Changing socio-cultural environment of india: how it impacts the business

Presented By: Nidhi Grover Nimisha Gupta Rahat Khanna Sandeep Kaushik MBA HR (2nd Sem)

What is Society and Culture

 Society

- Society is the manner

or condition in which the members of a community live together for their mutual benefit.

Culture - Culture

in simple words is the total way of life.

A modern society is many societies more or less loosely connected. Each household with its immediate extension of friends makes a society;

The village or street group of playmates is a community;

Each business group, each club, is another. Passing beyond these more intimate groups, there is in a country like our own a variety of races, religious affiliations, economic divisions.

Learned : Culture is not inherited or biologically based, it is acquired by learning and experience Shared : People are member of a group, organization, or society share culture, it is not specific individual.

Trans generational : Culture is passed on from one generation to the next.

Symbolic: Culture is meaningful to human beings because of its symbolic quality. Adaptive : Culture is learned by each person in the course of his development in the society.

Socio-cultural environment & its impact on business

Indian Perspective

That part of the firm's external environment in which social or cultural changes (that is, changes to the value system of a society) act to affect the firm's overall effort; the changing socio-cultural environment may pose threats or present opportunities

Socio-cultural environment is one of the important component of business environment.

It is a non economic external environment. This component is beyond the control of individual business unit. A business units will have to adjust in accordance with changes in socio-cultural environment

Social environment refers to influence exercised by certain social institutions and social systems like: Family, caste system, marriage, religion etc. Cultural environment refers to influence exercised by certain cultural factors like: peoples attitude to work, custom, value system, habits and preference, education, language, tradition etc.

So broadly speaking components of socio-cultural environment are as follows: Social institutions and social systems Social values and attitudes.

Language Development of Rural Areas Urbanization

Ethics

Education

Cross cultural issues

Business

Cultural Resources

Family System Caste System

Religion and customs

Marriage

Family owned Indian companies

Business divisions

Joint to Nuclear families

Children become centre of family

Ancient Indian Society four major castes after independencedilution of caste system Increased social mobility

Still prevalent

Set of beliefs and practices

Over 100000 religion in world

Impact on economy of a country

Customs are established practices Customs dictates how things are to be done

Social institution

Increased demands increased business activities

Economic and social significance

Foundation of any culture

Over 3000 languages in world

High & Low Context language

Indian languages

Does language influence business?

Science of morals Internal & external Law v/s Ethics

Evaluations, feelings & tendencies

Either positive or negative

Includes opinion about individual freedom, democracy, truth & honesty, justice, love etc. Attitude towards work

Impact on business

What is education? Education system in India Educational institutions Knowledge v/s Imagination

Heritage which makes the country distinctive Indian culture rich in its heritage Full of natural resources Variety of minerals Rich in flora and fauna

Shifting from rural to urban areas Complex life High cost of living

More business activities

Green revolution

Good market

Increased exposure

Reduction of gap between rural and urban

Cultural DifferencesPeople in different cultures behave differently.

Hofstede Index
Dutch Researcher Geert Hofstede has found five dimensions of culture in his study of national work related values. Necessary to study to avoid culture shock.

Small vs. large power distance - Measures how much the less powerful members of institutions and organizations expect and accept that power is distributed unequally.
Individualism vs. collectivism - Measures to what extent members of the culture define themselves apart from their group memberships. Masculinity vs. femininity - Measures the value placed on traditionally male or female values Weak vs. strong uncertainty avoidance - Measures how much members of a society are anxious about the unknown and attempt to cope with anxiety by minimizing uncertainty. Long vs. short term orientation - Measures the importance attached to the future versus the past and present.

INDIA Power Distance Index (PDI) - 77 Individualism (IDV) - 48 Masculinity (MAS) 56 Uncertainty Avoidance Index (UAI) 40 Long-Term Orientation (LTO) - 61

WORLD Power Distance Index (PDI) - 56.5 Individualism (IDV) 56.5 Masculinity (MAS) 51 Uncertainty Avoidance Index (UAI) 65 Long-Term Orientation (LTO) - 43

INDIA

WORLD

Some important facts and figures of the Indian SociAl system

Population: In 2009 India have approximately 1.15 billion ( 2nd largest in world) population with growth rate of 1.407% ( 93 highest in the world) Working population: Comprises 31.1% Children (0-15 years), 63.6% of 15-65 years and 5.3% of 65 and above Median age is 25.3 years By 2013, net addition to the productive population (aged 25-44 years ) will be 91 million or 33% increase. The share of the working age population (15-64 years) in total population will grow from the current 59% to about 65%, translating into 882 million by year 2020 Urban Population:29% urban population(2008) with growth of urbanization 2.5 % per annum(2005-10)

