Impact of International Business in India

Impact of International Business in India India has emerged as a potential and a diversified market for the Western firms and other foreign investors. Earlier establishing a business in India was a challenging assignment, but economic reforms, brought in by different Indian governments over a period of time, have smoothen the course of entry for Western multinationals and other business magnets. Still it is considered difficult and a different proposal to do business in or with India, mainly because of its different business and socio- economic culture. Western multinationals/ investors dealing with India so far had to adopt major changes in their business style in order to serve effectively to their customers. This write up examines in detail the prevalent business, socio- economic, 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. Business, socio- economic and cultural environments of India Family Business and non corporate culture Despite revolutionary changes since 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 business of companies promoted by them. Major management posts in these business houses are always held by responsible family members. Though joint family system is slowly disappearing, but 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 wide spread manufacturing and service industries, and these are again mostly family business. Non corporate sector work according to available conditions and develop 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. Multi Linguistic and cultural market with political challenges 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. Accordingly, perfection in one language by a Western business negotiator does not mean that he or she can represent his/ her business deals effectively in all parts of India. Though middle class rules the roast in India, but this class mostly believes in eastern culture, making it imperative for Western multinationals to adopt eastern tastes in their goods and services being marketed in India. At the same time it is difficult for foreign companies to standardize their products on national basis because of diversity in regional culture; but it may be possible in India on regional basis. Also foreign MNCs need to find out the consumers tastes in India before launching their products or services in Indian markets. One thing is necessary to understand that economic growth in India has brought up its middle class to the fore front; and at the same time rural poor are largely isolated from the achievements of growth.With a robust and working democratic system, India is a federal republic where bulk of executive power rests with prime minister and his or her cabinets. As a nation state, India presents a vast mosaic of hundreds of different ethnic groups, religious sects, and social castes. About one third of population lives in urban areas; an overwhelming majority of the remainder is engaged in the agricultural sector.(Michael F. Martin and K.Alan Kronstadt, August 31, 2007)Â  [i]Â  An Indian is so politically informed or connected that it would not be wrong to say that every Indian treats himself/ herself as a politician in one sense or the other. With the result every political event in India has great impact on consumer markets. Politically there is a relaxed atmosphere at present for foreign direct investments (FDIs). But businesses often get disturbed with unwanted political rallies and events. Very frequently opposite national political parties call for nation- wide strikes (called bandh in Indian dialect) on any hot issue. The entire economic process gets disturbed and with the result corporations and other businesses suffer huge losses. For example on July 5, India went on strike. The country closed down at several places after opposition parties protested an increase in the price of petrol or gasoline. (In India, the government controls petrol prices). The Associated Chamber of Commerce and Industry estimated that nationwide strike caused a production loss of US $ 2.8 billion (Human Resources, July 29, 2010)Â  [ii]Â  . Indian economy is also badly bitten by the inflationary bug. Even necessities of life have become costlier for public at large. Average citizens find it difficult to save something for luxuries. Still luxuries like cars, foreign tours etc are being sold at rates that envy other economies of the world. But this is a fact of urban India only, where black marketing and corruption is rampant. Corrupt politician and business people make ugly display of their wealth. There is no doubt that Indian economy is growing, but this growth is lopsided. The required growth in infrastructural sector is lagging behind. This has created a real bottleneck for long term growth and economic expansion. This information is necessary for Western MNCs to decide about their target sector as well the type of market available in India for their products and services. India is a free economy and taking advantage of this, many Western MNCs are also raising part of their capital investment from India itself. BPO business brought in by multinationals in India succeeded because the MNCs exploited the conditions to best of their advantage. The shortage of infrastructure for BPO business was a matter of concern for MNCs. But MNCs found that building infrastructure in India is much cheaper than developing the same in western countries. India is a developing country with huge populations. Naturally the availability of educated labor force at lower prices was a distinct advantage that MNCs exploited to enhance their overall profitability. Indian young