In this video Professor Czinkota speaks about the gradual divergence of global interests. No longer can one expect that a specific action always results in the same outcome in today’s International Business world. From creation to coordination,explains how people, firms and even countries should be grouped into four separate directions. Your comments are welcome. Let us grow together!
My colleague and former student Dr. Valbona Zeneli, recently, published her book IN MY OPINION. The book presents 39 short articles about the core issues of European security, international trade, and the Western Balkans. She also uses cartoons with each topic. All of which have been drawn by her 12 year old son.
I had the pleasure to write the Foreword of the book as follows:
I like this book. The many articles of Dr. Zeneli provide a 360 degree view of the world. This collection of articles offers new decisions and policies that impact current events in our turbulent times. Equally important, Dr. Zeneli recognizes the fact that even those interested in a topic may not have the time to read and reflect on many lengthy academic treatises. The subsequent risk for the world are decisions made by policy makers, business executives, and researchers themselves, which are based on very limited information, fragmented insights, and very limited overall comprehension.
With the work presented here, Dr. Zeneli provides an answer to this problematic. She identifies core international policy and trade issues and addresses them with depth and parsimony, thus helping to create a new bedrock of understanding. Her answer is the new use of short and pertinent commentary.
Her background provides unique strength and capabilities to Dr. Zeneli. She was born and raised in Albania, and educated at leading global institutions. Combined with her exposure to practice, she is able to bring to her analysis and writing a rare combination of academic expertise and “real world experience”. Her training in economics and security studies took her from Italy, to the United States, and to Germany at the famous George C. Marshall European Center for Security Studie.
I have known Valbona for 15 years, since she was my students. in International Marketing class at Georgetown University in Washington D.C. she excelled then and ever since I have enjoyed working with her in researching and writing on current important in the fields of global trade, international marketing, trade agreements, corruption, and international terrorism. Her extensive exposure to and participation in policy, business, and academic research allows her to glide easily between the three worlds, and to understand different perspectives. Her international experience at the Marshall Center, where she works with leaders from all continents to discuss current security issues and future trends, is clearly demonstrated in her comparative comments, which allows readers to look at different perspectives.
Valbona Zeneli has written numerous research papers in her academic life, and has been a contributor of editorial commentary in the international business and security field. Her work has been published in well-known outlets such as The Diplomat, The Globalist, The National Interest, Atlantic Community, The Japan Times, SriLanka Guardian, Affari Internazionali among others.
Dr. Zeneli’s focus on economics, governance, and the interlocking aspects of world trade matter in these turbulent times. Her ability to capture current events and connect them to the foundation and requirements of governing and responsible decision making is truly special. This is where her skill shine best. Her ability to make sense of what makes societies successful, or causes them to fail, is both subtle and effective. By examining her thinking and it’s development over time, we are treated to key insights into the ongoing rapidity of change and the consequences of bad decision making. There articles provide us with key lessons.
She is a strong supporter of European integration of the Western Balkans, and a believer oin open trade and strong transatlantic bonds. A Europeanist and internationalist at heart, these feeling are evident throughout her writings.
Of equal importance is the fact that the articles presented here illuminate the mistakes to be avoided in a period of our history where decisions made with rapid reaction but often based on poor and even deceptive information are becoming the norm. Zeneli argues with a constant key take-away in mind. We live in a globalized world and we are highlyinterconnected.. Policy decisions are seldom exclusively national but have regional and global repercussions. Zeneli’s collection is a reminder of the butterfly effect where seemingly local actions can lead to major shifts even far away. Events such as poor governance, corruption,
migration, and the like in the Balkans can have a far reaching impact in Europe and beyond. Trade policies need to be separated from emotions with a heightened sense of clinical rigor and honesty and honor. Already today, but even more in the future, will these concerns be the bane of society. They therefore require our concentrated attention.
Dr. Zeneli’s articles are accompanied by a cartoon. With the artistic support of her eleven-year old son this book offers drawings reflecting both simplicity and understanding of her commentaries, appealing to the reader with words and sights, and and adding the dimension of humor to complicated security issues.
Valbona Zeneli’s articles capture what are still current events but she tells a story that will endure. I therefore encourage you to go to your nearest book store and buy this book. It is worth your effort to do so, since a systematic reading of the material presented, your reflection of the ongoing implications and your review of the cartoons, will likely make you the smartest person in the room when it comes to discussions of security, regionalism and trade. My congratulations go to Dr, Valbona Zeneli for the fine work she has conducted.
Michael R. Czinkota
Washington D.C., January 2018
Global Medical Tourism
Medical tourism can be traced to 4000 B.C. – when Greek pilgrims would sail abroad to seek the healing power of hot springs and baths. Over the past two decades, the industry encountered dramatic shifts.
