It is quite gratifying to note that the Ministry of Mining and Energy of the State of Eritrea has hosted for a third consecutive time, The International Business conferences on the Mining Industry held at Asmara palace between 2nd and 3rd October 2012. According to the media coverage scholars, Executive officers and representatives in the discipline of the Mining Industry comprising both of foreigners and Nationals have shared their know-how and expertise to the conference participants. Such laudable organizing and managing of a series of events will put the country as a renowned hub of International Mining conference for the many years to come.
International Business Conferences provide a platform for the exchange of ideas and expertise on Managerial, financial and technical know how on all kinds of the disciplines of studies. It is an opportune moment where the host country or organization in particular and the visitor in general learn what is going on elsewhere in the same sphere of activities. International Business conferences are a venue where professionalism, creativity, meticulous budgeting and above all cultural sensitivity are seen to surface. Listening to professional presentation by experts and gaining the possibility of questioning them will give an insight to broaden the scope of one’s knowledge. Seizing the opportunity to conduct informal discussion with participants during recesses or during reception would offer more knowledge than one can get through formal meeting. In general companies broaden their net working abilities by attending such kind of seminars. Not attending in such kind of seminars would simply restrict one’s limits. In the business of management companies struggle to reduce their operational costs, minimize their expenditures and raise their profits. In reality such attempts can only be achieved when there is a concerted effort to propel excellence in the production, Administrative and financial management.
International business conferences could be a driving force for the participants to conduct an honest self appraisal if they are so determined to do so. This is to say that individuals or organizations will critically assesses in which capacity they are excelling and where they are failing short of the expected achievements. Effectually an organization will take corrective measures to maximize its economic profits by offering excellent customer services. Ultimately there will be a continuous improvement on the Managerial, financial and technological proficiency leading to a sustainable growth trend. Companies are meant to be established to last.
Organizing international conferences is not an easy task. Substantial advertisement is done through various printed materials, posters, flyers, bulletins, mass media that enjoy extensive coverage, invitation cards by post or through the internet and via many other communication channels. As the participants may be conversant in different language skills, the organization can
also be urged to hire translators, who demand luxurious fees. Nevertheless, the strong motive is to create a bridge between the seller and the buyer so that trade and industry will flourish in today’s globally interlinked economy. Conferences are usually customer oriented. Therefore the need for careful planning and organizing of the event is quite apparent.
The outlay of huge amount of money for promotion and advertisement in organizing an international business conference will finally generate an income in many folds. The most important and attractive issue about Business conferences is that they are usually held at the most peaceful locations of the world. Conferences bring together people of diverse cultures who find themselves a lifetime opportunity to get interacted with one another for their business objectives and goals.
International business conferences signal a healthy competitive atmosphere between different organizations in particular and countries in general. It is only through competitive environment that there could be continuous progress in quality production and excellent customer service. By international standard it appears that the Eritrean Ministry of Mines and Energy is registering a successful growth status in its short span of its existence. This is quite commendable and exemplary when thinking of a competitive venture regionally.
The corner stone for organizing an international business conference emanates from the qualitative administration of national conferences. When such conferences are coupled by not only serious but also continuous training programs, the sustainability of the company will in reality be assured. The company will win an admirable image among its nationals in the domestic market. By and large such creditable image will gain insight in the international market place. Once a breakthrough is achieved in the international market the ensuing groundwork of sustainability could be seriously maintained by keeping up excellent output of quality product and service.
As the world of technology keeps on growing by leaps and bounds it would rather be mandatory for a company to keep its staff well versed with the intricacies of computer technologies and international marketing. This will require careful work programming and Budgeting. The managerial proficiency of retaining a well trained staff will be a huge boost to the growth of the company. In fact those staff will be a precious asset of the organization.
The role of the speaker in a business event is of paramount importance. He/she are expected to be a motivational keynote speaker. The decisiveness in selecting a motivational speaker/s should be part and parcel of the planning design of the organizing committee. If the speaker is not persuasive it is very likely that the event will fail to achieve the expectations of the participants. Basically considerable amount of money has been expended in organizing such event. Therefore if the speaker is disapprovingly unprofessional he/she will be simply culpable for business havoc thereby adversely affecting the future growth of the business. The speaker should not only be persuasive but he has to have mastery on the subject matter. Communicating with professionalism and eloquence will create a good opportunity for business growth. It would therefore be of much significance for the organizing committee to identify the maturity and eloquence of the speaker in his/her own field. Ultimately the conference will be successful.
International conferences are usually conjoined with International trade Exhibitions where products and services are displayed. As visitors from various parts of the world would likely participate, there will be an excellent opportunity to bring the vendor and the buyer face to face to discuss the branding, quality of the product, pricing, packaging and eventually shipping it out to the satisfied buyer. Usually in international trading the seller and the buyer live in different geographical areas, and on occasions it demands crossing from one continent to another continent. Such extended distance makes it difficult for the seller to market his products. This is the very reason why the seller or the exporter has to exert many efforts to introduce his products through different marketing channels. Trade exhibitions shrink the distance and bring the buyer and the seller in close proximity. In reality trade exhibitions create an opportunity for sizeable trade agreements. The buyer and the seller can enter to contract of agreement right at the trade show. The rest is a matter of international trade processes through different channels.
Eritrea’s natural endowments in maritime affairs and its scenic tourist attraction can potentially bestow the forum of international business conference on the shipping and Tourism Industry. Almost ninety percent of the world’s exchange of goods in international trade is sea borne. Thus the Shipping industry is one of the most significant sectors in a country’s economic growth. Ports play considerable role as operational, transshipment and bunkering facilities sites.
On equal footing international Business conference is quite vital for the Tourism industry. There are notable places such as Paris, Berlin, Dubai, Australia where an international conference and exhibitions are undertaken on yearly basis. In today’s dynamic global economic network there is a competitive rush to host an international business conference in one’s own country.
Last year a series of creditable national conferences were organized by the Ministry of Tourism and the Eritrean Tourism Services Association, in all administrative regions. The conferences served various purposes like; sharing ways in solving issues of common concern, determine the industry strategy, settling government related issues and much more.
In a similar trend international business conferences can be hosted for the variety of business activities, including Fisheries industries, Trade, commerce and industry including hand crafts, Banking, Insurance, the aviation Industry and Education.
The decisive factor in organizing an international business conference should be the appropriate use of the technological innovations that overwhelm the marked in our contemporary world. Furthermore critical has to be given to the relevant cost elements, for eventually it will be the customer who will evaluate all the offers of the organization.
As it has already been indicated, substantial expenses are incurred during the preparation of an international business conference. However when reviewing the benefits as compared to the expenses the vital return to be reaped by the host country or the individual organization will render the expenses as diminutive. The economic growth, to avail of, the dynamism to learn from, the capacity build up of the concerned staff will all be a deep-seated strength for sustainable growth. The vigorous thoughts of establishing a hub of international business conferences that can involve the various sectors of the economy, should find a place in the design of strategic planning of organizations in particular and the country in general.