Healthy Livng

Enjoying the chutney culinary sensation
Sweet, sour, salty, bitter, pungent, astringent

As a little boy I do remember thinking about grandma’s lunches, “So many dishes on the table”. There would be at least 3 types of vegetables such as an astringent cabbage, a deep fried bitter squash, and a sweet beet root dish. Then there was the dahl lentil boiled with onions, sea salt and turmeric. The meat dish could be mutton, chicken or fish curry along with a prawn sambal and chutney. All these dishes were eaten with rice or chapati made from whole-wheat flour. To complete the meal there was a sour yogurt sweetened with brown palm sugar. For desert fresh fruits and a sweet milk rice pudding sprinkled with chopped pistachio or cashew nuts.

When I think back I realize that the meal contained all the necessary food groups of protein, carbohydrates and fats along with fiber, vitamins and minerals. A healthy balanced meal. If only I had the time to cook up so many dishes everyday. Besides that, we do want to enjoy the variety of ethnic foods so available in our multicultural society.

Balancing all these taste sensations I am told is important not just to enhance our enjoyment of food but it actually is a great contributor to healthy living. It ensures we get all the nutrition our body needs. Life is more fun when we are healthy so why not continue enjoying all these lovely delicious tastes and aromas.

Well, the simple solution is to go for variety in vegetables, fruits, nuts, grains, cereals and protein source. A selection of ready sprinkle containers of spices and salts is a great idea.

But to get that quick mix of sweet, sour, salty, bitter, pungent and astringent all rolled into one Grandma’s secret has always been chutneys. There are all kinds of vegetable and fruit chutneys to choose from. They go well with breads, roast meats and salads. Green mango chutneys just complement the flavor of roast chicken nicely. A spicy hot chutney can add a zesty sensation to a meal. Sweet fruit chutneys are just great as dips. Those ancient ayurvedic healers sure knew the importance of making healthy eating delicious.

Chutneys can give a bit of each of the six flavors if you are in a rush. So whether it is the traditional Thanksgiving roast, that Thai dinner or Greek lunch or that quick sandwich we can always have that combination of taste sensations on the plate with a little chutney. 

Who says healthy can’t be tasty.

Siddha Param
International Business Consultant

Worldwide Business Connection.com

Global Biz Review

Staying Competitive In The Global Market

The need to upgrade your business skills.

The Global Reality Check

The global economy post 2008 did not collapse. The complaint today is growth and recovery is too slow. This may be so, but the fact remains that the global economy is growing steadily.

The challenge now is to identify the new consumer trends, to innovate your products and services and to develop a marketing strategy to tap into this new growth path.

Canada is said to have replaced all jobs lost since 2008 but essentially with new jobs created.

The challenge today for all companies worldwide is how to retrain their managers and employees so that the company is ready to seize the emerging business opportunities.

Relevant Skills

For employees, retraining is an opportunity to remain relevant and to move up the skills ladder to better paying jobs. For companies, it repositions the business for new opportunities that global economic growth promises. 

The worlds’ largest market North America is putting strong emphasis on education and retraining with a sense of urgency the has attracted strong debate within industry and the wider society.

Canada’s good fortune is to be an economy with a highly trained pool of people supported by major commodities exports within this North American free trade area.

The 21^st century information age economy which has replaced the industrial age economy of the 20^th century pays a premium for new knowledge that creates new products demanded by an ever decreasing product life-cycle in the market place.

Rapid Technological Change

With such a rapid pace of technological change driving innovation, companies need to invest in “continuing lifelong retraining” of employees. Skills upgrade has to be an integral part of human resource management.

Keeping skills current is a major challenge that requires a yearly budget that allows for trainers to be brought in with fresh ideas in all areas of business management and operations. 

For individuals who do not have access to skills upgrade or retraining programs provided by an employer the option of continuing education and retraining outside of the workplace and on their own time needs to be considered.

Continuous Improvement

Individuals and companies need to keep up with new ideas and skills that emerge in order to stay competitive in the market place. Failure to stay current with developments in your area of expertise could result in you becoming redundant. To remain an asset to the business the mindset has to be, “continuous improvement is the law of success and continued profit”.      

The New Skills Reality

This is what all organizations and individuals need to do to succeed in this emerging global economic growth path:

1.      Identify the current skills assets of all individuals in the organization;

2.      Identify the strengths and weaknesses of current knowledge and skills;

3.      Identify the skills training that will give the organization an edge against the competition;

4.      Bring in the consultants to advise on current global market demands;

5.      Identify if individuals are motivated and inspired to excel at their current job;

6.      Identify the appropriate training needed to keep the organization competitive;

7.      Get your consultant to recommend the appropriate skills upgrade needed; and,

8.      Advise employees on benefits of retraining for their career and the organizations success.

Remember that certain skills retraining are always necessary in areas such as computer technology, productivity, marketing, language and communications.

