The Impact of Political Stability, Economic Strength, Legal Framework, and Cultural Values on Business Practices in Germany
1. Introduction
This is a short paragraph that includes some general information about the country including its population, geographical region and so on.
2. Political System
This section focuses on the political system of the country and includes information about (but it’s not limited to): a brief history of the government and political system (structure) of the country, changes that have accrued to the government system in modern history, their current political regime, and how the country and its political system has been ranked in terms of various indices including (but is not limited to) democracy index, corruption index, various individual freedoms (e.g., freedom of speech index), human development, and so on.
3. Economic System
This section focuses on the economic system of the country and includes (but is not limited to) information about: the type of the current economic system (i.e., free market, command economy, or mixed economy), the size of the economy (GDP) and its standing among other countries, GDP adjusted for PPP and its per capita, their currency and its strength, inflation rate and interest rate, unemployment rate, the amount of FDI (inward, outward, and stock of FDI for the country), other major economic indices such as level of entrepreneurship (global entrepreneurship index), major industries and economic sectors of the country, the country’s major exports and imports, the country’s major trade partners, level of privatization and deregulation of the economy and so on.
4. Legal System
This section focuses on the legal system of the country and includes (but is not limited to) information about: the type of country’s legal system (civil, common, theocratic), the strength and level of protection that legal system offers to foreign investors, the availability and level of development of the business law pertaining to contract laws, property right protection laws, intellectual property right protection, product safety and liability laws, and whether the country is a signatory of international regulatory conventions that are related to international business such as United Nations Convention in Contracts for the International Sales of Goods.
5. Culture
Use Hofstede framework to analyze the national culture of the country. Through the following link you can see how the country has scored in every cultural dimension of Hofstede’s framework: https://www.hofstede-insights.com/product/compare-countries/
After accessing that information, report it in this section and describe how such Hofstede’s values may impact business practices in your selected country. For instance, if the country scores high on uncertainty avoidance, how does that impact business practices in that country? Do the same analysis for the major four cultural dimensions: Individualism/Collectivism; Power Distance; Uncertainty Avoidance; Masculinity/Femininity.
6. Country Attractiveness Summary
In this section, using the information that you found in your research on the above sections, explain the major (political, economic, legal, and cultural) benefits and opportunities, costs, and risks associated with foreign investment in your country under their specified headings below as they apply.
6.1. Benefits and opportunities
1. 2. 3. 4. 5. 6. 6.1. 6.1.1. Political
6.1.2. Economic
6.1.3. Legal
6.1.4. Cultural
6.2. Risks and Costs
6.2.1. Political
6.2.2. Economic
6.2.3. Legal
6.2.4. Cultural
The Impact of Political Stability, Economic Strength, Legal Framework, and Cultural Values on Business Practices in Germany
Germany
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Germany
Germany is one of the largest countries in Europe by land mass; this has largely contributed to its popularity, making it one of the most known countries of the Nordic region. Besides being populous, the country enjoys the largest economy in Europe, which is mainly driven by three sectors: agriculture, service, and industry sectors. The country's large portion of the population is middle-income and is largely contributed by the service, industry, and agriculture sectors. Ever since its unification in the 20th century, the country has seen numerous politically motivated events that have seen the country be plunged into the First and Second World Wars, with the latter leaving the country divided between two political ideologies. The focus of this paper is to determine how culture, legislation, economic and political systems have impacted the conduction of business in the country.
Political System
The country is ranked as one of the most politically stable and free of violence countries in the world, with a percentile of 70%. The country has a corruption index of 80%, making it among corruption-free countries in the world. This is largely due to the development of a federal government that has a federal president and functions as a ceremonial figurehead for the 16 states that make up the country (Deutschland.de, 2020). The parliamentary system, which is run by the chancellor and is in charge of the daily activities of the country, makes the position of the chancellor superior compared to that of the federal president. But the two houses act as countermeasures to each other.
Economic System
The country is considered the largest economy in Europe and is considered fourth in the world by nominal GDP. The country is considered to be an advanced country, with a GDP of more than $4 trillion. Some of the country's biggest earners by sector are the service industry, which comprises more than 60%, followed by industry, with more than 30%, and agriculture. As of 2022, the GDP growth was at 1.8%, and Human development index of 0.9, which is relatively high. The country is big on some industries, such as chemicals, automobiles, electronics, and machinery. However, the country is among one of the largest importers; as of 2022, the country imported more than $1 trillion of goods. However, its export sector is equally impressive, with more than $1.5 trillion of goods being exported in 2022. The European Union and member countries make up the biggest group of partners that Germany interacts with for trade purposes.
Legal System
The judicial system of Germany is responsible for interpreting and applying law. Unlike other systems where the judges play the role of a neutral party, they are involved in the investigation of a case (“The German Federal Government,” 2021). Since the judicial system is in charge of interpreting the laws and regulations, it has been marked with a score of 79.7 for ease of doing business. The global entrepreneurship index is determined by calculating some factors, such as the legal system and its impact on the economy, with the country scoring 66.7, making it one of the best countries to invest in. The country abides by the rules that govern the European Union on its member states' trading. The country is a member of the World Trade Organization as part of the European Union requirements.
