Final Project
This final project is a culmination of concepts learned in this course. Using your outline as a guide and the bibliography previously submitted, write a 15- to 20-page paper (3750 to 5500 words) in APA format including at least 10 references from academic books, journal articles, and/or credible online sources. You must use in-text citations, thoroughly discuss the topics described, and thoughtfully develop your ideas and arguments. You should present and explain key concepts, effectively linking your ideas with care and precision. Do not copy tables or material and present them as your own.
Include the following:
- Introduction—Provide a focus statement and explain what the reader can expect. Establish the context and purpose of the project.
- Country—Give an overview of the emerging economy host country where your business will expand.
- Include location, population, culture, language, major imports and exports, trade policy (including trade barriers), business practices, industries, and any other characteristics that will be helpful to the reader in understanding the country.
- Conduct a PESTEL analysis of the host country and the impact each sector would have on your firm. Include the country’s major financial institutions and the strength of its currency versus the U.S. dollar (USD). How would the firm use hedging tools to mitigate foreign exchange exposure and contribute to corporate social responsibility (CSR) in the host country?
- Describe the host country’s place in the global economy. What are the aspects of the global economy that influence the economy of the country? Why are these important to the country? How could your firm leverage the country’s capital markets to successfully invest there? What is the country’s Human Development Index (HDI) and world rank? Provide details on working conditions and human rights. Is the country a member of the World Trade Organization (WTO) and the International Monetary Fund (IMF)?
- Where does the country fit into Hofstede’s cultural framework? What are the country’s preferred leadership styles from the GLOBE framework? How are values and ethics different in this culture?
- International Business—Explain your (fictional) business’s history, locations of operation, success, products, sales, revenues, financial organizational structure, and any other details as appropriate.
- Expansion and Analysis Strategy
- Describe the product, brand, production, price, promotion and place pertaining to expanding in the host country. Describe the main business-related issue(s) that your firm is facing, and explain related subsidiary or peripheral issues. Give purpose and direction to the analysis that will follow.
- Conduct a SWOT analysis pertinent to entering the new host country market, including your firm’s competition and how you will overcome the weaknesses and threats. How will you finance the firm and source needed materials?
- What are the strategic circumstances that need to be considered with respect to cultural, ethical, and political differences between the United States and the host country?
- Acknowledge and analyze the perspectives, assumptions, and biases of key stakeholder groups. How will stakeholders’ perspectives help you sharpen and finalize your business decisions? What is the relevance of the context of your firm’s position?
- Evaluate the advantages and disadvantages of the different international strategies that firms use to enter foreign markets. Define the international strategy and entry mode your firm will use in the host country.
- What management practices are appropriate in this global context? Justify the use of these practices.
- Explain the cost pressures on the firm and the P-O-L-C management framework the firm will use. Discuss the infrastructure, distribution strategy, and supply-chain management strategy for the host country. What are the challenges of each and how will you overcome them?
- What other theories or models are ideally suited for this specific global context? How will you apply them? What factors are necessary in order to apply these theories or models?
- How will you incorporate organizational values into the decision-making process? What ethical principles, concepts, or theories will you operationalize, and how?
- Describe the intended target market in the host country and how the product has been adapted for this group. Provide a 6- to 12-month timeline of the firm’s expansion. Will you join CTPAT? Provide your justification.
- Suggestions and Recommendations—Provide logical, practical, and specific recommendations for managers and expatriates to expand in this country. (Expatriates could be sublevel managers or other positions that the firm brought from the home country to ensure running operations successfully.) Take into account the complexities of the business-related situation. Demonstrate to the reader you were able to reach reasonable conclusions and state outcomes (consequences and implications).
Summary—Provide a few concluding paragraphs about what your paper discussed and how it can be beneficial for practitioners.
Introduction
International investors are often attracted to emerging markets since they guarantee a high return on investment and minimal competition. The process entails transitioning towards a developing economy that thrives under access to capital from foreign sources. As a CEO, the focus is on identifying the most reliable globalization and internationalization strategy, which often entails identifying lucrative countries that guarantee a return on investment with favorable entry modes and regulations, including import policies. As a multinational corporation, we understand that emerging countries are among the fastest-growing economies and offer burgeoning markets for our beauty products. As Techo (2018) recommends, success in emerging economies such as India primarily entails the entry, management of key operations, and value propositions in the foreign market. We expect aggressive competition from local organizations and other multinational corporations such as L’Oréal (Al-Kwifi et al., 2020). Techo (2018) adds that the need to embrace free economic environments is often curtailed by political processes that are yet to embrace the market liberalizations that, in turn, address the expectations and realization of a developed market economy. In this paper, I address the entry methods that our (fictional) company will use to penetrate India, one of the emerging markets, in Southern Asia, and the challenges, such as the trade barriers, culture, and language the beauty products are likely to encounter in the host country. It will also include PESTEL analysis, Hofstede’s cultural framework, expansion strategies, SWOT analysis, Human Development Index, and membership with international organizations such as the World Trade Organization and the International Monetary Fund.
