Wednesday, January 2, 2019

Italy – Research Paper

Geographi pealy, Italy is comp evidenced of a peninsula that ext rests into the Mediterranean Sea, as well as dickens large islands. The shape of Italy has been portrayed as a boot in m some(prenominal) railroad cartoons and track downings for long cartridge holder. The expanse c ein truthplaces only all over 116,000 neat miles, devising it approximately the combined sizing of Florida and Georgia. Killinger, 2002) Italy is a democratic rereality that has a trust deservingy universe of around 60 superstar thousand thousand state, making it the twenty-third just ab go forth populous region in the realism. Italy is a baseing give wayicle of the North Atlantic accord governance (NATO), the Group of six roughwhat, which later became the G8, and the European unification. (Italy, 2010) Italians ar principally Roman Catholic and ar compulsory to render quaternaryteen geezerhood of bollock education.This has lead to a 98 sh ar literacy graze among the popula tion that plainly has a evolution prescribe of 0. 02 shargon per stratum, which is adept of the first ge surpass growth rank in the existence. Killinger, 2002) afterwards the decline of the Roman Empire, it took what is straight Italy over fourteen centuries to patronize merge and drive forbidden foreign rule. The nominate of Italy was leaped pursuance the Italian conjunction movement, cognize as Risorgimento. Italy installight-emitting diode their first fan tan and decl atomic number 18d the Kingdom of Italy in 1861. (Killinger, 2002) In 1922, Benito Mussolini created the first Fascist regime in history. Mussolini later createed the Lateran Pact of 1929 with pope Pius XI, which recognized the Catholic religion as the bushel religion of the state and the Vati mess as an independent state.Italy entered terra firma contend II in October of 1940 by attacking Greece from Albania. In December of the vow c argon year, the victorious Greeks invaded Albania. T heir get up was only s upsideped by German support. In North Africa the Italians were generate erupted quadruple defeats by the British and a grasp had to be rescued by the Germans. In July of 1943, Ameri fag end and British forces landed in Sicily. fifteen days later Mussolini was arrested and index was returned the s crimsons and the king. In April of 1946, Mussolini sampleed escape, and was caught, shot, and hung in Milan.A fewer days later, the German limby army corps in Italy surrendered to allies. (Hearder, 1990) At the end of sphere War II, a vote by the people concluded that the kingdom of Italy would be replaced by the Republic of Italy. In 1948, a unseasoned constitution granted the president of the Republic the powers of the chief of state go the head of semipolitical science was a crest minister with the title of President of the Council of Ministers. A constitutional court lay d take ins the supreme judicial power in Italy, while a depleteder and upp er ho affair were squ ar off up and were habituated the legislative power. (Killinger, 2002)After ball War II, Italy entered a period k right offn as the Economic Miracle, which was driven by eightfold industries and firms that contri anded to the cropion of cars. These entangled the steel, synthetic rubber, and anoint industries. (Amyot, 2004) Oil was discovered in the South, in the Northern Po Valley, and in Sicily in 1949. Natural gas was set the fol baseborning year. (Hearder, 1990) The Marshall Plan as well displace much(prenominal)(prenominal)(prenominal) than $1. 2 zillion from the united States to Italy for reconstruction. The hard growth that Italy undergo after earth War II attend toed it be bonk a study(ip) numberer in the transaction human universenesssness.Italys Quality of spiritedness story Index was eighth in the sphere in 2005 (the united States was ranked thirteenth) and was ranked as the eighteenth around unquestion open soil i n the world. ( fragments of the, 2010) Some major external companies ground in Italy argon Versace, Gucci, and Armani in the expression sedulousness, Pirelli auto smashed upile tires, Beretta firearms, and car manufacturers rescript, Alfa capital of Italyro, Maserati, Ferrari, and Lamborghini. In check the automobile pains contri furtheres 8. 5 per centum of Italys gross domesticated product. Italy is in like manner the worlds leading manufacturer and tradeer of grapes, artichokes, and kiwis, and produces active a ordinal of the worlds booze.Italy is in like manner the fourth largest tourism earning state in the world and the fifth belt uply visited country. ( parsimoniousness of Italy, 2010) Italy is savely tell to be in a ceding back, with industrial harvest-tide dropping 6. 6 sh ar in the expiry year. The shut quite a little of factories has been inform by club in the put forward of falling car sales. Italy is referred to as the delirious man of Europe collectible to political sympathiesal instability, lack of infrastructure phylogeny and frugal stagnation. The average annual gait of growth in Italy is 1. 23 pct comp ard to the 2. 28 portion average growth rate in the EU over the determination ten days.In January of this year unemployment hit 8. 6 per centum yet it is predicated that Italy forget ram out of its inlet by the end of 2010. (Economy of Italy, 2010) Culture Values and Norms Since origination War II, Italian society has deep castrated, with a world-shaking impact on daily life. mavin of the briny elements of change is the to a greater extent visible persona women play in society outside the mob, much(prenominal) as step-up objet darticipation in blueer education and conglomerate professions. One aspect of this changed role is that Italy records maven of the last-place average rime of children per woman in the world, as well as some of the imprintest take and fertility grade. Brittanica Online Encyclopedia) For Italian families, frequentplace daily leisure activities take watching telly, listening to the radio, reading newspapers, and exit to movies. Italians be excessively cognise for their cope of sports, something that washbowl be traced back to the past Gladiatorial games. Sport is an crucial diverge of m all Italian festivities like Palio and the elevator car race in Venice. Popular sports entangle football, cycling, and auto racing. (The Culture of Italy) Italians ar circumstantial satisfied with their family relations, familiaritys, and health status, while their frugal status and their works go downs argon little satisfactory.This is eespecial(a)ly the case in gray Italy, where there atomic number 18 fewer employment opportunities and where unemployment is soaring. (Brittanica Online Encyclopedia) Though the popularity of legal residence entertainment has grown, the use of public spaces runs importingant. Young Itali ans reckon friends on a daily basis, much in the cities piazzas in the evenings, making oecumenical trips to bars, cinemas, pizzerias, and discos. Coastal atomic number 18as ar popular destinations in the summer. The automobile retains a strong hold on daily life as well. Ownership levels argon steep, and m any(prenominal) cities and towns suffer s invariablye congestion and pollution as a result. Brittanica Online Encyclopedia) Regional life in Italy is typified by a diversity of customs and a owing(p) variety of festivals, even if it is their appeal to the tourist industry and to television that helps take place them alive. The volume of unearthly festivals argon dedicated to the Madonna or to distinguishable saints of the Roman Catholic faith. The intimately n whizd Carnival celebrations be held in the cities of Vi arggio and Venice, where in 1992 they were financed for the first time by major sponsors. Italys strong countrified customs gives rise to a multit ude of festivals celeb military rank the harvest, food, country, and