Religion: Diversified religions with 80.5% Hindu, 13.4% Muslim, 2.3% Christian,1.9% Sikh and 1.9% others. Emerging Middle-class: Key driver for investment opportunities is the growth of the middle class
Increased from 10% to 22% of population from 1990-2008 Expected to grow from 22 % to 48% from 2008-2015

Language: Hindi 41%, Bengali 8.1%, Telugu 7.2%, Marathi 7%, Tamil 5.9%, Urdu 5%, Gujarati 4.5%, Kannada 3.7%, Malayalam 3.2%, Oriya 3.2%, Punjabi 2.8%, Assamese 1.3%, Maithili 1.2%, other 5.9% India also has a large number of young graduates with strong technical and English language skills

Infant mortality Rate: 50.78 deaths/1,000 live births male: 49.33 deaths/1,000 live births female: 52.4 deaths/1,000 live births (2009 est.) Life Expectancy Ratio: 66.09 years male: 65.13 years female: 67.17 years (2009 est.) Total fertility Rate: 2.68 children born/woman (2009 est.)

In 2009, the Male to Female ratio was 1.06 male(s)/female Employment of Women in organized sector was 18.8% in 2002 which rose to 18.8% in 2004 Female literacy rate was 54.5% as compared to Male Literacy rate which is 76.9% in 2009

A person is said to be literate if he/ she is 15 years and above and can read and write Approximately 35% of illiterate world population is of India In 2007, adult literacy rate is 66% from 12% in 1947 In 2009 Literacy rate for men was 76.9% for men and 54.5% for women Kerala is the most literate state in India, with 90.86% literacy and Bihar is the least literate state with 47% literacy. To promote Education Govt. launched Sarva Shiksha Abhiyan to provide free and compulsory education for age group 614 years, Mid Day Meal scheme etc.

Telephones -Main Line: In use 37.45 Million(2009) Telephones- Mobile cellular: 427.3 Million (2009) Internet hosts: 3.611 Million (2009) Internet Users: 81 Million (2008)

Important for individuals to have opportunities to earn to meet their material needs In 2009, India has a labor force of 147 million which is second largest in the world

Labor force by occupation Agriculture 52% Industry - 14% Services 34%

Unemployment Rate has fallen from 9.5% in 2008 to 9.1% in 2009 Minimum Wages, as per Government of India, for all the States, about Rs. 40 to 60 per day per person, average about Rs. 50 per day. For 25 days per month

According to world bank Poverty is hunger, lack of shelter, inability to access medical help and education According to a 2005 World Bank estimate, 42% of India's falls below the international poverty line of $1.25 a day (in Rupees it is Rs. 21.6 a day in urban areas and Rs 14.3 in rural areas); having reduced from 60% in 1980. As per the Government of India, poverty line for the urban areas is Rs. 296 per month and for rural areas Rs. 276 per month, i.e. people in India who earn less than Rs. 10 per day, this amount will buy food equivalent to 2200 calories per day, medically enough, to prevent death. 27.5% of the population was living below the poverty line in 2004 - 2005, down from 51.3% in 19771978, and 36% in 1993-1994

It further declined to 25% in 2007

According to International Labor Organization (ILO) work that does not interfere with Education is permitted from the age of 12 Hence all Children below 12 years, working in any economic activity, those aged 12 to 14 years engaged in harmful work comes under the category of Child labor According to ILO 256 million children are engaged in child labor in 2008 Nearly 70 million school going age children are out of schools

The increase in allocation of budget for social sector to 37% of the total plan outlay in the 2010 2011 Budget is appreciative. It reflects the government promise to the Aam Admi. But sadly about 400 million children who constitute 41% of Indias population have once again been ignored. The share for children in the budget allocation has only a marginal increase from 3.7% last year to 4.1%.

According to the Centre for Budget Governance Accountability(CBGA), the sector-wise composition of the 4.1% total outlay for children in the Union Budget 2010 -2011 (BE) is - 75% meant for education, 20% for Child Development, 4% for Child Health and 1% of Child Protection. Like the CBGA reports says, it is indeed disappointing to note that the Child Budget continues to be skewed against Child Health and Child Protection.
The increase for School Education and Literacy from 2.7 % to a mere 2.81 % does not reflect the governments commitment to the Right to Education Bill passed recently. And the mere 1% for Child Protection within the allocation for children is extremely sad. The Government is answerable to the millions of children who are Child Laborers and living on the streets.

