TURKEY

Turkey's Cultural Aspect

• High Culture - Literature and Classical Music is something that affects the business condition in a positive way. Turkey has taken the classical music from the Western country and mixed it with some of their own culture. It has become part of their culture and is growing since the 1930's

Turkey's Cultural Aspect

• Folk Culture - Religion, popular music, diet and holidays, they have an affect on business conditions, most of the Turks are muslim and although they do not all practice the religion it is taboo to speak of religion when dealing with them.
• Popular music - there are a variety of music in Turkey but most of the younger population are listening and purchasing the western modern music

Turkey's Cultural Aspect

• Social Culture - Gender roles & greeting rituals are something that will affect the business condition if not taken proper consideration.
• Power distance is high in Turkey and it plays a major role in business
• Individualism vs collectivism, Turkey is a collectivism country which they work in groups and look after each other
• Uncertainty avoidance, Turkey has a high uncertainty avoidance and they need laws and rules

Turkey's Infrastructure

• Financial Infrastructure - their currency is Lira, their exchange rate for every American dollar is 2.66 Lira, the exchange rate is determined by supply and demand of each country
• Turkey has a central bank, commercial bank, stock exchange and has projects with the World Bank

Turkey's Infrastructure

• Financial & Legal Environment - Turkey's bank laws to own a business have made it more difficult to foreign countries by raising their prices for notary and capital resources
• Banking in Turkey - companies must be established a joint stock company but does not have to venture with a domestic company, banks in Turkey are allowed to give out loans to foreign businesses

Turkey's Infrastructure

• Physical Infrastructure - getting around Turkey is available in a variety of ways, through cars, planes, trains, boats, ferry that will take you to many different places.
• Power Supply and Communications - Turkey has over 1 billion kilowatts of electricity usage (2013) and has over 13 million telephone lines in usage (2012) and over 7 million internet host (2012) and over 27 million users (2009)

Reference

• Holidays and Festivals in Turkey. (n.d.). Retrieved June 6, 2015, from http://globerove.com/turkey/holidays-and-festivals-in-turkey/142
• Turkey. (n.d.). Retrieved June 6, 2015, from http://businessculture.org/southern-europe/business-culture-in-turkey/
• High Culture in Istanbul: What’s Happening. (n.d.). Retrieved June 6, 2015, from http://www.yourmiddleeast.com/features/high-culture-in-istanbul-whats-happe...

Reference Continued

• What about Turkey? (n.d.). Retrieved June 6, 2015, from http://geert-hofstede.com/turkey.html
• The World's Trusted Currency Authority. (n.d.). Retrieved June 7, 2015, from http://www.xe.com/currencyconverter/convert/?Amount=1&From=TRY&To=USD#conve...
• About. (n.d.). Retrieved June 7, 2015, from http://www.worldbank.org/en/about
• Starting a Business in Turkey - Doing Business - World Bank Group. (n.d.). Retrieved June 7, 2015, from http://www.doingbusiness.org/data/exploreeconomies/turkey/starting-a-busine...
• (n.d.). Retrieved June 7, 2015, from http://www.virtualtourist.com/travel/Middle_East/Turkey/Transportation-Turk...