Week 7

Exporting
(1)   What is “exporting”?
Definition: to send goods to another country for sale

(2)   What is the verb of “exporting”?

The verb of exporting is "export"

(3)   What are the products mentioned in the video that foreign companies usually export to Thailand?
Answer :  Car, Cosmetic, and beauty care.

(4) Make a sentence of “exporting”.
Thailand are exporting rice to USA.



Importing
(1)   What is “importing”?
Definition : to buy or bring in products from another country

(2)   What is the verb of “importing”?
The verb of importing is "import"

(3)   Do you agree that the products mentioned in the video are what Thailand usually imports from foreign companies? What else is Thailand also known for importing?
 Yes, I agree with video and I think the product that Thailand import are cellphone, oil, and entertainment form Korea, Japan, and another country.

(4)   Make a sentence of “importing”.
Thailand is importing oil.

Freight forwarder

1. The pronunciation of “freight”: [freyt]

2. “freight” mean goods, but not passengers, that are carried from one place to another, by ship, aircraft, train or truck, or the system of transporting these goods

3. “freight forwarder” is a person or company that organizes shipments for individuals or other companies and may also act as a carrier.

4. Why is freight forwarder important for a company exporting products to other countries? 

    freight forwarders are important figures in the exporting process. Knowledgeable about all aspects of international trade including, import and export rules, and shipping options freight forwarders serve as agents for exporting businesses, overseeing the transportation of their cargo to overseas destinations.

Learning curve

1. The pronunciation of “curve” : /kɜːv/

2. “learning curve” Learning curve shows the rate of improvement in performing a task as a function of time, or the rate of change in average cost as a function of cumulative output.

For example, an 80 percent learning curve means the per unit average cumulative cost (in hours or dollars) falls to 80 percent of the previous per unit average cumulative cost as the cumulative output doubles. Also called learning curves or  improvement curve

3. “learning curve” mean in non-business context is a graph that depicts rate of learning, especially a graph of progress in the mastery of a skill against the time required for such mastery.

Licensing
Licensing /?la?.s?nt?s/

(2)   What does “licensing” mean?
 “licensing” mean to give someone official permission to do or have something.

(3)   Make a sentence  I have a driving license .

(4)   Find one synonym of “licensing”.permit

Week 6

SWOT analysis

What do the four letters in SWOT stand for?

• Strengths: characteristics of the business or team that give it an advantage over others in the industry.
• Weaknesses: are characteristics that place the firm at a disadvantage relative to others.
• Opportunities: external chances to make greater sales or profits in the environment.
• Threats: external elements in the environment that could cause trouble for the business.

What is SWOT analysis?
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture.

Find the objectives (at least two objectives) of one of the competitors in your field.


"Ruamsinthai book center"The objectives are want to be center of Stationery. Textbook full range ,sports equipment, and musical instruments.


Find two pictures (templates) which can help you know more about how to do SWOT analysis

http://en.wikipedia.org/wiki/SWOT_analysis

Expertise
noun /ˌek.spɜːˈtiːz/

Difinition : Basis of credibility of a person who is perceived to be knowledgeable in an area or topic due to his or her study, training, or experience in the subject matter.

Sentence of  “expertise”
He have expertise in legal matters.

http://dictionary.cambridge.org/dictionary/british/expertise?q=expertise



Strategic planning

Difinition : Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.

What is the relation between SWOT analysis and strategic planning?
SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. 

What is the process of strategic planning (or How can you do strategic planning?)? 

The strategic planning process

All strategic planning deals with at least one of three key questions:

1. "What do we do?"
2. "For whom do we do it?"
3. "How do we excel?"

Strategic positioning

What is strategic positioning?

Strategic positioning is the positioning of an organization (unit) in the future, while taking into account the changing environment, plus the systematic realization of that positioning. The strategic positioning of an organization includes the devising of the desired future position of the organization on the basis of present and foreseeable developments, and the making of plans to realize that positioning.

2. Watch the video: Export Marketing Bootcamp -Positioning - Building a Strong Position 

http://www.youtube.com/watch?v=Yhzm5Fo6soU   

(1)   Why does a small business owner need to take into account strategic positioning? (Hint: Think about why not care strategic positioning?)         

Answer Because every business have to invest and we have to take into account for control of the cost and profit of our business.  

(2)   As a small business owner, what should you consider when finding a position in the market?

