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SPAIN'S ECONOMICS.
Term Paper ID:24859
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Essay Subject:
Overview of nation's politics, culture, fiscal condition, business opportunities, relationship with European Union.... More...
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6 Pages / 1350 Words
13 sources, 16 Citations,
MLA Format
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Paper Abstract:
Overview of nation's politics, culture, fiscal condition, business opportunities, relationship with European Union.
Paper Introduction:
SPAIN AND THE EUROPEAN UNION
Introduction
This research reviews the relationship between Spain and the European Union (EU). The implications of this relationship for international management also are addressed.
Environmental Characteristics of the Spanish Market
The environmental characteristics of the Spanish market are addressed in five contexts. These environmental contexts are political, cultural, economic, regulatory, and technological.
Political
Spain has a population approximating 40 million, with a population growth rate slightly higher than that for most western European countries. Major ethnic groups include Spanish (Castillian, Valencians, Andalusians, and Asturians)—72.8 percent of the po
Text of the Paper:
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The Spanishgovernment presented a budget designed to bring the country into compliancewith the budget deficit/GDP criterion in 1997; however, the country's plandid not succeed in 1997. Material incentives are employed to promote economicdevelopment and property rights are preserved in the Spanish economy (Ecija77 ).Economic Within a classification structure of capitalism, market socialism, andplanned socialism, the Spanish economy falls within the realm ofcapitalism, in spite of the fact that the country had a socialistgovernment for most of the period since the restoration of democraticgovernment (White 4). Business strategies do not require major modification for entryinto the Spanish market (Casella 4 1). Spain performs relatively well in the context of incomedistribution. percent of the country's gross domestic product (GDP). 4. Only Castilian may be taught(and must be taught) across Spain. Long-term domestic interest rates must be no more than 2. E. The Castilian language, by contrast, isprotected and promoted both in Castile and in each of the autonomousregions (Mar-Molinero 328).Legal Decision-making is decentralized, and is becoming progressively moreso each year. Appropriate Strategy For Multinational Corporation Entering the Spanish market The advent of the Single European market within the EC caused Spanishfirms to begin planning for Community-wide expansion and joint ventures asa means of remaining competitive. "Linguistic Nationalism and Minority Language Groups in the 'New' Europe." Journal of Multilingual and Multicultural Education 15 (April 1994), 319-328.Odom, W. Spain continues to experience a problemwith inflation, but the conditions are improving dramatically. The implications of this relationship for internationalmanagement also are addressed. Works CitedBarnard, B. New York: St. This outcomeis achieved through a dedication to the concept of ethical interdependencebetween the individual and the broader community and through the virtualelimination of inequalities within the cooperative. Multinational firms based in the larger developed economies mayanticipate participation in the Spanish economy in the 199 s on much thesame footing as they approach the conduct of business in their homecountries. Theimplications of this relationship for international management also wereaddressed. The accumulated public debt of a member country of the ECmust not exceed 6 . Spain is a member of NATO,and there has been no serious opposition to NATO within Spain (Odom 4 ).Cultural Spain in the 199 s is a federal state that incorporates 17 autonomousregions (Mar-Molinero 325). The foreign currency exchange rate for an EC membercountry's currency must have remained within the narrow band (+ 2.5percent) for a period of two years without realignment. Staffing in Spanish firms has assumed an increased multiculturalmix as the transformation progresses (Casella 4 1). The EU target for implementation of the singlecurrency is 1 January 1 1999 ("Currency Union" 1). The Treaty of Maastricht established theconvergence criteria for participation in the single currency ("Maastricht:Europe Celebrates" 55). While technologicalinnovation in Spain is not as strong as in larger European economies, NorthAmerican economies, and Japan, the application of technology is aspervasive in Spain as in any of these economies (White 4). Participative management was originated in the UnitedStates; however, many American business firms continue to practice anauthoritarian style of management. Summary This research reviewed the relationship between Spain and the EU. Each of these regions is granted thelinguistic right to promote the first language of the region on an equalbasis with Castilian; however, none of the regional languages may be taughtoutside of the home region of the language. These environmental contexts are political, cultural,economic, regulatory, and technological.Political Spain has a population approximating 4 million, with a populationgrowth rate slightly higher than that for most western European countries.Major ethnic groups include Spanish (Castillian, Valencians, Andalusians,and Asturians)-72.8 percent of the population, Catalans-16.4 percent,Galacians-8.2 percent, Basques-2.3 percent, and Navarrese, Aragonese, andGypsies, which