These are the realities of living and working in a global information economy driven by the rapid spread of information and technological advancements.

It is therefore vital to stay ahead of the competition.

Siddha Param

International Business Consultant

Worldwide Business connection.com

Healthy Livng

Wholesome Vancouver
The healthy living city 

Upon landing in Vancouver I hopped onto the SkyTrain and was at the Waterfront within minutes. I was just in time for a relaxing brunch at a café famous for its artistically designed cream toppings on their cappuccinos.

The Bayshore where I stayed right by Coal Harbour boast of an excellent view of Stanley Park. Recreation in the heart of the city is just minutes away from the downtown business district. The vibrancy and energy of business and investment that taps into the Asia Pacific economies of North America and Asia can be felt in the confidence shown at negotiations for import of goods through the third busiest port in North America and the property investments that continue to drive the real estate market.

Vancouver is where the money earned is converted into healthy living with tastefully built homes within a planned community of workspaces and recreational areas. This can be seen at Kitsilano, which is home to students and trend setting families who contribute to the Vancouver tag line of being Hollywood of the North. It is also the birthplace for an environmental movement that has impacted the world in a healthy way. The wholesome eating places, yoga studios, sports areas and the beautiful beach ideal for a day out, all make this neighborhood an ideal recreational home away from home.

But Vancouver also offers us spectacular mountainside living with Grouse Mountain offering easy access with a cable car up for a view to feast on. The temperate rain forest offers a bio-diversity of animals and plants that remind us just how fortunate this city is to be protected by the majestic Rocky mountains that shielded this region from the impact of the last ice age.

The cultural diversity of Vancouver is reflected in the modern architecture of buildings that incorporate abstract art, Asian traditions and environmental sustainability features such as energy efficiency and ecological harmony. These modern building concepts can be found downtown by Canada Place and in areas such as Richmond close to the airport.

Vancouver is proof that modern living can harness the spirit of global business enterprise and use it to create a healthy and wealthy living space in harmony with nature in an urban environment. It is a project far from completion and will require even more skilled individuals and investments. All indications suggest that Vancouver is not just a gateway to North America but is also a gateway to a prosperous global economy offering health and wealth to the enterprising.

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds’ largest market.

Worldwide Business Connection.com

Healthy Livng

Empires and the Spice Trade
Health and global wealth creation

The names India and the Spice Islands of South East Asia have always conjured up the image of exotic gourmet meals that are healthy and tasty. The aromas and flavors stimulate all our senses and makes eating pure poetry on the taste buds.

Pepper, cinnamon, cloves and nutmeg were such sought after commodities that 500 hundred years ago it encouraged the spirit of European enterprise that hoped to cash in on the lucrative Asian spice trade.

Adventurers like Vasco Da Gama succeeded in opening up a sea route around Africa to India and the spice trade. Columbus attempted to reach the Indian commodity markets by sailing across the Atlantic Ocean. He instead stumbled upon what came to be known as the West Indies and the Americas where European explorers insisted on calling the natives, Indians; renaming their chilies as peppers.

Traders in London and Amsterdam chartered East India companies to raise capital to send ships out to what was then called the East Indies to profit from the spice trade. Coffee became a commodity in this trade. This lead to the creation of the modern Multi-National Corporation, the London Stock Exchange at a London coffeehouse and a global insurance trade at another coffeehouse, Lloyd’s of London.

Coffee and spice and every thing nice in healthy foods helped build the British Empire and transform the Americas with settlement into a global economic giant. The Boston tea party spurred the trade in coffee which today has become a pick me up for the thousands working in the New York financial markets.    

Spices have always been lucrative commodities in the trade along the Silk Road and Sea Route across Asia from Egypt to Babylon, Persia, India, China, and the Indo-Chinese empires of Champa, Kemboja, Majapahit, Sri Vijaya and Langkasuka. The Greeks and the Romans were early beneficiaries of these trades in Europe.

But the Europeans from the 16th century onwards began the transformation of the spice trade into the foundation of modern global trade with the introduction of South American chilies into the cuisine of India. This east meets west Indies of commodities trade not only continued the centuries of culinary amalgamation of cultures in the cooking pot but also made spices an integral part of all human cultures.

Spices add flavor to food, promote healthy living, and generate wealth through trade.

What used to be precious ingredients for the food of the wealthy aristocracy, nobility and merchants is today readily available in most major supermarkets for all peoples. Gourmet eating is now affordable to the general population and is no longer the reserve of the rich.

As spices are researched for health benefits and ancient sciences like ayurveda meet contemporary science in laboratories around the world, the spice trade may reach beyond the food industry and begin to impact positively on the health and pharmaceutical industries. At this point the old adage, health is wealth, will take on a new financial meaning as the demand in the commodity spurs the global trade to new heights.
 
