Article Abstract:
A new class of business people called the 'beautis,' or 'beautiful people,' is dominating the political and economic environment in Spain. Some 90% of the new businesspeople have a 'get rich quick' attitude. Foreign investment has been an important part of the change in management. The percentage of shares of Spanish firms in foreign countries was 29.2% in 1990, compared to 19.2% in 1980. The average salary of senior managers in Spain grew by 85% between 1984 and 1990. Most of the top executives in Spain have been trained at the Instituto de Estudios Empresariales. Spanish executives are not as advanced as executives from other countries in certain areas, including their negative attitude toward women in management, and their lack of internationalization of operations.
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Article Abstract:
A new breed of business entrepreneurs are creating a new corporate culture in Spain. This elite class are part of that segment of the Spanish business community that has made efforts to respond to King Juan Carlos' call for significant changes to be made in Spanish society. Among the very few who constitute this entrepreneurial elite are food processor Campofrio's head Pedro Ballve, Banco Espanol de Credito Pres Mario Conde, Rioja wine exporter Primitivo Gurpegui, and cava sparkling wine exporter Freixenet's Director-General Jose Luis Bonet Ferrer. These group of businessmen are credited with making their organizations the models of successful Spanish business and are gradually replacing the 'old grandees' of corporate Spain.
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Article Abstract:
The Kuwait Investment Office (KIO) has increased its investment activity in Spain, committing $2.25 billion in investment funds in 1988. KIO has created a successful, hostile takeover of Ebro, Spain's biggest producer of sugar, and started a campaign to take over a major supplier of chemicals. KIO's ultimate goal is appreciation of capital. Its most important investment in Spain has been its 47.5% share of Torras Hostench, a large paper producer. KIO has also had an influence in recent bank take-over activities, and will continue to influence and change the Spanish business community, possibly extending the influence to other countries as Spain becomes a stronger force in the European Community.
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