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Answer Upon - Deciphering the Indian Business Space
Have you ever thought of an idea for a web site and rushed out to buy a domain name, only to quickly lose interest and let it sit undeveloped for months?Instead of letting your domain names waste away unused, you should consider “parking” them.It takes less than five minutes, and once your domain is parked, you can start making money every time that a visitor clicks an ad on your page.If you decide one day that you do want to develop the domain, it is just as painless to un-park it.In order to park a domain, all you need is a parking service. There are thousands of options out there, and everyone has their own set of pros and cons.Out of all the available services, Sedo and ROI: False Conclusions
Drawing false conclusions from Return on Investment analysis can be embarrassing and it can be costly.Here’s an example from business in managing risk and calculating Return on Investment ROI:The management of company A wanted to decrease the cost of manufacturing a key product. This was in light of new technologies that had just become available.They have 60% of the available business with this product and their closest competitor, Company B, has 14% of the market.Company C has about 10%.The other 16% is held by several small companies that sell a substitute product of lower cost but inferior performance.Company A calculated the cost of reducing manufacturing cost. They then calculated the return on investment (ROI). The return was less than the 15% required by
Some of the ‘must know’ realities about India, which can help any Business concern wanting to make an entry, are –
Land of Diversity
Do not ever assume India to be one big homogenous mass. That is, the consumers cannot be slotted as one single huge entity. Unlike most western countries where elements such as language and religion could contribute to a certain homogeneity that could exist in society, in India there are myriad factors that contribute to unbelievable diversity. Take language for example, the constitution of India has stipulated the language for official communication as English and Hindi. In addition, it classifies a set of 22 scheduled languages which are languages that can be officially adopted by different states ( there are 22 States and 7 Union territories ) for administrative purposes, and also as a medium of communication between the national and the state governments. Though Hindusim is the religion that is practiced by majority ( 81% ), Islam, Christianity, Sikhism, Jainism, Buddhism and Zoroastrianism, are practiced too. Food Habits too change from region to region. Religion, Caste restrictions, geography, weather, and influences from other countries ( invasions and occupations ) have all contributed to the diversity in Food Habits.
All of this points to a diverse population that cannot be painted with the same brush in terms of characterisations. Doing business in India almost stipulates an understanding of this diversity. Some Business Concerns have understood this very well and have therefore ended up being successful in their ventures in India.
The best example of this is McDonalds. The primary reason for their success apart from their ‘competitive’ pricing which made the burger extremely affordable, is their menu. The menu at McDonalds hase been customised for the Indian palate. ‘Beef’ does not feature on the Menu, due to religious considerations. The customised Menu, features items such as ‘McAloo Tikki Burger, Maharaja Mac and McCurry among other Indianised dishes. Contrast McDonalds with Kelloggs which failed to understand the Indian palate and so found the going tough in India with its offerings.
What also needs to be borne in mind is that at times, customisations should not just be restricted to the country, but must also be extended to specific regions. In the business of Food and Beverage the Menu items must differ from region to region. For example, to the south of India, where vegetarianism prevails, this aspect must be reflected in the Menu Items. Similarly Coffee as a beverage finds greater favour in the south of the country.
The Great Indian Middle Class
A good office {even if it is a home office) is one that is well organized and tidy, such that it creates an atmosphere that is suitable for working efficiently and effectively. The importance of a tidy, clutter-free office cannot be overstated in maximizing productivity and setting oneself well on the path to success.Initially, organizing an office might seem like a tedious chore, but once done, it is sure to make such a difference to the ambience that makes work a fun activity one eagerly looks forward to. Innumerable studies and experts on productivity and time management have advocated the benefits of having a neat, tidy and well organized office.One of the simplest rules for getting this orderliness into an office is: “there must be a proper place for everything and everything must be i
Land of Diversity
Do not ever assume India to be one big homogenous mass. That is, the consumers cannot be slotted as one single huge entity. Unlike most western countries where elements such as language and religion could contribute to a certain homogeneity that could exist in society, in India there are myriad factors that contribute to unbelievable diversity. Take language for example, the constitution of India has stipulated the language for official communication as English and Hindi. In addition, it classifies a set of 22 scheduled languages which are languages that can be officially adopted by different states ( there are 22 States and 7 Union territories ) for administrative purposes, and also as a medium of communication between the national and the state governments. Though Hindusim is the religion that is practiced by majority ( 81% ), Islam, Christianity, Sikhism, Jainism, Buddhism and Zoroastrianism, are practiced too. Food Habits too change from region to region. Religion, Caste restrictions, geography, weather, and influences from other countries ( invasions and occupations ) have all contributed to the diversity in Food Habits.
