Spanish most important language
According to a survey by the temporary-help firm Accountemps, 44% of executives felt that Spanish was the most important foreign language for a successful business career in the next 20 years. Japanese was next at 33%. Others were ranked as follows: French, 8%; Chinese, 6%; German, 5%, and Russian, 1%.
Don’t forget to check the oil
A recent TeleNation survey of 1000 adults found that 85% had changed the oil in their primary car in the last six months. A little over half of those indicating that the oil had been changed said that they did it themselves or had a friend or relative do it. Slightly less than half (48.4%) went to a commercial outlet for a change. In that segment, 28% went to a service station, 26% went to a quick lube and oil change outlet, and 22% went to a car dealership. The remaining 24% was made up of independent repair garages (9%), tire company service centers (5%), and discount or department store service centers (5%).
Businesses dissect their travel budgets
According to a recent survey of corporations by Runzheimer International, a Rochester, Minn.-based travel consulting firm, airfare accounts for the largest share of a company’s travel expenditure.
It makes up 44% of the total, followed by lodging (22%), and meals (12%). The remaining segments are shown in the graph.
Most firms looking ahead to European unification
A recent Opinion Research Corp. survey found that approximately half of America’s largest companies plan to expand their role in Europe’s commerce when the 1992 unification arrives. More than 500 executives, nearly 200 of whom are actively involved in international operations at their respective companies, were interviewed by telephone.
According to international operations managers, American business’ response to the prospect of 1992 primarily involves seeking European suppliers (48%), and expanding their European exports (42%); however, many of America’s largest firms are also planning to increase their physical presence in Europe. Two executives in five (42%) who are active in international operations say their company is looking for European joint venture opportunities. More than one in three (37%) say their organizations will at least establish a European office. Other planned actions include: acquiring a European company (30%); establishing subsidiaries to serve the new market (25%); and building new European facilities (22%).
The most frequently reported company activity is information gathering. 72% of the executives say their companies are reacting to 1992 by monitoring their European competitors more closely, and half report a serious commitment of resources to study the consequences for the company.
International operations executives are the most enthusiastic about 1992’s prospects for their companies. Nearly three in five (57%) believe the impact will be at least moderately favorable (although only 7% project a very favorable impact); 13% see a moderately or very unfavorable impact on their company; 26% see no impact at all; 4% are unsure.
Even among executives in total, positive expectations outweigh negative ones: nearly half (45%) see a favorable impact on their company, while 10% fear negative results. Two in five expect the 1992 Common Market to have no impact on their companies.
The mostly favorable attitude of executives is reflected in their views of the possible macroeconomic and political effects of the new Common Market. Among all executives in the study, 77% agree with the statement that an economically unified Europe will be a positive development for the U.S., as well as for the other trading partners of the European community. Nearly the same number of executives (74%) believe 1992 will result in an increased flow of goods into the United States.
On the negative side, one-third (33%) of the executives believe that trade barriers against American products will result from the new Common Market. 26% of the executives agree with the statement that an economically unified Europe will benefit only the countries in the European community.
Most American executives foresee neither the extreme of future political and military unification (78% disagree that this is likely to occur), nor that the individual interests of the European countries are too divergent for an economically unified Europe to be successful (64% disagree).