YSU business students help local companies with export plans
Student teams from Youngstown State University’s Williamson College of Business Administration recently completed export plans to assist seven local companies with export strategies for products in manufacturing, biotechnology and agriculture.
Working with companies in Ashtabula, Columbiana, Mahoning and Trumbull counties, each team created an exporting plan, selected countries that would be the best match for company products, and identified 210 foreign distributors, agents and wholesalers for business growth in 21 countries. Collaboration with businesses engaged in international trade will also create opportunities for export internships with local companies during the summer semester.
“We at NanoLogix were impressed with the results of the marketing study compiled by the student team from the export class at the Williamson College of Business Administration at YSU,” said Bret Barnhizer, chief executive of NanoLogix Inc.
“The team, using their access to the strong tools provided by the university and the state of Ohio, produced a report that we were immediately able to use as an aid in assessing which of the three targeted countries in the study has the highest potential for use of our products. We were pleased to be part of the group of local companies invited to participate.”
NanoLogix, Inc. is a biotechnology company headquartered in Hubbard, Ohio. The company manufacturers four major types of technologies: BNF, BNP, N-Assay, and Flatpack packaged petri plates. The company currently holds relationships with nine countries in four continents.
Students reviewed export regulations based on U.S. Export Administration Regulations and identified Harmonized System codes for company products, which is necessary for exporting. The exporting class offered hands-on training in international marketing, international finance, international management and international supply chain management. The exporting class prepares students for the Certified Global Business Professional certification, a prestigious designation that has recently gained national and international recognition.
The exporting course offered by the Department of Management supports the WCBA goals of expanding business students’ global learning experiences, providing applied learning skills, and expanding partnerships with the business community.
Business students are exposed to international business through a number of venues within the Williamson College of Business Administration at YSU. The WCBA Center of Excellence in International Business encompasses global learning experiences for students, research in international business, the study of emerging markets, and training and consulting services for businesses. Components of the Center include the Williamson Center for International Business, the Emerging Markets Initiative, and the Ohio Small Business Development Center, which houses the International Trade Assistance Center at YSU.