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Welcome!. While you enjoy your breakfast, consider these questions with your table As you look at your key target market, what are one or two significant risks that could adversely affect the success of your product/service in that market? - PowerPoint PPT PresentationTRANSCRIPT
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WELCOME!
While you enjoy your breakfast, consider these questions with your table• As you look at your key target market, what are one or two significant risks that could adversely affect the success of your product/service in that market?• What are some potential strategies you could incorporate into your business plan to mitigate these risks?
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VALET PROGRAM SPRING MEETINGMANAGING RISKS IN YOUR INTERNATIONAL BUSINESS
OCTOBER 28, 2011
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AGENDA AND LOCATIONS
Managing Risks In Your International Business
8:30 Buffet Breakfast & Roundtable Discussions Norfolk Salon V
9:30-9:45 Break and Room Change
9:45 Getting Paid and Keeping Your Money Norfolk Salon VI
Marsha Sompayrac - SunTrust BankGetting Paid and Financing Your Export Sales Tom Corbett - Marsh USAAccounts Receivable Insurance
Ryan Losi - Piascik & AssociatesTax Strategies/Keeping Your Money
11:00-11:15 Break Questions/Roundtable Discussion
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AGENDA AND LOCATIONS
11:15—12:00 Regulatory and Data Risks Norfolk Salon VI
Caitlin Clark - VEDP Changes in Trade Statistics Reports
Tom McVey – Williams MullenRegulatory Compliance
Matt McDavid - Marsh USA Cyber Security and Privacy Liability
Questions/Roundtable Discussion 12:00 Lunch Norfolk Salon V
David Watson - Reynolds Consumer ProductsProtecting Your Brand
Questions
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KUDOS AND UPDATES
Opower Named to the Cleantech Global 100 list. These companies represent the most innovative and promising ideas in clean technology and are best positioned to solve tomorrow’s clean technology challenges.
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KUDOS AND UPDATES VALET ALUMNI
SteelMaster Named “Top 10 to Watch” WinnerSteelMaster Buildings was named a “Top 10 to Watch” business by the Hampton Roads Chamber of Commerce May 19, 2011 in Virginia Beach
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BEYOND VIRGINIA CALENDAR CONTEST
• Be one of the featured companies in the VEDP-International Trade’s annual calendar
• Entries accepted Jan 15 – May 15 of each year.
• 2012 Contest Winners:– Alliance Industrial Corp.– BondCote Corp.– Northland Forest Products– QMT Associates
http://www.exportvirginia.org/calendar_contest_rules.html
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GROUP MARKET VISITS – THROUGH JULY 2012
• India Feb 20-24, 2012• Saudi Arabia Mar 10-14, 2012• China April 16-20, 2012• South Africa May 7-1, 2012• Brazil May 21-25, 2012• Farnborough Airshow July 9-15, 2012
Register online at http://exportvirginia.org/market_visits.html
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GLOBAL NETWORK COUNTRIES
16. Hungary17. India18. Ireland19. Israel20. Italy21. Japan22. Jordan23. Latvia24. Lithuania25. Malaysia26. Mexico27. The Netherlands28. New Zealand29. Norway30. Poland
1. Argentina2. Australia3. Belgium4. Brazil5. Bulgaria6. Canada7. Chile8. China and Hong Kong9. Costa Rica10. Czech Republic11. Denmark 12. Estonia13. Finland14. France15. Germany
31. Qatar32. Romania33. Russia34. Saudi Arabia35. Singapore36. Slovakia37. South Africa38. Spain39. Sweden40. Thailand41. Turkey42. UAE43. Ukraine44. United Kingdom45. Vietnam
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CURRENT PROGRAM PARTNERS
Advertising and Marketing Collateral• ACCESS, Inc.• Siddall ,Inc.
