final report export plan

8/15/2019 Final Report Export Plan

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EXPORT PLANPEDAK

Eric DawsonMyron JansenPatrick SousaMedinaEddie van derLoosMarilyne or!esMendes"ino Os#ina

$L%&'%t( o) June &*'+



Table of Content$nternal Analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-

Strate!y,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-Structure,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, -

S(ared values,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, .

Sta/,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, .

Skills,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 0

Style,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 1

E2ternal Analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 3

De4o!ra#(ics,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,3

Econo4y,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ''

Tec(nolo!y,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, '1

Social,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,&*

Tec(nolo!y,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, &&

Ecolo!y,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,&+

Political,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, &-

5$5D Analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, &0

5usto4er Analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, &0

$ndustry,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, &1

5o4#etitors Analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, %*

Distri6ution analysis ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, %.

S7OT,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,%3

7eaknesses,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,%3

O##ortunities,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, %3

T(reats,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, %3

Market conte2t,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, +*

$nternational Trends,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,+*

Relevant le!al 8international9 #rinci#les: re!ulations: directives involved in

!lo6ali;ation strate!ies,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,+%

5ross cultural <eld analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ++

Do=s and Don=ts,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,+.



>inancial #ers#ective,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, +0

S(ould Pedak enter into 5olo46ia?,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-*

Marketin! Mi2,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, -'

Anne2,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-&

$nternal analysis@,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, -&

E2ternal analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, -&

5$5D Analysis,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, --

Market conte2t,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, --



Internal Analysis>or t(e internal analysis: t(e 0S Model is i4#le4ented )or t(e reason t(at it is ause)ul 4odel to !ain in)or4ation concernin! t(e internal a/airs o) a co4#any, $t#rovides in)or4ation re!ardin! t(e strate!y: structure: s(ared values: style: sta/and skills o) t(e co4#any, >inally: a <nancial overview is also added to t(e internalanalysis in order to analy;e t(e co4#anys <nancial state,

StrategyPEDAK i4#le4ents a custo4er inti4acy strate!y in w(ic( t(e co4#any=s 4ain !oal

is to (ave a tailor 4ade solution to t(e 4easure4ent concerns andBor Cuestions any

custo4er 4ay (ave, T(is custo4er driven (a6it and desire to 6e t(e solution )or

any 8new9 c(allen!e is a !reat strate!y w(ic( 4ay 6e t(e critical )actor t(at 4akes

t(is co4#any e2cel in t(e industry, T(is is very well #erceiva6le in t(eir 4ission and

vision w(ic( are as )ollows

Mission"All measurement questions answered by our knowledge and experience."

PEDAK #rovides 4easure4ent solutions to co4#anies and institutions wit( a

4easure4ent Cuestion, A solution is only !ood enou!( i) it connects #er)ectly to t(e

4easure4ent Cuestion, T(e PEDAK sta/ is ready to answer any 4easure4ent

Cuestion, $) a standard solution is not suFcient: PEDAK o/ers a custo4i;ed

solution, O/erin! a s#eci<c 4easure4ent solution w(ic( solves a s#eci<c #ro6le4

is w(at PEDAK stands )or: )or al4ost +* years: wit( !reat e2#erience: a wealt( o)

knowled!e and a lot o) ent(usias4,

Gision "P!A as a connecting factor between customer# product $ supplier and

team# making P!A T% term in measuring tec&nology."

T(e co4#any (as t(e )ollowin! !uidelines in 4ind every ste# t(ey take@

PEDAK is a #artner )or t(e custo4er in answerin! all 4easure4ent Cuestions,

PEDAK (as a stron! 6ase 6y lon!Hter4 relations(i#s wit( su##liers and custo4ers,

PEDAK (as a #ower)ul tea4 wit( knowled!e: co44it4ent: e2#erience and

ent(usias4,

Structure

T(e structure o) t(e co4#any is relatively si4#le in co4#arison wit( ot(er 86i!!er9co4#anies, At t(e 4o4ent t(eir tea4 consists o) nine 4e46ers includin! t(e

current 5,E,O, 4r, Gossen, E2ce#t t(at all decisions need to 6e a##roved 6y t(e

director 4r, Gossen: t(e co4#any (as a relatively IatHout co4#any structure, T(is

ena6les t(e tea4 o) course to (ave one sin!le leader, So4eti4es it is 6etter to (ave

a s4all !rou# t(at #er)or4s eFciently and in one direction: t(an (avin! a lar!er



!rou# wit( di/erent leaders, T(is 4ay (ave 6ad inIuence on t(e !eneral

#er)or4ance o) an or!ani;ation,

T(ere)ore in t(is #articular co4#any: it is Cuite si4#le to know w(o t(e 6oss is and

t(us (ow t(e in)or4ation Iows, owever: t(e director is o#en to any constructive

su!!estion t(e 4e46ers o) t(e tea4 can 4ake, Eac( 4e46er o) t(e !rou# (as (is

own de#art4ent to take care o): 6ut since t(ey are still a li4ited !rou#: t(eco44unication a4on! t(e de#art4ents see4s to 6e really eFcient, 5onseCuently

in #ro)essional ter4s: you could say t(at t(e co4#any (as an i4#licit in)or4ation

Iow, T(is in (is turn: ena6les t(e entire tea4 to conduct t(e activities really well,

'(ne team# one direction)

S&ared *alues T(e core values t(at are 4ani)ested wit(in PEDAK are@

• 5lient oriented 4entality

• Tea4 oriented 4entality

• $nnovation

• A46ition

• Ent(usias4

• 5reativity

• Loyalty

T(ese core values are stron!ly evident in t(e co4#any=s cor#orate culture, PEDAK

strives to solve its client=s 4easure4ent #ro6le4s wit( tailorH4ade 4easure4ent

solutions, $t strives to do t(is 6y workin! e/ectively to!et(er: 6ein! creative and

innovative w(ile stayin! ent(usiastic in its 6usiness and 6ein! loyal to its su##liers,

Es#ecially: its loyalty to its su##liers: its a46ition )or !rowt( and its desire to#rovide creative solutions (ave 6een )unda4ental values t(e co4#any was 6uilt on

and values w(ic( (as allowed it to !row into t(e co4#any it is today,

Sta+ PEDAK (as a #ower)ul tea4 wit(@

• Knowled!e



• 5o44it4ent

• E2#erience

• Ent(usias4,



O6viously: t(ese skills are t(e reason t(at PEDAK is succeedin! in doin! 6usiness,

PEDAK (as a s4all tea4 6ut Ie2i6le tea4 as all e4#loyees are a6le to do any kind

o) o6 wit(in t(e or!ani;ation,

Roland Gossen is t(e director and (e is t(e one w(ic( 4akes all <nal decisions,

asically: (e 4akes t(e <nal decision w(en a c(allen!e #resents itsel) )or PEDAK,>urt(er4ore: (e is an aut(orial leader w(o does listen to (is e4#loyees durin! t(e

decisionH4akin! #ro!ress,

T(e rest o) t(e ei!(t e4#loyees are at t(e sa4e level in t(e or!ani;ation and are all

very innovative as well, ein! o#en 4inded is necessity at PEDAK 6ecause t(ey

t(rive on t(e )act t(at t(ey can <nd a solution )or every 4easure4ent #ro6le4,

5urrently: t(e co4#any is not recruitin! e4#loyees via any o6Hwe6site 6ut t(ey

(ave t(eir own #a!e at t(e we6site o) PEDAK were #eo#le are a6le to a##ly )or a

o6,

Providin! collea!ues wit( )eed6ack is a standard #olicy o) PEDAK, T(e e4#loyeesare very #unctual and t(e acce#tance ca#a6ility is at a (i!( level, $n s(ort: t(e tea4

o) PEDAK is strivin! to 6e t(e 4ost relia6le co4#any in t(eir sector,

On t(e ot(er (and: t(eir s4all sta/ 4i!(t cause #ro6le4s w(en e2#andin! a6road

6ecause t(e workload #er e4#loyee will increase wit( an e2#ansion and will 6e too

4uc( to stay eFcient and e/ective,

SkillsPEDAK (as a )ew skills w(ic( distin!uis(es itsel) )ro4 t(eir co4#etitors,

>irstly: t(eir #roduct o/er distin!uis(es t(e co4#any )ro4 its co4#etitors, PEDAK

i4#orts (i!( Cuality 6rands )ro4 all over t(e world and co46ines t(e4 wit( t(eir

own #roduct develo#4ents,

$n addition: PEDAK delivers tailor 4ade solutions to various industrial co4#anies

w(ic( work wit( indoor cli4ate: 6ut also (os#itals: #(ar4aceutical co4#anies and

)oods 4anu)acturers, Every section needs a di/erent solution and PEDAK o/ers

t(eir clients a tailorH4ade solution to t(eir 4easure4ent #ro6le4, T(ey analyse

e2actly w(at t(eir clients want to 4easure to deliver t(e ri!(t advice includin!

eCui#4ent: 6ut also 4aintenance and cali6ration, 7(en t(ere is no eCui#4ent

availa6le )or a certain #ro6le4: t(ey (ave t(e e2#ertise to 4ake t(ose eCui#4ent to

4eet t(e e2act need o) t(eir clients, ou can see t(at t(e co4#any attac(es !reati4#ortance to t(eir clients,

>inally: due to t(e creativity and t(e knowled!e o) t(e e4#loyees: t(e co4#any (as

6een a6le to co4e u# wit( so4e new innovations w(ic( even led to winnin! an

i4#ortant award, 7(en a solution is not adeCuate: PEDAK=s e4#loyees t(ink

outside o) t(e 6o2 )or a #er)ect solution,



StyleKurt Lewin=s classi<cation o) leaders(i# styles is a style )ra4ework t(at is co44only

ado#ted, T(ere are t(ree 4aor leaders(i# styles: w(ic( are@

• Dictator

• Autocratic leader

• Laisse; >aire 8)ree rei!n9

•

T(e director o) PEDAK: accordin! to t(is 4et(od: is a##lyin! an Autocratic

leaders(i# style, e includes t(e tea4 4e46ers in t(e decisionH4akin! #rocess: 6ut

ulti4ately (e is t(e one w(o 4akes t(e <nal decisions, y includin! (is e4#loyees

in t(e decisionH4akin! #rocess: (e encoura!es t(e creativity o) t(e !rou#: increases

t(e en!a!e4ent o) (is e4#loyees in t(eir work and increases #roductivity,

T(ere are no real tea4s )unctionin! wit(in PEDAK, T(e sta/ works in no4inal

!rou#s: 6ut eac( e4#loyee (as (is own s#eciali;ation: w(ic( t(e director uses and#ut in #ractice, PEDAK (as only 3 e4#loyees workin!: t(is 4akes t(e e4#loyees 6e

coo#erative: as t(ey work to!et(er to ac(ieve deadlines and !oals,



xternal Analysis>or t(e e2ternal analysis: t(e DESTEP analysis is elected as t(is analysis #rovides a

clear overview o) t(e 4acro econo4ic )actors o) a country, T(e de4o!ra#(ical:

econo4ic: social: tec(nolo!ical: ecolo!ical and #olitical as#ects o) 5olo46ia will 6e6rou!(t to li!(t in t(is analysis,

!emograp&ics

"eo!ra#(y and #eo#le5olo46ia is a Sout( A4erican country in t(e nort(ern #art o) t(is continent w(ic(

s(ares 6orders wit( Pana4a 8Nort(west9: Gene;uela 8East9: ra;il8East9: Ecuador

8Sout(9 and Peru 8Sout(9, T(e country also (as e2tensive coastlines on t(e Paci<c

Ocean and 5ari66ean Sea, Accordin! to t(e 5olo46ian E46assy: 5olo46ia is (o4e

to t(e second lar!est #o#ulation in Sout( A4erica: wit( a #o#ulation o) +. 4illion

#eo#le, O) its total #o#ulation 0- live in ur6an areas, $ts 4aor cities are its ca#ital

o!ota 834illion9: Medellin 8%,- 4illion9: 5ali 8&,+ 4illion9 and arranCuilla 8&

4illion9,

5olo46ia is (o4e to t(e t(ird lar!est S#anis( s#eakin! #o#ulation in t(e world: only

trailin! Me2ico and S#ain, A SEMANA article s(ows t(at even t(ou!( its #eo#le=s

knowled!e o) En!lis( is currently not !reat: its knowled!e o) t(is lan!ua!e (as

i4#roved wit( a #ro4isin! +,& )ro4 &*'& to &*'%, $n t(e 4aor cities t(e

#o#ulation (as a !reater knowled!e o) En!lis(: es#ecially 6usiness4en are a6le to

co44unicate in t(is lan!ua!e, 5olo46ians are a )airly educated #o#ulation, 7it( a

literacy rate o) 3': al4ost all o) its #eo#le a6ove '- years old: can read and write,

ealt( careAccordin! to a Dorland ealt(care re#ort 8&**+9: 5olo46ia (as a total a4ount o)

a##ro2i4ately '*** (os#itals: 6ot( #u6lic and #rivate t(rou!(out t(e country, A

Pers#ectives o) ealt( 5are in Latin A4erica re#ort 8&&*39 s(ows t(at t(e #u6lic

(os#itals (ave a )ar (i!(er #artici#ation 81+9 in t(e 5olo46ian (ealt( care 4arket

t(an t(e #rivate (os#itals, T(e 5olo46ian (os#itals (ave a (os#ital 6ed density o)

',+ #er '*** 5olo46ian in(a6itants, T(e country (as an in)ant 4ortality o) '-,-

deat(s #er '*** live 6irt(s, A total o) '. o) t(ese (os#itals were voted in t(e to# +*

clinics o) Latin A4erica: accordin! to Proe2#ort 5olo46ia,

$n)rastructureAccordin! to Py4es E2#ortadores de 5olo46ia: 5olo46ia (as a !ood in)rastructure:

)or sea trans#ortation: road trans#ortation and national and international air

trans#ortation, Due to t(e !eo!ra#(ical conditions o) t(e country: air trans#ortation

is o) !reat i4#ortance, Even s4all and inter4ediate cities (ave air#orts )or

do4estic Ii!(ts to t(e 6i! cities or to tourist destinations 6ecause o) t(e lon!

travelin! ti4e 6y car, Trans#ortation 6y sea still #lays an i4#ortant role in t(e

5olo46ian econo4y, A6out &* national and international s(i##in! lines o#erate in



t(e 5ari66ean (ar6ors 8arranCuilla: 5arta!ena: Santa Marta: Tur6o: Puerto olvar9

and t(e Paci<c (ar6ors 8uenaventura: Tu4aco9, 5ontainer (ar6ors e2ist in

uenaventura: 5arta!ena and arranCuilla, T(e 4ost i4#ortant (ar6or in 5olo46ia

is uenaventura, DiFculties related to t(e (ar6or traFc and t(e 6ad overland roads

6etween t(e (ar6ors and centers suc( o!otQ or Medelln: (ave resulted in a usual

way o) t(e co46ined seaBair trans#ortation )or )rei!(ts )ro4 and to 5olo46ia, "oodsare s(i##ed )ro4 Euro#e to Mia4i and t(en trans#orted to o!otQ or Medelln 6y

#lane, S(i#4ents to Euro#e are also s(i##ed t(e sa4e way,

To conclude: 5olo46ia (as so4e de4o!ra#(ic o##ortunities, T(e country (as a

(u!e (ealt( care 4arket wit( a##ro2i4ately 1+* #u6lic (os#itals and '.* #rivate

(os#itals o) !reat Cuality, >urt(er4ore: t(e country #ossess a !ood in)rastructure: in

#articular its air and sea trans#ortation w(ic( is used to i4#ort and e2#ort !oods to

and )ro4 t(e country,



conomy

Pros#erity T(e econo4y o) 5olo46ia (as !rown t(e #ast decades and t(at (as not 6een

wit(out notice, 5olo46ia=s econo4y (as recently 6eco4e t(e t(ird !reatest

econo4y o) LatinHA4erica takin! t(e #lace o) Ar!entina and standin! only 6e(indra;il and Me2ico as is stated on several news sites suc( as $n)oea, Accordin! to

t(e 5$A 7orld >act6ook t(e 6oo4in! econo4y o) 5olo46ia (as also 6een under

o6servance 6y t(e t(ree 4aor ratin! a!encies as it is now also t(e second lar!est

econo4y o) Sout(HA4erica,

T(e "DP (as !rown t(e last t(ree years wit( 4ore t(an + #ercent #er year and (as

reac(ed a "PD #urc(asin! #ower #arity o) -&.,- 6illion and a "PD #urc(asin!

