Today in Global Small Business: Global Supply Chain Finance for Global Small Businesses

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What's affecting me, my clients, my colleagues and other global small business owners:

• To support global supply chains, we need to help global small businesses.
• Tips for expanding your online business globally.
• How to grow your employee benefits as you expand globally.
• Quote of the week:  “Eighty-five percent of the reasons for failure are deficiencies in the systems and process rather than the employee. The role of management is to change the process rather than badgering individuals to do better.” – W. Edwards Deming
• How you can launch an international management career in an affordable way.
• Interested in reinventing your globalization efforts?  Try diversifying.

Diversification Is Key: China or Mexico?

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Global small business owners get it.

If there is one thing the pandemic taught the world, it was that we are over-reliant on China for everything from the key ingredients used to make cleaning agents to pharmaceuticals, surgical masks to personal protection equipment. That’s not diversification of risks. 

So where are people turning to?  Mexico.  And according to Foley & Lardner, many U.S. executives are pretty enthusiastic about it.

Expand Your Company's Culture

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In the article below, Allen Morrison, professor of global management and the holder of the Kristian Gerhard Jebsen Chair for Responsible Leadership at IMD (www.imd.org) talks about the importance of diversification as key to global expansion.  In addition, he says:

"Our research has shown that when a company does 50 percent of its business internationally, its performance can be optimized when it hires roughly a quarter of its executives from the countries in which it plans to operate.  The average among many leading American companies is a ratio of 17 percent foreign executives in a company that does roughly 40 percent of its business internationally.  In Europe, the average is slightly higher."

Read the entire article here.