Can Brazil Get Its Roller Coaster Economy Back On Track?

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Can Brazil Get Its Roller Coaster Economy Back On Track?

By Judith Magyar, Senior Director, Strategic Communications, Global Mobility Solutions, SAP
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Wednesday, March 19, 2014 - 1:05pm

CAMPAIGN: SAP Supports Sustainable Growth in Emerging Economies

CONTENT: Article

Brazil’s economy has been on a roller coaster. The Economist followed the country’s skyrocketing fortunes in “Brazil Takes Off” then examined its crash in “Has Brazil Blown It?” The first article details how Brazil’s economy grew 7.5 percent in 2010 as the rest of the world suffered through economic turmoil. The second chronicles its abrupt landing in reality last year, when growth was skimpier than a string bikini and Brazilians were protesting the high cost of living and poor public services. This begs the question: Can Brazil get its economy back on track?

Mind over matter

Yes, according to Fabio Barbosa, CEO of Grupo Abril, one of Latin America’s largest media conglomerates, but it will take a shift in mindset. Solving problems with jeitinho just won’t work anymore. People, especially those in leading positions, will have to be much more proactive in shaping the country Brazil seeks to become. The business of business must be sustainable business, Barbosa said, appealing to about 12,000 business leaders and influencers who recently attended SAP Forum, Latin America’s largest technology event.

An exemplar of sustainable business practices, Barbosa was the mastermind behind the integration of Banco Real and ABN AMRO when they were acquired by Santander, and was instrumental in making corporate social responsibility central to the bank’s brand. As a result, in 2006, Financial Times named Banco Real the most sustainable bank of the year, and in 2013, named Santander the most sustainable global bank of the year with Brazil as the regional winner in the Americas.

Technology and entrepreneurship are part of the solution
One way to shape the new Brazil is to foster inclusive business, as many jobs in emerging economies are created by small enterprises. Business leaders like Barbosa and Cristina Palmaka, managing director of SAP Brazil, believe in improving society through innovation. Both leaders are keen supporters of  SAP’s Emerging Entrepreneurs Initiative, a program designed to fuel entrepreneurial growth through technology education, software donations and funding from Endeavor Brazil.

Continue reading the orginal article about Brazil's sustainable growth on Forbes >>

Original source: Forbes