Question

1. To what extent do you feel that visiting countries outside the United States can make a person a more effective businessperson?

2. To what extent to do you feel that traveling across the United States can make a person a more effective businessperson?

Answer 1

1. It is imperative for a good businessman to have a fair idea of the business practices, regulations on businesses and an appreciation of different cultures and customs in different parts of the world in order to grow the business across different countries and venture into newer markets. Thus we see that visiting different countries outside of the United States can help a great deal in becoming a good businessman. The effectiveness of a business person is enhanced by visiting different countries through the following manner:

• Understanding different customer requirements and the market needs.
• Getting to understand the competitive landscape in those regions.
• A better appreciation of the social customs and business culture prevalent which may be useful if the business within USA decides to expand overseas.
• Also it would help to identify potential business partners in foreign locations.
• It would also help in understanding government and regulatory framework.

Thus visiting different countries helps in becoming a more well-rounded and effective businessperson.

2. It is true that visiting various states within USA will also help in becoming a more effective business person. This is primarily because of:

• Better appreciation of customer requirements in different markets
• Understanding competitive landscape
• Identification of suppliers and business partners
• Understanding the supply chain constraints in various regions and devising ways to overcome them.

Thus moving around the country helps to get a perspective on the various facets of the value chain or supply chain and helps to formulate a more effective strategy and design the value chain in more structured and effective fashion.