Doing Business in Mexico Like many other authors, I have often commented about the “trust” issue in business. According to author Francis Fukuyama, “trust” is a human capital that determines the way society develops business. “Trust,” according to Fukuyama, is the probability within a culture that two people who do not know each other are […]
Continue ReadingDoing Business in Mexico When I was in college, national development was a hot topic. We pondered over why some countries develop their economies faster than others. One popular notion was that for countries to develop quickly, their citizens had to have a strong internal sense of control and see their destiny as residing in […]
Continue ReadingDoing Business in Mexico A reality of any manager’s life is attending and calling staff meetings. Another reality is that most managers complain staff meetings are a “waste of time.” When meetings involve Mexican and Anglo-American managers (including most Canadians in the second group), the issue of time-management becomes salient, and in my experience, one […]
Continue ReadingDoing Business in Mexico When U.S. executives are sent to Mexico, they soon hear that Mexicans are “indirect” and “will not give you a straight answer, “especially if what needs to be communicated is unpleasant.” Thus, the generalized statement about the Mexican “vagueness” is often heard among foreigners residing in Mexico. But vagueness is only […]
Continue ReadingDoing Business in Mexico The topic of business ethics is one that too often ends up on the back burner, unless you happen to be a social activist. In business circles, the topic arouses as much interest as a turtle race. The logic of business, chiefly concerned with profit maximization, usually places ethics within the […]
Continue ReadingNote: The Mexican tax system has been updated numerous times since this article was first published; always check with a reputable accountant for up-to-date information. The Mexican tax system has been subjected to comprehensive tax reform legislation, enacted principally in 1986 and 1988. The dramatic changes are an attempt to make it compatible with the […]
Continue ReadingImporters will use a customs broker (a private-sector provider of services) of choice to obtain release of the merchandise. The customs agent will provide to importers all necessary information relating to applicable duties and non-tariff regulations. The customs entry will be accompanied by: the commercial invoice, when the customs value of the merchandise is determined […]
Continue ReadingDoing Business in Mexico A key tool for understanding cultures is examining how people communicate with one another. The kind of topics people bring up in conversations often reflects the themes considered important by their culture. Likewise, the manner in which people speak often reflects cultural values. For example, people from the mainstream United States […]
Continue Reading“What works here ought to work in Mexico.” Not so. You cannot transplant Canadian or US techniques, methods and management styles without adapting them and expect them to work successfully. “What is new and modern is the most effective.” What is new and effective in one environment, will not automatically work in a different culture […]
Continue ReadingDoing business in Mexico is very different than in Canada and the US. The values, social practices, managerial methods, and belief systems of the Mexican worker and Mexican manager are different. They are so different in certain areas that the Canadian/US manager or business person who does not take the time to understand these differences […]
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