#ower #arity #er ca#ita o) '':'** in &*'%, 7it( t(at 5olo46ia #osition itsel) at t(e

twentyHnint( s#ot a4on! world econo4ies,

Additionally: t(e country (as a relatively low inIation rate o) consu4er #rices at&,&, Alt(ou!( t(e une4#loy4ent (as 6een t(e lowest in years: at 3,0 it is still

one o) t(e (i!(est o) LatinHA4erica, 5olo46ia=s inco4e distri6ution s(owed a (i!(

level o) ineCuality, 7it( a wealt( inco4e ratio o) &.,.: t(at is 6etween t(e lowest &*

#ercent and t(e to# &* #ercent: 5olo46ia sur#assed t(e avera!e LatinHA4erica

ratio o) '0,&, 5olo46ia (as a 6ud!et sur#lus o) *,+ o) its "DP, esides t(e 6ud!et

sur#lus: 5olo46ia (as also a sur#lus in trades, 7it( an e2#ort a4ount o) -1,0

6illion and an i4#ort o) -%,- 6illion: t(e country e2#orts 4ore t(an it i4#orts, T(e

outco4e is a trade sur#lus #ercenta!e o) 3,0,

5olo46ia=s 4ain e2#ort #artners are t(e nited States wit( 8%.,.9: 5(ina 8-,-9:

S#ain 8+,19: Pana4a 8+,09: Gene;uela 8+,+9 and t(e Net(erlands 8+,'9, T(e4ain i4#ort #artners o) t(e country are t(e nited States 8&+,&9: 5(ina 8'.,%9

and M2ico 8'*,39 and ra;il 8+,19,

5olo46ia (as also a ti!(t relations(i# wit( t(e E t(at started to 6losso4 4ore in

June &*'& w(en t(e si!nin! o) t(e Trade A!ree4ent occurred, As #u6lis(ed on t(e

Euro#ean nion we6site: at ' Au!ust &*'% t(e trade a!ree4ent <nally entered into

a##lication and all t(e trade 6arriers 6etween 5olo46ia and t(e E were li)ted, T(e

E is t(e t(ird lar!est source o) i4#ortation o) 5olo46ia and t(e E is also

5olo46ia=s second 6i!!est 4arket o) e2#ortation, ot( countries will (ave 4utual

6ene<t 6y t(e Trade A!ree4ent, Accordin! to t(e Euro#ean nion: 5olo46ia will

(ave a new o##ortunity to diversi)y t(eir e2#ort: 6y not only e2#ortin! <s( and

a!riculture 6ut also industrial #roducts,

5olo46ia=s ratin! to Alt(ou!( t(e country (as a #u6lic de6t o) %3: 5olo46ia=s !overn4ent de6t (as

6een u#!raded 6y t(ese a!encies to invest4ent !rade: 4akin! 5olo46ia s(are t(e

sa4e ratin! title as ra;il and Pana4a, Accordin! to a researc( )ro4 t(e



GA 6ank t(e reasons )or t(is u#!rade are t(e stren!t(ened e2ternal 6u/ers and

t(eir de6t dyna4ics: t(e stren!t(enin! o) e2ternal 6u/ers (as 6een attained

t(rou!( sustained accu4ulation o) international reserves: access to $M>=s >le2i6le

5redit Line and a net soverei!n e2ternal creditor #osition in &*'%, T(is allows

5olo46ia to 6etter wit(stand t(e antici#ated c(an!e in e2ternal <nancial conditions

as t(e ta#erin! 6e!ins and ca#ital Iows lose a##etite towards e4er!in! 4arkets,

S(ortco4in!s o) t(e econo4yOn t(e ot(er (and: t(e 5olo46ian econo4y still (as lin!erin! s(ortco4in!s t(at can

under4ine t(e #ros#ects )or lon!Hter4 econo4ic develo#4ent, >irstly: t(e country

still de#ends (eavily on its oil e2#orts: w(ic( (as acCuired a##ro2i4ately '. 6illion

in )orei!n invest4ent in &*'&,

Secondly: t(ere is still a (u!e dis#arity in inco4e in t(e country, A##ro2i4ately

%% o) t(e #o#ulation currently is livin! 6elow t(e #overty line: w(ic( 4eans t(at a

s4all !rou# o) t(e #o#ulation is i4#rovin! in its econo4ic situation,

T(irdly: corru#tion is still an i4#edin! )actor as AntiHcorru#tion laws (ave (ad little

i4#act: and t(e udicial syste4 is still vulnera6le to #olitical inter)erence,

Lastly: t(ere are also security issues t(at weaken t(e #rotection o) #ro#erty ri!(ts:

in)rastructure de<ciencies: and co4#le2 ta2 and la6or syste4s,

Accordin! to t(e MOR Partners #u6lication: t(e to# inco4e and cor#orate ta2 rates

a4ount to %%, Ot(er ta2es include a valueHadded ta2 8GAT9 and a <nancial

transactions ta2, T(e overall ta2 6urden a4ounts to a##ro2i4ately '+,- o) total

do4estic inco4e, T(e tradeHwei!(ted avera!e tari/ rate is 1,3: 6ut nonHtari/

6arriers are relatively low, T(e invest4ent re!i4e can 6e unwieldy 6ut is !enerallytrans#arent, >orei!n invest4ent receives national treat4ent: and '** )orei!n

owners(i# is allowed in 4ost sectors, Private institutions do4inate t(e !rowin! and

wellHca#itali;ed <nancial sector,

"rowt( #ers#ectives T(e stron! econo4ic #er)or4ance o) 5olo46ia is very #ro4isin!, >or t(e econo4y

t(ere are several !rowt( #ers#ectives t(at will contri6ute to t(e e2#ected "DP

!rowt( o) +,+ #ercent@

U Accordin! to MOR t(ere are 4ore )ree trade a!ree4ents ne!otiations

takin! #lace wit( )orei!n countries suc( as 5anada and Ja#an: w(ic( will 6e)avora6le )or t(e econo4y o) 5olo46ia and turnin! t(e country into a

#otential new )ree trade (aven,

U 5olo46ia in order to avoid dou6le ta2ation and ta2 avoidin! (as 6een

6usy wit( e2#andin! t(eir network o) 6ilateral a!ree4ents wit( ot(er

countries, T(is ta2 treaty (as also 6een 6ound wit( T(e Net(erlands and will

contri6ute to t(e !rowin! econo4y, T(e ai4 o) t(is ta2 treaty 6etween



countries is to sti4ulate t(e intensi)yin! o) 4utual invest4ents as stated on

t(e Dutc( "overn4ent we6site,

, T(e latest u#!raded ratin! title received 6y t(e 4aor ratin! a!encies

Standard V Poor=s: Moody=s and >itc( "rou#: will !ive investors: accordin! to

t(e GA researc(: 4ore ease and con<dence to invest t(eir assets in5olo46ia,

U New ne!otiations (ave started wit( t(e country=s !uerilla !rou# >AR5

in (o#e to 6rin! #eace and end a -* years lon! conIict, T(e result o) #eace

will 6e very )avora6le )or 5olo46ia and will 6eco4e a 4ore secured country,

T(at will contri6ute to a 6etter national econo4y: attract investors and last

6ut not least a !rowt( in touris4,

Potential 4arketsest #otentially 4arkets in 5olo46ia are@

• Medical: sur!ical: dental or veterinary instru4ents

• ElectroHdia!nostic a##aratus

• Prost(etic devices

• Dia!nostic i4a!in! eCui#4ent

• La6oratory eCui#4ent and consu4a6les

• ltrasound: 4a44o!ra#(y and cardiovascular eCui#4ent,

• Der4atolo!ical and laser treat4ent a##aratus and a##arel 86oosted 6y

(ealt( care touris4 and e2#andin! #lastic sur!ery de4and9

• $ntensive care: cardiolo!y: neurolo!y and oncolo!y related eCui#4ent

ealt( care touris45olo46ia is not only t(e t(ird econo4y o) LatinHA4erica: 6ut is also t(e t(ird o)

LatinHA4erica w(en it co4es to t(e cos4etic sur!ery sector, On a !lo6al scale is

5olo46ia 6ased on cos4etic sur!ery t(e elevent( o) t(e world, Accordin! to t(e

data6ase o) Dorland ealt(care: 5olo46ia (as a total a4ount o) a##ro2i4ately

'*** (os#itals: 6ot( #u6lic and #rivate t(rou!(out t(e country, T(e #u6lic (os#itals

(ave a )ar (i!(er #artici#ation 81+9 in t(e 5olo46ian (ealt( care 4arket t(an t(e

#rivate (os#itals, Accordin! to news#a#ers ElTie4#o and Gan!uardia t(ere are

recently -** #u6lic (os#itals on t(e ed!e o) 6ankru#tcy, 5olo46ian !overn4ent

wants to (el# t(ese (os#itals wit( t(e needed resources and a new strate!y so t(ey

can continue o#eratin! as a #u6lic (os#ital instead o) 6ein! #rivati;ed, T(e5olo46ian (os#itals (ave a (os#ital 6ed density o) ',+ #er '*** 5olo46ian

in(a6itants, Accordin! to ProE2#ort 5olo46ia: A total o) '. o) t(ese (os#itals were

voted in t(e to# +* clinics o) Latin A4erica, 7it( #ro)essional (i!(Htec( (os#itals

and #rivate clinics suc( as la >undaciWn Galle de Lili )ro4 5ali 8+t( #lace9: la

>undaciWn 5ardioin)antil )ro4 o!otQ 8.t( #lace9: la >undaciWn 5ardiovascular

)ro4 ucara4an!a 81t( #lace9 and t(e os#ital Pa6lo To6Wn ri6e )ro4 Medelln



8'*t( #lace9 are a4on!st t(e to# '* o) t(e world and takin! care o) %,% #ercent o) all

worldwide sur!eries, Accordin! to El5olo46iano: t(e low #rices: (i!( Cuality: knowH

(ow: so#(isticated treat4ent and #ersonali;ed care are t(e reasons o) attraction o)

t(e (ealt( care tourists, Not only does 5olo46ia attracts tourists: accordin! to t(e

news article on earin!Point5ari66ean t(ere are also cases in w(ic( insurance

econo4i;e on t(eir #atients 6y outsourcin! t(e4 to 5olo46ia,

T(e tourist t(at visit 5olo46ia )or est(etic reasons are accordin! to El5olo46iano

.* )ro4 t(e ,S,: '- )ro4 S#ain: - )ro4 Gene;uela: '- )ro4 t(e rest o)

5entral V Sout(HA4erica and - )ro4 t(e rest o) Euro#e, T(e #rices o) t(e sur!eries

and treat4ents are in 5olo46ia 4ostly &*H-* c(ea#er t(an t(e (o4eland o) t(e

tourists: 4akin! it very attractive )or t(e4, Not only (ave t(e #rices see4ed to 6e a

tri!!er #oint 6ut also t(e Cuality treat4ent and a)tercare w(at t(ey !et )or in return,

T(ere are even s#ecial (otels w(ic( t(eir s#ecialis4 is on takin! care o) t(ese

s#ecial tourists a)ter t(ey (ave under!o t(eir treat4ent,

P(ar4aceutical 4arketAccordin! to OSE5 re#ort on Medical and P(ar4aceutical #roducts in 5olo46ia

8&*'*9: t(ere are national co4#anies and international #(ar4aceutical enter#rises

in t(e )or4 o) su6sidiaries in t(e #(ar4aceutical sector o) 5olo46ia, T(e

#(ar4aceutical distri6ution in 5olo46ia is also divided and consists o) & c(annels,

A lot o) LatinHA4erican #(ar4aceutical co4#anies (as noticed t(at t(e 4arket o)

5olo46ia is tre4endously increasin! and (as 6eco4e very i4#ortant, T(at=s w(y

t(e #ast years LatinHA4erican #(ar4aceutical co4#anies (ave tried to !et a s(are

o) 5olo46ia=s 4arket 6y takin! over so4e national 5olo46ian #(ar4aceutical

co4#anies, y t(is acCuisitions t(ey want to #osition t(e4selves in t(e 4arket o)

5olo46ia a4on!st t(e 6i! #layers and to #ro<t o) t(e clientele: knowH(ow: and t(e6oo4in! econo4y,

$4#ort

Imported Products

T(e <nis(ed #(ar4aceutical #roducts t(at re!ister a (i!( i4#orted value area@

Dru!s: in dosa!e: (u4an use

Dru!s: in dosa!e: (u4an use: >or oncolo!ic treat4ent or $G

Ot(er 6lood )ractionsB )or oncolo!ic treat4ent or $G

Gaccines: (u4an use

Ot(er 6lood )ractions

u4an 6lood ani4al 6lood )or t(era#y: #ro#(ylacticBdia!noses uses 4icro6ial

#re#arations



Anti6iotics: in dosa!e: (u4an use

or4ones: not containin! anti6iotics: in dosa!e oBt contrace#tive: (u4an use

Rea!ents o) la6oratory or o) dia!nosis t(at are not used in t(e #atient

5ontrace#tive #re#arations 6ased on (or4ones or s#er4icides

Alt(ou!( 5olo46ia is 4akin! #ro!ress and #roducin! a lot o) #(ar4aceutical

#roducts: yet still t(eir i4#ort is (i!(er t(an t(eir e2#ort, A reason )or t(is trade

de<cit is t(at t(ey are in constantly need o) raw 4aterial )or 4edica4ents

#roduction and <nis(ed !oods w(ic( t(ey don=t (ave or #roduce at a 4aor scale,

nderneat( a list o) #(ar4aceutical #roducts t(at are 4anu)actured in 5olo46ia,

Principal p&armaceutical products manufactured in Colombia-

Medica4ents #re#ared )or (u4an use containin! vita4ins: anti6iotics: alkaloids:

#enicillin and Bor (or4ones esta6lis(ed )or retail sale

Ot(er articles (avin! an ad(esive layer

Gaccines )or (u4an and veterinary 4edicine

5e4ent and ot(er dental ele4ents

Si4ilar sterile sur!ical suture

Pre#aration o) !el

As a6ove 4entioned t(e i4#orts o) t(e #(ar4aceutical industry consists 4ostly o)

<nis(ed !oods and raw 4aterials also known active in!redients, T(e #(ar4aceutical

industry o) 5olo46ia (i!(ly de#ends o) t(e active in!redients in order to #roduce

4edication, T(e international enter#rises located in 5olo46ia are t(e ones w(o

4ainly i4#ort t(e <nis(ed !oods, T(e country (ad an i4#ortation avera!e annual

!rowt( o) &+,& )ro4 t(e year &**. to &**3, $n &**3 t(e i4#ort o) <nis(ed

#(ar4aceutical !oods was #assed ',&+- 4illion dollars,

T(e nited States was a lon! ti4e ranked <rst #lace re!ardin! t(e ori!in o)

5olo46ians i4#orts o) <nis(ed #(ar4aceutical #roducts, $n t(e year &**3Swit;erland e2ceeded t(ose o) t(e nited States and 6eca4e t(e nu46er one on

t(e rankin!, '-,1 o) t(e i4#ort o) <nis(ed !oods o) 5olo46ia ca4e )ro4

Swit;erland, nited States #rovided '&,& o) 5olo46ia=s i4#ort, T(e Net(erlands

was ranked at t(e sevent( #lace and -,1 o) t(e i4#ort was o) Dutc( ori!in,

nderneat( t(ere is a list o) t(e i4#orted #roducts: t(e i4#orted #roducts )ro4

Swit;erland and t(e i4#ortin! co4#anies,



T&e most representati*e p&armaceutical products of t&e imports of

Colombia from Switerland are-

Ot(er 6lood )ractions: )or oncolo!ic treat4ent or $G,

Dru!s: in dosa!e: (u4an use,

Dru!s: in dosa!e: (u4an use: )or oncolo!ic treat4ent o) $G,

Gita4ins and t(eir derivatives: in dosa!e: o) tari/ code &3%.: (u4an use,

Anti6iotics: in dosa!e: (u4an use,

xporting

companies

MER5K S,A,

PRO5APS S,A,

OER$N"ER $N"ELE$M S,A, AP '.+

"EN>AR S,A,

LAORATOR$OS AXTER SA

5$, PRO5APS S,A,

7 H L LL5 B 7ARNER LAMERT LTD

S$A $NAMER L$M$TADA

SANO>$ AGENT$S DE 5OLOM$A SA

S5ER$N"HPLO" S,A,

Importing Companies

PROD5TOS RO5E S,A,

AOTT LAORATOR$ES DE

5OLOM$A SA

NOGART$S DE 5OLOM$A SA,

LAORATOR$OS 7ET $N5,

AER SA

P>$ER SA

LAORATOR$OS AXTER S,A,

"LAXOSM$TKL$NE 5OLOM$A, S,A,

SANO>$HAGENT$S DE 5OLOM$A

S,A,

M$N$STER$O DE LA PROTE55$ON

SO5$AL



E2#orts$n &**3 t(e e2#orts o) <nis(ed #(ar4aceutical !oods o) 5olo46ia reac(ed +*+

4illion dollars, T(ere was re!istered )or t(is analy;ed #eriod an annual increase in

volu4e o) %,- and in value o) '',3, T(e countries o) 5olo46ia=s e2#orts o)

#(ar4aceutical #roducts are Gene;uela: Ecuador and Pana4a, Gene;uela is

occu#ies t(e <rst #lace and re#resents t(e 4ain 4arket: )ollowed 6y Ecuador andPana4a, Swit;erland was ranked as '3t( on t(e list, Gene;uela: Ecuador and Pana4a

were accounted )or .- o) all t(e e2#orts in t(at #articular cate!ory, T(is #roo)s

t(at t(e international co4#anies t(at are located in 5olo46ia t(at serves t(ese

4arkets are usin! 5olo46ia as a #lat)or4 )or t(eir e2#ort, nderneat( a list o) t(e

e2#orted #roducts and t(e e2#ortin! co4#anies,

xported Products

1% 5olo46ians e2#ort o) #(ar4aceutical !oods consisted o) t(e )ollowin!

#roducts@

Medica4ents: in dosa!e: (u4an use:

Gita4ins and t(eir derivatives: in dosa!e: )ro4 tari/ code &3%.: (u4an use

Anti6iotics: in dosa!e: (u4an use

Alkaloids or t(eir derivates: not anti6iotics or (or4ones: in dosa!e: (u4an use:

Anti6iotics: in dosa!e: veterinary use



Social

Standards V valuesLookin! at t(e di4ensions o) o)stede: 5olo46ia is a country wit( a 4asculine

culture w(ere #eo#le live to work, Ac(ievin! success: #er)or4ance: 4oney and

reco!nition are i4#ortant !oals )or t(e4, Ac(ievin! success at work !ives t(e4#ersonal satis)action: #resti!e and #ower, 5olo46ians are one o) t(e 4ost

collectivistic cultures w(ic( 4eans t(at t(e society is divided into !rou#s: o)ten

)a4ily !rou#s, T(ey <nd sa)ety and security in t(ese !rou#s 6ecause 4ost o) t(e

ti4e t(ey cannot rely on assistance or #rotection o) t(e !overn4ent, Everyone

(el#s eac( ot(er, $n a 6usiness relations(i# wit( a collectivist culture: t(ey will 6e

loyal to t(e 4e46ers o) t(eir own !rou#, owever: t(e country (as a (i!( #ower

distance rate w(ic( is nor4al in an econo4ically weaker country, T(is 4eans t(at

t(e ineCualities a4on!st #eo#le are ust a way o) li)e and are acce#ted 6y t(e

society, 7(en you are doin! 6usiness wit( suc( a culture it is i4#ortant to reco!ni;e

status sy46ols, To a certain e2tent i) you want to 6e a 6usiness #artner you s(ould4ake sure t(at you (ave a si4ilar social status as your aFliate, $n addition

5olo46ians (ave a (i!( uncertainty avoidance rate w(ic( 4eans t(at t(ey )ear t(e

)uture wit(in t(eir culture, T(ey su/er )ro4 a lot o) rules: want certainty in t(eir

work and are very reli!ious, T(ere)ore: deviant or uniCue 6e(avior is not valued 6y

society,

5o44unicationAccordin! to 5ulture 5rossin! and t(e 5olo46ian 6usiness etiCuette: in co4#arison

wit( t(e Net(erlands: 5olo46ians are 4ore indirect w(en co44unicatin!, T(ey

attac( a !reat value on w(at ot(er #eo#le t(ink or t(eir reaction, T(ey are always

care)ul not to o/end ot(ers, $n co4#arison wit( 6usiness t(ey tend to 6e 4oredirect: 6ut only in )or4al and social environ4ents, T(ey love c(itc(attin! and

6asically 4ake decisions on t(e 6asis o) t(eir )eelin!s, $t is nor4al t(at 5olo46ians

s#eak very loudly: t(at is w(y t(e s(y ones are o)ten (eard durin! a conversation, $t

is also nor4al w(en a 5olo46ian e46races you and !reetin! takes a lon! ti4e,

T(ey try to s(ow res#ect to t(e ot(er #erson t(rou!( t(is way, Titles are an

i4#ortant as#ect and s(ould always 6e visi6le on 6usiness cards, A #erson s(ould

always 6e addressed 6y usin! (isB(er title, $t is !ood to talk a6out )a4ily: soccer:

culture: co/ee and (istory, ut never talk a6out dru! traFc in 5olo46ia: #olitics or

reli!ion: t(ese are sensitive su6ects, Alt(ou!( culture is a !ood su6ect to talk

a6out: never 4ake a co4#arison 6etween t(eir culture and yours,

Social trendsAs #u6lis(ed in t(e 5entre )or strate!ic and international studies: in &*'+ 5olo46ia

is )ocusin! on t(e #eace ne!otiations 6etween >AR5 and t(e 5olo46ian

!overn4ent, T(ere is #ro!ress in t(e #eace #rocess, esides: t(e 5olo46ian

econo4y is !rowin! and t(ey are s(owin! co44it4ent to )ree trade w(ic( can

cause an increase in relations a6road,



Li)estyle T(e Marketline PESTLE re#ort s(ows t(at 5olo46ia is known as a develo#in!

country, T(e civil war and lar!e scale dru! traFckin! (as a ne!ative i4#act on t(e

social develo#4ent in t(e country, owever: t(e secondary and tertiary education is

i4#rovin!: t(e (i!(er education is still not 4eetin! t(e needs o) t(e !rowin!

econo4y, Lookin! at t(e (ealt(care sector: you can see t(at it (as i4#roved since'33%, T(e (ealt(care syste4 consists o) local: re!ional s#eciali;ed and university

(os#itals, T(ere are t(ree ot(er 6i! )actors in t(e 5olo46ian (ealt(care syste4:

w(ic( are t(e $nstituto de Se!uros Sociales: #rivate sector and t(e #araH

!overn4ental social security institutions,

Accordin! to $nterHA4erican Develo#4ent ank: &-* 4illion dollars is 6ein!

invested in t(e 5olo46ian (ealt(care sector in order to increase t(e eCuity and

eFciency in (ealt( services, T(is 4ay !enerate an i4#rove4ent in (ealt( outco4es

and ensure t(e trans#arency and Iow o) t(e (ealt( care in 5olo46ia, T(e 4ain !oal

o) t(e $D is to #rovide 4ore su##ort to t(e 5olo46ian !overn4ent to create 4ore

sustaina6ility )or t(e country=s (ealt(care syste4,

Accordin! to 7orld ank: t(e (ealt( e2#enditure #er ca#ita in 5olo46ia was +%':3-

dollar in &*'' as a ratio o) t(e total #o#ulation, T(ese are t(e #u6lic and #rivate

(ealt( e2#enditures, T(e #rivate (ealt( e2#enditure in 5olo46ia was last 4easured

in &*'' and consists o) ':-+ o) t(e "DP in 5olo46ia, T(e #rivate e2#enditures

consist o) outHo)H#ocket s#endin!: #rivate insurance: etc, T(e #u6lic (ealt( costs are

divided into total (ealt( e2#enditure and !overn4ental (ealt( e2#enditure in

5olo46ia, $n &*'' t(e #u6lic (ealt( e2#ense was 0+:1- o) t(e total (ealt(

invest4ent in 5olo46ia: w(ile t(e !overn4ent s#endin! was '1:-% o) t(e total

(ealt( e2#enditure in 5olo46ia,As #u6lis(ed in 5olo46ia Politics on A#ril '.t( &*'%: t(e (ealt(care insurance

syste4 in 5olo46ia is #rovided 6ot( 6y #u6lic and #rivate co4#anies, T(ey tend to

avoid one or anot(er sector to !ain 4ono#oly over it w(ic( ena6les a (i!( service,

T(e services are su##lied 6y T(e Entidades Pro4otoras de Salud also known as EPS

t(rou!( t(e $nstituciones Prestadoras de Salud also known as $PS, T(e $PS are t(e

(ealt( #roviders, Every e4#loyee (ands in a #art o) t(eir salary to t(e EPS, T(is is

Cuite e/ective 6ecause it covers a lar!e #ro#ortion o) t(e 5olo46ian #o#ulation: 6ut

also a #lan o) t(e !overn4ent since t(e 6i!!est #art o) t(e )undin! co4es )ro4 t(e

e4#loyers,

To conclude: t(e (ealt(care sector in 5olo46ia is i4#rovin!, T(e !overn4ent is

investin! in t(is sector, >urt(er4ore: it is i4#ortant to create knowled!e a6out t(e

cultural di/erences and as#ects w(en doin! 6usiness,

AS TO E MORE EXTENS$GE



Tec&nology T(e t(ird sector in w(ic( 5olo46ia (as 6een doin! well is t(e tec(nolo!y sector, $n

&*'& t(e 7all Street Journal called Medellin t(e t(ird 4ost innovative city o) t(e

world w(ic( was a sur#rise, T(e reason t(at it was suc( a sur#rise (ad to do wit(

t(at '* years a!o t(e city (eld t(e title o) Y5oke ca#ital o) t(e world=, 7(at t(e4asses does not know is t(at in t(e #ast years t(e country 5olo46ia (as reac(ed to

#osition itsel) as a Silicon Galley o) LatinHA4erica and attractin! an increasin!

a4ount o) )orei!n startHu#s to #osition t(e4selves in t(e country,

$t all started '' years a!o w(en 5olo46ia decided to develo# an ecosyste4 o)

tec(nolo!y called ParCueSo)t, ParCueSo)t is located in t(e sout(western re!ion o)

5olo46ia and (as !ained a lot o) international attention, T(e na4e ParCueSo)t

4eans Park o) So)tware and t(at is w(ere t(e 4ost innovative tec(nolo!y

co4#anies (as #ositioned t(e4selves, T(e tec(nolo!y corridor consist o) '' #arks

t(at are located in 5olo46ian cities suc( as@ Ar4enia: uenaventura: u!a: 5ali:

Mani;ales: Pal4ira: Pasto: Pereira: Po#ayan: Sinceleo and Tulua, ParCueSo)t also)unctions a network and connects universities o) t(e re!ion wit( t(e startHu#s and

)orei!n su6sidiaries, Accordin! to ParCueSo)t t(ey (ave nowadays a worldwide

clientele and o/erin! t(e4 a total covera!e in t(e de4and o) $T #roducts: services

and related content, T(e tec(nolo!ical corridor (as 4ore t(an -** clients in t(e

)ollowin! continents@ nited States: Euro#e: Asia: A)rica and LatinHA4erica,

Accordin! to G News: 5olo46ia (as a di/erent #olicy in co4#arison wit( t(eir

co4#etitors 5(ile and ra;il t(at also <!(t )or 6eco4in! t(e LatinHA4erican version

o) Silicon Galley, 5(ile (as a startHu# #ro!ra4 since &*'* to attract )orei!n startHu#s

6y o/erin! t(e4 a +*,*** invest4ent !rant, ra;il (as also a si4ilar #ro!ra4

since &*'% in w(ic( t(ey o/er startHu#s an invest4ent a4ount u# to '**,*** in

t(e #eriod o) a year, 5olo46ia=s #ro!ra4 is totally di/erent, 5olo46ia did not

wanted to take t(e sa4e a##roac( o) !ivin! away (u!e a4ount o) 4oney to

)orei!ners and t(en see t(e4 leave wit(out 4akin! develo#4ents as (a##ened in

5(ile, 5olo46ia (ad anot(er way to sti4ulate t(e !rowt( and attraction o)