All of this points to a diverse population that cannot be painted with the same brush in terms of characterisations. Doing business in India almost stipulates an understanding of this diversity. Some Business Concerns have understood this very well and have therefore ended up being successful in their ventures in India.
The best example of this is McDonalds. The primary reason for their success apart from their ‘competitive’ pricing which made the burger extremely affordable, is their menu. The menu at McDonalds hase been customised for the Indian palate. ‘Beef’ does not feature on the Menu, due to religious considerations. The customised Menu, features items such as ‘McAloo Tikki Burger, Maharaja Mac and McCurry among other Indianised dishes. Contrast McDonalds with Kelloggs which failed to understand the Indian palate and so found the going tough in India with its offerings.
What also needs to be borne in mind is that at times, customisations should not just be restricted to the country, but must also be extended to specific regions. In the business of Food and Beverage the Menu items must differ from region to region. For example, to the south of India, where vegetarianism prevails, this aspect must be reflected in the Menu Items. Similarly Coffee as a beverage finds greater favour in the south of the country.
The Great Indian Middle Class
We rarely see stories or articles about productivity in the newspaper or on TV. When we do, it’s usually just another story on the economy that defies understanding.Which is too bad. Our prosperous standard of living arrived, in large part, because of the ability of companies and organizations everywhere, and for the past several hundred years, to increase productivity.Productivity simply refers to how much labor or money it takes to create a product or service. If a carpenter can build one house in one month, then the carpenter’s productivity is one house per month. If the carpenter gets new tools or new ideas and does the job more quickly, his productivity goes up.Every time productivity goes up, the carpenter’s standard of living goes up, too (generally speaking). Here’s another eed by different states ( there are 22 States and 7 Union territories ) for administrative purposes, and also as a medium of communication between the national and the state governments. Though Hindusim is the religion that is practiced by majority ( 81% ), Islam, Christianity, Sikhism, Jainism, Buddhism and Zoroastrianism, are practiced too. Food Habits too change from region to region. Religion, Caste restrictions, geography, weather, and influences from other countries ( invasions and occupations ) have all contributed to the diversity in Food Habits.
All of this points to a diverse population that cannot be painted with the same brush in terms of characterisations. Doing business in India almost stipulates an understanding of this diversity. Some Business Concerns have understood this very well and have therefore ended up being successful in their ventures in India.
The best example of this is McDonalds. The primary reason for their success apart from their ‘competitive’ pricing which made the burger extremely affordable, is their menu. The menu at McDonalds hase been customised for the Indian palate. ‘Beef’ does not feature on the Menu, due to religious considerations. The customised Menu, features items such as ‘McAloo Tikki Burger, Maharaja Mac and McCurry among other Indianised dishes. Contrast McDonalds with Kelloggs which failed to understand the Indian palate and so found the going tough in India with its offerings.
What also needs to be borne in mind is that at times, customisations should not just be restricted to the country, but must also be extended to specific regions. In the business of Food and Beverage the Menu items must differ from region to region. For example, to the south of India, where vegetarianism prevails, this aspect must be reflected in the Menu Items. Similarly Coffee as a beverage finds greater favour in the south of the country.
The Great Indian Middle Class
Wholesale buying by eBay sellers represents a growing percentage of the wholesale market.With eBay expected to surpass 200 million registered users in the near future, there will be plenty of more opportunities for eBay sellers to sell merchandise.The best source for the merchandise that eBay sellers need will come from the wholesale marketplace.Here are some great wholesale buying ideas for eBay sellers.Wholesale Buying Idea #1Select a niche. By focusing on a specific niche an eBay seller will both learn the strong selling points of the merchandise, his customer demands, and the best wholesale sources for his products.Wholesale Buying Idea #2Network with other eBay sellers. While an eBay seller will not divulge their wholesale sources, they might be happy in terms of characterisations. Doing business in India almost stipulates an understanding of this diversity. Some Business Concerns have understood this very well and have therefore ended up being successful in their ventures in India.
