Global Trade Surprisingly Strong Despite Recent Shocks

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The recent DHL Trade Growth Atlas, which maps the most important trends and prospects of global trade in goods, is published by DHL and NYU Stern School of Business.  The report covers 173 countries, providing valuable business intelligence for policymakers and industry leaders. It shines a positive light on the resilience of global trade – despite recent shocks and market pessimism.

Read more to better understand global trade and its opportunities. 

Japan Airlines (JAL): Ready for Takeoff Post Pandemic

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When the pandemic hit, the global marketing team at Japan Airlines (JAL) saw its budget disappear overnight.  They saw the whole thing disappear.  Poof.  There wasn't a whole lot to promote during the pandemic – back then JAL was operating between the US and Southeast Asia, routes without any stops in Japan itself.

Back in 2019, the airline’s plan was to streamline its global marketing efforts across regions, develop a more integrated approach to marketing, introduce new marketing-related skill sets and break down internal department silos.

Discover what they did, and how they are now ready for takeoff.

Today in Global Small Business: Carbon Neutral Shipping For Ecommerce Merchants

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

• Carbon-neutral shipping for ecommerce merchants during the holiday season.
• Ecommerce report holds warning signals for holiday retail.
• Quote of the week:  "I look forward to the holiday season every year." – Cate Blanchett
• U.S. ecommerce sales will grow just 2.5%.
• What lies ahead for the 2022 holiday season.
• What are people shopping for during the 2022 holiday season?

Eat Chocolate

©2022 Laurel J. Delaney.  All rights reserved.

"Stress out and eat chocolate." – Anonymous

Retailer's Huge Holiday Wish?

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Retailers’ biggest holiday wish is to get rid of all that excess inventory.  As some of the nation’s largest retailers report quarterly earnings and revenue, Wall Street is paying close attention to another number, too — inventory levels.

Who isn't carrying a great deal of inventory lately?  And who isn't experiencing issues with goods ordered pre-pandemic that are finally arriving now?  Yes, you read that right.  It's been one helluva ride for many companies.  

Whether it be Walmart, Target, Gap or Kohl's, they are all trying to sell through a glut of extra merchandise piling up in store backrooms and warehouses.

All retailers want for Christmas is diminished inventory levels.

Happy Thanksgiving 2022 From the Global Small Business Blog

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We thank you for your readership since 2004.  Have a day filled with gratitude and beautiful blessings.

Respect For the Individual

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One of the basic beliefs upon which Sam Walton founded Walmart is “respect for the individual.”  His strategy was built on an unshakeable foundation: the lowest prices anytime, anywhere. 

Walmart conducts retail and/or e-commerce operations in 24 countries around the world and sources product from more than 100 countries, each with its own unique cultural, economic, social, and political institutions and practices.

Learn more about Sam's basic beliefs (and history of Walmart) here.

What Drives Globalization?

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The author of "De-globalization – Myth or reality?" sees three forces that drive globalization. 

The first is the ability to shorten distances in both transport and communication. The second is the commitment of nation states to establish and adhere to rules, standards and safeguards that ensure that goods, services, capital and labor can move relatively freely across borders. The third is the incentive of firms and consumers to push the boundaries of what is possible in the ever-present quest for profits and pleasure.

Drill down on all three points to learn more, especially about what drives globalization.

Today in Global Small Business: Gratefulness Edition

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

• Gratefulness:  a necessary ingredient for relationships (and in business).
• Why gratitude matters in our world.
• Quote of the week:  "Always remember people who have helped you along the way, and don't forget to lift someone up." – words from Roy T. Bennett's book The Light in the Heart
• Five ways to accept gratitude.
• Nine ways to feel truly grateful for Thanksgiving.
• Why be grateful?

Her Angel's Face

©2022 Laurel J. Delaney.  All rights reserved.

