TRUST-it's relevance in International Business
Trade & Commerce are the means that forged intense co operation among all countries of the world.As the Trade/Commerce evolved into integrated businesses, MNCs became the byproduct.As the dealings acquired sophistication in terms of Business Volume and Trade Disputes, international organisations were created to address the grivances.
But Business is Business!Whether you handle it localy or internationally, Trust based business approach reduces lot more uncertainty.Both the parties save a lot in terms of Insurance premiyms and bank charges & of course litigation charges as well.
In a Trust based relationship, one has to realise 'INTERNATIONAL BUSINESS is a game of patience.It takes time to establish that kind of relationship-where both the parties are comfortable to share their relationships to discuss give & take of merchandises and business partnering in an integrated manner.Once TRUST is established, parties express as if 'they are local partners'>and all barriers fall, though one has to be carefull about Geopolitics and international Logistics and Law of Land to ensure protection and business commitment move with proper pace.
TRUST:>either it's 100% or no trust at all.Like a woman can say-she is either pregnant or not at all'>she can not say-i am 50% pregnant , but 50% not sure!Anyone who is dedicated in 'in human aspect of all businesses' >be it local or international, can tell you, Trust works better for all kind of businesses.
By the advent of IT and IT enabled communication interface, we are loaded with information every moment.So the sophistication in local or international business has been increased manifold.The question is 'how to determine-authenticity /or specificity of a particular business dialogue or a discussion-led inference to arrive at a final decision.Thereby 'the responsibility has been increased' tremendously.One has to update-network and go on hammering the deal formats at a regular pace to see breakthrougs in international business deals.Otherwise-it is difficult to determine 'which one is REAL deal and which one is spam type'!
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With warm Regards
Laxmidhar N Bhola