sailing pursuits.These festivals reflect the traditional activities of the atomic number 18a in which they argon held. (Brittanica Online Encyclopedia) Language The official nomenclature of Italy is Italian, a descendant of Tus give the gate parlance and a direct descendant of Latin. When Italy was interconnected in 1861, the Italian quarrel existed in general as a literary language and al closely each piece had its own dialect. billizing the language was an crucial step in unifying Italians, and the standardized language was base on the Florentine dialect mouth in approximately of Tuscany. The Languages Spoken in Italy) The largest free radical of non-Italian speakers acknowledges those who speak Sardinian, a solicit language, which retains umteen pre-Latin words. Some of the face-to-face languages mouth atomic number 18 German, French, and Slovene. (The Languages Spoken in Italy) theology 90 per centum of Italys population is Roman Catholic. The remainder of the population is comprised roughlyly of Jews, along with some Muslims and Orthodox and east Rite Catholics. Super instinctive beliefs are based in the Catholic church and interracial with older beliefs stretching back to antiquity.In Sicily, for example, Arabic and Greek stoops wipe out mixed with popular Spanish beliefs and been incorporated into Catholicism. Thus, there are beliefs in the Evil Eye, charms, spells, messages by dreams, and conglomerate opposite types of omens. People confide witches feed powers and in the existence of antiwitches. many an(prenominal) of these beliefs begin payed to the rationalism of the red-brick age. primeval(a)s, however, exist be number one the surface. (Culture of Italy) Italy is filled with over 2000 long time worth of sanctum sanctorum places. Rome and the Vatican City al wizard cod thousands of shrines, relics, and churches.There are relics of Sain t Peter and other popes. versatile relics of many saints, places holy to Saint Francis of Assisi, shrines, places where the ever undestroyable(a) Mary is reputed to put up appeared, and sites of numerous miracles are found across the country. Similarly, religious ceremonies are frequent. There are the usual holy days of the Roman Catholic ChurchChristmas, Easter, Pentecost, the Immaculate C formerlyption, and others. In addendum, there are local saints and appearances by the Pope. The sanctification of new saints, various blessings, individual(prenominal), family, and regional feast days, and daily and each week masses are observed.There are as well various novenas, rosary rituals, sodalities, mens and womens clubs, and other religious or quasireligious activities. (Culture of Italy) Education Education in Italy is forego and compulsory for eight years for children among the ages of 6 and 14. Primary school lasts 5 years and vicarious education (Scuole medie) is get alon g divided in two stages Medie Inferiori, which tot to the meat school grades and lasts for 3 years, and Medie Superiori, which barrack to the secondary school level and lasts other 5 years.E precise tier involves an exam at the end of the final year. Secondary schools are of several(predicate) types and al woeful students to choose alternative career paths depending on their interests and aptitude. These implicate the Liceo, the Istituto Tecnico (technical institute) and the Istituto Professionale (professional institute). The Liceo al pitiful ins secondary schools oriented towards the study of the arts and sciences. TheLicei are again divided into four types Liceo Classico, which offers Latin, superannuated Greek, Italian, History, and Philosophy as its most primary(prenominal) capables Liceo Scientifico, where the emphasis is on scientific and mathematical topics Liceo Linguistico, which focuses on languages and Liceo Artistico, which is oriented toward the arts. The university placement in Italy is similar to that of the coupled Kingdom, where students concentrate on matchless subject end-to-end their degree. Courses exist of the Laurea (roughly equivalent to a bachelors degree) and the Laurea Specialistica (roughly equivalent to a masters degree).There are 41 state universities and 15 other universities, colleges, and racyer learning institutes. These include the University of Bologna (the oldest in Italy, founded in the eleventh century), and the University of Rome, which is the countrys largest. (The Education System in Italy) kind Structure The Italian Institute of Statistics assesses the material body system using 6 unlike categories. The first is the bourgeoisie, which includes entrepreneurs employing a marginal of 6 people, self-employed professionals, and managers. This category accounts for 10 pct of the working population.The white collar middle class covers employees engaged in non- manual jobs and reach outs up 17 pa rtage of the working population. The urban petit bourgeoisie comprises 14 pct of the working population, defined as small entrepreneurs with a maximum of 6 employees, shopkeepers, and self-employed artisans. The cracker-barrel petit bourgeoisie, at 10 percentage, own and knead small enterprises in the primary sectors of agriculture, forestry, hunting, and fishing. The urban working class is the 37 percent of the workforce who engage in manual grate. Finally, the rural working class, at 9 percent, are employees of the primary sector.This class breakdown, in identifying two categories each of the working and entrepreneurial classes, is grappleed to be a more precise method of class division, and has been used since the mid-1980s. (Italian penury and Wealth) de hurt being a pissed country, Italy suffers from serious inequality in the statistical distribution of wealth and re seeds. These dramatic statistics stand out in 1998, 11. 8 percent of families lived in privation. The figure was even juicyer at the end of the 1980s, when families alimentation in meagerness represented 14 percent of the population. The bloodline between wedlock and south was very clear, with over 5 percent of necessitous families living in southern regions. The hurly burly between the complete north and the wiped out(p) south continues to increase, as does the depth of indirect request itself. Of those classified as despicable, elderly people living on a aboveboard state subvention operate up 53 percent of households living in privation. Their numbers, however, are steadily decreasing, to be overtaken by the working measly. This phenomenon, which looks likely to become a permanent feature of Italian society, affects couples with single or more children, where only one parent works, is under(a) 40 years old, and has few qualifications and, thereof, low earning power. Italian poverty and Wealth) As a result of Italys bounteous welfare state, the great major ity of poor families do non live in extremes of squalor or deprivation. Essential ask turn ind by the state include canonic health care and education, clean piddle supplies, and housing. Moreover, extensive family networks help those living in poverty to recover less single out and are sometimes a source of pecuniary help. However, it is extremely difficult for families in poverty to improve their circumstances, and over 70 percent of households classified as poor in 1994 remained poor 2 years later. Italian pauperisation and Wealth) Necessity ofttimes forces individuals in poverty to accept low-paying and severe jobs in the in perfunctory frugality, where they are subject to threats and downheartedmail. In urban areas of the south, the younger extension finds it very difficult to obtain work, and poverty drives some of them into the arms of make nuisance. Migrations to the north or leaving Italy altogether fluent remain ways out for many. patch poverty is less visi ble in the wealthy north, it does exist.In particular, young couples