Italy Country Profile Assignment Example | Topics and Well Written Essays - 1500 words

Italy Country Profile - Assignment Example . . Italy is a magic. Explore it† (â€Å"Beautiful Italy,† n.d.). With this notion, it can be perceived that Italy must be a paragon of a paradise in the contemporary perspective. The concept of this paper has been created as to depict the PEST-C aspects of the country, including the Hofstede's perspectives of analyzing the culture of Italy as compared to Canada, and depicting the feasible business venture in the country. Lastly, a conclusive remark will be inscribed. 2. PEST-C Aspects Political/Legal. When it comes to dealing with weak pecuniary locus of the country, Italy has announced to cut its budget amounting to â‚ ¬26bn from the period span 2012-14. In accordance with the Transparency International’s Corruption Perception Index 2011, the country is placed at 69th among 183 nations (â€Å"Italy Country Profile,† 2012, p. 4). In the context of European Union, Italy is deemed as having the highest aggregate tax rate. In accordance with Paying Taxes 2 012, the nation’s aggregate tax rate was 68.5%, which is notably above the average of EU of 43.4%. Such taxes may comprise of profit and labor impositions. Dismally, the nation’s aggregate piracy rate is 49% that has eventuated to procure detrimental losses of â‚ ¬1.87bn; such piracy issues are associated to business and entertainment softwares (â€Å"Italy Country Profile,† 2012, p. 5). ... Furthermore, non-performing loans, such as substandard, restructured, bad, and past-due loans. In accordance with the International Monetary Fund, these loans have incremented to 11% in 2011 from about 6% in 2008. The debt turmoil has become the triggering factor for organizations to be exposed to short-term debts, which are dependent to the lending institutions. Otherwise stated, organizations are doomed to fail because of the potential risks of high interest rates and be liquidated. The worst case is that forty percent of these organizations are exposed to interest rates that are payable within a period of less than twelve months (â€Å"Italy Country Profile,† 2012, pp. 4-5). Social/Cultural. It is significant to consider the demographic profile of a country when it comes to depicting the generality of its social aspects. Therein, cultural aspects will be delved as well in the light of fathoming the demographic facets. In accordance with the CIA World Factbook, the average l ife expectancy of Italy last 2012 was at 81.86 years--comprising of men ages 79.24 years and women 84.63 years (â€Å"Italy Country Profile, 2012, p. 5). That record is notably one of the highest in the world. In the light of macroeconomics, the nation’s aggregate workforce is mitigating (â€Å"Country Intelligence: Italy,† 2012, p. 16) and such a situation will deem as detrimental. In fact, Italy’s unemployment rate was about 8.40% in 2011, which was considerably higher than that of the developed countries. This implicates that Italy’s work environment may be the cause of weakening social aspects that will lead to impact the economy of the country. As a matter of fact, Italy’s employment rate of 56.9% was lower compared to that of the EU average of 64.2% (â€Å"Italy