Overview of India as Emerging Economy
The Southern Asian country houses rising education levels and a rapid increase in the working-age population that is spread across the middle class and manufacturing industry. Emerging market economies generally guarantee middle per capita income and is constantly championing for industrialization to sustain the demands of the ever-growing population. Multiple studies suggest that the transition from a closed to open economy is evident in India that is rapidly advancing in the information technology sector (Basu, 2004). The county has a diverse population made up of multiple ethnic groups, which implies that there are several languages spoken in the region. The country is ideal for multinational corporations that will exploit its massive population, since it is one of the most populous countries globally. According to Lakshmi et al. (2020), just like other countries, India embraces the export of raw materials and products to increase its wealth ratio among global economies. The authors reveal that as of 2019-20, the country registered positive export growth rates of about 446 billion US dollars. Its key exports include automobile parts, packaged medicaments, jewelry, agricultural products such as rice and cotton yarn, diamond, and refined petroleum products. The country targets Germany, the US, the UAE, and more. As of 2018, they had exported a wide range of products to trading partners such as China, Bangladesh, and Pakistan.
Its major import states include the US, the UAE, Saudi Arabia, China, and Switzerland. It prioritizes importing coal briquettes, precious stones, metals, and gems such as diamonds, steel, gold, petroleum gas, and crude petroleum (Lakshmi et al., 2020). Other major imports include machinery and computers, organic chemicals, nuclear reactors, and oils and waxes. Apart from the above, trade barriers are common in both developed economies such as the US and most states in the West and emerging market economies that prioritize regulating trade mostly to protect local companies from extreme market competition posed by foreign companies. Its import on essential oils is increasing, and demand for beauty products and cosmetics is rising, which makes it a lucrative market.
India’s PESTLE Analysis
PESTLE is an acronym for Political, Economic, Sociological, Technological, Legal, and Environmental factors that serve as outside forces influencing the company’s performance in foreign lands such as India. As the CEO, initiating PESTLE analysis is paramount to facilitate the realization of key threats and opportunities that should be exploited in foreign regions such as India.
Political Factors
The fact that the Republic of India registers constant gross domestic product (GDP) growth. Its ever-growing liberalization can be attributed to its democratic federal system and the need to tend to its culturally diverse populous status. According to Fischer (2010), the local government embraces liberalization policies that often invites multinational companies. This implies that the government is supportive and often embraces foreign direct investments to cater to the rising population’s needs and offer employment opportunities, among other benefits.
Economic Factors
The country has adopted multiple policies, including an open economy partly tied to its association with trade pacts such as World Trade Organization and the need to increase foreign investments to cater to the rising middle-class population. As of 2008, the US was the country’s largest trading partner (Fischer, 2010).
Sociological Factors
The country’s increasing population facilitates the presence of a young workforce to handle the increasing economic expansion. The growth of the middle class and working women in a highly masculine society are factors that have positive impacts on our business.
Technological Factors
Consumers are highly conscious about quality and services because of the availability of electronic media and computerization that often cover the interests of the vast market. The internet is enhancing sales of products online, especially in the wake of coronavirus that has devastating impacts in India.
Legal Factors
The legal factors often entail adherence to labor laws, including the country’s wage rates and employees’ rights to unionize, and taxation laws (Agarwala, 2019).
Environmental Factors
Just like other governments, the Indian government sets environmental needs that must be met to guarantee the safety of the employee and the consumers.
India’s Place in the Global Economy
The country embraces multiple bilateral agreements with different trade blocs and nations. Examples include the Association of Southeast Asian Nations, European Free Trade Association, Afghanistan, Chile, and Japan. It has been a member of the World Trade Organization since 1995. It is among the first countries that embraced the General Agreement on Tariffs and Trade in 1948. This implies that it is bound by the policies of the multilateral institutions, including international trade governance (Heidrich, 2013). As a member of the international institution, the author confirms that the Republic of India has to observe its mandates, such as facilitating trade liberalization, among other forms of regulations, including preferential agreements. The fact that our company is US-based implies that we, though private entities, conform to the global trade governance institution policies. Siddiqui (2016) adds that the governance covers economic interdependence, integration, and openness, which implies as WTO member states seeking international business in a foreign fast developing economy should be welcomed. The country is also among the founding members of the International Monetary Fund.
