Business Finance
MGT 321 SEU Culture Politics and Economic Systems Questions

MGT 321

Saudi electronic university


Question Description

I’m trying to study for my Management course and I need some help to understand this question.

  • Under Chávez’s leadership, what kind of economic system was put in place in Venezuela? How would you characterize the political system?
  • How do you think that Chávez’s unilateral changes to contracts with foreign oil companies will affect future investment by foreigners in Venezuela?
  • How will the high level of public corruption in Venezuela affect future growth rates?
  • 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?
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?

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Final Answer


College of Administrative and Financial Sciences

Assignment 2
Deadline: 28-03-2020 @ 23:59
Course Name: Intro to International

Student’s Name:

Course Code: MGT-321

Student’s ID Number:

Semester: II

Academic Year: 1440/1441 H

For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out of

Level of Marks: High/Middle/Low

• 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
• 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:

Critical Thinking


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?
In 1999 Chávez became the president of Venezuela; under his leadership, Venezuela’s
economic system changed to a command economy. The command economic system was
characterized by Chávez’s government planning, allocating resources and determining what
goods and services where to be produced. Moreover, the government determined what
quantities where to be produced. Upon getting in office Chávez consolidated all apparatus of
government by having the constituent assembly being dominated by his followers and drafted
a constitution that increased the presidential powers. Also, Chávez gained government
control through the media. The mode of rule by Chávez made the...

Nelnomap (12314)
University of Virginia

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