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South Africa

South Africa. Shelby Bates Sarah Hart Annalisa Day Tye Jones Chelsi Delgado Travis Marlar Jessica Denis Zach Williams. Background. Location 50 million GDP 363.9 billion. Currency. Rand Exchange rate 1 US Dollar = 7.88 Rand Financial System South African Reserve Bank.

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South Africa

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  1. South Africa Shelby Bates Sarah Hart Annalisa Day Tye Jones Chelsi Delgado Travis Marlar Jessica Denis Zach Williams

  2. Background • Location • 50 million • GDP 363.9 billion

  3. Currency • Rand • Exchange rate • 1 US Dollar = 7.88 Rand • Financial System • South African Reserve Bank

  4. Industries • Natural Resources • Minerals: platinum, coal, diamonds • Timber: to build mines • Agriculture: sugar, grapes, citrus, wine, meat, wool, cotton, tobacco, maize • Motor vehicles/vehicle parts • Tourism • Infrastructure

  5. Business Appeal • Established legal system • Strives for 6% economic growth • Incentive grants • Electricity allowances, low interest rates, support programs

  6. Business in South Africa • Business language • Communication • Acceptable/unacceptable • Conflict style • Negotiation style

  7. Business Background In South Africa • Diverse Business Mixture • First world economic infrastructure • Third world poverty • Wealthiest country in Africa • Major Political Changes • Post-Apartheid • Abolishing racial segregation • “Rainbow Nation”

  8. Business Structures • 50% of South Africa’s fixed assets are controlled by the government • Centralized Power • Hierarchical & Bureaucratic Organizations • Business environment changes daily • Recent government and political changes have transformed the business structure of many South African companies • New Companies Act (2011) – Similar to U.S. business structures • Sole Proprietor • Close Corporation • Private & Public Company • Partnerships • Non-Profit Organizations

  9. Management Style • Power accumulated style • Decisions are often made at the top by a few senior managers (usually white) • Post-Apartheid • Hierarchies starting to break down • Younger middle-managers more proactive and involved in decision making • Evolving Middle Management • Black Professionalism • “Affirmative Action” Programs

  10. Business Communication Styles • English is the common business language • Different English language usages • Plain Speaking VS Diplomatic Approach • Plain Speaking: mainly spoken by Anglo/white South Africans • Diplomatic Approach: mainly spoken by native black cultures • Humor is often used while communicating in the business environment • Formal titles rarely used

  11. Typical Business Environment • Women in Business • Traditionally women have played a very minimal role • Female participation at the senior management level is rare • Progress towards gender equality has progressed slowly • Business Attire • Similar to the United States (conservative) • Men-collar and tie, jacket is not preferred by South African’s • Women-conservative dresses or suit

  12. Human Resources • Affirmative action • Minimum wage • R1100/month ($140) • Promotion • Key employment laws • 17 weeks maternity leave • 15 years of age

  13. Common Business Practices • 45 hour work week (10 hours overtime) • Meetings • Establish rapport • Not common to use agendas • Decision making based on facts, not intuition • Gift-giving is not common • Don’t interrupt

  14. Conclusion • Legal support • Strong natural resource industries • Strongest economy in Africa

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