Trending Now

Iran Tensions’ Global Trade Impact Revealed by Seized Ship…

New Articles

How Can Businesses Survive a Global Recession?

global recession
Archives, Education, Global Trade Daily

How Can Businesses Survive a Global Recession?

Leave a comment

Imagine you’ve spent years building your dream business, pouring your heart, soul, and savings into it. Then, what could seem out of nowhere, a recession hits. Suddenly, the world economy is struggling, and your business is feeling the effects.

Your customers are cutting back on spending, your revenue is dwindling, and your future looks uncertain. It’s a nightmare scenario that no business owner wants to accept, but it’s a reality that many could soon face. That’s why it’s essential to have the right mindset and strategies in place to not just survive but even thrive in anticipation of this upcoming recession.

Looking to the future, the specter of a global recession casts a long shadow. Economic instability, geopolitical pressures, and a host of other factors are causing anxiety for businesses and consumers alike. A recession can be a difficult time for any company, with reduced demand, falling revenues, and the need to cut costs. Nevertheless, there are measures businesses can take to proactively prepare for and mitigate the impact of a recession.

We’ll explore some practical strategies that businesses can use to survive a global recession. By taking action now, businesses can minimize the impact of the downturn and emerge from it in a strong position.

From conducting an internal review of operations to diversifying revenue streams and utilizing high-yield savings accounts and trading options contracts, we’ll provide insights and advice that can help businesses weather the storm and come out on the other side stronger and more resilient.

Conducting An Internal Review

During a global recession, businesses must be prepared to make difficult decisions about how to allocate their resources. One of the first steps that businesses can take is to conduct an internal review of their operations to determine what is working and what is not. This review can help businesses identify areas where they can cut costs and conserve capital, while also identifying opportunities for growth and innovation.

To conduct an internal review, businesses should gather data and insights about their operations, including financial statements, customer feedback, and employee feedback. This information can then be analyzed to identify areas where the business is performing well, as well as areas where it is struggling. Businesses should also consider external factors such as market trends, competitor activity, and changes in consumer behavior.

Nurture Existing Customer Base to Decrease Churn Rate

Once the internal review is complete, businesses can begin to identify areas where they can cut costs and conserve capital. This may involve eliminating non-essential expenses, such as unnecessary travel or entertainment, or reducing spending on marketing and advertising. It may also involve renegotiating contracts with vendors or suppliers to secure better pricing or terms.

During a global recession, one of the biggest risks that businesses face is losing customers. As consumer spending decreases, customers may be less likely to make purchases or may look for cheaper alternatives. However, businesses can take steps to mitigate this risk by nurturing their existing customer base and reducing churn rate.

To nurture their existing customer base, businesses should focus on building strong relationships with their customers. This can be done by providing excellent customer service, offering personalized recommendations or promotions, and keeping customers informed about new products or services. Businesses should also make an effort to listen to their customers and respond to their feedback, whether it’s positive or negative.

In addition to building relationships with customers, businesses should also work to increase the value that they provide to their customers. This may involve offering loyalty programs, bundling products or services, or providing special offers to existing customers. By doing so, businesses can make it more attractive for customers to continue doing business with them, even during a recession.

Businesses should also look for opportunities to streamline their operations and improve efficiency. This can include automating certain tasks or processes, outsourcing non-core activities, or consolidating operations to reduce overhead. By streamlining operations and focusing on core activities, businesses can emerge from the recession in a stronger position and better equipped to take advantage of growth opportunities when the economy recovers.

Diversify Revenue Streams

Diversifying revenue streams is a key strategy for businesses looking to weather a global recession. By reducing dependence on any one product, service, or market, businesses can increase their resilience to economic downturns. This can involve exploring new product lines or service offerings to tap into new sources of revenue. Whether expanding into new markets or simply introducing new offerings to existing customers, diversification can help businesses adapt to changing economic conditions and emerge from a recession stronger than before.

Diversifying revenue streams and generating additional income is essential for businesses to thrive during a global recession. One effective approach to achieve this is by investing in high-yield savings accounts. By allocating a portion of their cash reserves to these accounts, businesses can earn interest without taking on excessive risk. Currently, the interest rates on high-yield savings accounts range from 0.25% to 5%, providing a relatively safe way for businesses to earn additional income. This can be particularly beneficial during a recession when revenue may be low, and the extra income can help businesses stay afloat. However, it is crucial to carefully research and compare different high-yield savings accounts to find the best fit for their needs, considering factors such as interest rates, fees, and accessibility. By doing so, businesses can maximize their returns and strengthen their financial resilience during challenging times.

A smart tactic that a business could approach is through trading option contracts. In a recession, markets can be unpredictable and volatile, making it difficult to generate profits through traditional investment strategies. However, option contracts can provide investors with the ability to profit from negative price movements, through put contracts and short selling. For businesses with sufficient cash reserves, trading in option contracts can be a way to mitigate the effects of the recession on their revenue streams.

