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International Business Management: Country Profiling - Research Paper Example

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A writer of the paper "International Business Management: Country Profiling" discusses the point that the legal system under the guidance of Federative Republic has been noted to be quite weaker as compared to other leading nations in the country. …
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International Business Management: Country Profiling
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International Business Management: Country Profiling Executive Summary Brazil is regarded as one of the biggest nations in the continent of South America. In relation to economic factors, it has been viewed that the financial condition of Brazil is enhancing due to rising momentum of FDI in different operational sectors in the nation. With regard to political along with legal aspects, Federative Republic sort of government prevails in Brazil. The legal system under the guidance of Federative Republic has been noted to be quite weaker as compared to other leading nations in the country. Relating to FDI finance, it has been apparently observed that the factors like massive population and increased level of sophisticated business centres have ultimately supported the country to attract the foreign investors in terms of FDI by a greater level. It can be stated that greater finance is readily accessible for Brazil due to its possession of the aforementioned factors. In relation to socio-cultural factors, Brazil is regarded as a multi-linguistic nation because of the presence of the individuals belonging to diverse nationalities in the country. Thus, it can be predicted that these significant factors would ultimately impose optimistic impacts upon the Australian based organisation named Endless Wave intending to penetrate into the business markets of Brazil for the purpose of making further business expansion and enhance profitability. Introduction Company Profile Endless Wave was established in the early 1980s dealing with surfboard and apparel related products. The organisation intends to manufacture superior quality of surfing products and related apparels and to deliver to its huge base of customers with the intention of accomplishing its predetermined business targets. The organisation has been viewed to be successfully conducting its different operational functions particularly in the business market of Australia resulting in acquiring a market share of 8%. The organisation is intending to penetrate into the market of Brazil for the purpose of expanding its business especially to the region of South America. Scope/Parameters of the Report The prime objective behind the preparation of this report is to examine the macro environment of Brazil by taking into concern the significant aspects like financial, political, socio or cultural and legal factors. One of the vital parameters of the report has been noted to be the interest of the Managing Director of Endless Wave towards taking the business of the organisation in Brazil. On the basis of their recent success with internationalisation, the Managing Director possesses a greater level of interest in developing the business of the organisation in Brazil because Brazil is duly regarded as one of the biggest emerging economies particularly in the continent of South America. Methodology Used In order to obtain valuable information for this particular report, a qualitative approach of research on the basis of secondary sources has been executed. In this similar context, governmental websites, academic journals and industrial reports as form of secondary sources have been considered with the motive of acquiring valuable data concerning macro environment of Brazil. The aforementioned secondary sources would eventually provide a superior understanding about the current macro environment prevailing in Brazil supporting Endless Wave to expand its business in this particular region of South America. Limitations of the Report In relation to the report concerning analysing the macro environment of Brazil, one of the limitations of this report could be the unavailability of updated information that are acquired from the aforesaid sources based on secondary data. Furthermore, the other limitation of the report could be the unintentional misunderstanding of empirical analysis in terms of determining the socio-economic conditions prevailing in Brazil. This misconduct might become quite problematic in recognising the key values, traditions and the way of business that is performed in Brazil by a considerable level. Economic Factors Economic Policy of Brazil Relating to financial factors, the different economic policies of Brazil have been viewed to be enhancing the effectiveness of the financial business markets, raising the standards of infrastructure provisions and mounting the education quality at both secondary along with primary levels. Furthermore, the other imperative policies introduced by Brazilian government are fostering the accretion of human capital and discarding disincentives towards the participation of labour force especially in different social programs (OECD, 2011). Specially mentioning, lessening distortions particularly in the entire tax system or tax cuts is also regarded as one of the decisive financial policies of the Brazilian government (The Economist Newspaper Limited, 2013). GDP & GDP Growth (Trend) In the year 2012, the Gross Domestic Product (GDP) of Brazil stood at US$ 2,233 trillion supporting the country to