As far as Child Health is concerned, India today has disturbing figures like 5000 children under 5 dying every single day. But only a scanty 4% of the 4.1% of total allocation earmarked for children is for health. This kind of allocation suggests that the government is probably indifferent towards the thousands of children who are deprived of their very basic right the Right to Live. With the plethora of issues faced by children in this country, slow and steady increases in budget allocations cannot solve the problems children face. We need bold, vigorous and proportional allocations to combat issues like Child Labor, School dropouts, Infant mortality, Malnutrition etc. However, the allocation of 40,100 crores to the NREGA and the 7,266 crores drought relief package for Bundelkhand is laudable. This allocation to Bundelkhand will revive the hopes of a better future for thousands of children affected by the severe drought in the belts of Uttar Pradesh and Madhya Pradesh.

Expansion of Integrated Child Development Scheme and the district wise evaluation of the Status of Health will be much more robust and will mandate civil society and panchayat in the process. With more than 25% of the countrys population still living Below the Poverty line, the announcement that the Right to Food Act is ready is a ray of hope. We are waiting for the passing of this bill along with the millions of poor in this country. But despite certain positive aspects of the Budget 2010-2011, the government has failed to investment in its youth. The Budget does not reflect the vulnerability of the country youth to the negative forces like the fundamentalists and Maoists. The government must step up to stem the drain youth from mainstream to decisive forces. The government must understand that if we want the increasing number of youth indulging in violence to stop, and a future sans violence, the government should reconsider its investment on youth and children.

WHAT HAS CHANGED IN INDIA AND WHY IT HAS CHANGED

A Socio-Cultural Perspective

1. From Desi (local) boys to Global Champs. 2. From Janta (citizen) to Journalist. 3. From Classic Cricket to T20 Spectacle. 4. From News Capsules to Masala Media. 5. From Brazen Confidence to Cautious Optimism. 6. From Sarkar (government) to Partner. 7. From a Filmi Formula to Experimental Cinema. 8. From Chocolaty to Sculpted. 9. From Bazaar (local market) to Big Bazaar (hypermarket brand). 10. From Mid life to High life.

11. From Samaj (society) Driven to Self Driven. 12. From Share Bazaar to Bank Deposits. 13. From Ashirwaad (Blessing) to Pamper. 14. From Striving to Shinning. 15. From Swayamwar (self selection) to Shaadi.com. 16. From the Exclusive Car to Inclusive Nano. 17. From Bharat Bachao (save) to Bharat Nirman (create). 18. From Computer Illiterate to Mobile Proficient. 19. From Armaan (desire) to Action. 20. From Beauty as Art to Beauty as Currency. Source: bates141.com . Dec 6th , 2009

 What Small town India is a new centrestage, not just in business potential but also as a talent hotbed.
More than a half of the Indian Cricket Team today is powered by small-town performers such as Sehwag, Pathan.

Why India has started growing after liberalization.

Proper measures taken for the uplift of the backward societies in the country has brought about a revolution in India.

 What Indians are following the Gandhian dictum, You must be the change you wish to see in the world.
From RTI to consumer activism, there is a surge in citizen rights awareness. Today the citizen (junta) is a selfappointed journalist and has a point of view that demands to be heard.

Why There is an increasing quest for knowledge and awareness today. People are much smarter and aware of the happenings in and around India. Internet has played quite a major role in this.

 What Crickets latest incarnation T20 is more soccer than cricket.

The traditional cricket matches and the set up has totally changed T20 matches have cheerleaders like in soccer. Its a total change in the presentation of the game today.

Why Indians are now exposed globally and thats why there is more of modernization in every activity today

 What
News today is not reported but unveiled as a dramatic development.

It is packaged to entertain. Today, news needs to provide entertainment value. Reporting is being tailored to suit popular taste, and to score high Television Rating Points.

