Franchise, franchise, franchise! These were the words that everyone remembers and associates with the McDonald’s movie. This movie depicted the growth of the McDonald?s fast-food chain, but more than that, it illustrated the American way of doing business. In America, companies want to grow their operations, reduce costs, increase sales, etc. In Spain, this was not the case. When we visited a vermouth production plant in Sitges, Spain, we were exposed to a completely different way of doing business. So much so, that when we specifically asked the owner about their expansion plans, he responded that they did not have any. This vermouth production facility named Celler Diaz, and so many other businesses in Spain, are not in business to expand, make the most money, and keep up with the jones. These companies are in business because they are passionate about what they do or are just trying to make ends meet. Another example of the difference between the Spanish approach to business versus the American is in their daily siesta time. Later that same day after the Celler Diaz visit, one of the students attempted to purchase a hairdryer because hers had broken that morning. Consequently, we went to the nearest electronic store in Sitges to purchase a new one. When we arrived, we found this store, along with almost every store in town, to be closed. This is because from around 1:00 to 4:00 pm every day, stores in Sitges–and most of Spain–shut down for their daily siesta time. Americans could not imagine shutting down their stores for three hours during the business day when they could be gaining revenue. This serves as another example illustrating that the Spanish are not trying to expand and squeeze every possible profit from their business. They are in business because they want to and do it only to make ends meet.
The other observation I had about business in Spain in comparison to the U.S was regarding the major areas of opportunity in the country. I made this observation while on a company visit to BCN Activa. BCN Activa was a government-sponsored accelerator and business assistor for local Barcelona companies. While we were touring their facilities, I noticed that many of the companies they were helping were in the tech sector. This made sense because after touring Spain for two weeks, I had not seen a financial or energy district, and I had wondered what major sectors support their economy. This large tech sector also makes sense because Spain seemed to be about ten years behind America in terms of technology. Whether it was the T.V?s in the apartment, the price increase at electronic stores, or even the fact that people still physically hail cabs (instead of using an app), many of the conveniences we take for granted in America, Spain lacks due to technology. This led me to conclude that this tech area is where opportunities for exponential growth lie in Spain and that the U.S has a more diverse economy than Spain.
Overall, the Spanish have a very different approach to business than Americans. They value work-life balance, work for enjoyment, and lack a true financial district that so many American cities are built around. The tech sector is also booming in this country and who knows, maybe I?ll come back in a couple of years and see if I can profit from it too!