This paper consists of a report that shows a developed plan for my business that will be implemented as Venezuela becomes part of MERCOSUR. For me as the business owner I must make the best decisions for my business. The best way for me to make the decisions I must firs know and do a few things. First, I would need to get a better understanding of Venezuela's economic standpoints, along with what MERCOSUR is. Second, I would need to know the benefits and drawbacks of joining the MERCOSUR as a company. Third, and final I would want to determine what the benefits and drawback would be as a company, then also decide what changes that will be needed for my business as a result of joining the MERCOSUR.
Ã¢ÂÂAccording to Microsoft Encarta Encyclopedia, Venezuela's economy is highly dependent on the petroleum and mineral resources, accounting for roughly one third of Gross Domestic Product, around 80% of exported earnings, and over half of government operating revenues.
(http://encarta.msn.com/encyclopedia) The gross domestic product, the total of all goods and services was about $145.2 billion in U.S. currency, with a growth rate of about 16.4% in 2005. Venezuela's major economic sector is the service sector, which accounts for about 53.4% of its income, which is then followed by the industrial sector that accounts for about 46.5%. There major agricultural products includes corn, sorghum, sugarcane, rice and much more. Their major industries include petroleum, minerals, and much more. Venezuela also has their current exporting partners, which are the United States, Netherlands, and the Dominican Republic. With this information I believe that the economy of Venezuela is stable but as the business owner my business could definitely put a boost in the yearly revenue for the country.
According to Microsoft Encarta Encyclopedia, MERCOSUR is...