population has proved to be more hospitable and courteous than their counterparts in Western countries. Educated young people have a lot of command in English language making it very easy and economical to get the customer convinced about the product being marketed by BPOs. The result is that BPO business in India has become not only a profitable for MNCs, but a bread earner for thousands and lakhs of its staff without pressing government resource s. Changes adopted by international firms to serve customers in India Adoption with local conditions or changing of business rules provide international business to grow firmly. Western multinationals have taken many rational and objective decisions keeping in view marketing and other conditions prevalent in India. Changes in business style are necessary as the risks in the international business are not the same as in domestic markets. Some of changes adopted by Western MNCs to serve their Indian customers are discussed hereunder. Organized Retailing and direct marketing Barring exceptions like Bata stores and few others, retailing in India so far has been fragmented and not organized. Organized retail stores and trendy chain stores to catch the young customer is be one of the major changes brought in India by Western MNCs to serve and attract their customers. Though the trend is same as in western countries, but organization style has changed. Family owned businesses are being attracted to own retail stores and develop a chain of stores as franchisee or under other arrangements with MNCs. A few successful examples are McDonalds, Levis Strauss and others. Organized retailing is growing in India. With the results manufacturers are loosing their positions. Even local brands like Pantloons and Shoppers Stop are offering competitions to manufacturers owned stores. An organized franchisee style of retailing has ushered. It is also seen that family owned businesses seek franchisees of western MNCs. Many multinationals are entering Indian market though partnerships with local giants in the organized retail sector. Direct marketing is another change brought in by the MNCs. Earlier joint venture technique of marketing has changed to direct marketing. Products are not being sold on agency basis. Goods are not manufactured but traded by MNCs in chain stores either owned by them or their franchisees. Earlier the trend was to find low cost manufacturing location in India for producing goods in India, and then marketing the goods by entering into joint venture agreements with local giants. No doubt MNCs are still benefitting from low cost production, but the trend has changed to offer the products and services directly to customers. Creating products to serve Indian markets One of the major changes that western MNCs have made is the introduction of products and services that suits Indian style of consumption. This means not only developing affordable products and services that deliver value to the customer, but also finding right kind of distribution channels and designing credit systems to permit the access of the poor to financial services. (Michael John Baker and Susan Hurt, 2007)Â  [iii]Â  In fact MNCs are taking full advantage of availably of large number of engineers, technicians, and other experts to introduce products as per Indian tastes of consumptions. Take the case of US Pizza Hut selling pizzas through its outlets in India. What they have brought to India is not an American style pizza but a way of serving food in a nice, clean, bright place at a price an ordinary family can afford. But the food they serve is what Indians like. In many cities in India, Dominos offers a 100 percent vegetarian pizza, cooked in a separate kitchen where no me at items are allowed. (Subash C. Jain, 2003)Â  [iv]Â   In fact marketing style the product has also changed by Western MNCs. For example creating small packs with simple designs and less volume at affordable prices will not only boost sale but also create brand awareness among a particular section of consumers. Introduction of financing schemes with marketing of products create an urge to buy among those who cannot afford the goods temporarily. This is certainly not unethical if the interest rates are reasonable. This is because reasonability is the basic rule of marketing. Another marketing idea floated by MNCs is to provide products and services on rental or lease basis instead of making a direct sale. This may take shape of hire- purchase sale or simple renting if the consumer does not want to purchase the product. Conclusion Indian market has peculiar characteristics. Owning family business is still the rage in Indian society that is multi linguistic with Hindi or English as link language. Inflation is very high and the conditions in India always remain political charged. Abundant educated labor force is available at reasonably cheaper wages. Corrupted people flaunt the use of money in an ugly way. Under such circumstances different democratically elected Indian governments created liberalized conditions for MNCs and other foreign investors to enter the Indian market. Businesses like BPO units succeeded immensely in India. Foreign investments also established varied businesses for their customers in India. For satisfying customers in India, these MNCs made concessions and changes in their traditional style of operations. Direct marketing and organized retailing are the major changes bought in by MNCs to satisfy their Indian clientele. Products also changed to suite Indian tastes of consumptions. Leasing and hire- purchase selling have become style of MNCs to satisfy their customers in India.