Corporate Strategy and Market Entry• CAPSTONE• China Channel Limited
Cultural Services and Translation• ABC Translation Services, LLC• TNB Language
Customs Brokerage and Freight Forwarding• C V International, Inc.• UPS• UTi, United States
Financial Services and Insurance• BB&T, International Services Division• M&T Bank• Marsh & McLennan Cos.• SunTrust Bank
Legal and Accounting• Piascik & Associates, CPA• Troutman Sanders LLP• Williams Mullen
Regulatory Compliance• Allegheny Brokerage Co., Inc• BSG Consulting
Web Development and Search Engine Optimization• Active Media• Hodges Digital Partnership
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SUBMIT YOUR REIMBURSEMENTS NOW!
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UPCOMING DATES
• Spring VALET Meeting – April 18, 2012 – Conference Theme TBA
• Graduation for the Jan 2010 Class– January 12, 2012, Richmond– Oscar and Monica will be contacting you soon to
schedule your Exit Interview
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SURVEY RESULTS
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SURVEY RESULTS
Top Risks Associated with Engaging in International Business
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SURVEY RESULTS
• I have been evaluating one market for the past 6 months - China. I have been two times this year looking at opportunities and entry strategy. The most complicated part of it is determining the strategy for entering the marketplace. It encompasses many of the other risks mentioned but strategic analysis is the most critical factor at this time.
• …[W]e feel that finding a way to operate efficiently and effectively can be a risk depending where we are internationally. There are and could be language, culture and strategic positioning barriers that may be difficult to overcome.
•The biggest challenge at the moment is the instability in the world economy. It makes penetrating new markets especially difficult.
• Each company may have different RF spectrum and intrinsic safety regulations which may force redesigning products at additional investment. Also, there is a higher cost of doing business internationally.
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SURVEY RESULTS
• I think our biggest risk right now is in the logistics of marketing and supporting our product along with meeting regulatory compliance requirements for exporting.
• We currently have business in the Egypt and the Middle East (Jordan, and Iraq) and have experienced [technological/property risk and political/stability risk] in our business.
• Data Rights, ITAR/EAR, difficulty in navigating regulatory environment
• Not fully understanding or complying with compliance regulations in the different regions that would impact our ability to expand our business.
• Operational Risk, Financial Risk, The two risks are linked in many ways. Coordinating logistics and expanding business present certain financial and labor commitments.
• Will native employees be capable of traveling and working safely in a US based company?
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ROUNDTABLE DISCUSSIONS
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ROUNDTABLE DISCUSSIONS
As you look at your key target market, what are one or two
significant risks that could adversely affect the success of your
product/service in that market?
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ROUNDTABLE DISCUSSIONS
What are some potential strategies you could incorporate into your business
plan to mitigate these risks?
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AGENDA AND LOCATIONS
Managing Risks In Your International Business
8:30 Buffet Breakfast & Roundtable Discussions Norfolk Salon V
9:30-9:45 Break and Room Change
9:45 Getting Paid and Keeping Your Money Norfolk Salon VI
Marsha Sompayrac - SunTrust BankGetting Paid and Financing Your Export Sales Tom Corbett - Marsh USAAccounts Receivable Insurance
Ryan Losi - Piascik & AssociatesTax Strategies/Keeping Your Money
11:00-11:15 Break Questions/Roundtable Discussion
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AGENDA AND LOCATIONS
11:15—12:00 Regulatory and Data Risks Norfolk Salon VI
Caitlin Clark - VEDP Changes in Trade Statistics Reports
Tom McVey – Williams MullenRegulatory Compliance
Matt McDavid - Marsh USA Cyber Security and Privacy Liability
Questions/Roundtable Discussion 12:00 Lunch Norfolk Salon V
David Watson - Reynolds Consumer ProductsProtecting Your Brand
Questions
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BREAK
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VISIT WWW.EXPORTVIRGINIA.ORG
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Upcoming dates
Next Orientation/Graduation Event: • January 12, 2012 - Richmond Omni - Richmond, VA • Just the January 2010 companies
Next Program Meeting:• April 18, 2012 - Richmond Omni - Richmond, VA • All VALET companies
Thanks for attending & have a save trip home
CALENDER CHECK