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International Business Essay

5055 words - 21 pages

International Business
United States of America (USA)

Table of Contents
1.0 Introduction 4
2.0 Country’s Profile 5
2.1 Country’s background and history 6
2.2 Population 8
2.3 Language 8
2.4 Religion 9
2.5 Unemployment Rate 10
2.6 Inflation Rate 11
3.0 Trading Partners 11
3.1 Top 3 import trading partners of the most recent years 12
3.2 Top 3 export trading partners of the most recent years Error! Bookmark not defined.
4.0 Business Culture 17
4.1 Business Attire 19
4.2 Punctuality 20
4.3 Greetings 21
4.4 Business Negotiations Style 21
4.5 Non-verbal Communication Style 22
Conclusion 24

Executive Summary
In this report, our group chooses United ...view middle of the document...

The geography and climate of USA is also extremely diverse, and it is home to a wide variety of wildlife. The government system is a constitution-based federal republic with a strong democratic tradition. The chief of state and head of government is the President. USA is a member of the Asian Pacific Economic Cooperation (APEC), North American Free Trade Agreement (NAFTA), and the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA).
Constituting less than one-twentieth of the world's population, Americans generate and earn more than one-fifth of the world's total income. The economy of USA is the world's largest national economy and leading global trader. The process of opening world markets and expanding trade, initiated in USA in 1934 and consistently pursued since the end of the Second World War, has played important role development of this American prosperity. According to the Peterson Institute for International Economics, American real incomes are 9% higher than they would otherwise have been as a result of trade liberalizing efforts since the Second World War. In terms of the USA economy in 2013, it has an estimated GDP in 2013 of $16.7 trillion, 23% of global nominal GDP and 19% at purchasing-power parity.
Furthermore, in this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. USA business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering USA markets.
In addition, USA firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment. The onrush of technology largely explains the gradual development of a "two-tier labour market" in which those at the bottom lack the education and the professional or technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits.

2.0 Country’s Profile
2.1 Country’s background and history
United States of America (USA) is a Constitutional Federal Republic comprised of 50 sovereign states, 48 of which are located in what is referred to as the "America Mainland" and the other two being Alaska, located north of the America Mainland and west of Canada, and Hawaii, a chain of Islands located south-west of the America mainland in the Pacific Ocean. Several territories which are also part of the Union, but not themselves considered states, such as Puerto Rico are also included.
The history of USA started from 16th century. Paleo-indians migrated from Asia to what is now the America mainland around 15,000 years ago with European colonization beginning in the...

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