How does Byron present the lovers Essay

Byron feels very strongly about love, believing it to be a very good thing, especially when found in the young. Thus he presents the two lovers as sweet and beautiful. A third adjective, innocent could be added to the list and in Juan’s case certainly should be-however, throughout the passage we find hints that it does not apply to Julia. In stanza 106 Byron says that â€Å"her creed in her own innocence† was â€Å"immense. † So she believes forcefully that what she is doing is innocent and not wrong, and yet she knows it is: ‘†¦. she inly swore†¦Ã¢â‚¬ ¦. she never would disgrace this ring she wore. ‘ However, Byron does not damn her for thinking of ‘Don Alfonso’s fifty years,’ instead he justifies this behaviour in the hole of stanza 108. This is most probably because of Byron’s own feelings on the matter of love – he would not have backed away from extra-marital or adulterous love, believing infidelity to be a social normality. He believed that no shackles should be placed on love; it should be natural, and indeed this is how, to some extent, he does portray the love which blossoms here, though not as much as Juan’s later relationship with Haidei , ‘unconsciously she leaned upon [Juan]†¦ ‘ So, Byron shows us that Julia is aware of the wrongness of her impending deed, but he does not condemn her. Indeed it could be argued that Byron presents her infidelity as sweet and innocent in itself. The evidence for this can be found in the rhyming couplet at the end of stanza 105. ‘One hand on Juan’s was carelessly thrown, Quite by mistake – she thought it was her own. ‘ Clearly Julia knows the hand is Juan’s, but the lines are very tongue-in-cheek, and seem to be actually poking fun, very gently, at Julia’s pathetic attempts to make it seem as if she isn’t doing what she is. Byron is amused at her mock innocence and this in turn leads us to see her actions as less brazen and more innocent than they might seem. The fact remains though, that Julia is not innocent of adultery and this is conclusively shown in the lines, ‘Yet still she must have thought there was no harm, / Or else ’twere easy to withdraw her waist. ‘ So she is portrayed, seemingly paradoxically as a sweet and innocent, but knowing, adulterer. Don Juan, on the other hand, being only a young boy of sixteen is portrayed as completely nai ve and innocent. ‘His young lip thanked it with a grateful kiss And then abashed at its own joy, withdrew In deep despair, lest he had done amiss. ‘ The reader knows that he is completely nai ve, having previously read of his ‘breeding, which was strictly moral. ‘ So it comes as no surprise then that in this, his first romantic encounter, he should be ignorant of what to do and that Byron should portray him as he does. In conclusion then, the lovers are portrayed in some ways similarly but very differently in other respects. Byron reflects his attitude to love in portraying Juan and Julia as helpless in the face of their over-riding emotions – he describes love as ‘strengthening the weak and trampling the strong. ‘ This conclusion will suffice in the case of Juan but Julia is helpless in a different way. She is more worldly wise than Juan, having been married, and thus, almost certainly, sexual intercourse. She is portrayed as one caught in the middle of two pulling forces – her own ‘honour, virtue, truth and love for Don Alfonso,’ and her love for Juan. She knows that to display this love physically would be wrong, but she does it anyway – ‘And whispering, ‘I will ne’er consent’ – consented. ‘ Byron, however, does not condemn her for her actions, because of his belief in the power of love, and he portrays her still as a virtuous and sweet young woman, despite her ‘immoral conduct’. ‘A little still she strove and much repented,’ at the end of the passage shows she is still a woman of integrity, rather than one of loose morals. This is how Byron portrays the individual lovers. Together, they are depicted as a beautiful couple – ‘how beautiful she looked,’ – full of the initial exuberance of first love. Byron emphasizes the purity and goodness of their love over its illegitimacy in the eyes of the world and society, justifying it as much by describing its beauty as by showing why Julia’s marriage with Alfonso is not pure and good in stanza 108. In this respect Byron’s portrayal of the lovers in this passage is a continuation of the general theme of the hypocrisy of society in ‘Don Juan’. Ironically, Byron shows us, Julia’s legitimate marriage is un-natural and not really that good, whereas her illegal relationship with Juan is described with beautiful poetry, and is clearly more natural and proper than that of the former.

