One of the biggest takeaways from our company visits throughout our time in Portugal was the emphasis on sustainability on businesses of all industries. From the cork farms to the textile factory, each company had distinct practices to ensure that their business is not harmful to the environment and will be able to to operate in this manner for decades to come. In stark contrast to the US whose business typically focus on the bottom line and profitability primarily, the Portuguese economy has collectively decided to concurrently aim for profitable AND sustainable practices in all of their industries. Additionally, the Portuguese business environment is much more intertwined with other countries in Europe than the US is with other countries in our region. This is partially due to the smaller size of Portugal, but the ease of delivering to other countries across Europe makes expanding a company’s reach much more attainable, especially within the EU. The geographic advantage of being on the edge of Europe and Iberian Peninsula also sets up Portugal as a great port for shipping goods across the Atlantic, to Africa, and anything in the west or south of Europe. Overall, Portugal surprised me with its diversity of industry and their commitment to protecting the Earth alongside earning a profit, and I am so grateful for the opportunity to explore such a unique country!
Center for International Business Studies Blog