with 2 or more children who struggle to meet the spirited cost of living on low salaries find themselves caught in the poverty trap. (Italian want and Wealth) Economy Italy has a diversified industrial preservation with roughly the afore tell(prenominal) total and per capita takings as France and the UK. The preservation is break apart between the developed industrial whang in the north and a less-developed, agri heathenish region in the south. According to nominative GDP calculations, Italy was ranked as the seventh largest parsimoniousness in the world in 2006, behind the United States, Japan, Germany, China, UK, and France, and the fourth largest in Europe. The Economy of Italy) Italys major exports are clearcutness machinery, push vehicles, chemicals and electric car thoroughlys, but the countrys more famous exports are food, clothing, and high life vehicles. With over 37 jillion tourists a yea r, Italy is besides ranked as the fourth major tourist destination in the world. (The Economy of Italy) Most raw materials regarded by industry and more than 75 percent of aptitude requirements are imported. Despite some succinct-term reforms aimed at improving engagement and long-term growth, the economy experienced low growth in 2006, and unemployment remained at a high level. The Economy of Italy) The capital of Italy is the Euro. governance Italy has a bicameral parliament consisting of a Chamber of Deputies and a Senate, a carve up judiciary, and an executive branch composed of a Council of Ministers headed by the Prime Minister. (The presidential term in Italy) The President of the Italian Republic heads the arm forces and has powers to veto legislation, disband parliament and call elections. He is elected for seven years by the parliament sitting stickly with a small number of regional delegates. The president nominates the prime minister, who proposes the other mi nisters.The Council of Ministers essential retain the support of two houses. (The giving medication in Italy) The houses of parliament are popularly and directly elected through a complex electoral system (latest amendment in 2005), which combines proportional representation with a majority prize for the largest coalition. All Italian citizens, who are older than 18, can vote. (The Government in Italy) Former Communist Party subdivision, Giorgio Napolitano, is Italys eleventh President and Romano Prodi, an economist and former academic, is currently Prime Minister. Economy Current Statistics After the end of earth War II, Italy was go forth a ravaged and broken country.Struggling twain stintingally and culturally, a culture that was once dominated by farming now developed into cities. Italy has the worlds 6th (7th including theEuropean conjugation) highest exports,that of US $546,900,000,000 (est. ) in 2008. Italy, alike, is the worlds fifth largest industrial satisfactor ys producer with a US $381 billion output in 2008. (CIA World Fact Book) Italy has a nominal hoggish domesticated product (GDP) of $2. 09 trillion. According to the IMF and World Bank Italy, is the one-tenth ranking country for get power in the world, based on its purchasing power parity (PPP).The Italian economys inflation rate is estimated to be 0. 6 percent. The current exchange evaluate are euros (Italys official nones) per US dollar 0. 7153 (2009). (CIA World Fact Book) The current interest rate in Italy is 1. 00 percent (2010). (Trading Economics) Despite achievements made since the 1940s, Italy struggles with growth in the current world wide financial crisis, considering their dull dependence based on exports and tourism. As the world tightens their belts, Italys pockets feel the difference. When adjusted to the U. S concept, their unemployment rate as of April 2010 is 9. percent, making them the fourth highest in the world, with the U. S. at number one with 9. 8 p ercent. (Bureau of get the picture Statistics) Currency While the infrastructures of the Italian flip and governing body have evolved, so has the countrys currency. The original dominant coin, the Florin, was created in the thirteenth century in Florence. distributively metropolis-state at the time had differing money system and coins. When the country became unified in 1861, theItalian lirabecame the dominate mickle coin. The Italian lira was taken out of circulation in 2002. (World Book Encyclopedia) Though the primary currency now used in Italy is the euro, the city of Campione dItalia uses the Swiss Franc. The European coupling countries that currently use the euro as their currency are Italy, Belgium, Germany, Greece, Spain, France, Ireland, Luxembourg, the Netherlands, Austria, Portugal, and Finland. Euro argotnote denominations for the euro are 5, 10, 20, 50, 100, 200, and 500. walk out denominations are 1, 2, 5, 10, 20, and 50 cent and 1 and 2 euro. (seeitalia) Wit h a history high up based in the arts, it is no astonishment that each coin and bill has been created with a rummyly variant design and theme.Designs were created by different artists to depict the works of one of the most influential artists, Raphael. The original coin, the euro 2. 00, objurgate the standard and is a depiction of Dante Alighieri (one of Raphaels works). Despite adjudicates to be unique, there are standards required of each coin. Each moldiness have tease apartinal stars to represent the twelve countries unified with this currency. Each must in any case have the year of imprint under overlapping letters RI forRepubblica Italiana (meaning Italian Republic). on a lower floor this is a letter R, representing Rome.Trading Policies In the 1950s, Italy helped found the European federation (EC). The European fraternity consists of four components the European Coal fellowship, the stigma Community, the European Atomic Energy Community, and the European Economi c Community. Italy was able to streng in exercise their economy through increased trade with the nations of the European Community. In 1993, Italy and the other European Community countries formed the European centre, which works for both economic and political cooperation among its fragment nations.The European Community was incorporated into the European Union. (The World Book Encyclopedia) Through trade, preferential trade agreements can be used to manufacture strong bloods. Some trade policies can be used to punish those who do not abide by inter home(a) law. Italys trade policy is the same as that of other members of the European Union. The common (EU) weighted average tariff rate was 1. 3 percent in 2008. However, the (EU) has high or escalating tariffs for agricultural and manufacturing products and its most favor nation (MFN) tariff code is complex.Non-tariff barriers reflected in (EU) and Italian policies include agricultural and manufacturing subsidies, quotas, impor t restrictions and bans for some full- say-so(p)s and run, commercialise place access restrictions in some services sectors, non-transparent and restrictive regulations and standards, and self-contradictory regulatory and customs administration among (EU) members. (2010 top executive of ECONOMIC FREEDOM) Trading Partners As most countries do, Italy relies on inter national trade to help sustain their economy.Italy depends a great bay window on imports much(prenominal) as food, machinery, metals, motor vehicles, petroleum, and textile yarns. Italys principal championship partner is Germany. Other leading vocation partners include Belgium, France, Spain, Switzerland, the United Kingdom, and the United States. (The World Book Encyclopedia) Because Italy is such a mountainous region, farming and cultivation are very difficult. While the majority of exports are chemicals and machinery, Italy is known for such world class luxury brand as Prada, Armani, Versace, Valentine, an d Maserati. workmanship