The Benefits of the No-Medical Exam Life Insurance

October 27th, 2013 by ifo No comments »

You may be thinking that buying life insurance needs full underwriting where medical tests and paper work is performed to determine the risks and eligibility of an applicant to a particular policy. Although this is true many of the times, it is not the only option. The two underwriting categories are insurance with full exams and insurance with no exams.

Insurance with a full medical exam

With many policies, applicants need to meet certain physical requirements to qualify. Therefore, the insurance company expects the applicant to visit a doctor, schedule their time to take blood samples and disclose health & personal information- all before the policy is issued. When a full exam is required, the process involved in applying for insurance is lengthy. Time is required to review and to approve the policy.

Although the insurance with a medical exam is time-consuming before receiving protection, there are benefits of this policy. First, this type of policy is less expensive when compared to other options. Applicants are expected to disclose information pertaining to their health during the underwriting process. Therefore, the insurance company is confident in issuing policies at lower rates. Furthermore, healthy applicants have the opportunity of purchasing policies with higher coverage and greater protection at competitive rates.

The Business Case for Cultural Intelligence

May 24th, 2013 by ifo No comments »

Emotional intelligence (EQ) and Managerial Intelligence (MQ) have been well established as crucial for senior leaders. EQ and MQ are insufficient if your organisation is operating across borders, distance and multiple time zones. Cultural Intelligence CQ is a ‘must have’ skill in today’s’ global environment.

CQ is a person’s capacity to function effectively in culturally diverse settings. Although Cultural Intelligence levels vary a great deal between individuals and within teams and organisations, the good news is that with appropriate training and responsiveness it can be developed.

Cultural Intelligence will increase productivity, reduce operating costs and improve talent development and retention.

In terms of your international markets are you asking?

• How can we gain a better understanding of our local markets?
• How can we ensure that critical IP, knowledge and expertise are not lost when we outsource and partner with external parties?
• Why are project timelines and budgets regularly ‘blown out’?
• Are our international relationships purely transactional?
• Why does innovation seem stifled and problematic?
• Are we a Culturally Intelligent organisation?
• Is CQ part of our organisational DNA?

If you are reading these questions with a nod, then you will intuitively understand that CQ is a business imperative! Cultural Intelligence allows leaders and their organisations a greater sense of connectivity with their local and overseas counterparts, facilitates the ability to tap into ‘what is happening on the ground’ and incorporates the knowledge and expertise to help make informed decisions, quickly and accurately.

The business case for CQ is:

• Open up new markets and provide for a deeper understanding of these markets
• Improve engagement with local staff
• Leverage local knowledge and expertise
• Improve innovation and creativity
• Reduce costs and improve timelines on projects
• Lead to greater collaboration between teams
• Develop greater understanding of what your local customers and clients need
• Establish/improve relationships and trust at a much faster rate

Cultural Intelligence assists your organisation to achieve the above by:

• Improving listening and communication skills =
Greater extraction of local knowledge + deeper relationships

• Understanding behaviours and habits in local markets =
Improved teamwork + improved relationships

• Improving leadership skills =
Increased staff productivity + talent development

• Improving trust =
Increased collaboration, + increased innovation

• Supporting Change and Foster Resilience =
Improved alignment + collaboration in teams

Developing CQ is not easy – it requires motivation, reflection, insight, knowledge and skills. I have seen enormous benefits in my clients from the application of CQ demonstrated through their skills and capabilities.

Cultural intelligence gives individuals and organisations different ways of thinking and behaviours that support more effective business processes and outcomes. In this ever competitive, globalised world, CQ is what will make the difference between a mediocre and a successful transnational organisation.

The Translation of Legal Documents

May 24th, 2013 by ifo No comments »

Translation is a very important aspect of modern legal work. This has become more common as part of what legal professionals are faced with due to the fact that international cases and documents are more widespread. The world is becoming a smaller place and communication is quicker. This allows more and more businesses to work together and more documentation to be used in all aspects of human communication. From passport documentation translation to the complex work involved in translating the documents in an international legal case, legal translation is in much higher demand than it has ever been before.