Just like any other rapidly emerging economy, the country faces human rights challenges, especially those tied to labor. As of 2020, it had over 5 million inter-state migrant workers (Negi, 2020). It has a history of interstate and inter-state migration for labor purposes since the British colonial era. Negi (2020) argues that migrant labor is exposed to multiple instances of violation of human rights because of economic and political reasons. The author adds that, oftentimes, migrant workers are not offered voting rights. For this reason, they lack the influence and power to subject the government to electoral pressure and institute relevant changes to migrant labor. Though among the founding members of the International Labor Organization, the country is yet to address the human rights violation of the migrant workforce and the Judiciary’s stance of non-interference.
However, it is commendable that the country embraces the Trade Unions Act that safeguards the interests and activities of the members. It covers industrial relations, wages, social security, among other interesting factors covered in Article 19(1) that are likely to determine operations and relations with the migrant and local workforce.
Its Place in the Hofstede’s Cultural Framework
Social scientist Geert Hofstede presented cultural dimensions, including uncertainty avoidance, power distance, masculinity versus femininity, and Individualism versus collectivism (Malhotra & Gaur, 2020). The cultural dimensions are often adopted to enhance comprehension of the different cultures and consequently identify reliable techniques to conduct business in foreign lands. Scholars note that the Indian culture exhibits a relatively higher score of 77 on power distance, which is important for our company’s survival and success in the foreign market (Fischer, 2010; “Country comparison” 2021). The focus, in this case, will be on the fact that the locals are not discontented with the fact that power is shared unequally, often depicting high tolerance for hierarchy and the staff embrace clear instructions. Therefore, the company needs reliable employee motivation techniques, including rewards and training, to ensure the top-down structure maintains and employees embrace management’s direction, which in this case, will be centralized.
Under Individualism and collectivism, the country registers an intermediate score, which implies it embraces both aspects of groups and individuality that does not advance beyond the family level. The company will exploit this information to introduce measures such as promotions, professional growth, organize end year celebrations that includes families, and embrace group interdependence to create a sense of belonging in the workforce. The score in masculinity versus femininity is above average, which implies that masculinity is widely embraced and locals embrace workplaces as the center of their successes. Notably, its inclination to religion and the need to uphold ancient culture limits the score to above average. The last dimension is uncertainty avoidance, which entails tolerance for ambiguity. India is an example of nations that depict tolerance for uncertainty, which implies that innovation is a key component from the local workforce, if well nurtured. The culture tolerates imperfection and does not highly regard planning.
Our Company International Business
As a recently founded company with barely ten years in the market, we prioritize both in-store and online shopping to counter rival companies such as Sephora and L’Oréal that has a significant market share and global recognition. The digital marketing platforms, including our presence on social media platforms, mostly Facebook and Instagram, constant use of personalized messaging through e-mails shared by customers through social media and the company website. Our products primarily entail beauty accessories, which include cosmetics, body lotions, hair care, and fragrance. We offer tutorials on applying our beauty products and recommend the best product for different skins and hair, among other supplementary services that can attract a significant customer base. We also rely on chatbots that offer instant replies to commonly asked questions or redirect the user to our agents in case of serious concerns. The company embraces celebrity endorsement as on the verge of signing deals with renowned sports personalities such as Serena Williams, Tiger Woods, Jake Paul, and Paulo Dybala, hoping that the relationship will facilitate significant sales from the celebrities’ massive following.
The above outlines our promotion techniques that partly serve as our strengths. The next focus is on a product that entails positioning and targeting. Since we primarily focus on beauty products, our primary targets are middle-class women. Notably, the company is yet to realize the dream of introducing male products, including fragrances, hair and skincare products. This implies that the product portfolio is increasingly extensive and can cover a wide client base regardless of their desires and preferences amid intense competition from established brands such as Macy’s and Sephora. Just like other multinational corporation, globalization is an opportunity that facilitates the free flow of goods and services. As a company based in the US, we hope to maximize our market share by establishing in-stores and online services in India. The focus will be on celebrated Indian personalities such as Priyanka Chopra, cricket players, including Virat Kohli and Babar Azam, and Arjun Kapoor, one of the famous Indian actors.