It’s crucial to approach option contracts with seriousness and care, as they can provide a powerful means of boosting revenue for businesses. However, because of the high level of risk involved it’s essential to fully understand the intricacies of option trading before executing any trades. Just as you’ve invested time and effort into ensuring the smooth operation of your business, it’s essential to expand your knowledge and execute trades with precision and efficiency. With the right approach, options trading can be a valuable tool in your business strategy.

Conclusion

In times of global recession, it’s understandable to feel anxious about the future of your business. But remember, there are ways to prepare and even thrive in the face of economic challenges.

By taking a strategic approach, such as conducting an internal review, nurturing your existing customer base, diversifying your revenue streams, and staying agile, you can set your business up for success. Seek out new opportunities and control costs, but most importantly, don’t forget to be flexible and open to change.

Every business is unique, and what works for one may not work for another, so don’t be afraid to try different approaches. By combining these strategies with a willingness to adapt, you can emerge from a recession stronger and more resilient than ever before. Remember, your business is capable of weathering the storm and coming out on the other side, and with the right mindset and preparation, you’ll be ready to face any challenge that comes your way.

organization sustainability
Archives, Education, Global Trade Daily

How Your Organization Can Meet Ambitious Sustainability Goals in 2023

Leave a comment

C-suite leaders are looking toward one goal in 2023 — making their businesses more sustainable. Over 160 Fortune 500 companies in 23 countries have pledged to meet climate targets, but achieving long-term results requires ambitious sustainability goals.

Anyone in a leadership position can consider implementing these strategies to make their company greener by the end of the year. They’ll chart a path forward while minimizing a brand’s carbon footprint, so every business has a place in the fight against global warming.

1. Invest in Analytics

No one can make progress if they don’t know where they started. Leaders intent on meeting ambitious sustainability goals in 2023 must invest in analytics to understand what their company currently does that is or isn’t eco-friendly.

The data should include where the company stands on issues like water waste, carbon dioxide emissions and other forms of pollution. Asking questions is a helpful way to start, such as:

  • How green are the executive office branches?
  • Are production facilities putting the environment first?
  • Are partnered suppliers also going green?

Gathering this information into one document will show everyone what needs work most. It will also chart the way forward, given that the data serves as a future point of reflection when judging the quarter or year’s progress.

2. Look Into Collaboration

Creating a positive environmental impact can come with a steep learning curve. Many companies make more progress by collaborating with existing businesses or nonprofit organizations already known for going green.

A brand that makes beach supplies for tourists could announce a partnership with a volunteer organization that directs beach cleanup efforts. It would create opportunities for collaborative brainstorming in addition to positive marketing campaigns with sustainably minded consumers who already follow or respect the volunteer organization.

Additionally, companies could immediately direct portions of their profits to gain a greater global outreach. While working on business-centric changes, the donations would begin making a positive difference for the environment in the corporation’s name.

3. Make Small Adjustments

It may feel tempting to plan sweeping organizational changes to make a company more sustainable, but minor adjustments help the planet, too. It also demonstrates the C-suite’s dedication to the environment by involving them personally.

The manager at the executive office could install a smart thermostat. It would adjust the building’s temperature automatically based on ongoing factors like opening the front door, closing windows and how many people are in a room at any given time. Other options, like partnering with a recycling pickup company or switching styrofoam coffee cups with biodegradable alternatives, would help the company get started on sustainable progress.

It may also save money. A recent study found that hand dryers cost less long term than restocking paper towels. Efforts to cut waste also reduce how much a company spends on daily office necessities.

4. Study Green Competitors

Understanding how industry competitors have gone green is another way for organizations to meet ambitious sustainability goals. Executive leaders can study the changes in real-time and replicate successes without trial and error.

It’s essential to note how competitors went green by reading their eco-friendly mission statements and any announcements about partnerships. Those key details carve a path forward, but they also call to consumers.

Research shows that helping the environment is a primary motivator for consumers purchasing products from new brands. Companies who learn from and outdo their competitors in assisting the planet will win over more customers. Those shoppers are more likely to remain loyal since eco-friendly changes within the company will remain ongoing.

5. Write a Climate Pledge

Companies write mission statements to outline what they stand for and what they hope to do for their customers. People read them to know what they should hold organizations accountable for, including helping the environment.

Every executive hoping to make their company go green should write a climate pledge. The final draft posted on the company website will set realistic, ambitious sustainability goals and make them known. It’s much easier to turn plans into realities when consumers and employees understand what the brand is working toward.

6. Get Everyone Involved

Executive-office employees can get more involved with eco-friendly goals set by their company. They may enjoy feeling like they’re making a difference with their jobs and stay with their employer long term.