"Her angel's face, As the great eye of heaven shined bright, And made a sunshine in the shady place." – Edmund Spenser

Taking a Trip Abroad? Get Some Foreign Cash Before You Land

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Taking a trip abroad?  It’s wise to get some foreign cash before landing at your destination. And while currency exchanges at airports are convenient, you’ll get less bang for your buck due to their poor exchange rates.  To exchange your currency more affordably, skip the airport kiosk and look for another foreign currency exchange nearby. 

Here’s how to find one.

Globalization's Next Phase is a Rewiring

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According to a new report from consulting firm McKinsey, globalization is changing course — that much is clear.  But don’t call it a retreat, it’s just “reconfiguring," or "rewiring."

Today, international businesses are confronting the “complexities of an increasingly contested global order” where war, national security, supply-chain disruptions and technological change are all driving a shift in global trade flows.  The result of this shift, according to McKinsey, is that some supply chains could “shorten and become more regional” in the coming years.

Read more about globalization's next phase of rewiring.  Read the full McKinsey report, "Global flows:  The ties that bind in an interconnected world."

Has Globalization Impacted the Legal Profession?

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How has the globalization of economic activity and the movement of a significant amount of that activity from the traditional centers in the Global North to the emerging economies in the Global South, impacted the legal profession?

Discover more here.

Global Supply Chains Have a New Bottom Line

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The endless drive to reduce costs by relocating production facilities has resulted in a globalized, vertically integrated, and highly specialized manufacturing model that benefits specific countries and regions. Willingly and consciously, we have created unbridled globalized supply chains that focus on maximizing value.

From economic value to social and environmental values, global supply chains have a new bottom line.  Find out why.

Today in Global Small Business: TikTok Shop Launched Invite Only In-App Ecommerce Feature

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

• In addition to its most recent shopping features, TikTok has just launched TikTok Shop, where users can now make purchases directly through the app.
• Volkswagen hires Google exec to head global marketing.
• Quote of the week:  "E-commerce is a powerful means to connect the unconnected to global trade." – Arancha Gonzalez
• Globalize your online sales.
• Using AI to translate speech for a primarily oral language.
• Shipping industry is facing a new problem – too many containers!

Life Is Like a Cocktail

©2022 Laurel J. Delaney.  All rights reserved.

"Life is like a cocktail, made up for the most part of sweet things, and tinged with a dash of bitters. We must drain it to the dregs to get at the cherry, just as we must live a full and rounded life to know all its pleasures." – Edgar Guest

Don't Overestimate the Staying Power of the Pandemic’s E-commerce Boom

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During the pandemic, businesses of all sizes, from mom-and-pop shops to big box retailers, invested heavily in growing their digital footprints — including through advertising on social media — to reach the rapidly expanding online customer base.

Instead, the digital shopping revolution appears to have stalled.

Meta chief executive Mark Zuckerberg made a startling admission on Wednesday during a private Zoom call for the 11,000 workers his company had just laid off: They were losing their jobs partly because he overestimated the staying power of the pandemic’s e-commerce boom.

Don't make the same mistake.  Focus on your core business and think now, more than ever, about innovation.  How to make your core sing.

We salute all veterans today, 11/11/22.  

Is Bad Customer Service Killing Your Brand?

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What steps can companies take to make sure that they have a strong customer support strategy? How does it impact a company's growth?  Do you think selling via marketplaces such as Amazon has changed customer support?  Is there is a generational divide when it comes to expectations around customer satisfaction?  

Those questions and more are addressed in the interview with CEO of eDesk Ray Nolan and conducted by Gary Drenik.  Access it here.  Also pay a visit to a recent wegginar®.

Without Internet Connectivity, Global Small Businesses Miss Out

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Digitalization opens new possibilities to connect, engage and share with others, to earn, learn and socialize, to find solutions that can reduce our climate impacts.

Without connectivity people miss out on access to education, jobs and social activities, while micro, small, and medium businesses lose their competitive edge. 

The B20 Digitalization Taskforce will focus its message to G20 leaders on universal connectivity, digital skills and the digitalization of businesses of all sizes. To accomplish these goals, networks need to be put in place at scale, fast and affordably.

