Quietly Building New Structures In Our World

 

©Laurel Delaney 2011, "Loyola University Chicago North Shore Campus"

"Peace is a daily, a weekly, a monthly process, gradually changing opinions, slowly eroding old barriers, quietly building new structures." ~ John F. Kennedy 

7 Billionth Person In Our World: Sorry, No Vacancy?

iStock/Thinkstock

In the coming days marks the celebration of 7 billion people on our planet.

The milestone, to be declared on October 31, 2011, is a huge spike from less than a century ago. In 1927, the global population was only 2 billion. Only 13 years ago, the population was at 6 billion, the U.N. says.

Have a look at people, possibilities and the challenges that come with dramatic population growth here.

Time to do some planning and invest in people power!

Creative Ways to Partner With Your Overseas Customer

iStock/Thinkstock

Export this.  Import that.  But how do you partner with your overseas customer (or supplier) in such a way that they feel totally committed to you?

Have I got the ideas!

Read:

Become Your Customer's Partner

5 Inspiring Ways to Partner with Your Overseas Customer to Grow the Relationship

Internet Start-Ups in Brazil

iStock/Thinkstock

A look at Brazilian investment firms and the role they play with Internet start-ups in Brazil.

According to the New York-based Latin America Venture Capital Association, five of 32 venture capital and private equity deals in Brazil in the first half of 2011 were early stage, seed or incubator investments. In 2010, that ratio was 12 of 28.

A few interesting companies that are mentioned in the article:

• Elo7
• Akwan Information Technologies (acquired by Google)
• Peixe Urbano
• Baby.com.br

Read the entire article here.

Deciding Against a Life-Sentence of Selling Soap

Creatas/Thinkstock

The Economist offers "the outlook for entrepreneurs in India."  And yes - we are all looking for the next Infosys.  One particular comment in the article stood out for me:

And yet, for all these barriers, new firms are emerging in unexpected places. Vinayak Chatterjee, who graduated from IIMA in 1981, first joined a consumer-goods firm. After deciding against a life-sentence of selling soap, he went on to establish Feedback Infra, an engineering and consulting firm in Delhi that specialises in infrastructure projects. With 1,250-odd staff, half of them engineers, and a list of blue-chip and government clients, it exemplifies the kind of high-end services that India could excel at. Mr Chatterjee reckons his costs are a quarter of rich-world firms’. Big parts of this business are “no different fundamentally from IT outsourcing”, he says. The priority for now, though, is to build scale at home. With about $50m of revenue, growing by about 30% a year, the firm is on its way to that goal. A flotation would be a natural next stage in a few years’ time.

Reminds me of the bold statement Steve Jobs once made to former Pepsi exec John Sculley when he tried (and succeeded) to woo Sculley to run Apple:  "... prefer to sell sugar water for the rest of your life or come with me and change the world?" (refer to 1983-1993).

So you can choose:  Become a global entrepreneur or sell soap in India for the rest of your life!

Read the entire article here.

Victoria's Secret Goes Middle East

Ingram Publishing/Thinkstock

In its early days of international expansion, Victoria's Secret -- with the help of partner M. H. Alshaya, run by Mohammed Alshaya (operator of Aeropostale and H&M stores as well) -- will focus on the Middle East.

Big issue?  Whether or not to install fitting rooms at lingerie boutiques in Saudi Arabia.

Read the entire article here.

Related article:  Victoria's Secret:  Taking It Slowly in the International Marketplace

We Made the List: The 20 Best Small Business Blogs!

Subject:  The 20 Best Small Business Blogs

Check out these great small business blogs - from Small Business Trends to Duct Tape Marketing + more - we are delighted to be among so many thought-leader bloggers!

Go here to learn more.  Thank you to BuyerZone for making this happen!  Congrats to our peers!

Hip Hip Hooray to Free Trade!

Goodshoot/Thinkstock

Barbara Weltman, founder and owner, Big Ideas for Small Business, Inc., writes an article for American Express OPEN Forum, "Why Small Businesses Should Pursue Free Trade."

We are all for BIG ideas!  And we are totally for open trade.

Related articles:

Direct Exporting:  Advantages and Disadvantages to Direct Exporting

Indirect Exporting:  Advantages and Disadvantages to Indirect Exporting

What is the Export-Import Bank of the United States?

Posted by:  The Global Small Business Blog

Exporting the Television Show Raymond

Perhaps Moscow will not find the show as funny?