The spice trade has resulted in today’s world being more prosperous for all peoples worldwide with every culture being able to lay claim to spices being an integral part of their various culinary cultures and traditions.

Enjoy the wealth of spices!

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds’ largest market.

Worldwide Business Connection.com

Field Guide to Herbs & Spices: How to Identify, Select, and Use Virtually Every Seasoning at the Market (Field Guide To...)

Global Biz Review

Negotiating International Contracts
Appreciating culture & practices

There is plenty of business to be done in the Americas, Asia, Europe and Africa. However, understanding local business culture and practices can go a long way in making a venture successful and mutually profitable.

When a Business decides to export or import goods and/or services internationally the issues and challenges that need to be taken into account in the negotiation process both before and after entering into the contract includes:

Capacity of parties to deliver on promises
It is important to do your homework on the operational capacity of your business client/partner to deliver on their legal obligations under the terms of the contract.

Disputes Resolution Mechanism
In the event of disputes you should have an established mechanism to resolve issues and implement practical solutions in a timely and cost effective manner.

Understanding Communication Etiquette
In all communications with the other party including through e-mails, teleconferencing and documentation, it is important to be sensitive to local cultural practices. This is especially true with regard to communication etiquette in relation to the position and designation of individuals nominated by the respective parties assigned to handle issues under the contract.

Communication Styles
Allowance needs to be given for the different communication styles of individuals. Using commonly accepted trade terminology and practices could go a long way in reducing miscommunication.

To profit from global trade it is important to do your homework on the prospective party and the local economic realities. A Business Knowledge Coach could assist you in this area. Too often a lack of understanding of the local business culture kills the goose that lays the golden eggs and an opportunity for long term profit is lost in a quagmire of personality clashes.

Siddha Param 
International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds’ largest market. 

Global Biz Review is a collaboration under the Canada Global Skills Consortium banner created by Worldwide Business Connection.com and Technolean Consultancy Services of Canada to promote:

“Consulting to Identify Improvements ~ Training to Sustain Improvements”

Do share this article by forwarding to businesses and individuals interested in global trade and business opportunities.

Healthy Livng

Putting Energy Into The Day!
A nutritious taste sensation
Grandma was right! Have a good breakfast and you'll have a great start to the day. One thing is certain, as I have that bowl of rolled oats sweetened with natural honey and flavored with the goodness of dried fruits, nuts, cinnamon and nutmeg I feel the energy building up in me. Oats is a great alternative to multi-grain bread for breakfast variety.

Pure almond butter on multi-grain toast is an excellent coffee break snack that keeps the energy going after two hours of work on the computer. Fresh fruits keep the anti-oxidants high and any drowsiness at bay.

I'm sharper at analysis while drafting advice and writing articles. Meetings on business strategy with clients and associates stimulate my mind. It is amazing how clearly facts and figures present themselves. Energy from nutritious foods combined with interesting mind exercises really gives a good boost to the morning.

The fact that I enjoy advising on global trade and enterprise based on my years of experience solving problems and providing solutions to international trade corporations  does add to the energy level.

A good lunch of soya, lentils and beans rich in vegetable protein free from cholesterol keeps me satisfied longer. The nutritional value make beans a favorite in my choice of salads, pasta, chowder, rice and casserole dishes.
    
Certainly the new age adage, "Go to the gym and the world will be your oyster" holds true. We can't work the mind without working the body. Stretch those muscles and the feel good will encourage you to go for more. A quick shower and I am ready for more brainwork.
 
Ending the day with quiet time in the garden taking in the aroma of flowers, herbs and spices with loved ones help set the mood for a light but delicious dinner flavored with natural herbs and spices. The ultimate is that little bit of all natural dairy and honey desert that gives that yummy feeling of contentment with life.

I believe it is important to celebrate and give thanks to the entire day be it morning, noon, evening or night. That's the way to make each day a delight!

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds' largest market.

Worldwide Business Conection.com  

Healthy Livng

Over The Moon on Honey
The nectar of life!

Here’s a story that will send some guys over the moon. The ancient Egyptians followed a lunar calendar. Apparently when a man got married the father of his bride would give the groom one months supply of honey beer. Since an Egyptian month lasted one moon cycle the practice of giving one moons supply of honey beer came to be referred to as, “Honeymoon”.

What we do know for certain is that for thousands of years from the time of Cleopatra honey has been considered a beauty product that is good for the hair and skin. Even today we find many individuals using honey as part of their health and beauty treatment.

I enjoy that delicious taste sensation that makes honey just the right ingredient for my BBQ meat marinate, sauces and bread recipes. I find that a simple way to enjoy honey is as a spread on toast. Drizzling different flavored honeys such as strawberry, a twist of lemon, cinnamon or ginger gives different experiences with each pancake eaten.  

