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Investing in South Africa - Term Paper Example

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The paper concerns the country of South Africa which is ranked 34th among the listed 183 countries around the economies in Doing business in the year 2011. The Oxford business Group claims that the country boasts an attractive environment for investment possibilities…
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Investing in South Africa
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Download file to see previous pages The report includes an extensive analysis of the automotive as well as the steel sectors. These sectors are the spearhead for further economic transformation (The International Bank for Reconstruction and Development, 5-6). The report also considered the extensive up gradation in transport facilities and secure modes of power supply. The country is now focused on handling the challenge of rising demand. The mining industry of the country is under the spotlight as new markets are emerging which posits the opportunity to trade. The emerging markets promise further growth in iron ore. The country recovered fairly well after e contraction in the year 2009 and such kind of recovery can be matched by very few economies. The focus now has diverted to the sectors that provide multiplier effects and initiatives have been taken to increase the output of the productive sectors. Unemployment has been a subject of concern for the country but fails to posit a serious impact on the economy. The country is following the policy of maintaining political stability and is on the way of providing good business environment along with rich natural resources (SAinfo reporter and BuaNews).

Cultural Aspects
The central unit of society is formed by families. The nuclear families are paramount to the existence of the individual. The family serves the purpose to support the community both financially and emotionally. The concept of time differs between black and white Africans. The white Africans try to keep the pace according to time while the black Africans are usually believed to complete the work at a slower pace. The cultural ancestry impacts on the differences in communication styles. The Africans who have the potential to speak English generally maintains a reserve and conservative mannerism with the objective to avoid conflict. The Africans from other backgrounds usually maintain a direct and explicit approach to communication. The objective of them is, to be honest, and forthright. This implicates that they will not hesitate to refuse anything in public. In order to initiate business deals successfully, it is important to be aware of the styles of the different communities. The abundant availability of natural resources has paved the way for the country to become the largest developed economy among the countries of Africa (Willumsen, Moene, and Hoyland, 1-2). The per capita GDP has made the country as one of the top 50 wealthiest nations of the world. The country has got immense potential from the investment point of view with one of the emerging market economies around the globe. The greeting styles generally tend to vary depending on the ethnic heritage of the country. The Africans who can speak English generally follows a formal and polite mannerism to address someone. The black Africans generally follow an informal approach to greet someone who is unknown to them. The initial gesture that is most common in this part of the world is a formal handshake. However, for the female associates, the trend is to wait for the female to offer a shake of hands first. For long term business success it is important to build relationship and networking. The residents generally prefer a win-win situation where both the associated parties tend to gain something for the business negotiations. So it is advised to avoid confrontation and aggressive bartering over prices. The aim of the negotiation procedures is to reach a general consensus. ...Download file to see next pages Read More
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