Import Export

International trade is the exchange of goods and services between different countries. Country can export and import commodities. A company which sells goods or services to other countries is known as an exporter. A company which buys products from other countries is called an importer.

Payment for imported product is usually by documentary credit, also called a letter of credit. This is a written promise by a bank to pay a certain amount to the seller, within a fixed period, when the bank receives instructions from the buyer. Documentary credits have a standard form. Another method of payment is a bill of exchange or draft. This is a payment demand, written or drawn up by an exporter, instructing an importer to pay a specific sum of money at a future date.

Trade in goods is sometimes called visible trade. Services such as banking, insurance and tourism are sometimes called invisible imports and exports.

Government can control international trade. The most common measures are tariffs and quotas.

A tariff is a tax on imported goods, and a quota is the maximum quantity of a product allowed into a country during a certain period of time.

International organization such as the WTO (World Trade Organization) and EFTA (European Free trade Association) regulate tariffs and reduce trade restrictions between member countries.

Companies can choose from various methods to establish their products in a foreign market:

• To start by working with local experts such as sole agents or multi-distributors

• To open local branch or sales office

• To use patents and licenses

• To set up a local subsidiary or a joint venture with a local partner

Company Performance

Companies need to know how they are performing in order to analyse problems, find solutions and make plans for the future. Management accounts provide data about operational efficiency and financial accounts give information about financial performance. These tell the company not only how much it is selling, or how much revenue it is receiving, but also what its costs are - how much it has to pay for the different things that it needs in order to operate. With this information a company can then calculate how much money it has made (profits) or how much it has lost (losses) during a specific period. Listed companies, whose shares are sold on the stock exchange, have to present their accounts to the public in an annual report.

Presentations

Public speaking and presenting are an integral part of the business world today. Whether leading staff meetings or speaking before civic and trade groups, business people give countless speeches and presentations.

There are some tips for a stand-up presentation

1/Find out about the audience: how many people there will be, who they are, why they will be

there, and how much they know about the subject.

2/Find out about the venue and the facilities: the room, the seating plan, the equipment, etc.

3/Plan the content and structure, but don't write the complete text of the presentation.

4/Try to memorize the first five sentences of your talk.

5/Prepare visual aids: pictures, diagrams, etc.

6/Rehearse your presentation (practise it so that it becomes very familiar) with friends or colleagues.