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Germany - Milestone 2
Transcript of Germany - Milestone 2
Final Project: Milestone 2
November 27th, 2014
INT-113: Intro to International Business
Country Business Conditions
How Culture Affect Business
The high culture aspects of Germany, such as classical music, literature, and art, all affect the way Germans do business. They take pride in their past accomplishments in the aforementioned fields, and because of this, they strive to make the best products and provide the best service (Bach, 2013).
"Goethe and Schiller" by Ernst Rietschel
Johannes Sebastian Bach
Germany's folk culture consists of:
Protestantism and Roman Catholicism equally being the key religions at 34% each (Germany,
American pop music has influenced German music, as with the popular German band Wir Sind Hendel (Music,
Facts about Germany
Germany is also the home of electronic music, as made famous by Svan Vath.
German holidays may not be recognized countrywide; individual states may observe additional holidays (National,
Wir Sind Hendel
According to The Hofstede Centre website, German social culture can be described as decentralized, individualistic, competitive, avoidant of uncertainty, pragmatic, and restrained (Germany). This means German society values directness, leadership through achievements, loyalty, and a "live to work" mentality. Gender roles are similar to that of America, except with more women found in politics than in business (Women,
Facts about Germany
Etiquette Tips (Germany-Language,
Be 5-10 minutes early to all appointments.
Shake everyone's hand in a room.
Do not call someone by their first name unless invited to do so.
When entering a room, the highest ranked person goes first.
Provide all materials in German and English.
Be prepared to discuss your academic achievements and your company's background during your first meeting.
Germany's currency is the Euro. Currently, the exchange rate is 1 Euro = $1.245 USD (Currency Converter,
Germany has a central bank, the Bundesbank. They also have commercial banks, nine stock exchanges, and four bond markets.
Financial/Legal Environment for Businesses
German reform has made it more difficult to start a business in Germany by increasing the amount of Notary fees (Doing Business).
Germany welcomes foreign companies to establish businesses in the country without being part of a joint-venture (Foreign Businesses).
Germany ranks 11th in the world for the number of cellular service subscribers (The World Factbook).
Ranks 5th in the world for the number of internet users.
Over 41,981 km of railways (ranks 6th)
Over 645,000 km (includes 12,800 km of expressways) of paved roads (ranks 11th)
Over 7,467 km of riverways (Rhine River carries most goods)
Germany's current primary source of energy is from fossil fuels (51%), however, renewable sources are increasing (36%).
Bach, A. (2013, June 26). “A palace, a garden and Germany's politics of culture”. Retrieved November 24, 2014, from http://www.dw.de/a-palace-a-garden-and-germanys-politics-of-culture/a-16909368
Currency Converter. (n.d.). GoCurrency.com. Retrieved November 28, 2014, from http://www.gocurrency.com/v2/dorate.php?inV=1&from=EUR&to=USD&Calculate=Convert
Doing Business in Germany. (n.d.). Retrieved November 29, 2014, from http://www.doingbusiness.org/data/exploreeconomies/germany#starting-a-business
Foreign Businesses in Germany. (n.d.). Retrieved November 29, 2014, from http://www.gtai.de/GTAI/Navigation/EN/Invest/Investment-guide/The-legal-framework/foreign-businesses-in-germany.html
Germany. (n.d.).The Hofstede Centre. Retrieved November 24, 2014, from http://geert-hofstede.com/germany.html
German Government Bonds. (n.d.). Bloomberg.com. Retrieved November 28, 2014, from http://www.bloomberg.com/markets/rates-bonds/government-bonds/germany/
Germany: Introduction.(n.d.). GlobalEdge. Retrieved November 24, 2014, from http://globaledge.msu.edu/countries/germany
Germany - Language, Culture, Customs and Business Etiquette. (n.d.). Kwintessential. Retrieved November 28, 2014, from http://www.kwintessential.co.uk/resources/global-etiquette/germany-country-profile.html
Goethe–Schiller Monument. (2014, November 29). Wikipedia. Retrieved November 30, 2014, from http://en.wikipedia.org/wiki/Goethe–Schiller_Monument
Music. (n.d.). Facts about Germany. Retrieved November 26, 2014, from http://www.tatsachen-ueber-deutschland.de/en/culture-and-media/main-content-09/music.html
National and Public Holidays in Germany in 2014. (n.d.). Office Holidays. Retrieved November 28, 2014, from http://www.officeholidays.com/countries/germany/
The World Factbook: Germany. (n.d.). Retrieved November 30, 2014, from https://www.cia.gov/library/publications/the-world-factbook/geos/gm.html
Women and men in working life. (n.d.). Facts about Germany. Retrieved November 26, 2014, from http://www.tatsachen-ueber-deutschland.de/en/society/main-content-08/women-and-men-in-working-life.html
Yahoo! Finance - Exchanges. (n.d.). Retrieved November 28, 2014, from http://finance.yahoo.com/exchanges