Retiring Abroad? Here Are Five Top Countries

iStock/Thinkstock

International Living magazine rated the top five countries for (Americans) to retire abroad. Must you be an American to enjoy these places? You tell me!

Anyway, the Chicago Tribune travel section featured the International Living ratings.

The areas are rated based on real estate prices, cost of living, culture, health care, special benefits for retirees, infrastructure, safety/stability and climate.

The five countries are as follows:

1. Ecuador
2. Mexico
3. Panama
4. Spain
5. New Zealand

Check it out here.

Do Americans Still Know How to Make Stuff?

iStock/Thinkstock

Paul Fichter, who founded Taphandles in 1999, anticipates $11 million in revenue this year, employing 33 people at its Seattle headquarters and roughly 450 at the Chinese factory that produces the beer-marketing products it sells to breweries.

Mr. Fichter discusses the factors that led him to bring some of his manufacturing back to the United States with The New York Times.

Here's the last question posed by the interviewer:

Q. Do you think Americans still know how to make stuff?

A. Absolutely. My baby’s crib was made here, and that was important to me. I didn’t have to worry about the safety of, for example, the paint used. The key to success for the United States will be using machines instead of brawn. When we surveyed other countries, including Vietnam, the Philippines and Indonesia, we didn’t find the skilled labor base we needed. While I’m really proud of creating jobs here in America, it’s not just an emotional decision. It makes sense. 

Read the entire interview here.

Do you see this as a trend to bring manufacturing back to the United States?  We welcome your comments and insights.

Make a Sale, Research Your Market and Satisfy Your Customer: Here's How

iStock/Thinkstock

My recent column for Ann Dwyer's entrepreneur blog over at Crain's Chicago Business.

To make a sale, research your market and satisfy your customer

If you've missed my previous Crain's Chicago global business columns, they can be found on the right sidebar of this blog.

Related articles:

Five Ways to Satisfy Your Overseas Customer

Market Research:  Dreaded Chore, a Powerful Tool

How to Be the Happiest Person in the World

©Laurel Delaney 2011, "Bicycle on Pratt Pier"

As a kid I had a dream - I wanted to own my own bicycle. When I got he bike I must have been the happiest boy in Liverpool, maybe the world. I lived for that bike. Most kids left their bike in the backyard at night. Not me. I insisted on taking mine indoors and the first night I even kept it in my bed. ~ John Lennon

Why Global Entrepreneurship is a Good Career Move

iStock/Thinkstock

In many parts of the world, especially in the U.A.E., entrepreneurship is viewed as a good career move that offers high status, which also helps enable favorable media attention.

“Entrepreneurs in the UAE are looking eagerly for [business] opportunities in different sectors. They feel that they can improve their standard of living by owning a business rather than be employed,” al Mutawa told INSEAD Knowledge. “The type of business ranges from the regular to the innovative, and we even have lifestyle entrepreneurs.”

Read the entire article at INSEAD Knowledge here.

Today We Bring You: The World

iStock/Thinkstock

The World is a collection of private and commercial islands that form a singular expression of exclusivity. Located off the coast of Dubai and created by Nakheel, Dubai's premier developer, The World wants to become Dubai's exclusive island destination.

Learn more here.

How Delivering on Your Promises Matters in the World Marketplace

iStock/Thinkstock

My thoughts on the importance of delivering on your promises in the world of commerce.  It boils down to integrity, being true to your word.

Read:  Deliver on Your Promises | About.com Import and Export | by Laurel Delaney

Posted by:  The Global Small Business Blog

Revolutionary Global Entrepreneur: Steve Jobs

iStock/Thinkstock

On the theme of mourning the loss of Steve Jobs as well as celebrating his success, here's a look at what some promising Indian entrepreneurs had to say about him.  There's a reason for posting so much about Steve Jobs.  If you take the time to read what everyone is saying, you can set a new direction for your business and your life.

Here are a couple of comments before you click on the link below:

Anand, Kuliza, “Steve jobs is a truly inspirational leader for our generation. His greatest legacy would not just be the products he created but the number of innovative companies he will inspire.”

Kallidil Kalidasan, MindHelix, “The man who moved computers from a room to a portable box. Man responsible for the smartphone revolution! Really a sad day! Truly, Steve changed the world immeasurably!”

Kshitij Minglani, Homebuy360, “It was not about technology, not about creating a product that sells, but empowering the human race by creating change agents. And, as we leave for office today, we carry his thought in our pockets.”