Honey is considered a natural source of a wide range of vitamins, minerals, amino acids and natural energy. It complements a healthy living regime. Honey comes from nectar naturally present in flowers and can contain vitamins and amino acids. It can also have trace amounts of essential minerals. Buckwheat honey for instance has been used to soothe the throat.

Instead of a glucose drink, many find honeyed drinks a natural pick me up in preventing fatigue during exercise.

Honey is believed to inhibit the growth of certain bacteria, yeast and molds and helps prevent scarring. The reason is believed be due to a combination of high sugar content, high acidity and naturally occurring antioxidants.

The different floral sources of nectar contribute to the different flavors that exist. The sunny Western Canadian summers clover, alfalfa and canola flowers allow for bees to produce the type of Canadian honey famous for its taste.

Whether we use it as a beauty product, a balm for ailments or simply enjoy the delicate flavors, honey is certainly an essential ingredient for our home sweet home.

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds’ largest market.

Worldwide Business Connection.com

DELICIOUS FLAXY MEALS
Exciting the taste bud!

Flax is rapidly entering the diet plan of individuals who enjoy tasty gourmet meals and nutrition that is good for health. Healthy living is the mantra of the 21st century and food as always is part of living life to the fullest. Flax meal in breads, cookies and pancakes are creating a taste bud sensation that gives satisfaction to the quality conscious. Great taste and good for health is the verdict of many in the gourmet, natural and organic food industry.

Flax is a blue-flowered plant well suited for the cool climate of the Canadian prairie province of Manitoba. Flax seed is very well known for adding omega-3 fatty acid and fibre to the diet while enhancing the flavour of the foods.

Canadian flax is a quality product that in addition to increasing omega 3 fatty acids and adding fibre to a meal also contains alpha-linolenic acid (ALA), and lignans.

The soluble fibre in flax seeds helps lower blood cholesterol levels, while the insoluble fibre can help improve bowel movement by moving the stool through the colon more quickly.

Flax seed is a rich source of lignans and can contribute up to 800 times more lignans than most other foods in a vegetarian diet. Lignans have been seen in laboratory studies of animals to help protect against certain kinds of cancer, particularly cancers of the breast and colon, by blocking tumour formation.

Flax as part of human diet has been around from ancient times. There are records of flax cultivation in Babylon dating back to around 3,000 B.C. Hippocrates around 650 B.C. wrote about the use of flax to relieve abdominal pains. Charlemagne in the 8th century considering flax good for health passed laws requiring his subjects to consume flax.

For me the first wonderful experience of the day is waking up to the smell of freshly baked flax bread waiting in the bread maker. Then the next wonderful moment comes from the nutty flavour as I take the first bite of a warm slice of moist bread with a lovely crust. At that early in the morning I’m totally consumed by the delightful aroma as I start my day.

So here we have it, A tasty healthy ingredient for the foods we enjoy.

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America
The geographical centre of the worlds’ largest market.





Worldwide Business Connection.com

Healthy Living

A Travel and Trade Kaleidoscope

Malaysia is a blend of cultures. It has been a cross-road for global trade from ancient times when ships sailed between Arabia, India and China. The tropical monsoons made what is now peninsular Malaysia the ideal port of call to replenish supplies and to trade.

The legacy of this ancient trade of over a thousand years from the time of the Chola traders is today reflected in the interesting mix of cultures from India, China, Arabia and the Malay Archipelago which has been further infused with European traditions with the arrival of European traders from the 16th century onwards.

This exotic mix of cultures makes Malaysia a travel and trade kaleidoscope. Enjoy white sandy tropical beaches with a sea reflecting emerald and turquoise in the sun. A sip of fresh coconut juice and you will be transported to paradise! All this with the luxury of an international 5 star hotel experience!

Then, there is the heady experience of city life in Kuala Lumpur the capital of culture with tradition nestled in comfortably with the contemporary. You can experience classical music at the state of the art Petronas Philharmonic Auditorium. Alternatively you may want to let your hair down to pulsating music at the Hard Rock cafe or experience some traditional culture such as a South Indian Bharatya Natyam dance performance or take part in a Malay joget dance.

When it comes to doing business the lotus stylized Twin Towers of Kuala Lumpur City Centre or KLCC as it is popularly known as offers state of the art office amenities and excellant restaurants that make negotiating an international business contract a natural thing to do.

Affordable trans Asia Pacific flights, modern electric commuter systems, and luxurious hotels make it comfortable  doing business in Malaysia and South East Asia.   

You can stay at a luxury condominium with familiar HBO and news programs over satellite TV while enjoying your favourite chilled drink with some local BBQ satay. Yes, there is also that  aromatherapy massage at the spa waiting for you.

Outdoor activity can include golf, a day out at the Sepang Formula One circuit, jungle tracking through a rain forest or snorkeling along the coral reefs off Langkawi island that faces the Andaman Sea.

