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Panama. Presented By: Kadell James Carl Krimminger Monica Washington. Panama. Panamanian Flag. Coat of Arms. Panama is often called the Funnel of World Commerce connecting North & South America. It’s where cultures come together & the America’s meet. Demographics.

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panama

Panama

Presented By:

Kadell James

Carl Krimminger

Monica Washington

slide2

Panama

Panamanian Flag

Coat of Arms

slide3

Panama is often called the Funnel of World Commerce connecting North & South America

It’s where cultures come together & the America’s meet

demographics
Demographics
  • Capital: Panama City
  • Official Language: Spanish
  • Government: Constitutional Democracy
  • In 2008, population est. @ 3,309,679.
  • Capital: Panama City Pop. 451,000
  • Area: 29,157 sq mi
  • Water about 2.9% of the total area
  • GDP in 2008 $42.446 billion
  • Currency: Balboa and US dollars
ethnic groups
Ethnic Groups
  • 58.1% Mestizo14% Black and Mulatto6.7% Amerindian8.6% White5.5% Asian7.1% other (2000)
  • Religions:
    • Roman Catholic 85%
    • Protestant 15%
slide10

About 38% of the land is part of the Rain Forest. The Panama Canal is 50 miles long, dividing the country into eastern & western regions. And the once American territory was 5 miles on each side of the canal.

The whole country is a little smaller than South Carolina surface wise.

slide14

Occupations

Panama Firemen marching in a parade

Shop owner – most were Hindu descent

Tugboat being repaired in dry dock

power distance index
Power Distance Index
  • Panama: High PDI
    • inequalities of power and wealth have been allowed to grow within the society
  • U.S: Low PDI
    • society de-emphasizes the differences between citizen\'s power and wealth
  • Highest PDI of all Latin American countries
how pdi effects business
How PDI effects business…

Source: http://www.mindtools.com/pages/article/newLDR_66.htm

individualism vs collectivism
Individualism vs. Collectivism
  • Panama: Collective
    • Strong group relationship
    • Loyalty very important
  • U.S: Individualistic
    • Individuals and their immediate family
how individualism collectivism effects business
How individualism/collectivism effects business…..

Source: http://www.mindtools.com/pages/article/newLDR_66.htm

masculinity vs femininity
Masculinity vs. Femininity
  • Panama: Masculine/Feminine
    • Mixture of aggressiveness and sensitivity
  • U.S: Masculine
    • Aggressiveness and assertiveness
how masculinity femininity effects business
How Masculinity/Femininity effects business…

(Panama)

Source: http://www.mindtools.com/pages/article/newLDR_66.htm

uncertainty avoidance
Uncertainty Avoidance
  • Panama: High UAI
    • Low tolerance for uncertainty and ambiguity
  • Reasons
    • 94% Roman Catholic
    • Attitude: “There can only be one Truth and we have it”
  • U.S: Average UAI
    • More accepting of change & opinions
how uncertainty avoidance effects business
How Uncertainty Avoidance effects business…

Source: http://www.mindtools.com/pages/article/newLDR_66.htm

final business tips
Final Business Tips….
  • Men’s Dress: conservative suits
  • Women’s Dress: non-revealing dress or shirt and

blouse

  • Business cards: Spanish & English
  • Dining: host at one end, guest of honor at other end
  • Begin conversations with “small talk”
  • Good conversation topics: family, sports, hobbies
  • Bad conversation topics: race problems, Canal Zone,

politics

why come panama
Why come Panama?
  • Open door policy on foreign investment
  • Economy based in U.S. dollar
  • Low inflation rate
  • No foreign exchange risk
factors that attract business
Factors that Attract Business
  • Government policies and ideas
  • Colon Free Zone
  • Panama Canal
  • Tax Incentives and Labor Cost
government
Government
  • Democratically operated
    • Lends itself to capitalism
  • President Torroijos
    • Plans to expand Panama Canal and increase economic development
  • Trade Liberization Program
    • Decreased tariff ceiling
colon free trade zone
Colon Free Trade Zone
  • Re-Exports a wide variety of merchandise across Latin America and various areas
  • No tariffs and quotas in “free zone”
    • no sales tax
    • no production tax
    • exemption on income derived from abroad
    • no tax duty on imports to re-exports from the free zone to foreign countries
panama canal
Panama Canal
  • Currently undergoing improvements to area that are estimated at about $1 billion
  • Opportunity for hotels and tourism
  • Business possibilities from canal expansion
    • Transportation systems
    • Ship owners, repairs, etc.
    • New residential construction
tax incentives and labor
Tax Incentives and Labor
  • Minimum Wage $1.22
    • $350 average monthly salary
  • Labor force of 961,403
  • Investment Stability Law
  • Special Tax Incentives for Tourism
    • 100% tax exemption on income and property for 15 years
references
References

Hofstede, Geert (2005). Cultures and Organizations: Software of the Mind. 2nd ed.

Mitchell, Charles (2002). A Short Course in International Business Culture. 3rd ed.

http://www.businesspanama.com

http://www.cyborlink.com/besite/panama.htm

http://www.geert-hofstede.com/hofstede_panama.shtml

http://www.geert-hofstede.com/hofstede_united_states.shtml

http://www.mindtools.com/pages/article/newLDR_66.htm

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