become the seventh richest economy throughout the globe. It has been apparently observed that the country remained focused upon developing its various important aspects that include transport infrastructures, financial systems and urban along with social advancements among others. However, it has been viewed that the economy of Brazil in terms of GDP slowed down extensively over the years 2011 and 2012. In this regard, the 7.5% GDP growth had lessened to 2.7% in the year 2011 and lessened to 0.9% in the year 2012 (The World Bank Group, 2013). The GDP growth trend of Brazil can be better comprehended with the help of the following graphical representation: Source: (Trading Economics, 2012) Per Capita Income (Trend) The per capital income of Brazil has been noted to be increasing in recent times as compared to the preceding years. It is projected that the per capita income of Brazil would develop drastically in future resulting in enhanced financial growth of the country by a greater level. It has been apparently observed in this similar circumstance that the per capita income of Brazil was amounted to be US$12,000 in the year 2012 in comparison with the previous years i.e. 2011 and 2010 which stood at US$12,000 and US$11,700 respectively (CIA, n.d.). The trend concerning per capita income of Brazil can be better explained with the help of the following pictorial illustration: Source: (The World Bank Group, 2013) CPI (Trend) The chief constituents of Consumer Price Index (CPI) in Brazil have been recognised to be real estate, clothing, food, transport, tobacco and communication among others. In this similar concern, it has been apparently observed that the significant concern of CPI in Brazil had risen to 3633.44 Index Points in the year 2012 as compared to the previous year i.e. 2011 which stood at 3602.42 Index Points. The CPI in Brazil generally measures the alterations in the charges that are paid by the customers while buying different products or availing any service (Trading Economics, 2012). The CPI trend in Brazil can be better explained with the help of the following diagrammatical representation: Source: (Trading Economics, 2012) Inflation (Trend) The inflation rate was duly recorded at 6.59 percent in Brazil. It has been viewed that the inflation rate depicts an increasing trend in recent times in comparison with the preceding years. The inflation rate in Brazil often signifies the rate of inflation that is primarily based upon the aspect of CPI. A pictorial illustration is hereby depicted in order to comprehend the inflation trend in Brazil: Source: (Trading Economics, 2012) Unemployment (Trend) The unemployment rate in Brazil had risen to 5.60 percent in February’2013 as compared to the preceding month i.e. January’2013 wherein the rate stood at 5.40 percent. In this similar concern, it has been viewed that there has been a mixed trend of unemployment rates in Brazil. This can be better comprehended with the help of the following graphical representation: Source: (Trading Economics, 2012) Infrastructure The different infrastructures like enhanced transportation along with communication systems, effectual exploitation of valuable resources, efficient military services and standardised energy systems have eventually facilitated Brazil to develop into one of the richest economies throughout the globe (Graham & Marvin, 2002). Tariffs The imports of different products that are broadly conducted in Brazil ultimately support the nation towards experiencing lower tariffs and most vitally lessening non-tariff barriers at large. With these significant facets, the potency of the Brazilian currency raised extensively in relation to the Dollar (USTR, n.d.). Current Account (Trend) A deficit in current account has been viewed in Brazil. In this similar concern, a discrepancy of USD 1729.30 million has been recorded in Brazil’s current account in February’ 2013. This can be better explained with the help of the following pictorial illustration: Source: (Trading Economics, 2012) Trading Partners and Key Imports and Exports The major trading partners of Brazil have been identified to be the United States, Argentina, Netherlands, Germany and most importantly China (Whittle, 1998). The key imports of Brazil are oil, electronics, machinery, automotive parts and chemical products. On the other hand, the chief exports of Brazil include coffee, soybeans, footwear and transport equipments (Azevedo & et. al., 2004). Trade Agreements In relation to determining the trade agreements conducted by Brazil, it has been viewed that European Union (EU) was the initial trading partner of Brazil aiming towards developing the economy of the country by a greater level. In this regard, the EU has been considered to be among the largest foreign investors particularly in Brazil making substantial investments in numerous segments of the Brazilian economy (European Commission, 2012). Political Type of Government In relation to political factors, federal republic sort of government has been noted to be largely prevailing in Brazil. In this similar context, the notion of federal republic denotes a particular state wherein the absolute powers of the central government are duly limited and the component parts like states, provinces or colonies maintain a level of self-government. Moreover, relating to the governmental type of federal republic, a decisive autonomous supremacy is retained by the voters who select their governmental representatives (IndexMundi, 2013). Government Structure and How It Operates In order to determine the government structure of Brazil, it has been apparently