Answer i will consider with; 

Geography 

Product/Service offering 

Customer/Target audience 

Added- value/ Differentiation (a unique)  

(3)   After you find a position in the market, how can you know whether it is a strong position or not?

Answer  I can know by using:

                    1. Own-able; can we do it?      

                    2. Believable; will market believe we can do it?      

                    3. Compelling; to the market, does they care?    

                    4. Different; is it unique? 

Scarcity
/ˈskeə.sɪ.ti//ˈsker.sə.t ̬i

Difinition:  Scarce>> Food and clean water were becoming scarce in flood area.


Synonyms and Antonyms of Scarcity

Synonyms:	dearth, drought, exiguity, famine, inadequacy, infrequency, insufficiency, lack, paucity, rareness, rarity, scantiness, shortage, sparsity, stringency, uncommonness, want
Antonyms:	abundance, commonness, excess, surplus

Synonyms and Antonyms of Scarce

Synonyms:	at a premium, deficient, failing, few, few and far between, in short supply, limited, occasional, rare, scant, scanty, seldom, seldom met with, semioccasional, short, shortened, shy, sparse, sporadic, truncated, uncommon, unusual, wanting
Antonyms:	abundant, frequent, plentiful, sufficient

Ever-present situation in all markets whereby either less goods are available than the demand for them, or only too little money is available to their potential buyers for making the purchase. This universal phenomenon leads to the definition of economics as the "science of allocation of scarce resources."

adjective of “scarcity” is "scarce"

 Make a sentence of “scarce” and “scarcity”.

/-spɝː Scarcity >> The scarcity of skilled workers.

Week 5

Niche
noun  ( POSITION ) niːʃ//nɪtʃ

Definition : A focused, targetable part of a market.

Toyota company

Example of a corporation's niche market

Toyota is a huge multinational company. At first glance, it appears that Toyota focuses on the auto business as a whole both from a marketing and production standpoint. This view is correct. Notwithstanding this fact, Toyota is excellent when it comes to niche marketing.
Toyota will search for niches for which it can supply a product in need. Toyota was one of the first companies to realize there was a group of car buyers who would be very interested in environmentally friendly cars. To answer this need, it came up with the legendary Prius. The Prius is the first mass production hybrid car. Where other car manufacturers saw Toyota taking a huge risk, Toyota saw it as an opportunity to identify a new niche and establish its brand in that niche. In marketing, it is often the first brand on the scene that takes the day.
http://www.marketingtitan.com/what_is_niche_marketing



Trademark

Definition : A distinctive name, symbol, motto, or design that legally identifies a company or its products and services, and sometimes prevents others from using identical or similar marks.

Trade mark of Toyota company

What do you think the trademark tells you about the characteristics of the corporation?

Answer: Trademark can tell me what is the characteristics of their company by trademark will tell me what is the symbol of this product.For example TOYOTA, the trademark of Toyota have the name and logo that I can know that It is Toyota.  There are three ovals, it make me think about the good relationship between Toyota and customer.

Sentence of trademark
I start doing business about bag and I have to design my trademark for my product.



Royalty fee

Royalty ˈrɔɪ.əl.ti//-t ̬i
Definition : the people who belong to the family of a king and queen

Royalty fee
Definition : A payment made for the use of property, especially a patent, copyrighted work, franchise, or natural resource. The amount is usually a percentage of revenues obtained through its use.

loyalty  ˈlɔɪ.əl.ti//-t ̬i/
mean : faithfulness, dependability

Sentence of royalty fee
I have to pay royalty fee when I buy the franchise of 7-11 shop.

http://www.investorwords.com/4330/royalty.html
http://consulting.about.com/od/glossaryfaq/g/CF_RoyaltyFee07.htm
http://thesaurus.com/browse/loyalty



Synergy /ˈsɪn.ə.dʒi//-ɚ-/

Definition : Arrangements which are mutually beneficial to the parties involved.

Synonyms:

alliance, coaction, combined effort, harmony, symbiosis, synergism, team effort, teaming, teamwork, union, unity, working together

Sentence of synergy

A company and B copany are synergy.

http://thesaurus.com/browse/Synergy

http://www.investorwords.com/4853/synergy.html

Franchising

Definition : Arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market a good or service according to certain specifications. The franchisee usually pays a one-time franchise fee plus a percentage of sales revenue as royalty, and gains (1) immediate name recognition, (2) tried and tested products, (3) standard building design and décor, (4) detailed techniques in running and promoting the business, (5) training of employees, and (6) ongoing help in promoting and upgrading of the products. The franchiser gains rapid expansion of business and earnings at minimum capital outlay.

