consultation on J.C Barford Excavators Limited - 2750 Words

consultation on J.C Barford Excavators Limited (Term Paper Sample) Content: CONSULTATION ON J.C. BAMFORD EXCAVATORS LIMITED By Name Course Professorà ¢Ã¢â€š ¬Ã¢â€ž ¢s name University City Date Consultation on J.C. Bamford Excavators Limited Exporting, Importing and Countertrade The process of exchanging goods from outside countries and purchasing them is referred to as exporting. The goods involved during this procedure are referred to as exports and the governmental organizations that are involved with the systems of exporting implement the rules and regulations that would be necessary during the process (Arkolakis 2010). The JCB Company has 22 construction plants in total, spread over the globe. Of these, half of them are situated in the United Kingdom while the rest are situated overseas. The exporting and importing strategy has to take into consideration the complex structure that is brought about by this spread of plants. Exporting has several strategies and objectives that include aspects such as hiring an EMC and a skilled individual, or setting goals on a specific market area. Furthermore, new systems should be added after the original success (Siringoringo, Prihandoko Kowanda 2009). Essentially, recognizing a period of specific commitment to the m anagement process is important. Besides, there should always be an approach of local production as an optional thought, should the outside investment fail. An example of the shipping process between the French and an American agent is that an American agent prefers shipping the goods then getting paid, while a French man believes in advance payment then exporting process would prevail (Belz 2009). The exporting in JCB would be an accurate step especially in promoting the products of the company. For instance, the tires and fluids produced by the company would increase the profits through the export process. In addition, the trucks running gears or different wear parts that the company manufactures are mostly required in different countries such as Japan (Siringoringo Prihandoko 2009). The subsidiary organizations of JCB located in Singapore and the United States have helped in exporting of these materials. Since the company is originally founded in the United Kingdom, the marketing process is strengthened through this procedure. According to Levinson (2009), importing is the exchange of goods into a particular country. Moreover, the process is an affirmation of the trade exchange during the exporting period. The systems in the importing process label the imported goods as imports. JCB provides equivalent materials that would be imported in different countries and enable the marketing management team to have an easier procedure for the awareness of the products. Building the markets within different countries also maximizes the profits and increases the economy of the specific country (Levinson, 2009). Therefore, importing is an essential approach, especially for the JCB Company since the hiring of skilled individuals outside the country would not be necessary since the process is conducted from within. The preference of an American Importer to the French Importer is that the goods are paid for the shipping while the French importer prefers advance payment prior to the shipping of the goods in the country (Siringoringo, Prihandoko Kowanda 2009). In case there is a need to use a third party, the Importer will require a Bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s Promise for the payment on behalf of all Importers. After that, the bank makes a promise to the exporter that the importer will pay on behalf of the importer, thereafter, causing the shipping of the exporter to the bank. In this process, there is a trust built that the bank will pay up as promised (Belz 2009). Moreover, the Bank makes payments to the exporter and issues the goods to the importer. Finally, the importer pays the Bank. Therefore, JCB would, therefore, receive the goods or import once the process is complete. The Role of the Government in the Exports and Imports Political Politically, the government is responsible for the protection of job opportunities and the companies or industries, (Goi 2009). Furthermore, the process is associated with the national security that would engage a certain level of competence during the exporting and be importing processes to ensure safe delivery for JCB. Economic According to Goi (2009), the economic responsibility of the government is to ensure that there are protection and development of an upcoming industry. Moreover, the strategies on trade regulations should be evaluated on an economic level by the government. JCB is a global company, and procedures and norms which are applicable in the UK, need to be redefined abroad. Countertrade The counter trading process is the carrying out of trade either partially or as a whole but involving goods and not money. According to Levinson (2009), the value of countertrade has increased over the years, from the 1970à ¢Ã¢â€š ¬Ã¢â€ž ¢s. JCB is required to follow the systematic approach of the trends of this process, for an extraction of services and evaluation of different materials across the world. Types of Countertrade There are five types of countertrade, namely; barter trade, counter purchase, offset, switch trading and buybacks. Under barter trade, there is a direct exchange of goods or different services without the transaction of any amount of money. In this case, JCB might exchange the spare parts of a particular motor vehicle with another company that specializes in engineering services (Goi, 2009).The process is faster and more effective. Besides, the procedure is time effective, especially for the management strategy of JCB which requires minimal wastage of time. On the other hand, the counter purchase is characterized by a reciprocal covenant that involves buying. The agreement may involve one motor industry for JCB to be successful. The offset type of trade is closely related to counter purchase, although the case mainly involves external purchases (importation of goods) (Siringoringo, Prihandoko Kowanda 2009). The procedure may apply to the materials supplied by the JCB Company. For instance, spear parts would be an accurate material for exchange, even outside the UK with the same product. The process helps in the identification of a quality product and decision making of the same. Substantially, switch trading system uses the third party as a trade house for goods or services (Belz 2009). Therefore, JCB should get an inspiration from this and extract marketing ideas that will help in the process. Lastly, the buybacks system works like a forest plant by considering products as paid contracts. For example, the gears from the JCB would ser ve as contract payment during this countertrade method. Importance of Countertrade As emphasized by Goi (2009), the countries that have insufficiency in currency trade gain much from the countertrade. In case one of the JCB products is in such countries, providing product awareness would still be adequate and easy due to this process. However, countertrade has various challenges. First, it is difficult determining the values of a particular product. Secondly, it is challenging dispositioning goods and finally, the engagement costs are expensive. Global Production Outsourcing and Logistics The process of creating different opportunities worldwide, for the workforce development and management of products, is referred to as global production. The approach depends on several factors with an inclusion of trading processes or materials for the effectiveness of the system. As observed by Goi (2009), the logistics outlined during this process would depend on the goal orientation and settings of a specific company. Should there be a chance of outsourcing the materials in a specific way, the contribution of technological empowerment would be an attainment (Siringoringo, Prihandoko Kowanda 2009). The global production is related to the marketing procedure conducted in different companies or organizations. However, JCB must note that for an effective functioning of this process, engaging different companies is of the essence. JCB also has improved in its logistic stimulation programs by opening up more warehouses, but it must be more proactive in this department. Although, there have been attempts to open up warehouses especially in Chatterley Valley Site. Accordingly, the Blue Planet Warehouse will be run by a chosen global logistics partner that will be in charge of the day to day affairs (Goi, 2009). JCBà ¢Ã¢â€š ¬Ã¢â€ž ¢s Global Human Resources Management (HRM) Strategy The global strategy for JCB according to the HRM policies includes conducting recruitment of skilled workers for effective workforce management, engaging different technological organizations for the advanced materials in the engineering field and training more individuals who have specified in the engineering course for an understanding of the functions of the company (JCB, 2016). Furthermore, the company undertakes background checks for the employees during interviews for certainty before they are employed. Finally, its human resource department is based on universal culture accommodation which ensures that different employees from a variety of background are appreciated (JCB, 2016). However, JCB must note that because they are a global company, they must continue to assess the adaptability of an international recruit, and ensure that managers who have no experience in the country they are placed in are accustomed to the norms of the new environment. JCBà ¢Ã¢â€š ¬Ã¢â€ž ¢s Global Marketing Strategy (4Ps) Global marketing strategy for several companies highly depends on the human resource management for growth and development. However, considering some factors that determine the quality service delivery of products and services in these firms is essential (Levi...