Brazil : An Emerging Economy

Decent Essays

As an emerging economy, Brazil has gone through tremendous changes in the business sector. The Country’s rapid development and capabilities makes it a very promising destination to extend business.
Growth and culture:
Brail can be classified into two cultures; the upper class and the non-westernized rural culture. The most prominent reason multinational businesses fail abroad is because they are unaware of the culture. Therefore, it is imperative that managers learn to adopt and implement distinct ways of working in this country. In addition to learning a new language, a manager should become a part of the cultural processes.
Brazil is known for its inequality in terms of incomes. Decision-making is often done by the senior management. Gradually building a working relationship is crucial to one’s success as an outsider. Business practices differ by region. In the major cities such as Rio de Janeiro, São Paulo, and Curitiba, many companies have started dealing with international businesses.
Brazilian industries are more globalized now. However, the differences in culture are highly detrimental in the way people from two nations prefer to be managed and do business. It is important to note that Brazilians may feel disrespectful if you use their first name too early in the business relationship. Being upfront with people who are powerful and influential is considered disrespectful and this may also result in a loss in business ventures.
In Brazil, good cross cultural

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