Mr. Pat Dugan Shares International Business Experience

On Monday, November 16, 2015 Pine-Richland Future Business Leaders of America (PR-FBLA) continued its speaker series and welcomed Mr. Pat Dugan.

 

Mr. Dugan is currently Chief Financial Officer at WABTEC (Westinghouse-Airbreak-Technology-Company) Corporation. Mr. Dugan knew he would want to follow in his father’s footsteps, as this is his greatest influence. Mr. Dugan spoke about International Business. He specified the tasks, risks, and social factors of international business.

 

There are various skill sets valued in International Business. These tasks enable an employee to get his or her job done. Mr. Dugan spoke on the following:

1.       Marketing Capabilities

2.       Global Manufacturing

3.       Accounting and Finance

4.       Human Relations

As is the case with any job, Mr. Dugan spoke on the risks involved in navigating the risks of International Business. It is important to know the risk before starting a project, rather than finding a risk during the project. These are as follows:

1.       Failure; not enough attention to the product

2.       Technology issues; technology does not work the way it is need to

3.       Environmental; weather does not cooperate

4.       Political; take everyone’s opinion into account

There are multiple social factors that we do not take into account before starting a career. Mr. Dugan presented the following social factors associated with International Business:

1.       Geography Matters

2.       Climate is Important

3.       Natural Resources are Valuable

4.       Politics are Crucial

5.       Legal Issues

6.       Different Cultures and Business Customs

The end goal of International Business is PROFIT! However, this profit does not come easy. Mr. Dugan gave the students insight on the expectations of an International Business career and the associated risks. Thank you to Mr. Pat Dugan for sharing his time and expertise with the students of PR-FBLA.