Investment and Human Resource
1. What is the climate for doing business in India? Is it supportive of foreign investment?
Doing business in India was very difficult in the past and took companies years to set up. In recent years, due to changes in the government, business has become easier and India has become more dependent on foreign investment. This change in foreign investment has positively impacted their economy and helped raise their GDP significantly. Although there are advantages to establishing relationships in this country, there are also many disadvantages due to cultural and religious differences. Each state has a different language which can make communication difficult, Indian society has a business culture of using hierarchy to define people’s roles, status and social order, and meetings and negotiations are held differently then in the United States, stressing on the importance of being on time, scheduling in advance and proper greetings (Kwintessential). Trust is also a key element in building relationships with Indian companies. Although there are differences in business climates, being aware of these differences can make the process just as easy as doing business in your own country.
Source 1: http://www.kwintessential.co.uk/etiquette/doing-business-india.html
2. How important is a highly educated human resource pool for MNC’s wanting to invest in India? Is it more important for some businesses than for others?
Having a highly educated human resource pool can be a great advantage for companies wanting to invest in India. By having a human resource department you are more prepared for expansion then companies without. Human resource departments take care of many things such as recruiting and training people, workplace communication and safety, and developing public relations with potential demographics and clients (Buzzle). With this is mind; you are able to focus more on the business aspects of the potential investment while human resource can focus on building a
Doing business in India was very difficult in the past and took companies years to set up. In recent years, due to changes in the government, business has become easier and India has become more dependent on foreign investment. This change in foreign investment has positively impacted their economy and helped raise their GDP significantly. Although there are advantages to establishing relationships in this country, there are also many disadvantages due to cultural and religious differences. Each state has a different language which can make communication difficult, Indian society has a business culture of using hierarchy to define people’s roles, status and social order, and meetings and negotiations are held differently then in the United States, stressing on the importance of being on time, scheduling in advance and proper greetings (Kwintessential). Trust is also a key element in building relationships with Indian companies. Although there are differences in business climates, being aware of these differences can make the process just as easy as doing business in your own country.
Source 1: http://www.kwintessential.co.uk/etiquette/doing-business-india.html
2. How important is a highly educated human resource pool for MNC’s wanting to invest in India? Is it more important for some businesses than for others?
Having a highly educated human resource pool can be a great advantage for companies wanting to invest in India. By having a human resource department you are more prepared for expansion then companies without. Human resource departments take care of many things such as recruiting and training people, workplace communication and safety, and developing public relations with potential demographics and clients (Buzzle). With this is mind; you are able to focus more on the business aspects of the potential investment while human resource can focus on building a