)orei!ners and doin! t(is 6y o/erin! venture ca#ital, $n t(is a##roac( o) !ivin! only

t(e necessary <nance t(ere are less risks: 4ore control and a (i!(er #roductivity,

y o/erin! venture ca#ital 5olo46ia also earns 4oney 6y ownin! eCuities in t(e

co4#anies t(ey invest in,

T(e 4ore international a##roac( to entre#reneurs(i# is anot(er way in w(ic(5olo46ia distin!uis(ed itsel) )ro4 t(e co4#etitors, 5olo46ia di/er itsel) 6y

#ro4otin! t(e e2#ort o) tec(nolo!ical #roducts and services instead o) only )ocusin!

on t(e national 4arket, >or t(is a##roac( 5olo46ia takes advanta!e o) t(eir uniCue

strate!ic !eo!ra#(ical location,

• 5olo46ia is t(e only country w(o connects Sout( and 5entral A4erica



• 5olo46ia is wit(in a distance o) ust % (ours )ro4 t(e city Mia4i o) t(e

nited States

• 5olo46ia s(ares t(e sa4e ti4e ;one as t(at o) New ork



All t(ese 6ene<ts t(at (as 5olo46ia !ive access to a 4arket o) -% 4illion is#anics

in t(e nited State, T(is 4arket o) is#anics )ro4 t(e nited States (aves a

s#endin! #ower o) ',& trillion dollars accordin! to T(e >inancial Ti4es, T(e access

to t(e (u!e 4arket o) is#anics and t(eir s#endin! #ower attracts )orei!n startHu#s

to #osition t(e4selves in 5olo46ia, y #ositionin! t(e4selves in t(e country t(ey

are (el#in! 5olo46ia in 6eco4in! t(e Silicon Galley o) LatinHA4erica,

5onclusion5olo46ia=s econo4y is clearly on t(e rise wit( a !rowin! "DP every year, T(e still

!rowin! "DP (as 4ade 5olo46ia t(e t(ird lar!est o) LatinHA4erica and t(e second

lar!est econo4y o) Sout(HA4erica, T(is (as not stayed unseen 6y t(e 4aor ratin!

a!encies w(o (ave !iven 5olo46ia an u#!raded ratin! title, T(e (ard work is also

startin! to #ay o/ on an international scale in t(e )or4 o) >TA=s wit( several

countries all over t(e world, $n Au!ust &*'% t(e Euro#ean nion trade 6arriers were

li)ted and 5olo46ia <nally succeed to enter t(e E 4arket, T(e so#(isticated (ealt(

care sector o) 5olo46ia (as created a new kind o) touris4 w(ic( t(e country is now

well known )or, T(e (os#itals and clinics are 6y t(e (i!( de4and o) (ealt( care and

t(eir rankin! a4on!st t(e to# o) t(e world: o6li!ated to kee# u# wit( t(e

tec(nolo!y, T(at is so4et(in! very convenient )or Pedak as t(ey can #rovide t(e

#roduct and service and even esta6lis( a lon!Hter4 relations(i#, T(e 6oo4in!

(ealt( care sector also inIuence t(e #(ar4aceutical sector w(o is also in #ros#erity,

$nternational )orei!n #(ar4aceutical co4#anies #osition t(e4selves in 5olo46ia to

#ro<t o/ t(e well din! o) t(e sector and to use 5olo46ia as e2#ort #lat)or4 to reac(

ot(er 4arkets o) LatinHA4erica, Ot(er countries )ro4 LatinHA4erica see 5olo46ia as

a role 4odel in #articular w(en it co4es to (ealt( care trends: eCui#4ent=s and

tec(nolo!y, Pedak can #ro<t )ro4 t(e inco4in! co4#anies w(o are takin! over

ot(er #(ar4aceutical co4#anies and renovatin! 6y o/erin! t(e4 t(e '&%H&touc(dis#lay, Pedak can also #ro<t o) t(e role 4odel t(at 5olo46ia (as: 6y 4akin! a

na4e and 6ein! success)ul in 5olo46ia t(at will !uarantee success in ot(er

countries o) LatinHA4erica, 5olo46ia (as 4ana!ed to create a na4e )or t(eir

tec(nolo!y sector: wit( ParCueSo)t a corridor s#read a4on!st '' cities and to even

6een called t(e Silicon Galley o) LatinHA4erica, ParCueSo)t is still e2#andin! and

t(ere are a lot o) new )orei!n startu#s t(at are #ositionin! t(e4selves in t(ese

tec(nolo!ical corridor: w(ic( are #otential custo4ers )or Pedak, 5olo46ia still

stru!!les wit( as#ects suc( as t(eir (i!( inco4e #ercenta!e de#endency on oil:

(u!e inco4e dis#arity: corru#tion and in)rastructure de<ciencies, Alt(ou!( t(e

stru!!les w(ic( 5olo46ia still deals wit(: we can sa)ely say t(at 5olo46ia is on

t(eir way to 6eco4e a world econo4y and a #otential 4arket )or Pedak,



cology

T(e cli4ate in 5olo46ia 4ay di/er )ro4 very (ot at lea level to relatively

cold at (i!(er elevation, Also it would 6e #ossi6le to (ave a variation in

te4#erature )ro4 '0Z durin! day ti4e to -Z5 at ni!(t, T(e 5olo46ians (ave

di/erent ter4inolo!y )or t(eir cli4ate ;ones@ e,!, t(e area 6elow 3** 4etersis called tierra caliente 8(ot ;one9: 6etween t(e 3** to ',31* is t(e tierra

te4#lada 8te4#erate ;one9: and )ro4 t(at altitude to %,-** is re)erred to as

tierra )ra8cold ;one9, A##ro2i4ately 1. o) t(e total area o) 5olo46ia lies

in t(e (ot ;one, ere: te4#erate varies 6etween &+H%1Z5 de#endant on t(e

altitude,

Rain)all in t(e (ot ;one is t(e (eaviest in t(e Paci<c lowlands and in certain

areas o) eastern 5olo46ia: w(ere it rains al4ost on daily 6asis and rain

)orest #redo4inate, E2tensive areas o) t(e 5ari66ean interior are

#er4anently Iooded, Not 6ecause o) t(e 4oderately (eavy #reci#itationdurin! rainy season 8May [ Octo6er9: 6ut due to #oor draina!e,

A6out 1 o) t(e country is 6ein! covered 6y t(e te4#erate ;one: w(ic(

includes t(e lower slo#es o) t(e 5ordillera Oriental and 5ordillera 5entral,

$4#ortant cities o) Medellin and 5ali are located in t(is #articular ;one, ere

is t(e rain)orest 4oderate and t(e annual te4#erature lies 6etween '3H&+Z5,

T(en t(ere is t(e cold ;one w(ic( is a##ro2i4ately . o) t(e total area, T(is

is t(e 4ost densely #o#ulated, $t covers a Cuart o) t(e country=s total

#o#ulation, Avera!e te4#erature lies 6etween t(e '*H'3Z5 wit( wet seasons

in A#ril and May and )ro4 Se#te46er to Dece46er,

5olo46ia=s !eo!ra#(ic and cli4ate variations (ave created in so4e wayet(nocultural !rou#s, E,! t(e 5oste\o )ro4 t(e 5ari66ean coast t(e

5aucano in t(e 5auca re!ion and t(e Paci<c coast t(e AntioCue\o in

AntioCuia: 5aldas: Risaralda: and Galle del 5auca de#art4ents t(e Toli4ense

in Toli4a and uila de#art4ents t(e 5undi6oyacense in t(e interior

de#art4ents o) 5undina4arca and oyacQ in t(e 5ordillera Oriental t(e

Santandereano in Norte de Santander and Santander de#art4ents and t(e

Llanero in t(e eastern #lains, Eac( !rou# (as its own distinctive

c(aracteristics: custo4s: accents: social #atterns etc, ou could say t(at

t(ere are su6Hcultures wit(in t(e country=s culture created 6y di/erent!eo!ra#(ic and cli4ate situations,

T(ere (as 6een a risin! 5O& e4ission t(at could #otentially a/ect t(e Cuality

o) t(e air and conseCuently i4#act t(e (ealt( o) t(e country=s #o#ulation,

5O& e4issions rose in t(e last decade )ro4 -0,04 4etric tons to 0',&4

4etric tons,



Tec&nology

ealt( careDue to t(e (ealt( care re)or4: in '33%: known as t(e law '**: 5olo46ia (as one o)

t(e 4ost e2tended insurance syste4s and 4edical <nancial #rotection in Latin

A4erica, T(ey stand second: only 6e(ind 5(ile, Accordin! to a re#ort o) ancad=$talia: na4ed T(e (ealt(Hcare syste4 and its <scal i4#act in 5olo46ia: 1. #er

cent o) t(e #o#ulation o) 5olo46ia (as a universal (ealt( insurance, 7it(in t(is

4edical industry: t(e #rivate sector is t(e 4ost sta6le sector and it i4#orts

es#ecially lar!e #urc(ases,

T(e (ealt(care in)rastructure needs to 4oderni;e: 6ut is suFcient in t(e lar!er

ur6an areas, Still: t(e (ealt(care syste4 re4ains co4#le2: wit( a lot o) corru#tion:

and not everyone: as stated in t(e article T(e corru#tion at t(e (eart o) 5olo46ia=s

ealt( care syste4: o) 7orldcrunc(: (as access to a universal (ealt( insurance,

Due to a #u6lic sector (ealt( crisis: t(e i4#ort to lar!e a4ount o) tec(nolo!ical

4edical eCui#4ent: declined, owever: t(is crisis is 6ein! tackled and t(e actions

are created to ease its i4#act, T(ese actions were i4#le4ented in t(e #eriod o)

&*'&B&*'%: and t(is s(ould 4ake t(e #u6lic sector 4ore relia6le and attractive to

su##liers,

A study: 4ade 6y A4erica Econo4ia $ntelli!ence: #ointed out t(at si2teen o) t(e

)orty 6est (os#itals and clinics in Latin A4erica in &*'&: are in 5olo46ia, os#ital

>undacion Santa >e in o!ot: t(e >undacion Galle del Lili in 5ali: >undacion

5ardioin)antil in o!ota: and >undacion 5ardiovascular de 5olo46ia in

ucara4an!a res#ectively are on t(e )ourt(: sevent(: ei!(t( and nint( #lace,

"rowt(5on)or4in! to t(e article 5olo46ia as a #otential new )ree trade (aven: t(ere are

)actors t(at (as #ositioned 5olo46ia=s 4edical industry in !rowt(, >or e2a4#le

#lans )or increasin! in #u6lic s#endin! )or t(e (ealt( sector, $n t(is case it 6oosted

t(e 4oderni;ation o) (os#itals: clinics and clinical la6oratories, Ot(er )actors are a

sta6le #ositive econo4ic !rowt( o) t(e country and t(e )ree trade relations(i# wit(

t(e nited States,

O##ortunities T(e !overn4ent wants to i4#rove t(e (ealt( care syste4 and t(e ai4 is to u#!rade

clinical la6oratories: so t(at Cuality o) service delivery in t(e (ealt( care sector can6e i4#roved, T(e clinical la6oratory 4arket will (i!(ly 6ene<t )ro4 t(is increase o)

inco4e and control, T(e re4ainin! leadin! 4arket are 4edical: sur!ical: dental or

veterinary instru4ents and electro 4edical eCui#4ent,

T(e ca#ital o) 5olo46ia: o!otQ: is t(e area: on w(ic( s(ould 6e )ocused: as it t(e

4ost )ocused area )or t(e 4edical device industry, o!otQ is also a )ree trade ;one:



w(ic( (as to encoura!e international co4#anies to invest in t(e ca#ital city as

re#orted in A to# Pros#ect )or 5olo46ia: )ro4 E2#ort,"ov,



5onclusion T(ere are 4ade so4e re)or4s 6y t(e 5olo46ian !overn4ent: and t(is will lead to

4ore investors to invest in t(e (ealt( care sector, os#itals: clinics and la6oratories

are 4oderni;in! and t(e 6i!!est o##ortunities lies in t(e ca#ital o) 5olo46ia:

o!otQ: w(ic( is also )ree trade ;one,



Political

Political inIuences T(e (ealt(care sector is sti4ulated very well since Juan Manuel Santos 5alderon

was elected #resident o) 5olo46ia, e already invested 3+1 4illion into t(e

>a4ilies in Action #ro!ra4 w(ic( is a #ro!ra4 t(at !ives #oor )a4ilies cas(su6sidies to (ave (ealt(care services, $n &**% )or4er #resident ri6e launc(ed t(e

>orester >a4ilies #ro!ra4 w(ic( o/ers )a4ilies located in cri4inal areas a le!al

alternative to earn 4oney, T(e #rivate and #u6lic sector is !rowin! ra#idly: it is a

4aor 6oost to (u4an develo#4ent in 5olo46ia, T(ere are a lot nonH#ro<t

enter#rises w(o are #rovidin! (ealt(care and ot(er social services to #oor #eo#le,

T(ere is a law in 5olo46ia t(at #er4its )orei!n investors to (ave '** #ro#erty

owners(i#, Due to t(is 8and to t(e lowest interest rate o) LHA9 you see a lot o)

#rivate clinics owned 6y )orei!ners,

>orei!n #olicies T(e relation wit( t(e SA and E (as 6een stron! t(e last years, 5olo46ia is also a

4e46er o) t(e== Rio !rou#== w(ic( is an association o) 4any Latin A4erican

countries t(at are strivin! to (ave t(e sa4e #olicy on a variety o) issues, $n &*'% it

received an o/er )ro4 t(e OE5D, T(e OE5D is an inter!overn4ental or!ani;ation

t(at su##orts de4ocracy and )ree 4arket #olicies as well, President Santos wants to

work on )orei!n relations: #articularly wit( countries in Sout(HA4erica, $n May &*''

5olo46ia started t(e Paci<c Alliance wit( Me2ico: Peru and 5(ile, T(is !rou# is

actin! as one tradin! 6loc t(ey inte!rate t(eir stock 4arkets,

Econo4ic #olicies

T(e central 6ank o) 5olo46ia is su##ortin! #rivate invest4ent 6y i4#rovin! t(e6usiness environ4ent, T(e national industry is !ettin! 4ore and 4ore o#en )or

)orei!n investors and t(e cor#orate ta2 is dro##in! every year as well, $4#rovin!

t(e wellH6ein! o) t(e citi;ens o) 5olo46ia is t(e 4ain o6ective o) President Santos,

e #lanned an invest4ent o) %'. 6illion dollars to reduce #overty and su##ortin!

t(e wel)are #ro!ra4s in t(e country, T(e !overn4ent (o#es t(is invest4ent will

lead to a !rowin! econo4y and t(e citi;ens are (ealt(y and livin! 6y (i!(

standards, Since '33' t(e 4ost (eat( care institutes and #ension or!ani;ations are

owned 6y #rivate #layers, T(ey are !ettin! i4#ortant #layers in t(is sector since

