How Mexico and Panama are acting in economic globalization?
Updated: Mar 29, 2020
Changes in the global economy?
Mexico Prepares Protectionist Measures
Arguing that they should protect the local industry from dumping, the U.S. plans to impose temporary tariffs on imports of steel, textiles and footwear.
The tariffs that would be approved through the signing of presidential decrees would be valid for six months, which would be 15% for steel products, and 25% or 30% for imports of footwear and textiles.
The Panamanian government's decision
The Panamanian government's decision to raise the tariff on meat imported from Nicaragua from 3% to 30% to allow local producers to compete has so far shown no clear results.
What is Business Development for me?
To me is looking for new opportunities to build growth, looking for synergistic partnerships.
Business development is about creating opportunities! Marketing, establishing partnerships and relationship management are all tools for business development. It’s about discovering untapped markets that a company can serve.
What are the main concerns on Business Development for me?
Me and others, Business developers are asking themselves questions such as:
Where else can we discover customers that we currently serve?
What other verticals can our product/or service deliver its value to?
What changes got to be made to the product/service to unravel other target audience’s problems?
What needs do existing customers experience that the corporate also can solve with its core competencies?
What is necessary to do in Business Development for me?
Develop your strategy, be clear what you want and how you are going to get it, do your current state assessment.
Set goals for what you want to achieve, define the work and timescales, plan and plan, measure progress.l
Present a clear proposal on the benefits to the client of your product or service.
Understanding your market/sector and the specific needs or problems faced within it.
What are the functions of the sales department?
The main function of sales is to sell directly to the customer. When developing a sales strategy, there are several important elements to consider. Firstly, it is important to determine whether your company can execute the plan independently, how much it will cost to execute, how long it will take to see results, whether or not you have the necessary resources, and how the results can be measured.
Hence, business development is more about strategic thinking and sales and marketing are more about execution!