As the afternoon approached on Friday, Jan. 25 and instructors began releasing students to their long awaited weekend activities, Elizabethtown College’s business department continued its dedication to its students by offering an additional informational lecture.
As a part of the M&M Mars lecture series, Senior Vice President and Manager of Fulton International Group Amy Sahm offered new insights to the world of international business. Her presentation, titled “An Overview of Foreign Exchange and Trade Finance,” informed students on real-world information and examples of international trade.
“I hope that it gave them a different perspective in managing the risks in international trade and showed them how a bank can assist and give value to import/export customers,” Sahm stated. “It’s always important to see how classroom studies can be applied to the business world. It can also provide some insight into a potential career path.”
For this specific event, Sahm explained how Fulton International Group provides services to clients who are importing and exporting in foreign countries. “A lot of business becomes international business accidentally,” she said. Throughout her presentation, Sahm shared the tools used in international banking, the services and products offered by Fulton International Group, international documentary transactions and risk mitigation. She also gave a general overview of the factors of foreign exchange.
Toward the end of her presentation, Sahm explained that it is not possible to make an accurate prediction about the future of foreign markets. She also shared general facts about the market that could be interesting to an array of students, not only those studying international business.
Because of the extensive nature of Sahm’s lecture, her presentation lasted nearly the entire hour-long timeslot. However, one student was able to ask a question regarding the differences in professional communication between countries. Sahm’s response included an explanation about cultures that prefer to rely on handshakes and verbal agreements rather than contracts and other official documents. She emphasized the importance of being courteous to the beliefs of foreign business associates, but maintaining your own level of comfort for official business transactions. Her statement illustrated the dynamic makeup of international trade.
Sahm is currently a member of Etown’s International Business Advisory Boards and has given similar lectures on numerous occasions over the past six years. “Dr. Sylvester Williams [department chair and associate professor of business] asked me to participate in the lecture series. I’m always happy to engage with students to educate them on real life application of international trade and financial transactions. I sometimes present at [director of international business] Dr. Hossein Varamini’s International Finance class as well,” she stated.
Hoover 212, filled with well-dressed business students, fell silent the moment Williams introduced the guest speaker. Junior Brooke Morgan paid particularly close attention in order to receive additional credit in two of her current business courses, Corporate Finance and Cost Management Accounting. “Most business classes do offer extra credit when we attend the seminars, but you have to go to a certain amount and write reflection papers,” Morgan said.
Despite the appeal of attending such lectures to earn a better grade, Morgan understands how these events generally help business students. “They are a good way to get a feel for the business world realities,” she stated. “Most of the attendees are business students, and for those younger students who have yet to have internships or real work experience, it provides a chance to see what will be involved in potential careers post-graduation.”
Although Morgan is not an international business major, she was still able to apply Sahm’s insight and expertise to her own future career goals. Morgan explained that she became interested in working internationally within the business sphere after spending a semester abroad in Florence, Italy.
“I know that to be successful at an international level, you must be prepared and understand facts and figures about the country you are working in,” she said. “Today’s lecture was a good reminder that not every country does business in the same manner. When working internationally, learning about their business strategies, currencies and financial status will help solve problems when difficulties arise.”
Lisa Rosenberger, the business department’s administrative assistant, forecasted that 80 to 100 students would attend this event, which proved accurate when the room lacked enough seats to accommodate the large number of attendees. Faculty and staff members of the College were also in attendance.
“It is always a great pleasure to be involved with Elizabethtown students and campus functions,” Sahm said.