5olo46ia decentrali;ed #u6lic services,



5onclusion T(ere are #lenty o##ortunities )or )orei!n investors in t(e #rivate sector, $n addition

to t(at: t(ere is not 4uc( 6ureaucracy )or 6usiness co4#anies: )orei!n investors are

allowed to (ave '** #ro#erty owners(i# and t(e cor#orate ta2 is dro##in! every

year, T(e !overn4ent o) #resident o) Santos (as launc(ed 4any wel)are #ro!ra4s

in t(e #u6lic sector to su##ort 4any )a4ilies w(o cannot #ay )or t(eir own(ealt(care services, Lastly: 5olo46ia is (as !ood )orei!n relations wit( t(e SA and

Euro#e and (as a )ree trade a!ree4ent wit( Peru: 5(ile and Me2ico,



CIC! Analysis

Customer Analysis To de<ne Pedak=s custo4ers we will 4ake use o) t(e . 7=s 6y >errell, T(eseCuestions will (el# us to tar!et t(e ri!(t end user !rou#,

7(o are t(e #otential custo4ers?$n &*'': t(e total inco4e o) 4edical eCui#4ent: in 5olo46ia: were wort( 3'+4illion S , Durin! t(ese year t(e nited States e2#orted %&- 4illion in 4edicaleCui#4ent, Ot(er i4#ortant i4#ort countries are 5(ina: Taiwan: and "er4any,

Accordin! to Maine $nternational Trade 5entre and E2#ort,!ov: lar!e #urc(ases andi4#orts are al4ost )ully done 6y t(e #rivate sector, T(e #rivate sector accounted )ornearly +- #er cent o) (os#ital ad4issions and a6out +* #er cent o) 4edicala##oint4ents: su!!estive o) a relatively e2#ensive (ealt(Hcare syste4 wit(

e2tre4ely li4ited covera!e,

T(e #roduct: 5leanroo4 dis#lay: es#ecially 4ade )or cleanroo4s: o#eratin! roo4s:and la6oratories: !ives a !lance w(et(er t(e cli4ate in t(e work environ4ent isri!(t or wron! 8e,!, te4#erature: di/erential #ressure: relative (u4idity: door4ove4ents: dust9, T(e #otential custo4ers )or Pedak can 6e (os#itals: #(ar4acies:#(ar4aceutical co4#anies 8e,!, la6oratories9: or #roduction co4#anies 8e,!,4edical #roducts9,

7(at are t(e #otential custo4ers doin! wit( t(eir #roduct?5usto4ers 6uy t(e #roduct in order to always (ave insi!(t into t(e indoor cli4atewit(in t(e cleanroo4 and to 6e a6le to react i44ediately to 4aintain 4a2i4u4Cuality,

7(ere do t(e #otential custo4ers 6uy Pedak=s #roducts?H

7(en do t(e #otential custo4ers 6uy Pedak=s #roducts?7(en #otential custo4ers want to control: re!ister and 4easure indoor cli4ate to#revent in)ection: 6ut also )or 4ore sa)ety and a 6etter co4)ort ;one,

7(y do t(e #otential custo4ers c(oose )or Pedak=s #roducts?

T(e #otential custo4ers will see t(e (i!(HCuality desi!n and tec(nic and t(is willadd value to t(eir clinicBla6oratories, $t stands )or lu2ury: e2clusivity 8)ro4 ot(er(os#itals9 and #ro6a6ly so4et(in! to s(ow o/ t(eir #ro)essionalis4: )or w(en a#atient visit t(e clinic, $t is also easy to control and to #ro!ra4: suita6le )or network:can co44unicate wit( e2istin! MS: and settin!s are e2c(an!ea6le,

7(y would t(e #otential custo4ers not #urc(ase Pedak=s #roducts?



NonH#otential custo4ers could 6uy Pedak=s cleanroo4 dis#lay w(en t(ey arelookin! )or 4oderni;ation o) t(eir clinics or la6oratories and w(at to add (i!(HCuality #roducts,



5onclusionPedak=s custo4er are 6ot( #u6lic as #rivate clinics or la6oratories in 5olo46ia,

T(ere is 4ore #otential in t(e #rivate sector: as t(ey do 4ost o) t(e i4#ort o) lar!e4edical eCui#4ent,

Industry7(en lookin! )or 6etter insi!(t o) t(e industry a co4#any is doin! 6usiness in: t(ere

is one use)ul 4odel w(ic( is t(e )ra4ework )or industry analysis develo#ed 6y

Mic(ael E, Porter,

Mr, Porter is a #ro)essor at arvard usiness Sc(ool in A4erica w(o4 is 6ein!

considered a 4ana!e4ent !uru in t(e <eld o) co4#etitive strate!ies, T(e 4odel

involves t(e )ollowin! - #oints

', T&reat of new entrants H8Level o) diFcultness to #enetrate t(is

4arket?9

&, T&reat of substitute products or ser*ices H8$s t(e #roduct easy to

6e re#laced wit( any ot(er c(ea#er #roduct or services?9

%, /argaining power of suppliers [ 8ow stron! is t(e #osition o) t(esu##lier?9

+, /argaining power of buyer [ 8Does t(e custo4er (ave a stron!

#osition?9

-, 0i*alry among existing players in t&e market [ 8Level o)

co4#etitionBw(o (as t(e 4ost #ower?9

T(reat o) new entrantsAs #erceived on t(e 5olo46ian !overn4ental we6#a!e: t(ere are #lenty o)

reCuire4ents to success)ully 6e a6le to 4anu)acture or i4#ort into t(is s#eci<c

industry, $t is no e2ce#tion w(en it co4es to 4easure4ent eCui#4ent, T(e 4edicalindustry on itsel) reCuires a (i!( level o) know(ow in every as#ect, 7it(out t(e

e2#ertise: know(ow and even #resti!e: it 6eco4es very diFcult to #enetrate into

any 4arket and es#ecially t(e 4edical industry, $n addition: as #erceived on t(e

we6#a!e o) "eert o)stede: 5olo46ia (as a (i!( level o) uncertainty avoidance

w(ic( rese46les in t(e 6uyin!Btrustin! 6e(avior o) t(e country, T(is is in order to

e4#(asi;e t(e i4#ortance o) t(e re#utation o) t(e #roductB service,

T(reat o) su6stitute #roducts or services T(e #roduct w(ic( t(is researc( is conducted )or is so#(isticated and so )ar t(ere is

no si4ilar #roduct in t(e 5olo46ian 4arket, T(is leads to an assu4#tion t(at t(ereis no e2act re#lace4ent )or t(e #roduct '&%H&touc( dis#lay, owever t(e real t(reat

)or it is t(e (a6it o) econo4i;ation t(at t(e culture (as and retain t(e custo4ers

)ro4 6uyin!, Potential custo4ers could (esitate to 6uy t(is #roduct 6ecause t(ey

already (ave a #roduct t(at (as t(e sa4e )unctions, And (ere6y t(ey do not (ave

t(e need o) re#lace4ent,



ar!ainin! #ower o) su##lierAs stated (ere a6ove: t(e avera!e 5olo46ian consu4er #re)ers A4erican #roducts,

T(is !ives t(eir current su##lier a 6i! advanta!e already in co4#arison to Euro#ean

su##liers, esides: t(e 5olo46ians (ave t(e tendency to relate Cuality wit(

A4erican #roducts and t(eir current 86i!!est9 su##lier 8O(io Medical 5or#,9 is also

internationally known,



ar!ainin! #ower o) 6uyer$n t(is s#eci<c industry: t(e 6uyer (as little to noH#ower 6ecause it concerns a (i!(

value #roduct andBor service, T(is is reason enou!( w(y t(ey would s#end w(at is

necessary to o6tain (i!( Cuality #roducts, owever t(is does not 4ean t(at t(ey

would si4#ly renovate i) t(is is not strictly necessary,

Rivalry a4on! e2istin! #layers in t(e 4arket7(en it co4es to t(e 4arket )or si4ilar dis#lays: O(io Medical 5or# is t(e 6i!!est

su##lier in t(e 5olo46ian 4arket, Al4ost in every (os#ital is t(eir eCui#4ent to 6e

)ound, T(is co4#any itsel) (as di/erent distri6utors in t(e country already as we

can see )ro4 t(e data o) t(e we6site Sice2 re!ardin! i4#orters o) O(io Medical

5or#, n)ortunately t(ere are no statistic <!ures t(ou!( t(at s(ows t(e e2act

#ercenta!e o) t(e 4arketHs(are t(at t(is co4#any (as, >urt(er4ore: it is a )act t(at

5olo46ia=s (os#itals rank a4on! t(e to# '* o) t(e world as it is #u6lis(ed in t(e

news#a#er YEl5olo46iano= and on several ot(er 4ediu4s , Once you are #ositioned

in t(e 5olo46ian 4arket 8as a su##lier9: it is not easy to 6e re#laced,



Competitors Analysis

Sie4ens

Summary

T(e Sie4ens (ealt(care co4#any stands )or innovative #roducts co46ined wit(

#ersonal service, Peo#le are !ettin! older and t(ey are used to (i!( livin! standardsso Sie4ens o/ers 4edical tec(nolo!y to #rovide t(is need and its individual

a##roac( are w(at 4akes Sie4ens uniCue, Sie4ens o/ers advanced 4easure4ent

solutions and $THsyste4s )or 6etter dia!noses and #recise treat4ent decisions,

Strengths

', >le2i6ility

&, A lon! ter4 contract needs Ie2i6ility and trans#arency and t(at is

w(at Sie4ens o/ers to t(eir custo4ers,

%, KnowH(ow

+, diverse tea4s wit( di/erent services and clinical 6ack!rounds,

-, E2#erience

., 4ore t(an a decade e2#erience in 4ana!in! #roects all over t(e

world, T(ey know w(at it takes to succeed under #ressure and t(ey know

(ow to deliver to# Cuality #roducts,

0, 5ertainty

1, all t(e )ees are <2ed at t(e start o) t(e contract so t(ere is no s#ace)or any uncertainty,

Weaknesses

', Relative e2#ensive

&, AH 6rand: 6ecause Sie4ens is a world known 6rand wit( (i!( Cuality

standards,

Strategy and objectives

"lo6ali;ation: de4o!ra#(ic c(an!e and 4ore 4e!atrends are creatin! c(allen!es

)or (u4an kind, Sie4ens is aware o) t(ese c(an!es and (ave de<ned t(eir !oals

and vision accordin! to t(e c(an!es !lo6ally, Sie4ens wants to 6e t(e #ioneer and

4arket leader in innovation driven 4arkets, Aside )ro4 t(is o6ective: t(ey also

want to 6e close to t(eir 4arkets and local #artners, Lastly: t(ey also want to

e2#and t(eir service #ort)olio to 6etter understand w(at really (el#s t(eir

custo4ers: 4eanin! t(ey want to intensi)y t(eir interaction wit( t(eir custo4ers,



Health care customers in Colombia

• T(e $46anaco Medical 5enter in 5ali: 5olo46ia

• >undaciWn 5ardioin)antil o) o!ota

• os#ital Pa6lo To6Wn ri6e

• >undaciWn Galle de Lil

• 5edi4ed



National $nstru4ents 5or#oration

Summary

T(e co4#any tries to solve t(e world=s 4ost #ressin! c(allen!es, T(e co4#any

develo#s 4edical eCui#4ent and treat4ent tools and does daily en!ineerin! in

nearly -* countries, Providin! so)tware and (ardware #lat)or4s )or co4#anies and

institutes is a s#ecialty o) t(e co4#any as well,

T(e co4#any (as a##ro2i4ately 0'** e4#loyees and is )ounded in '30., T(e

co4#any (as an oFce in o!ota and is a 4e46er o) t(e N$ Alliance Partner

Network,

Strengths

', $nnovative

T(e national instru4ents cor#oration is always strivin! to 4anu)acture (i!( [tec(

and revolutionary 4edical eCui#4ents,

&, Pu6lic relations

%, eac( year 4ore t(an %-,*** co4#anies select N$ #roducts

+, Plat)or4 6ased a##roac(

-, costHe/ective develo#4ent 4et(ods 6ecause t(ey are usin! one

#lat)or4 to desi!n 4any #ro!ra4s and syste4 so it is not necessary to

develo# a new #lat)or4 )or eac( new syste4 t(at is develo#ed,

., Acade4ic

0, t(e co4#any (as a stron! connection wit( en!ineerin! students,

O6viously t(ey want to (ave t(e 6est students workin! )or t(e4,

Weaknesses

', Stock 4arket

&, s(ares )ell over 0 , T(e 4aority is losin! trust in t(e co4#any,



O(io Medical 5or#oration

Summary

T(e co4#any stands )or (i!( Cuality and several services and <nds it very

i4#ortant to 6e reco!ni;ed 6y t(eir custo4ers as an i4#rovin! co4#any in

res#iratory: 4edical and industrial !asBvacuu4 syste4s, T(ey are always tryin! to

4eet t(eir custo4ers= needs wit( innovative and (i!( Cuality #roducts w(ileo/erin! an e2tendin! service, T(ey attac( (i!( i4#ortance in 4eetin! and

understandin! custo4ers= needs and (onorin! o6li!ations towards t(e4 wit(

inte!rity and res#ect,

Strengths:

', Market s(are in 5olo46ia,

T(e #roducts o) O(io are used in 4ost (os#itals in 5olo46ia w(ic( 4akes t(e4 a

stron! co4#etitor

&, i!( co44it4ent to nonHlate2 #roducts,

late2H)ree state4ent

%, i!( co44it4ent to custo4ers,

i4#ortance in 4eetin! custo4ers= e2#ectations, 5or#orate Social Res#onsi6ility is

one o) t(e key )actors to t(eir success

+, road ran!e o) #roducts,

se#arated into clinical: 4edB!as and industrial #roducts 6ecause t(ey are not only

active in t(e 4edical sector 6ut in de industrial sector as well, ecause o) t(is t(eyare a6le to s#read t(eir risks,

Weaknesses:

', >acilities in nited States and 5anada


T(e co4#any (as a (i!( co44it4ent to Cuality, T(e custo4ers can see t(is

t(rou!( t(e develo#4ent o) t(e #roducts and custo4er service and su##ort, T(ey

<nd it very i4#ortant to o/er t(eir custo4ers nonHlate2 #roducts w(enever andw(erever #ossi6le, T(is in co46ination wit( t(eir co44it4ent to t(e custo4ers,

T(ey (ave 6uilt a stron! na4e and re#utation over t(e #ast +- years, T(e (os#itals

6uy t(eir #roducts 6ecause o) t(e stron! re#utation o) 6ein! a !ood 4anu)acturer o)

relia6le #roducts, $n addition: t(ey are a worldwide leadin! su##lier o) t(e #roducts,



Colombia



SENSOR MED$5AL: LTDA is one o) t(e retailers w(ic( sells t(e #roducts o) t(e O(io

Medical 5or#oration in 5olo46ia,

Testo

Summary

Testo is 4arket leader in 4easurin! tec(nolo!y wit( its (eadCuarter 6ased in"er4any, T(e co4#any (as %* su6sidiaries: 1* a!encies worldwide wit( a 4ini4u4

o) &+-* e4#loyees, T(ey are s#eciali;ed in develo#in!: #roducin! and 4arketin!