So who says you can't mix business with leisure?

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America

Worldwide Business Connection.com

Global Biz Review

The Global Financial and Commercial Economy                

Implications of divergence in investment strategy
 

After the rescue of investment banks worldwide we now find ourselves at the stage where financial managers get big bonuses while producers of goods and services are faced with insufficient funds to grow their businesses.
 

Within this global reality commercial businesses need to grow by consolidating and expanding on existing markets while simultaneously innovating to create new products.
 

Both market expansion and product innovation require capital investment. The challenge is in how the profits of investment banks and bankers can be channelled into fresh investment in the commercial sector.
 

Can commercial and mercantile banks play an effective role or will producers of commercial products and services have to tap into new business models that are less capital intensive?
 

One effective way to grow markets is to use the internet to reach out to existing and new markets.
 

As for innovation the ability to obtain instant feedback from customers and prospects through an internet presence can help create a more flexible product innovation strategy.
 

Siddha Param
International Business Consultant
Winnipeg, Manitoba, Canada, North America

Worldwide Business Connection.com

Biz Strategy

The Eco-green Marketing Strategy 

Moving with the growing global trend!

Go green for health, safety and value for money. Green when linked to a healthy eco-system can become a powerful marketing strategy that translates into greater profits for businesses.

 Healthy Lifestyle

The recent debates on healthcare cost in the United States has highlighted an important factor that reduces healthcare cost for individuals – “Prevention is cheaper then cure”. This is a factor that businesses associated with a healthy lifestyle can promote to increase sales while creating a positive image associated with the brand.

Ecology Profits

An ecologically balanced lifestyle means a healthy life. This impacts positively on the quality of living for individuals. Governments can provide the infrastructure to transport people into cities for employment and to enjoy the recreational activities available. An integrated electrical mass transport train system makes sense. This system can transport a mass of people in and out, as well as around the city with reduced pollution. But ultimately it is the companies promoting ecologically sound products and services within the city that generate profits and stimulates the economy.

Worldwide Shift

Worldwide, businesses are shifting to an ecological or green marketing strategy. Reducing the carbon footprint for a greener, cleaner planet is the right thing to do. This creates a feel good for customers of products and services and gives the brand a positive image.   

Economic Value

There are several factors to consider in planning an eco-green marketing strategy. It is not just the form but the substance of the product or service that needs to be associated with the brand. It is necessary to go beyond merely using images such as plants or the recycle logo on the product or stationary. 

An eco-green marketing strategy must integrate the economics of value for money for the customer with good profit margins for the business. Eco-green to be commercially viable is therefore about taking an ecological approach to the economics of sales and profits.

Health of Advocates 

A good eco-green marketing strategy should promote the psychological and physiological health benefits of the product or service. 

For instance, food products that contain no artificial colouring, flavouring and preservatives can highlight these facts. Publishing laboratory test results on nutritional and health benefits can lead to increased customer confidence that builds brand loyalty. Loyal customers can become brand advocates who help promote sales. 

Service providers who use e-mails instead of snail mail can emphasize how this saves trees. An ability to deliver services efficiently should be associated with reducing stress and promoting psychological health.

Wealth of Customers

The fact that the business uses energy saving machinery and focuses on health and safety of its workers should be promoted as customers appreciate that a healthy workforce with quality tools produce quality products cost effectively. Letting the customer know that the business has invested in employee training and workplace safety shows that a company cares about people.

An effective eco-marketing strategy is a holistic strategy. It makes sure ecologically sound practices have been integrated into the entire supply chain from supply of ingredients to manufacture, storage and delivery of product to the customer.

The old adage, “Health is wealth” holds true with a good eco-marketing strategy. The customer gets wealthy with a healthy, positive experience while the company gets wealthy through sales to a satisfied customer who will come back for more.

Siddha Param

International  Business Consultant

Winnipeg,  Manitoba, Canada, North America

Worldwide Business Connection.com
 

Business Strategy

Business Planning In An Uncertain Economy
Advantages of integrating continuing learning into the matrix 

If GM could get it so wrong for so long then what chance do other businesses have in uncertain times?  It is now a global economy and an increasingly borderless world for trade.  We therefore have to expect that there will be suppliers of goods and providers of services who will trade worldwide.  

Increasingly, it is quality and value for money that is shaping markets more then loyalty to traditional national brands. Understanding what the consumer truly wants is critical to strategic business planning.

The business that better understands more of the variables that go into shaping consumer demand will be the one to pull ahead and over-take the competition out there. It has always been the team with the better strategy that wins.

It is therefore critical for a winning business plan to include a process for acquiring market information for analysis as to changing economic conditions. The business plan must set out a mechanism for processing this information into useful knowledge that can be utilized to make decisions on whether the product or service offered meets consumer demand, needs to evolve or be abandoned. Built into the plan must be a strategy for learning from both success and failure that can be fed into future product or service innovation and evolution.

