Podcast
Questions and Answers
What percentage of companies engaged in the global marketplace export?
What percentage of companies engaged in the global marketplace export?
- Around 70%
- More than 90% (correct)
- Exactly 50%
- Less than 50%
What facilitates the increased volume of exporting?
What facilitates the increased volume of exporting?
- Rising trade barriers and decrease in regional economic agreements
- Decline in trade barriers and increase in regional economic agreements (correct)
- Limited access to technology and communication
- Stagnation in technology and communication
Which type of firms tend to be proactive about exporting?
Which type of firms tend to be proactive about exporting?
- Start-up firms
- Small firms
- Large firms (correct)
- Medium-sized firms
What is a big impediment to exporting?
What is a big impediment to exporting?
Which organization provides export assistance in the US?
Which organization provides export assistance in the US?
What do small and medium-sized enterprises prefer when it comes to exporting?
What do small and medium-sized enterprises prefer when it comes to exporting?
What do large firms tend to be regarding exporting?
What do large firms tend to be regarding exporting?
What can be intimidating for some firms regarding exporting?
What can be intimidating for some firms regarding exporting?
What do many small and medium-sized enterprises prefer when it comes to exporting?
What do many small and medium-sized enterprises prefer when it comes to exporting?
What do large revenue and profit opportunities exist for in foreign markets?
What do large revenue and profit opportunities exist for in foreign markets?
What is countertrade?
What is countertrade?
What is the range of world trade covered by some sort of countertrade agreement?
What is the range of world trade covered by some sort of countertrade agreement?
Which type of countertrade involves the exchange of unusable or poor-quality goods that the firm cannot dispose of profitably?
Which type of countertrade involves the exchange of unusable or poor-quality goods that the firm cannot dispose of profitably?
What is a pro of countertrade?
What is a pro of countertrade?
What does product readiness involve?
What does product readiness involve?
What does company readiness involve?
What does company readiness involve?
What are some aspects of company readiness to export?
What are some aspects of company readiness to export?
In the context of using a third party for trade, what does step 4 entail?
In the context of using a third party for trade, what does step 4 entail?
What is one major concern associated with countertrade?
What is one major concern associated with countertrade?
Which type of countertrade may be required by a government when exporting goods or services to a specific country?
Which type of countertrade may be required by a government when exporting goods or services to a specific country?
What is the purpose of economic processing zones, including foreign trade zones?
What is the purpose of economic processing zones, including foreign trade zones?
What is the role of the Export-Import Bank?
What is the role of the Export-Import Bank?
What is the function of letters of credit in international trade?
What is the function of letters of credit in international trade?
What is the purpose of export credit insurance provided by organizations like the Foreign Credit Insurance Association?
What is the purpose of export credit insurance provided by organizations like the Foreign Credit Insurance Association?
What do freight forwarders and export management companies assist with in exporting?
What do freight forwarders and export management companies assist with in exporting?
What is the significance of the globalEDGETM Exporting Tool, CORE?
What is the significance of the globalEDGETM Exporting Tool, CORE?
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Study Notes
Exporting Strategies and Financing Options for International Trade
- Government programs and resources such as Small Business Administration, Service Corps of Retired Executives, and Centers for International Business Education and Research are available to help exporters.
- Service providers like freight forwarders, export management companies, and export trading companies assist in various aspects of exporting, including logistics, documentation, and distribution.
- Export packaging companies offer advice on packaging design and materials to maximize shipping efficiency.
- Economic processing zones, including foreign trade zones, offer benefits for handling international trade activities.
- Strategies for successful exporting include hiring experienced consultants, focusing on specific markets, and building strong relationships with local distributors.
- The globalEDGETM Exporting Tool, CORE, helps companies assess their readiness to export a product and navigate international trade.
- Trust is a significant issue in international trade, and firms often rely on mechanisms such as letters of credit issued by reputable banks to mitigate risks.
- Drafts, including sight drafts and time drafts, are used in international commerce to settle trade transactions.
- Bill of lading serves as a receipt, contract, and document of title, and can also be used as collateral for funding from the exporter's local bank.
- The Export-Import Bank provides assistance in financing U.S. exports, supporting employment and market competitiveness.
- Export credit insurance, provided by organizations like the Foreign Credit Insurance Association, helps exporters insure against the risk of foreign importer default.
- Countertrade, a practice where trade is linked to other transactions, can be utilized to facilitate exporting.
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