Divyesh Kharade, Deltecs, “The world will not be the same any more. Steve Jobs re-defined and re-designed people’s life like never before. Truly the darkest day for all technology innovators! R.I.P Steve Jobs: An apple will be co-related to you more than Newton”

Read the entire article: Indian Entrepreneurs Salute Steve Jobs

Related article:  Why Hasn't India Produced an Innovator Like the Apple Founder?  And this is intriguing as well:   Steve Jobs, Atari Employee Number 40

The World Pays Tribute

©Laurel Delaney 2011, "Apple Store, Michigan Avenue, Chicago, Illinois, U.S.A., 10.8.11"

The tributes keep coming in from all over the world on the passing away of Steve Jobs.

I visited the Apple Store on Michigan Avenue in Chicago on Saturday, October 8, 2011 to give my farewell to Steve and condolences to Apple folks and as I stood in front of the store for half an hour, I was moved by the outpouring of emotion from people everywhere.  Some individuals prayed and set down a memento; many wrote messages on post-it-notes and affixed them to the front of the store window (as shown above; what you see is the left side of the store, the right was completely covered with post-it-notes too ... look closely at the messages and some of the items posted) and still others photographed or videod the experience.  You knew something larger than life had happened and it would never be the same again for many.

Steve was admired and respected around the globe.

Here's an interesting UK perspective:

Steve jobs:  the world pays tribute

Global Commons: Water

Photo credit:  ©Laurel Delaney 2011, "Water Fountain"

"I understood when I was just a child that without water, everything dies.
I didn't understand until much later that no one "owns" water.
It might rise on your property, but it just passes through.
You can use it, and abuse it, but it is not yours to own.
It is part of the global commons, not "property" but part of our life support system."

~ Marq de Villiers, Water, 2000

Can You Break This World Record?

iStock/Thinkstock

First lady Michelle Obama wants to jump into the Guinness World Records book next week by helping break the title for the most people doing ... __________________________ (fill in the blank).

She will lead hundreds of local children in doing this act on the South Lawn on Tuesday.

Find out what record she is attempting to break here or if you must, take your magnifying glass out and see the answer below.

Answer: Jumping jacks in a 24-hour period.

Posted by:  The Global Small Business Blog

The Apple iPhone 4S = Sensational!

iStock/Thinkstock

In memory of Steve Jobs, we feature the latest and greatest from Apple:  the iPhone 4S. 

Learn more here.  And catch:  Report:  Life As We Know It Already Changed Following iPhone 4S Debut

The World Is Insanely Sad Today: Steve Jobs Dies

iStock/Thinkstock

Considered the Thomas Edison of our time, Steve Jobs (1955-2011) died today.  We thank him for changing the world - making it a much better place to live.  May he rest in peace.  Our condolences to his family and all the Apple loyalists.

Wired (photo courtesy of Wired)
New York Times
The Washington Post
LA Times
CNN

Steve Jobs Wikipedia

The Global Small Business Blog:

Related posts (Apple)
Related posts (Steve Jobs)
Related posts (iPad)

Photos: Long Trip To China

iStock/Thinkstock

Award-winning photographer Kristopher Grunert just returned from a long trip to China and shared his exquisite new portfolio.  Go here to view.

While you are at it, check out his "My City Moves Me."  And here's a PDF file that describes some of his China photographs:  click.

Kristopher Grunert website

Amazon: Time to Go Global?

iStock/Thinkstock

Is Amazon testing the waters with its electronic gadgets to determine at some point whether to stay local or do a global roll out?

For Amazon, which has always been overwhelmingly focused on the U.S. and anglophone markets, the entry-level Kindle’s modest international support is actually a huge improvement. Even a year ago, when the third-generation Kindle launched, it was an English-only device.

Even in non-digital retail, Amazon’s global reach has been limited; the company is only now launching a Chinese-language bookstore, in tandem with a local bookseller. Building an international reputation takes time, partnerships and a lot of hard work.

Read the entire article:

From Kindle to Fire:  Why Amazon Needs to Go Global (Wired.com)

Related article:

Who Has the Global Edge on Wireless Reading Devices?

Best Bloopers in the Global Marketplace

iStock/Thinkstock

When you conduct business internationally, you absolutely must develop cultural awareness!  There's no easy way to tackle this sensitive issue but there is a way as noted below to have some fun learning about it.

Expanding internationally is a goal for most growing small businesses, yet the misuse of simple words can sabotage even your best border-crossing efforts. Just as one size doesn't fit all in importing and exporting, one word doesn't fit for all cultures, either. In fact, if used erroneously, it can cripple the most promising of international deals.