A successful business plan must therefore include a strategy to identify a winning product or service as well as a framework for learning from market responses and an ability to innovate to win based on lessons learnt from such responses.   

It is important to appreciate at the planning stage that since there is uncertainty in the economy, forecasting what will be the market response cannot be done accurately.  In other words the planners have to recognize that they will have to be constantly learning and reworking cost and sales figures as the plan is implemented.  This is the continuing life long learning component that must be an integral part of the business planning matrix. The plan should be, to learn and innovate very quickly at a sustainable cost in order to turn a profit at the end of the process. To do this the learning process must help the business evaluate risk and take advantage of business opportunities that emerge.

In many ways this approach to business planning requires applying the mind set of entrepreneurship as opposed to a more business management approach of doing a market study, coming up with a marketing and financial plan with a profit forecast prior to implementation which is based on fixed assumptions with no changing of horses in mid stream. Entrepreneurs know that you have to innovate as you go along implementing a plan because you never know how deep the water is until you get your feet wet and success comes from a willingness to learn on the job.

In uncertain economic conditions a business cannot afford to make too many costly mistakes as markets shrink and the cost of financing increases.  Many of the assumptions in a booming economy such as easy access to funding based on reputation and past performance disappear. Past profits may have been based on failures being paid for with cheap funding made available based on projected sales figures calculated on an assumption that market conditions will remain the same.  Prediction of impending global economic uncertainty may have been ignored.

Too often, when good times come, behavior changes and too many in business come to believe it will never end. Too much money is spent on expensive lessons and little is learnt about how the profits are actually being achieved.

The key to business success in uncertain times is to create a business strategy unit which will learn lessons from the information generated from the implementation process in a cost effective manner in a very short time frame which can then be fed into innovation that allows the implementers to adapt to the changes on the ground. This approach to planning recognizes that the plan is not based on complete knowledge as not all the information variables are available at any given time of decision making.

Hence, there must be a recognition that figures have to be constantly recalculated and decisions modified with a recognition that all financial targets are approximations.  There must also be an exit strategy built into the business plan that indicates when and how a project should be abandoned to avoid excessive losses and how the knowledge acquired in the implementation process can be utilized for a new venture.

Whether GM evolves into Green Motors or a Genetic Mutation that gives us new innovations in transportation will depend on the lessons that come out of the business restructuring plan now underway. 

Perhaps the lesson all businesses can learn from the current economic uncertainty is, how to prioritize wants and recognize business needs.

Siddha Param
International Business Consultant

WorldwideBusinessConnection.com 

Biz Strategy

Risk Management and Business Realities
How attitude shapes models in forecasting

Markets are able to digest and take into account both good as well as bad news. However, markets are not able to digests or tolerate uncertainty. The uncertainty as to the causes and effects of the current global economic slowdown coupled with the uncertainty as to the right action that needs to be taken by governments, businesses and consumers to remedy the economic weaknesses that exist continue to make forecasting of business risk clouded by data which does not seem to fit into accepted risk modals.

Perhaps there is an element of truth in George Soros’s contention that markets are shaped by alchemy, as we realize that business decisions are very often made without all the facts available for risk analysis. As regulatory frameworks for financial systems converge globally, ideology or attitude may increasingly distort outlook and therefore financial and commercial decision making.

Risk forecasting used to be relatively straightforward. Utilizing the first quarter financial and sales figures, managers could quite reliably predict how the business was developing and whether targets could be met, missed or exceeded. Confidence in such predictions reached a point where any deviation above or below the predicted figure could impact share value positively or negatively depending on the figures.

The uncertainty in the direction of the global economy has shaken confidence in such market projections. This increasingly results in an unwillingness of managers to make predictions of risk and could lead to a paralysis in the conduct of business. Standing still is not an option for businesses and decisions have to be made for continued business success.

The core issue is in understanding and managing risk. There is no guarantee of success for every business decision made. The complex models for evaluating financial and commercial risk need to be re-examined. The variables of possible and probable outcomes based on historical performance appear not to have predicted or prepared companies for the present global economic slowdown. So do we need to redesign these risk models? The models may not have failed us rather the internal attitude or corporate culture may have been to ignore information in the euphoria of a booming global economy that seemed on a forever upward trajectory. Free markets appeared to have freed businesses from national economic regulation that was seen as an out-dated socialist ideological burden. But free markets cannot mean a free for all leading to recklessness.

Companies may as a consequence have to re-examine historical data that went into their risk management modals with a fresh focus on the ethics of how information and data was evaluated for risk. Ideological distortions have no place in the market. Ideals of social responsibility and market efficiency in delivering what the consumer wants need to be fed into the risk management modal. When an assumption changes, risk evaluation must take it into account.

