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Chattanooga Chamber - Selling to Global Markets Seminar
The Chattanooga Area Chamber of Commerce will host a seminar exploring global market sales Sept. 5.
The event will take place from 9:30 – 11:30 a.m. at The INCubator, located at 100 Cherokee Blvd. Guests must register to attend. Space is limited.
As the fifth installment of the Chattanooga Chamber’s year-long “Developing a Global Mindset” series, this seminar will feature presentations and interactive exercises that encourage audiences to further develop a shared cultural awareness and culturally literate business practices.
Presenters will include Jenny Whitener, chief executive of Bridge Consulting International, LLC, and Christian Höferle, president and CEO of Höferle Consulting. The discussion, titled “Selling to a Global Market,” will cover the following points of interest:
· The complexities of selling cross-culturally
· The basics of building and managing strategic global relationships
· The role of global networks in business development
According to Whitener, this seminar will build on past discussions to encourage participants to employ greater self-awareness when engaging in international business.
“Selling in the global marketplace is complex and requires businesspeople to understand their clients in ways beyond product features and benefits,” said Whitener. “Professionals need to understand what their diverse clients value, how they do business and, of course, how their products or services may benefit the client’s organization. When you’re selling globally, relationship management takes on a completely new context.”
Höferle agreed, stressing cultural literacy as a defining advantage for companies competing in today’s fast-moving world of global commerce.
“Doing business across political and cultural borders requires an expanded skill set, which ideally includes more than having the required technical and legal knowledge of the target markets,” said Höferle. “Businesses need to be aware that all their behaviors in the deal-making process are impacted and guided by cultural values.”
Companies can make the most of those cross-cultural interactions, Höferle explained, by seeking a deeper understanding of both their own cultural biases and those potentially held by international clients, customers and partners.
“Knowing about one’s own cultural-behavioral preferences and those of the other negotiators at the table will give companies a competitive advantage,” he said. “When taking a business global, executives will have to develop an understanding of how to approach a new client, how to build trust, how to communicate and negotiate, how to close a deal and how to maintain the international business relationship.”
More Business News
Last Update on October 31, 2014 07:28 GMT
SEOUL, South Korea (AP) -- Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.
Other Asian stock markets were also higher after the Japanese central bank's announcement Friday. The dollar rose 1.2 percent to 110.64 yen.
The bank said it would increase its asset purchases by between 10 trillion yen and 20 trillion yen ($90.7 billion to $181.3 billion) to about 80 trillion yen ($725 billion) annually.
The Nikkei was up 4.6 percent at 16,380.11 after shedding some of its initial gains. Hong Kong's Hang Seng rose 1.2 percent and Seoul's Kospi was up 0.1 percent.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Today. the Commerce Department will release its September report on consumer spending, which accounts for 70 percent of economic activity in the U.S.
Also, the University of Michigan will issue its monthly index of consumer sentiment for October. In September, the index reached its highest level since July 2013, led by greater optimism that the economy will grow and incomes will rise.
The Labor Department will also release the third-quarter employment cost index.
Before the market opens, Exxon Mobil will report its quarterly financial results.
NEW YORK (AP) -- Citigroup is slashing its third-quarter earnings by $600 million, saying that recent investigations by regulators have altered the results it reported earlier this month.
The New York-based bank on Thursday revised its quarterly net income to $2.8 billion from a previously reported $3.4 billion, citing legal expenses.
The bank's operating expenses rose from $12.36 billion to about $13 billion.
The company said in a statement the unexpected increase came from "rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters."
Citi previously reported third-quarter net income of $3.44 billion, or $1.07 per share, on Oct. 14. The results exceeded Wall Street estimates.
Like other major banks, Citigroup has been the target of lawsuits and government investigations for its role in the mortgage meltdown that helped spur the financial crisis of 2008.
SURGICAL GOWNS LAWSUIT
LOS ANGELES (AP) -- A lawsuit says Kimberly-Clark Corp. falsely claimed its surgical gowns met the highest standards for protecting against Ebola and other infectious diseases.
Lead attorney Michael Avenatti says the Texas hospital where two nurses contracted Ebola used to stock the gowns but it's not clear if the nurses had used them.
The $500 million fraud suit was filed Wednesday in federal court in Los Angeles on behalf of a surgeon who wore the gowns.
The lawsuit says Kimberly-Clark knew for a year that the gowns failed industry tests and allowed the transfer of bodily fluids, bacteria and viruses, but the company still promoted them as having the highest level of impermeability.
The maker of Kleenex and other consumer products says it doesn't comment on lawsuits but stands behind its products' safety.
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