- Posted March 24, 2014 by
Business Culture in Turkey for Business Persons
Today turkey is one of the most dynamic and attractive markets for the world investors, including start-up and huge corporations. Fortunately i have very good experience with Turkish business companies and can say that this amazing country has more opportunities than they using it today. Already sizeable, the Turkish economy will be the second fastest growing economy in the world by 2020. Turkey and Turkish companies isn't operating only in entire of Turkey as they are big capitalists worldwide like in eastern Europe and Asian countries, in last information most of turkish companies reaching African and American market too. Turkey with it's beautiful and strategic location is a hub of MENA and place where West meets East.
Talk about Turkish economy and Turkey is a case that can't to take one or two day, but here is important other and main thing for business and this is business culture. In my experience many investors especially if they are from different cultures can't to step this business culture, while each country has it's business culture and etiquette, but commonly they are same as global.
I can separate several concept in business culture of Turkey:
1) Building business relations in Turkey
In Turkey, because it is relationship-based, it is important that you make your first contact through a respected third party, such as the US Embassy or an international bank. Another way to make contact is through trade shows or a trade mission, especially if the trade mission is led by a senior official such as a governor or a senior member of the Commerce Department. Turkey is not a good place to try to make a direct contact. It is crucial to plan for plenty of time to build strong personal relationships, especially if you are on the selling side, or if you are negotiating a joint venture or a strategic alliance. If you are on the buying side, this is not quite so important, unless your objective is to get the best deal possible. The extra time is required for plenty of face-to-face meetings, many more than would be usual in the US, and lots of small talk, conversation, and wining and dining.
2) Business Etiquette in Turkey
Proper business etiquette is important to the Turks. Learn who is important to your negotiating process before you go. Know the hierarchy of your prospective business partner's organization because who you should be introduced to first is of extreme importance. Learn the proper titles and the proper pronunciation of names before you go. This will prove to be very beneficial to you during initial introductions. Using professional or occupational titles is the simplest way to address a Turkish business person. With non-professionals the process is complicated because of the traditional versus the modern form of address used in this country.
3) Doing business in Turkey
Individuals are responsible to the group, the collective unit, and within this unit, relationships are highly valued. Turks also have the ability to focus on many things at once, whether at home, at work or at social gatherings. They are not time oriented. Although the adherence to schedules is important, if someone is late for an appointment or social function Turks do not get alarmed because of their Islamic belief that everything that happens is predetermined, is out of their hands. Notably, Turks are curious, hospitable and sensitive people. They may have just met you; but, they will want to know everything there is to know about you and will ask very direct and personal questions. This is part of their nature. They will be understanding and helpful to those who are less fortunate and praise those who are more successful.
This advices can give you full understand of current situation about Turkish business culture, but remember that some differences may applicable, depending on type of persons.
Chief Executive Officer
I.B. Capital Management