Individual Privacy vs. National Security

National Security has taken a new shape after the events of September 11, 2001, that is why I have selected the topic of Individual Privacy vs. National Security. I have selected this topic because of the amount of attention that has brought to this topic over the last ten years. There are many issues that the American people have with the government pushing what people believe cross privacy bounds thus causing court cases forcing policy changes. The ruling in the courts will affect how our government is able to gather information on possible terrorist threats while trying to keep the people’s rights protected. I plan on limiting the research by looking at key events that really have sparked the American people to uproar at the U. S. government. In looking at they more key events it will help to cut down the amount of hits that I will get in a search engine. The idea is that if certain issues really fire up the people then how will future bills or laws passed by the government be affected by pass rulings in the courts. In my paper I plan on looking into the Patroit Act and how this really affects what the government is allowed to do when they think someone is involved in terrorist acts. Also the other hot topic is that right now the government really does not need a warrant to track your cell phone using the different GPS signals. These are two of the biggest issues that could really help to shape current policy that the government uses to track people of interest. I am taking the side that there are times that the people of America need to give up some of their rights so that the government can protect them. It is a give and take relationship so there are times that both sides must find a common ground. Yet, there are times that the governments needs to have the ability to protect our national security at all cost.

Where to Find Free Accounting Courses Online

Where to Find Free Accounting Courses Online Free accounting courses provide an excellent opportunity to learn more about accounting  and related topics, like finance, auditing, and taxation, without any out-of-pocket expense. These courses typically go beyond the types of tutorials you might find on YouTube or a general accounting website; they delve into the advanced topics you might find at an undergraduate-level, or even a graduate-level, course at a college, university, or business school. For example, rather than just a short tutorial on how to prepare a balance sheet, a free accounting course will explain how to accurately prepare all of the required financial statements for a business. Earning a Credit for Free Accounting Courses There are some free accounting courses that grant a certificate of completion when you finish the course, but most free courses will not result in an  accounting degree  or college credit of any kind just because you complete the course. Why You Take Free Accounting Courses Online So, you may be asking yourself, why bother taking a course if you cant get earn credit toward  a degree? There are actually a few reasons why you might want to consider taking one or more free accounting courses online: Knowledge: The main reason why people take any type, of course, is to gain new knowledge. You can  acquire education  and skills in a free course, just like you could in a course that you paid money for.  Preparation: Free accounting courses can help you prepare for exams, such as the CLEP Financial Accounting examination. If you pass these exams, you could earn college credit toward a degree.  Practice: A free accounting course is a good way to practice for postsecondary-level studies. If you plan on attending a formal undergraduate or graduate degree program, taking a few free courses online will help you understand the types of lectures, reading and case studies you might encounter in future courses. Schools With Free Accounting Courses Online There are quite a few different colleges and universities that offer free courses or  OpenCourseWare (OCW). OCW varies by school but typically consists of class material like suggested reading, online textbooks, lectures, course notes, case studies and other study aids.   Here are a few respected colleges and universities that offer free accounting courses online: Kutztown University of Pennsylvania:  The Small Business Development Center at the Kutztown University of Pennsylvania offers more than 70 free business courses, including courses related to accounting, finance, and small business tax.  Massachusetts Institute of Technology (MIT):  MITs Sloan School of Management has an extensive OpenCourseWare program that provides course materials like video lectures, lecture notes, exams (with solutions), etc. for undergraduate and graduate-level students. Courses cover a wide range of topics, including finance theory, financial accounting, and managerial accounting.  Open University: The UKs Open University provides free educational resources through their OpenLearn website. Courses are categorized by topic and education level (introductory, intermediate, and advanced). Free accounting courses, videos, and reference materials can be found in the Money and Management category.  UC Berkeley: The University of California Berkeley offers fr ee video and audio lectures on topics like accounting, economics, mathematics, and statistics, among others. These lectures were posted in the spring of 2015 or before. For more recent UC Berkeley courses, you could visit edX, which offers free online courses from top universities around the world.