Culture
According to Hofstede, the country ranks the lowest in power distance, an element used to determine values. The concept of power distance argues that people in a certain society understand they are not equal, which dictates some of the ordinary aspects, such as how people conduct business (Hofstede Insights, 2023). The government is largely supported by a middle-income population, which makes the power distance relatively low. The society is an individualistic type, as most families are comprised of parents and children. The society is masculine, as being competitive compared to having the entire society achieve equally. Furthermore, on the scale of uncertainty avoidance, the country avoids the ambiguity of the unknown (Hofstede Insights, 2023). On long-term orientation, the country scores high, which indicates that, as a society, they are concerned about their future; this helps make sense of the type of investment one should make. On the indulgence scale, the country ranks low; as a society, indulging oneself they feel it to be wrong.
Country Attractiveness Summary: Benefits and Opportunities
The country is politically stable, subsequently resulting in a stable environment for investments and doing business. As the largest economy on the continent, the country has some of the largest banking institutions, which makes it easier to conduct business (Central Intelligence Agency, 2023). The rules and regulations that have been passed in the federal parliament are meant to safeguard businesses. One of the aspects of the culture is the high score in power distance, which argues that most people are middle-incomers; as such, they have a high spending culture.
Risks and Costs
The country has several political parties, and some of them have more resounding support than others; this is detrimental when making business decisions as a change in the political arena may influence the business world. The country is the largest economy in the continent and thus commits many organizations, which may become a hindrance to investment. The rules and regulations that are critical for running the organizations that the country belongs to have an impact when it comes to how investments are approached in the country, which often results in the hindrance of investment opportunities. The country is very individualistic, which impacts how the market will react. Whereas it would be easier to predict the market in societies that tend to rely on each other, it would be difficult to determine the German market.
Germany has grown to become one of the largest economies from a simple background of unification to conquering the world. However, the success of the country can be more than just the geographic positioning of the country. The country has witnessed relative political calmness since the falling of the Berlin Wall, which can be argued to be a direct result of political, economic, legal, and cultural factors that have brought success.
References
Central Intelligence Agency. (2023). Germany - The World Factbook. Www.cia.gov. https://www.cia.gov/the-world-factbook/countries/germany/
Deutschland.de. (2020, September 29). Federal States of Germany. Deutschland.de. https://www.deutschland.de/en/topic/politics/germany-europe/federal-states
Hofstede Insights. (2023). Country Comparison Tool. Www.hofstede-Insights.com. https://www.hofstede-insights.com/country-comparison-tool?countries=germany
The German Federal Government. (2021, December 15). Deutschland.de. https://www.deutschland.de/en/topic/politics/the-german-federal-government
Questions also answered
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Unit 2 Discussion: Probability and Probability Distributions
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Pirated Software
Pirated software is the use of software that allows others to copy, distribute, and operate other programs. Pirated software is an ethical issue due to digital theft and denying another individual who has rightfully designed a life out of software development (Cascavilla et al., 2021). The consequences of using pirated software are that other software developers have been led to legal risks owing to the respective demands of their users. This paper focuses on determining how pirated software is an ethical issue when marketing connected devices.
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Part I: Comprehension
Introduction
· Yes, the authors are qualified as all of them are scholars and teach at various universities, such as the University of West Georgia and the University of Nevada in the Department of Nursing and psychology, which are relevant to the study.
Germany
Germany is one of the largest countries in Europe by land mass; this has largely contributed to its popularity, making it one of the most known countries of the Nordic region. Besides being populous, the country enjoys the largest economy in Europe, which is mainly driven by three sectors: agriculture, service, and industry sectors. The country's large portion of the population is middle-income and is largely contributed by the service, industry, and agriculture sectors. Ever since its unification in the 20th century, the country has seen numerous politically motivated events that have seen the country be plunged into the First and Second World Wars, with the latter leaving the country divided between two political ideologies. The focus of this paper is to determine how culture, legislation, economic and political systems have impacted the conduction of business in the country.
The manager should not be allowed to disclose the information of a tenant as the latter has a reasonable expectation of privacy unless the information is relevant in regard to the safety of other tenants (Porro, 2019). Thus, the manager should ensure that other tenants follow through with the directive and not have their indifferences determine their tenancy. In summation, the manager should withhold the information to prevent others from having access to it and should accord the new applicant as a potential tenant who has no bearing in regard to political indifferences that have caused a rift between the two parties.
Policy topic: GUN CONTROL
Directions: Do some research and find 3 existing or proposed recent U.S. policies (laws, statutes, etc.) published or proposed on this topic. Do not describe policies proposed/implemented prior to 2000. In addition to a brief description of the policy, you will also indicate the stance (for or against), level of implementation, and provide a link to the actual policy.
Policy 1
Policy name (Precise bill/policy/legislation name): Bipartisan Safer Communities Act (BSCA) gun safety bill.
Policy link (Include a direct link to the policy. Do not use Wikipedia, news articles, etc. Go directly to the source for information): https://www.whitehouse.gov/briefing-room/statements-releases/2023/03/14/fact-sheet-president-biden-announces-new-actions-to-reduce-gun-violence-and-make-our-communities-safer/
A multicultural workplace has become a trend rather than an exception in many organizations. In the worldwide community where every organization strives to contribute, and this stage of profound globalization is unfolding. Organizations that do not adapt to diversity in its workplace will have difficulty staying competitive (Tamn et al., 2019). Over the past two decades, companies have appreciated employee diversity as crucial to economic sustainability (Shah et al., 2021). Diversity at the workspace is of priceless value, because it coalesces numerous latent capabilities and experiences, ultimately optimizing efficiency and effectiveness of the whole organization (Inegbedion and his colleagues, 2020).
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