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Strategic Expansion into the Indian Market: A Comprehensive Business Analysis and Implementation Plan

A solved business strategy assignment on market expansion in India.

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    1 Strategic Expansion into the Indian Market: A Comprehensive Business Analysis and Implementation Plan Introduction The foreign market chosen for expansion is India. Further, this particular paper highlights concerns of Chairman, Vice Ch airman, Secretary and Treasurer with respect to this expansion . Chairman 1. Discuss the macro environment of the country. Political Factors In India there is high interference from government in form of taxes and tariffs. Economic Factors The economic factors affecting the business environment of India include inflation, economic stability, interest rate, foreign exchange rate, change in income levels and rising population rate. Social Factors The social factors affecting the business environment of India customer buying preferences, market trends, changing lifestyles and rising income levels. Technological Factors The business environment of India has shown great success in terms of technological advancement. The chief technological factors affecting India are research and development, technical advancement and high expertise.

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    2 2. What is the company strategy there? The company would follow cost leadership strategy in India. This approach involves perking up profits through decreasing costs, at the same time charging market average prices and augmenting marketplace share by way of charging lesser costs, at the same time generating a considerable profit on every same since there is decreased cost ( Stahl and Grigsby, 1997) . The cost leadership strategy basically involves being the leader with respect to cost within the business industry or market. Simply being amongst the lowest - cost producers is not good enough, as you leave yourself wide open to attack by other low - cost producers who may undercut your prices and therefore block your attempts to increase market share. 3. How will you be socially and economically responsible? The company at every level would ensure that it operates in a socially and economically responsible manner. It would offer superior quality and reasonably priced products to its customers. It would ensure that products meet the set standards. 4. What would be the role of management? Management involves individuals who design a company’s structure and decide the wayin which different facets of the companywould interact ( Gomez - Mejia et. al., 2008) .Management role would involve six fundamental functions i.e. planning , organizing , leading , staffing, controlling and lastly, motivating.Different levels of management wouldtake part in distinctelements of this design procedure , with upper management building the basic organizational structure. Basically, the role of management would be to direct the company toward sobjectiveachievement. The Management would be responsible for moving the company towards its goals or purposes through assigning tasks, whichindividuals in the company would carry out.

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    3 5. What is the mode of entry you are going to use, and why? The company would choose s trategic a lliance for entering the Indian marketplace. Strategic alliance simply mirrors the want of companies to accomplish their autonomous business goalssupportively ( Lorange and Roos, 1993) . However , in today’s complex business environment, there exists the need for m aking such a business planningfor gain ing competitive benefits among st the fierce rivalswithin the market place. Companies, which form strategic alliance generally, expect to gain advantage in one way or the other . The chief reasons for company to take on strategic alliance approach involve:  Gaining capabilities : The Company might want to manufacture something or acquireparticular resources which it lacks with respect to knowledge, expertise and technology. It might require sharing those abilities that the other companies hold .  Simpler access to target market place: Launching the product in a new market place could prove to be costly and complicated . Selecting strategic alliance approach as the entry mode wouldhelp in dealing with risks and reducing the entry cost.  Sharing financial risk : Companycould usestrategic arrangement f o r reducing their individual corporate financial risk.  Handling political obstacle s : Introducing a product into some othernation might confront the company with political forces and strict rulesinflicted by national government . T hus, strategic alliance can help the company to deal with this .  Achieving competitive advantage and synergy: C ompetitive advantage and synergy are factors that direct thecompany to wardshigher success. Thecompanymight not be powerful enougho f attain ing these elements independentlyhowever it might doable through joint efforts with some other company .

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    4 6. You are also thinking of how you are going to implement the rewards program.  Obtainingfull support of the top management . After that establish ing a planning team.  Determining the basis for recognition  Get ting the input from prospective recipients about their recognition preferences  Deciding the recognition approaches i.e. w ho would hand out the recognition? W hat criteria would be adopted f o r determining who is eligible for receiving the rewards? How often or w hen the recognition would take place? How the recognition would be attained ( i.e. public or private , informal or formal)?  Document ing everything for future use  Seek ing feedback about the program after it’ s executed. 7. What do you think would motivate the workers? The company would adopt several strategies for motivating employees. These include:  Observingstaff performance all throughthe evaluation period and not wait ing til l performance appraisal time f o r review ing how staff membersperform their jobs .  Givingstaff members’ regular feedback.  Scheduling public announcements for recognizing employee s .  Promotingstaff members with performance records, which regularlysurpass the organization’s expectations.  Ask ingstaff members to volunteer for roles where they couldshow their abilities.  Obtain ingstaff opinions by making use offrequently scheduled surveys, generally once a year. 8. How would you design the right culturally appropriate program?

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