Once a month, the team could enjoy a company-sponsored vegetarian lunch. While listening to an officewide presentation, they’d avoid eating meat that requires natural resources at high production quantities to reach consumers. 

They could also use electricity-saving computers, LEB bulbs in office light fixtures and a low-flow faucet in the kitchen sink. Every small change involving more employees will create a team atmosphere that energizes people toward the company’s sustainability goals.

7. Remain Ready to Learn

Progress only happens when people are open to learning. Experts in environmental fields frequently publish new information regarding the successes and failures of current efforts to improve the environment. They may also find new challenges to overcome.

After setting and working toward eco-friendly goals, executives should keep an open mind to the continually updating world of sustainability. Books and articles from environmental leaders could reveal new problems that require solutions or encouraging news about ongoing efforts. 

Employees and consumers should also provide feedback. They’ll feel personally involved and engaged, leading to more effort spent on making green progress. Each input source will refine the organization’s goals so continual efforts become the new normal long after 2023 ends.

8. Determine Metrics for Sustainability Successes

It’s much more challenging to gauge success without predetermined metrics. Those standards will change in each organization because companies have different environmental goals.

Metrics could include pounds of waste recycled compared to last year or kilowatts saved over a month. The outline should also name the company’s primary sustainability goal, like only producing 500 pounds of waste from the executive office in a quarter due to new recycling efforts.

Benchmarking progress with frequent updates is an essential part of achieving any goal. Leaders can schedule recurring meetings to ensure the company stays on track.

Meet Ambitious Sustainability Goals in 2023

More companies are going green because consumers seek eco-friendly brands and products. Setting and meeting ambitious sustainability goals are possible if organizations use strategies like these in 2023. They’ll create viable paths forward with meaningful change, no matter what objectives the leadership team sets.

Top 5 Places to Incorporate Your Business
Archives, Education, Global Trade Daily

Top 5 Places to Incorporate Your Business

Leave a comment

Starting and running a business in your home country is safe, but “safe” is never good enough for ambitious entrepreneurs. If you’re ambitious, penetrating new international markets has to be at the top of your agenda. You have to take risky gambles in order to succeed in business. Though risky to start, offshore incorporations open up new B2C marketing possibilities, a larger target audience, new business experiences, and more steady income streams.

What does it mean to “incorporate” a business entity? In a nutshell, business incorporation means registering a business as a legal entity separate from you, the owner. In the eyes of the law, the business is a Limited Liability Company (LLC) or a Corporation that can legally transact business just like an individual citizen would. An LLC or corporation can initiate lawsuits, acquire & own property, and be sued. You are not liable for any losses the business might incur or lawsuits it may attract.

How to Choose the Right Place to Incorporate an Offshore Business

Here are a few considerations to make before deciding to incorporate a business in a country:

–          Tax implications on the business, its investors, and employees. Which tax relief provisions exist in the country and how do they benefit investors? How do income tax liabilities affect your employees’ overall remuneration? Are there capital gains liabilities that might affect your business profitability?

–          The amount of paperwork (licenses and other legal documents) involved.

–          How rich is the local labor market? What’s the cost of hiring and retaining human capital? How easy is it to fire employees in case you need to downscale or get rid of deadwood?

–          How easy is it for your foreign employees to get work permits?

–          How stable is the country, politically and economically?

–          Residency requirements- do the country’s business laws require you to relocate to the country before registering your business?

–          How easy are mergers and acquisitions in the country? You might need to sell, merge, or float the business down the road.

–          Availability of suppliers and customers.

–          Laws surrounding corporate governance.

–          Availability of recognized payment aggregators such as Square and PayPal. You don’t want to be forced to use unfavorable local payment processors that may not even inspire confidence in your business partners.

–          Does the country have a Double-Tax Agreement (DTA) with your country? A DTA shields you from double taxation on your income.

 Top 5 Places to Incorporate Your Business

  1.                   The United States

The US is the global leader on so many fronts. First, it is among the largest and most populous countries in the world. Second, its citizens have a higher-than-average purchasing power. Thirdly, on top of having a stable economy, the country has limitless commercial potential in terms of tech adoption. Fourth, being the biggest democracy in the world, the country is more politically stable and progressive. Lastly, although the country is far from perfect, it is made up of people of all kinds of races, religions, and sexual orientations. That gives you access to a culturally-rich labor market.

All the factors above combine to create a thriving environment that supports business growth. However, the United States has 50 states that operate almost like distinct countries. Each state has its own policies and regulations for foreign investors, particularly with regard to tax incentives. You may need a little bit of time to sample different states before picking the most favorable for your business goals.

 2.                Switzerland

Switzerland is very stable economically and politically. The country is also very accommodating, which is why it hosts many refugees from across Eastern Europe. It provides the ideal environment for business sustained growth and development.

