Venezuela, officially called the Bolivarian Republic of Venezuela, is a country on the northern coast of South America. Venezuela has an estimated population of approximately 29 million. In 2009 the Venezuelan government passed a law to establish a national standardized university entrance examination system, replacing public universities' internal entrance examinations.

A master of business administration (MBA) is a professional degree given to those who study business management at a business school. Various forms of analysis and strategy are covered including operations, marketing, finance, and accounting.