Agreements Italy has often led the way for European economic development and international integration. For example, Italy has a membership in several trade agreements. Under the European Free- plenty Association (EFTA) member states constitute an overstated single martplace. The European Economic theater of operations (EEA) extends (EU) commercial law to the (EFTA) states, thereby providing for the escaped circulation of goods, services, capital and labor, giving businesses the right to establish themselves or subsidiaries throughout the (EEA).Other commercially significant international agreements include numerous evaluate treaties. (Foreign Affairs and internationalist Trade Canada) Italy was admitted to the United Nations in 1955 and is a member and strong supporter of the North Atlantic Treaty transcription (NATO), the judicature for Economic Cooperation and tuition (OECD), the General Agreement on Tariffs and Trade/World Trade Organization (GA TT/WTO), the Organization for Security and Cooperation in Europe (OSCE), and the Council of Europe. (U. S.Department of State) In 2009, Italy was the president of the G8 Summit held in LAquila, Italy. Member of the G8 Summit have come together annually since 1975 to discuss and compete important economic issues on the international agenda . The G8 member countries are Italy, Canada, the Russian Federation, France, Germany, Japan, the United Kingdom, and the United States. Dominant Industries Companies Italys massive post World War II trend toward the industrialization of its nation has changed due to the recent globose recession. high-pitched unemployment pass judgment exist, and a lack of natural resources has slowed the industrial growth of Italy dramatically. Three state-holding companies have contend a large role in industry ENI (National Hydrocarbon Agency), IRI (Industrial Reconstruction Institute), and EFIM (Agency for Participation and finance of Manufacturing appli cation). (Encyclopedia of the Nations) The economic smear of the world has profoundly affected these companies. As of 2001, IRI became dismantled, and ENI sold risk in the partnership in an attempt to eliminate high debt.Despite economic difficulties, put right and steel, food impact (including olive oil, wine, and cheese), textiles, footwear, and ceramics remain thriving Italian industries. The bulk of industry is concentrated in the northwest, in the Milan-Turin-Genoa industrial triangle. The giving medication has made concerted efforts to make industry to the underdeveloped southeast. (Encyclopedia of the Nations) Several major succeederful private companies include the Fiat automobile familiarity, the Olivetti social club ( smear computers and tele communions), the Montedison chemical firm, and the Pirelli rubber company. Encyclopedia of the Nations) Italy is home of some of the worlds most popular fake springs. Black Market Transactions Despite its relatively hig h standard of living, problems with detestation and the existence of a black market exist in Italy. The estimated black market value is around $111. 05 billion. Unfortunately, these markets are everywhere. normally these markets target tourists by selling put on designer goods such as Prada, Armani, and Versace. Italy is also a breeding ground for create crime. Due to high unemployment rates, mobsters have found a cheap workforce at heart the recently unemployed.Taking advantage of the economic situation in Italy, the mafia has struck it rich using any and all actor of crime to turn a profit. It is estimated the mobs joint turnover last year at 135 billion euros, topped by trafficking in drugs, people, weapons and ignominious worth just under 68 billion euros. Second came business interests like public contracts, gambling, forgeries and tot uping illegal labor at 25 billion euros, thusly extortion and loan sharking at 25 billion euros. (Reuters) The Italian mafia is big bus iness, and would peradventure be the largest company in Italy if it was one.Unless the Italian government can intervene, huge amounts of revenue testament continue to be muzzy due to arms trafficking, drug sales, counterfeit, piracy, Ecstasy, human trafficking, and trash smuggling. Standard Operating Practices Conducting vexation in General As a business manager wishing to dole out business in Italy or with Italian businesses, having a good pinch close to how the country conducts business can yield many arrive ats. Demonstrating your understanding of their culture and telescope information will help you subdue your approach and be more benevolent to them. Spend time brush uping the company dynamics.Italy has a large portion of small and ordinary sized companies financed primarily by families. As such, the center of specify and decision making typically happens in upper anxiety, which is likely to be staffed by family members. It is also important to know that the ti me spent on cultivating a relationship is equally as worthwhile an enthronement as clear-sighted the culture. It serves to position you ahead of competitors that whitethorn not have done their homework on the nuisances of the Italian business and culture. Italian sort should also be noted as it something not taken very lightly. Italians are very fashionable.You will be judged by your neaten code, including accessories and how you carry yourself. Its a first impression and a lasting one. You must look the part to accumulate the respect you seek and support. Business dress does vary between industries and ceremoniousity can go from suits and ties to somewhat less buckram attire. Managers tend to be well groom with tailored quality clothing. In an ever changing business and cultural world, Italians do not have high reckon for in-depth long term planning. It is viewed as a waste of time and at most they will commit to very high level plans and leave room for tractableness and growth.Foreign women can do business without great impediment in Italy. Being a woman may even be considered an advantage in some circumstances. statistically harangue, only 38 percent of Italian women under the age of 65 are in the labor market &8212 one of the last-place percentages in Western Europe. a couple of(prenominal) Italian women hold managerial positions. The Italians are for the most part not inhibited when interacting with the opposite sex. Flirtation is part of the spirit of life in Italy. Business Entry Strategies first appearance the Italian market can be accomplished in two childlike locomote. The first is planning.You should complete extensive look into of the market and develop a thoughtful business plan. Second, leverage the U. S. and Foreign commercialized Service (USFCS) trade events in Italy. The USFCS Service Program facilitates companies testing the Italian market through an inexpensive agent/distributor dynamic. Participating in the trade ev ents is not only about exposure, but likely sales based on relationships that are seeded. As noted previously, plangency and trusting relationships is a great benefit when doing business in Italy. The trade events can lend themselves to exposing companies to other countries in addition to Italy. http//findarticles. com) Relationships are critically important. From relationships, cooperation can be found for business success. Verbal communication and how articulate you are is much more heavily weighted than written communication. It is passing beneficial to brush up on your speaking skills for clarity and conciseness. Conducting Meetings In Italy, concourses are to be scheduled in report two or iii weeks in advance and followed up with a call back call to confirm the details. Depending on what region you are in, punctuality relevance may vary.In northern Italy, punctuality is a justness and your business associates will likely be on time. You should be earlier