Britain is leaving the EU. Whatever the outcome of the Brexit negotiations, business with our traditional partners in Europe will never be quite the same. It provides companies with a strong incentive to explore new emerging markets.
From the already well established BRICS (Brazil, Russia, India, China and South Africa) to the less familiar MINTs (Mexico, Indonesia, Nigeria and Turkey), these markets present British companies with the tempting prospect of a new generation of urban consumers wanting to improve their life style and quality of life, and large national investment projects. As Europe remains stagnant, here is the chance for British companies to pin their longer-term success to some of the fastest growing and most exciting markets that the world has ever known.
At the same, these same high-growth markets have a high level of risk, and exporters need to build a risk management programme into their go-to-market strategies. Aside from political risk (for example regime change, social and political unrest or unseating of the head-of-state), there are less obvious risks such as economic volatility due to excessive dependence on extractives, raw materials or commodities. Many of these countries are ruled by authoritarian regimes, which can make sudden decisions on tariffs, quotas or foreign exchange which can dramatically affect terms of trade. Finally there is the important issue of different cultures of business based on age-old traditions, and ethical norms which are very different from our own. In particular, one of the highest risks for British companies is dealing with the corruption that is endemic at every level of society, business and government.
The course will explore these issues - and more - through case studies from some of the main emerging markets, role-playing, negotiation simulation, and a lively exchange of best practice, which will equip exporters to approach the new markets with renewed confidence.
Who should attend
Business people who are new to exporting, or new to exporting in emerging markets
Business people who have worked in emerging markets but whose companies have not yet addressed how to deal with corruption, fraud and bribery in these markets
- Balancing risks and opportunities - Where is the growth? Where is the risk?
- Corruption, fraud and theft risk in emerging and developing markets
- The face of corruption in different markets
- Different types of corruption: In-house and third party corruption
- Spotting red flags – detecting corruption as it happens
- Managing solicitation in the field - “Just say no” or “How to say no”?
- Setting up a basic compliance system - avoiding corruption before it happens
- Whistleblowing – can it work in high-corruption markets?
- What to do if “It” happens
Who is delivering the course?
Brook Horowitz (course and webinar) is a consultant in international trade, and is CEO of IBLF Global, an NGO which promotes responsible business practices in emerging and developing markets. He has worked in many of the emerging markets and was with GE in Russia and Eastern Europe throughout most of the nineties. From 2013 to 2015 he was co-chair of the B20 Anti-Corruption Task Force, a business advocacy group which advises the G20 Group of nations.
Brook will be joined, in person or by live video link, by practitioners of business from, some of the world’s most exciting and challenging markets.