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International Business Expansion – Target Your Global Market Understanding Their Demographics

admin / September 29, 2011 / No comments

Small businesses can feel greatly challenged if they are based in one country and selling to foreign clients another country. An intimate understanding of your foreign clients will lead to more sales. How can you get an accurate analysis of the demographics of your foreign markets?

It is often hard to really get into the demographics of your international markets. It can be hard to stretch yourself to fully understand cultural differences and the consequences these differences may or may not have on your sales and marketing strategies.

This is also a factor which complicates a single language markets made up of many different cultures. You not only have one set of specific demographic characteristics. You can literally have dozens.

The best place to start is to determine specific demographic information for each of your target markets, and to move on from there. The process actually gets easier the more cultures you learn to adapt to. Your company will get faster at understanding how to adapt to each different culture.

An interesting example was how MTV adapted its music to each country. There are two main factors that came in to play.

Music is culturally different in each culture.

MTV targets a younger audience and youth do not have the same lives in different cultures.

MTV realized early on that they needed to adapt their music to the culture in each country. This is fairly easy to understand.

But what was interesting was that they realized that in some countries the vast majority of households only had one television set. Therefore their television shows would also have to be culturally acceptable to other generations. If the older generations were offended in any way, MTV would not be turned on.

Demographics do need to studied and defined for each culture. Gaining insight into the differences in demographics and it consequences on your product’s foreign market is a very enriching experience. The value of this knowledge also lies in the potential leverage for more foreign business opportunities.

Fully understanding your international markets will show you the opportunities for your international business growth.

Category: international business school / Tags: ,

Choosing Business Management School (mba Institutes) for Executive MBA Programs

admin / August 12, 2011 / No comments

The Executive MBA, commonly referred to as the EMBA, is designed specifically to help working business professionals, managers and executives by giving a professional touch to their already acquired work skills. The Executive MBA is geared towards professionals who are looking to update their general management skills and prepare themselves for career advancement opportunities.

What really sets the executive MBA apart from many other MBA programs is the level of experience and insights that students bring to the program. In most Executive MBA programs, the students’ professional experience and expertise becomes an integral part of the curriculum. The Executive MBA is typically completed during the evenings or on weekends over a two-year period. The Executive MBA truly offers a level of education not obtained in any other setting.

A majority of top executives, worldwide, feel that earning a graduate degree in business is important for those who want to obtain top management positions. MBA today is not just another qualification; it is a necessity as the world moves towards a more corporate and service-oriented economy. An MBA not only ensures your employment, but also ensures your success and marketability in an ever-evolving job market.

The Bangalore Management Academy (BMA), located in the beautiful garden city of India called Bangalore, offers an executive MBA program in affiliation with Australia’s Edith Cowan University (ECU).

We offer our students:

Excellent infrastructure

Centrally located, Modern and Spacious campus

Well equipped labs and library

Experienced faculty

Unparalleled track record for internships and placements

Bangalore Management Academy (BMA) is a leading Business Management Institution in India delivering quality higher education to ambitious students striving to be a success in the corporate world. Since the first collaboration with Bharathidasan Institute of Management, BMA has tied up with new and exciting partnerships with top most universities in India, Australia, Malaysia, Singapore and UK.

BMA’s Executive MBA program focuses on providing students with training in basic business principles needed by any business manager including, corporate finance, economics, strategic planning, marketing, basic accounting, etc. The subjects that are taught at BMA are current, relevant and case study based. The specializations offered include Finance, Marketing, Information Systems, Hospitality & Tourism, International Business and HRM.

The Executive MBA at BMA is also an ideal networking opportunity. BMA provides opportunities to the executives to interact with respected business leaders and community leaders of India apart from interacting with classmates from varied industry backgrounds. The connections that are made while earning an MBA are definitely as valuable as the degree itself.

What are the benefits of BMA-ECU Executive MBA program?

The MBA is a full time certification; the classes are in the Weekend.

Faculty are high-end, predominantly from the Industry holding key decision making positions capable of teaching mature, experienced adults.

The class comprises of students who are self-motivated, focused managers.

100% faculty contact program with the teaching mode being a combination of case studies, projects, assignments, interactions and lectures. The exposure is truly based on experiences rather than on textbook reading.

Ideal class size of 30-40 students encouraging meaningful participation from every candidate.

A short but sufficient program delivered over a period ranging 24 months. Classes conveniently spread over Sundays over 8 hours.

Well laid out campus with excellent facilities like central Air-conditioning, theatre style seating, hi-end audio-visual equipment, WiFi connectivity and corporate ambience.

The library is digitally equipped with more than 1200 current journals, 10,000 e-books, talking books, online subscriptions to world-class digital libraries and magazines, CD servers, access to DELNET, IIM libraries, The British Council Library and other excellent facilities apart from the traditional library resources like books, encyclopedias, magazines, newspapers etc.

The program is priced in such a manner that your return on investment is almost immediate.

The university is well recognized and accepted by the Industry and various other bodies.

About Edith Cowan University (ECU)

Edith Cowan University (ECU) is a Government University from Australia and is today Western Australia’s second largest university with more than 23,000 students from about 80 countries. ECU started as a teaching college in 1902 and is named after Edith Dircksey Cowan – Australia’s first female Parliamentarian and a fighter for social justice.