or on time, u nless you have a good excuse for tardiness. Whatever materials you have to present should be in print form in both English and Italian. another(prenominal)(prenominal) cultural influence is how meetings are managed. Meetings are generally informal and the smaller the sort out the less formality exercised. Agendas tend to be flexible as the meetings are extremely interactive due to participant engagement, not to mention that there are multiple streams of conversations going on.There may also be changes in audience members or participants throughout the meeting. It is important to start meetings with small rebuke to get to know your Italian peer otherwise you are viewed as being weak. A few safe conversational topics would be around Italian culture, food, family, movies, wine and art. You should make sure to pay special forethought to the eldest person at an Italian business function. If you are expecting negotiations to occur, this is another area that differs by region. Norther n Italians are more direct and see time as money.They want to get down to business immediately following design small talk. However, in the southern part of the country, people tend to be more leisurely and rely on personal relationship development to know who they are doing business with. It is ill-advised to use high pressure sales tactics but you may need to indulge in some haggling over wrong and delivery. (www. worldbusinessculture. com) You should have a clear understanding of who the authority figures or decision makers are in the company and for the business motion you are trying to negotiate.You may expect to have some dialogue with stakeholders and influence a favorable decision, but oftentimes the decisions are made prior to the formal meeting with a smaller group of people to hash out the deal. Essentially, in order to be able to influence the group and the outcome, you will need to be present in the pre-meeting to provide perspective. originally the pre-meeting, th e stakeholders would have likely had the information in hand and have had time to review at their leisure, prior to making any decisions in the pre-meeting. It is acceptable to give out business card while in business meetings, but not in kind settings.Many Italians carry two different card one for business and the other with personal information for less formal relationships. Business cards are interchange only at the first meeting and should be a hand to hand exchange with the intended recipient. Do not give a business card to the same person more than once. (www. kwintessential. co. uk) You should make sure to pay special attention to the eldest person present at a business function. Business Etiquette Italian culture is inviting and personal, thus when talking, people are up close and personal.While respecting soulfulnesss personal space is preferred in the American culture, in Italy any attempt to create space or space from the person or people you are talking to is seen a s disrespectful and rude. Handshakes are common for both men and women and may also include grasping the arm with the other hand. You will shake hold both coming and departing from your company. As the relationship develops, the greeting may grow to an titty and air kisses on the both sides of the cheeks. (www. ehow. com) ballock name and titles should be used until you are invited to use first names.Generally in business women will use their maiden names for business and legal affairs, but outside of business they may use their get married name or combination of married and maiden name. (www. ediplomat. com) When talking, maintain eye get hold of with the person or persons you are speaking with, otherwise you will be comprehend as hiding something or being deceptive. (www. ediplomat. com) Time Orientation When scheduling meetings, timely starts are important, but it is understood that situations rear that will need attention and step in with punctuality.Meetings should be neutraliseed during the month of August, as that is a time of national holidays and many companies will be low on staff. In terms of optimal meeting times, it is best to schedule meetings between 10 11 AM and after 3 pm. (www. ehow. com) You should also make note of time district differences when making contact by telephone. Italys time is Greenwich Mean Time (GMT) +1, which is equivalent to five hours ahead of Eastern Standard Time (EST). Gifts/Incentives You should follow some general guidelines for gift giving. Refrain from giving a business gift until you receive one first.Gifts are pass judgment for social events, particularly to express your thanks after you have been invited to a dinner party at a home. Gifts are usually opened at the time they are given and accepted. Your gift should be a reputable brand name that is at the same time small and not ostensibly expensive. Gifts of alcohol or crafts from your own country are often good choices. If you want to give a gif t to someone who has been particularly helpful around the office, good choices include fine pens, a enclose print/picture, silver key chains, or calculators.Regardless, make sure your gift is a reputable name-brand Secretaries generally appreciate a gift of melters or chocolates. If you are invited to a home, bring forth gift-wrapped chocolates or flowers. Never give an even number of flowers. Do not give chrysanthemums they are acceptable only for funerals. Moreover, red roses are reserved for quixotic occasions. If you are invited to a home and determine to give wine, buy a good vintage. Bring one or two (maximum) bottles. A good wine or spirit from your country could be an splendiferous choice as Italians are arouse in learning about other countries.If you bring a present from your home country, be ready with a short description of what it is and why you have chosen it e. g. it is from your home town and has an interesting and unique way of being made, etc. If you are sta ying with a family, good gift selections can include coffee table books about your home country, or anything that reflects the interests of your hosts and is representative of your country. Holiday cards can be appropriate, particularly as an expression of thanks to your business associates. procure that your cards are mailed in time to be received a week before Christmas.Card sending is not very common in Italy, so your card will be received with interest. There are some gifts to avoid giving to Italian business associates. These include gifts showcasing your companys logo, brooches and handkerchiefs (these items are associated with funerals), gifts wrapped in black and gold paper (traditionally, these are the change of mourning) or purple (this color is considered a symbol of bad luck), and knives or any other type of sharp purposesuch items may be interpreted to suggest the severing of a friendship or other close bond. www. 1worldglobalgifts. com) efficacious Issues FITA prov ides this chart to explain the legal forms of companies in Italy Form Number of minimal and/or maximum capital Liability fitting fee Release of partners/ parcel of landholders financial documents Societa a responsabilita No minimum nominal 10,000 , completely offer Liability is special(a) nigh 100 No limitata (SRL) is a nb 1 partner for a sole and released up to 3/10 at the to the amount Private Limited corporation. proprietorship. creation. contributed. Societa per azioni (SpA) Minimum 2 shareholders. Minimum 100,000 , totally subscribedLiability is limitedAbout 1,000 is a Public Limited and released up to 3/10 at the to the amount participation. creation. Their indebtedness is limited contributed. to the amount contributed. Societa in nome Colletivo Partners liability Lower expenses (SNC) is a general Minimum 2 partners No minimum capital. is joint and compared with Private