Global Business Experience 2015 : Nikhil Atkuri

The economy of Brazil is in the top ten largest economies along with the United States. It is the biggest in Latin America. Actually it is the seventh largest in the world. Brazil has used its newly found economic mechanism to syndicate its outcome in South America and show more of a role in the Global Businesses. The Obama Administration’s National Security Strategy recognizes Brazil as a developing center of effect, and greets the management of the country’s joint and global issues. The United States and Brazil associations mostly have been good in the recent years. But Brazil has other strengthening relations with neighboring countries and expanding ties with nontraditional partners in the South that’s developing.

The process of integration of economies around the world, known as globalisation, has catalysed the development of Brazil as a powerful emerging economy, through the expansion of trade and investment. Emerging countries are defined as those progressing toward becoming more advanced, through rapid growth and industrialisation. Consequently, Brazil’s rapid economic growth has secured its place in BRICS, an association of five major emerging economies, Brazil, Russia, India, China, and South Africa.

Moreover there are a lot of similarity between Brazil and American but both countries are denying having thing in common which they do. Black women in Brazil and the United States both of problems with their skin color, shortness and texture of their hair,

According to Wallerstein’s model, Brazil is considered to be a semi-periphery country. These types of countries refer to the industrializing, mostly capitalist countries which are positioned between the periphery and core countries, and shares some of their characteristics as well. Brazil is considered a developing country. Brazil is the largest national economy in Latin America, but it is still considered developing. Having both industrialization and global cities, Brazil has a high dependency on core countries. Core countries such as the United States or Canada aid Brazil. Brazil needs tourists to come from other nations, specifically core nations, such as New Zealand to benefit its economy. Additionally, to sustain its economy the exportation

Every country differs in culture which has been there for centuries. The international market is growing rapidly, with more and more multinational organisations entering new markets each day. In this assignment I will evaluate how the difference in cultures affects the performance of international businesses.

Due to Brazil being a massive country the culture seems to change depending on where a person lives. This makes sense considering in other countries the same thing tends to happen. For

Making business abroad can be risky, but it can also be profitable for a company as well; thus the necessity to study in deep the country where the company will bring the business to. International companies are faced with many cultural challenges, when doing business across and inside of different borders. Identifying the significant cultural issues involved when evaluating the attractiveness of a particular location as a place for doing business can be crucial for a business. Aspects to consider when studying culture in a new place

To do business effectively in Brazil, it is better for Brazilians to know who they are working with. Hence, businesses and investors should take time in developing relationship through frequent meetings which are mostly quite informal. Hofstede’s 5 cultural dimensions Power

However, this situation has already changed as administrative models adapted globalization. Companies have become homogenous (Novais, 2012). Even so, there is still the side of Brazilian business culture that cannot be changed. It is the expansion of Brazil’s social practices and

The business is to be structure by use of cross-cultural teams that can provide a source of experience and innovative thinking to enhance the competitive position of the organization. The manager is to avoid at all cost cross-cultural misunderstandings and understand that Brazilians prefer collectivism to individualism. The manager is to implement the right price for the right product the culture needs in order for the business to have a chance at success. A work description with work shifts, mutual respect, benefit packets, respect for all religion, and a dress code. Formal apparel is acceptable for business Overall, the appearance would not be a huge deal as the Brazilian people are extremely concerned about their appearances and they practice their religion but it does not affect the workplace. Business meeting are to take place once a week to discuss progress of the business and handshakes are appropriate for both men and women however, once the women get to know you and/or a friendship is develop and kiss on the cheek is not unusual. Time is important but allow at least 20 mins for the latecomers as Brazilians idea of time is flexible than it is in the United States. If any questions and problems the manager does not understand, then the headquarter office in the United States should be contacted for

The Federative Republic of Brazil is the largest country in Latin America, fifth largest in the world, and has the largest economy in Latin America as well. With upwards of approximately 204 million inhabitants, the opportunity for expansion in to such a competitive market seems enticing for those willing and able to endure the countless social, cultural, political, legal, and global factors that comes with expansion to the seventh-largest economy in the world. Companies who are successful in their endeavors will encounter a global consumer base and may instantaneously reap the benefits of such a populated market. However, in retrospect, those who are unsuccessful could face severe losses from a branding perspective and ultimately, financially.

When doing business in Brazil there are many things to take note of. To begin with, Brazilians need to know who they are doing business with. As a result make appointments at least two weeks in advance. Face-to-face meetings are preferred instead of written communication so they know exactly who they are doing with. During meetings, business men socialize over coffee which at times can make meeting informal. When exchanging business cards, they are to be done during introductions with everyone at the meeting. One side should be translated in Portuguese and should be presented with that side facing the recipient. Brazilian companies have a vertical hierarchy where the managers at the top make the majority of the decisions. Most of the management is men but recently women are starting to gain these roles as well. When dressing, men should wear dark colored suits. Usually if someone is an executive they will wear a three-piece suit while a two-piece suit is worn by office

Brazil’s Culture is that they diverse Latin American. Their main influences come from Portugal since they have strong Portuguese colonial ties with the Portuguese Empire. This has influenced Brazil’s language, religion, laws and other cultural traditions. (Waldo’s Travels) In Portugal, the family is the basis for Portuguese stability and extended family is very close. They are loyal to their family and believe family comes first. The Portuguese are very conservative and use extreme politeness when dealing with others in order to maintain formality. Their appearance is very important from their own clothes to their cities. The Portuguese respect hierarchy and the catholic religion and family play a roll in this hierarchy. In business terms, the power and authority resides with only one individual. This individual usually makes their decisions without considering their subordinates. (Kwintessential) Brazil shares not only some of the same culture as Portugal, but also some of the same views concerning appearance and business. Concerning appearance in the business world, Brazil views three piece suits as executive attire and two piece suits as suits for office workers. Women should always have their nails manicured and always be dressed conservatively. The colors of the flag should never be worn. It is common to touch hands and elbows, but considered rude to give the “ok”

The primary question that Brazil faces as it moves into the 21st century is whether the Brazilian style of capitalism, which harnessed their economy towards growth as a developing economy, is sufficient to drive them as a developed country. Averaging 3.8% GDP growth over the last decade, this transition seems inevitable; Brazil has shifted from an agricultural giant to a country in which 90% of the population works in the industrial and service sectors. However, as they make this conversion, they must examine their economic policies to ensure that they are still applicable and advantageous. For example, Brazil must keep promoting their industrial policies. Brazil may fall back into a commodity-driven economy if raw

According to the works of Chaney & Martin (2011) and Harris & Moran (2000), they agree that international management skills are in need for the increasing scope of international trades and investments. A large number of multinational companies have expanded their businesses through both developed and developing countries. Some of the business invest directly and others are partnership arrangements and strategic alliances with domestic operations. Their studies show that independent entrepreneurs and small businesses have started investing and competing in the world marketplace. Thus, to acquire corporations’ objectives, there is exceedingly a necessity for the development of strategic framework for cross-cultural management and communication in the current competitive global market. Chaney & Martin (2011) also noted that, cultural awareness and cultural differences are strongly important to the multinational corporations’ success. A good understanding of the culture where business is implemented can make international managers productive and effective.