Italy is located in Western Europe and border seven different countries: San Marino, Vatican, Austria, France, Switzerland, Croatia and Slovenia. It is often referred to as the “boot” because of the country’s shape as shown above. Italy is rich in natural resources especially minerals, for example coal, mercury, zinc, potash, and sulfur. They also extract natural gas and crude oil and their fish industry is prosperous. The winters in Italy are mostly cool and humid in the north and little warmer and drier south. The cities around the coast stay warm from the high temperatures of the ocean and the areas of Italy bordering countries with mountains will receive snowfall. Then in the summers the days are usually dry and cool in the north but more dry and hot down south. The mountains surrounding Italy provide a cool breeze and local showers or thunderstorms. Major economic events in recent history. As of July 2017, the population of Italy is 62,137,802 (CIA, 2017). The majority of the population speak Italian, but minorities that live on the border of another country speak French, German and Slovene. 80% of the population are either Christian or Muslim and the other 20% are atheist. As their are 62,137,802 people in Italy and the total land area of Italy is 294,140 km2, so the population density is 202 people per km2. However, the population has been decreasing over the years since 2015, about 60000 per year, therefore their decline in population is -0.12% per year. The average life expectancy of a person living in Italy is 82.3 years, for males it is 79.6 and for females it is 85.1. 99.4% of males in Italy are literate while only 99% of females are literate. Political Information – AMThe Italian government is referred to as a parliamentary republic, which means tLegal Information – AItaly is a democratic republic and Italy has a Constitution that was passed on December 11, 1947.There are 5 steps for a law to become a law:Firstly, the bill is Proposed in the house of (Italian) senate. Secondly it is sent for inspection Approval of bill by the respective chamber. Thirdly is it Reviewed by both Chambers of Parliament and Chamber of Deputies. Fourthly it sent to the President’s for approval of the law, if the president turn downs the bill then it is sent back to chambers and they change it up to meet president’s criteria or is it completely shut down and canceled. Lastly if the president approves then the get published and people must obey or protest if they disagree.The government and the italian police enforces the law. And there sign corruption there and that is as the courts have been described as ” inefficient and the judicial processes as slow”. For the italian police force it is believed that 90% are honest and can be relied on and the other 10% are people who abuse their power such as not following the law and bribery.Italy corruption level is compared to countries like South Africa and Senegal, as it has costed italy €60 billion or 4%t of its GDP each year, but each year there improvement and costly them less. Organized crime, corrupt politician, entrepreneur and businesses has the most effect on international investment as it poses a great of being involved in fraud that you never commited.Child labour laws exist but are not followed because desperation and poverty. Roughly 260,000 children under the age of 16 or 5.2%, are made to work in Italy. About 30,000 of Italy’s 14 to 15-year-olds are at risk of exploitation, toiling in activities that may be dangerous to their health, safety, or moral integrity. There is a direct correlation between high school dropout rate and the employment rate. Italy fully welcomes foreign direct investment (fdi) as it is one of the major contributor to italy’s economy, employing 886,254 workers with overall sales of EUR 498.5 billion. Italy trade laws are made by EU laws and treaties. Women in have italy have struggled to their under the former president Silvio Berlusconi for 17 years, but recently the italian women have spoken up and now italy is going through major transformation involving women. There have been strict laws that protect women from discrimination and crimes or violence against women. There is a higher percentage of women getting jobs and not just any job high level jobs as well.Economic Information – MItaly has a mixed economy, which is the combination of market, command and traditional economies. They benefit from the advantages of having an economy with a great deal of characteristics but also suffer from the disadvantages. A mixed economy distributes goods and services to where they are most needed, which allows for supply and demand. Also, consumers get the best price for their product or service because a mixed economy awards the most efficient producer. As the Italian government is really involved in their economy, they have accumulated a tremendous amount of debt. As Italy is apart of the EU, they use the euro as their currency and 1 euro is equivalent to 1.50 CAD. Natural Economic Resources. GDP per capita and GDP growth rate. As Italy extracts a great deal of resources from the earth, they use these resources to make machinery such as computers and vehicular parts. In 2016, Italy had exported 461.6 billion USD, 20% of their exports are computer parts. Next is vehicles and their parts which count for 8.5% and then electrical machinery and equipments, counting for 6%. Over the recent years, pharmaceuticals has been the fastest growing export in the Italian economy counting for 4.6% of their exports. Italy is apart of the EU, with 27 other countries, this creates an opportunity to create better trade relations with these countries. Italy’s top 2 trading partners are Germany and France as they are reasonably close to Italy and they are both apart of the EU. After those european countries is one of the biggest economies in the world, the United States. Italy likes to reduce the distance between their exports, so they do most of their business in Europe, as the other top trading partners are the U.K, Spain, Poland, Switzerland and Belgium. In 2016, Italy had imported about 404.6 billion USD, the most imported products were vehicles. It accounted for 10.7% of the total imports, next is mineral fuels like oil, which account for 10.3% of total imports. After that it is machinery which includes computer that counts for 10.1% of total imports and after that it is electrical machinery and equipment which counts for 7.7% of total imports. The trading partners for Italy would be the same, Germany, France, United States, the U.K and Spain. Inflation rate (last 5 years) and what this means. Balance of Trade with Canada. Product Imported from …. and Exported to Canada. The Italy unemployment rate is 11.1% in October 2017. This has decreased from the 11.9% that existed in January 2017. Relative price of goods compared to CanadaCultural Information – MAs Italy is surrounded by many different countries, the bordering cities will pick up on the languages. The main language spoken in Italy is Italian, 93% of the population speak this language. The