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Risk Management Quotes

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Risk Management Quotes

“As you move along the spectrum, the market-entry vehicles become more expensive, riskier, and require a greater time commitment”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“Everyone gets excited about making sales in a new market and loses sight of the real goal, which is to earn an acceptable return on the company’s investment.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“The spectrum of market-entry vehicles is vast, from short-term plays using domestic distributors to sell internationally, to long-term strategies like setting up foreign operations. Understanding the cost, risk, and time commitment involved as you move along this spectrum is crucial, as it determines not only the potential return on your investment but also the complexity of disengagement should you choose to exit the market.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry StrategiesInternational Business Machines
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“I've learned about this need for communication and connection with different departments from personal experience; in fact, this is one of the areas in this book where my knowledge comes not from my success, but from my failure. Fairly early in my career, I had the credit manager of our company come into my office with his hair on fire, wanting to know why I had just agreed to a distribution deal that had 120-day terms. If I'd been thinking further ahead and discussed it with him beforehand, this wouldn’t have been an issue. Fortunately, we talked it through and made it work, but it took some begging, genuine understanding, and empathy to make sure I could repair that relationship.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry StrategiesInternational Business Machines
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“The last great hope of humankind, I believe, lies not in governmental interventions or global treaties but in international business. It is here, in the web of personal and corporate relationships that crisscross borders and time zones, that we find our best chance for a peaceful and prosperous world. Every hand we shake, every deal we close, every bridge we build between cultures and economies holds more promise than a hundred resolutions passed in the halls of the United Nations.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“The complexity of managing an international business can be likened to playing a game of chess on several boards at once. Each country represents a different game board, and each move you make has consequences not just on that board but potentially affects the others. The successful international manager must therefore be a master of strategy and an excellent multitasker, constantly aware of changes on multiple fronts.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“As we explore the strategies for entering foreign markets, it becomes apparent that the differences in legal environments, cultural norms, and business practices require a high level of adaptability and foresight. For instance, what works in one country might be completely ineffective or even illegal in another, making the need for localized knowledge and expertise paramount.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry StrategiesInternational Business Machines
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“Building relationships across cultures is much more than just a business necessity; it is an art form that demands sensitivity, patience, and an open mind. A true global leader sees beyond mere transactions to the building of long-term partnerships that respect and honor the diversity of practices and values.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“Economic theories teach us about the efficiency of markets, but when it comes to international business, it's the inefficiencies that often create the greatest opportunities. Spotting these inefficiencies requires a keen eye for detail and an understanding of local consumer behaviors that only comes with experience.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“There is also a risk in some markets of a significant devaluation of the local currency. For example, if the country experiences a financial crisis and devalues its currency to the point that your goods are no longer competitively priced, you can lose your market position overnight. There are no easy answers when it comes to getting paid for international sales but planning in advance beats learning hard lessons after the fact. Choose the solutions that work best for your company and prepare for the implications of those choices. The best strategy is to do the due diligence on your new customers.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“Marketing in a new language presents another set of challenges when doing business abroad. Not only will marketing staff need to translate the company’s literature—brochures, manuals, and more—into the local language, they’ll also need to translate parts of your website or set up a new website entirely. When considering what to translate, keep in mind that a new set of customers may have different preferences for how they receive information.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“If your business success depends in some way on patents or trademarks you hold, you’ll want to research intellectual property law in the market you’re considering. You’ll need to refile those trademarks and patents, but in some countries, being able to set up and protect your intellectual property can be maddeningly difficult. Even if you’re able to file the paperwork, the practical protection of your property is another matter.”

EntrepreneurshipRisk ManagementBusiness StrategyInternational TradeCultural ExchangeInternational BusinessBusiness RelationshipsGlobal EconomicsGlobal MarketsMarket Entry Strategies
Book:Go Glocal: The Definitive Guide to Success in Entering International Markets
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“CSIPP™ (Crisis Solution Internal Philosophy and Practice) is a framework I created that is designed to help organizations effectively handle crises. It emphasizes proactive planning, continuous learning, and adaptability, focusing on maximizing the organization's ability to add value throughout the crisis.”

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Book:The Virtuous Boardroom: How Ethical Corporate Governance Can Cultivate Company Success
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