#orta6le and stationary 4easurin! tec(nolo!y, T(ey (ave two a!encies in 5olo46ia

s#eci<cally 5olsein in 5undina4arca and MN TE5NOLO"$ES in o!ota, Testo

)ocuses on t(e develo#4ent o) innovative 4easurin! eCui#4ent includin! t(e

cli4ate tec(nolo!y: )ood industry: and construction and e4ission analysis,

Strengths:

', Lar!e nu46er o) su6sidiaries and a!encies worldwide

&, "reat invest4ent in t(e )uture

%, i!(ly Cuali<ed sta/

+, "reat value on service

-, 7ide ran!e o) #roducts

Weakness:

', Less )ocus on clean roo4 dis#lays

&, $n co4#arison wit( PEDAK: less )ocus on 4eetin! custo4ers=

e2#ectations


T(e co4#any (ad revenue o) &&' 4illion euro=s in &*'&, $n addition to (i!(ly

Cuali<ed sta/: t(e 6asis o) t(eir success is t(e a6ove avera!e invest4ent in t(e

)uture, T(ey invest '* o) t(eir worldwide revenue in Researc( and Develo#4ent

w(ic( is a very success orientated ste# near t(e )uture, T(e co4#any attac(es

!reat value on service, T(eir 4otto is 4ore service eCuals (i!(er Cuality, T(e

accuracy and userH)riendliness are very i4#ortant )actors, $n addition t(ey o/er a

wide ran!e o) #roducts,



5onclusion T(e #otential co4#etition )or PEDAK in 5olo46ia is sti/: 6ot( in t(e (ealt( care as

in t(e industry 4arket, T(eir #otential co4#etitors are all 6i! co4#anies wit(

decades o) international e2#erience in t(e <eld o) 4easure4ent eCui#4ent w(ic(

(ave (ad !ood success not only in 5olo46ia 6ut in total Latin A4erica,

$n t(e (ealt( care 4arket: PEDAK would 4ainly 6attle t(e co4#anies O(io Medical

5or#oration: National $nstru4ents 5or#oration and Sie4ens, $n t(e (i tec( industry:

t(e 6i!!est co4#etitor )or PEDAK is Testo,

Siemens

Sie4ens as PEDAK values and o/ers innovative #roducts co46ined wit( #ersonal

service, Alt(ou!( it sells rat(er e2#ensive #roducts: it (as a (u!e 4arket s(are in

t(e (ealt( care 4arket and already su##lies )or a nu46er o) (ealt( care institutions

in 5olo46ia, T(e co4#any (as its own su6sidiary in 5olo46ia and nu4erous

#artners(i#s wit( (os#itals,

(&io 1edical Corporation

Re4iniscent o) Sie4ens: t(e O(io Medical 5or#oration: also (as a (u!e 4arket

s(are in t(e (ealt( care 4arket and already su##lies 6i! (os#itals o) 4easure4ent

#roducts, T(e co4#any sells its #roducts t(rou!( local retailers suc( as SENSOR

MED$5AL,

2ational Instruments Corporation

T(is co4#any (as years o) e2#erience and Cuality #roducts : and is #art o) t(e N$

Alliance Partner Network w(ic( allows it to easy locate #artners in 5olo46ia,

Testo

$n 5olo46ia: Testo 4ainly works wit( two a!ents: s#eci<cally 5olsein in5undina4arca and MN TE5NOLO"$ES in o!ota, Testo #rovides t(ese a!ents wit(

(i!( Cuality #roducts and t(ese a!ents add a client s#eci<c 4entality and

knowled!e o) t(e 5olo46ian 4arket,

PEDAK s(ould consider really well w(et(er to e2#andBe2#ort to t(at 4arket or not

6ased on di/erent relevant #oint o) views, ut certainly it does not see4 t(e 4ost

o##ortunistic 4arket 6ased on a co4#etitor analysis,



!istribution analysis



Distri6ution 4et(od T(e 4ain consu4ers )or t(e clean roo4 dis#lays )ro4 PEDAK in 5olo46ia are #u6lic

and #rivate (os#itals,

$n t(e Net(erlands PEDAK usually sells its cli4ateH#roducts t(rou!( 4iddle4en:

suc( as installation co4#anies, T(e clean roo4 dis#lays need to 6e installed and

custo4i;ed to needs o) t(e s#eci<c (os#ital in Cuestion and in t(e lon! run need to

6e serviced, >or t(ese reasons: it can 6e concluded t(at #ersonal service is needed

)or t(e clean roo4 dis#lays, T(is #ersonal service is t(e #recise added value t(at

PEDAK wants to add to its #roducts,

Distri6ution c(annels in 5olo46iaAccordin! to OSE5 re#ort on Medical and P(ar4aceutical #roducts in

5olo46ia8&*'*9: t(ere are two c(annels o) distri6ution in t(e country re!ardin!

4edical eCui#4ent: s#eci<cally t(e institutional c(annel and t(e co44ercial

c(annel, T(e institutional c(annel consists o) 6ot( t(e #rivate and t(e #u6lic sector,

Public sector

T(e 4ost i4#ortant entities to t(e #u6lic sector are local aut(orities )or instance

de#art4ents and 4unici#alities: #u6lic (os#itals: and institutions suc( as t(e

National Tec(nical Trainin! 5enter 8Servicio Nacional de A#rendi;ae [ SENA in

S#anis(9, Additionally: la Nueva EPS t(at re#laced t(e old $nstituto de Se!uros

Sociales 8$SS9 and t(e Military are notewort(y !rou# o) actors wort( to 4ention,

T(e #u6lic sector 4akes its #urc(ases t(rou!( #rocure4ent #rocesses takin! into

account t(e ne2t 4et(ods o) selection or c(oice o) contractor@ 6iddin!: s(ort lists:

tenders on 4erit and direct contractin!,

Private sector

T(e #rivate institutional c(annel is incor#orated 6y Social 5o4#ensation >unds: t(e

lar!est o) t(e 6ein! 5A>AM: 5OLSS$ D$O and 5OMPENSAR, Private ealt( Provider

$nstitutions 8P$9 suc( as t(e $nstituto del 5ora;Wn in ucara4an!a: os#ital

Pa6lo Ta6on ri6e in Medellin: t(e 5entro Mdico $46anaco in 5ali and t(e

os#ital niversitario Santa >e de o!otQ: a4on! ot(ers: EPSs suc( as

5OLSAN$TAS: SALD5OOP: 5OOMEGA and >AM$SANAR, T(e co44ercial c(annel

consists o) i4#ortin! co4#anies and w(olesalers suc( as JONSON JONSON DE

5OLOM$A: OSTON S5$ENT$>$5 5OLOM$A LTDA,: ST, JDE MED$5AL 5OLOM$A

LTDA,: SNTES 5OLOM$A S,A,: LAORATOR$OS AXTER S,A,: and S$EMENS S,A,,

A4on!st t(e retailers are LO5ATEL 5OLOM$A and >TRO: are wort( to 4ention,

Multinational co4#anies located in 5olo46ia suc( as %M: AXTER: >RESEN$S:

JONSON V JONSON DE 5OLOM$A serve 6ot( t(e do4estic and ADEAN 4arket

8Ecuador and Gene;uela9,



Distri6ution 4et(od )or PEDAK in 5olo46ia$t is advised )or PEDAK to use a distri6utor to sell its #roducts 6ecause o) t(e

#ersonal service t(e clean roo4 dis#lays reCuire and 6ecause o) t(e s#eci<c

knowled!e o) t(e 5olo46ian 4arket a distri6utor adds, T(e )ollowin! list o)

co4#anies are known i4#orters o) 4edical and sur!ical )urniture and accessories

w(ic( could serve as distri6utors )or PEDAK@

H T(e 4aor co4#anies t(at i4#ort 4edical and sur!ical )urniture into

5olo46ia are@

', OSP$MED$5S S,A,

&, AMARE NOGA MED$5AL S,A, 8AP 00%9

%, LEAS$N" DE O55$DENTE S,A, 5OMPAN$A DE

>$NAN5$AM$ENTO5OMER5$AL

+, L$5ON DE 5OLOM$A L$M$TADA

-, OSP$TAL PALO TOON R$E

., S$ON MED$5AL LTDA

0, $NDSTR$A AMER$5ANA DE 5OL5ONES $NDAMER5OL SA

1, >NDA5$ON SANTA>E DE O"OTA

3, DRA"ER 5OLOM$A S,A,

H T(e 4aor co4#anies t(at i4#ort sur!ical instru4ents and a##aratusinto 5olo46ia are@

', JONSON JONSON DE 5OLOM$A A P *0+

&, OSTON S5$ENT$>$5 5OLOM$A LTDA,

%, ST, JDE MED$5AL 5OLOM$A LTDA,

+, SNTES 5OLOM$A SA AP *--&

-, LAORATOR$OS AXTER S,A, AP 5OD, *00

., S$EMENS SO5$EDAD ANON$MA

0, D$SORTO LTDA

1, MED$MANA 5OLOM$A S,A,

3, >,N,E, PARA , RAN MED$5AL S,A,



'*,P$L$PS 5OLOM$ANA DE 5OMER5$AL$A5ON S,A



>airs>airs could 6e an e/ective way )or PEDAK to #ro4ote its clean roo4 dis#lays to

#otential distri6utors or even endHusers, T(e 4ost i4#ortant )airs )or t(e 4edical

eCui#4ent sector in 5olo46ia are@

Meditec( &*'+ o!ota@ Medical >air: 5olo46ia

Dates@ '&t( H'-t( o) Au!ust &*'+

ased in@ o!ota:5olo46ia

Sector@ ealt( and Medicine

7e6#a!e@ (tt#@BBwww,)eria4editec(,co4B

o!ota $nternational >air

Dates@ &3t( o) Se#te46er [ %t( o) Octo6er &*'+

ased in@ o!ota: 5olo46ia

7e6#a!e@ (tt#@BBwww,)eriainternacional,co4B

Alt(ou!( t(is is not s#eci<cally a )air )or 4edical eCui#4ent: it is a well known

industry )air w(ic( is o#en to 6uyers o) a certain s#eci<c #ro<le@ entre#reneurs:

#ro)essionals and national and international trade

4issions interested in acCuirin! tec(nolo!y ti#s: wit( as

!oal to 6e u# to date wit( t(e latest develo#4ents in

t(eir industry and to 4ake i4#ortant contacts w(ic(

could 6e o) added value in )uture 6usiness,



S3(TStrengt&sH 5usto4er oriented

H Ent(usiastic co4#any culture

H 5lear (ierarc(yH Productive: creative and s#eciali;ed sta/

H "ood relations(i# wit( its su##liers

H >inancially (ealt(y

H Productivity and creativity are (i!(: as t(e director includes (is e4#loyees in t(e

decisionH 4akin! #rocess

H S#eciali;ed sta/

3eaknessesH 5o4#any is de#endent on one sin!le #illar

H S4all sta/

H No real tea4 workin! in t(e oFce

H S#anis( co44unication li4itations,

(pportunitiesH 5entrali;ed 4arket wit( o!otQ as 6i!!est 4arket to )ocus on

H "overn4ent s#endin! on t(e (ealt( sector

H An o#en door to ot(er Latin A4erica countries and t(e nited States

H "overn4ents re)or4s to u#!rade tec(nolo!y in (os#itals and clinics

H "rowin! econo4y

H '** #ro#erty owners(i# )or )orei!n investors

H Planned !overn4ent invest4ent in wel)are #ro!ra4s

H T(e cor#orate ta2

H A4ount o) (os#itals

H $n)rastructure

H "overn4ents re)or4s to u#!rade tec(nolo!y in (os#itals and clinics

H "overn4ent s#endin! on t(e (ealt( sector

H Positive econo4ic !rowt(

H >ree trade relations(i# wit( t(e nited States,

T&reatsH 5orru#tion in t(e (ealt( sector

H T(e #olitical landsca#e o) 5olo46iaH De#endence on oil as 4ain e2#ort #roductH $n)rastructure de<ciencies w(ic( (inder econo4ic !rowt(H SecurityBSa)ety8>AR59H "rowin! 5orru#tionH >inancial state #u6lic (os#italsH '+ #er cent o) t(e #o#ulation still don=t (ave a universal (ealt( insuranceH 5orru#tion is still a #ro6le4 in t(e (ealt( sectorH Ot(er re)or4sBlaw did not worked in t(e #ast



1arket context

International Trends

T(e re)or4s (ealt( care syste45urrently: t(e 5olo46ian !overn4ent is tryin! to #ass a 6ill t(at will re)or4 t(e

(ealt( care syste4 in 5olo46ia, T(e current (ealt(care syste4 consist o) a #rivate

inter4ediary or!ani;ation: called EPs: w(ic( 4ana!es #u6lic (ealt( )unds )or

individual treat4ent, 5olo46ians c(oose w(ic( EPS t(ey wis( to re#resent t(e4:

!ivin! t(e co4#any #ower to allocate resources )or treat4ent and c(oose services

on t(eir 6e(al),

$n t(eory: t(e EPS acts as an inter4ediary 6ody w(ic( tries to kee# down overall

costs 6y !ivin! individual 5olo46ians !reater levera!e in t(e (ealt( 4arket, $n

#ractice: t(e EPSs (ave 6een widely unet(ical: creatin! 6ureaucratic 6arriers )or

treat4ents: wit((oldin! #ay4ents: and investin! )unds in areas w(ic( do not relateto (ealt( care,

T(e !overn4ent wants to e2tract t(e inter4ediary=s #ower to 4ana!e #u6lic )unds

t(rou!( t(is new re)or4 and i4#le4ent a sin!le !overn4ent #ool: called Salud Mia

to acts as a distri6ution center )or t(e !overn4ent 6ud!ets )or annual (ealt(care

costs,

T(is re)or4 !ives t(e !overn4ent 4ore #ower and increases t(e #ossi6ility o)

corru#tion in t(e (ealt( care 4arket, 85olo46ia Re#orts &*'%9

5olo46ia=s !ettin! easier to do 6usiness inAn Euro4onitor re#ort s(owed t(at 5olo46ia is currently ranked +%rd o) '13

econo4ies in t(e 7orld ank=s Ease o) Doin! usiness &*'+ re#ort, $t (as i4#roved

in t(e cate!ories@

• Protectin! investors

• "ettin! electricity

T(ese c(an!es (ave co4e a6out 6y t(e current trend o) #roH6usiness re)or4s, $t is

likely to continue t(is trend in t(e )uture in order to !ain 4ore )orei!n invest4ent in

#articularly t(e $T sector,

$T usiness trendAccordin! to 5DN 8co4#uterdealernews9 a trend in 5olo46ia is t(e $T 6usinesso##ortunities, 5olo46ia is one o) t(e 6i!!est $T and PO #layers in t(e world, POstands )or usiness #rocess outsourcin! and is a 6asically 6ack oFce outsourcin!:w(ic( includes internal 6usiness )unctions suc( as (u4an resources or <nance andaccountin!: and )ront oFce outsourcin!: w(ic( includes custo4erHrelated servicessuc( as contact centre services,



5o4#ared to t(e 4arket leaders t(e P(ili##ines and $ndia: 5olo46ia (as a 4oreaccessi6le way in o/erin! PO, T(e si2 4aor re!ions in 5olo46ia (as t(e #otentialto su##ort success)ul so)tware !rowt(: 6usiness outsourcin!: or in)or4ationtec(nolo!y cor#orate services: due to a construction o) new <6re connection: w(ic(will allow connectin! o) 3. in &*'+,

5o4#anies suc( as $M 5or#: Ki46erlyH5lark: 5onver!ys and ewlettHPackard 8P9already 4ade so4e recent invest4ent in 5olo46ia: w(ic( created o6s in t(eso)tware develo#4ent: en!ineerin! and 4arketin! sectors,

5olo46ia also started to work to!et(er wit( 5anada: via a >ree Trade A!ree4entand a Dou6le Ta2ation A!ree4ent: to increase invest4ent 6etween t(e countries,Accordin! to a #resentation 6y ProE2#ort: 5anada is res#onsi6le )or %,. o)invest4ent in 5olo46ia: wit( a co46ined total invest4ent o) ',% 6illion 6etween&*** and &*'*,

Ta2 re)or4s trendA trend in 5olo46ia is t(e new !overn4ent #olicies includin! ta2 re)or4s, T(anks to

t(e various ta2 re)or4s since &**. t(ere is 4ore )airness and trans#arency )or

6usiness co4#anies, 5onseCuently: t(e rates (ave 6een reduced,

• %1:. in &**.