Why High competition in every field today has not left the media unaffected Survival in the industry is important today And the motto has changed to giving what sells

 What India did not panic during the global economic downturn. The country looked at it as a slowdown and exercised caution. The carefree became careful, but the outlook remained optimistic. During this period Indians invested smart. Between January and July(200809), credit extended by Indian banks had grown by 24%

Why The RBI has played a very important role in protecting the Indian economy , due its various policies Indian confidence did not waiver in the hard times

 What
The Government today is a partner to its public. The Indian democracy is prevalent from the many actions taken by the Government to protect public interests. The most recent example for this is the MNIK controversy

Why
Awareness among people and more transparency in government operations

What

A new generation of Bollywood talent is finding sustainable audience in segmented markets. Low budget films with specific themes are generating interest and revenue. Success of movies like Life in a Metro and Bheja Fry has encouraged the genre called multiplex movie. According to director Madhur Bhandarkar, his small budget movie Traffic Signal generated three times the films production cost, thanks to the rise of the multiplex audience.

Why Liberalization , globalization ,High competition, changing consumer preferences

 What The Indians today are becoming Health conscious.

Gone are the days of feasting on sweets during festival seasons. No doubt there has been an increasing rate of fast food joints in the country, but the awareness regarding fitness has made gyming and weight loss programs a craze among Indians.

Why Increasing awareness among Indians

 What Retail is delivering change at an alarming rate. Modern retail formats are mushrooming across the country (315 projected hyper-marts by 2011). The Indian idea of Bazaar was narrow streets and crowded markets. Retailing has gone from sweatystreet side-bazaar to swanky superstores. Retail is modernizing India and delivering change through comforting efficiencies.

Why Entry of new players in the market, Privatization Globalization

What

40 is the new 20 in India today.

15 years since economic liberalization, theres a whole new breed of affluent, young-atheart individuals the middleaged. A generation fuelled by success is living an extended youth. Affluence is creating the desire to look, feel and behave young. According to AC Nielson, the anti-aging market in India is over Rs. 60 Crore, and is growing rapidly.

Why Increased Optimism among people, liberalization and education

 What Morality in India was defined by what was socially acceptable.

The locus of morality has shifted from outside to inside. Today the individual operates within his own value system and sets his own benchmarks

Why Individualistic approach, increased interest in self, women empowerment.

What

2009 marked the return of classical values like security, assurance and certainty.
This trend reached its peak in investment and money-matters. Old-fashioned investment options that guarantee returns are back. To the extent that leading insurance players like Tata AIG, SBI Life and Birla Sun Life have launched market plans that guarantee a certain level of Net Asset Value.

Why Increased faith in the Banking Sector post-recession.

Shift from short term orientation to long term orientation.

 What The parent child relationship in India has been hierarchy bound. Good parenting meant inculcating moral values and respect for discipline.
Smaller families and rising affluence today are bringing families closer. Parenting is now an involved process, and pampering is now symbolic of love. No wonder the kidswear market in India is around $8 bn, and growing at 20-30%.

Why Changing family systems, individualism, changing values systems

 What India took pride in participation. She took pride in sending large contingents to the Olympics that returned without any medals. We consistently won hearts but not medals.
An interesting shift is emphasizing on performance. Winners are being celebrated and participation is being sidelined. From the Man Booker Prize to the Olympic Gold, from the World Chess champion to the Oscars, India is celebrating the winners and pushing new people to win.

Why Indian attitude towards sports has changed, more acceptance of activities and interests other than academics has come into play.

 What Marriages are made in heaven they say , but in India today they are made online.

Online matrimony is one of the largest forms of business in India estimated around $12 million. The possibilities are immense from sites that cater to caste preferences to sites that give users a second admission into the institution of marriage. The traditional swayamwar has gone online!!

Why With the Advent of technology in the form of computers and internet, Indians want to explore maximum avenues regarding any issue including marriages.

Internet serves as a wide platform and is an easier way to reach out to maximum no. of people and hence this gave birth to the concept of online match making.

 What A car in India is a status symbol , it is about exclusivity.

The Nano broke this division of the haves and the have-nots. Its objective is not just to provide affordable mobility but to urbanize India.

Why Indians are moving towards urbanization.

People are more conscious of there status today and therefore the financially weaker class of the country has benefitted with the introduction of Nano

 What Development has been a widely discussed topic in India.

While development was a stated objective, the path was unclear. India found a solution in the makeover. The idea of erasing the past is preferred over transforming it. The new airports of Bangalore, Hyderabad, Delhi makeovercomplete wit flyovers, metro railway and urban spaces are eg.s of cities erasing there past to create desired change

Why Improved Government policies, Increased awareness And Education

 What Mobile telephony is d new foundation that is linking n enabling d new digital india.
India is adding 15 million new mob connections every month. And

Why Entry of a no. of Players in the telecom sector and high competition , low costs and good value for money

According to the Federation of Indian Chambers of Commerce and Industry (FICCI), in India, with the auction of 3G spectrum, its subscriber base is expected to hit 90 million by 2013, accounting for 12% of the overall wireless user base.
The larger india is moving from the TV screen directly to the mobile.

