The core of a firm’s international operations is its products or services. Its success depends on the quality offered and the differentiation from its competitors. To the consumer, any product is a cluster of value satisfactions. The perception of value differs across cultures around the world. For example, in Latin America, a product produced by an American brand tends to hold greater value than something similar produced by a Latin American brand. This does not mean that the product produced by the Latin America brand is in any way inferior in quality or appearance, but that perception creates different values. Here, I explore the challenges facing product management and offer an example from Apple’s recent launch of the iPhone X.
By Victoria Galeano & Jerry Haar
When queried at a 1909 business meeting about the choice of colors available for his automobiles, Henry Ford replied that customers could have any color they wanted as long as it is black. Fast forward to the late 20th and early 21st centuries and consumers today are now in the driver’s seat (no pun intended). Publications such as Consumer Reports, CNET, and a myriad of other independent professional and consumer reviews of goods and services empower buyers, dictating to producers the style, features, and price ranges that consumers seek.
President Trump endorsed the RAISE Act; Reforming American Immigration for Strong Employment. This key new immigration legislation would aim to create a better screening process for who is allowed into the country. Priority would be given to those applicants who speak English, are financially self sufficient, and raise the national level of capability. A point based system (for example a Nobel Prize is worth 25 points) will help prioritize the extent of access and award of green cards to the United States. Countries such as Australia are already using such a assessment of value to society when issuing entry permits.
The bill is still quite a ways away from becoming law, which requires passage by Congress. But clearly it contributes to a useful national debate on immigration. For the time being,. RAISE aims to restrict new immigrants which depend on welfare, as well as protect US citizens from having their jobs threatened. For more details of the Bill please click here
When President Trump attended the G20 meeting in Hamburg, Germany, the aspects publicly reported were mainly uncontrolled demonstrators, burning Porsche cars and police at the end of their rope. Few benefits were attributed to the meeting. That is incorrect.
This past month, I had the great opportunity to travel to England, where I taught a seminar session on International Business in a Dynamic Environment in Canterbury. Over the course of four weeks we discussed the many different aspects of International Business with students, and the discussion proved to be both deep and mind opening.