The Essential Guide to Going Global

Chapter 8. Transparency and the Tenets of Global Trade

In the preceding chapters, I’ve discussed a number of ways that your company can maximize its chances of succeeding in the global marketplace today and into the future. I termed these principles for success the Tenets of Global Trade because they apply to virtually every international enterprise. While the tenets can be seen as separate and distinct, there is one underlying element that serves to bind them into a cohesive protocol for international business. That element is transparency. The modern business environment demands that companies involved in international trade not only ensure that their own operations are able to withstand scrutiny by investors and regulators, but that they also push this culture of openness all the way back down their supply chains.

As a global trade entrepreneur, you have an obligation to become intimately familiar with all the players on your team, and it is equally important that they know you. When operating a business that crosses multiple borders, there will inevitably be miscommunications, mistakes, and misunderstandings. If you lose visibility into your global supply chain and fail to communicate effectively with strategic partners, consultants, customers, and clients, it will be next to impossible to promote commonality of purpose and to ensure that all the players are effectively working together. If you allow the various pieces of the global trade puzzle to spin out of your orbit, it ...