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5. Planning a Successful Business Lunch

How many times have we heard about successful sales meetings taking place in the relaxed atmosphere of a business lunch? Whether meeting with clients to close a sale, with associates to discuss plans, or with employees to meet informally outside the normal workplace, meeting at a restaurant can help make a business gathering highly productive. In today's Workshop, Jeffrey Moses provides some tips to make a business lunch as efficient and enjoyable as possible.

When inviting clients or customers to lunch, always let them select the restaurant and time of meeting. If they have no preference, try to select a restaurant with which you're familiar. Avoid loud, overly busy restaurants or sports taverns because the atmosphere will distract from discussing business.

When plans are made more than several days in advance, always call the customer the day before the meeting in order to confirm location and time. This can help avoid embarrassing oversights or miscommunications in scheduling.

When inviting a client or associate to a business lunch, inform the person that you will be paying the bill. He or she may politely insist on paying, but when you are setting up the date, the responsibility is yours –– both for the bill and the tip. This responsibility also extends to parking and other charges.

When you arrive at the restaurant, ask for seating away from the entrance, buffet areas, or kitchen doors. This will help maintain a settled, focused atmosphere.

Avoid diving right into business conversation. Polite, personal conversation will set a more relaxed and, ultimately, more productive tone. In some circumstances, business should not be discussed until the meal is well underway. In other instances, business subjects can be addressed within 5-10 minutes of being seated. If you know your guest extremely well, these time schedules might not apply, and you could begin business talk immediately upon being seated.

Never smoke or order alcoholic beverages unless your guests are doing so. If there is ever a question about the appropriateness of smoking, you'll never go wrong by not doing so.

While eating, avoid taking mouthfuls so large that you might have difficulty answering a question suddenly asked of you. Eat slowly, following rules of etiquette. Keep your attention primarily on the conversation, secondly on the food.

Always be aware of your guests' time. Don't order additional courses or dessert if they're in a rush. Doing so may cause strain, and could bring an otherwise enjoyable experience to a less-than-satisfactory conclusion.

Source: https://prod.ion.nfib.com/object/1584009.html

6. Ten Economic Freedoms of Ukraine

The Index of Economic Freedom is built upon analysis of 10 specific components of economic freedom, some of which are themselves composites of additional quantifiable measures. The 10 component scores are equally weighted and averaged to get an overall economic freedom score for each country.

Ukraine's economic freedom score is 48.8, making its economy the 152nd freest in the 2009 Index. Its score is 2.2 points lower than last year, reflecting deteriorating economic freedom in seven areas. Ukraine is ranked 42nd out of 43 countries in the Europe region, and its overall score is lower than the world average.

As an important exporter of minerals and grain, Ukraine has managed impressive levels of economic growth averaging about 7 percent over the past five years. Sustaining those levels in a time of global economic slowdown will require significant structural reform. In one such positive step, Ukraine became a member of the World Trade Organization in May 2008, completing a 14-year accession process.

In comparison to other countries that have been moving toward a more market-oriented economy, Ukraine lags behind in price liberalization and the efficiency of its business environment. The regulatory framework remains burdensome. While foreign investment is officially welcome, corruption and bureaucracy deter many investors. The judiciary does not always enforce contracts fairly and is tarnished with corruption, which also plagues the civil service. Bureaucratic inefficiency makes many commercial operations difficult.

Background

Ukraine gained its independence after the collapse of the Soviet Union in 1991. The largest country located wholly in Europe, Ukraine has rich agricultural lands and significant natural resources and is an important transit route for gas pipelines between Russia and Western Europe. Environmental problems associated with the 1986 Chernobyl disaster remain unresolved. Promises of economic reform, better governance, and efforts to fight corruption after Ukraine’s 2004 “Orange Revolution” have not been fulfilled. Since December 2007, Prime Minister Yulia Tymoshenko and President Victor Yushchenko have been engaged in political infighting in preparation for the 2009 presidential race, once again neglecting reforms. At its 2008 Bucharest summit, NATO refused to grant Ukraine a Membership Action Plan because of Russian, German, and French reservations.

Business Freedom – 40.5

The overall freedom to start, operate, and close a business is limited by Ukraine's regulatory environment. Starting a business takes 27 days, compared to the world average of 38 days. Obtaining a business license takes more than the world average of 18 procedures and 225 days, and costs are high. Bankruptcy proceedings are time-consuming and costly.

Trade Freedom – 84.0

Ukraine's weighted average tariff rate was 3 percent in 2006. While Ukraine is making progress in liberalizing its trade regime, some export restrictions, services market access barriers, import taxes and fees, some import licensing requirements, restrictive sanitary and phytosanitary regulations, complex standards and certification regulations, non-transparent government procurement, and weak enforcement of intellectual property rights add to the cost of trade. Ten points were deducted from Ukraine's trade freedom score to account for non-tariff barriers.

Fiscal Freedom – 77.0

Ukraine has low tax rates. The top income tax rate is 15 percent, and the standard corporate tax rate is 25 percent. Insurance companies are subject to a specialized rate. Other taxes include a value-added tax (VAT), a land tax, and an inheritance tax. In the most recent year, overall tax revenue as a percentage of GDP was 38.1 percent.

Government Size – 39.0

Total government expenditures, including consumption and transfer payments, are very high. In the most recent year, government spending equaled 45.1 percent of GDP. Despite widespread privatization, the economy remains shackled by government intervention in the private sector. Privatization of the telecommunications sector continues to be delayed.

Monetary Freedom – 68.1

Inflation is high, averaging 12 percent between 2005 and 2007. The executive branch can establish high minimum prices for goods and services, and the government influences prices through regulation and stateowned enterprises and utilities. Ten points were deducted from Ukraine's monetary freedom score to account for policies that distort domestic prices.

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