- •Unit 1. Free enterprise entrepreneurship: on the upsurge
- •Is entrepreneurship for you?
- •Is owning a small business for me?
- •Unit 2. Choosing the right business and developing your financial plans how to choose your business
- •Three Basic Kinds of Business
- •How to develop your financial plans
- •The stages of a business
- •Unit 3. Building an import/export business twenty questions on importing and exporting
- •1. Why are you thinking of starting a business? What are your objectives?
- •2. What makes you think you will be successful?
- •3. Do you plan to import, export, or both?
- •4. Do you plan to work as a merchant, agent, broker, or some combination of the three?
- •5. When you start, will you be working full time or part time?
- •6. Who, if anyone, can help you with the work in the beginning?
- •7. Which type(s) of product(s) do you plan to trade?
- •8. What will be your sources of supply – countries and/or companies?
- •9. What is your target market?
- •14. Which national and/or foreign government regulations will concern you?
- •15. What will be your company name and form of organization?
- •16. What will you do for an office, office equipment, and supplies?
- •Are you right for the business?
- •Interest in and Knowledge of International Economics and Politics
- •How to start importing/exporting
- •Setting up your business
- •Imports: selecting products and supplies
- •Exports: what comes first, the product or the market?
- •Choosing target markets and finding customers
- •Importing for Stock
- •Unit 4. A short course in management concepts of management and organization
- •The single greatest mistake a manager can make
- •Six skills for new age executives
- •Mastering decision making What Does It Take to Be a Good Decision Maker?
- •The Japanese Decision-Making Style
- •Negotiating agreement without giving in
- •Hewlett-Packard*
- •McDonald's
- •Nine small-business management pitfalls*
- •Unit 5. The nature of marketing what is marketing?
- •Marketing functions
- •The marketing concept
- •Marketing research
- •The marketing mix
- •Consumer vs. Industrial goods
- •Steps in your marketing plan
- •Industry and market structures
- •U.S. Marketing in the future
- •Unit 6. How to do business with your potential partners china
- •Hong kong
- •Singapore
- •South korea
- •Australia
- •Appendix
South korea
• Before undertaking a trip, make contact with a Korean in your country who can serve as a reference for you* and give you a letter of introduction.
• Bone up on Korean culture. Businessmen will be impressed if you know something about Korean culture and arts, especially pottery.
• Avoid business trips to Korea from mid-July through mid-August. Korean businessmen vacation then. October is a month filled with holidays when businesses are likely to be closed. Check the calendar of local Korean festivals when scheduling your trip. Businesses may not be closed, but there is a general holiday atmosphere, and it may be difficult to get anything significant accomplished. Also avoid the two weeks before and after Christmas.
• If you're dealing with a large firm, expect to be offered a car and driver.
• Don't worry about language problems. English is widely spoken in business circles, and most firms correspond in English. Catalogues and promotional material in English are acceptable.
• Be prepared for your meeting to be in a hotel coffee shop. That's standard Korean business practice. Most offices do have a room with Western furniture for visitors from abroad.
• Arrive no more than a few minutes late for an appointment, but don't expect corresponding punctuality on the part of Koreans. Westerners are expected to be on time*.
• If the meeting is in the company office, accept the offer of one of the drinks usually served to visitors: coffee, barley tea, or soft drinks*.
• Bring business cards printed in English on one side and Korean on the other. If you run out of business cards, it's easy to get a new supply printed on short notice.
• Show respect by using business titles, e.g., Manager Kim, Director Lee. It will also help you to keep people straight* since over 50 percent of Korea's population is named Park, Lee, or Kim.
• Be prepared for meetings to extend beyond the usual business hours.
• Be formal in manners and behavior until a close working relationship has been established.
• Show both friendliness and frankness in trying to sell your product or services, and be patient – business decisions are not made quickly.
• Phrase any question carefully, as Koreans tend to answer "Yes," to everything, since being polite and proper is most important to them. Don't say, for example, "Can the shipment be ready in four weeks?" A Korean may say "Yes," whether it can be or not. Ask instead, "When can this shipment be ready?"
• Try to establish a personal relationship with someone in the company, especially the person your own age in the highest position. It will be to your advantage, since he will act as your intermediary.
• Expect to do business with individuals rather than at a group business meeting. Further, expect Koreans to be very frank. It wouldn't be uncommon for someone to blurt out* "I don't like him" or some other direct comment if you were to mention a mutual acquaintance*.
• Note that Koreans are also friendly and proud of their personal achievements.
• Don't be put off* if a Korean colleague interrupts you. It's considered a sign of eagerness.
• Remember that making eye contact* is very important; it shows your sincerity and helps to form a bond with other people*.
• When passing an item to an older businessman, use your right hand.
Business Gifts: Expect to exchange business gifts on your first visit. Wait for Koreans to give you a gift first. Don't open the gift until you have left the group. Bring a gift made in your country, preferably something with your company's emblem, such as a pen. Or bring a bottle of Scotch. Avoid bringing food gifts, since Korean tastes are very different from Western tastes. An excellent business gift, however, is a large fruit basket, made up in Korea.
Business Entertaining: A man entertaining Korean business colleagues should not include their wives in the invitation, nor should he bring his own wife. Only people directly involved in the business dealings should be included.
• Don't expect to be entertained in a Korean home until you know your colleagues well. You will probably be invited to a bar or restaurant, where you'll be offered many courses which you will serve yourself. (The host does not put food on guests' plates as in China.) Although wives are not included, be prepared for a young Korean lady in costume to help guests with food and drink and to join in the singing and dancing.
• As a Western businessman, expect to be in a place of honor, with each Korean in your group wanting to pour a drink for you. If you don't take a drink, you haven't allowed each one to play host. If you're unsure of your ability to tolerate liquor, ask for a soft drink.
TAIWAN
• For best results, plan business travel during the months of April through September. Businessmen vacation January through March. Avoid the two weeks before and after the Chinese New Year, which falls in January or February. When making plans, check on dates of other holidays, since they vary according to the lunar calendar.
• Since business entertaining goes on until very late, try to start your round of appointments late in the morning. It would be rude to excuse yourself from the entertainment because of an early appointment.
• To make a favorable impression, learn a few words of Mandarin Chinese,* the official language of Taiwan.
• When scheduling appointments in Taipei*, allow at least 30 minutes between meetings (unless they are a very short distance apart and you can go on foot).
• Have business cards printed in English on one side and Mandarin on the other. Many people don't listen to verbal introductions. * They wait to see the card. You can have cards printed in Taipei in two days.
• When you leave for your appointments, have someone on the hotel staff write the address of your destination in Chinese characters*. Take along a card with the name and location of the hotel written in Chinese characters.
• Be prepared for Taiwanese businessmen to take a long time to come to a decision. Then – and only then – will they sign a contract.
• If you are in charge of setting up a subsidiary branch of a company, be sure to consult a feng-shui (literally "windwater") man. He is a geomancer* and helps people construct buildings in harmony with elements in the natural environment*. He decides the best position for the building entrance, the windows, the gardens, etc. People place great faith in this system. Be sure to take it seriously. Taiwan businessmen can recommend a suitable feng-shui man.
Business Entertaining: Expect business entertaining to be done in restaurants. You won't be invited to a businessman's home. As a guest in the country, you're not expected to reciprocate*. Bring a small gift for your host.
• Be prepared for business entertaining to be exhausting, because people tend to stay out very late at night.
• If you decide to host a business dinner, feel free to invite the wife of a businessman.
Business Gifts: Note that popular business gifts are Johnny Walker Red Label Scotch or a subscription to National Geographic or Reader's Digest. Give the gift to the person, not the firm.