Once wealthy patients from emerging economies sought treatments not available in their home countries. Since the new millennium, however, the flow of patients goes in the other direction. Rising health care costs prompt travelers from advanced economies to seek international destinations offering lower-cost or timelier alternatives to domestic care.
For instance, a spinal fusion in the United States costs an average of $110,000 in 2016. The same procedure was $6,150 in Vietnam. Heart bypass surgery, which costs $123,000 in the U.S. in 2016, is $12,100 in Malaysia. For many patients from high-priced countries, the solution is clear – it pays to seek medical care abroad!
The size of such tourism has ballooned since the late 1990s. Its value ranges between US $45.5 billion and $72 billion in 2017, with approximately 14 to 16 million patients seeking medical care beyond their countries’ borders.
Modern medical tourism is a global phenomenon. Traditional models emphasized internationalization as an incremental procedure. But the industry surged after the Asian financial crisis of 1997, which drove hospitals in Malaysia, Singapore, and Thailand to seek patients from abroad. They had already undergone substantial modernization, catering to a domestic middle class that demanded medical services commensurate with their newly acquired wealth. With the economic downturn, however, a shrinking middle class could no longer afford these superior facilities. International clients, provided a ready solution to an excess supply of private medical facilities..
The success of hospitals in Southeast Asia inspired other countries towards medical tourism. Regional hubs emerged due to advantages of geographical proximity and specialization. Malaysia and Singapore, for instance, received an influx of patients from Indonesia, while many patients in India came from Africa and the Middle East. Brazil, Costa Rica, and Mexico all benefitted from their proximity to the United States.
A clear pattern has emerged in the lifecycle of medical industries. First, countries in the developing world begin to offer services similar to those found in advanced economies. As new segments of international healthcare populations emerge, just like sun flowers, new medical tourism destinations grow towards the new opportunity. Close proximity to wealthy consumers constitute a competitive edge. To retain their market share, leading destinations formulate new strategies and options.
In order to survive growing competition, hospitals in emerging nations tend to implement two strategies. Since technologies stem from post-industrialized countries, most can only imitate. Their novelty comes from specialization in specific medical procedures. Doing few tasks very often improves capability, capacity, and efficiency, and thus improves reputational success.
However, this tactic may be ineffective as other hospitals develop similar capabilities. Consumer preferences will hinge on how closely services comply with their own cultural preferences and norms. Hospitals attract patients based on familiarity with local approaches and usages. Such an approach gives room for the increasingly recognized component of holistic healing.
It is important to understand how the lifecycle of hospitals continues to evolve. Different stakeholders – from governments to accreditation services to healthcare providers to patients themselves – will be affected by the expansion of the industry. For example, to date, there is still much unfounded reluctance to accept health care services offered by international sources. Once the industry manages to break out of restrictive domestic silos, a fundamental reconfiguration of service and cost will be the consequence. Let’s look forward to that!
Nittaya Wongtada is a Professor at the NIDA Business School of the National Institute of Development Administration, in Bangkok, Thailand.
Michael Czinkota teaches international business and trade at Georgetown University’s McDonough School of Business and the University of Kent. His key book (with Ilkka Ronkainen) is “International Marketing” (10th ed., CENGAGE).
This comment is based on the article “Transformation in the Global Medical Tourism Industry”, Transylvania Review, Vol. 25, 2017.
In business, trade is a big word. Not in the sense of how you spell it, but rather how we use it, as there are many compartments to trading with different countries. From exports, to labor, to production and prices, trade isn’t just the exchanging of goods. Lets break it down and use the example of clothing.
In 2016, America shipped over $1.45 trillion dollars worth of goods around the world, solidifying the country as one of the top exporters. But why is exporting so important, not just for the economy, but overall, on a global scale?
Usually, when you think of exporting you think of sending physical goods to other countries; things like automobiles, oil, or even clothing. But what perhaps is the most important export of all is the exporting of ideas and culture! These are the primary ways in which new ideas filter in and out of various societies, so that new innovations and inventions can be created. It is also a way for people to experience other cultures, like when we import in Indian spices like turmeric, saffron, and cumin, we are not only spicing up our foods to make them even more delicious, but we are taking part in a new culture as well.
The exporting of cultures can also be through things like television shows. Take the classic TV show, Friends. In its hay-day, it produced millions of viewers across the world, from the UK, to India, to even China. To this day, even after being off air for almost 12 years, the show continues to be highly popular, from the outfits on the show making a comeback as fashion in different countries, to the emulating of the typical “American lifestyle” portrayed by the show, by other cultures. Television shows like this allow for people in other countries to get a glimpse into the life of a person unlike them, which is the very point of globalization.