observed that the country is based upon federal republic sort of government composing 26 states along with a particular federal district possessing three government tiers. These states possess their own respective government structure while performing their different administrative functions. The Brazilian government generally operates its different administrative functions with the help of various municipal councils that hold the responsibility of carrying out the administrative functions effectually (Australian Government, n.d.). International Relations with Other Countries The financial condition of Brazil has been viewed to be speedily increasing which is ultimately resulting in supporting the country towards lessening inflation, stabilising its currency and most vitally attracting foreign investments by a considerable level. This can be due to the reason of establishing along with conserving better affiliations with different nations and regions like the US, Argentina, Germany and the European Union among others. Brazil has become a part of the BRICS group by forming as well as preserving superior international associations with the countries like Russia, China, India and South Africa (Hanson, 2012). Political Risk Associated With Endless Wave in Brazil The business market of Brazil is typically viewed to be one of the dynamic markets throughout the globe due to its adoption along with the implementation of various effective strategies relating towards state-led advancement and discarding of import-substitution associated policies. However, the country has currently been facing various serious problems like racial disparity, uneven wealth distribution, greater unemployment rates and crime. In this regard, Endless Wave might face certain crucial political risks while penetrating into the business market of Brazil. The different political risks that might get associated with the organisation in Brazil encompass restrictions in conducting foreign trade, strict legal regulations concerning human rights along with culture and weaker access towards knowledgeable workers (Bertsch & Ondracek, 2010). Level of Corruption The corruption level in Brazil has been viewed to exist in different segments like in the government as well as in the private sector. In this similar context, it can broadly be affirmed that the corruption level which currently exists in different sectors in Brazil would eventually increase the probable chances of affecting the competitiveness of the nation and its capability towards attracting foreign investments at large. On the basis of the above discussion, it can broadly be affirmed that the different companies like Endless Wave might face certain crucial problems while performing their different operational functions particularly in the business market of Brazil due to entrenched corruption level prevailing in the nation (Jennings, 2008). Legal Legal System and How It Works The legal scheme of Brazil typically follows the traditional values of Civil Law. It has been apparently observed that the legislation as well as the codes relating to Brazilian legal system is principally enacted by the powers held by the federal legislature and the states along with the municipalities (Reichmann, 1999). After acquiring a brief idea about the legal system that is currently prevailing in Brazil, it can be highlighted that the legal structure of Brazil works quite slowly. It has been viewed in this regard that a number of lawful cases run for several years and they are not resolved effectively in stipulated time period especially in Brazil (Usa, 2009). This particular scenario might impose unfavourable impact upon the business or operational performance of Endless Wave in the business markets of Brazil by a significant level. Government Rules and Regulations for Establishing a Foreign Business One of the important governmental rules and regulations for establishing a business for organisations like Endless Wave intending to enter into the business market of Brazil is to submit an application to the Brazilian government concerning registering a new business. In order to smoothly conduct the registration process, the organisation should assign an experienced representative who must be an inhabitant of Brazil. The other decisive governmental rule or regulation for establishing a foreign business in the region of Brazil is that the corporation should comply with the laws relating to intellectual property which has been formulated by the Brazilian government only after the registration procedure is duly completed (James, 2011). The organisation i.e. Endless Wave would have to follow these rules or regulations strictly that are formulated by the Brazilian government with the intention of conducting its business effectively in Brazil. Ownership of Business, Land and Office In relation to determining the business ownership in Brazil, it has been viewed that there pertains the imposition of certain crucial limitations especially upon the organisations like Endless Wave intending to enter into the business market of Brazil. In this regard, one of the limitations is restricting the foreign investments particularly in the sectors like communication, news media, transportation and public utilities. It is worth mentioning that the foreign enterprises similar to Endless Wave desiring to conduct business in Brazil might possess their own land and office without having much restriction from the Brazilian government (Ernst & Young Terco, 2011). Labour/Employment Law The Brazilian labour or employment laws have been fundamentally recognised to be duly administered