Application of the 4Ps of Marketing
As noted above, the promotion techniques applicable in the host country will include the use of digital platforms (Chaffey, 2019). The training of its in-store employees working in-store chains, hypermarkets, and department stores will prioritize customer needs and convenience to increase publicity and referrals through word of mouth. The focus will also shift towards local Indian magazines, including Vogue India, Elle, and Woman’s Era, that will be paid to share ads regarding the company’s extensive product portfolio, features, and expected benefits. The initial stages will include free samples and discounted prices for an identified amount of products. Its social media presence will include occasional updates on products, new store locations, and tutorials across Facebook and Instagram. The online presence will also respond to customers’ concerns and obtain relevant feedback to enhance organizational performance.
The next focus will be on products, which compels the company to invest in market research and product innovation since the host country is populous and culturally diverse. As a company, we intend to enhance the product portfolio to cater for the needs and preferences of the diverse target population. It will also exploit opportunities such as discounted pricing for a pre-determined quantity of products. The research and development team is compelled to embrace constant innovation and market research to identify various positioning, segmenting, and targeting factors.
The pricing strategy will consider factors such as competition from established brands such as Sephora that have physical stores across major cities in the host country. The company will prioritize penetration pricing that, in most cases, works for new entrants locally and in foreign markets. The focus is on enticing the target audience to purchase beauty products using relatively low prices. We hope that the strategy will facilitate the acquisition of a loyal client base from competitors offering similar services at relatively higher pricing (Chaffey, 2019). The pricing will yield positive results since it works best in situations where product differentiation is challenging, and the price impedes the demand. After attracting a loyal client base, the pricing can shift towards value-based or competition-based.
Under place, the company will embrace physical stores and digital platforms where clients can make inquiries and purchases. The focus will be on technological advancement that has facilitated access to digital platforms. Physical chain stores supplement the first rising e-commerce.
SWOT Analysis
Strengths
Our company has a reliable digital presence, including social media pages, website, and personalized marketing, especially through e-mails. The company enjoys a wide variety of products ranging from cosmetics to fragrances and a culturally diverse workforce with impressive dealer community standards, including customer relations and handling key concerns such as the application of various hair care and skincare products and outfits match certain jewelries. Effective marketing also qualifies as a strength, especially the part where the company involves local renowned and influential personalities. We also embrace automation of services, which hopefully will reduce waiting time in the foreign market, as clients can access tutorials, make enquiries and purchase, and share feedback through digital platforms.
Weaknesses
Overreliance in the local US market is one of the weakness that the company is yet to address. This exposes the company to socioeconomic concerns that can cripple operations. The recent black lives matter campaigns, for example, affected operations of physical stores, and some were looted. The protests also affected online sales that were rapidly rising following the outbreak of coronavirus.
Opportunities
The company should introduce product diversification to increase its market share as the process will entail producing products that cover both genders. Just like Sephora, the company should embrace personal care products. As a fast-rising company, we need to enhance our global presence to become a household name, which implies increased market dominance, share, and overall profitability. The fact that we are expanding operations to include emerging economies should be treated as an exploited opportunity. We should be exploiting increased fashion awareness resulting from the increased media presence and a democratic system. According to the Associated Chambers of Commerce and Industry, the country is experiencing a fast rise in the adoption of branded cosmetics.
Threats
Competition from established brands such as Sephora and L’Oreal threatens its success in foreign markets. Notably, our line of products is often impeded by high levels of intolerance to new products, which compels the company to invest extensively in market research and marketing. This is an example of challenges the company is likely to face in a foreign market.
Comparison between Host Country and the United States
Even though both states are democracies, the US has embraced multiple trade barriers to enhance nationalism and trade protectionism. The Indian government is bound to the international trade institutions’ economic and trade liberalizations, which implies that their barriers of entry are relatively favorable to multinational corporations. The fact that the countries were colonies of the British does not imply they hold similar culture and traditions. The US has a culture of Individualism, while India is highly tolerant to power distance in Hofstede’s cultural dimensions (LeFebvre, 2011). These are the first indications that ethical and cultural practices differ across borders. The host county embraces a hierarchical culture closely tied to the caste system and high regard for religion, including the Hindu scriptures. India prefers collectivism, which often stems from patriarchal and family loyalty over the workplace, as opposed to the US higher score in Individualism. The above explains high tolerance for family-owned enterprises (LeFebvre, 2011). Unlike India, the US is a low-context culture, which implies that the relations explicit communication. The above information implies that training is paramount for staff members shifting the US to the host country to create reliable relations with the customer base and local representatives.