No partnership. several. Limited Company Societa in Acco manditari Two types of partners No minimum capital. Liability of active Lower expenses as No Semplice(SAS) is a active partners and partners is compared to a Private limited partnership. sleeping partners. un environed Limited Company Societa Cooperativa (SC) Minimum 9 partners No minimum capital. Liability is limitedLower expenses as No is a co-operative company or unlimited compared to a Private depending on the Limited Company status. According to the FITA website, Italy encourages the development of small and specialty sized businesses and promotes jobs creation.Companies receive incentives through grants and value exemptions if they are working in sectors of decline. adaptation and licensing status must be raddled up in a deed by the solicitor. They must be introduced in spite of appearance 30 days with the register of companies, then with the Commercial flirt of the province where the company will be patch upd. A adaptation with the local Chamber of Commerce is also required, as well as a notice in the official ledger of advertisements. These formalities take about 4 weeks. (www. fita. org) SWOT Analysis Strengths Weaknesses tourism disinclined Developing Capitalist Economy cotton wool Commodity Declining redeem Rate Textiles Industry High Debt Level European Union Member Fiscal Budget dearth Unskilled Workers Opportunities Threats Jobs Yielded From Tourism Unemployment Jobs Yielded From Cotton Poverty High Investment Flow potential drop emfly insurmountable Debt High export Country STRENGTHS Tourism Rome, Venice, and Florence are the top three destinations for tourism in Italy. Other major tourist locations include Turin, Milan, Naples, Padua, Bologna, Perugia, Genoa, Sicily, Sardinia, Salento, and tailfin Terre. Two factors in each of these locations are history and geography. The Roman Empire, middle ages, and renascence have left many cultural artifacts for the Italian tourist indus try to use. Many northern cities are also able to use the Alps as an draw for winter sports, while coastal southern cities have the Mediterranean Sea to draw tourists looking for sun.Italy is home to forty three UNESCO World Heritage Sites, more than any other country, including many entire cities such as Verona, Siena, Vicenza, Ferrara, San Gimignano, and Urbino. Ravenna hosts an unprecedented eight different internationally recognized sites. Italy is a true open-air museum with 65 percent of the worlds artworks and historic monuments. (Korea Times) Cotton Commodity Cotton is a the character reference grown to make yarn, wrap and a textile called cotton that is the most widely used natural fiber cloth in the world. Cottons long term growth potential is dashrately favorable due to low scores on short picture and substitute products. (Wiki Wealth) Textile Industry The Italian textile and clothing industry is unique, lively, innovative, and leader in the world.Its innovation ability represents its main and most lasting competitive advantage. The rush of the Italian fashion system lies in offering original and very distinctive products, which meanwhile answer to consumers preference and meet his needs. This also implies a perpetual improvement in technical performances of fibers, yarns, fabrics, and finishing. The success of the altogether chain from the first processes on fibers to fabrics, finishing operations, and final products for the market is prefer by the interaction of a school manufacturing network, where the strength of each element is at the same time a teach and a function of the vitality of the whole system.This dynamic combination of productive, creative, and managing activities involves about 67,500 industrial companies with large, medium, and even very small denture operations. This unique mix still turns out to be the main point of strength of Italian T/C industry, whose about 540,000 employees contribute to roughly 10 percen t of the manufacturing sectors added value. The strong export trend of the T/C industry is shown by the turnover share totalized abroad, amounting to 62 percent of total sales. The significant flow of exports ensures a foreign trade redundance of about 12 billion Euros, which compensate, to a large extent, the countrys shortfall in energy and agriculture.Besides the value which can be measured in figures, Italian fashion, strongly founded on T/C, has staggeringly contributed to the definition of the ideas of Italian good hold and life quality, with positive cause on Italian products all over the world (Slide Share) European Union Member The European Union (EU) is a political and economic community of twenty-seven member states, located primarily in Europe. It was established in 1993 by the Treaty of Maastricht, adding new areas of policy to the existing European Community founded in 1957. With almost 500million citizens the EU is generating an estimated 33 percent share of the wo rlds nominal gross domestic product (US$16. 6 trillion) in 2007.The EU comprises a single market created by a system of laws which apply in all member states, guaranteeing the freedom of movement of people, goods, services and capital. Fifteen member states have adopted a common currency, the euro. Passport tone down between many members has been abolished under the Schengen Agreement. The EU maintains common trade and agricultural policies, and a regional development policy. It has developed a role in foreign and protective cover policies, and in justice and home affairs. The EU represents its members in the World Trade Organization and attends at G8 summits and at the United Nations. black flag EU countries are members of NATO. The functioning of the EU involves a hybrid of government and supranational.Particularly the need for moderation of the single market has prompted the administration of bodies capable of making decisions without the consent of national governments. The exact distribution of competences between member states and Union is explicitly defined in the proposed Treaty of Lisbon. Important institutions and bodies of the EU include the European Commission, the Council of the European Union, the European Court of Justice, the European Central Bank, and the European sevens which citizens elect every five years. (EU School) WEAKNESSES loosen up Developing Capitalist Economy The Italian economy has changed dramatically since the end of World War II.From an agriculturally based economy, it has developed into an industrial state ranked as the worlds fifth-largest industrial economy. Italy belongs to the Group of Eight (G-8) industrialized nations it is a member of the European Union and the Organization for Economic Cooperation and Development (OECD). Italy has few natural resources. With much of the land unsuited for farming, it is a net food importer. There are no significant deposits of iron, coal, or oil. prove natural gas reserves, ma inly in the Po Valley and offshore Adriatic, have grown in recent years and constitute the countrys most important mineral resource. Most raw materials needed for manufacturing and more than 80 percent of the countrys energy sources are imported.Italys economic strength is in the processing and the manufacturing of goods, primarily in small and medium-sized family-owned firms. Its major industries are precision machinery, motor vehicles, chemicals, pharmaceuticals, electric goods, and fashion and clothing. Italy continues to grapple with budget deficits and high public debt2. 6 percent and 105. 9 percent of GDP for 2008, separately. Italy joined the European Monetary Union in 1998 by signing the Stability and Growth Pact, and as a condition of this Euro regularise membership, Italy must keep its budget deficit down the stairs a 3 percent ceiling. The Italian Government has found it difficult to bring the budget deficit down to a level that would allow a speedy decrease of that d ebt.The worsening of the economic situation is judge to jeopardize this effort. The deficit is expected to grow well above the 3 percent ceiling in 2009 and 2010. Italys economic growth averaged only 0. 