How to write an essay

How to write an essay Introduction How to write an essay is a difficult question. Much has been written and said about the main components of an essay, its purpose and functions, and the principal criteria of quality writing. However, it seems that standardization and essay writing are incompatible. Writing is entirely about inspiration, and any conventions or rules severely limit writers in their self-expression opportunities. An essay must have an introduction, body, and conclusion.Advertising We will write a custom essay sample on How to write an essay specifically for you for only $16.05 $11/page Learn More An essay must introduce the topic and lead the reader through the rising act to culmination, and again through the falling act to a conclusion. An essay is expected to be logical, but is there any logic in writing? Based on the thoughts and ideas of Alma Luz Villanueva, an essay is a complex product of the writer’s thought which has a central theme and numerous char acters and ideas, fighting and competing to produce a fluent, coherent, and logical piece of writing, which exemplifies an act of transforming energy into matter. Students and young writers are used to believe that an essay must always rely on a simple and comprehensible structure, which necessarily includes an introduction, a body of the paper, and a conclusion. Students are taught to write their essays in a logical and fluid manner. Outlines help to present complex ideas in an easy-to-understand format. The main components of an essay usually include a brief introduction to the topic, a rising act and culmination, as well as a falling act and a conclusion. This is particularly the case of fiction and creative writing. Here students are compelled to follow a predetermined sequence of writing actions, which helps them to earn them good grades but does not always make their papers interesting and fascinating. The fact is that writing and rules are not always compatible. An essay must have an introduction, body, and conclusion, but writing is not merely about structuring. Writing is about inspiration. It is an act of transforming energy into matter (Villanueva 85).It is like giving birth to a child or dreaming awake (Villanueva 85). It is a complex product of the writer’s thought, which does have a central theme and characters fighting and competing with one another and creating a full, multidimensional picture of the world. The main components of an essay, including introduction, body, and conclusion serve the purpose of logical writing. They create a structured and fluent vision of the surrounding reality. Simultaneously, they may disserve quality writing, as they make the process of writing fully conventional and absolutely uninteresting. The act of writing is often unexpected. It is unexpectedness that makes writing so fascinating. That was how Alma Luz Villanueva wrote her first novel: she allowed her characters to reveal themselves in their own voic e (84). They do so without betraying the central theme, or the vision, of the writer (Villanueva 84). Characters play with the writer’s vision of the world. The central theme remains unchanged; but characters have relative freedom of participation and performance. The central theme guarantees fluidity of the essay.Advertising Looking for essay on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More The central theme also imposes some limitations on how characters reveal their egos. Therefore, the central theme is the main component of any essay that also serves the purpose of quality, interesting and fascinating writing. The need to remain within the boundaries of the central theme also justifies the need for creating an outline. An outline is a brief and comprehensive set of ideas discussed in an essay. Villanueva recognizes that an essay is always a logical sequence of ideas and acts (84). The magic of the writing pro cess is a unique combination of wonder and terror (Villanueva 84). An outline makes possible even the most difficult sequences (Villanueva 84). An outline makes possible to continue the writing process with fluidity (Villanueva 84). An outline helps writers to pursue logic and coherence in writing. Unfortunately, the idea that writing is entirely about outlines and boundaries is misleading. No one can fully explain what writing an essay means. Each and every writer has his (her) own model of writing essays. Villanueva claims and teaches her students that writing is an act of transforming energy into matter (85). It is a leap of faith – a question that warrants an answer (Villanueva 84). It is a magic of terror and wonder (Villanueva 84). Writing an essay is almost the same as giving birth to a child (Villanueva 85). However, a woman cannot give birth to a child, unless she has a basic understanding of what it is. A woman always imagines its birth (Villanueva 85). Likewise, a writer always imagines his (her) essay. The central theme is probably the most relevant element of an essay that creates a foundation for developing its structure, with an introduction, and rising and falling acts, a culmination and logical conclusion. The central theme drives the thought and creates the boundaries of knowledge. It reinforces the sense of fluidity and coherence within a piece of writing. It is through the central theme that writers transform their energy into matter – a readable and comprehensible essay that leads readers through fascinating ideas and characters to a logical but always unexpected end. Conclusion An essay is a complex product of the writer’s thought which has a central theme and numerous characters and ideas, fighting and competing to produce a fluent, coherent, and logical piece of writing that exemplifies an act of transforming energy into matter. An essay is always a logical sequence of ideas and acts.Advertising We will writ e a custom essay sample on How to write an essay specifically for you for only $16.05 $11/page Learn More The central theme drives the thought and creates the boundaries of knowledge. It is through the central theme that writers transform their energy into matter – a readable and comprehensible essay that leads readers through fascinating ideas and characters to a logical but always unexpected end. Villanueva, Alma Luz. â€Å"Leaps of Faith.†

