The Importance of Trade Mission and The Positive Effect it has on Business: ........PART2

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Match-making activity is a key aspect in making trade missions a success. The preparation performed by the organizers, the selection procedure and the preparation on the side of the participating firms are important factors in facilitating high quality match-making. Also, the involvement of government officials, the quality of the embassy and consulate, the resources committed to follow-up by organizations, and a limited group size are also important for the quality of the match-making. Investigating how different countries ensure the quality and success of these business to business programs can be helpful in creating a pragmatic tool for success. Different countries may commit varying amounts of attention and resources to this specific activity, checking whether they also see this activity as crucial to the success of trade missions, can shed light on why some trade missions are more successful than others.

 

Trade mission activities:

Trade mission activities should embody the objectives that companies have set for themselves. The business meetings and the seminars, the site visits, the receptions, should all be geared towards helping the participants achieve their goals for the trade mission. The activities can be business oriented, informative, or focused on networking, depending on the objective that the participants have. Good preparation can help companies get the most out of these activities. An adequate understanding of the particularities of the business culture in the host country will furthermore help organizations to have smoother sailing in their business endeavours.

 

Carefully organized trade mission activities need to be such that objectives are translated into desirable outcomes and organizations can capitalize on the opportunities in the host country. How successful trade mission activities are, depends partly on the preparation of the participants, the quality of the activities, and the extent to which differences in business culture can be mitigated.

 Outcomes of trade missions are essentially the value that the trade mission activities create for the participants. These outcomes can for example come in the form of first steps towards internationalization or the creation of a relevant network. Limiting the cost of failure and minimizing risks for international ventures can also be considered as valuable for organizations.

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