by the Consolidacao das Leis do Trabalho (CLT) in association with the Federal Constitution of 1988. This particular CLT offers lawful standards in different areas like working hours, employment contracts, health regulations of the workforce, workplace safety, safeguard for the working staff and union organisation. Moreover, the recently developed policies deliver legal standards concerning other imperative areas namely retirement benefits, unemployment insurance, overtime compensation, profit sharing, maternity leaves and requirements of annual vacation among others (Wang, 2012). FDI History of FDI in Brazil Brazil is fundamentally regarded as one of the most populous countries throughout the globe which provides greater business market opportunities with mounting skilled personnel who are readily accessible at lower cost. These significant aspects of the country have ultimately attracted foreign investments in different sectors like gas along with oil and bauxite and iron reserves among others. Relating to FDI, it has been viewed that both inflow as well as outflow amounts normally arrive from different foreign business enterprises or corporations belonging to diverse nations that comprise the US, China, Argentina and Germany among others. Though there prevail a strong FDI approach in Brazil, it can be affirmed that the industry access for Endless Wave would be quite beneficial for the organisation in terms of raising market share and enhancing profitability. One of the Brazilian governmental rules or regulations concerning FDI is that the foreign organisations or corporations like Endless Wave must form a local ancillary particularly in Brazil after availing a strong authorisation from the local government. There lay the presence of government incentives or special economic zones (SEZs) in Brazil that cover a wide assortment of specific zone categories that encompass Export Processing Zones (EPZs) and Free Trade Zones (FTZs) (Bharat Book Bureau, 2012). Finance In relation to finance factors, the banking system of Brazil has been viewed to be a modernised one that facilitates the foreigners to make withdrawal of their respective local currencies effectually. As a matter of fact, the banking system of Brazil is quite sound and most vitally well-regulated as well as driven by formalised possessing regarding the capacity to mitigate from experiencing the position of a financial downturn. The different sorts of banks that are currently prevailing in Brazil encompass Central Bank, National Economic and Bank (BNDES), the Federal Savings Bank, State bank and different private banks (The World Bank, 2007). Access to Finance (Refers To Foreign Company’s Access to Finance in Brazil) The access to finance especially the access of foreign companies to finance in Brazil has been noted to be comparatively stable in recent times as compared to early years. It is worth mentioning that the broader geographic modifications particularly in the supply of different banking services have eventually made the country to remain stable concerning the access of foreign corporations or organisations to finance in Brazil (CIA, n.d.). Interest Charges The charges relating to deposit, lending, real and risk premium interests have been identified to be in a decreasing trend in Brazil in recent days in comparison with previous years. From a broader perspective, it can be affirmed that the government of Brazil might take the initiative of adopting along with offering lower interest charges with the intention of attracting foreign investments and ultimately developing the Brazilian economy at large (Trading Economics, 2012). Type of Exchange Rate System and Currency (Trend Data) After experiencing a strong financial crisis in the year 1999, it has been apparently observed that Brazilian government adopted along with executed a sort of flexible based system of exchange rate which is united with inflation targeting. This system of exchange rate is viewed to be effectively executed by the Central Bank of Brazil in order to make rigorous exploitation of interventions relating to foreign reserves along with interests resulting in limiting the unsteadiness of the exchange rate (Holland & Scholar, n.d.). Brazilian Real is regarded to be the currency of Brazil. In order to determine the currency trend data, it has been apparently observed that the Brazilian currency has become quite weaker since the year 2009 due to the interventions of Central Bank in aiding the manufacturers towards lessening borrowing costs (Leonel & Coppola, 2012). Repatriation of Profit Regulations In relation to analysing repatriation concerning profit regulations, it has been viewed that profits or earnings in Brazil are exempted from withdrawn income tax. It has also been noted in this similar circumstance that there does not pertain such restrictions or limitations in Brazil concerning profit distribution along with their remittance in overseas nations. The significant concern of repatriation particularly relating to foreign capital is accordingly registered with the Central Bank of Brazil in which capital profits are subjected to nearly 15 percent withdrawal of income tax (CIA, n.d.). Taxation Rules Brazil imposes a mixed impact upon developing its economy by adopting as well as executing effective taxation rules in the country that must be followed effectually. In this similar context, it has been viewed that losses are normally carried forward in an indefinite manner. It is worth mentioning that in Brazil, depreciation is subtracted by executing the method of straight line. Relation to the taxation rules that