• %% in &**1

• &- in &*'&

A 3 eCuity levy is i4#osed on co4#anies to co4#ensate )or t(e loss until &*'-,

A)ter &*'- t(e rate will 6e reduced to 1, T(anks to t(ese re)or4s it is 4oreinterestin! )or )orei!n co4#anies to start a 6usiness in 5olo46ia, Li6erali;ation

leaded to unin(i6ited )orei!n owners(i#s in several sectors like @

• Teleco44unications

• Accountin!

• Ener!y

• Minin! and touris4

Silicon Galley o) LatinHA4erica$n &*'& t(e 7all Street Journal called Medellin t(e t(ird 4ost innovative city o) t(e

world w(ic( was a sur#rise, T(e reason t(at it was suc( a sur#rise (ad to do wit(t(at '* years a!o t(e city (eld t(e title o) Y5oke ca#ital o) t(e world=, 7(at t(e

4asses does not know is t(at in t(e #ast years t(e country 5olo46ia (as reac(ed to

#osition itsel) as a Silicon Galley o) LatinHA4erica,

5olo46ia (as a di/erent #olicy in co4#arison wit( t(eir co4#etitors Peru and ra;il

t(at also <!(t )or 6eco4in! t(e LatinHA4erica Silicon Galley,



5(ile (as a startHu# #ro!ra4 since &*'* to attract )orei!n startHu#s 6y o/erin! t(e4

a +*,*** invest4ent !rant, ra;il (as also a si4ilar #ro!ra4 since &*'% in w(ic(

t(ey o/er startHu#s an invest4ent a4ount u# to '**,*** in t(e #eriod o) a year,

5olo46ia=s #ro!ra4 is totally di/erent,

5olo46ia did not wanted to take t(e sa4e a##roac( o) !ivin! away (u!e a4ount o) 4oney to )orei!ners and t(en see t(e4 leave wit(out 4akin! develo#4ents as

(a##ened in 5(ile, 5olo46ia (ad anot(er way to sti4ulate t(e !rowt( and

attraction o) )orei!ners and doin! t(is 6y o/erin! venture ca#ital, $n t(is a##roac(

o) !ivin! only t(e necessary <nance t(ere are less risks: 4ore control and a (i!(er

#roductivity, y o/erin! venture ca#ital 5olo46ia also earns 4oney 6y ownin!

eCuities in t(e co4#anies t(ey invest in,

T(e 4ore international a##roac( to entre#reneurs(i# is anot(er way in w(ic(

5olo46ia distin!uis(ed itsel) )ro4 t(e co4#etitors, 5olo46ia di/er itsel) 6y

#ro4otin! t(e e2#ort o) tec(nolo!ical #roducts and services instead o) only )ocusin!

on t(e national 4arket, >or t(is a##roac( 5olo46ia takes advanta!e o) t(eir uniCuestrate!ic !eo!ra#(ical location, 5olo46ia is t(e only country w(o connects Sout(

and 5entral A4erica and wit(in a distance o) ust % (ours )ro4 Mia4i, 5olo46ia also

s(ares t(e sa4e ti4e ;one as t(at o) New ork, All t(ese 6ene<ts t(at 5olo46ia

(aves !ive access to a 4arket o) -% 4illion is#anics in t(e nited State, T(is

4arket o) is#anics )ro4 t(e nited States (aves a s#endin! #ower o) ',& trillion

dollars accordin! to T(e >inancial Ti4es, T(is also attract )orei!n startHu#s to

#osition t(e4selves in t(e country and 6y doin! t(is t(ey are (el#in! 5olo46ia in

6eco4in! t(e Silicon Galley o) LatinHA4erica,



0ele*ant legal 4international5 principles# regulations#

directi*es in*ol*ed in globaliation strategies

Re!ulations T(e P(ar4aceutical $ndustry )ollows international standards: and es#ecially t(ose

)ro4 7orld ealt( Or!ani;ation, T(ere are two institutions t(at are res#onsi6le )ort(e re!ulations and #olicies in 5olo46ia ,Na4ely: T(e Ministry o) Social Protection

and t(e $NG$MA,

T(e $NG$MA is an or!ani;ation t(at c(ecks t(e Cuality and sa)ety o) t(e #roducts, $)

you want to use t(eir services you need to re!ister t(e co4#any w(ic( is #ossi6le

on t(eir we6site,

5olo46ia o/ers duty )ree ;ones in Sout(H A4erica to (el# )orei!n co4#anies to

serve t(e local 4arket, T(e cor#orate ta2 is dro##in! eac( year as well, T(e a4ount

o) ta2 in 5olo46ia is 6ased on net inco4e o) co4#anies

5or#orate ta2

Actual Pre*ious %ig&est 6owest 7orecast !ates

&-,** &-,** %-,** &-,** &-,** ] &*'+B*. &**. [ &*'+

Treaties5olo46ia (olds 4any international a!ree4ents related to )orei!n invest4ent

#rotection, T(ere is a treaty wit( t(e E since &. June &*'&,T(is 4eans t(at 6uyin!

and sellin! #roducts 6etween t(e E and 5olo46ia is 6eco4e easier, Anot(er e/ect

o) t(is treaty is t(at os#itals and #rivate 4edical investors are 4uc( 4ore likely to

c(oose Pedak as a su##lier 6ecause o) t(e ta2 6ene<ts, To receive t(e tari/



#revention you need to #roo) t(e ori!in o) your !oods, T(ere)ore: you need a

certi<cate t(at is !iven 6y t(e Douane or T(e Ministerio de 5o44ercio,

elow you can <nd t(e 4ost i4#ortant treaties )or t(e #(ar4aceutical sector: suc(

as@

• Overseas Private $nvest4ent 5or#oration H OP$5

• Multilateral $nvest4ent "uarantee A!ency H M$"A

• $nternational 5enter )or t(e Settle4ent o) $nvest4ent Dis#utes H $5S$D

• Andean Pro4otion 5or#oration H 5A>

Le!al #rinci#les T(e 5olo46ian law ena6les co4#anies to solve t(eir conIicts t(rou!( ar6itration,

ot( #arties are )ree to c(oose t(e ar6itrators 6ut nor4ally a t(ird #arty selects t(e

ar6itrators,

7(en (avin! a conIict wit( a !overn4ent institute it #ossi6le to use ar6itration as

well, T(is way o) solvin! #ro6le4s is 4uc( )aster and c(ea#er t(an !oin! to t(e

court, $n s4all conIicts only one ar6itrator is needed,

(In case that legal procedures are needed to be taken)

$n 5olo46ia t(ere are t(ree ways to e2ert ar6itration @

U $nde#endent

U 8#arties 6y t(e4selves 9

U $nstitutional

8#rocedures 6y ar6itration center9U Le!al

8 T(ere is no a!ree4ent 6etween t(e #arties

Cross cultural 8eld analysis

$t is i4#ortant )or Pedak to (ave a certain knowled!e o) t(e cultural di/erences t(at

4i!(t cause #ro6le4s w(en doin! 6usiness wit( 5olo46ia,

T(e #ower distance o) 5olo46ia is .0 w(ile Pedak (as a score o) ++, T(is is a

di/erence o) &%, 5olo46ians t(inks it is nor4al to (ave ineCualities 6etween #eo#le,

ou can see t(ese ineCualities in t(e layers o) t(e society, A director o) a co4#any

(as 4ore concentrated #ower t(an t(e 4ana!e4ent tea4: w(ile t(e 4ana!e4ent



tea4 (as 4ore concentrated #ower t(an (is e4#loyees, $t is i4#ortant to send

so4e6ody o) (i!( )unction wit(in t(e co4#any to do 6usiness in 5olo46ia due to

t(e (i!( #ower distance, ierarc(y is very i4#ortant to t(e4, $t is o) (i!(

i4#ortance t(at t(ey deal wit( #eo#le o) si4ilar classBstatus,

$n individualis4 t(e 5olo46ians (ave a score o) '%: w(ile Pedak scores --, T(is is adi/erence o) +&, T(is low score in individualis4 s(ows t(at 5olo46ians (ave a

collectivist culture, T(ey 6elieve t(at !rou# o#inions are very i4#ortant, $t is

i4#ortant to 6e loyal to t(eir !rou# and to avoid discussions, $t is also i4#ortant to

create relations(i#s to 6eco4e #art o) t(e !rou#: 6ecause Youtsiders= are o)ten

considered as ene4ies, So: in a 6usiness at4os#(ere: we advise to <rst esta6lis( a

relations(i# wit( t(e #ossi6le custo4ers 6e)ore !ettin! into 6usiness, 7atc( out

wit( 6ein! too direct: t(is could 6e 4isinter#reted as rudeness, Trust is very crucial

w(en doin! 6usiness wit( 5olo46ians, T(at=s w(y we advise not to )ocus too 4uc(

on t(e 6usiness 4atter w(en (avin! a conversation, Try to talk a6out ot(er

i4#ortant 4atters suc( as )a4ily <rst,

5olo46ians (ave a score o) .+ in 4asculinity w(ile Pedak scores +', T(is is a

di/erence o) &%, T(is (i!( score in 4asculinity s(ows t(at 5olo46ians are driven 6y

co4#etition and ac(ievin! success in w(at t(ey do, T(e co4#etition is always

towards ot(ers instead o) internal co4#etition: wit( re!ard to relatives close 6y,

>or t(e4 seekin! acce#tance in ot(er !rou#s !ive t(e4 a sort o) status, ecause o)

t(e )act t(at 5olo46ians are 4ore success driven: t(is could 6e (el#)ul w(en

esta6lis(in! a relation, >or instance it would 6e use)ul to clari)y t(e advanta!es )or

t(e4 w(en tryin! to conduct 6usiness,

7(en lookin! at t(e 5olo46ian uncertainty avoidance we see a score o) 1*

co4#ared wit( Pedak=s score o) +%, T(is is a di/erence o) %0, T(e (i!( score inuncertainty avoidance s(ows t(at 5olo46ians don=t like tryin! new t(in!s, T(ey

stick to t(e rules w(ic( t(ey (ave )or everyt(in!: you can see t(is even in t(eir

reli!ion, T(e rules are not always )ollowed, $n !rou#s t(e rules de#end on t(e

!rou#s= o#inion, O)ten decision 4akers also 4ake t(eir own rules w(ic( are

)ollowed, 7(en doin! 6usiness everyt(in! (as to 6e #lanned detailed 6ut t(is

doesn=t 4ean t(at t(e #lannin! is )ollowed, T(e #roduct PEDAK #rovides is a

4easure4ent solution and 5olo46ians (ave a (i!( uncertainty avoidance, 7(ic(

4eans t(at t(ey )ear t(e unknown, PEDAK can use t(is as an advanta!e 6y

e2#lainin! w(at t(e dan!ers are 6y not usin! suc( #roducts, se t(eir )ear as an

advanta!e,

T(e 5olo46ian score )or #ra!4atis4 is '%: co4#ared wit( Pedak=s score o) -.: t(is

s(ows a di/erence o) +%, T(e low score o) t(e 5olo46ians s(ows t(at t(ey are

tryin! to ac(ieve !ood results as Cuick as #ossi6le, T(ey also attac( !reat

i4#ortance in traditions, T(ere)ore it is i4#ortant to )ocus 4ore on (ow t(e #roduct

is a6le to (el# t(e4 on t(e s(ort ter4,



5olo46ian (as a (i!( score in indul!ence w(ic( is 1%: w(ile Pedak (as a score o)

.0, T(is is a di/erence o) '., T(e (i!( score in indul!ence s(ows t(at 5olo46ians

are always tryin! to reali;e t(eir desires: 6ut t(ey always kee# in 4ind t(at enoyin!

li)e and (avin! )un are 4ore i4#ortant, T(ey (ave a #ositive attitude and are Cuite

o#ti4istic, T(ey s(ow !reater i4#ortance in leisure ti4e: t(at is w(y t(ey act as

t(ey #lease and s#end 4oney t(e way t(ey want to, So: w(en 6uildin! a relation:PEDAK s(ould !o into t(e 5olo46ian environ4ent, Ada#tin! to t(e li)estyle and

acce#t )ree ti4e #ro#osals wit( li4itations,



Do=s and Don=ts

!o !on9t

U Talk a6out )a4ily: (ealt(:s#orts 6e)ore doin! 6usiness

U Never rus( t(e #rocess

U ook 4eetin!s at least aweek in advance and alwayscon<r4 t(e4 6e)ore de#arture,Make a##oint4ents via tele#(oneor )a2,

U Never address so4eonewit( t(eir <rst na4e

U >ind a local contact to actas a !uarantor and inter#retersuc( as a re#resentative, T(eyare )a4iliar wit( (ow 6usiness(as to 6e done in t(e country,

U Do not yawn in #u6lic: t(isis i4#olite

U Always #ut relations(i#6e)ore 6usiness, T(e less6usiness you discuss t(e 6etter,

U Do not !et an!ry w(ent(ey are late )or an a##oint4ent:t(is is seen as nor4al,

U Always 4aintain eyecontact: t(is leaves a !oodi4#ression,

U Do not talk a6out #olitics:dru!s or reli!ion,

U Pay attention toa##earance, T(is is veryi4#ortant,

U Never decline invitations)or a 6ull<!(t: t(e tickets are verye2#ensive,

U T(ey love !i)ts 4ade inA4erica, "i)ts could 6e <nescotc(es: wine: en!raved #ens:calculators or a !i)t )ro4 (o4e,

