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 rapidly growing populations, a growing though under-supplied middle class, 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 high-growth markets
· Business people who have worked in high-growth markets and who would be interested in sharing their experience with their peers
· Managing opportunities
o Where is the growth? Which market to choose?
o Market entry
o Getting to know the market
o Assessing local partners
o Negotiating the deal
o Getting the license to operate – dealing with government
· Managing risk
o Creating a risk map
o Major types of risk
o Social, political and economic risk
o Corruption, fraud and theft risk
o Intellectual Policy risk
o Balancing risks and opportunities