Mexico has become amongst some of the world’s emerging economies in the last decade, largely exporting petroleum crude oil and manufactured car parts to many countries around the world. In doing so Mexico trades hugely with the U.S and a number of countries within Europe and Asia such as Germany and China, whereby they all share different cultural aspects in each one of their lifestyles. This report gives an insight into Mexico’s culture and how this integrates with the way Mexican’s look to carry out business with potential partners, which can prove to be challenging for people that are not accustomed to their system. We have looked at several factors in order to give ourselves a clearer perception of the Mexican culture by using Hofstede’s
Dimension model. Additionally we have taken into context how we would consult foreign business officials to understand the Mexican culture as it may differ significantly to their home countries.
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Introduction
The country is one of the most important emerging economies and is renewing its efforts to become a leader in the region (The World Bank, 2013).
“All lasting business is built on friendship” – Alfred A. Montapert
Mexico is the largest trading nation in Latin America. Latin American countries are one of the undisputed engines of today's world economic growth (Mexico Doing Business Guide, 2013). It is a dynamic industrialized country with advanced automotive industries and a developing aerospace sector. It is investing heavily in infrastructure projects. Mexico is a firmly established G20 economy and is predicted that within 30 years it will be a bigger economy than the UK. Both the UK and Mexico are seeking to diversify their markets and their trading and manufacturing relationships (Chris Sladen, Country Head, BP Mexico, 2013).
The geographical size is the same as the whole of Western Europe. Mexico benefits from a strategic trading position, being the natural bridge between Latin America to the south and the United States and Canada to the north. Free trade agreements between Mexico
