International Business: Cultural, Political, and Economic Research

International Business - cultural, political, and economic research
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1) Introduction: Location
 INCLUDEPICTURE "https://legacy.lib.utexas.edu/maps/africa/safrica_provinces_95.jpg" \* MERGEFORMATINET 

Source:  HYPERLINK "https://legacy.lib.utexas.edu/maps/south_africa.html" https://legacy.lib.utexas.edu/maps/south_africa.html
Africa South Africa is in southern Africa and the most developed country in Sub Saharan Africa and well integrated into the global economy. Even though, the middle-income has experienced low growth in the past few years mainly because of falling commodity price, the economy is diversified and well integrated
2) Sociocultural Environment
Sociocultural Environment: Values and Communication
The power distance score in South Africa is a low 49 and South Africans are more likely to accept the hierarchy structure and uneven distribution of power, while there is high individualistic score where individual achievements are important (Hofstede, 2019). Similarly, there is focus on assertiveness, competitiveness and material reward for success (Hofstede, 2019). However, South Africans tend to avoid uncertainty, confrontations and high-pressure tactics.
Sociocultural Environment: Business Etiquette-
South Africans tend to make eye contact and shake hands when meeting foreigners, but people do not necessarily establish personal relationships to conduct business (Commisceo, 2019b). Nonetheless, building relationships and networking helps to build rapport and mutual trust as people are more likely to conduct business wi...