How National Business Environement Different In Each Country - 825 Words

How National Business Environement Different In Each Country? (Essay Sample) Content: National Business EnvironmentNameUniversityAbstractNational business environment refers to the factors that affect the operations of a business in a countryCITATION Cap12 \l 1033 (Booker, 2015). These factors include internal and external factors. External factors include political, macroeconomic, microeconomic, legal, technological and social factors. Internal factors include leadership, business organization and employee cultureCITATION Cap12 \l 1033 (Booker, 2015). This paper intends to study the national business environments in the middle east, Asia and Latin America using specific countries as case studies.In the middle east region, we take a case of Qatar. Qatar`s economy is mainly driven by the oil and gas industry which contributes over 50% of its economic income. This sole dependence on oil and gas has however left the country vulnerable to economic shocks caused by drops in oil prices. Despite of this, the country is still ranked as one of the best econom ies in the middle east and African region by the Economist Intelligence unit (2014).Qatar`s cultural business environment is unique since even though it is an Islamic country, more than three quarters of its residents are expatriates. This population dynamic means that business etiquette will depend on who one comes in contact with. One is expected to use a local agent when conducting business in the area unless they live there.Business negotiations in Qatar take time hence one may be forced to make frequent visits. Trust and reciprocity form the fundamentals of negotiations here. Business activities are conducted Saturdays to Thursdays with most offices being closed on Fridays. Dressing code is modest and should ensure that most of the body is covered in both men and women. Gift giving is common practiceCITATION Wor \l 1033 (Britton Worthington., 2016).Wealth and status are intrinsic in Qatari culture, senior managers are given respect and management is usually of top-down struct ure. One should take time to know the individuals they are conducting business with as personal relations are quite important in QatarIn Asia we take a case study of Singapore. Singapore is ranked as one of the top economic giants in Asia alongside Hong Kong, Australia and New Zealand CITATION Wor \l 1033 (Britton Worthington., 2016). The boom in its economy can be attributed to a well-established macroeconomic policy and maintenance of a conducive legal and political temperature. Its strong culture of intolerance to corruption and the presence of well-functioning judicial system have given it a stable foundation for establishment of businesses.Singapore has four official languages. They include English, Malay, Tamil and Mandarin. Name cards are an important aspect of Singaporean business culture and should be presented with both hands. When addressing a Chinese, the family name is given priority as a show of respect. In the case of Malay people, the first of the two family names is chosen while the Indians use a variety of ways. Punctuality is an important aspect hence one should always strive to arrive on time.Business attire for men in Singapore is a standard suit while for ladies its blouses and skirts. When it comes to the negotiating table, the business etiquette varies among the Indian, Chinese and Malay. Status and hierarchy form an integral part of their business culture and many companies have a top-down management structure. Most meetings begin with small talk as this is considered polite, topics discussed may include personal life as this is part of the interaction process.In Latin America we take a case study of Chile. Chile has one of the best economies in Latin America given that it is a foreign investment destination, it has a healthy capital market, a strong fiscal position, and an open foreign investment program CITATION Wor \l 1033 (Britton Worthington., 2016). In the recent past however, the Chilean economy has seen a slight dip. The d rop can be attributed to the expansion of the government size, the introduction of redistributive tax measures and rise of the corporate tax.When it comes to business culture, Chileans prefer a handshake during the first meeting but you may encounter women patting each other on the shoulder. One must address people formally using their surnames, in most cases you may meet individuals with two surnames in which cas...