Doing Business in India

It is very important to study the different elements of culture of the country. When consider China and India, being large countries, the cultural diversity is higher and varies with the geographical areas. In some cultures, the value systems and ethics will be critically affected on the business. Some businesses are almost impossible to start in some regions due to cultural factors such as religion and value systems. Particularly, in Chinese culture, collectivism plays a major role in decision making. Therefore, a thorough knowledge about the culture is necessary before going to start a business.

An Analysis of Cross Cultural Differences Between India and The United States of America in Terms of Business-Implications for Managers

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

India is one country which is developing rapidly at the moment along with China (Lal and Clement, 2005). The political, economic, social, cultural, technological and legal climate in India is extremely suitable for international entrepreneurs since business prospects in a country are heavily dependent on the above mentioned parameters. Since India is the second most heavily populated country in the world, British telecommunication company, Vodafone has enormous business opportunities in India. Mobile phone usage in India is increasing rapidly in recent times (Press Information Bureau: Government of India, 2010). A substantial portion of Indian

I decided to do my research for values and beliefs on Nepal, because it gave me an opportunity to share a positive experience for my pastor unlike the one Bush had with the shoes. When the first earthquake in Nepal happened we sent a team to Nepal to help, and while they were there they handed out white scarves. Several months later my church sent our pastor and while there the same scarves that were handed out previously to the people got returned to our pastor. As he was leaving people came by and hung the scarves around his neck, he was told that this was the highest respect the people of Nepal could show. He was also handed a wooden drinking vessel, that had survived the earthquake, it was 100+ years old and he was told that it was the highest valued

First of all, every culture has different customs implemented on its community. This is especially evident in “Matrimony with a Proper Stranger”, which details the circumstances of arranged marriage and its application in Indian life.

He continued, “Participating in a social events or visiting a home requires conservative dress codes. Do not shake hands with ladies. Always pick things up and eat with your right hand. Take only as much as you can eat, do not leave anything uneaten over the dish. Do not point your finger at any person. It is taken as a sign of annoyance. Be careful of cultural and social sensitivities of the regions. Never buy food from roadside stalls or mobile canteens. Your system may not be accustomed to such delicacies and you might end up spending more time in the loo than normal. Indian English has its own delights, especially to foreigners of English nativity” (kwintessential ).He went on and on, and by the time we reached our hotel my head was spinning.

In order to successfully introduce a product into a foreign market it is important to know the culture of the country you plan to do business in. In order to introduce mobile handsets into a market like Venezuela, the supplier must be well acclimated with the purchasing habits, tastes, and willingness to purchase the product that is being sold. Understanding these things starts with building a knowledge base about the major aspects of the culture and your target consumer. With this being said I am providing a brief overview of the country of Venezuela.

Just like any other culture the Indian culture had its own customs beliefs and practices. This beliefs and practices affect their lifestyles and interaction with the modern culture. One unique aspect of the Indian culture is their relation with guests. The Indians treat with high regards any guests that they host. They also hold close their economic status with preference for the wealthy status compared to the low and middle economic status. Religion is also highly held in the Indian culture. Indians hold the belief that god and goddesses are the drivers of one’s life.

India’s culture blends from it rich historic background and the influence of the current western culture. Hence, as Indians, we have grown up to be a very tolerant culture. We honor and respect all religions, races, and ethnic backgrounds. Our culture teaches us to have a deep respect for elders and has a tradition of joint families.

4. Language and social differences in potential markets act as barriers to business activities. Without knowledge of the foreign languages, conducting business transactions becomes harder. The culture differences make it even more complicated, since there are differences in business etiquette depending on the country.

Making business abroad can be risky, but it can also be profitable for a company as well; thus the necessity to study in deep the country where the company will bring the business to. International companies are faced with many cultural challenges, when doing business across and inside of different borders. Identifying the significant cultural issues involved when evaluating the attractiveness of a particular location as a place for doing business can be crucial for a business. Aspects to consider when studying culture in a new place

Finally, we have to wonder how the Liability of Foreigners would affect the company. Even though we do not have any direct reference on the culture and political situation, we can assume that they are a lot different to what the company is used in its own country. Therefore, and even though the recommendation is to enter India finding a partner that can help them understanding the culture, distribution channels and help them dealing with the Indian bureaucracy, the LOF variables should be taking into account to help the company minimize the failure risk of succeeding in India.

When dealing with businesses there are always going to be cultural barriers and obstacles. This is because no two countries are the same and each person is different. Cross cultural communication looks at how people from various backgrounds interact and communicate and this is what this report will cover. It will look at how people from different backgrounds pass information and make negotiations despite the barriers of culture between them. The case study ‘Journey to Sharahad’ displays the cross cultural exchange between the Americans who have just arrived in Sharahad are completely oblivious to the culture and people of Sharahad and what

IMF stands for International Machinery Fund International Monetary Fund Indian Machinery Fund Indian Monetary Fund3. SEC means.. Securities & Exchange Commission Stock Exchange Commission Script Exchange Commission Special Exchange Commission4. NSE stands for National Stock Exchange National Script Exchange Network of Stock Exchange Non Stock Exchange5. NYSE is is acronym for New York Stock Exchange New York Scripts Exchange New York Special Exchange National York Securities Exchange6. NSDL stands for Network of Securities Depository Limited Network of Stocks Directory Listing National Stock Directory Limited National Securities Depository Limited7. ADR stands for All Depositary Receipt Asian Depositary Receipt African Depositary Receipt American Depositary Receipts8. In the context of Mutual Funds, SIP stands for.. Systematic Investment Plan Scheduled Interest Plan Specific Insurance Plan Special Income Plan9. In the context of Mutual Funds, ELSS means Endowment Linked Savings Scheme Equity Linked Savings Scheme Established Line Savings Scheme Entrepreneur Line Savings Scheme10. AMFI stands for Association of Mutual Funds in India Arbitrated Mutual Funds India Arbitrated Monetary Funds India Associated Mega Finance of India