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Economics Essay

1611 words - 7 pages

Element A
While considering the option to expansion into the Asian market, specifically India, there must be numerous variables to consider to be successful. Cultural differences will play a big part into the success or failure of the business.
Element A1
Religious differences
India is a very large country in population but when looking at the religious breakdown we will see that India is primarily made up of Hindus. Hindus make up over 80% of the population in India with Muslims coming in at just over 13% and we find Christians are in the minority with under 3% (Government of Indian 2011). This is a stark difference between what we would find in the United States. This cross-cultural ...view middle of the document...

The culture in India is accustomed to face to face relationships in business. They appreciate meeting in person and shaking hands rather than an impersonal email or text. We need to ensure that all of our high level employees understand this when dealing with possible business partners or potential customers, and by perfecting this practice of creating and maintain business relationships that are based on personal communication and face to face meetings we will see a much more solid foundation for our business with in the Indian culture.
.Element A3
Indian Workforce
We understand our current workforce in the United States. We know what to expect from our employees and they know what to expect from us. However in India we will have to understand an entire new workforce. For instance the Indian culture has an engrained custom of politeness, they often will reply yes to many requests even if some of those requests might be unobtainable (Geonka, 2011).We have to understand that with our new workforce there might be some hurdles when it comes to deadlines and benchmarks. This can easily be avoided with some special attention to communication with the workforce. We need to be careful not to over discipline when not warranted. If one of our employees has his or her heart in the right place, even though they may have dropped the ball on a task, we need to look at what our expectations were in that situation. If that employee was simply being “polite” when they said they could achieve a predetermined benchmark and did not deliver, it would not help the situation by harshly dealing with that employee. That would create an environment of distrust with our employees which we do not want. Rather if we set up specific communication training with our new workforce and create an atmosphere where both parties understand the expectations, then we will be able to sustain a reliable and trustworthy workforce.
Element B1
Product
India has a very high population of people. Poverty is a big problem in India. More than 35 percent of Indians live below the international poverty line (Government of Indian, 2011). Our product of shelf stable large quantity food storage is a product that not only will have a need in this country but also one that will help in hunger and malnutrition. With many in this country not being able to afford such luxuries as refrigerators and freezers, our product will serve these communities well. Also this product will not only be attractive to only the low income brackets who need this food, but to the middle class who want to be prepared for natural disasters and other possibilities that could have an effect on their normal food supply, just as our product is sold in the United States. So with there being a need from a broad spectrum of Indian citizens I predict that our product will be utilized in our new market of India.
Price
Our current price level on our product here in the United States has served us well. We have had the...

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