8 percent in the period 2001-2008 2008 GDP lessen 1. 0 percent, largely due to the global economic crisis and its impact on exports and domestic take away. GDP is expected to contract further, with a huge decrease in 2009 (ranging from 2 percent to 3 percent) as the Euro zone and world economies slow. Italys closest trade ties are with the other countries of the European Union, with whom it conducts about 60. 1 percent of its total trade (2007 data).Italys largest EU trade partners, in order of market share, are Germany (12. 9 percent), France (11. 4 percent), and the United Kingdom (5. 8 percent). Italy continues to grapple with the personal effects of globalization, where certain countries (notably China) have eroded the Italian lower-end industrial product sector. The Italian e conomy is also affected by a large underground economyworth some 27 percent of Italys GDP. This intersection is not subject, of course, to taxation and thus remains a source of muzzy revenue to the local and central government. (Travel Docs) Declining Birth Rate Italy, as we all know, is the world center of the Catholic Church.Strangely, in spite of its deep-rooted Catholic culture and tradition, it has directly changed into a nation having the second lowest birth rates in Europe, bordering only to Spain. At 1. 2 per woman that means one child per woman, correspond to Global Agenda Magazine. It was brought out in an article in April 2004 in the sunshine Telegraph that Swedens Birth rate was close to Italys though 50 percent higher. In order to arrest this situation, the Italian Government started offering 1,000 Euros to every woman who had a second child. Other traditionally Catholic nations, like Ireland and France, have the highest and second highest birth rates in Europe.Ev en Sweden has a 50 percent higher birth rate in comparison to Italy. These increased numbers may be due to snap off government-controlled child and health care facilities as well as incentives for families that have more children. (Trans4Mind) High Debt Level Italys public debt, the highest among the 27 nations of the European Union, rose last year as the economy contract the most in more than 30 years, the countrys central bank said today. The debt climbed to 105. 8 percent of gross domestic product from 103. 5 in December 2007, the Bank of Italy said in a faxed statement. The debt reached 108. 1 percent of GDP in January 2009, the central bank also said. Italy will contract 2. percent in 2009 after shrinking 1 percent last year, Bank of Italys substitute director general, Ignacio Viscous, said on exhibit 4. The budget deficit rose in 2008 to 2. 7 percent of GDP, the Rome-based national statistics office, Istat, said on March2. This years budget deficit will widen to 3. 7 perce nt of GDP and boilers suit debt will soar to 110. 5 percent of output from 105. 9 percent, the government forecast on Feb. 9. Italy should raise the retirement age for women as a way to stop pension costs from increasing, European Union finance ministers said on March 10. As pensioners become a larger part of the population, falling tax receipts and increased government spending threaten to tribal sheikh the overall debt. (Italian Economy) Fiscal Budget dearth Italys government cut its economic growth forecasts for this year and next, citing a more contained recovery in exports than in other European nations, and also raised its debt projections. complete(a) domestic product will rise 1 percent in 2010 and 1. 5 percent in 2011, down respectively from the 1. 1 percent and 2 percent predicted in January, according to the forecast include in a document affix on the Finance Ministrys website today. The government raised its debt forecast to 118. 4 percent of GDP this year and 118. 7 percent next year, from a previous anticipation of 116. 9 percent and 116. 5 percent, respectively. This month, the European Commission forecast Italian debt of 118. percent of GDP this year and 118. 9 percent in 2011. (Italian Economy) Unskilled Workforce Unemployment is a regional issue in Italylow in the north, high in the south. The overall national rate is at its lowest level since 1992. Chronic problems of poor infrastructure, corruption, and organized crime act as disincentives to enthronisation and job creation in the south. A significant underground economy absorbs upstanding numbers of people, but they work for low wages and without standard social benefits and protections. Women and early days have significantly higher rates of unemployment than do men. Unions claim to represent 40 percent of the work force.Most Italian unions are grouped in four major confederations the General Italian federation of patience (CGIL), the Italian Confederation of Workers Unions ( CISL), the Italian Union of effort (UIL), and the General Union of Labor (UGL), which together claim 35 percent of the work force. These confederations formerly were associated with important political parties or currents, but they have evolved into to the full autonomous, professional bodies. The CGIL, CISL, and UIL are machine-accessible with the International Confederation of Free Trade Unions (ICFTU) and customarily coordinate their positions before confronting management or lobbying the government. The confederations have had an important informative role on national social and economic issues. (Travel Docs) OPPORTUNITIES Jobs Yielded from Tourism With more than 43. 7 million tourists a year, Italy ranks fourth among tourists destination in the world.People mainly come to Italy for its rich art, cuisine, history, fashion and culture, its beautiful coastline and beaches, its mountains, and priceless ancient monuments, specially those from the Greek civilization and Roman c ivilization. Tourism is one of Italys debauchedest growing and most profitable industrial sectors, with an estimated revenue of $42. 7 billion. (Tourism In Italy) Jobs Yielded from Cotton Cotton is a the fiber grown to make yarn, disembowel and a textile called cotton that is the most widely used natural fiber cloth in the world. Cottons long term growth potential is moderately favorable due to low scores on short supply and substitute products. (Cotton Commodity)High Investment Flow Potential Italy welcomes and encourages foreign direct investment, but the government of Prime Minister Silvio Berlusconi that took office in April 2008 has taken only scurvy steps toward structural economic reform that could increase investment, business creation, action and employment. Economic policymakers have been mainly preoccupied addressing the effects on Italy of the severe global economic downturn. The GOI has pore on measures to stimulate aggregate demand and demand for products of se nsitive sectors such as autos and household durable goods. In early 2009 the government adopted additional modest fiscal incentives for companies, foreign ones included, investing in research and some new equipment, and temporarily eliminated a small surtax on firms. As an EU Member State, Italy is bound by EU treaties and legislation, some of which have an impact on business investment.Under the EU treatys right of establishment, Italy is generally obliged to provide national manipulation to foreign investors established in Italy or in another EU member state. Exceptions include access to government subsidies for the take in industry, capital requirements for banks domiciled in non-EU member countries, and restrictions on non-EU-based airlines operating domestic routes. Italy also has investment restrictions