 Hi, I am Sardar. In BMU, I teach early business models like intro to business and management and business and technology. I have two master's degrees. One is pedagogical and second one related to business analytics. So I also work it in a company. One of the largest companies in Uzbekistan was Uzbekistan Airways for five years. So I can share my experience with students. I really enjoy teaching introduction to business and management to our students. It helps them to acquire basic and fundamental knowledge in business and in their senior years it will be easier for them to acquire as a module. My teaching philosophy is that education should be accessible, comfortable and interesting for students. Therefore in my classes, I conduct a lot of interesting activities, educational games. And we have a lot of open discussions, case studies from real life. If you are seeing learning as challenging and difficult for you, take a seat in one of my classes and I will change your mind. So hello dear students. Today we will have our second seminar in our week. And we will talk about competing globally and review the topic which you covered during the election. So as far as I know guys, you learned about the methods of entering to global marketplace, yes? So you learned about several methods and now we will make a revision of it. So I will show the picture and you will tell me what kind of method is it. Okay. So first method of entering to another market, yeah? Sporting. Experting, yeah? Licensing and franchising. Yes, exactly. So we move on. Contract manufacturing. Contract manufacturing. Okay. Contract manufacturing, you are right. Joint venture, yeah? So next. So please repeat. Okay. So foreign direct investment, direct foreign investment, FDI in a short so you can say yes. And there is one last, let's say method of counter trade, yeah? Good. So we will quickly review all of these methods guys by doing one activity. Is it clear? So for these guys, I will need some volunteers, okay? So yeah. They will come here. We will start with exporting. There are cards guys, okay? Cards. So you will choose necessary keywords related to exporting, show them and explain how this happens, yeah? For example, keywords like domestic firm, foreign firm, okay? Product, is it clear? And using these cards, you will show and explain. For example, domestic firm, vice foreign firm, is it clear? So okay, what's your name? Laziza. Laziza and Kami. Okay, let's go guys. We will start with you. So look at these cards and try to choose which one best suits to describe exporting. So let's like sum up. So who will pay royalty and agreed fee? So show. Licensee pays too. And licensor does what? Pays mark, seven and they get royalty and agreed fee. To take the branding and to produce the food, fast food. So who is a licensor? Licensor is here at KFC and licensee is a domestic company that agreed to be part of franchise. I will tell you one brand guys and put the first letter, okay? H. Last letter is M. This is a brand name which does licensing guys and franchising, yeah? Heineken beer. So this is a big building guys. Yes, yes, yes, exactly. So guys, hotel chains also do licensing guys, okay? So Hilton, here, Marriott, okay? Good, thank you. And the most to try the waters in the foreign market, they usually use the contract manufacturing. So they produce their product with foreign country, but under the label of this foreign country. So to see if it's show the cards, yeah? To see if their product under the private company name will succeed in foreign market. If it succeeds, then the company, the domestic firm, will enter this market. If it's not, they will just leave it and it's beneficial for both companies. Okay, well done. Thank you very much. Can take a seat. So in a contract manufacturing is a guy's wide term, okay? In a business world, it also represents type of outsourcing guys, is it clear? So when a domestic firm with a strong brand, okay, allows foreign company to manufacture products for this domestic brand or under the domestic brand's name. For example guys, Apple, yeah? Apple manufactures their spare parts of their technology of mobile phone elements in for example China. Yes, there are China manufacturers, Chinese manufacturers, right? So they manufacture Apple parts for the Apple. Is it clear? So this is one example of contract manufacturing. Joint venture is a business like two or three companies can do one new thing or one new business activity in their accomplished business. If domestic firm offers the foreign firm to produce some kind of product or produce some kind of business activity, they will have a new field and this will be like new project or new business activity. So two companies, yes, usually foreign and domestic company, yes, join together to establish a new entity, yes, they will be equal owners. Profits are shared, a shared ownership, right? So this will be a joint venture, right? The companies may be more than two or three. Maybe two or three, yes, exactly, well done, good job, yeah? Take this, thank you. So, guys, any examples for the joint venture? Yes, please. Please explain. Toyota and Ford work together actually from the second Toyota produce an engine, an engine, whereas that Ford can produce their cars which are required for Toyota. So they want to combine their ventures to make this development. So as you can see, guys, one of the advantages of joint venture, they can use strengths of both companies, is it clear? They combine stronger size of two companies, right, to become a stronger business. But there is a disadvantage, guys, yes, of a joint venture or let's say some kind of risk, risk, yeah, what is this risk? Risk and failure. Yeah, many of them fail due to what? Takeover. Takeover, takeover. So it happens when one company in joint venture takes over or buys fully another company, guys, and the joint venture finishes. Is it the least expensive, least complicated way? The least complicated but not exactly the least expensive. Not least expensive, yeah. What about the risk, guys, is it? Least risky, no risk, all of them. So please explain. There is a great risk. Great risk, yeah. So why guys? Why there is a great risk? I don't agree, I don't agree. I think it's not so risky because you buy at least 50% of shares of the company, so you have a say in what the company is doing. So