It is worth noting that Switzerland is a small landlocked country. To encourage foreign trade, therefore, the country has put in place policies that promote foreign free trade. Import duties here are low and import quotas are few. The country is also known for favorable corporate banking facilities & services as well as impressive grants and tax incentives. Capital gain taxes, value-added taxes, and corporation taxes are all below 8%, which is significantly lower than in most western countries. What’s more, incorporation in Switzerland is so seamless that you can have everything done and dusted within a week!

 

3.                Singapore

The entire Southeast Asian region is prime for international business. The region’s economy is growing steadily thanks to decades of peace and political stability. Singapore is at the heart of this economic growth.

If you want to set a base in the fastest-growing economic bloc in the world right now, Singapore has to be your starting point. For starters, the country has DTA agreements with more than 50 western countries. That makes it the perfect getaway for western businesses. Secondly, the country operates under strict and comprehensive business laws that foster an ideal business environment for foreign businesses to thrive. Thirdly, incorporating a company in Singapore is a breeze considering that there are locally-based companies that specialize in incorporation paperwork. You can conduct the entire process online without ever setting foot in Singapore.

There are no capital gain taxes in Singapore, on top of there being a ton of tax incentives for foreign businesses. Singapore is also quite developed in terms of communication and transport infrastructure, creating a solid foundation for businesses to grow and prosper. The country is home to the region’s best seaport and container ports. Lastly, everyone in Singapore is connected to high-speed internet, which makes it easy for you to manage your business remotely and hire a remote workforce.

 4.              Hong Kong

Incorporating a business in Hong Kong is effortless, not to mention the unlimited business perks that the city has to offer. For starters, Hong Kong presents you with a ready market of almost 7.5 million people. Most of these people are in the upper middle class and have expensive tastes. Secondly, Hong Kong allows foreign business entities to register through e-registration, making the process seamless and convenient. Thirdly, compared to the rest of China, Hong Kong has much fewer restrictions on foreign businesses. The tax regime in Hong Kong is reasonably favorable- you won’t have to worry about sales tax and capital gains taxes, for example. Lastly, Hong Kong has allowed payment aggregators such as Stripe and PayPal, which makes international payments convenient and safe.

 5.                Panama

Panama is home to over 70 international banks that allow foreign investors to move money around the world without being watched by prying eyes. Panama guarantees you and your business partners maximum confidentiality and anonymity in all your business deals. The country is also economically and politically stable and safe. What’s more, Panama doesn’t charge foreign businesses any corporation tax for transactions made outside the country.

 Final word

Incorporating a company overseas can be tedious, but it can also be highly rewarding. The trick is in finding the best available country to set up a shop. We hope that the article has opened your eyes to the endless business possibilities beyond your country’s borders.

 

logistics transformation business
Archives, Education, Global Trade Daily

4 Digital Transformation Best Practices For Small And Mid-Sized Businesses On A Budget

Leave a comment

Companies have acknowledged that they must undergo a digital transformation to maintain their competitiveness in the quickly evolving business environment. However, it might be challenging to digitize your business on a tight budget. If companies don’t find out how to transform their best practices to take advantage of the latest technology, it’s predicted that 40% of them would close their doors in the near future. While just around 40% of organizations have scaled up their digital activities, a Gartner survey claims that approximately 87% of top corporate leaders think that digital transformation is a primary concern.

In this competitive and fast-paced digital world, it is crucial for companies of all sizes to embrace digital transformation. Digital transformation is the integration of digital technology into the strategy, operations, and products of a company. Since digitalization is becoming the need of the hour, how businesses with limited budgets can transform their process? SMBs can adapt to digitalization in an economical way by taking the following four specific actions.

1. Make Sure The Business Systems Are Integrated Seamlessly

The digital transformation effort begins with a commitment to improving customer satisfaction by streamlining operations, automating activities, and boosting productivity. However, flawless communication is also needed to achieve digital transformation between all the departments that are closely integrated. Building an internal system involves automating the connections between various corporate systems used by departments like administration, customer service, marketing, etc. Keeping things transparent, eliminating internal differences, and fostering a customer-centric mindset all support a firm to adopt technological change.

2. Provide Employees With Data-Driven Insights

Data must be at the core of making effective business decisions. Companies should focus their time on employing technology that lets their team draw conclusions and value from varied datasets. When developing products and procedures to enhance productivity and boost revenue, it’s imperative to have reliable data that may help SMBs to better understand the psyche of their employees and customers. Businesses can invest in artificial intelligence to enable employees to successfully decode data performance. 

