Analyzing India's Business Potential Essay

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Total Length: 1823 words ( 6 double-spaced pages)

Total Sources: 6

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1. Part I:

Study objectives

Although the objective for this study is singular, it encompasses multiple dimensions. Comprehensively, it seeks to examine the role of business management within contemporary India. Therefore, the notion of management is couched within the modern business climate in India. India has always had a bevy of unique characteristics that substantially affect its workplace environment. This study seeks to stratify many of those characteristics and analyze them within the greater context of business management within this country.

More specifically, then, this study will identify the most salient factors of the business environment in India. These include factors such as those pertaining to politics, economics, ethics, legality, culture, and society. By assessing each of these factors as they relate to the country, the author of this study hopes to attain an overview of the various resources which business managers will have while engaged in this country. Simultaneously, this resource should also indicate any points of concern or deficiencies which are endemic to management activities in this part of the world. Once this information is elucidated to the reader, the author will posit a management strategy or approach which is conducive to the aforementioned variables. That approach will serve as a blueprint of sorts for beneficially managing employees in India while taking account of the most eminent factors of this country while doing so.

Finally, this study aims to posit this information within the general framework of contemporary management practices in general. Specifically, it will review the findings in accordance with some of the most prominent trends existent in management today, in hopes of delivering an understanding of the overarching value derived from the insight gained from studying India’s management characteristics. The composite of all of these varying elements of the study’s primary objective will demonstrate what sort of managerial tactics will be of most use in India. Although those tactics are applicable to India specifically, the scholarship encompassed in this study is as universal as the variables analyzed about India’s business managerial environment. In that respect, there is something to be gained from everyone reading this study interested in effectively managing a specific environment—and how to approach doing so.

2. Part II:

The business environment 

There are a number of aspects of the political and economic environment in India which affects its overall business climate. Politically—as well as legally—the Indian government heavily regulates its industries. Although regulations are easing up, they are still a considerable part of doing business in this country. The political climate is certainly affecting the economics of the country.

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The tax system in the country is enduring rapid changes, and Prime Minister Modi has also banned nearly 90 percent of the country’s currency (Iyengar, 2017). Moreover, the country has experienced substantial unemployment this year. Midway through this year, India’s GDP had fallen to 5.7 percent (Kumar and Wu, 2017), which is virtually the lowest it has been since Modi came to office in 2014. Thus, there is a fair amount of economic instability in India which many attribute to Modi’s political regime. In particular, his two reforms to the tax system and to the currency in the country have attracted many naysayers who believe these actions have contributed to this nation’s low GDP.

When one also considers the issue of unemployment, it becomes clear that despite initial predictions of Modi’s ability to lead the country to economic progress, there is still a considerable amount of work to do to achieve this objective. India currently has a population of approximately 1.3 billion people. In terms of social and cultural factors, the vast majority of the population consists of East Indians. The central point of codification for cultural concerns revolves about religion, with nearly 80 percent of the population consisting of Hindus, accompanied by a smattering of Sikhs, Christians, and Muslims (World Population, 2017). Despite the fact that there are major cities (including the financial capital, Mumbai, and the nation’s capitol, Deli), nearly two thirds of the population still live in rural environments.

3. Part III: 

a. Major advantages for doing business in India

One of the major advantages of doing business in India is the country is fully developed. When attempting to do business in so-called third world countries or developing countries one needs to account for the lack of infrastructure in place. There are no such concerns in India, which is a huge boon. Furthermore, one of the chief benefits of doing business in this nation is the political support for economics. The current regime is dedicated to improving India’s economic situation. Additionally, the population is much more homogeneous than in traditional Occidental nations. This yields advantages in the work population, particularly when one considers the country is ranked fourth in the world for protecting investors, and 29th for getting credit (The World Bank, 2017). Most people in India are considered members of historic minority groups. Additionally, getting credit is a crucial way for advancing the capital to start….....

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https://www.aceyourpaper.com/essays/analyzing-india-business-potential-2166588
   

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