Cultural Traits of Brazil
Brazil is the fifth largest country in the world, has the ninth largest economy and a population of around 178 million (According latest census in 2000).
Largest economy in Latin America, and the largest work force.
Offers a wide diversity of cultural and social activities.
Following the oil shock in 1970’s Brazil developed its sugarcane-alcohol industry which today fuels around 20% of private car fleet.
Heavy bureaucracy. The political system has 3 independent branches: Executive, legislative and judicial.
Has abundant agriculture, mineral and energy potential. It is world’s largest producer of tin, quartz.
Broad industrial base and infrastructure, diversified economy. Major manufacturing industries include petrochemicals, cement, automobiles, steel, mining etc.
Attracted 3% of total global foreign direct investment last year.
FORM OF BUSINESS ORGANISATIONS AND STRUCTURE:-
Two types of companies:
Limited liability company (LLC)
All key decisions are taken by senior management.
Relationships are of key importance in the Latin culture and the boss and subordinates work hard in order to foster a relationship based on trust and respect for the personal dignity.
Initial business meetings will be formal but gradually the future meetings will tend to become more informal.
Hurry is a word Brazilians don’t like.
Brazilians see time as something outside their control.
Some Business Traits:
DOING BUSINESS 2009 DATA FOR SELECTED ECONOMIES (Out of 181 countries)
ADVANTAGES OF DOING BUSINESS IN BRAZIL:-
The dynamics of the Brazilian economy are impressive to more demanding investors and consumers.
Brazil borders almost all the South America countries, except Chile and Ecuador.
The Brazilian economy presents a sustainable and strong growth. The Brazilian GDP growth rate reached 5.3 per cent in 2007, with an
References: www.worldbusinesscentre.com Doing Business 2009 Data by World Bank. Deptt. Of Economy, BRAZIL- FACT SHEET 2008 PDF