3. Bringing Technology And Systems Together

Businesses implement technology integration to select and upgrade the systems or practices they use in their business processes. A complicated system results from the execution of several dissimilar systems to satisfy digital transformation demands. Bringing technology and systems together requires an integrated approach. Similarly, businesses operating in different locations and looking to optimize their transfers or withdrawals can take advantage of digital banking solutions using different payment services, such as Airwallex, to facilitate their business operations even more. On the other hand, neobanks facilitate instant deposits and withdrawals which are quicker than traditional banking methods. Since neobanks are exclusively virtual banks, businesses can access their financial reports at any time. Without ever setting foot inside a bank branch, employers can better manage their financial affairs with neobanks.

4. Educate Staff About Emerging Technological Innovations

Educating your team about system changes or technology innovations is one of the most effective ways to ensure an effective technology transition. When companies provide guidance and support, they will feel more comfortable using modern technology. Also, maintain a line of contact so they can share their thoughts on digital transformation. A business‘s strategy for digital transformation will be successful if it is well thought out and carried out.

The Bottom Line

An attempt to convert your business digitally may seem daunting at first. Businesses may use technology to their advantage as well with strategic planning, setting priorities, collaboration, and staff training. It is crucial for small to medium size businesses to keep up with their employees’ digital literacy. Companies should decide on their key priorities, start small, and make incremental changes to the way their business operates. Enterprises should conduct studies to ensure employees are instilled with a digital culture when developing digital transformation strategies. In this way, they can make sure digitalization efforts are carried out as efficiently as possible.

 

eco-friendly damage ratings retail packaging ISTA
Archives, Commentary, Education, Global Trade Daily

How Outsourcing Packaging Can Improve Your Business

Leave a comment

You might feel inclined to do everything independently when you start a business, from production to marketing, customer management, and packaging all done by a single company, beneath one roof. But, as you’ll soon learn, the modern economy can heavily incentivize you to outsource various aspects of your company.

Especially those that either take up to much workforce or require too much space. So, in this article, we will explore why outsourcing packaging can improve your business and how to find a decent company to do so.

Ways in which outsourcing packaging can improve your
business

When considering packaging, people often believe their team can handle it best. After all, what better way to connect your production to your packaging process than to have them done in the same building. And while this is theoretically true, it doesn’t paint the whole picture.

While packing your product can be more efficient, you must have the necessary space and workforce to make it so. Furthermore, just because your packaging process is efficient doesn’t mean that you will see an increase in revenue. Packaging speed is relevant for specific items, especially if you have the necessary storage space. Therefore, you’d be spending a lot of money to make your packaging process efficient while not getting anything in return.

Reduce business cost

With what we’ve said in mind, it shouldn’t come as a surprise that cost reduction is the first-way outsourcing packaging can improve your business. Namely, unless you have everything already set up, it will likely be more cost-effective to outsource your packaging to a third-party company. Yes, you will have to take shipping and storage into account, as well as some extra planning. But you can save a considerable amount of money.

Focus on your area of expertise

Properly managing a packaging department within a company requires resources. These do not only include the human resources that will pack your product and the space necessary for them to do so. But, it also includes further management staff. As you can imagine, all these resources can be saved and diverted into your area of expertise if you opt to outsource your packaging. Instead of worrying about whether you have proper packaging materials, whether your logo turned out right, and whether the staff is properly managed, you can focus on what you do best. Doing so will further improve your company and make the most of what you
already have.

While we are on the subject of recourses, it is worth mentioning that time is the most valuable resource, especially for a company manager. The time you will free up from outsourcing your packing can be used to improve your company further and increase overall revenue.

Finding a good packaging company

The only sure way in which outsourcing packaging can improve your business is if you find a good packaging company. All that we’ve mentioned so far will be for naught if you pair yourself up with subpar packers. The shipping, packaging, and storing process can be pretty complex, especially if you have a strict timeline. Therefore, it is in your utmost interest to do ample research and ensure that you pick the right packaging company for outsourcing.

Online reviews and ratings

The first step in finding a decent company to work with is to check online reviews and ratings. Any reputable company will be easy to find online on Google and the BBB website. What you are looking for are decent ratings from verifiable customers. Working with
companies that have little experience is a risk. And if your company heavily depends on the quality of the packing service, you should take as few risks as possible. Look for ratings and reviews that you know are credible, and see whether you can find companies similar to yours that worked with them previously.

Setting up for the long run

The idea of outsourcing your packaging implies that you will make a long-term business relationship with the packing company. As such, you not only need to research them, but you also need to outline your needs. Things like:

All of these are essential factors that you need to keep in mind. So don’t expect to set up a decent relationship with a simple phone call. Once you pick companies with suitable ratings and reviews, you will need to perform an interview. And during that interview, you must go over every aspect of your future business relationship. A contract outlining who is responsible for items and when is a must, and so is having a clearcut insurance policy.