An approach taking into account “sovereign risk” based on the political ideology prevailing in a nation state such as socialism in Venezuela, as well as “operational risk” where internal operational disputes can affect performance as in the case of delays in the launch of the 380 jet by Airbus will help us understand how ideology and social relations impact on business risk.

An important factor to note is the fact that financial traders, economist, politicians and academics may think differently about risk than a manager in the commercial world of global trade in goods and services. There is a need to understand risk in a more holistic framework rather than in compartments such as operational risk, market risk and credit risk.

It must be accepted that risk taking is what all of business is about. Business is about succeeding more then failing. One has to dare to succeed and information about markets and finance need to be understood in terms of probabilities of success. How we predict probabilities under uncertain economic conditions is the challenge.

We therefore need to construct a new global risk architecture within which prevailing models can better operate to help us predict the best course of action for the company and the probability of success. Factors such as increasing speed of flow of information, increasing access to information and the increasing interconnectivity of regions that transform the world into one giant market place need to be digested and taken into account in making business decisions.

We may need to move from an “industrial age” to an “information age” risk management approach of evaluating “internal organizational risk” within the context of “worldwide industry risk” to fully appreciate the impact of global financial realities on markets.

Siddha Param

http://worldwidebusinessconnection.com/events.htm

Business Strategy

Canada's Asia Pacific Gateway                                                           
An opportunity for business champions.

Canada is an affluent, multi-cultural high-technology industrial society with a trillion dollar economy which resembles the US in its market-oriented economic system, pattern of production, and affluent living standards.

With abundant natural resources, a highly skilled work force, and capital resources, Canada is seen to have sound economic prospects.

Vancouver on the Pacific West Coast has a dynamic and diversified economy. In 1989 Vancouver approved a USD1.7 billion development by Hong Kong billionaire Li Ka-shing. The waterfront project for the site of the 1986 World's Fair has transformed the skyline of the city. For the vibrant economies of the Asia-Pacific Vancouver acts as a gateway to the worlds’ largest market, North America.

Winnipeg located in the geographical Centre of Canada facilitates efficient transportation and distribution to all North American time zones. It has one of the lowest overall business costs of major North American cities.
Amongst the G8 countries Canada ranks first for; best overall quality of life, a land of equal opportunities, lowest cost of living, safest place to live, and, best human development

Canada wants skilled and professional individuals from all over the world. There is a recognition that the Canadian society is "aging", hence the need for talent from outside Canada.

The opportunities for business investment in Canada remain great with its’ North America Free Trade ties to the United States of America and Mexico enhancing its’ links to the Asia Pacific Economies.

Siddha Param

http://worldwidebusinessconnection.com/index.htm

Business Strategy

The Crumbling Worldwide Wall
How global traders scale local market barriers

“All in all it’s just another brick in the wall” … as the lyrics of the Pink Floyd song goes, walls are built one brick at a time. The Berlin wall came down on 911 (9th November) symbolizing the advent of global free trade. So, all this talk brick by brick of rhetoric on buying local to save the local economy; will only result in a trade wall keeping out the wealth of the global market from local economies.

As both domestic and global markets contract, the marketing strategy should be, to carve out a niche in the wider global economy so that the net effect will be more trade and bigger profits. For many countries worldwide, the year 2008 has seen both exports and imports down. Companies that can transcend protectionist tendencies will find global trade the logical way to ensure growth.

“Buy a made in Asia $99 DVD player instead of an imported ‘high tech’ $999 one”, so the rhetoric goes. Are the European Union, North America and Japan creating a technology trade barrier by insisting on environmental and safety standards that require more sophisticated technological innovation? The simple answer is there is a market for both the latest in technological advancement which will cost more and for the lower priced old technology version of the product. If we let the global market sort it out, we will find in all countries of the world consumers who can afford the particular product depending on the economic niche the product appeals to. So, targeting the right niche globally is a strategy worth exploring.

Visit any North American departmental store and you will find products made in China. The consumer is more focused on fulfilling his or her needs and desires rather that staying focused on brand loyalty. The brand is more a convenience for identifying function and quality assurance. This allows new innovative products from smaller companies to find a niche in the consumer market.

Look at the iPod phenomena. It has been more of an individual, Steve Jobs and his innovation team rather then brand Apple that made it a success. This, suggest that a single product capturing the imagination of the consumer can come to dominate a new niche in the market. The same can be said for the Canadian Blackberry mobile phone.

A product when promoted through an effective supply chain can deliver to consumers worldwide at prices that translate into strong sales. An interesting case of global expansion is the Japanese clothing brand UNIQLO which started operations in 1984. Their strategy has been, to offer high quality casual wear at relatively low prices. The company benefited from the boom across Japan in 1998. A fall in revenue after this period was arrested with an expansion of women’s wear products. Subsequently, the company expanded across Japan and internationally into the United Kingdom, the United States, and China and now, with the current global economic slow down expansion continues into other Asian and East European markets.

