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University:Student’s name:Course:Tutor:Date:Different countries have different ways of doing business. Some legal requirements or practices of doing business that may be seen as normal in some countries may appear absurd in other countries (Hill 2015). For this reason, it is important to study the cultural differences in doing business in different countries to enable easy adoption and preparation of business people wishing to expand their businesses beyond the boarders for of their parent countries. In this case, the cultural differences among North Korea, Brazil, and South Africa will be studies under the subtitles of either an established or a market economy, a communist or a state- led economy, a weaker or newer democracies. The primary difference that exists between the three countries is in the control of their economies. While Brazil and South Africa have established market economies, Korea has a state- led economy (Hill 2015). In Brazil and South Africa, decisions regarding investment, distribution, and production are based on supply and demand, and the prices of goods and services are determined in a free price system. On the other hand, in North Korea, the state controls the means of production by involving governmental agencies in production planning (Hill 2015). Another aspect of difference among the three countries is the strength of their economies. Brazil and South Africa are experiencing rapid economic growth, hence are becoming stronger democracies (Hill 2015). Stronger economies provide favorable environments for conducting business activities by availing the necessary means of production. On the other hand, the current North Korea’s weak economy is most likely to result in severe shortages or raw materials, energy and other necessary factors of production (Hill 2015). For these reasons, stronger economies such as Brazil and South Africa are preferred by investors for investment to weaker economies such as North Korea. ReferencesHill, Charles W.L. (2015). International Business, Tenth Edition: McGraw-Hill Irwin, ISBN # …
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