prevail in Brazil, it has been apparently observed that the subtractions made in personal credits along with education expenses are deductible up to a limit (Johnson, 2005). Socio-cultural Key Values and Traditions With regard to examining the key values and traditions particularly in Brazil, it can be stated that Brazil possesses the image of a multicultural identity due to its active involvement in performing different cultural activities like crafts, music, architecture, cuisine and festivals. It has been apparently observed in this similar background that the country has been listed by UNESCO (United Nations Educational, Scientific and Cultural Organisation) World Heritage Site due to its fascinating culture along with traditions (Universia, n.d.). How Business is Done in Brazil There pertain certain significant aspects that have ultimately facilitated Brazil to become a commercial hub throughout the globe. In this regard, the aspects comprise enormous population, attractive geographic location and dynamic mineral wealth. It has been apparently observed that in Brazil, business is done by generating better association with the local people. Moreover, apart from forming as well as preserving superior affiliation with the local people, business in Brazil is normally conducted through emphasising upon the behavioural attitudes of the Brazilian residents or individuals (Universia, n.d.). Hofstede’s Dimensions on Brazil in Comparison to Australia According to 5-D Model of Hofstede, there pertain significant differences between Brazil and Australia. One of the models relating to power distance, it has been viewed that Brazil scores much high as compared to Australia. This signifies that Brazil reflects a particular society in which prevailing hierarchies must be respected and disparities amid people are duly acceptable. Regarding another aspect of the model i.e. masculinity or femininity, Brazil scores quite low in comparison to Australia. This denotes that the societal values in Brazil are much caring for different individuals instead of driving achievement, success and competition (The Hofstede Centre, n.d.). This can be better understood with the help of the following pictorial illustration: Source: (The Hofstede Centre, n.d.) Holidays There are numerous holidays that can be noted in Brazil resulting in malfunctioning towards conducting business in the nation. In this similar context, the major holidays of the country comprise New Year’s Day, Carnival, Independence Day, Christmas Day, All Souls Day, Tiradentes Day and Republic Proclamation Day among others (Universia, n.d.). Language and Communication Styles Different sorts of languages such as Spanish, Western, Portuguese and English have been viewed to be prevailing in Brazil. Amongst these languages, Potuguese is the most spoken language in Brazil. In relation to communication styles, it has been apparently observed that Brazil follows a blunt sort of communication style emphasising upon non-verbal gestures to communicate with each other (Emita, 2007). Religion and Social Stratification/Structure of Society Catholicism is regarded to be one of the prime religions particularly in Brazil. In order to determine the social stratification or the structure of society, a collectivist based society has been viewed to be largely prevailing in Brazil. This particular society places especially family at the centre of its social stratification or structure. Specially mentioning, the Brazilian society heavily relies upon forming along with preserving interrelations with different societal members (Communicaid Group Ltd., 2012). Forecast After acquiring a brief idea about the aforementioned aspects that are largely prevailing in Brazil, it can be affirmed from a broader perspective that Brazil would be able to fulfil one of its dreams to become the biggest economies throughout the globe in future. However, by taking into concern certain pertinent economic indicators, it has been forecasted that the financial position of Brazil will get shrunk in terms of GDP in this year i.e. 2013. In this similar concern, it is projected that Brazil would experience unimpressive growth rate of GDP of 1% as compared to the growth of 7.5% that the country experienced in the year 2010. The major reason for this unimpressive growth rate of GDP of Brazil has been viewed to be the weakening value of Brazilian currency i.e. the Brazilian Real. Apart from this critical financial factor, lawful regulations relating to wealth distribution, unemployment rate and racial disparity among others would become quite strict for the purpose of developing the Brazilian economy by a greater level in future. Most significantly, the gaining momentum of FDI in different segments would ultimately support the country to mitigate the problems relating to finance especially in terms of GDP at large (Costas, 2012). Recommendations and Conclusion After acquiring a brief idea about the financial, legal, political, FDI along with finance and socio-cultural aspects that are currently prevailing particularly in Brazil, it can be affirmed in a broader perspective that the Australian based organisation named Endless Wave can smoothly expand its business in Brazil and most significantly can attain its predetermined business targets at large. The organisation needs to follow certain effective guidelines in order to conduct its business in Brazil effectually. In this similar concern, Endless Wave must have to register its business initially in Brazil by taking prior approval from the Brazilian government. After successful completion of the registration procedure, the