I am assuming everyone on this trip will, in one way or another, be bringing some gifts/souveniors back from the trip. Below is a quick writeup from some of the research I found when searching how to barter with street vendors and suggestions on how to get your item at the best price.
Bartering with street vendors/at the market
Bartering with street vendors and at the Chinese marketplaces is a trade society; besides at restaurants, malls, and supermarkets, you haggle for whatever the stuff is worth. The point isn't to rip off foreign tourists or purchasers, as even Chinese students and other locals don't know the prices and therefore pay too much. In the end, you pay whatever the items are worth to you. If the seller determines that you, even as a foreigner, understand the prices, negotiation goes quickly and smoothly. Many products are quite inexpensive to westerners even without lengthy bartering, and one is tempted to pay more for small purchases (for example vegetables) in order to save time. But when you're stocking up on clothing or souvenirs, haggling become an interesting experience. Save money with the following guidelines:
Rule of thumb for determining price (not guaranteed):
· Start by dividing the opening price by three, this will be considered a decent result in bargaining; opening price divided by four is an outstanding outcome. Always let the seller name a price, then begin with an offer 1/5 of that. Increase your offer slowly.
· When you find something you really like and definitely want to have, don't telegraph how eager you are.
· Be polite and patient, and realize that haggling is fun for the seller as well, because he'll be more likely to make concessions. Traders occasionally let their wares go very cheap, as long as they can save face doing it.
· If an item seems too expensive, don't purchase it out of false politeness. Walk away from the stand and see if the trader will then come down on price; if not, well, you can almost certainly find the same product a few meters down the street. Otherwise, if you don't care at all what the trader thinks of you go back and buy from him.
· Counterfeit currency is very common in China!
Price negotiations at a marketplace go by very different rules than during business transactions, so always be wary.
Showing posts with label Jake's blogs. Show all posts
Showing posts with label Jake's blogs. Show all posts
Thursday, February 4, 2010
Jake Hushka Post 5- U.S.-China tension was the underaddressed theme of Davos
U.S.-China tension was the underaddressed theme of Davos
http://brainstormtech.blogs.fortune.cnn.com/2010/02/02/u-s-china-tension-was-the-underaddressed-theme-of-davos/
I decided to address the article above because of the on going discussion of China becoming a world superpower. A superpower’s responsibilities include: maintaining world stability, intervening in any nation that threatens worldwide balance, and maintaining world order while insuring international stability. I believe that China does not hold these values, which can specifically be seen in the article by the heightened tension between the United States and China. The World Economic Forum gives nation’s the opportunities to address important issues at hand and in my opinion China is not taking their responsibilities seriously.
China’s economic sector has seen significant development over the last decade, specifically in their GDP growth. The United States concern is that it has seen a 10% increase in unemployment over the last year while the Chinese GDP has grown at the same rate. The U.S. feels that due to this growth it is the responsibility of the nation to revalue their currency and Chinese government has refused such suggestions. This situation is also coupled with the vow that China would increase its domestic consumption, which can be taken as China wanting to be less reliant on exports, particularly to the United States. I believe that China took a partnership with the United States knowing the opportunities that would be available to them and now they are going back to the attack on the cultural imperialism of the West. These actions will not go to any avail by the United States and may in fact result in trade barriers. I believe that both sides are taking measures that will be bad in the long term because they are politically popular in the short term and may result in irreparable consequences.
A side note on the article, the forum gave Google the opportunity to allow there concerns to be heard once again. As George stated in a prior post, the Chinese are strongly encouraging the Western journalists to address Google’s threat to abandon China over its disdain for censorship and its computers in China being hacked with help from the Chinese government. Google in fact has been working with the Chinese government to comply with the rules of their censorship, but still strongly believes that the Chinese government had orchestrated the crime of stealing intellectual property.
