Italy is a powerful and astonishing country. From the elite and powerful Roman Empire, to the majestic order of the Vatican City and dedication to Roman Catholicism and the Pope, Italy is definitely a country that has had a prominent impact on the rest of the world. Canali & DeCarlo (2009) characterize Italy as a country full of dynamic heritage. Full of passion, Italy has potential to satisfy the appetite of any tourist, enthusiast or historian. Urbanization, elegance, ancient culture and superb cuisine have competitively positioned Italy for the tourist market (Canali & DeCarlo, 2009, pp 8-22). Is this same region culturally prepared for globalization and able to open its boundaries to foreign partners and investors …show more content…
Values and Attitudes
The values and attitudes Italians have towards the concept of time, adaption to change, role of gender and social status should tremendously impact managerial decisions about how global operation will be developed, operated and sustained.
From economically statistics and research collected from the OECD, the Italian economy is developed and has changed dramatically since the end of World War II. It has gone from an agriculturally based economy, to an industrial state ranked as the world's seventh-largest market economy. Italy belongs to the Group of Eight (G-8) industrialized nations; it is a member of the European Union (EU) and the Organization for Economic Cooperation and Development (OECD). Italy has few natural resources. With much land unsuited for farming, Italy is a net food importer. Most raw materials needed for manufacturing and more than 80% of the country's energy sources are imported. Italy's economic strength is in the processing and the manufacturing of goods, primarily in small and medium-sized family-owned firms. Its major industries are precision machinery, motor vehicles, chemicals, pharmaceuticals, electric goods, and fashion and clothing. Italy struggles with a budget deficits and high public