Ana Costa
School of Business
Oral Roberts University
Oklahoma Governor Conference
on Global Education
Stillwater, Oklahoma
February 9, 2010
• The Goldman Sachs report, from 2003, speculated
that by 2050 the BRIC (Brazil, Russia, India and China)
countries would be wealthier than most of the current
major economic powers.
• These countries are not forming a political alliance,
but a powerful economic bloc.
Brazil, Russia, India and China:
•Account for more than 25% of the world’s land area
•Have more than 40% of the world’s population
•In the 1990’s, all these countries went through
economical and political reforms
•These governments have greatly supported domestic
consumption, FOREIGN INVESTMENT, and education
•Fifth biggest population and area in the world
•The Brazilian economy is ranked as 10th in the world
and 2nd in the Americas, according to the World Bank
ranking, measured by purchase power parity.
•Brazil is a member of diverse economic organizations
(Mercosul, G20, and G8)
•Very receptive culture, that received a great variety of
immigrants (Europeans, Africans, and Asians) and that
blended with the land.
•The country imports and exports many products that
vary from food (Coffee, Soy, and bananas) to aircrafts
(Embraer).
Possible situations and cultural differences that you
might face when doing business in Brazil:
•If you set up a meeting with Brazilians, you might
noticed that they will probably show up about 15 or 20
minutes late.
*Do not take it personal! The participants of the
meeting are not showing disrespect, it is acceptable in
the culture. By showing discontent, Brazilians might see
you as inflexible and not willing to adjust to difficulties
•In the business scenario, it is common for Brazilians to
ask questions about a person’s family and a little of the
personal life.
*In case somebody asks you personal questions, do
not feel intimidated or “out of your comfort zone”, that is
just a way Brazilians use to show that they are interested in
you too (not just the business) and it is a common way to
“break the ice”
•Brazilians do not plan far ahead. They might talk
about it, but they will take actions right away when it
concerns the future
* For a long time, the Brazilian economy was very unstable
and unpredictable, so it was very hard to plan ahead
(specially in the financial area). So, for example, thinking of
spending a lot of money now for returns that will take a
long time to come, will get Brazilians worried.
** In the early nineties, the average inflation rate in Brazil
was 764% per year, according to IBGE
•Usually, Americans like to have everything planned
out and prepared, with step-by-step instructions. Most
Brazilians are not like that.
*It is not that Brazilians are unorganized, it is just that
Brazilians enjoy the freedom to change and improvise ,
and they are good at improvising.
During Pan American Games in Rio
in 2007
 Rio was bidding for 2016 Summer Olympic Games
 It was about 75 degrees on that day
 It was in the media center
 The picture was put on a major Brazilian newspaper
next day
Reaction from the People of Brazil

After the episode, Brazilians said it reinforced
their belief that Americans frequently stereotype other
countries. “Americans are full of prejudices,” said
Alessandra Teixeira, a 29-year old model. “Everything
for them is bad, and they make it worse.”

Brazilians were very sad about what happened,
specially because they had a history of insults from
North Americans that do not know much about
geography. As in the case of U.S. President Ronald
Reagan, he was criticized when he visited Brasilia in
1982 and offered a toast to “the people of Bolivia.”
This serves a need for people without cross-cultural
knowledge and skills to learn be more sensitive to a
different environment.
It is very important for a country’s growth and
economic globalization to have the knowledge,
groundwork and ability to face diversity around the
world.