Learn more on why we must drive universal connectivity and extend digital to global small businesses, without delay.

What Would a One-Party America Look Like?

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Paul Krugman has been an Opinion columnist since 2000 for The New York Times and is also a distinguished professor at the City University of New York Graduate Center. He won the 2008 Nobel Memorial Prize in Economic Sciences for his work on international trade and economic geography.

Here's what he has to say about a one-party America.

Today in Global Small Business: How CSR and ESG Can Fuel a Strong Company Culture

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

• How corporate social responsibility (CSR) and environmental, social and governance (ESG) fueled strong company culture at Kyndryl.  Lessons to learn.
• Mistakes that can happen in the global marketplace.
• Quote of the week: “People like to know that the companies they interact with and buy from are companies that do good in the world.” – Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth
• How investors feel about ESG initiatives.
• By prioritizing ESG today, SMEs can look forward to a successful future.
• Why you should care about ESG.

The Year's Last, Loveliest Smile

©2022 Laurel J. Delaney.  All rights reserved.

"Autumn ... the year's last, loveliest smile." – William Cullen Bryant

Globalization's Next Phase

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Globalization is not over. There may be retrenchment in some areas such as critical technologies and reshaping in others such as onshoring or regionalization.

But this new globalization is also a unique opportunity to rethink the current framework where we maintain the benefits garnered from an open flow of trade, people, information, and culture. It is a chance to reestablish the partnership between the private and public sectors to ensure we achieve the optimal balance between efficiency and risk mitigation, corporate profits, and income equality. And prioritize social concerns such as human rights, climate change, and workforce prerogatives.

Read the entire article about globalization's great reboot.

Companies Combating Climate Concerns Benefit With Additional Revenue Growth and Earnings

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The EY organization announced the release of the 2022 Sustainable Value Study, a survey of over 500 chief sustainability officers and equivalents representing companies worth more than US$1b around the world.

The survey finds companies taking decisive action to combat climate concerns are benefiting from unexpected financial value in areas like revenue growth and earnings, with 7 in 10 seeing financial benefits that exceed their expectations. 

Those companies taking the boldest steps are also seeing unexpectedly positive benefits in areas like staff retention, recruitment, brand perception and customer purchasing behavior.

Read more on how businesses are finding unexpected benefits from climate initiatives.

Figuring Out Financing on U.S. Exports

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Finally, a guide to help navigate all the options available for collecting money from customers overseas.  Yes!  

This particular edition spotlights commercial trade finance instruments as well as U.S. government export financing resources available through the U.S. Export-Import Bank (EXIM Bank), U.S. Small Business Administration (SBA), and U.S. Department of Agriculture (USDA). 

Best part of the whole report?  The following:

Tips for Exporters

• Be mindful of emerging trends that could reduce the complexity, cost, and processing time of trade finance transactions.
• Inquire with your current trade finance provider about available or planned digital options that could enhance efficiency and reduce costs.
• Explore trade finance options, including consulting new fintech-based trade finance providers about both traditional instruments and innovative offerings.
• Be cautious of potential fraud and cyber security risks that may accompany new technologies and online trade finance platforms.

And there’s plenty more as outlined in the 17 chapters!  Access the Trade Finance Guide (PDF) here.

Yearning to Return to Immigrant Roots with a Global Company (wegginar®)

©2022 Women Entrepreneurs Grow Global.  All rights reserved.

Are you yearning to return to your immigrant roots as you grow a global company?  Then join wegg® on Wednesday, November 2nd at 11AM CT to hear Dena Javaras's journey brought out by a friendly chat led by Moji Eagan, Senior Vice President, Bank of America.  Dena is President of LED Tranquility, Inc.

The wegginar® is powered by Associated Bank, Bluedog Design, FedEx and GlobalCare Clinical Trials, which makes it free of charge.

To learn more and to register, visit:  Yearning to Return to Immigrant Roots With a Global Company.