Assignment Structure:

A.No	Type	Marks
Assignment-2	Critical Thinking	05
Total		05

Learning Outcomes:

• Analyze the effects of culture, politics and economic systems in the context of international business (Lo 2.1)
• Identify the major components of international business management (Lo 2.4)
• Carry out effective self-evaluation through discussing economic systems in the international business context (Lo. 3.1)

Critical Thinking

Please read Case 2: Venezuela under Hugo Chvez and Beyond available in your e-book (page no.611), and answer the following questions:

Assignment Question(s): (Marks: 05)

1. Under Chvezs leadership, what kind of economic system was put in place in Venezuela? How would you characterize the political system? (word limit: 100, Marks: 02)

2. During the Chvez 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? (word limit: 100, Marks: 02)

3. By 2016, Venezuelas economy appeared to be on the brink of total collapse. What do you think needs to be done to reverse this? (word limit: 150, Mark: 01))