How to Do Business in Colombia - A Guide

Scholarly Paper aus dem Jahr 2003 im Fachbereich Wirtschaft - Unternehmensführung, Management, Organisation, einseitig bedruckt, Note: Distinction, Bond University Australia, 23 Eintragungen im Literaturverzeichnis, Sprache: Englisch, Abstract: IntroductionColombia is the hinge between North and South America situated on the northwestern end of South America and stretching over an area roughly equal to that of Portugal, Spain, and France put together. Colombia is not only country of origin of world known artists (e.g. Gabriel Garcia Marquez), sportsmen (e.g. Juan Pablo Montoya) and scientists (e.g. Manuel Elkin Patarroyo, who discovered a vaccine against malaria and donated it to WHO). The country with the second biggest population in South America (42 millions) is also economically an important player. It's the world's largest producer of emeralds and orchids, the second largest exporter of flowers in general, the third largest producer of coffee, women's lingerie, reptiles and bananas and it's the fourth largest producer in coal and nickel. Colombia possesses the largest coal reserves, the second largest hydroelectric potential and the fourth largest oil and gas reserves in Latin America.Although Colombia had and still has some problems with political and social stability, violence and drug trafficking, it offers interesting business opportunities to international companies, especially regarding its minerals and energy resources. Colombia underwent a major economic reform in the past decade, which enabled its economy to participate in international trade and investment. This guide, who doesn't claim to be comprehensive, will provide a collection of primary and secondary information about Colombian culture and customs, which are helpful to do business in Colombia and to avoid capital blunders. Important Factors and Cultural DimensionsThe cultural background including basic values and beliefs is essential to understand business related behaviours and decision- making processes of potential business partners. The following paragraphs set out the particularities of the Colombian culture and the values that might have an impact if you as a foreigner do business in Colombia.