minority languages include Slovene, German, French, Albanian and Greek. When doing business in Italy, you are expected to know Italian or have a person that can translate for you. Business language. Acceptable & Unacceptable. topics of conversation. Non-verbal communication. Use of humour. When doing business in Italy, a person should find a well-connected person who can establish introductions on your behalf. In meetings, if an Italian person is dissatisfied, they will not hide it, they will express their opinions. When negotiating, a person should never make an unrealistic deal, this makes them think that you see them as unintelligent. They will also point out elements of your presentation and display constructive criticism, as they think they are doing you a favour. Status and hierarchy are well respected in Italian business and society, so you should show plenty of respect towards your elders and people in positions of power. A person should be calm and have their ideas ready to be presented and pitched to the people in positions of power. Specific products and services associated with significant cultures or holidays. Customs/Gift giving/Greetings. Business Customs Tipping, gifts, time management. Italy has a huge presence of Christians, therefore they have numerous Christian holidays. The first one in the year is the Epiphany on January 6, it celebrates the two occasions in which Jesus’ divinity was manifested: when John the Baptist baptized him in the River Jordan and when the three kings visited Jesus when he was a baby. It is a national holiday in which all government employees receive a day off, like post offices, schools and educational institutions. Other local holidays that are celebrated include The Feast of St Mark, celebrated in Venice, The Feast of St John, celebrated in Florence, Genoa and Turin, The Feast of St Peter and St Paul, celebrated in Rome and The Feast of St Ambrose, celebrated in Milan. All of these are public holidays and the Italian people usually have a church mass, concerts, carnivals and at night they have a feast with family. International Information – AItaly is the member of g7, World Bank, WTO etc… This means that italy is strongly connected with many nations because they have to work together with group members to increase flow of trade, decrease trade barriers, help people in poverty etc… It is known that italy has a strong bond with many nations because they cooperate on a daily basis. Organization Italy’s roleWTOItaly has a significant part in the WTO as they primarily focus on industrial products, agriculture, services and the productivity of the organization. G7Discuss economic growth, trade liberalization, help developing nations.World bankProvide loans, improving education in developing countries, regulating environmental issues, health systems and economic related affairs.Italy’s international agreements involve italy being a member of European Union (EU), the World Trade Organization (WTO), the Organisation for Economic Co-operation and Development (OECD), the Organization for Security and Co-operation in Europe (OSCE) and the North Atlantic Treaty Organization (NATO).International disputesAs we know italy is a member of many international organizations, therefore they have strong foreign relations with several nations. These nations include Canada, US, Eu members. Through this italy international business flourishes because now trade is done smoothly, elimination of trade barriers, economic growth and development and prevent fraud. Infrastructure Analysis – AItaly is known for very attractive and historic infrastructure such as the Rome coliseum. Italy has modern infrastructure but compared to other western countries, it’s considered as poorly designed and wouldn’t meet criteria of well performing infrastructure. The entire country is well connected through an large-scale system of railways, expressways, national roads, airports and seaports. Italy have the necessary infrastructure to support trade. As of communication transportation Italy is well developed and dependable but despite that Italy’s ICT fall short against other EU nations. Information regarding, banking system, use of technology, ethics, environmental issues, international finance, there is no negative report that pops up although these sectors have room for improvement. As of terrorism, Italy was known to have gangs and the mafia terrorizing the Italian population, it was thought that mafia related accidents had decreased. However, the mafia and gangs are causing chaos and the government is trying their best to settle these issues. In 2012, Italy had the most pollution-related deaths in Europe. Over 84,000 people in the country died. The pollution level rises and decreases, but mostly level stay high. Pollution level decrease and increase because the air pollution by the transportation industry (cars, trucks, buses) is the main contributor to pollution and since the country is very busy and people are always moving, it makes it difficult for government to combat this problem effectively. Since Italy has been adapting to electric transportation and clean transportation very slowly, it can take many years to effectively decrease the pollution levelsIn italy the only transportation problem is that there are too many cars that run on diesel which directly affects the climate change conditions. To resolve this problems, electronic transportation or vehicle that create less emission ( cleaner vehicle) to be manufactured in large quantities and encourage (market/advertise) the citizen to be cleaner.ongoing ethical issues that need to be addressed before more trade would be considered by either new companies or the ones already doing trade with this country include Hierarchy and Decision-Making, Relationships and Communication. Italy has a very extensive percentage of small and medium-sized family-owned enterprises (SMEs), and even some of the largest corporations are still controlled by single families (for example Fiat, Ferrero, Benetton, Mediaset, etc.). Because of the strong family existence in the Italian community the management structures are usually weak and very hierarchical. Majority of the decisions are made by the owners of the business, by the family or by the very few key individual decision makers in a company.A manager’s power is determined by the strength of the relationships that individual has with the senior management and/or the owner of the business so maintaining or improving current relationships with the important decision makers (owners) is very crucial because that will determine whether your company has a deal agreement or not.Lastly Italian communion style during the meeting is very antithetical to how communication style around the world. In a typical meeting all participants will contribute to the conversations but may do so by interrupting others, holding side conversations, coming and going from the meeting while it’s in session, or speaking on the mobile phone without excusing themselves. Also, a delay in the start of a meeting is permissible.