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German Busiiness

For Germ290 at CSUSB

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German Busiiness

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  1. German Businessand Economy By Keith Ramsey

  2. History of German Business and Economy • German Industrial Revolution • Germany after WWI • Lost the war • Caused the Great Inflation • The Great Depression • Hitler Era • End of WWII (Split Germany, East and West)

  3. History cont. • Reconstruction for Western Germany • Capitalist Economy backed by The Allies • Resurgence in the 1950’s, The Economic Miracle of Germany • East Germany slower to recover • Socialist Economy controlled by Soviet Union • Unification – East and West Unite • July 1, 1990 first time in history that a capitalist and a socialist economy had suddenly become one

  4. Social market economy • Social market economy • Social Market economy - Social was used instead of socialist, to show that they wanted an economy that helped the workers and middle class as well as the wealthy. Market, used to show wanted economy free of state intervention. • Ordnung • German concept directly translate to order or economy that is structured but not dictatorial.

  5. German Economy Today

  6. German Business Current Events German GDP drops by 3.8%, largest decline in 40 years Germany seals deal to save Opel Germany car sales rise

  7. Other German Speaking Countries Switzerland Austria Rank 25th in the world in GDP at $415.321 billion GDP Growth rate was 3.1% in 2008 2008 Unemployment rate 4.4% • Rank 21st in the world in GDP $ 492.595 billion (2008) • GDP Growth rate was 3.9% in 2008 • 2008 Unemployment rate 3.1%, and currently at 3.6

  8. List of GDP by Country • 2008 List by the International Monetary Fund (in millions) 1 United States $14,264,6002 2 Japan $4,923,761 3  China (PRC) $4,401,614 4  Germany $3,667,513 * 5  France $2,865,737 6  United Kingdom $2,674,085 7  Italy $2,313,893 8  Russia $1,676,586 9  Spain $1,611,767 10  Brazil $1,572,839 21  Switzerland $492,595* 25  Austria $415,321*

  9. Forbes Lists Forbes Best Countries for business • 1 Denmark • 2 United States • 3 Canada • 4 Singapore • 5 New Zealand • 6 United Kingdom • 7 Sweden • 8 Australia • 9 Hong Kong • 10 Norway • 11 Netherlands • 12 Belgium • 13 Finland • 14 Ireland • 15 Switzerland • 16 Germany • 27 Austria Forbes Global 2000 • General Electric (US) • Royal Dutch Shell (Netherlands) • Toyota Motor (Japan) • ExxonMobil (US) • BP (United Kingdom) • HSBC Holdings (United Kingdom) • AT&T (US) • Wal-Mart Stores (US) • Banco Santander (Spain) • Chevron • Volkswagen Group (Germany) • Nestle (Switzerland) • Siemens (Germany) • Deutsche Bank (Germany) • RWE Group (Germany) 58. Roche Holding (Switzerland)

  10. Europe’s Richest Karl Albrecht (Germany) 2009 Net Worth: $21.5 billion Theo Albrecht (Germany) 2009 Net Worth: $18.8 billion Michael Otto and family (Germany) 2009 Net Worth: $13.2 billion Susanne Klatten (Germany) 2009 Net Worth: $10 billion BMW heiress Ernesto Bertarelli (Switzerland) 2009 Net Worth: $8.2 billion. August von Finck (Germany) 2009 Net Worth: $6.7 billion Curt Engelhorn (Germany) 2009 Net Worth: $6.3 billion

  11. German Business Culture & Etiquette • German Business structure • Most power vested in a few senior managers or supervisory board. • Management Style • German manager-subordinate relationship is distant and cold. Not unheard of for people to work together for years and never socialize. • Meetings • German companies tend towards the development of specialists, rather than generalists • Communication style • Germans put truth and directness before diplomacy, believing that the fact is the important issue and that personal emotions should not deflect the truth from being spoken. • Other Tips • Germans are uneasy with uncertainty and ambiguity • In-depth, long-term planning is both expected and respected. • The greatest amount of respect is due to the person with the greatest depth of technical merit. • Outbursts of emotion in the workplace (anger, frustration etc.) are seen as signs of weakness and lack of professionalism. • Employees expect to be given precise, detailed instructions regarding specific tasks, but then expect to be left to carry them out without undue interference or supervision. • Relationships between bosses and subordinates tend to appear somewhat formal. • Humor is generally out of place in the work place. You should certainly avoid humor in all difficult or important business situations. However, when socializing with Germans you will find that they are as keen to enjoy themselves as you are.

  12. Bibliography http://www.bundesbank.de/index.en.php http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) http://en.wikipedia.org/wiki/List_of_countries_by_exports http://en.wikipedia.org/wiki/Economy_of_Germany http://www.businessgerman.com/business-knigge/home.html http://www.bloomberg.com/apps/news http://www.germanculture.com.ua/library/facts/bl_economy.htm http://www.cesifo-group.de/portal/page/portal/ifoHome/a-winfo/d1index/10indexgsk

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