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Supporting the MI Port-Muskegon Project
Contribution by Les Brand, CEO, Supply Chain Solutions, LLC
The West Michigan port of Muskegon is flourishing as a multi-modal logistics hub that has access to both domestic and global markets. The President’s 2016 budget proposed $1.4 million for dredging Muskegon Harbor. The community of Muskegon has dedicated a lot of time and effort to developing its port and Obama’s budget proposition was an encouraging sign for continual growth.
Muskegon, which is also known as Port City, has everything a business needs to be successful; a skilled labor force, access to transportation, solid infrastructure, and vision. The goal that circulates this multi-modal logistics hub is greater expansion of the port. This would include a river barge capable of container shipping for businesses that wish to import and export products that require them. Port expansion could also help create a link to Cleveland’s port and allow for direct shipping to Europe. All of this would help expand the port and increase the amount of air and rail cargo shipping services.
Though Muskegon Lake is the largest natural deep-water port in West Michigan, dredging is still vital for its continuing growth and affluence. Ben Cross, Muskegon County Commissioner, who heads up the port advisory committee, stated in an Mlive article “if we’re going to keep bringing cargo in and out, we have to maintain depth.” He says that even though the current water levels help – shoaling occurs every winter, and the budgeted $1.4 million will be going to fixing that problem.
The Port of Muskegon consists of an advisory committee, organized by a board of commissioners. This committee is comprised of members from the private sector, port operators, and public sector officials representing the county and city. A study is being conducted to determine the infrastructure needs for creating a link between the port of Cleveland and the port of Muskegon. This will help ensure that the linkage of these two cities and ports will succeed. The study is planned to be completed before the start of coming shipping season.
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Conscientious Marketing: For Global Business
Contribution by Dr. Zahir Quraeshi, Chair of Global Business, Haworth College of Business, Western Michigan University; and Dr. Mushtaq Luqmani, Chair Department of Marketing, Haworth College of Business, Western Michigan University
There has been discussion in the U.S. about benefit corporations which have social benefits as a primary corporate goal. In global business, the new call is for the practice of Conscientious Marketing (CM).
CM by no means discounts the importance of the role of profits in sustaining and furthering the goals of the business, but rather views profits as a means to societal objectives. In all countries, but particularly in developing and emerging markets, there is an unquestionable need to improve the quality of life of the poor. Overcoming hunger, providing rudimentary sanitation, access to clean drinking water, and improving literacy are the challenging social objectives that CM can target. Many companies are implementing CM as a part of their corporate conduct. One example is pharmaceutical company called, The Institute for OneWorld Health (the first nonprofit pharmaceutical company in the U.S) - whose stated objective is "to serve as a positive agent for change by saving lives, improving health, and fulfilling the promise of medicine for those msot in need." Another is Grameen Danone Foods Ltd. (a social business in Bangladesh) whose stated objective is "to reduce poverty by bringing health through food to children." Vestergaard-Frandsen (a private company in Denmark that returns a profit) has a societal goal of preventing the transmission of waterbone diseases in developing countries. They offer an inexpensive "life straw" that can sanitize about a year's worth of unhygienic water consumed by an individual, and an insecticide treated net that effectively counters malaria spreading mosquitoes.
An increasingly number of companies are focusing on developing product portfolios that serve the poor, neglected, and disadvantaged groups and conscientious marketing enables marketers to credibly provide value to their customers while contributing towards reaching societal values and making a difference in people's lives (both investors and customers).
For more on CM, see Quraeshi, Z.A. and Luqmani, M., Schultz, R. and Zain, O. "Conscientious Marketing: Making a Difference in People's Lives" Innovative Marketing Vol.6, Issue 4, 2010
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Diversification is the Key to Unlocking Growth in Emerging Markets
Contribution by Tomas Hult, Professor and Director, International Business Center, Michigan State University, with permission from Taylor Hill (featured globalEDGE blogger)
With a lot of business areas in developed markets and industries becoming saturated, many companies are starting to look into newer product categories in emerging markets. A key driver in making this transition into emerging markets successful is implementing a diversified strategy. Companies need to be innovative in these new markets, as existing capabilities are not often in line with the wants and needs of the newer prospects.
It is never easy to enter into a new product category, as associated risks and costs can be very high. For companies to be successful in implementing new and existing products in an emerging market, being equipped to create a different perspective for each category, geography, and consumer is imperative. Each emerging market is different from the next, and as a whole they differ from markets in developed economies. Implementing products the same way across all borders is not an effective strategy.
Key aspects that make a diversified strategy effective in emerging markets include understanding buying behavior, developing a lean supply chain, having an effective distribution model, and putting a major focus on sustainable growth. Check out globalEDGE’s emerging market resources to learn more about doing business in these countries.
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