The power of culture: achieving high A/R performance in Latin America. (International Affairs Section).(Brief Article)

Latin America is going through an impressive change in the way business is done. Modernization of business processes is taking place all through this market. Globalization has arrived with the many trade agreements, and as domestic and foreign trade grows, modem business practices are coming into general use.

This sounds like an environment in which doing business is relatively easy. But, the truth is that there are still old ways of interacting among companies that have been there for centuries. For cultural reasons, this will probably never change. Understanding the local culture and having local accountability for accounts receivable are keys to generating ...