Introduction Panama has a population of 2.4 Million people and is one of the smallest countries in Central America. Its ethnic composition is 70 percent mestizo (a mix of Indian and European), 14 percent West Indian, 10 percent European, and 6 percent Amerindian. Panama is a multiparty republic, with a president, two vice-presidents, a cabinet, a unicameral legislative assembly serving 5 year terms, and a supreme court. The president is the head of state and the head of the government. The official language is Spanish. Because of the extensive U.S. influence, most Panamanians are bilingual in Spanish and English. The majority of the people (94 percent) are Roman Catholic, although Panama has no official religion. There are also small numbers of Protestants, Muslims, Hindus, and others. |
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Fun Fact Columbus
reached Panama in 1502 on his fourth and final voyage to the New World.
The country was
first explored by Balboa in 1513. The Panama Canal was completed in
1914 and is under control of the U.S. . It is due to return to Panamanian
control on 31 December
1999. |
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Geert
Hofstede Dimensions
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The Geert Hofstede analysis for Panama is similar to its Latin American neighbors. There is a high power distance indicating that inequalities of power and wealth have been allowed to grow within the society. Uncertainty avoidance ranks high which indicates a high concern for rules, regulations, controls and issues with career security typically, a society that does not readily accept change and is risk adverse. Individualism ranks lowest which signifies a society of a more collectivist nature and strong relationships where everyone takes responsibility for fellow members of their group. More Details |
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Appearance Conservative business suits are appropriate for men. Panamanian businessmen in higher positions wear suits; others wear camisillas (a lightweight, open-necked shirt that is not tucked inside the trousers). Women should wear a dress or skirt and blouse. Women should avoid wearing any kind of revealing clothing Most North American gestures are understood |
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Behavior Panamanian women are taking more and more managerial jobs, but still it is relatively rare. Women should emphasize the fact that they are representing their company Have business cards and other material printed in Spanish as well as English When dining, the host usually sits at one end of the table with the guest of honor at the other end Foreign businesswomen should always include spouses in invitations to business dinners Gifts are not normally exchanged when entertaining |
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Communications Handshaking the custom; old friends embrace Titles are important and should be included on business cards. Address a person directly by using his or her title only. A Ph.D or a physician is called Doctor. Teachers prefer the title Profesor, engineers go by Ingeniero, architects are Arquitecto, and lawyers are Abogado. Persons who do not have professional titles should be addressed as Mr., Mrs., or Miss, plus their surnames. In Spanish these are:
Most Hispanics have two surnames: one from their father, which is listed first, followed by one from their mother. Only the fathers surname is used when addressing someone In business, conversations begin with much small talk Good conversation topics: family, hobbies, basketball, baseball Bad conversation topics: former Canal Zone, race problems, politics |
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Panama Resources International Business Center Newsletter free subscription International Career Center - Information on international careers and jobs |
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Countries
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Africa Argentina Australia Brazil Canada Chile China Colombia Costa Rica Ecuador Egypt El Salvador France Germany Great Britain Guatemala Hong Kong India Indonesia Italy Japan Mexico New Zealand Panama Russia Saudi Arabia Spain Taiwan United Arab Emirates United States Venezuela |
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Regions
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Resources |
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Thanks
to the Global MBA graduates that work diligently on collecting the
information on this site
University of Texas at Dallas - M.B.A. International Management Studies |
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Page authored by: Joni Nicol |
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