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Differences in Location of Business (Working in a wide variety of…
Differences in Location of Business
Less Flexibility
Wide variety of laws to follow
Unknown culture norms
Common to exchange gifts during first business meeting in Qatar
Religion is a big part of the culture in Qatar, respecting Islamic norms is very important in Qatar
High Barriers of Entry
Initial large capital investment
Dealing with a multitude of currencies
Quality standards generally much higher
Potentially high tariffs
Not as much of a problem as it was in the past however
More Customers
More cultures within the business
More potenital business
Qatar has a quickly growing population, doubling in the last 8 years
Working in a wide variety of countries
Woking with many cultures, some with unstable governments
Qatar currently has constitutional Monarch
Qatar has a very low corporate tax rate and has no income tax on employee wages
Globalization
Increased greatly in the last decade
Has lowered barriers and made international business much more common
Transportation costs have decreased
Increased trade agreements
NAFTA
The European Union
ASEAN
Increased competition
Can lead to lower cost goods and services
A Central Strategy
Most workers from Domestic Country
Less Diverse Workfoce
Low Barriers of Entry
Lower capital investment
Easier to manage
Less laws and less governments to track
More Political Stability
Deal in One Currency
Domestic Business
International Business
Homogenous Customers
Known Culture
Less Customers
Different business hours: Friday and Saturday considered weekend in Qatar