case study 1.2 cuba

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Business Finance

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Part 1 Cases: Case 1.2

There are three homework assignments in this class which consist or a review of a case drawn out of the textbook. Use the case as a basis for doing additional research on the topic. Use the case questions as a jumping-off point for your discussion. Do not simply answer the questions, but elaborate on the point that the questions ask to be addressed. Weave your answers into an essay responding to the topics in the case. Use the essay rubric in the Grading Rubrics folder as your guideline while you develop your case essay. Use APA style and formatting to compose the 600-800-word case essay. Please seek to add 3-4 additional business-related journal articles or trade-based resources for support. The word count excludes any charts and graphs and your reference list.

Essays and (Research) Papers Grading Rubric

Essay & (Research) Paper Grading Rubric

Dimension

Criteria

Weight

Score

1.Conceptual Understanding & Critical Thinking

The essay/paper directly addresses the assigned topic and provides a thoughtful answer to each question demonstrating critical thinking and a sound understanding of the issues.

30%

30

2.Integration of Scripture and additional Text/ Resources

Writing is supported with Scripture as well as with course text and unassigned materials (at least 1 external resource in essays, 2 in papers and 3 in research papers).

15%

15

3. Application/ Personal Experience

The essay/paper provides integration and application of course theories and principles and relates to personal experience when appropriate.

15%

15

3. Innovation/ originality

The essay/paper demonstrates original innovative ideas and insights.

10%

10

4. Organization

The essay/paper is well-organized, including cover and reference pages, an introduction, summary, smooth transitions between topics, and logically developed paragraphs.

10%

10

5. Grammar/ Writing Style

The essay/paper employs correct English grammar, punctuation, and spelling, and appropriate word choices. In-text and after-text references are documented appropriately using APA style.

10%

10

6. Length

The essay/paper is the appropriate length, within the specified range.

10%

10

Late Points:

-10

0

TOTAL:

100

Comments:

below are files of the case study. I had to take pictures with my phone so please forgive the angles. there are two more files to upload and hopefully i can do that once you are selected.