 What its true that the average size of an average Indian' dream has gone up in the past decade.
But increasingly today, India is not happy just dreaming big. They now want to realize these dreams and make them come true.

Why Education,
Women Empowerment, Awareness.

The market for ambition has thus led to the market for skills.

 What Beauty in a traditional paradigm was either an object of desire or a topic of poetry. It received admiration but had little value.
Beauty in india today is an appreciated currency. Good looks enhance job prospects considerably. Current career options rely heavily on good looks n a pleasing personality. No wonder the Indian beauty market is growing at 13% P.A., n valued at $8.3 bn

Why Changing preferences of the Indian consumer

 Demanding lifestyles increased dependence on technology Growth of nuclear families less reliance on family/friends for guidance and support Working couples less time to address issues Increased consumerism Changing lifestyles conflict of personal values and inter-generational values Work / life balance issues increased stress Fast pace of change difficult to adapt

Financially smart decision makers Change is life Ongoing learning High expectations on self as well as on the employer Job Hopping Goal oriented More comfortable with the use of technology Look for constant feedback & recognition Bolder and smarter Individualistic Money is the status symbol

Source: trak.in (India Business Blog)

Women in India are beginning to follow the direction that the women of the Western world took more than eighty years ago; Demanding treatment as human equals

Today She is the daughter who takes responsibility of her parents, wife who creates a home, mother who makes her children according to the new Millennium

She also the Entrepreneur who builds an enterprise and discovers her relevance

She also open to life without marriage and parenting without a father

Thankfully, the kind of oppression that women in India had to undergo in the past like widowhood, child marriage, sati etc is to a large extent done away with

Earlier many people did not have a good attitude towards modeling but in recent years with Indian beauty queens winning the Miss Universe and Miss World crowns more and more middle class Indian girls are taking to modeling. The film industry too has a seen an increase in number of actresses and starlets. women in India have also made advances in the fields of medicine, law, science and technology, computers, aviation etc. A number of schemes have been implemented by the government to provide self-employment to rural women. Cottage industries like 'Khadi Gram Udyog Bhandar' help rural and lower middle class women in using their skills in making pickles and papads and selling them for a profit. The government of India has made 18 years the legal age for marrying for girls in India thus encouraging them to educate themselves.

How the businesses have changed in India

Due to Indian Society And Culture

An Interesting Article On Adapting to Indian Business Practices Some guidelines: Indians tend to make business on a personal and very friendly basis. If youre not used to this rather laid-back atmosphere, you need to be very patient and flexible. English is used as a business language in India. Indias society is very hierarchical and, since roles and status are extremely important, you should be respectful towards higher-ranking people. Always use academic titles when addressing Indians. Planning business meetings in India can be a long process as there are many national or regional holidays that might get in the way. Though Indians tend to show up late for meetings, they will expect you to be punctual Every meeting in India starts with some small talk. You will talk about weather, sports and movies. Indians are also very interested in the person they deal with, so be prepared for the fact that quite personal questions about your family will be posed as well. The way of communicating at Indian business meetings is something expatriates need time to get used to. Indians often try to be very indirect because they want to avoid the shame of losing face through direct refusals. Making business decisions takes much time and personal effort in India. Quite often the process is slowed down further because your direct contact is not authorized to make decisions and has to consult with his boss. For this reason, you should always try to get in contact with the most senior managers at business meetings. Especially when you are making business decisions, you may encounter people asking for presents. To keep your chances of making a deal you should provide the gift. If your present is regarded not worthy enough, you may be asked to present another one. Only when your business partners are satisfied, are you are going to be able to conclude your deal.

In the past two decades, India has seen a plethora of change. This reflects in the many physical aspects, it is the mental make-up of the average Indian that has evolved considerably, more so, as an after effect of globalization

Liberalized foreign policies have unleashed the entrepreneurial spirit of the Indian people and many multi-national firms have set up offices throughout the nation.

Technology has brought the diverse nation close together,

Communication patterns have evolved,

A nation of thinkers has become a nation of doers, Urban rural bridges have reduced , Eco sensitivity is on the rise, and All this has translated into a new language of patriotism, and speaks of a redefined culture. This cultural shift has definite impacts on the Indian work scenario.

Existing companies have redefined their strategies.

Start-ups today have fresh innovative concepts and exciting working models. International players have realized the importance of understanding the Indian playground in depth.

