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Katie Baldwin

on 18 April 2013

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Transcript of Venezuela

Venezuela Power Distance Collectivist/Individualist Uncertainty Avoidance Long/Short Term Orientation Masculinity/Femininity What Does it Mean for MNCs? Current Situation High- 81 Collectivist- 12 Although there is no official data on the Long term orientation of Venezuela...

Higher focus on long-term goals rather than short-term
Expect negations and business decisions to be lengthy process US Venezuela Unequal rights
Clear hierarchy differences in organizations
"The boss is the boss"
Greater centralization
Approach is made with respect for those in power (Usted)
Relationship viewed as more important than business documents Fun Facts Official name: Bolivarian Republic of Venezuela
Language- Spanish
Currency- Boliviar
Average Metropolitan population- 4 million
Total Population- 29 million
Government- Federal Republican
5 branches
Capital- Caracas
GDP- $306 billion
Religion- prominently Roman Catholic
Dominant resource- Petroleum
Agriculturally dependent
Main crops- Coffee & Cocoa Low-40 Equal rights
Hierarchy established for convenience
Close relationship to boss
Communication is informal, direct and participative
Information is shared constantly View time in a flexible manner and may arrive late- “It is better to arrive late than never”
Expressive with their hands
Expressive gestures and interactive
Tend to add humor and charisma during business yet maintain formality
Avoid criticism and negativity
There is a dress code for men and women
Men should not take off their suit jacket unless the most senior Venezuelan does
Women should never remove their suit jacket during meetings or negotiations.
Avoid backing up if you feel someone is standing too close
Maintain eye contact Understanding Venezuelans Long-lasting personal relationships are very important so take the time to develop a strong bond with business partners and associates
Sending a note or letter after a meeting is necessary
Understand that meetings may start late but deadlines are generally respected
Densely populated metropolitan areas means investment in urban markets is key
Research the market and regulations before investing
Communication should generally be done in spanish unless you are approached in English "At the end of the day Government controls everything, whether if it's a private business or not" - Maria Chavez
Silent male dominant society
Competition and success driven "Being the best" is the motivation
Competition is not within their own people but rather to outsiders (connects with Collectivist society)
Highly success oriented
Status and rewards link to performance
Sacrifice leisure for work "If a women and a man were both applying for a job, the man will most likely get it"
- Luciana Background Facts about Venezuela The wolds highest waterfall is located in Venezuela. Its called Angel Falls
An elected president holds its presidency for 6 years
The Simpsons is banned in Venezuela as it is inappropriate for children
During Christmas people roller blade to Church
Venezuela is more than twice the size of California Venezuela US Venezuela US Venezuela US Venezuela US Short Term-29 Long Term- N/A Low- 46 High- 76 Individualist-91 Masculine- 73 Masculine- 62 President Hugo Chavez death- Uncertainty
Opportunity for change
"The President typically holds a considerable amount of concentrated power and this has been true for decades and even centuries. The main leader, even when democratically elected, tends to stay in power for a long period, exceeding a single mandate, and will try to avoid relinquishing power."- CNN QUESTIONS ???? Marifer Romo
Katie Baldwin
Danny McDugall Group oriented
Demonstrate high loyalty
Relationships are very important
Communication is usually elaborated and clear
"We" not "I"
Who you know may be more important than what you know High tolerance towards Innovation
Lower fear of ambiguity
Willingness to try different things
New ideas and business practices are accepted
Ideas of change are accepted from all levels of organization Less acceptance of new ideas (more closed minded & conservative)
Seek to avoid ambiguity
Believe in authority
Leader's opinion is rarely questioned
Decision to alter business strategy is in boss's hands
Result is often an unaltered organizational blueprint Behavior in work is based on the value that one should "Strive to be the best that they can be"
Winner takes all approach
Success and achievement are valued
Quality of life is not the sign of success
Basis of employment revolves around achievement HOLA....
Meet our ELS friends!! Maria del Pilar Chavez Luciana Affinito Carlos Taraschi Relatively Similar Big Gap difference Big Gap Difference BIG Gap difference Big Gap Difference Loosely knit society
Personal and family matters above all
Accustom to engaging in business and interacting with strangers
Employees expected to be self-reliant and take initiative
Performance and merit, not relationships, will dictate promotion Business Performance based on short-short term
"profit/loss" statements issued on a quarterly basis"
Individuals strive for fast success in workplace Works Consulted http://www.communicaid.com/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20Venezuela.pdf
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