Cultural differences presentation

Population - 41,167,336
Currency : hryvnia (UAH)
Communication and Negotiation Styles
Expect a fair amount of small talk before getting down to business.
Personal relationships are very important. Panamanians prefer to deal with those they trust; therefore, much time is spent in developing the relationship
It will usually take several visits to close a deal. Business is hierarchical and the person with the most authority makes decisions after considering how the decision will affect the group.
Panamanians do not like confrontation so positive signals may be given out of politeness rather than actual agreement.
Likewise, do not assume that your proposal is being well received simply because no one is challenging what you say.
Communication and Negotiation Styles
Patience may be a necessary cross cultural attribute. Hire your own interpreters for meetings and negotiations to avoid any possible cross cultural miscommunication.
Most negotiations involve a team, although the most senior Ukrainian is generally the spokesperson.
Ukrainians can be tough negotiators. If you let the other side know that you have a time deadline, they will delay even further in an attempt to coerce you into making concessions.
Ukrainians will lose their temper, walk out of the meeting, or threaten to terminate the relationship in an attempt to coerce you to change your position.
Meeting & Greeting
• Handshakes are the norm when people meet with one another.
• Business associates with a close relationship may hug or even kiss each other on the cheek.
• Always shake hands with everyone in a room, starting with the most senior person.
Meeting & Greeting
• Ukrainian business people are generally less formal than in many other countries.
• Shake hands with everyone upon arriving and leaving.
• Maintain eye contact during the greeting.
• Business cards are exchanged without ritual.
• Academic and professional titles are commonly used with the surname.
Taxes in panama
• Panama's legal and tax structures make it a pure tax haven....

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