Conclusion

It won’t take much experience to learn that outsourcing packaging can improve your business. You will not have to worry about the packaging process, which can be surprisingly difficult to
manage. You will also have more time and energy to focus on developing your business.
Considering the cost of setting up packaging within your company, with all the necessary supplies, staff, and extra space, you will soon see that outsourcing packing is often the more financially sound option. Nevertheless, working with a reputable company is the only way to reap the benefits of outsourcing your packaging. Reviews and ratings are your first step in finding a good company. And the rest are all about understanding your business needs and finding a company that will suit them.

Author bio

Amanda Waterson worked as a logistics manager for various shipping companies. She now focuses on consultation work and on writing helpful articles for companies like helixmove.com. In her free time, Amanda enjoys gardening.

 

2020
Archives, Datebook, Global Trade Daily

Dates You Don’t Want to Forget in 2020

Leave a comment

Midwest Association of Rail Shippers (MARS) Winter Meeting

Jan. 14–16

Westin Lombard Yorktown Center, Lombard, Illinois

mwrailshippers.com

“Rail’s 2020 Crossroads: Market Share vs. Operating Ratio” is the theme as the impacts of the declining freight market are discussed.

National Retail Federation’s 2020 Vision

Jan. 12-14

Jacob K. Javits Convention Center, New York, New York

nrfbigshow.nrf.com

“Retail’s Big Show,” as it is known, includes more than 38,000 retailers, vendors and expert participants.

Nulogy Presents: xChange 19

Jan. 19-21

Westin Phoenix Downtown, Phoenix, Arizona

xchange.nulogy.com

This is the preeminent conference for consumer packaged goods (CPG) brands and co-pack suppliers.

Southern Motor Carriers’ Jump Start 20

Jan. 27-29

The Renaissance Atlanta Waverly, Atlanta, Georgia

smc3jumpstart.com

This event covers all things supply chain, such as industry disruption predictions, ethical AI, cross-border logistics, freight profitability analysis, blockchain strategies and much more.

Cargo Logistics Canada

Feb. 4-6

Vancouver Convention Centre West, Vancouver, Canada

cargologisticscanada.com

The global impacts of China’s $1 trillion One Belt One Road and the massive global e-commerce surge are among the expo topics.

17th Annual RLA Conference and Expo

Feb. 4-6

Mirage Hotel and Casino, Las Vegas, Nevada

rla.org

Reverse Logistics Magazine’s annual event focuses on solutions and technologies surrounding reverse logistics and the circular economy.

38th Annual Mississippi Valley Trade and Transport Conference

Feb. 19-20

Omni Royal Orleans, New Orleans, Louisiana

mvttc.com

One of the longest-running river-related logistics events features expert panelists speaking on a range of important topics, including river statistics, port updates and commodities.

Food Shippers of America 65th Annual Logistics Conference

Feb. 23-25

J.W. Marriott Grand Lakes, Orlando, Florida

foodshippersofamerica.org.

This invitation-only conference is aimed at the food shipment field.

LINK2020: The Retail Supply Chain Conference

February 23-26, 2020

Dallas, TX

Gaylord Texan

Rila.org/supplychain

RILA LINK2020: The Retail Supply Chain Conference is the best way to network, learn, and explore hot trends in retail supply chain management.  Hundreds of executives from the top retailers will gather at LINK2020 to discover new, innovative strategies, find new solutions to their challenges, and position themselves as leaders in the field.

Automotive Logistics Mexico

Feb. 25-27

Marquis Reforma, Mexico City, Mexico

automotivelogistics.media/automotive-logistics-mexico

C-Level execs, directors and managers responsible for all areas of logistics and supply chain strategy for vehicle makers, parts suppliers, government, LSPs, tech providers and start-ups gather to learn the latest industry developments.

3rd Cold Chain Global Forum West Coast .20

Feb. 25-27

San Diego Convention Center, San Diego, California

pharma-iq.com

Senior supply chain, logistics, transportation, packaging, quality and operations stakeholders from both large and small pharma West Coast-based companies get a holistic temperature-controlled blueprint that goes from clinical supply chain to commercial supply chain.

AFFI Con 2020

Feb. 29-March 3

Cosmopolitan, Las Vegas, Nevada

affi.com

This is the American Frozen Food Institute’s premier event for frozen food and beverage makers, industry suppliers and logistical partners.

82nd TCA Annual Convention

March 1-3

Gaylord Palms Resort & Convention Center, Kissimmee, Florida

Truckload.org

The premier networking and education event in the truckload industry features diverse speakers, workshops and an insightful keynote.

TPM 20

March 1-4

Long Beach Convention Center, Long Beach, California

joc-tpm.com

Among the largest logistics, business and transportation events includes a variety of industry roundtables, workshops and mixers.