organisation then needs to develop and maintain a smooth interrelation with the Brazilian individuals along with other foreigners in order to conduct its business and raise business performance by a greater level. Being an Australian based organisation, it is quite obvious that Endless Wave might face certain crucial problems while performing its different business functions in Brazil due to disparities between the cultures of the two nations. In this regard, Endless Wave must have to adjust itself with the prevailing Brazilian culture for the purpose of performing its business effectually especially in the business markets of Brazil. The different attractive facets of Brazilian economy have largely compelled the diverse foreign organisations to penetrate into the business markets of Brazil. These features of the country include augmented level of sophisticated business centres, rising momentum of preferential customer levels especially middle-class, dynamic geographic location and enormous population. It has been apparently observed that the aforementioned aspects are contributing in shaping the Brazilian economy in such a way that it is supporting the nation to become one of the finest business or commercial hubs throughout the globe. Thus, on the basis of the above discussion, it can be concluded that Endless Wave might become quite successful in conducting its different operational functions especially in Brazil by following the regulations and most significantly by reaping significant benefits from the overall situations that are currently prevailing in Brazil. Table of Contents Executive Summary 1 Introduction 2 Economic Factors 3 Political 10 Legal 13 FDI 15 Finance 16 Socio-cultural 18 Forecast 22 Recommendations and Conclusion 24 References 27 References Azevedo, P. F. D. & et. al., 2004. The Food Industry in Brazil and the United States: The Effects of the FTAA on Trade and Investment. BID-INTAL. Australian Government, No Date. Introduction. Brazil Country Brief. Bertsch, A. & Ondracek, J., 2010. The Risks And Rewards Of Doing Business In Brazil: Can Brazil Escape The Fate Of Greece? Mountain Plains Journal of Business and Economics, Opinions and Experiences, Vol. 11, pp. 23-42. Bharat Book Bureau, 2012. Abstract. PESTLE Analysis of Brazil 2012-2017. Costas, R., 2012. Brazil Economy Loses Ground Again. Business. CIA, No Date. The World Factbook. Publications. [Online] Available at: https://www.cia.gov/library/publications/the-world-factbook/geos/br.html [Accessed April 19, 2013]. Communicaid Group Ltd., 2012. Key Concepts. Doing Business in Brazil - Brazilian Social and Business Culture. European Commission, 2012. Brazil. Trade. [Online] Available at: http://ec.europa.eu/trade/creating-opportunities/bilateral-relations/countries/brazil/ [Accessed April 19, 2013]. Ernst & Young Terco, 2011. Foreign Ownership of Business. Doing Business in Brazil. [Online] Available at: http://www.ey.com/Publication/vwLUAssets/Doing_business_in_Brazil_2011/$FILE/Doing%20Business%20in%20Brazil%202011.pdf [Accessed April 19, 2013]. Emita, 2007. Fast Facts. Brazil – People, Culture, Language. Graham, S. & Marvin, S., 2002. Splintering Urbanism: Networked Infrastructures, Technological Mobilities and the Urban Condition. Routledge. Hanson, S., 2012. Introduction. Brazil on the International Stage. Holland, M. & Scholar, V., No Date. Introduction. Monetary and Exchange Rate Policy in Brazil after Inflation Targeting, pp. 1-20. IndexMundi, 2013. Brazil Government Type. Brazil. Jennings, M. M., 2009. Business Ethics: Case Studies and Selected Readings. Cengage Learning. James, G., 2011. Business Basics in Brazil. Journal of Accountancy. Johnson, A., 2005. Brazil Tax, Law and Business Briefing: 2. WorldTrade Executive, Inc. Leonel, J. & Coppola, G., 2012. Brazil Real Weakens to 2 Per Dollar for First Time Since 2009. News. OECD, 2011. Brazil. Country Notes. [Online] Available at: http://www.oecd.org/brazil/49655751.pdf [Accessed April 19, 2013]. Reichmann, R. L., 1999. Race in Contemporary Brazil: From Indifference to Inequality. Penn State Press. The Economist Newspaper Limited, 2013. Sparking Recovery. Economic Policy in Brazil. [Online] Available at: http://www.economist.com/node/21562957 [Accessed April 19, 2013]. Trading Economics, 2012. Brazil GDP Growth Rate. Brazil. [Online] Available at: http://www.tradingeconomics.com/brazil/gdp-growth [Accessed April 19, 2013]. Trading Economics, 2012. Brazil Unemployment Rate. Brazil. [Online] Available at: http://www.tradingeconomics.com/brazil/unemployment-rate [Accessed April 19, 2013]. The World Bank Group, 2013. Brazil Overview. Country. [Online] Available at: http://www.worldbank.org/en/country/brazil/overview [Accessed April 19, 2013]. The World Bank, 2007. Introduction. Brazil: The Industry Structure of Banking Services, pp. 1-61. The Hofstede Centre, No Date. Countries. Brazil. [Online] Available at: http://geert-hofstede.com/brazil.html [Accessed April 20, 2013]. USTR, No Date. 1996 National Trade Estimate-Brazil. Publications. [Online] Available at: http://www.ustr.gov/archive/Document_Library/Reports_Publications/1996/1996_National_Trade_Estimate/1996_National_Trade_Estimate-Brazil.html [Accessed April 19, 2013]. Usa, U. I., 2009. Brazil Company Laws and Regulations Handbook. Int'l Business Publications. Universia, No Date. Culture and Traditions. Live. Whittle, J., 1998. Argentina Business: The Portable Encyclopedia for Doing Business with Argentina. World Trade Press. Wang, A., 2012. Labor Laws in South America: Going Global in Brazil. Global HR. Read More
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