International business presentation Italy

1. By: Robert Connolly International business presentationItaly

2. Country Information • Population: 60 Million Inhabitants • Of the 60 Millions Inhabitants, over 7.5% are from abroad. • A graph to the right shows the major abroad immigrant groups • Fertility Rate: 1.4 Children per Family • Religion: Roman Catholic • The constant rate of immigration has made Italy a multi-ethnic society. • Even with introduction of new cultures into Italy, the religions of the immigrants are still relatively small.

3. Other Information • Seventh largest economy in the world and fourth largest in Europe. • Present day Italy uses the Euro as currency • Before the Euro, the currency was the Italian Lire. 1.00 USD = 0.74 EUR 1.00 USD = 1,441.48 ITL

4. Things to Know Before Traveling… • U.S. citizens may enter Italy for up to 90 days for tourist or business purposes with a visa. All other purposes need a visa. • Italy has several major earthquake fault lines. • Several active volcanoes • Moderate crime rate • Pick-pocketing, theft from parked cars, and purse snatching are serious problems, especially in large cities. • Strikes and other work stoppages are frequent in the transportation sector.

5. A Few Words… Hi! Goodbye! Thank you! How are you? You’re welcome! Good Morning! See you later! Nothing much Ciao! Arrivederci! Grazie! Come stai? Prego! Buongiorno! A dopo! Non molto English Italian

6. Making Appointments • Italians prefer face to face communication with familiar acquaintances during most business transactions. (It’s difficult, almost impossible, to establish a business relationship with an Italian business person over email) • Punctuality is not a high priority in Italy. Be prepared to wait anywhere from 15 minutes to 45 minutes for an appointment. • The best time to make an appointment is between 10:00 AM and 12:00 PM and then any time after 4:00 PM.

7. Business Dress • Dressing well is a priority • The first reflection of social standing • Italians enjoy designer clothes and often invest in big name brands • High quality fabrics and silks • Cuff links, Tie clips, and Stylish watches are common accessories • Business women tend to wear more make up and jewelry • Perfumes and colognes are common

8. Topics of Conversation Architecture Art & Films Soccer Food and Wine Opera Current Events Culture & History Affairs in Your Home Country Local Landscape Religion Politics Taxes The Mafia World War II “Off-Color” Jokes Italian Stereotypes Criticizing Italian Culture Negative comments about local soccer team Good/Acceptable Topics Bad/Inappropriate Topics

9. Addressing Others • Wait to use first names when addressing someone until they invite you too. “Signore” is the equivalent to Mr. “Signora” is the equivalent to Mrs. • Both of these terms are highly recommended to be used when meeting strangers “Signorina” is the equivalent to Miss. • Commonly used when addressing relatively young females. Best avoided using otherwise.

10. Acceptable Behavior • Prefer third-party introductions • Shake everyone's hand individually upon both introduction and departure. • Italians will not hesitate to embrace someone they know as a greeting • Hand gestures are common, but shouldn’t be mirrored by a foreigner or someone from a different culture. • Smaller “personal bubbles” • Maintain eye contact • Placing the hand on the stomach displays a dislike, typically for an individual • Gum chewing, leaning, and slouching are all unacceptable in public.

11. Gift Giving • Not a standard practice, although it is common for suppliers to send gifts to clients around Christmas time. • Some companies but a value limit for accepting gifts • For dinner invites, it is common to bring quality wine or flowers. Requirements for a gift • Made by a prestigious brand • Alcohol or crafts from home country • Something helpful at work • Good wine or spirits

12. Negotiating • Large companies or organizations tend to have business people who speak English. • Small businesses may speak very little English may require an interpreter. • Be aware that the person you may be negotiating with may not be the decision maker. • Presentations and discussions should be kept clear and simple. • Italians tend to want to only do negotiating with the most important person of the company. • The first goal of negotiating with Italians is to attempt to create a good business relationship.

13. Entertainment • Business breakfasts is unheard of, so best to avoid. • Business lunch is the most common meeting, and will often last a while. • Business dinner will only consist of a small, exclusive group of business people. • Smoking is not allowed in public • Wine should be sipped • Always offer to pay the bill, even though the host will always decline and pay themselves • Dinner parties start at around 8:00pm and go to midnight

14. Dining • Coffee and wine are common drinks • Regional Cuisine consists of: • Fishes • Varieties of Pasta • Meats (Lamb) • Artichokes • Fresh Farm Vegetables • Olive Oil • Many kinds of seafood

15. Comparison to the U.S. Formal wear when appropriate Formal greetings until comfortable Costly, but formal clothing Fastest and easiest form of communication possible Formal wear nearly all the time Formal greetings every time High quality brand clothing In person communication United States Italy