The main issues the article addresses are the currency dispute and Google’s corporate spying incident. I believe it just shows that as China becomes progressively more powerful, the country increasingly intends to confront the United States. I consider this to be a derelict of their responsibilities of a superpower and they need to start addressing some of the ongoing, worldwide issues at hand.
http://brainstormtech.blogs.fortune.cnn.com/2010/02/02/u-s-china-tension-was-the-underaddressed-theme-of-davos/
I decided to address the article above because of the on going discussion of China becoming a world superpower. A superpower’s responsibilities include: maintaining world stability, intervening in any nation that threatens worldwide balance, and maintaining world order while insuring international stability. I believe that China does not hold these values, which can specifically be seen in the article by the heightened tension between the United States and China. The World Economic Forum gives nation’s the opportunities to address important issues at hand and in my opinion China is not taking their responsibilities seriously.
China’s economic sector has seen significant development over the last decade, specifically in their GDP growth. The United States concern is that it has seen a 10% increase in unemployment over the last year while the Chinese GDP has grown at the same rate. The U.S. feels that due to this growth it is the responsibility of the nation to revalue their currency and Chinese government has refused such suggestions. This situation is also coupled with the vow that China would increase its domestic consumption, which can be taken as China wanting to be less reliant on exports, particularly to the United States. I believe that China took a partnership with the United States knowing the opportunities that would be available to them and now they are going back to the attack on the cultural imperialism of the West. These actions will not go to any avail by the United States and may in fact result in trade barriers. I believe that both sides are taking measures that will be bad in the long term because they are politically popular in the short term and may result in irreparable consequences.
A side note on the article, the forum gave Google the opportunity to allow there concerns to be heard once again. As George stated in a prior post, the Chinese are strongly encouraging the Western journalists to address Google’s threat to abandon China over its disdain for censorship and its computers in China being hacked with help from the Chinese government. Google in fact has been working with the Chinese government to comply with the rules of their censorship, but still strongly believes that the Chinese government had orchestrated the crime of stealing intellectual property.
The main issues the article addresses are the currency dispute and Google’s corporate spying incident. I believe it just shows that as China becomes progressively more powerful, the country increasingly intends to confront the United States. I consider this to be a derelict of their responsibilities of a superpower and they need to start addressing some of the ongoing, worldwide issues at hand.
Monday, January 25, 2010
Jake Hushka Post 4- Google Discussion
Discussion Questions
1. The article states that no country has ever before made a better run at climbing every step of economic development at once. Specifically, the number of internet users in China is growing at such an exponential rate that from a business perspective any company should jump at the chance to develop with the country. This growth rate also brings along the opportunity to acquire great amounts of advertising revenues, while providing services needed and wanted by the country.
Pros
-Public Access- in less than a decade Internet users soared to over 103 million
-The opportunity of advertising revenues- 58% of the Chinese public said they use search engines to find information. Google could use this alone to increase revenues.
Cons
-Quality of the product available in China will be lower than the rest of the world do to there censorship.
2. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. Specifically, business ethics can be defined as a system of moral principles applied in the commercial world.
Pros
-The opportunity to provide a nation with a source of information
Cons
-Forced Censorship
------Firewall devices at the border
------Government-mandated self-censorship by Internet service and content providers
------Required self-discipline exercised by individual users
-Use of the Internet to repress dissent
------Chinese Government uses the Internet to collect information about dissidents and to prosecute them
-Government Favored Competition
3. Obviously Google decided to enter the Chinese market, which any intelligently ran company would have decided to do at the time. I do not think that Google would have been able to mitigate the ethical adverse impacts. I think as a company, Google decided that they could increase revenues while at the same time allowing some information to flow across the borders. Google defines itself as “a global technology leader focused on improving the ways people connect with information.” This statement alone could be used as justification to enter the market. Ethically the company believes that they are not breaking any of their standards they have set for themselves, and represented the responsibility they held to shareholders intelligently. Could there be backlash amongst the public? I believe they knew the answer would be yes, but they were still willing to take this risk. Google’s mission statement discussed their responsibility as company was “to organize the world’s information and make it universally accessible and useful.” From an ethics standpoint this statement does not state which and what information would be accessible to who, but that their mission to locate information and provide it to users. Unfortunately Google would not be able to avoid the ethical repercussions that come with the Chinese government, which was using the internet to repress dissidents. Once the company entered the Chinese market, they would be legally obligated to comply with the requirements of Chinese law enforcement. I believe the Google knew it had to make a decision one way or the other. The company decided to enter the market, which I believe gave them strength. They acted on an opportunity and stood by the decision for the time being.
