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#Written by David Tam, 1996. #
#davidkftam@netscape.net Copyright 1999#
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David Tam
Wednesday, October 16, 1996.
Business Press Review
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Brethour, Patrick. "Software company lands in Tehran". The Globe and Mail.
Wednesday, October 16, 1996. B15. ------------------
SLM Software Inc. of Toronto is a Canadian software company that has
achieved success by looking towards the global market. It is sending
programmers, for three weeks at a time, to Tehran (Iran) to install electronic
banking systems and to provide training. SLM won the $4.1 million bid, which
is the company's largest contract to date, from the Iranian finance ministry,
. Currently, foreign clients from 35 countries provide 80% of SLM's revenues.
It's international clients include banks in Russia, Peru, and India. Like many
other Canadian companies doing business abroad, SLM relies on Canada's
"nice-guy" reputation. Some of the success in the various international
markets is due to the fact that Canada is a multicultural nation.
Consequently, the company's 100 employees speak 15 languages, giving it an
advantage when dealing with foreign clients. Cultural awareness is
incorporated into the company's environment, beginning with its hiring
policies. Experience with cultures outside of North America and the ability to
speak foreign languages is considered a bonus in potential employees. However
those criteria alone do not guarantee a job at SLM. In the constant search for
new foreign markets, the company sends its more seasoned travellers abroad to
discover business opportunities, as well as to observe proper foreign customs
and behaviours. The new knowledge is then incorporated in an informal manner,
relying on informal conversation between employees. This approach has proven
to be very successful, as SLM's revenues increased from $2.5 million (four
years ago) to $9.5 million.
I believe this article illustrates the potential strength of Canadian
companies that export products and services. We have dealt with the subject of
imports and exports in our lectures and we have been told of the potential.
This article further confirms that idea. Professor Paradi mentioned the
business opportunities created by each individual's ethnic background. SLM has
realized this as well and are profitting from this fact. Many Canadian
companies do not realize the opportunities that can be found abroad, nor the
competitive advantages inherently possessed within employees, who most likely
come from a variety of backgrounds. In comparison to other foreign businesses
that export products and services, Canadian businesses should possess the
competitive advantage.
(
geocities.com/siliconvalley/campus/9640/2ndYear) (
geocities.com/siliconvalley/campus/9640) (
geocities.com/siliconvalley/campus) (
geocities.com/siliconvalley)