ECU awards are recognized nationally and internationally, because of rigorous accreditation procedures used by the University, and consultation with professional and vocational groups. ECU is a member of the National Unified System of Australian Universities, the Association of Commonwealth Universities and the Australian Vice-Chancellors Committee. Universities throughout the world recognize ECU programs for exchange purposes. ECU MBA has the unique distinction of being rated 5 Star by the Good Universities Guide (GUG) for the past three consecutive years. How do the students’ organisation benefit?

The benefit a student derives also benefits the organization / sponsors, but in addition:

An organization gets to develop managerial talent from within its own pool.

The syllabus and interactive sessions pave way to several work related projects and case studies that provide immediate on-the-job benefits.

Employees gain insight into the conceptual, technical, and interpersonal skills required, thus strengthening the business leaders of the 21st century.

Minimum disruption in work output as the program is held over the weekend.

The faculty has varied industrial exposure and will be ideal mentors.

Employees have a wonderful peer group of experienced managers and executives from across the industry.

The cost of the program is recovered by employees gaining – a better insight into management, strengthening core business skills, exposure to different perspectives on current business issues, increased intellect and lower attrition.

Specializations available for the Executive MBA program are:

Finance

Human Resource Management

Hospitality and Tourism Management

Management of Information Technology

International Business

Marketing

General Specialization

Category: international business school / Tags: ,

How to Forecast english language school Business Sales

admin / July 28, 2011 / No comments

Predicting potential sales for your english language school business is a very key process; before you start in business you ought to feel confident in potential sales otherwise there is no point in setting up in the first place. It is unlikely you will be right on the money but if you do not make a realistic attempt your english language school business will likely bomb; forecasting is an crucial ingredient to your business stratgey.

The sum of money your english language school business will achieve each year depends on how many sales of its products or services – but before you set up the process of actually making these sales you should create a sales forecast. The sales forecast for your english language school business will exist on its own virtues – it will of course be a part of your overall english language school business plan.

Why bother with a sales forecast?

A sales forecast is necessary in order to

1. Predict your cash flow – your forecast might predict slow times of business where you may need a cash injection to pay for products or merely to pay the staff for example.

2. Manage Cash flow – central to the success of your business, it is essential that you recognize how sales forecasting contributes to the computation of the cash flow forecast.

3. Plan future resource requirements – for example, you may want a new machine which produces more products.

4. Plan marketing activities – and the consequent economic strategies arising from these.

Without a doubt constructing a sales forecast for your english language school business is important to your business success – you should constantly re-evaluate your sales forecasts – by looking at actual sales to your forecasted sales firstly you can measure if you have done good or not.

So what do you need to consider?

Your sales forecast should show sales by month for at least the next 12 months, and then by year for the following two years. Three years, in total, is generally enough for most business plans.

Things to think about

1. Is there an recognized market for your product or service?

2. What is the magnitude of the market?

3. Is the market growing or declining, and if so,by what % each year?

4. What are the main considerations for this market?

5. What might affect it in future?

6. How do cyclic factors affect purchases of your product or service?

7. What trends or fashions are important to the sector?

Do you know who your customers are?

1. How many customers will in reality pay money for your product or service?

2. Why will they cease buying from someone else to trade from you?

3. What is your pricing strategy and how will it impinge on sales?

4. Do you have the resources to make available the amount of products and services?

5. How many other businesses like yours are out there?

6. Your business will not be exclusive; what happens when new-fangled competitors come into the market once you have done the footing to raise market awareness?

You must be transparent about how your products or/and services match the marketplace. How can you differentiate your business from your competitors’ businesses? Can you adjust your product prices up or down to agree with new customers – can you simply add or amend the services you present to new and existing customers to swell your turnover and profits?

Preparing your english language school business forecast

All english language school businesses need to base their forecasts on certain assumptions regarding potential changes that may take place in the future. These can be quantified and could include:

1. Sector expansion/decline by a certain percentage e.g. 5%.

2. Workers increase to increase production or sales – maybe 25%.

3. A move to a better location that ought to produce a 40% increase in sales.

Preparing your forecast

You should prepare a sales forecast for each item you sell,and forecast:

1. By volume

2. By value

3. By a combination of both volume and value.

So what are the pitfalls when forecasting sales?

1. Make sure your forecast is based on confirmable,realistic and unbiased info.

2. Don’t be tempted to ignore your study if it showed bad results.

3. Don’t make projections only on past performance. Put your business under a microscope – try and imagine what might affect your sales in the future – good or bad.

4. Understand what volume of goods you can produce. Can you produce the amount of sales being forecast with the personnel, equipment and monetary resources available to you?

5. Does the pricing policy you have used in calculating your sales forecast relate to what is really achievable?, or conversely, have the prices been set too low or too high so that either way your forecast is potentially unrealistic?

6. If you have just started up in business, have you thought-out that it possibly will take longer for your business to become well-known, and have you set accordingly realistic sales targets?

7. Have you permitted for the possibility that high sales based on an early promotional surge may drop off, leading to a need for more intensive marketing and higher ongoing costs once opening fascination has spiked?

8. When you elucidate your sales forecasts to prospective backers – are they believable?

Category: international business school / Tags: ,
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