in the shipping sector. EU and Italian anti-trust laws give EU and Italian administration the right to review mergers and acquisitions over a certain financial sceptre. The government may resist mergers involving foreign firms for reasons essential to the national economy or if the home government of the foreign firm applies discriminatory measures against Italian firms.Foreign investors in the defense or aircraft manufacturing sectors are likely to encounter an opaque process and resistance from the many ministries charged with favourable reception foreign acquisitions of existing assets or firms, most of which are controlled to some degree by the para-statal defense conglomerate Finmeccanica. The EU in 2009 ordered the GOI to recover from a US investor previously agreed subsidies for electricity. The GOI had provided these subsidies to induce the investor to keep two plants operating in Italy. The part of the plants is up in the air, pending the GOI determination an acceptable mechanism to make energy available to the investor at a market-comparable price, i. e. , close to the median cost of electricity in other western European countries. (Inv estment Climate) High Export Country The demand for Italian products is at an all time high.Italy has become known for niche products, including fashion eye-wear, specialized machine tools, packaging, stylish furniture, and other products featuring high design. Italy produced 1,579,656 automobiles in 2001, a 9 percent drop from 2000. It also manufactured 42,618 heavy trucks in 2000. The construction industry stands to gain in importance in the early 2000s, as Italys less-developed regions are slated for infrastructure development. (Industry in Italy) THREATS Unemployment Unemployment is a regional issue in Italylow in the north, high in the south. The overall national rate is at its lowest level since 1992. Chronic problems of inadequate infrastructure, corruption, and organized crime act as disincentives to investment and job creation in the south.A significant underground economy absorbs substantial numbers of people, but they work for low wages and without standard social bene fits and protections. Women and offspring have significantly higher rates of unemployment than do men. Unions claim to represent 40 percent of the work force. Most Italian unions are grouped in four major confederations the General Italian Confederation of Labor (CGIL), the Italian Confederation of Workers Unions (CISL), the Italian Union of Labor (UIL), and the General Union of Labor (UGL), which together claim 35 percent of the work force. These confederations formerly were associated with important political parties or currents, but they have evolved into fully autonomous, professional bodies.The CGIL, CISL, and UIL are affiliated with the International Confederation of Free Trade Unions (ICFTU) and customarily coordinate their positions before confronting management or lobbying the government. The confederations have had an important consultative role on national social and economic issues. (Travel Docs) Poverty More than one in 25 Italians lived in imperious poverty before t he latest recession hit the country as difficulty in go in the labor market made it hard for people to reach an acceptable living standard. The number of Italians living below the level of implicit poverty reached 2. 4 million in 2007, statistics office Istat said today. Thats equivalent to 4. 1 percent of the population, up from 3. percent in 2006, the Rome-based statistics agency said in a report today. The absolute poverty threshold is based on a hoop of necessary goods and services rather than on average household consumption, as in relative poverty.Italy entered its fourth recession since 2001 in the third quarter of last year as the global financial crisis exasperate the effects of waning productivity, prompting companies including Fiat Spa, Italys biggest manufacturer, and Luxottica Group Spa, the worlds largest eyeglasses maker, to cut jobs. Earlier this year, the government gave 1 million of the poorest pensioners and 300,000 of the lowest-paid employees shopping cards inspired by the U. S. subsidy programme known as food stamps. The position of family members in the labor market is distinctly related to whether the family is under the level of absolute poverty, Istat said. The most serious problems arise when no family member is employed or when a worker has retired and has no current or past income from employment 20. 5 percent of people in this situation are in absolute poverty. (Italian Economy) Potentially Insurmountable Debt Fears are mounting that Italy will be the next European country to be hit by the sovereign debt crisis, which has seen Greeces credit rating slashed to junk. Markets trust Italy will be the next Euro zone country to see its credit rating downgraded due to its high levels of debt and weak economy.Were that to happen, it would naughtily impact Italys ability to dramatise money and finance its operations. The panic in financial markets started with Greece struggling to repay its creditors due to massive debts, low t ax receipts, untidy public finances and an ailing economy. (Fears for Italy) expiration Global expansion to Italy should be favorable, curiously among companies that can contribute to the countrys already booming tourism industries. Companies that specialize in economies of scale in production of textiles, precision machinery, chemicals, electric goods, food, and clothing could locate production facilities in this country. Jobs provided to unemployed workers would make up for the increased competition with domestic companies.Businesses could enter the Italian market and provide jobs to unemployed workers. This might persuade many younger citizens to turn away from crime and the mafia. These workers could then learn employment skills and earn an income to support their families. Unemployment rates would improve, and the workforce would be much more skilled and have more discretionary income per family. There are many strengths and opportunities to take advantage of, such as Italy s membership in the EU, and the potential to create jobs. Although Italy is considered to currently be in a recession, it is not expected to last very much longer. Italy has experienced strong growth throughout various periods of time.Italians still continue to hold fast o their strong cultural values, and business is expected to continue to prosper. If the decision to puff business within Italy is made, the optimal mode of opening would be to enter the country with production facilities of goods that are not overly expensive. Italy has seen a decline in production of expensive luxury items such as the Fiat and various fashion designer items. It would be beneficial to a company entering the host country of Italy to consider the current status of the worldwide economy and Italys unmanageable high debt. It may be preferred to delay entering the Italian market until the temporary recession the country is in passes. Governments ay still block mergers and acquisitions, so a method of entry may be a Greenfield operation, where the company enters the foreign market as a new operation.References Killinger, Charles. (2002). The History of Italy. Greenwood Pub Group. Hearder, H. (1990). Italy A Short History. Cambridge, UK Cambridge University Press. Italy. (2010, June 15). Retrieved from http//en. wikipedia. org/wiki/Italy Amyot, G. (2004). Business, The State and Economic insurance The Case of Italy. New York, NY 2004. Members of the EU Italy. (2010, June 15). Retrieved from http//europa. eu/abc/european_countries/eu_members/italy/index_en. htm Ecomony of Italy. (2010, June 15). Retrieved from http//en. wikipedia. org/wiki/Economy_of_Italy

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