With legal documents, every word has much more significance than it would have in a different context. These documents are often pored over as part of a legal dispute, for example, and the seriousness of such a matter means that documentation surrounding the dispute is highly important. It could decide the case.

When that document is in another language than that which legal professionals use, it is vital that a highly qualified legal translator is available for the translation of legal documents. There is no room for error, and this is why legal translation is such a highly specialized field. One only has to consider the nature of some recent high profile international cases to know the importance of good quality translation of legal documents.

Essentially, it is absolutely imperative that the legal matters involved in such documents are made clear to all participants. This means that anyone who has a part to play in whatever legal matter is taking place has an opportunity to understand it, with language not being a barrier to that understanding. This means having the best legal translator involved in the translation of legal documents, so a case can reach a speedy conclusion, saving money and time for everyone.

Some of the documents that can be involved in legal translation include the following:

    • Contract translations, where important contracts, whether they are between individuals or companies, are accurately translated for all parties. There are obvious consequences if this is not done accurately
    • Confidentiality agreements. People who are doing business with each other often use these or are hiring people like freelancers. They are highly important documents, especially when the work that is to be done involves sensitive information. Therefore, companies in particular want to ensure that their legal documents in this regard are expertly prepared and expertly translated
  • Government documents and information. These can include all kinds of important and legal documents that bind policy for governments, whether national or local. It is particularly important these are translated correctly, due to the fact that they are part of public service agreements, and have a direct impact upon the lives of communities, both locally and nationally

Legal documents are vitally important, and often require that they be read very carefully by whoever is using them. Legal professionals may be contracted to dissect them or ensure they are followed, and this process cannot take place if there is a language barrier. It is for this reason that the translation of legal documents is perhaps some of the most important work that takes place in legal sectors today.

Tips on How to Find Buyers for Export Business

May 24th, 2013 by ifo No comments »

Given all the competition that you have to face as an exporter in the market, it is equally difficult to get started with it. Even if you have decided to go with the line of products that is not much exploited in the market, you may still have to face a tough competition. The main challenge for an exporter is to find buyers for their products.

In this article, we’ll discuss some tips on how to find buyers for export. Let’s find out what are the strategies that you can implement to draw buyers for your products.

1. Advertise Your Products with Proper Planning

In today’s competitive world, Advertising has become an important aspect of every business. A good advertisement can take your business to the great heights of success. Today, there are a lot of mediums for advertising that you can consider as per your requirement and budget. The visibility and popularity that these mediums provide make your business stand out in the crowd. Moreover, the money that you will invest in advertising is likely to get recovered within 6-12 months. This is because once your product creates a brand for itself; your buyers will start contact you themselves leading to increased sales revenue.

2. Business Connections Is the Key

It is advisable to create as many business connections as possible. It is the most efficient and fastest way to spread the word about your business and products that you are offering. You don’t need to spend even a single penny on this kind of marketing and yet your business name will be known by almost every person involved in your industry. The word is mouth marketing is the cheapest alternative to media advertising. It does not only raise brand awareness about your business, but also help you get contracts easily through referrals. It is also a good idea to create business relations with foreign organizations that know local buyers. This way you will be able to get business from different countries and continents as well.

3. Make Yourself Visible In the Market as Much As You Can

Attending the exhibitions and trade fairs is a great way to get in contact with potential buyers from all over the world. Events like trade fairs and exhibitions let you display your products in front of variety of potential clients. Despite of the fact that these fairs require a certain investment, you are likely to recover the same through contracts that you’ll get during these events.

4. Get in Contact with Buying Agents

Although buying agents do not come for a reasonable price, they can get really amazing business opportunities for you. Buying agents are aware of the market structure and very well know how to advertise products to get maximum output. Basically, they are intermediaries between the supplier and the buyer. They bring in business and also take care of the all the paperwork that is involved in finalizing the deals.