The lessons we learn from such companies include the importance of investment into research and development of markets worldwide in order to ensure that products are tailored to local taste. The idea is to go global by serving local needs and demands. Small and medium sized industries can take advantage of market data and statistics available through government agency websites at national, provincial and city levels of target countries. A virtual business networking site can connect businesses worldwide and provide links to such government agencies through a web of connections.

Test marketing a product in the right city before expanding into the rest of the country makes perfect sense. Market studies as to which city to be selected for initial entry and which cities are to be considered as trend cities for subsequent expansion will allow for a natural growth of market share.

Quality assurance is another factor in building market acceptance. Being transparent as to how quality control is maintained in the form of insistence on quality ingredients and safe production processes is critical in creating confidence. If production is located in a third country then the systems put in place and information on the competency of employees need to be made as transparent as possible.

Having your own signature store or an established retail departmental store as your distributor in an established market such as Canada, Europe or the United States can establish consumer confidence better than any brochure or sales presentation of success in a developing economy. It is time to do the market research to expand your market share and increase sales by going global.

Siddha Param

http://worldwidebusinessconnection.com/

Business Strategy

Business Planning In An Uncertain Economy

Advantages of integrating continuing learning into the matrix

If GM could get it so wrong for so long then what chance do other businesses have in uncertain times? It is now a global economy and an increasingly borderless world for trade. We therefore have to expect that there will be suppliers of goods and providers of services who will trade worldwide. Increasingly, it is quality and value for money that is shaping markets more then loyalty to traditional national brands. Understanding what the consumer truly wants is critical to strategic business planning.

The business that better understands more of the variables that go into shaping consumer demand will be the one to pull ahead and over-take the competition out there. It has always been the team with the better strategy that wins.

It is therefore critical for a winning business plan to include a process for acquiring market information for analysis as to changing economic conditions. The business plan must set out a mechanism for processing this information into useful knowledge that can be utilized to make decisions on whether the product or service offered meets consumer demand, needs to evolve or be abandoned. Built into the plan must be a strategy for learning from both success and failure that can be fed into future product or service innovation and evolution.

A successful business plan must therefore include a strategy to identify a winning product or service as well as a framework for learning from market responses and an ability to innovate to win based on lessons learnt from such responses.

It is important to appreciate at the planning stage that since there is uncertainty in the economy, forecasting what will be the market response cannot be done accurately. In other words the planners have to recognize that they will have to be constantly learning and reworking cost and sales figures as the plan is implemented. This is the continuing life long learning component that must be an integral part of the business planning matrix. The plan should be, to learn and innovate very quickly at a sustainable cost in order to turn a profit at the end of the process. To do this the learning process must help the business evaluate risk and take advantage of business opportunities that emerge.

In many ways this approach to business planning requires applying the mind set of entrepreneurship as opposed to a more business management approach of doing a market study, coming up with a marketing and financial plan with a profit forecast prior to implementation which is based on fixed assumptions with no changing of horses in mid stream. Entrepreneurs know that you have to innovate as you go along implementing a plan because you never know how deep the water is until you get your feet wet and success comes from a willingness to learn on the job.

In uncertain economic conditions a business cannot afford to make too many costly mistakes as markets shrink and the cost of financing increases. Many of the assumptions in a booming economy such as easy access to funding based on reputation and past performance disappear. Past profits may have been based on failures being paid for with cheap funding made available based on projected sales figures calculated on an assumption that market conditions will remain the same. Prediction of impending global economic uncertainty may have been ignored.

Too often, when good times come, behavior changes and too many in business come to believe it will never end. Too much money is spent on expensive lessons and little is learnt about how the profits are actually being achieved.

The key to business success in uncertain times is to create a business strategy unit which will learn lessons from the information generated from the implementation process in a cost effective manner in a very short time frame which can then be fed into innovation that allows the implementers to adapt to the changes on the ground. This approach to planning recognizes that the plan is not based on complete knowledge as not all the information variables are available at any given time of decision making.

Hence, there must be a recognition that figures have to be constantly recalculated and decisions modified with a recognition that all financial targets are approximations. There must also be an exit strategy built into the business plan that indicates when and how a project should be abandoned to avoid excessive losses and how the knowledge acquired in the implementation process can be utilized for a new venture.

Whether GM evolves into Green Motors or a Genetic Mutation that gives us new innovations in transportation will depend on the lessons that come out of the business restructuring plan now underway.

Perhaps the lesson all businesses can learn from the current economic uncertainty is, how to prioritize wants and recognize business needs.

Siddha Param
http://worldwidebusinessconnection.com/events.htm