Verb of franchising is Franchise

Franchise mean grant a franchise to(sb).

franchiser

Definition :An entity such as a company or producer that allows its products or services to be franchised. This entity essentially grants permission to other firms to provide the products or services to its customer under the same name and pre-determined pricing. The franchiser still maintains a number of controlling factors related to the franchise.

franchisee

Definition : One who purchases a franchise. The franchisee then runs that location of the purchased business. He or she is responsible for certain decisions, but many other decisions (such as the look, name, and products) are already determined by the franchisor and must be kept the same by the franchisee. The franchisee will pay the franchisor under the terms of the agreement, usually either a flat fee or a percentage of the revenues or profits, from the sales transacted at that location.

Sentence of franchising

Mc Donald have many franchising. 

http://www.businessdictionary.com/definition/franchisee.html
http://thesaurus.com/browse/franchise

Week 4

Consumer mean

An individual who buys products or services for personal use and not for manufacture or resale. A consumer is someone who can make the decision whether or not to purchase an item at the store, and someone who can be influenced by marketing and advertisements. Any time someone goes to a store and purchases a toy, shirt, beverage, or anything else, they are making that decision as a consumer.

http://www.investorwords.com/1055/consumer.html

Consumerism mean

1. Organized-efforts by individuals, groups, and governments to help protect consumers from policies and practices that infringe consumer rights to fair business practices.

2. Doctrine that ever-increasing consumption of goods and services forms the basis of a sound economy.

3. Continual expansion of one's wants and needs for goods and services.

http://www.businessdictionary.com/definition/consumerism.html


Conservation mean

Exploitation, improvement, and protection of human and natural resources in a wise manner, ensuring derivation of their highest economic and social benefits on a continuing or long-term basis. Conservation is achieved through alternative technologies, recycling, and reduction in waste and spoilage, and (unlike preservation) implies consumption of the conserved resources.

http://www.businessdictionary.com/definition/conservation.html

The verb of conservation is conserve

conserve mean save, protect

Synonyms:

avert, battle, beat off, bulwark, care for, cherish, conserve, contend, cover, entrench, espouse, fend off, fight, fight for, fortify, foster, garrison, guard, guard against, hedge, hold, hold at bay, house, insure, keep safe, look after, maintain, mine, nourish, oppose, panoply, preserve, prevent, provide sanctuary, repel danger, resist, retain, safeguard, save, screen, secure, shelter, shield, stave off, sustain, take in, uphold, war, ward off, watch, watch over, withstand

Antonyms:

abandon, attack, desert, leave, quit, relinquish, resign, surrender

http://thesaurus.com/browse/conserve

Recycling mean

 Waste minimization strategy in which reusable materials are recovered from a waste stream, and put to the original or different use.

http://www.businessdictionary.com/definition/recycling.html

“re" mean again , retune

- rewrite mean to write something such as a book or speech again, in order to improve it or change it because new information is available

- renew mean to increase the life of or replace something old

- review mean to consider something in order to make changes to it, give an opinion on it or study it

Ethic/Ethics mean

a system of accepted beliefs which control behaviour, especially such a system based on morals

http://dictionary.cambridge.org/dictionary/british/ethic?q=ethic

Business ethics mean

a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

http://en.wikipedia.org/wiki/Business_ethics

Anecdote about business ethics
This case is about the Gulf of Mexico oil spill and the continuing safety problems at BP, one of the largest oil and gas producers in the world.

The case highlights the ethical issues involved in the disaster and examines BP's response to it. Though the company accepted responsibility for the explosion and was making efforts to manage the oil spill, it remained largely unsuccessful in plugging the leak. As efforts to contain the spill continued, critics alleged that BP had put profits before safety and developed an "unhealthy corporate culture" where cost-cutting was given more priority than the safety of the workers.

http://www.icmrindia.org/casestudies/catalogue/Business%20Ethics/BECG116.htm

Personal ethic mean Personal ethic is individual ethical to people have values or moral principles.
My personal ethic are Honesty, Loyalty, Integrity.