Business Finance
MGT 321 SEU International Business Venuzuela under Hugo Chavez Discussion

MGT 321

Saudi electronic university

Question Description

I’m working on a Management question and need guidance to help me study.

The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.

Assignments submitted through email will not be accepted.

Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.

Students must mention question number clearly in their answer.

Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.

All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

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College of Administrative and Financial Sciences Assignment 2 Deadline: 28-03-2020 @ 23:59 Course Name: Intro to International Business Student’s Name: Course Code: MGT-321 Student’s ID Number: Semester: II CRN: 20658 Academic Year: 1440/1441 H For Instructor’s Use only Instructor’s Name: Dr. Umme Hani Students’ Grade: Marks Obtained/Out of Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. Assignment Regulation: • All students are encouraged to use their own word. • Assignment -2 should be submitted on or before the end of Week-11 in Black Board only. • This assignment is an individual assignment. • Citing of references is also necessary in APA style. Assignment Structure: A.No Assignment-2 Total Type Critical Thinking Marks 10 10 Learning Outcomes: • Analyze the effects of culture, politics and economic systems in the context of international business (Lo 1.9 & 2.1) • • Identify the major components of international business management (Lo 1.2) Carry out effective self-evaluation through discussing economic systems in the international business context (Lo. 3.6) Critical Thinking Please read Case 2: “Venezuela under Hugo Chávez and Beyond” available in your e-book (page no.611), and answer the following questions: Assignment Question(s): (Marks: 10) 1. Under Chávez’s leadership, what kind of economic system was put in place in Venezuela? How would you characterize the political system? 2. How do you think that Chávez’s unilateral changes to contracts with foreign oil companies will affect future investment by foreigners in Venezuela? 3. How will the high level of public corruption in Venezuela affect future growth rates? 4. During the Chávez years, many foreign multinationals exited Venezuela or reduced their exposure there. What do you think the impact of this has been on Venezuela? What needs to be done to reverse the trend? 5. By 2016, Venezuela’s economy appeared to be on the brink of total collapse. What do you think needs to be done to reverse this? Answer: 1. 2. 3. 4. 5. &&&& ...
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Final Answer

Here you go. I hope this work is fine with you. I am thankful to have worked with you. I hope that you invite me again for other assignments. Also, dont forget to edit your name on the cover page. Note: The plagiarism scan shows 14% plagiarized because the paper contained the case questions. I tried scanning the document without the questions, the plag scan showed only 4%. So, this should be okay.

Venezuela under Hugo Chávez and Beyond
Name:
MGT-321: Intro to International Business
Professor: Dr. Umme Hani

Q1. Under Chávez’s leadership, what kind of economic system was put in place in
Venezuela? How would you characterize the political system?
When President Chávez became president after winning the 1998 elections, he claimed to
have inherited the worst economic situation in the nation’s recent history. There was a deep
recession when he resumed office. To counter the seemingly dwindling economy, President
Chavez started to take increasing control over the economy. The parliament that was mainly
comprised of his political alliance granted the executive department to legislate by decree for 18
months. This gave Chavez full control over the economy and used socialism as a framework for
making economic decisions. Socialism is an economic policy where a government reserves the
full rights and privileges of central planning the economy. Governments under socialism own the
majority of the means of production with the intention of striking a balance that promotes
equality and solidarity among the members of society. His manipulation of the laws restricted
Venezuelan freedoms and civil rights and his actions resulted to the debasement of democratic
institutions (Corridan, 2009). The political arena in Venezuela during Chavez’s term was a
dictatorship. In a dictatorship, the rule emanates from a single person. Authoritarianism is an
autocratic...

ryemabeza (1052)
New York University

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