more and how they create opportunities for entrepreneurs
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
ldquoThe future is here Itrsquos just not widely distributed yet ldquo
mdashWILLIAM GIBSON author of Neuromancer coined term ldquocyberspacerdquo in 1984
ldquoThe 4-Hour Workweekrdquo Expanded and Updated Timothy Ferriss
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Trends in Technology (to think about)
bullMobilebullSocial bullTv + internet (screen convergence)bullService on cloudbullDigital natives -born between 1980 andbullAlways onbull3-DbullMorehellip can you add to this list
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Tech Trends to watchbull Clean-techbull Cloud Computingbull computing becomes a utilitybull Crowd-Sourcing Using the power of groupsbull Blogging as a businessbull online video bull Software as servicebull semantic webbull Mobile Webbull making technology affordablebull VoIPbull IPV6bull Convergence of Internet and televisionbull Ultra Mobile PCsbull custom fabrication bull Developer Platforms (for social networking companies)bull Peer to peerbull Data Portabilitybull Information overload bull Putting computing technology in everything
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
LocalizationbullLocalization and replication locally
Localization of foreign business models and technology or
Finding local business models to replicate abroad
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Localization
Pay attention to cultural differences regulatory differences consumer behavior tastes taxes income levels and more
these elements should ALL be apart of your TEAM project
hellipin the process of evaluating localizing strategies
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
And nowhellip
bullTime for presentationshellip
bullEach student to select one (problem or trend)hellip AND one ldquolocalizationrdquo idea to the class
bullClass discussion review and feedback
bullGood luck
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Homework review 2
Group projects
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Homework 2Group Project
bull Pick your group (3 students)bull All groups must deliver the following
Proposed product serviceProposed 2 countriesOutline of major issues (cultural technological
political economichellipfor why it may or may not work)
Due Saturday 27th 10am Word document 2 pages maxsubmit by email to briandbutlergmailcom
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Country Analysis
bullThe first step of course it to conduct a thorough country analysis including culture political risk product adaptations and moreCountry Analysisinternational marketingpolitical risk assessmentValue ChainInternational perspectivesinternational strategy
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Country Analysisbull PEST analysis for market research - looking
outside the company to get a feel for the marketing environment
bull PEST analysis (marketing environment)
PoliticalLegalEconomical Competition Infrastructure
GeographicSocialCulturalTechnology
See links to KookyPlan the Wiki for Entrepreneurs
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Country Analysisbull Political
factors include areas such as tax policy employment laws environmental regulations trade restrictions and tariffs and political stability
bull Economic factors are economic growth interest rates
exchange rates and inflation ratebull Social
factors often look at the cultural aspects and include health consciousness population growth rate age distribution career attitudes and emphasis on safety
bull Technological factors include ecological and environmental aspects and
can determine barriers to entry minimum efficient production level and influence outsourcing decisions Technological factors look at elements such as RampD activity automation technology incentives and the rate of technological change
httpkookyplanpbworkscomPEST+analysis
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
TEAM PROJECTbullThis team project is designed to provide you
with a sound understanding of how entrepreneurs that engage in international business apply the concepts discussed in class to make real-life business decisions Your team assumes the role of consultants that will advise the chosen company on some critical issues related to expanding into a new market Teams will be made up of 3-4 students each
bullStudents will be asked to market a good or service from one country to another country The project must include the following sections
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
TEAM PROJECTI Product and Company Selectionbull Select a product or service that at least one members of
the team has a specific knowledge about and is currently marketed in a foreign country Describe the product the manufacturer and the international business orientation of the firm
II Market Analysisbull Research the possibility of bringing that product service
to another country (localizing the foreign business) Elaborate a market analysis in which you examine the competitive economical and political environment that will impact the future success of your product and company there Focus on the aspects of these environments that are most relevant to your company and product
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
TEAM PROJECTIII Market Entry Strategybull After selecting a product and analyzing the target market
evaluate the different market entry strategies available Assume that the company does not merely want to export its product to the given market but has plans to develop a more strategic approach to entering this market
IV Locationbull As part of your analysis in part III make sure to suggest
one or more particular cities or regions that will play a role in your proposed strategy Describe the advantages of the proposed locations in terms of operations and distribution among others
bull The project report should be between 6 and 8 pages long (Font Arial 12 Line Spacing 15)
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Factors to consider
bullSuccessful global entrepreneurship needs to take into account the culture political and legal environment economic system and development technology environment and the overall infrastructure
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
More Homework
Sorry
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Homework 3-questions exercise ndash modified
bull Identify (1) transferrable idea ABROAD and analyze if you think it could be brought to BRAZIL
bull Consider (PEST) factors 1 Political 2 Economic3 Social 4 Technological
Based on these 4 areashellip do you think the foreign business model would work not work in Brazil Why Why not
bull Due this Friday by midnight (before next class) ndash Maximum 1 page ndash word document ndash submit by email to briandbutlergmailcom
bull Be prepared to present your analysis in Class (with class review)
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
International IQ moment
Great stuff abroad you should know exists
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Phang-nga Province Thailand islands now known as James Bond Island attract 007 pilgrims to this day
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
Follow the 007 trailhellip
bull Licence to travel jet-setting with James Bond
bullNo one makes travel look so effortlessly suave as good old 007 Get on board the adventure with these Bond-themed destinations
bullDo you like your travel shaken or stirred