you have some kind of control and so you have a decision. Control. Control is the advantage of foreign direct investment, guys. You have the better control. So you have to get decisions and if you fail this company, it means that you fail, not the company. That you fail, yeah. That you fail and you bear all the risk yourself. Is it clear? Which means this is a very risky, okay? Because all expenses will be on your... Is it clear? So this is the largest and biggest method of entering to the global marketplace of foreign market, guys. As an advantage, you will control everything yourself as an advantage. But there is another side, where there is the biggest profit, biggest advantage, there is also biggest risk. Is it clear, guys? So you play big game, you want to earn more profit, but also there is more risk. Experting is called the least risky way because you don't build a new entity in the foreign market. Is it clear? You don't own another company, you just expert one. Let's say portion of products, you see, okay, sales is good. Let's do it more. Expert, is it clear? Okay, it's working. Let's do more. Okay, is it clear? After you become a great exporter, after your sales become very good in this market, you can go to another way of partnership. After then, after you know, test the water in the market, you can go to larger ways of entering the marketplace. Is it clear, guys? Counter-trade usually happens in the international trade between countries. Some countries may prefer instead of cash. Probably they lack cash. So to pay with what? The product which they produce in their own country as their comparative advantage, yeah? Right? We learned about comparative advantage, yeah, last time. Okay, so, okay, good job, guys. Thank you very much for your involvement. Good morning, dear students. Today we will do an interesting activity. We will play a job at the game related to our topics which we covered previous three weeks. Okay, let me tell you briefly the rules. So there are several types of category of questions and there are different types of difficulty of questions. Okay, so every team chooses one question, okay, and I will give very short time for them to think the answer. Okay, around 15 seconds. Is it clear? When the team is ready, they should answer. If they answer correctly, they get the score. Is it clear? Now, another interesting part. If they cannot answer correctly, other teams can also participate. For these guys, you have to raise this paper, okay? So the team which raises paper first will be asked first. Now, there is a small punishment for being incorrect. I mean, not for the team, for the main team who selected the question. The team who selected question, if they answer incorrectly, they are not punished. They just get zero. Okay, now, if you know the answer for the question which other teams selected and you take a risk and answer and you are wrong, you will be punished with a half of points. Is it clear? Therefore guys, when you raise a paper, raise wisely. Okay, when you are confident. But if you answer correctly, you will get the point. Is it clear? There are some half points as well. For example, you answer half the question correctly, you will receive half points. So cheating is prohibited. So I ask you to close all of your notebooks, please, yeah? So and take, take them away. Is it clear? So if you are ready guys, I will introduce you the category of questions, okay? So basic of business. Micro and macroeconomics. International trade. International organizations. Market structure. Okay, now we have four teams and they chosen the names. So we will ask outsiders to select the question. Basics of business, 1000, okay. So are you ready? So apart from donations, government funds, sponsorships, investments, how can non for profit organizations rise funds? You have 15 seconds to think. So if you don't have answer, just say skip, like pass. If you know the answer, raise a paper, yeah? Okay guys, let's listen. Non-profit organizations must may have a merchandise and they can sell it and get some profit out of it. Correct. Well done, well done, yeah? So outsiders receive 1000 dollars. Well done. So we continue. Now next team please, Howard Foxes. Micro and macroeconomics, 1000. So okay, we have a first team, like if they cannot answer, you can answer. So guys, are you ready? Are you ready? So there are two tools which which provided by the government. It's monetary policy and fiscal policy. Can you please briefly give a definition? Well, monetary policy is in short in interest rates. On the other hand, fiscal policy, it's tax. Okay, we can consider this as a correct answer. Well done, good job. So next team, monetary fiscal policy. Well done, correct. So entrepreneurs. 800, which one? Okay. So if they cannot answer, you can use your chance guys, but remember there is a punishment, yeah? So second serve. So guys, are you ready? Who will answer? Rabia, please. They try to stress the differences between the other competitors, their opponents, and by that they try to get their customers. Yeah, they stress the differences. Excellent answer, correct. Five product differentiation, exactly. So well done. So we are having here winners. Everyone is winning, well done. This is the first time I am having such a situation, yeah? Well done. So outsmarters, yeah? Can you outsmart all of them, yeah? Yeah, for the next time I will prepare 2,000 guys if you want, yeah? So competing globally, 1,000, yeah? Let's go. So you are ready? Ready to answer? Yes. Nobody raise it? You raise it first, okay. Okay, let's listen to the answer, guys. Please. So stand up. She wants. Okay, you want. Yeah. Okay. And the difference between them is that direct investment, businessmen provide their active ownership in foreign country while in a whole joint venture to companies from domestic country and foreign countries they connect with each other and produce their own new product. Correct, well done, exactly. Well done, like. I am surprised at the guys. Okay, pretty easy question, yeah? So if it was language, I think it's not. It says Tari, Tari. So be careful, we have a very tricky questions as well, okay? Yeah. Oh, I'm surprised, yeah? Hell, you are a different person, okay? It depends which country you live in, guys, yeah? In some countries. Next question is Packer. Test. Today's winner, Abutay.