This document provides information about doing business in Venezuela. It begins with general facts about Venezuela, including its capital, language, population, currency, government, and president. It then offers cultural insights for foreigners such as maintaining personal relationships, showing respect to higher statuses, and communicating in a direct yet non-confrontational manner. The document concludes with tips for meetings, negotiations, decision making, and maintaining agreements in Venezuela.

1. HULT International Business School Negotiating International Business Venezuela Managerial Communication Prepared by Venezuela Team: Jeremiah Methuselah, Lynn Yang,Magdalena Soszynska, Siddharth Naik Presented on 12th January 2009

3. country on the northern coast of South America – mainland & islands on Caribbean see

4. borders to: Guyana (east), Brazil (south) and Colombia (west)

5. a former Spanish colony, which has been an independent republic since 1821

6. known widely for its petroleum industry, the environmental diversity of its territory, and its natural features

7. among the most urbanized countries in Latin America* Source: www.wikipedia.org

9. Expectations towards foreigners to do things “their way”

11. Take time and establish strong bonds with your counterparts

12. Establishing personal relationships can create powerful networking

13. Respect depends strongly on status, rank and education

15. Maintain close proximity, and eye contact– it helps in building trust

16. Speak English in a simple way

17. Avoid dominating the conversation, but be confident

18. It is useful to engage an interpreter Communication

20. Delay of 5-10 minutes are ok

21. Greetings: Senor / Senora / Senorita followed with family name

22. Introductions with handshaking

23. Treat the received business cards with respect

24. Keep your talk light and friendly, with a sense of humor

26. Avoid open confrontation, remain friendly, patient but persistent

27. Multiple actions and goals are talking place - donot show irritation or anger

28. Blocking or changing the subject may be frequently

29. keep track on bargaining process

30. oftenemphasizeareas, where agreementexist

32. Don’t expect fast decisions

33. Venezuelans are often reluctant to changes and risk

35. Interim agreements may be changed significantly

36. It is advisable to stay in touch with business partners

37. Venezuelans believe in partners commitment more than in papers

39. As a women be confident but do not appearoverly aggressive