There has been an accepted shift from the stand that marketers show no significant interest in the culture of the countries they have started operations in (Holden, 2004, 563). Organizations have realized that it has become necessary to be knowledgeable about the traditions of the native country. The present scenario calls for the organizations to endorse localization – for which they need to understand ethics at a much minute degree.
The coming to age of the world economy has opened up new paradigm in the aspect of business communication – as different communities are set to interact with each other with absolutely no prior history of interaction (McPherson and Szul, 2008, 39). Before dwelling further in the topic, let us discuss how the business fraternity in India is gearing up towards the new global economy. India, as part of BRIC (acronym for Brazil, Russia, India and China), symbolizes the highest growth rate markets in the present world. This is due to the fact that the country has access to a highly skilled, yet cost effective, labor pool and a growing consumer class. This consumer class has a rising disposable income and thus India is the place to be for all the aspiring businesses in the world.
Moreover the country, after years of Government control, is finally opening up to the world economy. This, along with a trend that will transform the economy from agrarian to service oriented, indicates a good prospect for a food processing company.
However, India has its own typical rules and regulations when it comes to business. Further workplace culture is heavily influenced by demographic factors – like religion and age. Global corporations have to take cultural implications into consideration when they open shop here (Roberts and Tuleja 2008, 474).
One of the first things that one notices in India is the pace at which business negotiations take place. It is quite common for meetings to get delayed, postponed and even ...
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