Business Finance
MGT 321 SEU Venezuela under Hugo Chavez and Beyond Questions

MGT 321

Saudi electronic university

MGT

Question Description

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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.

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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: 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 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

Attached.

Running head: BUSINESS

1

Introduction to International Business
Student's Name
Institution Affiliation
Date

BUSINESS

2

Question 1
During Chávez's time in leadership, the economic system was socialist. Chavez crudely
implemented socialism in somewhat undemocratic ways. For example, one of the most
significant policies during his reign was that there would be a redirection of oil revenues to the
country's poor people. Oil prices were inflated, and the poor relied on the revenues drawn from
the product through social programs that were put in place by the government (Naím, 2018). The
oil prices allowed Chavez to get loans and bonds from countries like Russia, U.S., and China.
However, the overall implication of this was that the country ended up with huge debts. During
elections, these oppressed people had no option but to still vote him in despite of his actions. The
political system was autocratic. Chavez was in full control and his successor was clearly known
by everyone, and there was little that the public could do to change the status quo. The political
system was also hybrid: The economy was socially-owned, and it worked together with the
democratic political system. While many socialist economic systems entail centralized industrial
policies and economic planning, extensive infrastructure development...

mwalimumusah (21137)
Cornell University

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