Influence of Key Organizational Stakeholders
Stakeholders desire to embrace market diversification depends on the expected financial performance of the host country. They influence key organizational decisions, and their interests must be incorporated to ensure they are aboard. Apart from investors, the focus also includes the workforce and the customer base, which determines the various approaches, including an extensive product portfolio to protect the interests of the company. Our firm prioritizes cultural diversity and regularly trains employees to handle e-commerce and in-store operations from an international perspective. The decisions regarding product portfolio are often reached based on market research, including targeting and segmentation to reach customer preferences, needs and interests. Often, stakeholders are threatened by cultural differences, the stiff competition from L’Oreal and Sephora, and the cost of penetrating a new market. Regardless, we are positioned to exploit the vast population and are likely to attract a market base using lower pricing, direct exporting, and intense marketing. The Human resource management department will play a critical role in training and motivating the workforce.
Company’s Entry Modes into India
Exporting
The export mode is often regarding as the easiest technique to gain access into foreign markets. The focus, in this case, is on sourcing products from the home country directly to foreign markets. Most multinational companies embrace the mode as it guarantees limited operations in the host country, thus the low cost of set up. However, the process often entails collaboration with local distributors and companies, which implies that the company loses significant control over local operations in the case of a contractual agreement and is highly exposed to reduced profits as the distributors often charge for their services.
Joint Venture
The entry mode entails forming alliances with local firms to enhance the survival of the entrant because the profits and risks are shared. The company partners with local firms to create a legal entity often referred to as an equity joint venture where operations and managerial controls are distributed (Meer-Kooistra & Kamminga, 2010). Companies that embrace joint venture are exposed to alleviated risks and competition from local and multinational companies, technological, capital, labor, and know-how, and economies of scale as they operate jointly. However, its implementation is exposed to challenges such as imbalance in expectations, involvement, flexibility, and objectives and culture clashes. Also, asset claims in case of closure of contracts can be straining, research and planning, conflict resolution, and jurisdiction may outshine the benefits, including a pool of resources and expertise, contractual, which implies that commitments can be revised, and shared risks, profits, among others.
Licensing and Franchising
The legal relations, which include employing technological know-how and trademark, is known as licensing, while franchising is a business agreement that grants local entity access to its intellectual property and sells of its products. Entry barriers, including cultural differences and quotas, can be managed through licensing, which implies that the entry mode reduces associated risks. Most organizations disregard franchising because it requires a high initial investment, is linked with low profitability, requires the organizations to share intellectual property, and oftentimes the parent organization is guaranteed limited control. Also, it is linked with local organizational reputation.
Acquisition
This entails buying a firm in its entirety, thus assuming control of assets or shares (Meer-Kooistra, 2010). In the process, the company is exposed to talent value, which includes retaining the exemplary and diverse workforce, reduces competition by advancing market dominance and exploiting the existing market share and customer base. They also minimize entry barriers, exploit market power and synergies, including distribution channels, and expose the company to new technologies and resources, including labor as mentioned above, among others (Tan, 2009). On the contrary, acquisition possesses challenges including conflicting objectives between the acquired company and the parent firm, cultural clashes, among other challenges tied to seamless integration.
Our company will embrace direct exporting with the help of foreign representatives in the local Indian markets. This entry strategy favors the company as it can be treated as a test on the market response to our beauty products that will inform the future, including increasing investment in the host country. The entry mode also allows the company to safeguard its intangible assets, including trademarks and patents. Since the company embraces technology, specifically digital platforms and the internet, direct exporting will serve well alongside a few in-stores that have representatives trained and culturally diverse to handle the vast population (Chaffey, 2019). We expect higher profit margins compared to other costly entry modes such as joint venture and control over the business process, including exportation and the Indian marketplace, which automatically enhances competitiveness. The approach will limit the complexity in the supply chain that arises from overreliance on multiple channels.
