Umit Gumusten

Are Middlemen in International Trade Obsolete in the Digital Age?

The role of the middleman in international trade has been around for centuries, but with the digital revolution in full swing, it’s definitely not what it used to be. Anyone involved in

Strategy

September 25, 2024

Agility vs Long-Term Planning: Finding the Right Mix

Planning is important. We hear this all the time. But in a world that moves as

Strategy

September 18, 2024

The Psychology of Strategic Negotiation: What You Can Learn from Diplomats

Negotiation is everywhere, from closing business deals to workplace dynamics, and even the decision on where

Business·Marketing

September 13, 2024

Using Big Data to Grow Your Small Business

Big data, huh? You think you’ve heard that term thrown around you quite a lot, especially

Entrepreneur

September 11, 2024

Must We Be Capitalist to Be an Entrepreneur?: A Non-capitalist Entrepreneur Perspective

Perhaps the most immediate archetype that comes to mind any time the issue of business comes

The Timeless Art of Persuasion: A Review of Aristotle’s ‘Rhetoric’

October 6, 2024

by Umit Gumusten

When it comes to understanding the art of persuasion, Aristotle’s Rhetoric is considered one of the foundational texts in Western thought. Written in the 4th century BCE, it stands as a testament to the timeless nature of communication principles. In Rhetoric, Aristotle dissects the components of effective speech and argumentation, providing a

International Trade

November 28, 2021

Global Value Chain | What is GVC?

What is Global Value Chain? Global Value Chain is the organizational structure created by spreading the production processes to various countries in order to provide sustainable competitive advantage.

International Trade

November 26, 2021

Working With An Intermediary For Your Export Strategy

Entering new markets can be challenging for small or medium sized businesses regardless of the country they are located in for a number of reasons. Especially considering the diversity of markets in the world; in addition to choosing the right market, there’s one big question for SMEs to find an answer to:

International Trade

November 24, 2021

Export Modes

Exporting and importing activities of SMEs play an important role in the global economy. Today most of the businesses start with the vision of exporting their goods as well as domestic sales. There are a number of reasons as to why it’s been getting more popular since the late 90’s. The first

Entrepreneur

November 6, 2021

Inspirational Movies Every Entrepreneur Should Watch

If you’re looking for an inspiration or a good movie just to enjoy your time, these movies will make your day.

Payment Terms

July 5, 2021

Letter of Credit | Payment Terms in International Trade

L/C, short for “Letter of Credit”, is a contractual payment instrument that guarantees the importer’s payment to the exporter when the exporter ships the goods to the importer in conformity with the terms and conditions in the sales contract and presents the required export documents to the advising bank.

Payment Terms

June 12, 2021

Open Account | Payment Terms in International Trade

Open account, also known as Cash Against Goods, is a payment method that enables the importer to pay for the goods after they are cleared at the customs of the importing country or on a fixed date after delivery, typically in 30 to 60 days. While it is a risky payment option

Payment Terms

June 11, 2021

Cash Against Documents (CAD) | Payment Terms In International Trade

CAD, short for “Cash Against Documents”, is a payment method in which banks are used for intermediation in terms of payment and transfer of the export documents from the exporter to the importer. It’s also called Documents Against Payment (DAP). In CAD, the exporter designates its bank (remitting bank) to forward export

Payment Terms

June 9, 2021

Cash in Advance | Payment Terms in International Trade

What is Cash in Advance (CIA)? Cash in advance, also called cash with order or advance payment, is exporters’ favourite payment term as it requires the importers to pay for the goods upfront, generally upon confirmation of the proforma invoice. Depending on the agreed terms, It may not be full payment of

Incoterms

June 6, 2021

INCOTERMS 2020 | CIF – COST INSURANCE FREIGHT

CIF, short for “Cost Insurance Freight”, means that the exporter is obligated to deliver the goods to the buyer by placing them aboard the vessel which it paid for and cover the insurance as well. The exporter assumes all the costs of loading to the collecting vehicle, inland transport, export clearance, THC,

Incoterms

June 5, 2021

INCOTERMS 2020 | CFR – COST AND FREIGHT

CFR, short for “Cost and Freight”, means that the exporter is obligated to deliver the goods on board the vessel arranged by the exporter itself. Until the goods are placed aboard the ship, the exporter bears all risks and costs of loading to the collecting vehicle, inland transport, export clearance, THC and

Incoterms

June 4, 2021

INCOTERMS 2020 | FOB – FREE ON BOARD

FOB, short for “Free on Board”, means that the exporter is obligated to deliver the goods aboard the vessel designated by the importer at the agreed delivery port in the country of export.