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A country's political economy applies to its legal, fiscal, and political processes, which are interdependent and control and engage with one another, influencing the economy's well-being. Any country's political structure is a governance system that can be measured in two dimensions. One dimension is whether they are authoritarian or egalitarian. The other factor is the degree to which the regime favors collectivism over individualism as the country conducts its business. This paper will look at the various significant historical events in Columbia that might have influenced the culture of business in this country and then give an opinion on whether the present-day Columbian economy is robust enough to support the growth of a sports drink industry.
One of the most significant recent events that have happened in the Columbia influencing the business culture of this country is the foreign direct investment. The country over last few years has seen more direct investment than it has ever been recorded before. Since the early 1990s, the Columbian government has many economic reforms among them the economic liberation reforms that have seen the country attract investors from all over the world (Hill, 2014). To attract as many investors, Columbia has undertaken steps such as imposing similar investment restriction to the national investors as it does to the foreign investors. This has attracted many foreign investors since the business environment is very suitable for them.
Liberalization in Columbia has advanced to other vital sectors within the country such as the accounting, energy, telecommunications, insurance data processing and even advertising industries. All with the aim of improving the economic condition of the country. Foreign investors can participate in any industry they like to venture in with the full support of the government.
Another major event to happen to Columbia is the war on drugs. Columbia for many years has been known to have one of the most notorious drug lords who held the country hostage with their harmful activities. Majority of the country’s youth had engaged in drugs either making drugs or using them leading to a major concern and the rise of war on drugs. War on Drugs had been a great impact in Colombia in both the country and the business itself. The War on Drugs had a great impact because the illegal drug trades that were taken place with the kidnapping of children and young teens (Hill, 2014). With such violence taking place, the area had to be on locked out for protection.
Starting a business in Colombia for the first time can be difficult due to the fact is ranked 61 compared to the United States on rank 13 from the source doingbusiness.org. Slowly Colombia is getting better due to the fact it had climb four ranks from the previous year (U.S. Department of State, 2013). The Colombian economy today have improved to greater heights, and I do feel that it's sufficiently robust to promote the growth of the soft drinks industry since there are some other companies that have already successfully started the business.
The desire of Columbia to change is making the country have the desirable climate to do business, and I do believe the political climate of this country will be supportive of Zip-6 entry into the sports drink market. The Columbian government has put in place proper laws to ensure that the investors such as Zip-6 entry are welcomed and settle in quickly. As much as the country is not perfect today, it is certainly better than previous years, and new industries such as sport drinks industries are currently taking shape and is a perfect opportunity.
Hill, C.W.L. (2014). Globalization. (8th ed). Global Business Today. New York, NY. McGraw-Hill/Irwin
U.S. Department of State. (2013). 2013 Investment Climate Statement. Retrieved from http://www.state.gov/e/eb/rls/othr/ics/2013/204622.htm
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