4. If I were in charge of Google I would have made the same decision to enter the Chinese market as well. The business possibilities and revenue opportunities that followed the Chinese market were great. The one difference I would have made is limited the exposure of the company. I would have installed the search engine solely and left the other portions of Google’s business model alone. As George stated in his blog, Google recognized they were wrong to have ever expanded into China and they have taken steps “pull out”. The mentioned cyber attacks were the catalyst. These attacks weren’t your garden variety they were attacks against the Internet, finance, technology, and media. Had the company hedged their investment to start off slow within the foreign economy, they may have been able to slow the attacks or possibly prevent them all together. At the time of the case I agree with Google’s decision and would have stood bye them as well.
Tuesday, January 19, 2010
Jake Hushka Post 3 - "Brits Get Rich: Parts 4-7"
Final Impressions of the Brits:
I believe that Peter made the right move to hire a consultant, Cecil Pih, and ultimately enduring on a joint venture with the “hired gun.” Cecil was able to put together an appropriate marketing strategy, which included attacking each region around Shanghai. He made it clear to Peter that in China you need the appropriate capital and influence to successfully wine, dine, and some times even “wench” the appropriate clients. Cecil was able to make contact with an ex-military general of the region, which was the critical success factor in his strategy. Through this business contact, Peter’s product would be passed along to each appropriate region and ultimately, would get the support from the country he needed. My one concern is that Peter began spending his capital before it had been earned and in the end might come back to hurt him.
I believed from the first episode that Vance would be the most successful entrepreneur of the group and at the end I still believe this. Along his journey through China, his shrewdness and arrogance were the key characteristics that provided him with the ability to be successful. I also believe that the humility he learned along the way will enable him to stay successful in the future. Vance has learned that he can trust some of the Asian culture and work habits. The small villages that he supports, through his factories, will ensure he receives the products he needs to be successful through his original business plan.
In the first few episodes, I felt that Tony was applying his original business model in a culture that it would not fit in. In the end viewers could see that he did adapt his plan through the resources he acquired in the foreign nation. Tony’s success was do to the fact that he hired an intelligent business partner, and subsequently also inherited a family member of hers that managed the overall construction project. I would advice in Tony’s future endeavors he should only micromanage the sales and promotion portion of the business, and leave the factory construction to a more cultured individual.
Conclusion:
Upon completing the final 4 episodes of the reality show, I came to the conclusion that there are vast amounts of opportunities for entrepreneurs throughout China. I also believe that one can be successful using their own strategy as long as they adapt it to respect the Chinese culture. This could be seen through Peter hiring Cecil Pih to market his product, Vance micromanaging all aspects of his business, and Tony hiring a business partner to monitor construction of his factory. My interpretation of the overall series is that China is like the Wild West. China has an economic culture like no other place in the world, but entrepreneurs can be successful with the appropriate capital, intelligence, and resourcefulness.
I believe that Peter made the right move to hire a consultant, Cecil Pih, and ultimately enduring on a joint venture with the “hired gun.” Cecil was able to put together an appropriate marketing strategy, which included attacking each region around Shanghai. He made it clear to Peter that in China you need the appropriate capital and influence to successfully wine, dine, and some times even “wench” the appropriate clients. Cecil was able to make contact with an ex-military general of the region, which was the critical success factor in his strategy. Through this business contact, Peter’s product would be passed along to each appropriate region and ultimately, would get the support from the country he needed. My one concern is that Peter began spending his capital before it had been earned and in the end might come back to hurt him.
I believed from the first episode that Vance would be the most successful entrepreneur of the group and at the end I still believe this. Along his journey through China, his shrewdness and arrogance were the key characteristics that provided him with the ability to be successful. I also believe that the humility he learned along the way will enable him to stay successful in the future. Vance has learned that he can trust some of the Asian culture and work habits. The small villages that he supports, through his factories, will ensure he receives the products he needs to be successful through his original business plan.