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130 Integrative Case 1.2 The Future of Cuba! Mike W. Peng (University of Texas at Dallas) As Cuba gradually opens up its economy to market competi tion, private sector, and foreign investment, what does its wture hold? uba is the only practitioner of communism in the estern Hemisphere. Five decades of communism e delivered some accomplishments. Life expectancy 79 vears) is on par with that of the United States, Cuba has more doctors per 100,000 persons than in and France. Social benefits cover everyone cradle to grave, providing free world-class health nd education in addition to free pensions and Is. However, people are poor and income is low. erage monthly wage is only $19. Food is often age, forcing the government to ration supply. 1 million people enjoy only 600,000 cars, with e age of 15 years. Half of them belong to the ny 1950s vintage cars are still workhorses in opened Cuba for foreign direct investment (FDI) and the use of the US dollar. He also found a new bene mass tourism, and legalized small family businesses factor, Venezucla president Hugo Chávez, who exchange, Fidel sent 20,000 doctors and profession to his death in 2013) provided Cuba with cheap oil. In als to work in Venezuela. Thus, the regime's widel predicted demise did not materialize. After survivin the emergency, Fidel went back to the old ways. Man and the US dollar ceased to be legal tender in 2004. family businesses and foreign ventures were shut down This time, Raúl has proclaimed that chang are here to stay. While Fidel has a massive ego and famously ideological, Raúl is more modest and me is terri astro, the younger brother of the 88-year- Fidel Castro, took over as Cuba's president as first secretary of the Communist Party r compositional simplicity, this case will Castro brother by his first name.) Raúl transferring a substantial chunk of the terprises (SOEs) to private hands, free- isoners, and signing the UN Convention hts, something that Fidel had refused ange seems to be in the air, there are Raúl is also a Castro. Neither "reform" is allowed to be mentioned. These ly bring back the painful memory the Soviet Union, which overnight and traumatized Cuba's leaders. es are labeled “updating," in which d "cooperatives” will be tolerated. omist, "whatever the language pragmatic . Raúl seems to realize that Cuban com nism lives on borrowed time. The economy unproductive. Cuba has a legendary agricultural pas think of its world-famous cigars and sugar. Howe state ownership of farms has been disastrous, Out per head of sugar in 2012 has dropped to an eight its level in 1958. State farms control 75% of arable la but 45% of this lies idle. Raúl has allowed private fa ers and co-ops to lease idle state land. Yet, private fa ers have a hard time scraping a living off land. Th not because the land is not fertile; it is. It is bec of the grip of Acopio, the state-owned monopoly plier of seeds, fertilizer, and equipment as well as monopoly purchaser of farm produce. There is ha a market to motivate farmers to try harder, In manufacturing and services, SOEs are also rious for shoddy quality and low pay, But there is advantage in working for SOEs: plenty of opportur to pilfer (steal) supplies from the workplace, Emplo thi state, which justification goes like this TV As Cuba gradually opens up its economy to market competi- tion, private sector, and foreign investment, what does its future hold? desperati opened mass tot and the factor, to his de exchan als to predict the em family and th Th are hd famou prag nism Cuba is the only practitioner of cornmunism in the Western Hemisphere. Five decades of communism have delivered some accomplishments. Life expectancy (at 79 years) is on par with that of the United States, and Cuba has more doctors per 100,000 persons than Britain and France. Social benefits cover everyone from cradle to grave, providing free world-class health care and education in addition to free pensions and funerals. However, people are poor and income is low. The average monthly wage is only $19. Food is often in shortage, forcing the government to ration supply. Cuba's 11 million people enjoy only 600,000 cars, with an average age of 15 years. Half of them belong to the state. Many 1950s vintage cars are still workhorses in the streets. Raúl Castro, the younger brother of the 88-year- old leader Fidel Castro, took over as Cuba's president in 2008 and as first secretary of the Communist Party in 2011. (For compositional simplicity, this case will refer to each Castro brother by his first name.) Raúl has been busy, transferring a substantial chunk of the state-owned enterprises (SOEs) to private hands, free- ing political prisoners, and signing the UN Convention on Human Rights, something that Fidel had refused to do. While change seems to be in the air, there are limits-after all, Raúl is also a Castro. Neither "reform" nor "transition” is allowed to be mentioned. These unpr thin state per its le but ers: ers not of pli mc an state-owned enterprises (SOEs) to private ing political prisoners, and signing the UN Convention plier mon a ma I riou ady to on Human Rights, something that Fidel had refused to do. While change seems to be in the air, there are limits-after all, Raúl is also a Castro. Neither “reform" nor "transition" is allowed to be mentioned. These words immediately bring back the painful memory of the collapse of the Soviet Union, which overnight withdrew subsidies and traumatized Cuba's leaders. Instead, the changes are labeled “updating," in which "nonstate actors” and “cooperatives” will be tolerated. " noted the Economist, “whatever the language, this means an emerging private sector.' Thanks to the Soviet collapse, the Cuban economy shrank by a painful 35% between 1989 and 1993. In jus sta “But, ou th n E 1 1) This research was supported by the Jindal Chair at the Jindal School of Management, University of Texas at Dallas. All views and errors are those of the author. © Mike W. Peng. Reprinted with permission. : at e Future of Cul accoun $23 per mon vised craft shop ng (University of Texas at Dallas) Slowly but sure While (until reces in Cuba, multina and Spain have mpeti ons in 2013. 2.7 million While the US em a new bene Miami, eight fli regularly sched the In 2014, the F desperation, Fidel declared a national opened Cuba for foreign direct investment (FDI) and the use of the US dollar. He also found factor, Venezuela president Hugo Chávez, who prie to his death in 2013) provided Cuba with cheap online exchange, Fidel sent 20,000 doctors and profession als to work in Venezuela. Thus, the regime's widely predicted demise did not materialize. After surviving the emergency, Fidel went back to the old ways. Man and the US dollar ceased to be legal tender in 2004. family businesses and foreign ventures were shut down This time, Raúl has proclaimed that changes are here to stay. While Fidel has a massive ego and is famously ideological, Raúl is more modest and more pragmatic. Raúl seems to realize that Cuban commu- ment Law, wh ing abroad CT ian One Ith nd the foreign rorist mafia can commu from profi of paying Havana R on T. n Altho inescapa referrin the day clearly nism lives on borrowed time. The economy is terribly unproductive. Cuba has a legendary agricultural past- think of its world-famous cigars and sugar. However, state ownership of farms has been disastrous. Output per head of sugar in 2012 has dropped to an eighth of its level in 1958. State farms control 75% of arable land, but 45% of this lies idle. Raúl has allowed private farm- ers and co-ops to lease idle state land. Yet, private farm- ers have a hard time scraping a living off land. This is not because the land is not fertile; it is. It is because of the grip of Acopio, the state-owned monopoly sup plier of seeds, fertilizer, and monopoly purchaser of farm produce. There is hardly a market to crs and a crs have a hard time aúl the as the on d of the grip of Acopio, the state-owned monopoly not because the land is not fertile; it is. It is because plier of seeds, fertilizer, and equipment as well a market to motivate farmers to try harder. monopoly purchaser of farm produce. There is hardly In manufacturing and services, SOEs are also advantage in working for SOEs: plenty rious for shoddy quality and low pay. But there is one opportunities to pilfer (steal) supplies from the workplace. Employees justification goes like this: The SOE belongs to the e not of state, which belongs to the people—that is, us. Since our wages are so low, we should feel free to take home the stuff that, after all, belongs to us anyway (!). Experi- menting on a limited scale, Raúl has allowed private entrepreneurs to own and operate small shops, such as barber shops, beauty parlors, and restaurants, as well as private taxis. Although by global standards these
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Explanation & Answer

There you go.

Running head: THE FUTURE OF CUBA

1

The Future of Cuba

Student’s Name
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Course
Professor

Date

THE FUTURE OF CUBA

2
The Future of Cuba

The future of Cuba has always been a shaky one due to what Cuba has gone through both
politically as well as economically. Interestingly, Cuba is considered to always be an attraction to
the Americans. This was specifically when Fidel Castro was in power. The Americans came in
and changed the situation in Cuba. This change did affect certain issues in Cuba such as the
ownership of farms by the State as well as the behavior of the employees working in the state
owned enterprises (SOEs). There was also the contention between Communism and Capitalism
in the country as well as how Cuba dealt with foreign firms.
Interestingly, most of the land in Cuba was initially owned by the State. This was mainly
supported ...


Anonymous
Just what I needed…Fantastic!

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