Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
The journal of
high-performance business
Emerging Markets
45%
40
35
Beginning of demographic bonus
30
25
20
15
10
Ending of demographic bonus
5
0
1980
1983
1986
1989
1992
1995
1998
2001
2004
2007
2010
2013
2016
2019
2022
2025
2028
2031
2034
2037
2040
2043
2046
2049
Source: IBGE
2000 2010
Income Annual GDP PPP per capita Current international $ 7,203 Current international $ 11,066
Shopping cart Overview Staples and basic discretionary Staples basket expansion
Discretionary focus in electronics, vehicles,
beauty, travel and service
Staples Basic basket with additional categories Basic basket expansion with focus
such as yogurt and chicken on functional items, frozen foods and
prepared meals
Financing Overview Low access to credit, high interest Stable economic growth, accessible rates
rates and uncertainty about economy and easy access to credit
6
Outlook 2010
Number 3
Crucible of new ideas
Brazil’s business sector has attracted attention for what The nation is also creating new centers of knowledge. Petrobras
Accenture calls its “super-agile” management models. Today, and the Federal University of Rio de Janeiro are developing a
business schools such as IMD and Wharton regularly feature giant global research center for the oil sector. The technology
Brazilian case studies. “Brazilians are known for their ability park, which is expected to employ up to 5,000 researchers
to manage complex situations,” said Mauro Guillén, strategic by 2014 at Fundão Island in Rio, is designed to bring together
management professor at Wharton, following a field trip a leading oil-exploration companies to develop the technologies
few years ago to study Brazil’s financial systems. needed worldwide to access undersea oil reserves.
A recent academic study indicates that Brazilian multinationals Embrapa, the nation’s agricultural research center, has
such as Vale and Embraer excel because they demonstrate collaborated with agrichemicals company BASF to create
unusual organizational flexibility, for example, permitting and herbicide-tolerant soybeans—the first genetically modified
even incentivizing subsidiaries to be unusually independent. crop developed in Brazil. And Brazilian petrochemicals giant
Another winning Brazilian management characteristic identified Braskem is blazing trails in bioplastics—in this case, plastics
by the researchers: “active waiting”—that is, constantly moni- made from sugarcane ethanol. The company, which aims to
toring conditions and getting ready to give immediate answers, be one of the world’s 10 largest petrochemicals companies
as opposed to the traditional approach of focusing on short- a decade from now, is building a giant plant, due to open next
term planning and intuition. year, to produce so-called green plastics. Food packaging
company Tetra Pak International, part of Swiss conglomerate
Brazil has also blazed trails in financial services. Years of Tetra Leval, is set to be a customer. The bioplastics market has
hyperinflation compelled its banks to invest heavily to tremendous potential. For example, the Coca-Cola Co. expects
accelerate transaction times. Today, checks clear in one or all of the plastic bottles it ships in 2020 to be made from
two days, and direct debit accounts further streamline processing. bioplastics.
The World Bank has praised Brazil’s “efficient, highly automated
payment system.” Cash machines in Brazil can offer more
than 500 types of service, including bill payment, movement
between funds and opening savings accounts.
For further reading (Continued from page 5) rocketing, thanks to easier access
to credit and rising incomes.
“Gearing up for the two-speed global joint venture is projected to have
recovery,” Outlook, October 2010 revenues between $12 billion and In the financial sector, Brazil is
“Game over?” Outlook, June 2010 $21 billion a year. becoming more attractive for global
private equity and venture capital
Billionaire Chicago real estate funds. With several huge public
entrepreneur Sam Zell has already offerings on the Bovespa, Brazil’s
injected more than $500 million in stock exchange, in the last two
a number of Brazilian companies that years, the funds have more opportu-
specialize in property and infra- nities to cash out. (Among the high-
structure. He has also announced er-profile investments: US venture
plans for more investments in firm Weston Presidio helped capital-
construction projects that will help ize Azul Linhas Aéreas Brasileiras,
Brazil prepare to host the World Cup the budget carrier launched in 2008
and the Olympics. Meanwhile, the by David Neeleman, Brazil-born
housing sector continues to hum: In founder of JetBlueAirways.) Also,
2010, two of the country’s biggest in 2009, several new local venture
homebuilders, PDG Realty and Agre funds were created in Brazil to
Empreendimentos Imobiliarios, invest in infrastructure, real estate,
merged, and six of Brazil’s 13 agribusiness and clean energy.
share offerings in the first months
7
Outlook 2010
of 2010 were made by real estate At the same time, Brazil’s business
Number 3 companies. House prices are sky- sector is generating big FDI out-
flows. Energy colossus Petrobras, wide, from Turkey and China to
which is 68 percent privately Senegal and the United States. And
owned, is an enormous influence a host of Brazil’s private-sector
by itself. By 2014, the company is businesses—from meat processor
set to invest nearly $200 billion— JBS to mining giant Vale—are
with $12 billion in oil exploration, understood to be lining up acquisi-
refining and distribution world- tion targets around the world.
Of course, there are still plenty of potential brakes. The more the economy’s
annualized growth rate nudges 6 percent, the greater the fears of inflation.
Additionally, government spending as a proportion of GDP remains high,
and the current account deficit is expected to increase as the trade surplus
shrinks (with slowly recovering exports and quickly rising imports) and
profit repatriations rise. Moreover, currency appreciation due to high inflow
of dollars with increased resource exports may hinder competitiveness of the
local industry in favor of imports. For the most part, though, the prognosis for
the Southern Hemisphere’s superpower is very good. Few believe the incoming
administration will veer from the policies of the Cardoso and da Silva governments.
And with resources to spare, Brazil, an IMF creditor since 2009, is not about to
become a debtor nation again.
For executives in the rest of the world, the signals are all too clear. They have
Outlook is published by Accenture. a choice about whether their businesses get involved in Brazil, and they would
© 2010 Accenture. be unwise to ignore the abundant opportunities there. But they may not have
All rights reserved. a choice in whether Brazil soon gets involved in their businesses.
8
Outlook 2010
Number 3