| Business Bytes By Barb | |
| A Newsletter for Business & Marketing Educators | September 1999 |
Business/Marketing Conference
11/12-13
Emphasis 2000: New Courses, Content, & Curriculum, Part II,
is the theme of the Business and Marketing Education conference
to be held November 12-13 at the Adam's Mark Hotel in Indianapolis.
A copy of the program and a registration form are enclosed. We
will be presenting the final draft of our curriculum documents
at the State Update meeting on Saturday morning at 10:45 a.m.
If you are developing curriculum for the 2000-2001 textbook adoption,
you will want to be sure to attend. The documents will not be
available until the conference.
There are over 30 different sessions on technology, accounting, personal finance, certification, law, ethics, entrepreneurship, marketing, middle school keyboarding, etc. If you wish to come early, there are six excellent Early Bird Sessions for you to choose from; cost is $10. Make check payable to IBEA.
As this is textbook adoption year, the publishing companies will have materials available for review. There are also a number of sessions that will focus on materials you may use for the new curriculum.
Be sure to contact the Adam's Mark Hotel requesting your hotel reservations by October 11. CRU's are also available for this conference. For additional copies of the program, you may access our web site at www.doe.state.in.us/octe/bme. Information is listed under professional development. We look forward to seeing you November 12-13 at this exciting conference.
When The World Is Your Workplace
The international economy and global communications have made
the world a smaller place. These days many of us are working
with people in other countries. This often requires international
travel, discussions through translators and correspondence with
people whose first language is not English.
No matter where in the world you're headed or with whom you're doing business, here are some ideas to keep you on your best international business behavior.
For successful international travel
Do your homework before you go. Just as we expect visitors to
adapt to our customs, it's your job to adapt now. Look for culture-specific
guide books. Talk to others who have already visited the country.
Gain a sense of its general history, geography, major cities,
main industries, popular sports, special cultural activities
and famous athletes or performers.
Don't expect to do business the "American way." Be aware that many cultures are "relationship-oriented" while the U.S. approach is more "task-oriented." Don't be impatient. It takes time to build trust.
Be respectful of differences you encounter. Don't comment on or react negatively to customs you disagree with or find offensive. Beware that it is considered rude to brag about or overly compare your own culture or customs.
Don't take it for granted that the person speaking English will always understand you. Speak slower, not louder.
Be aware of the nuances of nonverbal communication. For example, Americans are encouraged to look someone directly in the eye while speaking to that person, but in many cultures it's more respectful to look away. On the other hand, most Americans like to have plenty of space between them and another person when conversing. Try to prepare for these differences so they won't interfere with your ability to listen and understand.
Making small talk
Figure out how much small talk is appropriate in the country
you are visiting. In the United States, we usually get down to
business after a few minutes, but in Mexico and Japan, for example,
small talk can go on for much longer—even days. Just remember
that it is part of establishing a business relationship.
Talk on safe subjects. Avoid religion, politics and the highly personal, such as your love life. While it's OK to show your interest in the politics or religion of another culture, don't be critical or enter into a debate.
Dining in other countries
Eat what is offered when it is offered. Don't "help yourself."
One American once helped himself to the centerpiece. Unless you
are allergic, be willing to try a new food, even if it looks
unappealing or downright scary.
Don't comment on unfamiliar customs you may observe in restaurants such as the separation of men and women in some countries—or sitting next to a diner and her dog.
Be aware that table manners differ in other countries. For example, making a slurping noise while eating soup is accepted behavior in Japan. Be prepared to eat with chopsticks or with your fingers.
If you dine at someone's house, bring a small gift— but check the local customs before you show up with flowers. Certain flowers have specific meanings in other countries. Be careful also about praising a household object—in some countries you host will feel obligated to give it to you.
Don't assume that you should show up with your spouse at a business meal unless you're invited to do so.
Stay sober. Be aware of local customs about
drinking—if you do drink alcohol, be smart about it.
Unless your host initiates business talk during a meal, it's
usually best not to bring it up.
Tips for international writing
Keep your sentences short, your style clear and your vocabulary
simple. Be aware that jokes and sarcasm do not translate very
well across cultures. Avoid using jargon, buzz words, sports
metaphors or regional expressions.
Avoid confusion over dates. Be aware that 9/5/98 can mean September 5, 1998 or April 9, 1998, depending on where your letter is headed. Always spell out the month.
Use a person's full name in your salutation to avoid confusion over gender and the order of a person's name. For example, in response to a fax I received from Singapore, I wrote "Dear Tan Joon Seet."