In the first few episodes, I felt that Tony was applying his original business model in a culture that it would not fit in. In the end viewers could see that he did adapt his plan through the resources he acquired in the foreign nation. Tony’s success was do to the fact that he hired an intelligent business partner, and subsequently also inherited a family member of hers that managed the overall construction project. I would advice in Tony’s future endeavors he should only micromanage the sales and promotion portion of the business, and leave the factory construction to a more cultured individual.
Conclusion:
Upon completing the final 4 episodes of the reality show, I came to the conclusion that there are vast amounts of opportunities for entrepreneurs throughout China. I also believe that one can be successful using their own strategy as long as they adapt it to respect the Chinese culture. This could be seen through Peter hiring Cecil Pih to market his product, Vance micromanaging all aspects of his business, and Tony hiring a business partner to monitor construction of his factory. My interpretation of the overall series is that China is like the Wild West. China has an economic culture like no other place in the world, but entrepreneurs can be successful with the appropriate capital, intelligence, and resourcefulness.
Monday, January 18, 2010
Jake Hushka Post 2- "Brits Get Rich Part 1-3"
First Impressions:
I am amazed at the exponential migration that is currently occurring in China and believe the video quotes it as the biggest migration in history. It is amazing that millions of citizens are moving from rural areas to the city for the simple opportunity of so called "better employment." This issue alone stresses the problems China has with it's economic enviroment. The country has a billion people, whom all have to compete for low wages, long hours, and unfavorable working conditions. Some would say that this is a direct result of the political policies throughout China, but I believe it drives competition throughout the world. It seems as though the toughest, most cultured, and knowledgeable business men/women will be the most successful, not just in China, but worldwide. My one concern is the trademark and copyright laws throughout the country. Any businessman or company can embark on a great idea or product, but still has the same chance as any to have it stolen by a competitor. This leads to the determination that you must always be on the cutting edge of the business world and be willing to get dirty as Vance has in the videos.
3 Brits trying to make it in China’s Economy:
I believe that Vance is the saviest and most cut throat of the 3 Brits in the videos. He understands the concept that he sells cheap Chinese kitchen’s in Britain, which is why he wants the best quality product for the lowest price. He is also somewhat head strong towards the culture of the people he is dealing with and always believes that they are trying to trick him in some way. This attitude seems to work for his business plan though. He has the capital and intelligence to back his arrogance, and I believe that he will be the most successful of the 3 Brit’s.
Tony comes off as resentful to the country and culture of China. The Chinese have drove his company in Britain into the ground, and I feel that he believes that by moving his operations to China his business plan will succeed none the less. He does not give himself a chance to succeed in this country, because he is not educated in the economical, social, and cultural issues that surround him. His business partner has backed out of the position before the warehouse has finished construction. The individual who took her position was a family reference and did not instill any confidence in myself. Tony also seems to be more worried about individuals stealing his designs at the trade shows, when in fact his concentration should be on completion of the factory and lining up sales. I believe that he will need to either higher the appropriate parties to help facilitate construction or he will ultimately fail.
Peter is the least competent businessman of all three Brits. He believes that his British charm, clothing, and attitude will sell his product. In fact, his product is ingenious and seems as though would be a break through for the country. When you pair this with the ignorance he has for the culture and economics of the country, it seems as though he is doomed for failure. I believe Peter should try to sell his product to a big company as soon as possible. I do not believe he has the aptitude to compete with the competitor’s within China’s market, and could ultimately have his product stolen from him.
I am amazed at the exponential migration that is currently occurring in China and believe the video quotes it as the biggest migration in history. It is amazing that millions of citizens are moving from rural areas to the city for the simple opportunity of so called "better employment." This issue alone stresses the problems China has with it's economic enviroment. The country has a billion people, whom all have to compete for low wages, long hours, and unfavorable working conditions. Some would say that this is a direct result of the political policies throughout China, but I believe it drives competition throughout the world. It seems as though the toughest, most cultured, and knowledgeable business men/women will be the most successful, not just in China, but worldwide. My one concern is the trademark and copyright laws throughout the country. Any businessman or company can embark on a great idea or product, but still has the same chance as any to have it stolen by a competitor. This leads to the determination that you must always be on the cutting edge of the business world and be willing to get dirty as Vance has in the videos.