Read:  Adventures in Mistranslations from Around the World

Time by Chicago Sculptor Lorado Taft

Chicago Sculptor Lorado Taft's "Fountain of Time," ©Laurel Delaney photo

Chicago sculptor Lorado Zadoc Taft does Fountain of Time, or simply Time as featured above, measuring 126 feet 10 inches (38.66 m) in length, situated at the western edge of the Midway Plaisance within Washington Park in Chicago, Illinois (south side), in the United States.  Very close to the University of Chicago area.

Time was constructed from a new type of molded, steel-reinforced concrete that was claimed to be more durable and cheaper than alternatives. It was said to be the first of any kind of finished work of art made of concrete.  Before the completion of Millennium Park in 2004, it was considered the most important installation in the Chicago Park District.

Learn more here (including additional photos).

Posted by:  The Global Small Business Blog

6,775,235,700

iStock/Thinkstock

That's the world population 2009 according to Google who uses World Bank, World Development Indicators as its source.

According to About.com Geography:  World population as of May 11, 2011 is 6,852,472,823.

What percent of the world population are you selling?  Do you think we will hit 7 billion by 2012 or sooner?

Related post(s) on worldly population issues.

No. 2 Most Difficult Market to Enter in the World?

iStock/Thinkstock

China is considered the No. 1 most difficult market to enter and the United States is No. 2 despite attractive growth opportunities.  That's according to a new global report by international legal practice Allen & Overy.

The United States ranks third globally for growth opportunities behind China and India, but second behind China for perceived barriers to entry.

 Read the entire report here.

Results run counter to the World Bank's Ease of Doing Business Rankings which shows the United States No. 4.  Once you break into the market, one could say it's easy to do business in USA?

Just Say "Yes" to Free Trade

Comstock/Thinkstock

Daniel Griswold, director of the Herbert A. Stiefel Center for Trade Policy Studies at the Cato Institute and author of “Mad About Trade: Why Main Street America Should Embrace Globalization” (2009), says:

Republican leaders in Congress have been ready from day one to advance free trade by approving three pending trade agreements, with South Korea, Colombia and Panama. President Obama also favors the agreements, as do enough congressional Democrats to ensure their passage.

While the agreements probably will not put a visible dent in the U.S. unemployment rate, they will create better-paying jobs and more prosperity for American households.

Read the entire commentary here.

Related post:

Mad About Trade and By Golly, I am Going To Do Something About It!

The Tale of Cheescakes Exported Nearly On Open Account

iStock/Thinkstock

Our latest contribution for the American Express OPEN Forum via Small Business Trends.

Making Tough Decisions in the Global Marketplace
by Laurel Delaney

Posted by:  The Global Small Business Blog

SCORE's Outstanding Woman-Owned Business Winner

iStock/Thinkstock

And the SCORE 'Outstanding Woman-Owned Business Winner' is:

School House run by Rachel Weeks!

Instead of searching the world for her goods, they are Made in America.

Learn more about all the SCORE winners by reading Steve Strauss's Ask the Expert column over at USA Today.

Congrats to all the winners!

1964: The Tallest Residential Buildings and the Tallest Reinforced Concrete Structures in the World

©Laurel Delaney 2011, "Marina City Twin Towers, Chicago, Illinois, United States"

The Marina City Towers (as shown) were designed in 1959 by architect Bertrand Goldberg and completed in 1964 at a cost of $36 million. When finished, the two towers were both the tallest residential buildings and the tallest reinforced concrete structures in the world.

The complex consists of two high rise corncob-shaped 65-story towers (including five-story elevator and physical plant penthouse), at 587-foot (179 m) tall. It also includes a saddle-shaped auditorium building, and a mid-rise hotel building, all contained on a raised platform adjacent to the river. Beneath the raised platform at river level is a small marina for pleasure craft, giving the structures their name.

Learn more here.

If You Are a Band, Here's What You Need to Do to Go Global

Creatas/Thinkstock

An interview at Undertheradar:

Going Global is about getting bands to recognize what they need to do to be successful overseas. What are your recommendations for New Zealand bands if they were going to the UK to get their music on radio or to get noticed more generally?

Radio play is something where the sound needs to be right for the UK audience and obviously I don’t know everything that’s going down here but I feel like there is New Zealand stuff over in the UK that is appropriate and that perhaps some New Zealand bands wouldn’t travel as well. If a band’s going to go all the way to the UK don’t just go for a week. They should go, have a ...