together constitute .3 percent of the population (Hunter1586). "Intellectual Property Protection for Software in Spain." John Marshall Journal of Computer and Information Law 14 (Summer 1996), 767- 778."From Here to EMU." Economist 336 (5 August 1995): 72.Hunter, B. Current Economic Developments Spain's production possibilities are increasing, as a result of thegovernment's efforts to attract foreign capital to the country (Barnard2B). The convergence criteria are as follows ("FromHere" 72): 1. The country continues to be plagued by violenceperpetrated by Basque separatist organizations. Although the cooperativeapproach to business organization in Spain, when it is used, does notreduce the ethics of the organization to the utilitarian concept of thegreatest good for the greatest number, this outcome nevertheless isattained at many cooperative enterprises in Spain (Bruyn 91). Thecritical unemployment problem is also beginning to improve. American businessfirms have been moving in the direction of organic structures for a numberof years. As a consequence, the country's economic efficiency is trendingupward. Spain and the European Union Introduction This research reviews the relationship between Spain and the EuropeanUnion (EU). Spain is, in the 199 s, experiencingsignificant levels of immigration from both Africa and Latin America. Business Opportunities and Threats Confronting Spain Spain has not met the convergence criteria for participation in theunified European currency. Minority language rights inSpain are recognized through the country's bilingual education policiesonly in those instances where links exist between cultural identity andterritorial identity within Spain. 3. While this assumption is likely correct, the policy led tocharges that the privatization of the Spanish telecommunications companywas simply a case of the government assuming all of the cost of developinga profitable business enterprise, and then practically giving it away tothe private sector (Zoller 2).Technological Technologically, Spain is an advanced nation. Thelanguage problems of these immigrant groups, however, are not addressed inthe country's bilingual education policies. "Spain Prepares to Fight for EU Grants." Financial Times (18 November 1997), 4.Zoller, E. The Statesman's Year-Book, 1997-1998. A failure to meet the criteria alsowill be an indication of substantial on-going problems in the Spanisheconomy. percent of the country's GDP. T. Community-wide expansion has introduceda more decentralized control function into Spanish business organizations.Similarly, organization in Spanish firms has become more organic in natureand less mechanistic as this transformation occurs. (Ed.). "Large Countries, Small Countries and the Enlargement of Trade Blocs." European Economic Review 4 (February 1996), 389-426."Currency Union-Benefits and Risks For Agribusiness." Agra Europe (22 December 1995): 1-3.Ecija, H. "Capital Injection Lets Iberia Airlines Get Back to Its Search for partners." Journal of Commerce and Commercial (18 December 1995), 2B.Bruyn, S. Environmental Characteristics of the Spanish Market The environmental characteristics of the Spanish market are addressedin five contexts. Spain has a foreign currency ratio of 3.5 percent. The expectation is thatthe new single currency will become the general means of exchangethroughout the EU by around 2 2. InSpain, government policy is that privatization is delayed until the publiccompany begins profitable operations. percentage points higher than the average of the three lowest prevailinglong-term interest rates among all EC member countries. 5. Stanford, California :Stanford University Press, 1991.Casella, A. Martin's Press, 1997."Iberia Privatization Looms, but Not Before Profits." Interavia, May 1987, 4 6."Maastricht: Europe Celebrates." Economist 328 (22 May 1993): 55, 57.Mar-Molinero, C. An EC member country's governmental budget deficit must benor more than 3. While not all of the factors of production in Spainare in private hands, the Spanish government has in progress a massiveprivatization program, which is intended to return all of the country'sindustry to private sector control.Regulatory In Spain, the former Socialist government initiated the privatizationof Iberia Airlines and the national telecommunications company in order toreduce governmental subsidies ("Iberia Privatization Looms" 4 6). Relevant Ethical Issues In the Basque Province especially, the cooperative organization ofbusiness enterprises is encouraged in Spain. Domestic price inflation must be no more than 1.5 percentagepoints above the average of the three lowest rates of inflation among allEC member countries. Should Spain fail to meet the convergencecriteria by 2 2, the country may expect to experience economic problemswith a decision of many multinational companies to rethink theirparticipation in the Spanish economy. "NATO's Expansion: Why The Critics Are Wrong." The National Interest (Spring 1995), 38-49.White, D. A Future for the American Economy: The Social Market. Increasedmulticulturalism has characterized American organizations for a decade.Participative management has characterized leadership in Spanish firmssince the 196 s. 2. The government believes thatprivatization prior to profitability would depress the market value of thecompany. Spain is a constitutional monarchy which functions as a parliamentarydemocracy (Hunter 1587). "EC and the Spanish government to Meet on Derogation Plan." Telecom Markets (4 July 1996), 2-4. The structure of income distribution is Spain compares wellwith that in the United States.
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