How to overcome cultural, language and geographical barriers when seeking overseas suppliers
One of the major emphasis that will help one to surpass these barriers is through tailoring the correspondence in a manner that they fit the mother country of the organization. This will allow easy integration and understanding between the two parties as they have different culture origin. Secondly, the organization should ensure to be highly accurate when presenting the proposal and thus calling for the need for a translator to eliminate language barrier. The use of digital media may as well go a long way in eliminating the geographical barrier that may arise between the two parties ("Overcoming language and cultural barriers in overseas trade - Startups.co.uk: Starting a business advice and business ideas", 2016).
An assessment to determine the risk and opportunity of the overseas supplier would involve understanding whether the supplier is outsourcing goods or work from a subcontractor. This would assist in mitigating the risk that may arise due to delayed payment, low-quality goods, and services. Therefore, getting detailed information about the subcontractor would go a long way.
One of the IFPSM code of ethic that I would emulate to enhance performance improvement would involve maximizing usage of resources that are available to reap a maximum benefit to the organization. This is accordance to the IFPSM code of ethic (C).
Yes, my companies have a code of ethics that each and every supplier must adhere to on top of the IFPSM guidances. A copy of the code of ethics is usually availed to the supplier before business activities are carried out just to make sure that he or she is aware of the expected norms. These code of ethics are tailored based on the nature of business, for instance, business involving international transportation has its code of ethics revolving allowed humanity welfare such as discouraging human trafficking and so on.
Reference
Overcoming language and cultural barriers in overseas trade - Startups.co.uk: Starting a business advice and business ideas. (2016). Startups.co.uk: Starting a business advice and business ideas. Retrieved 5 September 2016, from http://startups.co.uk/overcoming-language-and-cultural-barriers-in-overseas-trade/