Read more:  Jen Long (BBC1) - Interviews at Undertherader

Share Your Export Success Story

Deadline extended to:  September 30, 2011

One Way to Expand a Small Business Is To Export

iStock/Thinkstock

More and more small businesses are positioning themselves to go global.

"According to small businesses, the only way a business can expand is to export," said trade consultant Al Elgendy at a recent San Bernardino Economic Development Agency workshop for entrepreneurs looking to expand globally, as quoted by the Inland Valley Daily Bulletin. "It reduces the dependency on the domestic economy. When there's a downturn in the economy, the only way to expand is to go global."

Read more here.

Global Study On How Family Businesses Manage Companies During Uncertain Times

iStock/Thinkstock

In a study conducted by the executive search firm Egon Zehnder International, 720 executives were asked about their experience of family businesses.  Respondents included family business owners and executives from the Americas, Asia-Pacific and Europe. 

One of the biggest challenges for family businesses is recruiting top talent and integrating them into structures that have evolved over the years and that are often perceived as being short on transparency. When asked why they would not work for a family business, 40 percent of the executives surveyed name a lack of career prospects.  

Read more here.

Let the Good Times Roll; Let the Small Businesses Go Global

Photodisc/Thinkstock

More on how small businesses are going global.

Just the facts:

Facilitating small-business exports of goods and services is a top priority for the Small Business Administration and Export-Import Bank of the United States, which are following Obama administration goals to double exports by 2014.

The U.S. exported a total of $178 billion in goods and services in July -- an all-time high, according to data from the Bureau of Economic Analysis as cited by the Export-Import Bank.

In the Jobs Act signed into law in September 2010, President Barack Obama allowed for the SBA to increase its ability to provide export-related financing by raising SBA 7(a) loan limits to $5 million from $2 million on export-related loans.

The law made the SBA Export Express loan permanent, with a 90% guarantee for loans up to $350,000 and 75% for loans between $350,000 and $500,000, according to the SBA. It also provides three-year state grants of up to $90 million to help small-businesses owners grow the exporting side of their businesses.

In early August, the Export-Import Bank said it had hit a record $24.5 billion for export-related loan authorizations. The bank's financing supports more than $31.5 billion of export sales and 213,000 U.S. jobs, including 2,548 small-business export jobs.

Read more here.

World: To Be Creative, Hide Your (Re)Sources

©Laurel Delaney 2011, "Horse Flower Power"

“The secret to creativity is knowing how to hide your sources.” ~ Albert Einstein

Are You Short On Core Competitiveness?

iStock/Thinkstock

According to People's Daily Online, Chinese businesses ought to do better in the overseas market.

It is true that Chinese enterprises should improve themselves when going global. Compared with large European and American transnational enterprises, most of Chinese enterprises going global are low and middle-end industries. Most of them are traditional contractors. Their primary businesses do not involve science and technology as well as high added value, which make them short of core competitiveness.

Read the entire article here.

Not exactly sure what core competitiveness is?  I am aware of core competencies so I did some checking on core competitiveness ... a lot of Chinese reference this theory:

Identification, Formation and Maintaining of Core Competitiveness of an Enterprise

Discussions on the Core Competitiveness of Tourism Industry

How to Build the Core Competitiveness of Enterprises

America's Future Depends In Part on Globalization

iStock/Thinkstock

That's according to: America Needs a Makeover

“America's future—and the future of the world beyond America—depends on how well we deal with” four issues, they argue ... globalization ...

Read more here.  And Thomas Friedman is quoted.

Posted by:  The Global Small Business Blog

Using Trade Data As Competitive Business Intelligence

iStock/Thinkstock

Here's a great best practice on how to use international trade data as a competitive weapon for your growing global business. In this case, a vitamin manufacturer monitors their competition to get an international leg up.

One quick search by company, of imports from China could provide them with irrefutable facts of what was imported and where it came from, allowing them to continue selling their high-end product and protect their existing customer base.

Learn more here.

A New Concept: Business Without Borders!

iStock/Thinkstock

Business without borders, borderless business, Borderbuster - call it what you wish but in this case, HSBC unveils its new international business website geared toward U.S. companies involved in international business.

“Business without Borders” is billed as a “knowledge exchange” tool that offers industry-specific articles and commentary about global business. It includes content from The Wall Street Journal, Bloomberg Master Class and The Economist Intelligence Unit.

Beyond articles, it also allows business leaders to track global trade trends and identify the most promising locations for international expansion. Certain information is available only to those who register as members of the site.