U Never wear tennis s(oes to4eetin!s, T(e <rst t(in! t(eynotice are t(e s(oes,



7inancial perspecti*e

alance s(eet %'t( Dece46er &*'&>i2ed assets ^ ..:0.-,H

^ ..:0.-,H

ECuityU Paid ca#ital ^

'1:***,HU Pre4iu4 reserve ^01:1'1,H

U Ot(er reserve ^&&':++.,H

^ %'1,&.+,H,H5urrent assets

U $nventories ^''-:&0&,H

U De6tors ^&&1:'.1:H

U 5as( ^'+:'1-,H

^ %-0:.&-:H

Lia6ilityU STL ^

'*.:'&.,H

^ '*.:'&.,H

Total $nvested :;<;#=>?#@

Total >inancin! :;<;#=>?.@

LiCuidityNet 7orkin! 5a#ital@ ^ &-':+33,H5urrent Ratio@ %,%0_uick Ratio@ &,&1

Net workin! ca#italLookin! at t(e net workin! ca#ital: t(e value o) current assets is suFcient to covert(e s(ort ter4s lia6ility,

5urrent ratio$n t(e current ratio t(ere is 4ade a co4#arison 6etween t(e values o) t(e currentassets wit( t(e s(ort ter4 lia6ilities, T(e rule is t(at t(is outco4e s(ould 6e6etween t(e ',-* and &,**,

T(e current ratio o) Pedak 8%,%09 s(ows t(at not(in! is done wit( t(e liCuid assets, A

too (i!( current ratio 4eans t(at t(e co4#any (as too 4uc( liCuidity, T(e 4oneycan 6e 6etter invested or invest to !et 4ore returns,

_uick ratioA (ealt(y Cuick ratio s(ould (ave a value o) 4ini4al ',**, $n t(is case t(e Cuickratio is &,&1: t(is 4eans t(at Pedak is a6le to 4eet t(eir s(ortHter4 de6ts,



Paid ca#ital o) t(e co4#any a4ounts ^'1,***: divided into '1* ordinary s(ares o)^'**:H, T(e total issued s(ares is '1*,

Lia6ilities

>ro4 &*'* till &*'' t(e current lia6ilities decreased )ro4 ^&'',0&1:H to ^1+,3%-:H, T(is is a way t(at Pedak is )undin! t(e co4#any, T(e decrease s(ows t(at Pedak is#ayin! t(eir su##liers and t(at Pedak are doin! a !ood o6,

$n &*'& t(e current lia6ilities raised a!ain to ^'*.,'&.:H, T(is is also a !ood o6: asan increase (el#s t(e cas( Iow,

5onclusion T(e calculations (ave s(own t(at Pedak (as #ractically no risk o) econo4ic )ailure,Pedak (as t(e cas( to survive: no lon! ter4 de6t: suFcient cas( to #ay its s(ortHter4 de6ts: no inventory to worry a6out: and e2tre4ely stron! current and Cuickratios, $ts workin! ca#ital is also #ositive, $) Pedak would consider to reac( out to

investors t(e 4ain Cuestion an investor would ask w(en lookin! at t(e 6alances(eet is: w(y so 4uc( cas(?



S&ould Pedak enter into Colombia



1arketing 1ix



Annex

Internal analysis-PEDAK: PEDAK,nl: visited on &t( o) Marc( &*'+

xternal analysis5olo46ian E46assy: A6out 5olo46ia: (tt#@BBwww,colo46iae46,or!Boverview : visited on.t( o) Marc( &*'+

Se4ana:5olo46ia todava se raa en do4inio de in!ls)# (tt#@BBwww,se4ana,co4BvidaH4odernaBarticuloBnivelHdeHin!lesHcolo46iaHeducationH)rstHe#iB%.%3&%H%: visited 0t( o) Marc(&*'+

5olo46ian culture: 5olo46ia: (tt#@BBwww,everyculture,co4BoH5oB5olo46ia,(t4l6:visited 0t( o) Marc( &*'+

Dorland ealt(care: Latin A4erican V 5ari66ean os#ital Data6ase: (tt#@BBwe6,arc(ive,or!Bwe6B&**+*-*'*'*&%*B(tt#@BBwww,dorland(ealt(,co4Bd6H

la(,(t4: visited on 0t( o) Marc( &*'+

Proe2#ort 5olo46ia: '. 5olo46ian clinics a4on! t(e 6est +* in Latin

A4erica:(tt#@BBwww,#roe2#ort,co4,coBenB(ealt(Hcolo46iaB(ealt(Hturis4HnewsB'.H

colo46ianHclinicsHa4on!H6estH+*HlatinHa4erica: visited on 0t( o) Marc( &*'+

Maceira: Mesoa4erica: Nbtsc(ool: #, '%: visited on 0t( o) Marc( &*'+

Py4es: Doin! usiness [

5olo46ia:(tt#@BBwww,user!ioar6oleda,edu,coB#y4esBen!lis(Btrans#ort,(t4: visited

on 0t( o) Marc( &*'+

$n)oae: 5olo46ia des#la;W a Ar!entina co4o la tercera econo4a de A4rica

Latina: (tt#@BBwww,in)o6ae,co4B&*'+B*&B&1B'-+0*.0Hcolo46iaHdes#la;oHar!entinaH

co4oHlaHterceraHecono4iaHa4ericaHlatina: visited on '&t( o) Marc( &*'+

5$A t(e world )act6ook: 5olo46ia: (tt#s@BBwww,cia,!ovBli6raryB#u6licationsBt(eH

worldH)act6ookB!eosBco,(t4l : visited on '&t( o) Marc( &*'+

Euro#ean nion: EH5olo46ia trade a!ree4ent takes e/ect on ' Au!ust:

(tt#@BBtrade,ec,euro#a,euBdocli6B#ressBinde2,c)4?id`3-% : visite don '&t( o) Marc(

&*'+

GA researc(: 5olo46ia >las(:

(tt#@BBwww,66varesearc(,co4BKETDB)6inB4ultB'%'&'*>las(5olo46ia>itc(Ratin!s

tc4%+1H+'-&00,#d)?ts`'''&&*'% : visited on '&t( Marc( &*'+

http://www.infobae.com/2014/02/28/1547067-colombia-desplazo-argentina-como-la-tercera-economia-america-latina


https://www.cia.gov/library/publications/the-world-factbook/geos/co.html


http://trade.ec.europa.eu/doclib/press/index.cfm?id=953

http://www.bbvaresearch.com/KETD/fbin/mult/131210_FlashColombia_FitchRatings__tcm348-415277.pdf?ts=11122013






http://trade.ec.europa.eu/doclib/press/index.cfm?id=953





CIC! AnalysisRe#6lica de 5olo46ia, "o6ierno en lnea, Re!istro Sanitario de dis#ositivos

4dicos y eCui#os 6io4dicos Cue no sean de tecnolo!a controlada i4#ortados

5lase $ y $$A, Retrieved )ro4 (tt#s@BBwww,!o6iernoenlinea,!ov,coBtra4ite,as#2?

tra$D`+-*+ on Marc( &* &*'+

o)stede: ", 7(at a6out 5olo46ia?, Retrieved )ro4 (tt#@BB!eertH

(o)stede,co4Bcolo46ia,(t4l on Marc( &* &*'+

Sice2, 5olo46ia $4#orts y Su##lier 8O(io Medical 5or#9, >ound on

(tt#@BBwww,sice2,co4Bi4#ortersHe2#ortersH#roductsBsisduanBENB+&%H'H*H

'%1'*0B5olo46iaB$4#ortsBO$OfMED$5ALf5ORPB on Marc( &* &*'+

El5olo46iano, &*'% Dece46er &1, 5uatro (os#itals colo46ianos entre los '*

4eores de Latinoa4rica, >ound on

(tt#@BBwww,elcolo46iano,co4Banco5onoci4ientoB5Bcuatro(os#italescolo46ianos

entrelos4eores'*dea4ericalatinaBcuatro(os#italescolo46ianosentrelos

4eores'*dea4ericalatina,as# on Marc( &* &*'+

(tt#@BBwww,(ealt(care,sie4ens,co4Bin)rastructureHitB(os#italH#roectsHandH

consultin!B4ana!edHeCui#4entHserviceBw(yHsie4ensH4es 8visited on % A#ril &*'+9

(tt#@BBwww,sie4ens,co4Ba6outBenBvaluesHvisionHstrate!yBstrate!y,(t4 8Gisited on %

A#ril &*'+9

(tt#@BBwww,industry,sie4ens,co4Bto#icsB!lo6alBenB4a!a;inesBindustryHournalB&H

&*'&BDocu4entsBSie4ens5olo46iaEN,#d) 8Gisited on 0t( o) May &*'+9

(tt#@BBwww,ni,co4Bco4#anyBourHvisionB 8visited on % A#ril &*'+9

(tt#@BBwww,;acks,co4BstockBnewsB'&'.1-B7eaknessHSeenHinHNationalH$nstru4entsH

5or#orationHNAT$HStockHTu46lesH0* 8 visited on % A#ril &*'+9

(tt#@BBwww,ni,co4B#d)Bco4#anyBenB%-***3>H*'H*%'11H5or#Hroc(ureH>"r,#d)

8 visited on % A#ril &*'+

www,testo,co4 8visited on +t( A#ril &*'+9

www,o(io4edical,co4 8visited on -t( A#ril &*'+9

1arket context Taran Golck(ausen: 5olo46ia 4edical workers continue #rotest a!ainst (ealt(

re)or4 6ill: 5olo46ia Re#orts8Octo6er &*'%9: (tt#@BBcolo46iare#orts,coBcolo46iaH

4edicalHworkersHcontinueHstru!!leH#residentsH(ealt(Hre)or4H6illB: visited on &.t( o)

Marc( &*'+

https://www.gobiernoenlinea.gov.co/tramite.aspx?traID=4504


http://www.elcolombiano.com/BancoConocimiento/C/cuatro_hospitales_colombianos_entre_los_mejores_10_de_america_latina/cuatro_hospitales_colombianos_entre_los_mejores_10_de_america_latina.asp%20on%20March%2020%202014



http://www.healthcare.siemens.com/infrastructure-it/hospital-projects-and-consulting/managed-equipment-service/why-siemens-mes


http://www.siemens.com/about/en/values-vision-strategy/strategy.htm

http://www.industry.siemens.com/topics/global/en/magazines/industry-journal/2-2012/Documents/Siemens_Colombia_EN.pdf


http://www.ni.com/company/our-vision/

http://www.zacks.com/stock/news/121685/Weakness-Seen-in-National-Instruments-Corporation-NATI-Stock-Tumbles-70


http://www.ni.com/pdf/company/en/350009F-01-03188-Corp-Brochure-FGr.pdf

http://www.testo.com/

http://www.ohiomedical.com/








http://www.siemens.com/about/en/values-vision-strategy/strategy.htm



http://www.ni.com/company/our-vision/



http://www.ni.com/pdf/company/en/350009F-01-03188-Corp-Brochure-FGr.pdf

http://www.testo.com/

http://www.ohiomedical.com/



Euro4onitor8&*'+9: usiness Environ4ent@ 5olo46ia:

(tt#@BBwww,#ortal,euro4onitor,co4,e;#ro2y,(ro,nlBPortalBPa!esBSearc(BSearc(Results

List,as#2: visited on &.t( o) Marc( &*'+

5o4#uterdealernews: Dece46er '%t( &*'&: 5olo46ia=s E4er!in! $T Power: and

Aut(or@ 5(ris Ro!ers: (tt#@BBwww,co4#uterdealernews,co4BnewsBcolo46iasHe4er!in!HitH#owerB''&-% 8visited on &.t( Marc(9

ProE2#ort: Dece46er '+t( &*'&: "reat $T usiness O##ortunities )or 5olo46ia:

(tt#@BBwww,investincolo46ia,co4,coBnewsletterB.'+H!reatHitH6usinessHo##ortunitiesH

)orHcolo46ia,(t4l 8visited on &.t( Marc(9

5ountry Analysis Re#ort@ 5olo46ia: $nHde#t( PESTLE $nsi!(ts

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5olo46ia cor#orate ta2 rate, (tt#@BBwww,tradin!econo4ics,co4Bcolo46iaBcor#orateH

ta2Hrate Gisited on + May &*'+

Di4ensions o) o)stede: (tt#@BB!eertH(o)stede,co4Bcolo46ia,(t4l : visited on +t( o)

May &*'+

Kwintessential: (tt#@BBwww,kwintessential,co,ukBetiCuetteBdoin!H6usinessHcolo46ia,(t4l: visited on -t( o) May &*'+

eDi#lo4at: (tt#@BBwww,edi#lo4at,co4Bn#BculturaletiCuetteBceco,(t4 : visited on

+t( o) May&*'+

MNTE5NOLO"$ES: :(tt#@BBwww,4ntec(nolo!ies,co4,coB: visited on +t( o) May &*'+

5olsein: (tt#@BBwww,colsein,co4,coB?#a!eid`'*'3: visited on +t( o) May &*'+

http://www.computerdealernews.com/news/colombias-emerging-it-power/11253


http://www.investincolombia.com.co/newsletter/614-great-it-business-opportunities-for-colombia.html



http://online.wsj.com/ad/cityoftheyear

http://venturebeat.com/2013/09/29/the-silicon-valleys-of-latin-america-a-tale-of-3-nations/


https://www.invima.gov.co/index.php?option=com_content&view=article&id=3060&Itemid=2189


http://www.s-ge.com/en/filefield-private/files/6468/field_blog_public_files/7944


http://www.pincvision.com/nl/inzicht/nieuws/vrijhandelsakkoord_colombia

http://www.tradingeconomics.com/colombia/corporate-tax-rate


http://geert-hofstede.com/colombia.html

http://www.kwintessential.co.uk/etiquette/doing-business-colombia.html


http://www.ediplomat.com/np/cultural_etiquette/ce_co.htm

http://www.mntechnologies.com.co/

http://www.colsein.com.co/?page_id=1019





http://online.wsj.com/ad/cityoftheyear







http://www.pincvision.com/nl/inzicht/nieuws/vrijhandelsakkoord_colombia



http://geert-hofstede.com/colombia.html



http://www.ediplomat.com/np/cultural_etiquette/ce_co.htm

http://www.mntechnologies.com.co/

http://www.colsein.com.co/?page_id=1019



Sie4ens: (tt#@BBwww,industry,sie4ens,co4Bto#icsB!lo6alBenB4a!a;inesBindustryH

ournalB&H&*'&BDocu4entsBSie4ens5olo46iaEN,#d) : visited on +t( o) May &*'+

Testo: (tt#@BBwww,testoHinternational,co4Binde2,s# : visited on +t( o) May &*'+



http://www.testo-international.com/index.jsp



http://www.testo-international.com/index.jsp