Factors that Affect Profitability Essay -- Business, Exporting, Forei

Procedures that you need to follow when exportingAfter establishing that second Korea is an parsimoniousness with an increasingly more liberal economy, there argon some problems for extraneous direct investment, mainly through non- hydrofoil and burdensome regulations (Heritage insertion). In gild to calculate it a step further and to perform a complete compend of the business environment, it is necessary to compare the business processs when doing business. As an industry, the importings of foreign goods procedure will be analyzed and contrasted with neighboring countries in order to hit a complete snapshot of the business environment. Firstly, The country of interest southeasterly Korea. In what the import of foreign goods is concerned, South Korea has a relatively speedy and easy process. Importing procedures are estimated to take 7 days, (2 days for to each one preparation of documents, port handling and inland handling and approximately 1 day for customs clearance). T he equal of the procedures for the 7 days is estimated to be $790 (World coin bank Doing Business, 2011). This information, at first glance seems positive. The procedures are fairly quick and the $790 terms is not an absurd amount of money paid in order to import goods. The bureaucracy is simple. The documents needed are the bill of lading, customs import declaration and terminal handling receipts (World Bank Doing Business, 2011). Corruption cognizance baronThe latest corruption perception index by transparency international in 2008 includes five sets of data. These include the 2008 Corruption Perception Index (CPI) score, the amount of surveys used, the standard deviation, the high low range and the confidence range. in the lead the analysis of the data, it is important to understand what ea... ...). The Heritage Foundation has ranked South Korea with a very low score of 55 out of 100, which office imply that corruption is widespread and there is still a recollective way t o go to have a positive rating. (Heritage Foundation, 2011)10)Labor libertyLabor freedom has the lowest score of 46.5 out of 100. This shows that there are various problems regarding labor, a clear example is the very high cost of firing an employee whilst the non salary cost of employing a worker are moderationist (Heritage, 2011).In conclusion, the overall freedom of the country is relatively positive. The ratings of the Heritage Foundation are fairly high, above the world average for the most part. Additionally, the governing involvement in business is quite low compared to other countries and at least it is not widespread to a degree to which investors would be alarming to engage in business.