Business Without Borders (BWB)
www.businesswithoutborders.com

Read more about this here.  BWB claims to be the first-of-its-kind knowledge exchange in the United States.

Posted by The Global Small Business Blog (founded in 2004 for entrepreneurs and small businesses interested in going global).

Note to HSBC:  Come to us when you launch your small business channel.

Using Distance As a Global Opportunity

Digital Vision/Thinkstock

“From day one the idea was to go global.  We’re in such a small market for games, you really don’t have a domestic market so you’re forced to go across the pond. This is a blessing in many ways and has served us fairly well.” ~ Matias Myllyrinne, CEO of Remedy Entertainment.

Find out how an Espoo, Finland-based company, Remedy Entertainment, goes after the biggest gaming market in the world:  the United States.

Game Theory:  Go Global or go home

1973: The Tallest Building in the World

©Laurel Delaney 2011, "Photograph taken from car at a stoplight, looking straight up."

Willis Tower, Chicago, Illinois, United States

The Importance of Export Licensing Control

Related article:  How to Determine Whether a Product Requires an Export License (U.S.A. perspective)

Doing Good While Going Global

iStock/Thinkstock

Over at the Crain's Chicago Business blog (under the "global" entrepreneurial banner), we interview Kate Koziol, the founder of Chicago-based K Squared Communications, to find out the importance of crossing borders to do good. In addition, Ms. Koziol shares her best practice on how to promote social-agency programs on a limited budget.

Read: Reaching Across Borders For Social Improvements

Posted by:  The Global Small Business Blog

Reaching Mexico's Consumer Base

Big Cheese Photo/Thinkstock

Based in Miami, GEE International, LLC is the U.S. based sales and marketing arm of Grupo Editorial Expansión, a Time Inc. Company since August, 2005. GEE International is the ideal source for American and international companies to reach Mexico's most affluent and diverse consumer base.

With more than 40 years experience, GEE is Mexico's leading publisher of high-end magazines.

Have a look at Expansion Magazine's 50 Most Powerful Women of 2011.

Punish Americans Who Outsource?

iStock/Thinkstock

I don't mind getting China to play fair but do you really think we should punish folks in the United States for outsourcing?  Refer to No. 5.

6 ways Washington could create jobs

Elizabeth, have you heard of President Obama's National Export Initiative?

Discover How To Use an Inspection Certificate

iStock/Thinkstock

Inspection certificates 101:

When shipping high-value products or when you are dealing with a very conscientious customer, an inspection certificate might be requested. An inspection certificate provides proof that what you are shipping is, in fact, what the customer ordered, and is also of good quality. 

Learn more (including companies who do this sort of work) here.

Rebuilding Our World Together ... Hand In Hand

©Laurel Delaney 2011, "Lend a Hand," Rogers Park, Illinois, U.S.A., artist mural

"I've learned that you shouldn't go through life with a catchers mitt on both hands.  You need to be able to throw something back."  ~ Maya Angelou

Made In China: Frisbee Versus a Stuffed Toy Animal

iStock/Thinkstock

I love analysis and this one's a doozy.  Pass it along to anyone who might benefit.  It's interesting (don't know if it is all necessarily accurate)  I welcome your comments to challenge or agree with what's said.

An excerpt from, "Why is China Cheaper?"

Most people would say the answer is obvious -- lower wages in China compared to the United States. However, that answer is only partially true. Why? Because labor is only one part of the total cost of a product, and in many cases it's as low as 20% of the total cost.

Let's compare two simple products that are primarily made in China: a stuffed toy animal for a baby and a Frisbee.

And the winner of the product -- frisbee or stuffed toy animal -- made the cheapest in China is ...

5 Keys to Walton's Worldwide Success

iStock/Thinkstock

My latest contribution over at the American Express OPEN Forum via Small Biz Trends.  Hope you get some ideas from it.  Sam was quite the leader.

5 Lessons From Sam Walton

Global Managers: Is There Such a Thing Anymore?

Photo credit: Laurel Delaney

Death of a salesman.  The Death of the Global Manager?  Not so fast and not so sure here.  I don't believe defining managers as "global" is a dead concept.

Meanwhile, Julia Hanna makes her case with:  The Death of the Global Manager for HBS Working Knowledge.  As always, the comments are more telling than anything.  Add yours if you like.

But let's not forget one of my favorite Harvard Business articles that I pulled (dusted off) from my library shelf:  The Globalization of Markets (pictured) by Theodore Levitt. Oh if Theodore were alive today ... what would he say?

And there's Customizing Global Marketing (1986)