Economics of sex and drugs Essay Example | Topics and Well Written Essays - 250 words

Economics of sex and drugs - Essay Example eople who will be visiting the city of Denver will lead to an imbalance in the market for prostitution and this is bound to create some pressures on the prices for the services. The various dimensions of the effects as well as the movements expected are discussed below in order to have a clear picture on the expected outcomes (Moffatt, Peter and Simon, 681). As has been mentioned above, the first basic effect of the National Western Stock show is the fact that there will be some imbalances in the supply and demand of prostitution services. This is due to the fact that a lot of people are expected to come to the city to show case their products and services while others will be visiting the city in order to experience the show. The first dimension of this influx is that there will be an increase in the demand for prostitution services and this is expected to push the prices upward as the market forces adjust themselves accordingly. It is expected that the prostitutes operating in the city will increase the prices of their services in order to benefit from increased demand for their services (Moffatt, Peter and Simon, 683). Additionally, the influx of people will bring in people with more disposable income and; therefore, they will be willing to spend their money on various forms of leisure and entertainment such as seeking the services of prostitutes. This will lead to an increase in the prices of the services since they will be willing to pay more than normal in order to access the scarce services. It is; however, important to note that this may not go on for long as the market will adjust itself almost immediately as it is expected that other prostitutes from other cities and localities will also invade the city in order to benefit from offering services to the people at the show. This means that the supply of prostitution services may actually increase and this may put a downward pressure on the prices (Dill 96). The expected increase in the demand for

Key Features Assignment Example | Topics and Well Written Essays - 750 words

Key Features - Assignment Example The literature Review conducted by the authors is exhaustive and in-depth. The sources that were used by the authors are reliable. However, the authors should not have used sources that are older than ten years. The reason is that approaches to conducting research have changed over the years. In addition, old sources might have outdated information. As a result, basing the conclusion on such sources might make the journal to be deemed as unreliable. Nevertheless, the fact that the authors used varying sources from different fields reduces the level of biases. In addition, the sources are from credible organizations and institutions of higher learning. All sources that were used in this study emanates from the relevant fields. As a result, the information in them can be used to make an in-depth conclusion. The authors are trying to find out different work health and safety issues that affect the young people and the most effective solutions. They were trying to determine whether these issues have an effect on young people’s performance in their workplaces. Nevertheless, other articles clearly state the research questions rather than include it in the objective. This is important in ensuring that the article is clear. Ethical Consideration The authors ought to have sought ethical approval from the organizations. The young respondents that were used in this study were working in the organizations. As a result, a credible study should seek permission to interview or use some of the employees in the study.