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Slovakia Case Study

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Introduction According to the OECD library on 1993, Slovakia was established as an independent country (OECD Library , 1999). Its official name is Slovak Republic (Guide to Slovakia, 2017). In 2004, Slovakia entered the European Union ( Investment Climate Statement - Slovakia, 2015). Czechoslovakia is classified into two separate countries which are Slovakia and Czech Republic (Guide to Slovakia, 2017). Regarding economic system in Slovakia seems to be open, after the separation of Czech and Slovak Republic, Slovakia concentrated on converting centrally controlled economy into free market economy (OECD Library , 1999). Population in Slovakia is about 5.4 million people (Guide to Slovakia, 2017). Slovakia entered Eurozone in 2009 ( …show more content…

The power distance in Slovakia has reached 100% so that some Slovakians has power more than others. They use their power in a positive way. The individualism has reached 52%. The masculinity is about 100% in Slovakia, so Slovakia has high level of masculinity and low level of feminine (kolman, 2002). The uncertainty avoidance in Slovakia is 51% so they cannot expect the future perfectly. The long term orientation has reached 77% which is high percentage. Slovakia has realistic culture. They can easily adapt and interact under any conditions. Finally the indulgence is 28%. Slovakia follow the culture of control (Geert Hofstede, n.d.). (Geert Hofstede, n.d.) An evaluation for the FDI within Slovakia The Foreign Direct Investment (FDI): is to invest and build new business in other country (Wild, 2015 ). OECD defines FDI as a key factor of enhancing and promoting the development of economy and stability of the country in the political and financial sector to improve the society as a whole (OECD , 20). Moreover, The UNCTAD explains the FDI by mentioning it as a relationship between two companies which means one company is going to do business in the other company as an investment (UNCTAD, 2007). It is making a new business, investment or company in a foreign country. The

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