View attached explanation and answer. Let me know if you have any questions.المملكة العربية السعوديةوزارة التعليمالجامعة السعودية اإللكترونيةKingdom of Saudi ArabiaMinistry of EducationSaudi Electronic UniversityCollege of Administrative and Financial SciencesAssignment 2Introduction to International Business (MGT 321)Due Date: 12/11/2022 @ 23:59Course Name: Introduction to InternationalBusinessCourse Code: MGT-321Student’s Name:Semester: FirstCRN: 14033Student’s ID Number:Academic Year:2022-23-1stFor Instructor’s Use onlyInstructor’s Name: Dr. Swapnali BaruahStudents’ Grade:Marks Obtained/Out of 15Level of Marks: High/Middle/LowGeneral Instructions – PLEASE READ THEM CAREFULLY••••••••The Assignment must be submitted on Blackboard (WORD format only) via allocatedfolder.Assignments submitted through email will not be accepted.Students are advised to make their work clear and well presented, marks may be reducedfor poor presentation. This includes filling your information on the cover page.Students must mention question number clearly in their answer.Late submission will NOT be accepted.Avoid plagiarism, the work should be in your own words, copying from students or otherresources without proper referencing will result in ZERO marks. No exceptions.All answered must be typed using Times New Roman (size 12, double-spaced) font. Nopictures containing text will be accepted and will be considered plagiarism).Submissions without this cover page will NOT be accepted.Learning Outcomes:• Discuss the reasons and methods of governments’ intervention in trade (CLO: 1.2)• Analyze the effects of culture, politics and economic systems in the context ofinternational business (CLO: 2.1)• Carry out effective self-evaluation through discussing economic systems in theinternational business context (CLO: 3.6)Report WritingSelect any publicly listed Saudi Company that operates in Europe and/or Africa, and writea (minimum of 2000 word) report covering the following points:1. Present the study report with clear Introduction and Conclusion including your ownviews.(minimum words: 500, marks: 3)2. Using SWOT analysis, analyze the external and internal environment of yourselected company.(minimum words: 900, marks: 7)Strengths: Explain the strengths of the selected company;Weaknesses: Describe the areas of weakness in the company’s operations;Opportunities: Examine factors that may improve the company’s chances ofsuccess;Threats: Discuss the external threats to the business company’s success.3. Analyze the political, economic, cultural and legal challenges the companycurrently faces in any of the country it operates (select one country in which thecompany operates for this analysis).(minimum words: 600, marks: 5)AnswersIntroductionSaudi Aramco is one of the largest oil companies in the world, and it is based in SaudiArabia. The company was formed in 1933 as a joint venture between American oilcompanies and the Saudi government. The company’s initial purpose was to produce crudeoil for domestic use. However, over time it became more focused on producing crude oil forexport. Aramco has also expanded its operations into other areas including petrochemicals,refining and distribution of fuels and lubricants, marketing of refined products such asgasoline and diesel fuel through its subsidiaries such as Mobil Oil Corporation in the UnitedStates. Saudi Aramco has been ranked as one of the most profitable companies in the worldfor many years due to its large reserves of crude oil and natural gas as well as its strongbalance sheet. The company’s headquarters are located in Dhahran, Saudi Arabia but it alsohas offices throughout Europe and Asia. The company has an international presence withoffices in Bahrain, Indonesia, Jordan, Qatar and the United States. It also has subsidiaries inAlgeria, Argentina and Australia. In addition to its international presence, Saudi Aramco hasa large domestic presence as well: its headquarters are located in Dhahran near Dammam ineastern Saudi Arabia. It also has facilities throughout the country including refineries atAbqaiq (onshore), Ras Tanura (offshore) and Yanbu (onshore). Saudi Aramco producesabout 10% of the world’s crude oil output and 14% of its natural gas production(Ramady,2018). The company also has significant reserves of natural gas, petroleum, andsulfur. Considering the market position of the chosen company, the purpose of this report isto provide a SWOT analysis of Saudi Aramco and also illustrate the various challenges theymight experiencing when operating in a foreign country located in Europe.SWOT AnalysisThe purpose of this analysis is to help Saudi Aramco identify its strengths,weaknesses, opportunities, and threats so that they can make informed decisions about howbest to address them. This will allow them to grow their business more effectively whilealso protecting themselves against potential risks. For example, Saudi Aramco may have anopportunity to expand into new markets but this could come at a cost if they don’t haveenough resources to do so effectively. This means that they need to consider whether theycan afford to take on this risk before deciding whether or not it’s worth pursuing thisopportunity further. All of these will be illustrated in this section of the paper(Ramady,2018).StrengthsSaudi Aramco is one of the world’s largest oil companies. As a national oil company,it functions as an instrument of Saudi Arabia’s economic and social policies. Saudi Aramcohas many strengths, including its ability to produce over 10 million barrels of oil per day,which makes it the largest oil producer in the world. In addition, it is also one of the largestnatural gas producers in the world with over 1 trillion cubic feet per day. Saudi Aramco’sstrengths also include its ability to explore for new sources of oil and natural gas as well asits ability to extract these resources from beneath the earth’s surface using varioustechniques such as drilling or mining techniques. The company has a strong internationalpresence, with operations in over 25 countries and $75 billion in annual revenues. It also hasa strong domestic presence, operating in all 13 of Saudi Arabia’s regions. The company’sexpertise includes exploration and production, refining, distribution and marketing,petrochemicals manufacturing, transportation and logistics (Abduh et al.,2016).WeaknessFirst, the cost of producing oil is high and will continue to rise in the future. Thismeans that prices will have to increase if Saudi Aramco wants to remain competitive.However, this may not be possible because other countries like Venezuela are alsoproducing oil at low cost and exporting it worldwide. Second, Saudi Arabia is dependent onoil production for its economy. If there is an interruption in supply, then this could disruptcommerce in Saudi Arabia as well as other countries around the world where Saudi Aramcoexports their products. Third, Saudi Arabia’s economy relies heavily on oil revenues becausethey do not have many other sources of income like other countries do such as tourism oragriculture. If there is a decrease in oil production due to climate change or some otherreason then this could negatively affect their economy which could lead them intobankruptcy or even civil war within their borders if they don’…
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