ESPECIAL BUSINESS EDITION
Picture by Tony Suarez and Jaime Cisneros
BOLIVIA: a Country shaped by its Economy
By Alejandro Escobar Business Major Student, Towson University
Bolivia is a country where different cultures are merged together. Its business style is dictated by its economy, employments and the people. Bolivia is one the poorest countries in the world where more than 50 % of the population lives in poverty conditions despite having large reserves of natural resources such as gas and lithium. There are high levels of inequality among the population where only a small portion of Bolivians have enough income to support themselves and their family( World Bank).
This situation has affected the leadership and management style, as well as entrepreneurship trends. Culture is highly important for Bolivians and their hierarchical society. Bolivians are very traditional and have a strong cultural background, but the economy is the one that shapes their modern culture and business trends. Furthermore, the lack of economic and educational resources has limited the development of the population where most depend on informal businesses to subsist.
21 | L A T I T U D E 0 4 / 0 1 / 2013