Global and local events and developments give rise to trends and which most certainly affect all kinds of businesses it has given rise to glocalization of products all over the world Brands feel the need to give consumers a sustainable proposition based on innovation in their country-specific context Consumers today are global citizens. More exposure and more expectations have risen out of standardization. A number of businesses have identified this shift and innovated. Businesses are increasingly catering to rational, practical, current cultural needs and are not based only on traditional models and offerings. So McDonalds has Chicken Tandoori burgers, Mattels Barbie sports a bindi, Pizza Hut has paneer tikka pizzas and fashion models wear spaghetti sariblouses, to name a few examples.

The recent pressure on cost-cutting has resulted in companies looking to benefit from fresh schools of thought like design thinking instead of the conventional and expensive, highly research-driven approach to devising strategies. From this stems an imperative to have a different understanding of the lifestyle and habits of the new Indian. Till recently, most people chose the same occupations as their parents and rarely moved geographically in the society. The new urban crowd has however, redefined many of these age-old practices, specially with the rise of the IT and outsourcing industries. The IT sector is an excellent example -understanding local culture in a diverse land like India was certainly one of the important factors which saw them through. With her emerging economy label, along with China and Brazil, India would be one of the few players on the fast road to recovery, post the recession gloom.

Business practices in India are undergoing massive transformation. The common man today is expecting something more from huge business houses. He is not willing to compromise on quality and prompt services. Example of how real estate business is practiced in India. Changing aspirations and higher disposable incomes have caused a sea change in the kind of homes available in India. There are three factors that have played a key role in this demand for lifestyle homes - the fact that people are buying homes at younger ages than ever before; their exposure to international trends; and higher disposable incomes. Business in India is practiced according to public demand. In a market where the basic product is similar, it is ultimately the ability to understand the customers need completely and structure value-adds that holds the key.

Changes in marketing Practices, human resource management, and cost and quality management

Corporate social responsibility and Corporate governance

Marketing Practices:

Social marketing Web marketing Green marketing Sympvertising (sympathy advertising)

Human Resource practices: Safe, Healthy And Happy Workplace Open Book Management Style Performance Linked Bonuses 360-Degree Performance Management Feedback System Fair Evaluation System For Employees Knowledge Sharing Highlight Performers Open House Discussions And Feedback Mechanisms Reward Ceremonies Delight Employees With The Unexpected

Cost and Quality management:

Six sigma Kiazen Quality circles

PDCA
BPR TQM J-I-T inventory

Vendor Managed Inventory

Essentials of Business Environment by K. Aswathappa http://www.bates141.com/index.php?option=com_content&task=view news&sectionid=3&catid=5&id=182&Itemid=14# http://www.scribd.com/doc/16691629/Family-Business-in-India

http://www.icmrindia.org/casestudies/Case_Studies.asp?cat=Busine ss%20Ethics
http://searchwarp.com/swa11985.htm http://goliath.ecnext.com/coms2/gi_0198-413787/The-impact-ofdominant-religion.html http://www.stylusinc.com/business/india/business_india.htm http://www.fao.org/docrep/W5973E/w5973e07.htm

http://india.mapsofindia.com/indian-economy/india-socialsector.html http://www.businesswireindia.com/PressRelease.asp?b2mid=21 775

http://www.boloji.com/women/02.htm http://www.iimahd.ernet.in/publications/data/2005-08-07indirap.pdf http://ezinearticles.com/?Business-Practices-in-India&id=1219691 http://springwise.com/marketing_advertising/aircel/ http://www.empxtrack.com/human-capital-managementsystem/articles/Human-Resources-Management-Practices-top-ten/

http://books.google.com/books?id=nfADHVmJkTUC&pg=PA190&lpg =PA190&dq=changes+in+socio+and+cultural+environment+of+busin ess+the+business&source=bl&ots=eZsfpBGdRw&sig=vTOVyJYkolQWR8OhqzEM1AE0ZU&hl=en&ei=cw2JS_WFKsKrAeu2LSsCg&sa=X&oi=book_result&ct=result&resnum=8&ved=0CC gQ6AEwBw#v=onepage&q=changes%20in%20socio%20and%20cu ltural%20environment%20of%20business%20the%20business&f=fal se http://www.justlanded.com/english/India/IndiaGuide/Business/Business-practices-in-India http://www.slideshare.net/insightinstore/the-face-of-new-india https://www.cia.gov/library/publications/the-worldfactbook/geos/in.html

Thank you