Applicable Management Practices
The section covers the innovative and stipulated techniques that the company will embrace to enhance work systems effectiveness. The first management practice applicable in the global context is the adoption of new technology to increase access to a wider audience. The second is the training of local representatives to advance pre-determined organizational mission and goals, including customer relations management, increased sales, and edging competitors. The training can also include rewards to facilitate engagement and commitment, increase team efforts, and increase organizational cultural cohesiveness needed to handle the massive, diverse culture. The last management practice will be focusing on improving quality that can be achieved through the access of the precious stones the host country exports to make legit jewelry and seeking customer feedback and market research to determine the most appealing quality to the identified market segmentation. Suarez (2016) recommends “internal controls focused on strategic planning, human resource development and/or organizational innovation, are key to the procurement of desired organizational performance.” The process allows the introduction of measures that handle key threats and weaknesses and strengths and opportunities.
Cost Pressures and the P-O-L-C Management Framework
The P-O-L-C management framework is an acronym for planning, organization, leading and controlling. Under planning, the focus is on strategy formulation, which entails the mission and vision in the host country. The planning face entails actions introduced to realize key company purposes, missions, and other goals. Often, organizations exploit strategic planning to edge competitors, gather market, consumer, and competitor information, embrace contingency modelling, and make decisions (Suarez, 2016). Organization entails design, culture, and social networks. Thereafter, there is leading, which entails decision making, communication, leadership, teamwork, and motivation, among other factors that facilitate the realization of the vision and objectives. Cost pressures are also challenging, especially in the wake of rapid technological advancements compelling companies to embrace investment in technologies such as artificial intelligence to handle vast online customer presence. The overreliance on the local US market also exposes the company to threats of instability that were actualized following the outbreak of coronavirus and the protests. International operations expose the business to the higher business cost and demand for human power that we hope to contain through e-commerce and direct exporting.
The Target Market in India and Special Adaptations to Suit the Group
The country is rapidly embracing modern retail channels and e-commerce that the company will exploit to reach the target audience, especially women ranging from 20 year-olds to 55. Thereafter, after successful entry, within six months, the company will introduce the male personal care segment. Our products target women who are globally recognized for embracing the lifestyle, irrespective of culture, religion, or income. The women population is increasingly embracing modernity, including working in a densely populated region, which implies that segmentation will cover psychographic, demographic, and geographic segmentation. In the first six months, the focus will be on attracting clients, building brand awareness and loyalty. The company will offer discounts and incorporate multiple religious factors, including Hinduism culture, in the designs of jewelry and fragrances to attract the identified segment. In-store representatives will be trained to enhance customer relations, facilitate repeat purchase, or increase publicity through word of mouth. As noted by Witz & Lovelock (2016), capacity and demand are key in organizational survival. The company will hire additional staff to reduce waiting time and decorate the interiors of the stores to create the desired impression in the eyes of the customers.
By the fifth month, we will have partnered with local celebrities ran ads on traditional channels such as local TV and lifestyle magazines. AI technology is also important as it facilitates online response rates. Every marketing approach will be evaluated based on the return on investment it offers. Embracing the CTPAT will also be beneficial as it includes facilitating access of the FAST lanes (Free and Secure Trade across borders, among other conveniences ranging from inspections, examinations, supply chain security, and reduced wait times. The partnership program is important to increase the legitimate and fast flow of products across borders.
Suggestions and Recommendations
Multinational cooperations are compelled to embrace cultural differences in the home country. Often, the differences are based on Hofstede’s cultural dimensions to determine the most relevant approach. Start-ups should disregard value-based or competitive-based pricing in favor of established brands with significant influence in the global arena. The country embraces World Trade Organizations provisions and is considered a modern democratic state that embraces liberalization. Its rising population implies that managers can position their products and services to address the needs of the population. Also, companies highly endowed financially can adopt costly entry modes, including licensing and franchising and acquisition. Gupta and Bhaskar (2016) argue that the Indian job market retention rates do not entirely thrive under compensation. This compels multinational corporations to offer an outstanding value proposition, including growth professionally.
Summary
In conclusion, India is a rapidly emerging economy suitable for international businesses. Its vast population offers a market for our beauty products. The rise of the women working population is a factor to exploit even though the company is interested in diversifying its product portfolio to include the male gender. The business will exploit Hofstede’s cultural dimensions to identify the scorecard in power distances, masculinity, among other dimensions that determine the most reliable approach in the foreign land. The company will also exploit direct exporting as a convenient entry strategy, conducts a SWOT and PESTLE analysis to identify effective external and internal factors that would influence stakeholders desire to embrace the foreign market. We choose direct export as a cost-effective entry technique. The initial campaign will target women mostly through e-commerce supplemented by in-stores with representatives well trained to handle diverse populations.
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