Elevate Annual Users Conference

March 2-5

Orlando World Center Marriott, Orlando, Florida

elevate.highjump.com

A diverse group of HighJump users, experts and industry leaders and partners discuss Warehouse Management Systems (WMS), 3PL software and Direct Store Delivery (DSD).

MODEX 2020

March 9-12

Georgia World Congress Center, Atlanta, Georgia

modexshow.com

The possibilities are endless thanks to 950+ exhibits and 100+ education sessions tailored to help you discover equipment and system solutions for your material handling and supply chain needs. With keynotes, networking, education and product booths, MODEX is where manufacturing and supply chain innovation come to life.

employees
Archives, Executive Education, Global Trade Daily, Special Reports

Why Sending Your Workers ‘Back to School’ is Good Business

Leave a comment

Learning shouldn’t stop when someone earns a diploma or degree, and that’s especially true in the workplace where the company’s fate – and an employee’s career – could rest on the constant thirst to learn and improve.

“Developing a culture of continued education and continuous improvement is critical if you want to retain your staff and provide them with advancement opportunities,” says Shawn Burcham (www.shawnburcham.com), founder and CEO of PFSbrands and author of Keeping Score with GRITT: Straight Talk Strategies for Success.

Essentially, Burcham says, sending employees “back to school” is good business, but that doesn’t mean you need to enroll them in Harvard’s MBA program.

“There’s plenty you can do right within your own doors and that employees can do on their own,” he says.

A few examples, Burcham says, include:

Establish in-house training programs. “Many companies spend thousands of dollars to send their employees to seminars or conferences,” Burcham says. “This strategy is fine, but personal growth starts by training in the workplace.” One example at PFSbrands, he says, was the creation of a Financial Literacy Committee that worked to make sure employees were educated about the financial aspects of the company, helping them to understand income statements and balance sheets. “This makes everyone more aware of the challenges involved with achieving profitability,” Burcham says. “Furthermore, this education provides everyone an opportunity to see how they can impact the company’s profitability and enhance their opportunity for additional income.”

Encourage everyone to read books for personal development. “One of my biggest regrets and mistakes in life is that I didn’t start reading books until age 40,” Burcham says. Now, he has created a book club at his company to encourage and incentivize everyone to continue to grow and learn, and he requires the senior-leadership team to read a minimum of 12 books a year. “I’ve seen dozens of people improve their lives as a result of implementing our book club,” he says.

Target lifelong learners in recruiting efforts. You can encourage employees to develop a continuous-improvement mindset, but it’s also possible to find people with that mindset in the hiring process, Burcham says. “We’ve found that lifelong learners are a great fit at PFSbrands, so we’ve developed systems and processes that help us to recruit these types of individuals,” he says. “Employees who don’t make an effort to continuously learn and improve will ultimately find themselves at another company. We train our leaders to not avoid the critical conversations with individuals who are not working toward improvement.”

“Despite how many degrees hang on the walls in their offices, wise leaders are committed to never stop learning,” Burcham says. “Whether it’s done in-house or at an industry conference, you owe it to yourself and your employees to engage in continued education. After all, a successful company’s growth is dependent on the capabilities of its employees.”

____________________________________________________

Shawn Burcham (www.shawnburcham.com), author of Keeping Score with GRITT: Straight Talk Strategies for Success, is the founder & CEO of PFSbrands, which he and his wife, Julie, started out of their home in 1998. The company has over 1,500 branded foodservice locations across 40 states and is best known for their Champs Chicken franchise brand which was started in 1999. Prior to starting PFSbrands, Burcham spent five years with a Fortune 100 company, Mid-America Dairymen (now Dairy Farmers of America). He also worked for three years as a Regional Sales Manager for a midwest Chester’s Fried chicken distributor.

mba programs
Archives, Executive Education, Global Trade Daily

QS RANKS THE TOP 10 GLOBAL MBA PROGRAMS

Leave a comment

QS is a mid-size company with 250 multi-cultural employees. With offices in London, Paris, Bucharest, Stuttgart, Mumbai and Singapore, QS boasts of a staff that speaks 26 different languages—and that’s just in the marketing department.

Such diversity is required when your company’s mission is to link high achievers from the graduate, MBA and executive communities around the world with employers, leading business schools and postgraduate departments at universities.

QS organizes the largest business education events in the world (the QS World MBA Tour, the QS World Executive MBA Tour and the leading postgraduate studies information event, the QS World Grad School Tour) and produces an extensive product range that includes print and online publications and software solutions.

Another thing the company produces are surveys, including its QS Global MBA Rankings 2019 that can be accessed via TopUniversities.com. Included are the top 250 programs around the planet. What follows are the top 10 with their ranks, program durations, average Graduate Management Admissions Test scores, fees in U.S. dollars and brief overviews.

1. STANFORD UNIVERSITY

Palo Alto, California.

