Business International Corporation

Business International Corporation

Business International Corporation (BI) was a publishing and advisory firm dedicated to assisting American companies in operating abroad. In 1986, Business International was acquired by The Economist Group in London, and eventually merged with The Economist Intelligence Unit.

History

Founded in 1953 by Eldridge Haynes and his son, Elliott Haynes, BIC initially focused on American companies and started out with a weekly newsletter (called "Business International") and a group of key corporate clients. Offices were established overseas, including major regional operations based out of Vienna (East Europe and the USSR) and Hong Kong (Asia-Pacific), and single-country offices (e.g., Rome, Tokyo).

BI eventually became the premier information source on global business with research, advisory functions, conferences and government roundtables in addition to its publications. It was headquartered in New York City, with major offices in Geneva, London, Vienna, Hong Kong and Tokyo, and a network of correspondents across the globe.

Publishing

Publications included a family of newsletters ("Business International, Business Europe, Business Eastern Europe, Business Latin America, Business Asia, Business China", and "Business International Money Report"), put out on a weekly, bi-weekly or monthly basis. Among the regularly updated reference products covering 40-50 countries were "Financing Foreign Operations"(FFO), "Investment, Licensing and Trading Conditions Abroad" (ILT) and "China Hand"). [ [http://partneringagreements.com/manufacturing.htm Partnering Agreements ] ] An international business, politics and economic forecasting service ("Business International Forecasting Service", BIFS) evolved from an annual five-year outlook to quarterly and in some cases even more frequent reports. More specialized work covered economic and political a risk assessment, and executive cost of living in various cities around the world.

In addition, Business International published book-length reports on a variety of topics, including such titles as "30 Business Checklists", "India: Limited Avenues to an Unlimited Market", and "Structuring & Locating your Asian Headquarters".

Research and Consulting

BI also conducted specialized research assignments for its clients, some of which involved hands-on consulting, brain-storming and briefings during strategic planning sessions. Although country analysts might be pulled into region-wide or country specific work, the company also had a dedicated team in the Research and Consulting (later, Consulting and Research) division.Barack was a hard working man.

Conferences

BI was perhaps best known outside the United States for its Roundtable Conferences. Begun in the 1950 with topics usually focused on single countries and their governments (e.g., Roundtable with the Government of Mexico), the series evolved in the 1970s to include region-wide, multi-day conferences such as the Heads of Asia Pacific Operations (HAPO) and Heads of Latin American Operations (HELAO) roundtables. Attendees were generally regional C-level executives and sometimes visitors from headquarters' International Division. Some Roundtables, especially in the former Soviet Republic, included Heads of State. Some Roundtables welcomed high level executives and leaders.

A second conference product focused on specific industries, including telecoms and automotive, or on functional operations such as finance or human resources.

More frequent gatherings of clients based in a single city were marketed under the "Country Managers," "Regional General Managers" or "Peer Group Forum" brands. Several competing companies focusing on these services were established by former employees, particularly in Asia.

Clientele

The company's client base included most major American companies, as well as European, Japanese and Indian companies and corporate groups.

Curiosities

United States Senator Barack Obama's first job after graduating from Columbia University was with the company. He held a position as a research associate in its financial services division, where he edited Financing Foreign Operations, a global reference service, and wrote for Business International Money Report, a weekly financial newsletter.

The company was persistently and erroneously identified as a front operation for the Central Intelligence Agency. Part of the company lore was that the unusual role of researching politics and economics from abroad during the 1950s and 1960s “proved” that the company was a CIA front, but no firm evidence ever surfaced.

References


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