3 Brits trying to make it in China’s Economy:
I believe that Vance is the saviest and most cut throat of the 3 Brits in the videos. He understands the concept that he sells cheap Chinese kitchen’s in Britain, which is why he wants the best quality product for the lowest price. He is also somewhat head strong towards the culture of the people he is dealing with and always believes that they are trying to trick him in some way. This attitude seems to work for his business plan though. He has the capital and intelligence to back his arrogance, and I believe that he will be the most successful of the 3 Brit’s.
Tony comes off as resentful to the country and culture of China. The Chinese have drove his company in Britain into the ground, and I feel that he believes that by moving his operations to China his business plan will succeed none the less. He does not give himself a chance to succeed in this country, because he is not educated in the economical, social, and cultural issues that surround him. His business partner has backed out of the position before the warehouse has finished construction. The individual who took her position was a family reference and did not instill any confidence in myself. Tony also seems to be more worried about individuals stealing his designs at the trade shows, when in fact his concentration should be on completion of the factory and lining up sales. I believe that he will need to either higher the appropriate parties to help facilitate construction or he will ultimately fail.
Peter is the least competent businessman of all three Brits. He believes that his British charm, clothing, and attitude will sell his product. In fact, his product is ingenious and seems as though would be a break through for the country. When you pair this with the ignorance he has for the culture and economics of the country, it seems as though he is doomed for failure. I believe Peter should try to sell his product to a big company as soon as possible. I do not believe he has the aptitude to compete with the competitor’s within China’s market, and could ultimately have his product stolen from him.
Jake Hushka Post 1- "Getting to Know Me"
Hello Class I am Jake Hushka, as you have saw in the video above. I figured I would follow up the video with a little more general information. I received my undergraduate in Finance at both Monmouth College and Western Illionois University. During my years at both schools I played for the football program. I graduated in 2006 from Western Illinois. Upon graduation I back packed through Europe, specifically Germany, Switzerland, and Italy, for most of the summer. This happened to be one of the greatest experiences of my life and was one of the major reasons I decided to participate in this program. I began working at MB Financial in January of 2007 in the Indirect Lending department. I specifically deal with Harley Loans nationwide and communicate with Financing managers on a daily basis. I entered the St. Xavier MBA program in January of 2008. I am in the last semester of my master's in Management and I am really contemplating enrolling in the fall to get add'l degree in Accounting or Financial Analysis.
Upon the start of the new year, my company recently enrolled me in the Leadership Development Program. So on top of the classes I will taking at SXU, I will also be taking classes one to twice a week at work until the summer. At the present time this seems very overwhelming to me, but I am sure with some organization I will be able to get through both programs.
I just recently purchased a condo in Tinley Park and have been living there for about 6 months. One thing that I came to a quick realization of is the responsibilities that follow being a homeowner, specifically nonstop cleaning and endless laundry. If I would have known this ahead of time, I may have milked living at home for few months longer, maybe even years, HA!
I consider myself a pretty easy going, role with the punches kind of guy. I enjoy almost all music, movies, and reading several different categories of books. My favorite sport is football, which is hard to stand these days in Chicago. But the Blackhawks of provided some stress relief and enjoyable viewing experiences.
Some characteristics I would assume that would be important to the trip are: I am an early to rise and mostly early to bed, 11pm, type of individual. On this trip I assume I will be doing alot less sleeping than in the past, because the vast amount of experiences that will be available to us. I consider myself a pretty quiet sleeper, so hopefully I do not fall under Jim's category of the loud one of the group. I am up for pretty much everything on the trip, sight seeing at nite, shopping in the morning, meeting with a local family, and of course the great amount of culture and knowledge the business representative will pass down to us. I look forward very much to meeting each and everyone of you. And most of all I look forward to trip. I can not wait to see what experiences await us abroad. Have a great day everyone and look forward to our next class session.
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