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Peculiarities of Business in India - Scholarship Essay Example

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This essay examines in detail the prevalent business, socioeconomic, and cultural environments that western multinationals have to face in India, as well the implications of their adopted major changes in business practices to succeed in India…
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Peculiarities of Business in India
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Download file to see previous pages This write up examines in detail the prevalent business, socioeconomic, and cultural environments that western multinationals have to face in India, as well the implications of their adopted major changes in business practices to succeed in India.
Despite revolutionary changes since the independence of India, the basic business style has remained the same as of family-controlled businesses. Leading business families, from Birlas and Tatas to Reliance, keep total control on a business of companies promoted by them. Major management posts in these business houses are always held by responsible family members. Though the joint family system is slowly disappearing, still there is a common tendency in Indian families to own a business.
Another prominent feature of the Indian economy is that non- corporate sector has the largest share of the total business of the country. They are the largest employment providers. Growth in non- corporate sector is much faster than even in the corporate sector. Non- corporate sector is engaged in widespread manufacturing and service industries, and these are again mostly family business. Noncorporate sector works according to available conditions and develops their business models suiting prevalent conditions and systems. This way India is a high powered distant society. Western businesses will have to accept family authority while negotiating business deals with non- corporate as well as family-controlled corporate sector.
The business language in urban India is local language mixed with English. It is also mixed with Hindi and state dialects making it difficult for a casual business operator to negotiate. There are wide ranges of languages spoken in diverse India.  ...Download file to see next pagesRead More
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