The best example of this is McDonalds. The primary reason for their success apart from their ‘competitive’ pricing which made the burger extremely affordable, is their menu. The menu at McDonalds hase been customised for the Indian palate. ‘Beef’ does not feature on the Menu, due to religious considerations. The customised Menu, features items such as ‘McAloo Tikki Burger, Maharaja Mac and McCurry among other Indianised dishes. Contrast McDonalds with Kelloggs which failed to understand the Indian palate and so found the going tough in India with its offerings.
What also needs to be borne in mind is that at times, customisations should not just be restricted to the country, but must also be extended to specific regions. In the business of Food and Beverage the Menu items must differ from region to region. For example, to the south of India, where vegetarianism prevails, this aspect must be reflected in the Menu Items. Similarly Coffee as a beverage finds greater favour in the south of the country.
The Great Indian Middle Class
Businesses are opening at an ever expanding rate, making competition for customers fierce. In order to keep up with the demands in the world today new businesses need to keep in mind the importance of good communication. The most important piece of equipment you will purchase for your business is the phone.Even before a business opens its doors the phones should be up and running and all employees need to be familiar with their use. Depending on the size of the business you can decide first what type of service will be needed to maintain excellent communication service. You need to be sure the phone service is reliable and that all calls can be answered in a timely matter.For a small business you may only need a simple system. To start you will need at least three lines for calls. Two of thher Indianised dishes. Contrast McDonalds with Kelloggs which failed to understand the Indian palate and so found the going tough in India with its offerings.
What also needs to be borne in mind is that at times, customisations should not just be restricted to the country, but must also be extended to specific regions. In the business of Food and Beverage the Menu items must differ from region to region. For example, to the south of India, where vegetarianism prevails, this aspect must be reflected in the Menu Items. Similarly Coffee as a beverage finds greater favour in the south of the country.
The Great Indian Middle Class
The Indian ‘Middle class’ seems to be the favorite target for almost all Multinational businesses and their offerings. The consuming patterns of this class of people is definitely undergoing a transformation, with a significant quantum of earnings being spent on ‘discretionary’ items such as entertainment, consumer durables, books and so on. Yet this class is not necessarily ‘brand’ driven and therefore evaluates every product and service purchased, in terms of ‘value for money’. It does not have any qualms in shifting to a non branded offering if the offer were perceived as better value. The ‘value’ perception in many cases is ‘price’ sensitive. India's individual purchasing power may climb from $2149 in 1999 to $16500 in 2040. The brand driven culture in India can be limited to a few metropolitan cities, such as New Delhi, Mumbai, Bangalore, Chennai and a few other smaller cities that have attracted a migrant crowd because of the growth in services sector in them. They include Pune, Hyderabad and Gurgaon.
The states that promise a burgeoning middle lie to the south and west of the country. These states show a promise of a huge middle class community with the necessary purchasing power at least by the year 2020. Contrasted against these states would be the states to the east of the country that include Bihar, Uttar Pradesh and Orissa which will take even more time to develop this ‘middle class’. Add to this the North eastern states,and the picture is not too rosy.
Bureaucracy
The bureaucratic system that is found in India is stifling slow, problematic and corrupt. In the words of Mr. T N Seshan, former election commissioner and Cabinet Secretary, ( quote ), “We have the largest number of laws covering and uncovering almost every aspect of human life. But the inside out of Indian democracy today is that law is obeyed more in circumvention and defiance than in effect…All that we built to enshrine freedom has been eroded by a plethora of decrees, laws, rules, ordinances which serve a few; it serves the State, but not the citizens. Today it has become desperately difficult for the citizens to defend themselves against the onslaught of laws, rules and ordinances, and against the overpowering destruction of individual freedom and dignity…there is palsy at the centre and paralysis at the periphery…We have practiced socialistic principles for 46 years or more. At the end of it, today, 20% of India’s population takes 25% of its gross national income and 40% of the population takes 2% of the national income.”
Just recently, the visiting Singapore
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