ENTERPRENEURSHIP

NAME: TAIMOOR ARSHAD

REGISTRATION NO: SP19-BBA-051
SUBMITTED TO: DR SHER AKBAR
DATE: 07-04-2022
taimoorarshad585@gmail.com
 ENTERPRENEURSHIP
Choose a country. Research, and be prepared to report on, that
country’s (a) stage of economic development, (b) political-legal
environment, (c) cultural environment, and (d) technological
environment. If you were advising an entrepreneur who was
considering entering this country to sell his or her products, what
would you say were the major strategic issue?

Choosing India for our research purpose and point wise analysis are as
follows:
(a) Stage of economic development: The Indian Economic System is
mixed economy where public sector and private sector both exist. Indian
GDP is growing more than 7 % per annum which makes it one of the
fastest growing GDP in the world. In 2015 its growth was more than
china which makes it more attractive destination in the larger economies.
India is tenth in the world in factory output. Major manufacturing sector
are mining, electricity and gas together account for approx. 28% of the
GDP and employ 17% of the total workforce. India is ranked fifteenth in
services output. It has increased demand from foreign consumers
interested in India's service exports or those looking to outsource their
operations. Capital market is on all time high which makes it an
attractive destination.
As the Indian government is committed to economic reforms and
increased foreign investment in the domestic market they have favorable
Industrial policy, flexible Fiscal policy & monetary policy and very
favorable foreign investment policy Export-Import polices in place.

(b) Political-legal environment: Political system in India is very stable

with clear policies on business issues. The government is socialist in
nature so some sectors of public concerns are their main priority like
infra-structure development and health and education. The business have
good confidence in government. Trade union are active in nation with
fair amount of barging power so workers participation in management is
very important.
Indian government have well defines legal structure in place the
important legislations that concern the business enterprises include are
Companies Act, 1956, Foreign Exchange Management Act, 1999 , The
Factories Act, 1948, Industrial Disputes Act, 1972 and Industries
(Development and Regulation) Act, 1951 etc. Judicial system in India is
independent from in political system and gives its judgments on
different matters relating to trade and industry which influence the
business activities.

(c) Cultural environment: India is the second largest economy in the

world with lots of cultural diversification. Family values are very strong
in the county. Conservative and modern population living together.
Literacy rate and per capita income is increasing. They have cultural
acceptance for the diverse product and values so a very lucrative market
for the investors of the world.

(d) Technological environment: The Indian business and government

working hard towards the technological advancement in the production
and other facilities in the country. The joint ventures, mergers and
collaborations from the foreign partners are positive efforts taken by
them. The countries own technological approach are also overwhelming
and they have separate fund for R & D activities and it is also
encouraged by the government policies by various incentive and tax
breaks
Advice for an entrepreneur who was considering entering in India to sell
his or her products, the major strategy should be detail study of the
target market, product differentiation, and low price and focused
approach on marketing the product.