Professor Wernerfelt has been a thought leader on various strategic management, economics, marketing, and management science topics for decades. His work on the resource-based view has set the tone for numerous studies and advances across many business fields (see Wernerfelt 1984, Strategic Management Journal). For this invited research presentation, Wernerfelt will focus on issues that he presented at the Copenhagen Business School recently when they awarded him an honorary doctorate. Specifically, his presentation titled Small Forces and Large Firms: Foundations of the RBV is a synthesis of several papers he has written since the publication of A Resource-based View of the Firm (Wernerfelt, 1984). The starting point is a very small force: The reduction in bargaining costs when several bargains are pooled into one. He shows that one can construct a theory of the firm based on this force and defend the theory by arguing that it makes predictions consistent with several stylized facts. In addition, the theory suggests that firms should decide on their strategy and scope based on excess capacity of productive resources – exactly like the RBV. More on Birger Wernerfelt can be found at http://mitsloan.mit.edu/faculty/detail.php?in_spseqno=41242)

Coface Country Risk events focus on the outlook for business-to-business trade around the world. Attendees include companies, banks, academics, and professionals from the international trade community.

Speaker Mr. Ning Shao, Director, Michigan China CenterChina is the third largest export market for the U.S., and China is Michigans third largest export market, with $3.3 billion in export sales last year. Michigans exports to China grew 21% from 2011-2012; is your business part of this growth? Mr. Ning Shao will present a brief history of Chinas reform over the past 30 years and Chinas five-year plan, and why they matter to Michigan. He will cover eight lessons for doing business in China, as well as potential business opportunities and challenges in China for Michigan businesses.The Global Business Club of Mid-Michigan focuses on global issues of interest to the mid-Michigan business community. The monthly GB Club luncheons provide outstanding speakers and relaxed networking opportunities. With extensive international experience, the speakers wrap personal insights around a practical and up-to-the-minute approach to conducting international trade.