Duration: 24 months

GMAT: 732

Fee: $110,000-$120,000

The prestigious private research university is currently overtaking its Ivy League rivals in the selectivity stakes. Its Graduate School of Business (GSB), founded in 1925, is the toughest to get into in the nation, with only a 7.1 percent acceptance rate. The GSB’s distinguished faculty includes three Nobel Prize winners, two John Bates Clark Award winners and 15 members of the American Academy of the Arts and Sciences.

2. HARVARD UNIVERSITY

Boston, Massachusetts

Duration: 24 months

GMAT: 730

Fee: $120,000

Harvard Business School (HBS), the Ivy League stalwart’s graduate business school, occupies four buildings directly opposite Harvard Stadium and across the Charles River from Harvard University. The HBS offers a full-time, two-year, residential MBA program designed to prepare students for global leadership roles. But is it worth $120k? Well, a graduate’s average salary three months after leaving the program is $137,293. 

3. PENN (WHARTON)

Philadelphia, Pennsylvania

Duration: 21 months

GMAT: 732

Fee: $120,000

The full-time, 20-month MBA at The Wharton School at the University of Pennsylvania includes a recommended 3.5-month summer internship. Such a commitment is necessary given the requirement for a major concentration of 4.0 credits, with a choice from 19 majors, plus 5.5 electives in addition to the core curriculum. A semester of study at the San Francisco campus is available by application.

4. LONDON SCHOOL OF BUSINESS

London, England

Duration: 21 months

GMAT: 707

Fee: $100,000-$110,000

“To have a profound impact on the way the world does business” is the LBS motto, which is drilled into students by a faculty composed of 130 world-leading, internationally diverse (30 nationalities) experts. With 75 percent of the world’s top 500 companies based in London and 1,000 start-ups launched per month in the city, students have access to excellent networking and employment opportunities.

5. MIT (SLOAN)

Cambridge, Massachusetts

Duration: 24 months

GMAT: 728

Fee: $120,000

The flagship MIT Sloan School of Management full-time MBA program is to be completed over two years, while an immersive, one-year, full-time Sloan Fellows MBA program is also available. The latter is a transformational course for mid-career executives from more than 20 nationalities, designed to help students build a global network of colleagues from for-profit and non-profit multinational organizations, entrepreneurial endeavors and governing bodies.

6. INSEAD

Fontainebleau, Singapore

Duration: 10 months

GMAT: 710

Fee: $90,000-$100,000

INSEAD’s accelerated, 10-month MBA program aims to develop successful, thoughtful leaders and entrepreneurs who create value for their organizations and their communities. Conducted on two campuses (one in Europe, the other in Asia), the program draws more than 90 different nationalities to classrooms, an unprecedented multicultural experience among business schools.

7. HEC PARIS

Jouy-en-Josas, France

Duration: 16 months

GMAT: 691

Fee: $60,000-$70,000

HEC Paris MBA is conducted on a 340-acre, wooded campus with its own chateau, just 17 kilometers from the center of Paris. If that’s not enough to have a potential student say “oui-oui,” there’s the fact that HEC Paris is situated in the Paris-Saclay Innovation Cluster, which is designed to unite France’s best research institutions, hi-tech businesses, startups and universities.

8. UNIVERSITY OF CHICAGO (BOOTH)

Chicago, Illinois

Duration: 21 months

GMAT: 731

Fee: $120,000

The “Chicago Booth Culture” promises to take students deeper into issues, broaden their perspectives and force them to question assumptions—including their own. “Instead of accepting the status quo, you’ll pursue the best thinking,” boast Booth School of Business recruiters. “You’ll develop the necessary skills to successfully take on any business challenge and the opportunities they generate.”

9. IE BUSINESS SCHOOL

Madrid, Spain

Duration: 12 months

GMAT: 685

Fee: $80,000-$90,000

The institution’s full-time, flagship International MBA program is described as a “transformational journey” that “shapes professionals and entrepreneurs, turning them into leaders that generate impact and drive change around the world.” An integrative and innovative approach to business education combines core business knowledge with customizable labs plus an elective period with 10 concentration areas in a full-time, one-year format.

10. COLUMBIA BUSINESS SCHOOL

New York, New York

Duration: 24 months

GMAT: 732

Fee: $120,000

The CBS MBA program’s curriculum prepares students to lead, build and manage companies while instilling an awareness of the societal effects of business decisions. “Students benefit from the transformative research and extensive, behind-the-scenes industry knowledge from the faculty leading the course,” according to CBS. “They also benefit from the cultural, ethnic, and sector diversity of fellow students in their learning team, or cluster group, which they join and learn with throughout the program.”

For rankings of the 240 schools and their respective program details, visit www.topmba.com/college/columbia-business-school/full-time-mba.