Barbara Pachter is a speaker, trainer and coach on business communication and co-author of books on business etiquette. For a subscription to her free newsletter Competitive Edge, call 609 751-6141 or E-mail pachter@ix.netcom.com.
Yr. 2000: The Chicago Fed Perspective
Y2K—It's not the Armageddon that some people are predicting. But neither is it a nonevent that can be ignored. And teachers can play an important role in helping the nation weather the event. Because of their unique position in the community, important information can be shared with students and, in turn, their parents and guardians. The Federal Reserve Bank of Chicago is turning to you with some important information.
In reality, no one can say exactly what will happen on January 1, 2000. Does that mean we should close our bank accounts and keep our money under the mattress? Absolutely not. I think the key to getting through Y2K unscathed is to maintain perspective and to act smart.
Unlike a natural disaster, whose impact
can take us by surprise, the business community has been aware
of the Y2K problem for years. The financial industry has been
actively addressing the concern since the mid-'90s, as has the
Federal Reserve, which is committed to doing all it can to safeguard
the operations of the U.S. financial system.
Financial industry regulators have been working closely with
banking institutions to create and implement Y2K compliance plans.
While it is ultimately the banks' responsibility to ensure their
own preparedness and to communicate it to their customers, the
results of our examinations thus far indicate that the vast majority
of institutions are making significant progress in preparing
their systems for the new millenium.
I don't expect any major obstacles in meeting final milestones. Our examiners are encouraging banks to assess their risk exposure from borrowers and major depositors, and to test their contingency plans to ensure they will work. While no one can say that there won't be some glitches, I'm confident that U.S. financial institutions will be prepared for the century rollover.
Internally, all of the Chicago Fed's critical systems are Y2K compliant. We've also been testing with institutions that use our financial services, such as check processing and wire transfer, since last July. Our cash distribution areas are taking measures to ensure institutions have ready access to coins and currency—you may have heard about the Federal Reserve System's plans to make an additional $50 billion available to banks, just in case it is needed.
Communicating the industry's Y2K activities is another aspect of the Fed's preparatory efforts, and one which I consider especially important. The Chicago Fed has made a considerable commitment to ongoing communication about Y2K issues, because we know that public understanding of the banking industry's year 2000 preparations will help maintain confidence in the financial system. Indeed, this message is just one part of that effort to reach key audiences.
We understand that the public needs ongoing, current and accurate information. In the Chicago Fed's region, we have undertaken a variety of Y2K educational forums and public briefings, and have more planned throughout 1999. In addition, if it does become necessary to take enforcement action against an institution for not fulfilling its Y2K responsibilities, those actions will be made public.
The Federal Reserve takes its obligation to the public seriously. We have helped keep our nation's financial system on course through floods, hurricanes, earthquakes and other natural disasters. We have devoted numerous resources to ensuring a smooth transition to 2000, and we stand committed to doing everything we can to safeguard our nation's financial system.
But the public needs to take its role seriously as well. Exaggerating Y2K's potential impact can lead to misunderstandings and panic, which will in itself create new problems. Instead, stay informed and use common sense. Contact your financial institution for updates on its Y2K compliance activities; save bank statements; watch out for scams—avoid unnecessarily sharing information about financial accounts or investments; and keep in mind that the FDIC insures bank deposits up to $100,000.
Most importantly, remember that as a nation, we have met important challenges in the past. This is just one more challenge that we will meet. Any problems encountered at the new year are likely to be temporary and minor. I have confidence in the soundness of the U.S. financial industry's Y2K efforts and in the public's ability to keep the year 2000 rollover in perspective.
Your ability to help us transmit information is a vital link in the effort to communicate to the public about this important issue. To augment this, our education newsletter, On Reserve, will have a special issue this September regarding the Y2K issue and banking. We will also be publishing a special "Y2K and Banking" poster for classroom and staff room use. You can receive copies of these items by contacting the Federal Reserve Bank of Chicago. The address is: Economic Education, Federal Reserve Bank of Chicago, P.O. Box 834, Chicago, IL 60690-0834. You can telephone at 312-322-5111, by fax at 312-322-5515, or by e-mail at education.chi@chi.frb.org.
Michael H. Moskow, President and CEO
Federal Reserve Bank of Chicago
For information in this newsletter, contact Barbara K. Beadle, Business and Marketing Specialist Room 229 State House Indianapolis IN 46204-2798 317 232-9179-office 317 232-9121-fax bbeadle@doe.state.in.us
