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Doing Business in the Midst of Cultural Change: South Africa: Specific Industry Analysis - Essay Example

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This paper attempts to analyze the industry in South Africa and in particular discussing the effects of the social change and global economy on that industry. This paper is also aimed at writing an essay in regard to a ten day travel course to South Africa and analysing the industry in the country. …
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Doing Business in the Midst of Cultural Change: South Africa: Specific Industry Analysis
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Doing Business in the Midst of Cultural Change: South Africa: Specific Industry Analysis

This paper is also aimed at writing an essay in regard to a ten day travel course to South Africa and analysing the industry in the country. The travel started from 6th January, 2012 and ended in 19th January, 2012. The paper is aimed at describing business patterns of two companies in the service sector of the country, Grand Thornton and Deloitte. The paper also argues on several impacts of economic aspects on the service industry of the country in the face of global economic conditions. Doing businesses in South Africa: In the tour I have found that the government of the South Africa with the help of its various departments has been helping the country to increase the level of economic development. This process of improvement of economic structures and conditions has been possible through development of business conditions. I have found that the Department of Economic Development has been responsible for creating positive economic and developmental conditions by implementing various economic policies. These policies have been implemented with expansive and cross-cutting focus in order to increase the potentiality of structures of working mechanisms of various macroeconomic and microeconomic policies. The department collaborated with other departments and created effective mechanisms through use of appropriate economic policies to augment the path of economic development in the country. ...
Small, medium and large business organisations have been given significant opportunities in the country to do business in effective and efficient manner and to earn profits. Another major goal of this large investment in developing business perspectives, structures and conditions has been to increase the level of foreign direct investment invested in the country’s economy, which is expected to come out of the profit of those business organisations. This investment is expected to further increase the level of economic development in the country by increasing availability of different goods and services in the country. This further increases the rate of economic growth as well as the rate of growth of employment. Separate sections of budget have been allocated for separate purposes. These sections include policy development works, for which R18.2 million has been invested, augmentation of economic planning and cooperation, for which R25.8 million has been allocated. Investments have also been made for augmenting the level of capital accumulation, for which a total of R44, 8 million has been allocated. Apart from these some other investments are made in development of economic conditions and dialogue, for which 11.2 million has been allocated. Budgets have also been allocated to small business funding which has created significant positive impacts on development of small businesses in the country (Doing Businesses in South Africa 70-71). The South African Micro-Finance Apex Fund (SAMAF) has been the largest financer of funds to small businesses, for which R152 million has been invested. Competitions authorities have also received funds from the government for the purpose of strengthening their working capabilities, for which R102 million has ... Read More
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